Fundamentals of Marketing
Wednesday, June 15, 2016
Week 10 EOC: Road Map to Success
-Make sure I study for the final exam
-Make sure I'm caught up with with my 50 tweets
- Finish half of whats left of my final
-Start on my creative content
-Make sure I'm caught up on blog
- Get a good rest the night before
-Eat healthy breakfast
- logo
- Have #2 pencil
- Be prepared
-Make sure I'm caught up with with my 50 tweets
- Finish half of whats left of my final
-Start on my creative content
-Make sure I'm caught up on blog
- Get a good rest the night before
-Eat healthy breakfast
- logo
- Have #2 pencil
- Be prepared
Week 9 EOC: Creative Content
My creative content will be focused primarily on the packaging and design of my product. The way your product presents itself is crucial and highly important. You want to design a products image that will attract customers into trying and/or buying your product. "The first three steps in the marketing process—understanding the marketplace and customer needs, designing a customer-driven marketing strategy, and constructing marketing programs—all lead up to the fourth and most important step: building profitable customer relationship"(Marketing: an Introduction, Ch. 2, Pg. 13) So for my creative content I will displaying to you how my product will look. The designing of the package is very simple but engaging and will show to you my method of my product. Stay tune!
Implementation Evaluation Control
Implementation Evaluation can be defined as "The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives."(Marketing: an Introduction, Ch. 2, Pg. 57).
The Who: This would be the Phineas Fogg Snacks company and
all other companies involved in promoting, distributing, and purchasers.
The Where: Is the location where my consumers work and where my product is being sold. Where my services and promotions will be offered to.
The When: This is anytime my customers are at the grocery store or bar where my product is being sold. People will notice more and more of our product and decide one day to purchase.
The How: Begins with a short term goal, which is starting small and not over exaggerating on the product so much. The process will evolve marketing strategy, distribution methods, pricing, and implementation Evaluation. "Because many surprises occur during the implementation of marketing plans, marketers must practice constant marketing control—evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained."(Marketing: an Introduction,
Ch. 2, Pg. 58).
Price
“To
some consumers, “value” might mean sensible products at affordable
prices, especially in the aftermath of the recent downward economic
spiral. To other consumers, however, value might mean paying more to get
more.” (Marketing:
an Introduction, Ch. 9, Pg. 275) Value
is important when looking at the price of an product, and because of
this I want create an equal line between value and pricing. Since most
Frito Lay products are dirt cheap to make because of the cheap and
artificial ingredients, the price is also indeed cheap. Making customers
head directly to the chips. My product is more fancier with the
ingredients making the flavor and product valuable, bring that sense
that you payed for the quality. “Customer
satisfaction depends on the product’s perceived performance relative to
a buyer’s expectations. If the product’s performance falls short of
expectations, the customer is dissatisfied. If performance matches
expectations, the customer is satisfied. If performance exceeds
expectations, the customer is highly satisfied or delighted.”
(Marketing:
an Introduction, Ch. 9, Pg. 14)
My product will indeed have artificial flavoring and preservatives but
just a small amount where there will be room for quality and real taste.
The corn tortilla that is the base for all the layering will be 100%
real tortilla since it is usually easy to preserve corn tortillas
naturally. Most seasonings will be natural as well. “It’s important to remember that ‘good value’ is not the same as ‘low price.’” (Marketing: an Introduction, Ch. 9, Pg. 276)
Promotion
“The promotion mix is the marketer’s bag of tools for communicating with customers and other stakeholders. All of these tools must be carefully coordinated under the concept of integrated marketing communications in order to deliver a clear and compelling message.”
(Marketing: an Introduction, Ch. 5, Pg. 136)
(Marketing: an Introduction, Ch. 5, Pg. 137) After the success of Phileas Foggs Mexican Style Taco Rolls, there will be a time where promotion will be offered to our consumers. A promotion that I would most likely choose would be to offer my product in Mexican restaurants or bars on the day of Cinco de Mayo. With every purchase of a tequila shot or margarita you will get my product for free!! as for the bar promotion. For the restaurant promotion the idea of the promotion is to have customers who buy a meal get my product for free as well. The point is to have people try out or taco rolls and bring in new consumers with that very first try. “Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships.”
(Marketing: an Introduction, Ch. 5, Pg. 136)
(Marketing: an Introduction, Ch. 5, Pg. 377) One way to build customer relationships is to step outside business mode and reach out to your consumers in special ways or offering exclusive promotions and sales. The type of marketing strategy I will implement about our special promotion will be through commercials in select local states and local restaurants that are highly popular. "tools used to communicate with
consumers. For example, advertising includes broadcast, print, Internet,
outdoor, and other forms. Sales promotion includes discounts, coupons,
displays, and demonstrations. ” (Marketing:
an Introduction, Ch. 12, Pg. 377)
Distribution
"Companies can design their distribution channels to make products and services available to customers in different ways. Each layer of marketing intermediaries that performs some work in bringing the product and its ownership closer to the final buyer is a channel level. Because the producer and the final consumer both perform some work, they are part of every channel." (Marketing, an Introduction, Ch.
10, Pg. 311) For distribution, I've decided to implement the "direct marketing channel" strategy because I want my channel to be direct and be offered as soon as possible to my consumer. My idea is to work with a small business that is able to manufacture and package my product out to various locations. "Few producers sell their goods directly to the final
users. Instead, most use intermediaries to bring their products to market. They
try to forge a marketing channel (or distribution channel) — a set of
interdependent organizations that help make a product or service
available," (Marketing, an Introduction, Ch. 10, Pg. 311)
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