Wednesday, June 16, 2010

EVALUATION CONTROL

  • Constant market survey and research.
  • Customer service team to help people with their problem's about the product.
  • Implement a comprehensive plan to monitor the sales and to re-evaluate the market needs.

Our quality depends greatly on our marketing and the resources used. Our sales will continue to grow as long as our resourses and do not fail and we continue to create a incredibly unique experience through our lush vibrant product."If a company has identified its best customers, then it should make every effort to maintain and increase their loyalty."(page 302 chapter 19) By staying loyal to our product and customers we will be a huge success and continue to bloom into something extraordinary.


All quotes in marketing plan are from Lamb Hair McDaniel MKTG 3 book

IMPLEMENTATION

The implementation strategy for Hatshepsut Vodka will be a three phased approach. The first phase will concentrate on the quality of the product, setting up a stable environment, and creating the advertisements. The second phase will address client awareness throught intereations with our potential customers, promotions will start and continue through out the first year, and implementation of bars and nightclubs. " Interaction is the point at which a customer and a company representative exchange information and develop learning relationships." (page 296 chapter 19) The third phase is globalizing our product.

MARKETING MIX PRICE

PRICE
Our price for our Hatshepsut vodka will be 35$ it is not to over priced but not to low. We dont want a low price so that people dont percieve our vodka to be cheap and made with low quality ingredients. "Price is that which is given up in an exchange to aquire a good or service."(page 261 chapter 17) Of course our product will be more expensive if you buy a bottle at a nightclub. We will implement the idea of price fixing in our arrangement with the cost of our product at a bar. "Price fixing is an arrangement between two or more firms on the price they will charge for a product." (page 280 chapter 18)
All quotes in marketing plan are from Lamb Hair McDaniel MKTG 3 book

PROMOTION

Hatshepsut Vodka Advertisment


The first in a advertising campaign. "A series of related advertisements focusing on a common theme, slogan and set of advertising appeals." (page 229 chapter 15)

MARKETING MIX PROMOTION

PROMOTION
We will be using online retailing for products and also on our website will have promotions for our product. "Online retailing is a type of shopping available to sondumers with personal computers and access to the internet." (page 201 chapter 13) Our promotions will include online advertisments, magazine advertisments, promotions online, and open bar promotions through various clubs and bars. Another thing that we will be doing is creating off beat, interesting, and funny commercials for television that will air first in the United States and Canada. After a period of time we will expand globally. Another thing we will be offering is a premium when you buy a bottle. "A premium is an extra item offered to the consumer, usually in exchange for some proof that the promoted product has been purchased." (page 247 chapter 16)

MARKETING MIX DISTRIBUTION

DISTRIBUTION
Our company is based out of Calfornia but we have a small operation in Cairo, Egypt. We are distributing to all of the United States, and Canada untill it grows then we are going global. Our main marketing channel will be bars and nightclubs. Our product will not be sold in grocery stores or gas stations. Only bars, nightclubs, restaurants, and selected carriers. "A marketing channel is a set of interdependent organizations that ease the tranfer of ownership as products move from producer to business user or consumer." (page 173 chapter 12)

Tuesday, June 15, 2010

MARKETING MIX PRODUCT

Since our company as well as our unique product is all new we will be implementing a new- product strategy. " A new- product strategy is a plan that links the new product development process with the objectives of the marketing department, the business unit, and the corporation." (page 146 chapter 10)
Our product strategy- Hatshepsut pomegranate honey infused vodka is made from grapes because the ancient egyptians had many vineyards. It is triple distilled vodka it is filtered in a very unique process using only the best water from the incredible nile river. Our core service is creating an excellent product for people who want something delectible to drink. "Core Service is the most basic benefit the consumer is buying." (page 164 chapter 11)

MARKETING MIX

"A product may be defined as everything both favorable and unfavorable, that a person receives in an exchange." ( page 131 chapter 9)
In our marketing mix you will see that we have a unique product that has key features that make our product a favorable one.

TARGET MARKET STRATEGY

"Marketing information is everyday information about developments in the marketing enviroment that managers use to prepare and adjust marketing plans."(page 113 chapter 8)
We will use our marketing information to learn new things about our target market.
Target Market- Our target market will be young woman ages 21-30 who enjoy going out with their friends for a night on the town. Our customers will be mainly in the middle class who can buy their own bottle.

SWOT (situation analysis) THREATS

Threats

· There are always new competitors in our home market.

· Regulations of the alchol market.

· Taxation on our products.

· Strengths of our competitors in the global market. " Marketing that targets markets throughout the world-has become an imperative for business." (page 47 chapter 4)

· Foreign currency exchange rate.

· Impact of global economy on our business.

· Better quality products.

· Better priced products.

· Not established in the liquor industry as premium vodka.
Threats

· Not established in the liquor industry as premium vodka.
  • We have a concentrated targeting strategy. " A market niche is one segment of a market."(page 107 chapter 7) We are only targeting one single segment.

SWOT (situation analysis) OPPORTUNITIES

Opportunities

· New product expansion; look for low cost opportunities and ones that leverage our capabilities.

· Partnership with other businesses- growing the business by partnering on specific work.

· Growth potential of new customers.

· Opportunity for growth in under-represented geographic markets.

· Opportunity for growth in new locations.

· Cost of marketing is less in the digital age: capitalize on the lowered cost with a stronger program. We will empliment the stickiness factor by offering fun promotions on our site.
"Stickiness is a measure of a websites effectiveness; calculated by multiplying the frequency of visits times the number of pages veiwed during each visit." (page 84 chapter 6)

SWOT (situation analysis) WEAKNESSES

Weaknesses

· We are not the low-cost or low-price supplier in the market.

· Company name not recognized on a National level.

· We have a lack of marketing expertise.

· Competitors have superior access to distribution channels.

· We have recently focused on a diversification strategy which has a cost to implement.

· Middle priced- positioned in the middle, not the most expensive, but not the least.

· Lacking options of different flavours.

Opportunities

· New product expansion; look for low cost opportunities and ones that leverage our capabilities.

· Partnership with other businesses- growing the business by partnering on specific work.

· Growth potential of two new customers.

· Opportunity for growth under-represented geographic markets.

· Opportunity for growth in new locations.

· Cost of marketing is less in the digital age: capitalize on the lowered cost with a stronger program.

SWOT (situation analysis) STRENGTHS

Strengths

· We have marketing managers. " Marketing managers can help reduce dissonance through effective communication with purchasers." (page 67 chapter 5)

· We pay attention to our costs, and contain costs wherever possible but not at the expense of quality, safety, or the environment.

· We have a new, innovative product.

· We have an experienced workforce dedicated to the “mission.” Employees feel “ like part of the team.”

· We work on continuous excellence.

· We are Currently in a good financial position.

· Good quality product.

· Hand crafted in small batches.

· Competitive marketing campaign.

Objectives

OBJECTIVES

1. Our objective is to generate over $ 500,000 in sales in the first year.

2. Our objective is to increase sales by 80% by the second year.

3. Our objective is to increase awareness among our target audience by 70% within 2010.

4. Our objective is to inform our target audience of the features and benefits of our product, leading to a 50% increase in sales in 2010/2011.

5. Our objective is to retain at least 80% of our customers from 2010 into 2011 as repeat purchasers.

6. Our objective is to obtain 80% customer satifisfaction on our annual customer satisfaction survey a year from the launch of our product.

7. Our objective is to spread our product worldwide to major restaurants and bars/nightclubs, and have it in every major city across the globe by end of 2011.

8. Our objective is to have an incredible staff that is goal orientated, efficient, and who are good in sales to advertise and put our product out in the market. " A good salesperson makes or exceeds the assigned quota." (page 31 chapter 3)
All quotes in marketing plan are from the book Lamb Hair McDaniel MKTG 3 book

Wednesday, June 9, 2010

How can you use social media to support and protect your brand?

The way that you are able to use social media to support and protect your brand is to act quickly. everything can be uploaded online and commented on within a matter of min. So for a company not to beable to quickly put their input into something that is slandering them and their product can prove to be devestating to their company. Personally i think that if i had my own company i would hire people to just sit and look all day at what people are posting about my product. This would be a good way to learn about new things that your customers want in your product that you didnt know about. Or it would be a good way to learn what you are doing wrong with your product to maby change a few things and get the ball rolling on getting new customers. Another thing that you could do is make a public statement about the product interjecting on what was said and fix the problem. Dont wait untill it is to late because everything online is read right away and then it is in the back of online users minds.

Wednesday, June 2, 2010

One thing that i bought

I bought a new imac 27" screen and I think that it is the best thing that I have ever purchased. I really love the big flat screen and all the things that I can do with it. It was expensive and I did pay 1,800$ for it. Spending that much for one thing was a big deal to me. When I took it home and unwrapped it I realized it was so worth that and to be honest I probably would have paid more if I had to. Apple represents a clean, efficient, fun product. Having my new computer has made my life incredibly easy because I work on the computer all the time for my major. I realized that investing in something that will make my work move quickly and cleanly was one of the best decisions I could have made. I think that now that I have switched to Mac I will never go back to PC because all I have gotten with my PC is problems, and viruses. My MAC is a different story and every time I walk into my room and see it I think wow that is one beautiful piece of machinery. I love you MAC.

Business Mission Statement

Business Mission Statement
Hatshepsut Vodka- Pomegranate Honey infused vodka. Our mission is to give the best quality and taste in exotic vodka. We will make sure that every bottle of our decadent vodka that we sell will meet the highest of expectations not only for our company but for our customers. "The Fundamental problem with a sales orientation, as with a product orientation, is the lack of understanding of the needs and wants of the marketplace." (page 5 chapter 1)We will consistently provide our customers with impeccable service by demonstrating warmth, graciousness, efficiency, knowledge, creativity, professionalism and integrity in our work, by always listening to our customers and what they want from us. Our goal is to have every customer that is enjoying our product be impressed in the knowledge that we have succeeded in making the best possible exotic vodka that we possibly can. We will create and maintain vodka that is exceptional in every detail, right down to the packaging. We will not create a "marketing myopia by defining our business in terms of goods and services rather than in terms of the benifits that our customers seek." (page 18 chapter 2)
All quotes in marketing plan are from Lamb Hair McDaniel MKTG 3 book