Tuesday, December 9, 2014

Week 10 EOC: Unique Value Proposition

"Put Some Hair On Your Chest"
     This would target young men to consume the snack.

"Can You Handle The Heat?"
     This would target fans of spicy food to consume the snack.

"We Might Be Nuts, but We Carry A Punch."
      This comedic and rhymes creating a better chance that the consumer will remember it.

"Spice Up The Conversation!"
      This creates a connection between our product and flirtatious mood.

Tuesday, December 2, 2014

Week 9 EOC: Creative Content

There’s no second chance at making a good first impression. Advertisement, regardless online or offline, if they don’t catch your attention within seconds they are considered failed.
I will be writing, recording, and producing an upbeat radio style commercial with bar type music in the background and a consumer friendly voice planned to air on radio stations with an audience ranging between ages 21-35 in order to help promote the bar snack to not only consumers but also the bars themselves. I feel as if this would be a great way to get the word spreading. I plan to use my story boarding and script writing skills to write a great promotional ad for the bar snack. I plan to be the talent, or voice actor in this commercial and I will use Pro Tools 11 alongside my Maschine MK2 and a Blu Snowball Microphone to record and produce the radio commercial and upload using a website called Soundcloud. I plan to tempt the interested consumers to ask their favorite bar to stock this snack and try it out! As well as ask of aged friends to try and sell the product for a small commission.
Radio Comercial Script: 
CAN YOU HANDLE THE HEAT?  Try Phileas Foggs brand new, Lime & Chili Almonds, all the way from Thailand! They have the perfect blend of herbs and spices to make anyone feel like a real man. So get to your local bar tonight and put some hair on your chest with this savory snack that goes great with any Lager or Tequila if you're Brave!
Bag Design: 

Implementation Evaluation Control

"Planning good strategies is only a start toward successful marketing. A brilliant marketing strategy counts for little if the company fails to implement it properly (57)."
We plan to implement relationships with our customers throwing tasting parties, connecting through social media, Not just being a company that is Profit-Driven but Relationship-Driven as well. We want to create a friendship with our customers and make it feel that when you are eating our snack at the bar that our whole team is there backing your amazing night out."Many managers think that “doing things right” (implementation) is as important as, or even more important than, “doing the right things” (strategy). The fact is that both are critical to success, and companies can gain competitive advantages through effective implementation (57)."

Price

"The American consumer market consists of more than 300 million people who consume more than $14 trillion worth of goods and services each year, making it one of the most attractive consumer markets in the world." stated in chapter 5. Our almonds have a very low cost to be made which allows us to keep the consumer price low. Our Almonds will be priced between $1.99 and $4.99 depending on the bars customer type, if the bar or lounge is more sophisticated with a more wealthy clientele the price will be $4.99, because they are willing to spend the money on a healthy & tasty snack. Where as if the bar is considered a "dive bar" the price would be a bit lower because the customers have a different willingness to spend money compared to the customers attending a more high class bar or lounge. "Thanks to the weakened economy, the pricing power of the Internet, and value-driven retailers such as Wal-Mart, says one analyst. 'These days, we’re all cheapskates in search of a spend-less strategy.' In response, it seems that almost every company is looking for ways to slash prices." stated in chapter 9. 

Distribution

"Suppliers form an important link in the company’s overall customer value delivery system. They provide the resources needed by the company to produce its goods and services. Supplier problems can seriously affect marketing." as it says in chapter 3. Will will have suppliers in America for our almonds because they can be found locally which will lower our shipping cost and allow us to have the product in our hands and in the consumers hands quicker."When you're choosing how best to transport your products, budget should be the most important factor in your decision-making." "The speed of the transport is also important - if you have perishable items, sending them on a three-month sea voyage through Africa is a bad idea. Likewise, make sure the mode of transport you choose is reliable so your customers are not diappointed."
 After our successful tasting parties we will talk business with the bar owner and by the numbers of drinks sold and customers enjoying the product they are most likely to pick up the product in order to keep our joint customers happy.  We will have reps going to bars all across the west coast handing out bags of our product to the bar customers and in return, if they like the product, we will ask the customer to bring it up to the bartender/owner of the bar. This will create a buzz through word of mouth and if they are interested the rep is on sight to talk business and cut a deal. Since our product are almonds and they are in an air tight bag the shelf life is fantastic and the product will not go bad, there or no temperature requirements and the snack does not need to be reheated. The customer asks for a drink and our almonds and the bartender can easily hand them the snack quickly and the customer can munch on our product while they wait for their drink.

Promotion

We have radio commercial slots in place on stations targeting men between the ages of 21-35,
RADIO COMMERCIAL SCRIPT:
CAN YOU HANDLE THE HEAT?  Try Phileas Foggs brand new, Lime & Chili Almonds, all the way from Thailand! They have the perfect blend of herbs and spices to make anyone feel like a real man. So get to your local bar tonight and put some hair on your chest with this savory snack that goes great with any Lager or Tequila if you're Brave! "Promotion means activities that communicate the merits of the product and persuade target customers to buy it (54)."
We are active in the social media world, including Facebook, Twitter, Instagram, and FourSquare. Through social media we plan to give out "Buy One Get One 50%" coupons on special occasions ("Examples of sales promotions are found everywhere. "A freestanding insert in the Sunday newspaper contains a coupon offering $1 off Pedigree GoodBites treats for your dog. An e-mail from LLBean.com offers free shipping on your next purchase over $100". stated in chapter 13). and our reps will keep our fans up-to-date with pictures of happy customers eating our product.
We also have tasting events planned at bars with a free sample of our product and a free beer of their choice to really get the full experience, asking them their opinion on the snack. "To create value for customers and to build meaningful relationships with them, marketers must first gain 
fresh, deep insights into what customers need and want. Companies use such customer insights to develop competitive advantage." stated in Chapter 4.
This will increase the amount of people willing to try our product and after their first drink they will want more alcohol, and think about it, if they like the sample they are most likely to buy a bag for themselves and their friends to enjoy. At these events we will have a backdrop with our company name and our product in plain view, encouraging the customers to take pictures, including our hashtag and location.

Product

"Market segmentation involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes." stated chapter 6. 
Our product is spicy Thai Chili & Lime Almonds that come in a 6oz baggy with an easy opening at the top so you can share with friends while having a nice night out. The packaging is very simplistic making sure we do not over do it and also it helps us keep the price low.

Target Market Strategy

in order to target market effectively, you’ll need to know exactly who purchases your products and exactly how to to reach them. And acquiring that kind of knowledge requires some research and planning on your end.

Our target market consists of the gay community that loves to go out and have a few drinks with their friends. Our slogans and commercial cater towards men only in a very flamboyant fashion.
Every business has many types of clientele, and each acts differently at differ­ent times. Once you understand what customers are doing—and why—you can spot certain actions and apply value to them. A data warehouse to collect data from various channels will provide the underlying information needed to segment your customers.

Situation or SWOT Analysis

"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives (55)."
Strengths
  • Being part of the Phileas Fogg product line, gives it a strong name people already know.
  • This product healthy, tasty, and a conversation starter 
  • Has a great commercial that introduces the product in a familiar way to viewers.

"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance (55)."
Weakneses
  • People might hesitate to try the product
  • There are competitors in the same business

"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage (55)."
Opportunities
    • "Producing a product or service and making it available to buyers requires building relationships not just with customers, but also with key suppliers and resellers in the company’s supply chain." as it says in chapter 10. We have the opportunity to have a fully American Made product by creating relationship with packaging companies and local farms around the US.

    "Threats are unfavorable external factors or trends that may present challenges to performance (55)."
    Threats
    • Being new in the market.
    • Reliant on businesses accept and stocking our product.
    • Finding bars that are willing to carry our product.
    • Targeting only Homosexual men narrows our market.

    Objective

    "Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources. This is the focus of strategic planning—the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities." stated in Chapter 2.
    Our companies objective is to be in every local gay bar on the west-coast, considering the gay population gets larger and larger as you move closer and closer to the Pacific Ocean. We plan to help bars sell more beer and alcoholic beverages by keeping our joint customers thirsty and in need of a drink. In the long run we plan to sell in Liquor stores so that our fans can enjoy the snack from home, pushing our product nationwide. "Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources. This is the focus of strategic planning—the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities (39)."

    Business Mission Statement

    We believe snacking should be healthy and fun, we provide a fun & spicy conversation starter good for any bar-type environment. We have created a new and healthy way to snack while partying through the night.   "New products are important—to both customers and the marketers who serve them. For customers, they bring new solutions and variety to their lives." as it states in Chapter 8

    Tuesday, November 18, 2014

    Week 8 EOC: The Pitch & Adventure

    The Pitch: Thai Lime & Chili Almonds go great with a nice Singha Lager or Tequila if you're brave! This savory bar snack has a great salty flavor to keep your customers thirsty and just enough heat to keep them munching throughout the night. They are a perfect snack for the bar because your cost stays low and the shelf life is fantastic!



    The Adventure: I caught interest in this snack because at every table and in front of every filled bar stool sat a bowl of these spicy nuts. I had a very heated time trying to sneak this recipe out of the "Happy Nights" Pub in Chaing Mai because the chef there didn't like me to begin with, let alone want to share his best selling item's recipe with me, but I was motivated to get that secret formula and if that meant spending 4 hours and $200 getting belligerent drunk with the bartender, that is what I did. After a long night and about 15 drinks the bartender finally broke and I scribbled the recipe on a wrinkled napkin. Although I had gotten what I came for the chef caught a glance of me speaking with the bartender and writing on a paper. The chef dropped everything he was doing, grabbed his 12 gauge, and chased me a quarter mile down the road. Luckily I spotted the Sheik Istana hotel, hopped in the guest elevator, and finally lost the chef.

    Tuesday, November 4, 2014

    Week 5 EOC: B-to-B

    The definition of Buying Behavior, says Superprofesseur.com, “is the decision processes and acts of people involved in buying and using products.”  There are four different major factors that influence a consumer’s buyer behavior; cultural, social, personal, and psychological.  Consumers develop product/brand preferences depending on these factors. “An individual and a consumer is led by his culture, his sub-culture, his social class, his membership groups, his family, his personality, his psychological factors, etc. And is influenced by cultural trends as well as his social and societal environment” –  Perrau posted on theconsumerfactor.com. A consumer will go through a decision making process when purchasing a product.  This five-stage process consists of problem recognition, information search, evaluation of alternatives, purchase decision, and post purchase decision. The adoption process and the diffusion process are heavily relied upon when it comes to the growth rate and total sales level of new products.  “The rate (speed) of adoption depends on consumer traits, the product, and the firm’s marketing effort.” – studymarketing.org.  The diffusion process recounts the procedure in which different members of the target market often accept and purchase a product. Business markets are marketplaces where organizations purchase products for resale, or for use in manufacturing another product.  Now that we have looked at what influences us as individuals, business buyer behavior will be described.  The stages of the business buying process are problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review.

    Week 4 EOC: There's an App for That

    Induconnects, the Instant Messenger organized by professional industry, to make networking that much easier!

    After doing some light research I found a company, called Linkd In, they are an online networking site that allow you to "link" with people you're interested in working with. Showing all of there professional contact information and Job Title. They recently went Mobile and released an app for android and iPhone users.

    Tuesday, October 28, 2014

    Week 3 EOC: Making Money for Good

    "Bombas" is a for profit company that donates one pair of socks for every pair they sell, using a marketing tactic called "One for One." They have donated over 92,000 pairs of socks through their partnership with Hannah's Socks, They have a goal of donating 225,000 pairs and Bombas is by their side helping them reach it.

    Tuesday, October 21, 2014

    Week 2 EOC: Boston Consulting Group - Video Games

    The video game industry is very complex, with not only game consoles but also mobile games available through the app stores, and PC games on the rise. Microsoft’s Xbox One in my eyes would be considered a Star because Sony has surpassed Microsoft in console sales several months in a row, pushing Microsoft to promote the Xbox One more. As Sony has beaten Microsoft in cumulative unit sales thus far, Microsoft has gotten more aggressive with pricing and promotions,” (Source). Although PlayStation has more console sales overall it is estimated that Microsoft has made more money because of the higher price tag, “The Company unbundled the Kinect in order to reduce the Xbox One's price point to $399, matching the PlayStation 4, in June. Unit sales promptly doubled over the prior month,” (Source). With that being said I believe the PS4 is a Cash Cow. Sony sold 18.7 million systems in the last financial year - which ended in March - compared to Nintendo's tally of 16.3 million video games machines,” (Source). This is because the demand for Nintendo’s Wii U Lagged far behind that of the original Wii. Nintendo’s Wii U would fall under the Question mark category on my BCG matrix, because the demand is not very high and I feel as if Nintendo gave up on promotion for their product because it was taking to much energy to keep it afloat. This would leave the Dog open on my matrix and I feel as if games available through the app store on your mobile devices would fit this category well because the demand and promotion are low but the availability and price range is great.

    Tuesday, October 7, 2014

    Week 1 EOC: Great Customer Service

    Last summer I was invited to record at the Odds On Recordings Studio in downtown Las Vegas. This is where I experienced the best customer service thus far, and for the price it was expected. I was welcomed at the door by their receptionist where he shook my hand and offered me a bottled water, he then lead me around the studio for a detailed tour and introduction to the staff. After being shown the run-around and lay-out of the studio I met the engineer I would be working with for the day. He shook my hand and asked if I would like to see his portfolio before we began. He was very professional and through his work showed me his skill and musical ear. I loved the sophisticated and professional vibe that this studio pushed towards their customers. It allowed me to feel comfortable and confident in the work we were completing. I felt as if they were working towards my desires and not their convenience, which is not how it seems to play out at most studios, but Odds On has a completely different story. On that day I was shown that they do care, are professional, and have the passion that any artist needs to take their music to the next level.

    Week 1 EOC: My Voice

    Oddio Ent. is a team of pure Hip-Hop heads bringing authentic vibes to real people. We have quickly created a local buzz for our talent in the Las Vegas Valley and within the West Coast region by staying fresh and active within the Hip-Hop Industry. Our team represents the Las Vegas Musical Collective "Bonafide Mob" and strives to help them rise to the top. The Mob consists of many multitalented artists including Young Dre, Willill, Hot Pocket, Relyt, Eric Alas, and Trey $tack$. They recently returned home from the "Dreams2Reality" tour opening up for Mark Battles, Derek Luh, Euroz, and Tyga in cities all around the US including Tempe, Portland, and Boise. Oddio Entertainment sees their audience as an extended family bonded by the music we all love & share. We plan to spread this love to the entire world and never stop pushing for greatness.