Sunday, March 18, 2012
Monday, March 12, 2012
EOC Week10: What are the benefits vs the features?
What are the benefits verses the features of Fresh Fits Chocolate? Now that’s a great question, and one that I’m more than willing to tackle. Well here at Fresh Fits Chocolates we like to say that our chocolate is one that brings a man closer to his woman. We say that because it takes a very observant woman to know what her guy likes. So let me first give you the benefits of our chocolate. Well for starters its delicious. Yes, it’s made of pure dark chocolate which is known to be some of the best chocolate out there. Secondly, our chocolate not only taste great but it’s also good for you in many ways. It is filled with antioxidants, it has flavonoids, which help the body fight off any radical damage that can occur from toxins within the environment. Most say that dark chocolate is healthier than Green Tea, well here at Fresh Fits Chocolates we say “Try it and tell us how good you feel after”. “Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by product attributes such as quality, features, and style and design.” Now with this being said, the features of Fresh Fits Chocolates will be the unique design of the product. Just like the Air Jordan’s Fresh Fits will feature a collectors box that you can either personalize or leave to us to add our signature style for you. This along with the healthy attributes of Fresh Fits will make us more of a staple in the chocolate market, as well as, a household name when it comes to great out of the box gifts for your guy. In conclusion our benefits and features “clarify the benefits that product features will deliver to satisfy the needs of customers in each targeted segment.”
Monday, March 5, 2012
EOC WEEK 9: Three Great MIssion Statements
There are three Business Mission Statements that stood out to me that seemed to be the best. The first one is Todd Cecil’s mission statement. I choose his because his mission statement incorporates the quote, as it should have. It also goes right along with the quote basically outlining exactly what it is that his company plans on doing. Todd’s mission statement “is to provide the consumer with a tasteful way to gain the energy and health they once had as a child, and lead the energy supplement industry with a youthful approach of the product.” The Quote that he uses to emphasize this is Marketing strategies and programs must be developed to support these marketing objectives, to increase its market share,(Armstrong & Kotler, Marketing pg, 43) The second mission statement that I choose was from Oscar Corral. His was actually one that utilized the business statement of another company to emphasize what it is that he’s trying to do with his company. This is the quote that was used to help emphasize, “We create the Ritz-Carlton experience—one that enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.” (Marketing: An Introduction, Armstrong/Kotler, pg40). When reading his mission statement he hit on a point that a lot of people think about when it comes to chocolates, and that is, “Our market-oriented focus is to ensuring that a craving would not interfere with your day, whatever the occasion may be.” The third mission statement that I chose was from Fernando Trueba. In his mission statement he encapsulates the three quotes that he chose very well into his statement. His statement says, “Our sole business mission statement is to provide a beneficial service to the consumer. Reward the consumer with both emotional and physical health.” Now the quote that I feel he chose to directly balance that is “We define a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.” To me these were the best three that I read. I’m sure that everyone’s mission statement gives meaning and emphasizes exactly what their company is all about and what they plan on doing or bringing to the market. But these three did the job for me!
Monday, February 27, 2012
Week 8 EOC: Creative Content
There are a number of ways to market chocolate. Some people choose to market it with other products such as flowers or fruit. For the nature of what my product is I’m going to do a few things for it creatively to make it stand out. The first thing I’ll do is to choose a demographic region that I’d like to tackle then make musical commercials to speak to those demographics. For instance, if I’m targeting the 28-35 age range, the music in different areas will be different across the spectrum. Meaning it will have a hip-hop feel in some areas and an old school or kind of popish type of feel to it. My musical commercials will be recorded by me and may include some outside help from my peers. I’ll also have pictures of what we can make your gift look like. For instance if you have a shoe and a hat that are worn together, I can show you how it will come in the package together. My pictures will be actual pictures, as well as, some photo shopped examples. All in all I think this is going to be a marketing idea. When coming up with the different ideas for the creative side of things one always wonders how these creative ideas are going to generate monetary means. Well “a company’s mission should not be stated as making more sales or profits—profits are only a reward for creating value for customers”: Armstrong & Kotler (2011). Marketing: An Introduction Publishing pg. 41. Now what this means to me is that, yes the ultimate goal is to make money from this product by having the creative ideas push the envelop to make people what to buy the product.
Final Project: Implementation Evaluation Control
“Many managers think that 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. One firm can have essentially the same strategy as another, yet win in the marketplace through faster or better execution. Still, implementation is difficult—it is often easier to think up good marketing strategies than it is to carry them out.” The implementation of Fresh Fits Chocolates will be very aggressive into the marketplace. No we will not take the route of trying to start out with a celebrity backing us. Like every successful company the starting implementation will start with an aggressive street team attack. We will have to get flyers and business cards out. We will get our radio spots played at a pace where it would be impossible for Fresh Fits to not cross your mind when you’re thinking about purchasing your next gift. A “customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.” With us knowing this concept we at Fresh Fits Chocolates understand that in the beginning that it will be an uphill battle to gain the type of customer support that we desire to attain. But that will not stop us from constantly doing everything in our power to make Fresh Fits a household name for an outstanding product, excellent customer service, and an overall great experience with Fresh Fits Chocolates. The control of the success of the company ultimately lies with how we push the product and how the customers accept it. So yes our implementation will be very aggressive but not in a way to scare off any customers.
Final Project: Price
The price of whatever goods or services you sale to the public will always be up for debate unless it’s a price that they agree with. I’ve asked around and even did a little research myself about what the price would be for Fresh Fits Chocolate. “For most purchases, consumers don’t have all the skill or information they need to figure out whether they are paying a good price. They don’t have the time, ability, or inclination to research different brands or stores, compare prices”. So with that being said, I’ve decided to charge a price that is fair yet still competitive in the market place. For Fresh Fits Chocolates the price will be $25 for just the hat, $27 for just the shoe, $65 for both, and $75 for both in a customized box. “Other companies deemphasize price and use other marketing mix tools to create nonprice positions. Often, the best strategy is not to charge the lowest price but rather to differentiate the marketing offer to make it worth a higher price.” Though I’m not basing what I charge for my product by what any other company charges for their product I do still feel that we need to be in a position as to where if it was Fresh Fits or another company for the great gift that we’d come out on top. “Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices.” Here are Fresh Fits we want our customers to not only love the product that they get, but also know that with every gift they give or even if they keep it for them selves that they’re getting a atop notch product that’s definitely worth the price that they paid.
Final Project: Promotion
Promotions are an essential part of any businesses success. Most offer promotions during the holidays and most offer them during other special times of the month or year. Some do promotions in collaboration with other companies and some don’t do much promoting at all. But along with Distribution, here at Fresh Fits Chocolates the way we promote the product will be another key things that will either make or break how successful we can be. “Consumer promotions must usually be advertised and can add excitement and pulling power to ads. Trade and sales force promotions support the firm’s personal selling process.” “Sales promotion plays an important role in the total promotion mix. To use it well, the marketer must define the sales promotion objectives, select the best tools, design the sales promotion program, implement the program, and evaluate the results. Moreover, sales promotion must be coordinated carefully with other promotion mix elements within the overall integrated marketing communications program.” Now at Fresh Fits Chocolates is obvious that we’ll do a lot of promotions around the holidays. But we also will do a ton of promotions around the times of March Madness, The Super Bowl, The World Series, The NBA Playoffs, The NHL Finals, and any other big sporting event. We’ll do this because it will drive sales in those areas for whatever teams are doing well at those times. I’m sure the fans of the teams will love to have either a great gift of chocolate sculptured in their favorite teams hat. Besides, is there really a better way for a woman to tell her man that she loves him? Think about that for a second then answer with authority….NO THERE ISN’T! “The length of the promotion is also important. If the sales promotion period is too short, many prospects (who may not be buying during that time) will miss it. If the promotion runs too long, the deal will lose some of its “act now” force.”