Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts
Friday, June 3, 2011
Final Project: Implementation Evaluation Control
In order to take the first step to success for the company, certain things need to take place." The company first develops companywide strategic plans and then translates them into marketing and other plans for each division, product, and brand."Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 55. This was simply done by first finding the perfect location to start the distillation process for our perfected spirit. We came together as college schoolmates. we are all from Santa Barbara, and we figured that California has the best weather for production, which led to the locale of our headquarters. We then decided on the company name or brand (IN-SEASON Spirits.) After accomplishing that we divided the company into different departments: (Creative- which came up with the different flavors. Finance- which regulates all costs and budgeting. Marketing -constantly coming up with innovative ideas on showcasing our brand to the public, socially, electronically, verbally, etc. Packaging- once distillation is completed and product is ready for distribution and sales, this department is in charge of bottling it and making it pretty.) This is an example of how the company is run by some young executives, and how our product becomes reality. Once all the plans are laid out and every employee or executive has a job or responsibility to execute, its time to implement! "Through implementation, the company turns the plans into actions." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 55. By doing so hopefully, every plan turned to action by the company is the right one. Collectively from beginning to end everyone that is part of the whole production process plays a big importance in the overall picture of the success of the company. "Many managers think that “doing things right” (implementation) is as important as, or even more important than, “doing the right things” (strategy). Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 55. I strongly agree with this statement. I feel that you can do the right things, and have positive outcomes, but if you dont neccesarily outline and plan it out with some sort of direction, you would be taking backward steps as opposed to moving forward.
Final Project:Marketing Mix- Price
We are a premium priced brand."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, and get the best deals. Instead, they may rely on certain cues that signal whether a price is high or low"Marketing: An Introduction for Education Management Corporation, 10th Edition pg 292. That "cue" that the consumer may need is all in the "strawberry" flavored vodka. Once they taste the freshness and subtleness, they will compare to other flavored vodkas they have recently tasted they will automatically be turned on to our product, once they realize there is no after kick or bite. Our bottles you will find retail at around $45 at stores such as Smiths, Ralphs, Whole Foods, and Bristol Farms. Our aim and goal is to be placed or be inside upper scale fine dining establishments, Lounges, Nightclubs..etc. We are at all the bigger markets around the United States such as Chicago, NY, Miami, Las Vegas, and California.
"The concept of customer value is critical to good pricing and to successful marketing in general. Slow down for a minute and be certain that you appreciate what value really means."
Marketing: An Introduction for Education Management Corporation, 10th Edition pg.285 Our aim is not to be very commercial. We are priced in the higher on the higher end scale because of who we are and the great pride that IN-SEASON Spirits takes in bringing you a boutique Vodka that comes in small batches once a year when our fruit is in peak condition to be picked and distilled at its finest stage. Once our fresh Strawberries are picked, distilled, and bottled in small batches the Spirit or our Product is distributed to our loyal consumers and different accounts across the United States and once its gone for the year its gone, then we start the process again for the following year.
"The concept of customer value is critical to good pricing and to successful marketing in general. Slow down for a minute and be certain that you appreciate what value really means."
Marketing: An Introduction for Education Management Corporation, 10th Edition pg.285 Our aim is not to be very commercial. We are priced in the higher on the higher end scale because of who we are and the great pride that IN-SEASON Spirits takes in bringing you a boutique Vodka that comes in small batches once a year when our fruit is in peak condition to be picked and distilled at its finest stage. Once our fresh Strawberries are picked, distilled, and bottled in small batches the Spirit or our Product is distributed to our loyal consumers and different accounts across the United States and once its gone for the year its gone, then we start the process again for the following year.
Final Project: Marketing Mix - Promotion
IN-SEASON Spirits uses strategic marketing ideas and tools for the promotion of this unique product. We are heavily involved in social media such as FaceBook, Twitter, Blogsites, etc. We advertise on Billboards in major cities, busiest or well-known areas such as Miami Beach, New York Times Square, LA's Sunset Blvd, Las Vegas's very famous "Strip." Etc.. You can also find IN-SEASON ad campaigns inside boutique couture publication's such as "Ocean Drive,' "944" and Lifestyle publication's such as "Cigar Aficionado," "GQ," and "Detail." IN-SEASON Spirits pushes the envelope heavily on our marketing because of our strong competition in the "Spirits" Business. "Just as good communication is important in building and maintaining any kind of relationship, it is a crucial element in a company’s efforts to build profitable customer relationships." Marketing : an introduction / Gary Armstrong, Philip Kotler. — 10th ed. pg. 377 We feel that you constantly have to be in the public eye or you can very easily be forgotten. IN-SEASON is also a main sponsor at The Winter Music Conference in Miami which is an annual event held in MiamiBeach in mid- March. "Personal selling is the interpersonal
arm of marketing communications, in which the sales force interacts with customers andprospects to build relationships and make sales. Sales promotion consists of shortterm incentives to encourage purchase or sale of a product or service." Marketing: An Introduction for Education Management Corporation, 10th Edition pg. 411We have a marketing team of young individuals that are constantly coming up with great innovative ideas on how to promote our brand. We Co-promote events at different major Nightclubs and Lounges in major cities across the United States. Every year we participate in the biggest conventions such as The Bar and Nightclub convention thats held the beginning of March in Las Vegas. Along with Bar and Nightclub convention we also have a booth at MAGIC, which is The biggest Fashion and retail convention, that is also held in Las Vegas during the months of February and August. We are always looking for sponsorship opportunities, to strengthen our unique brand. For inquiries please contact Luis Silva @ (702) 272-4700. or EMAIL: Lsilva@in_seasonspirits.com.
arm of marketing communications, in which the sales force interacts with customers andprospects to build relationships and make sales. Sales promotion consists of shortterm incentives to encourage purchase or sale of a product or service." Marketing: An Introduction for Education Management Corporation, 10th Edition pg. 411We have a marketing team of young individuals that are constantly coming up with great innovative ideas on how to promote our brand. We Co-promote events at different major Nightclubs and Lounges in major cities across the United States. Every year we participate in the biggest conventions such as The Bar and Nightclub convention thats held the beginning of March in Las Vegas. Along with Bar and Nightclub convention we also have a booth at MAGIC, which is The biggest Fashion and retail convention, that is also held in Las Vegas during the months of February and August. We are always looking for sponsorship opportunities, to strengthen our unique brand. For inquiries please contact Luis Silva @ (702) 272-4700. or EMAIL: Lsilva@in_seasonspirits.com.
Final Project: Marketing Mix - Distribution
IN-SEASON Spirits, currently is distributed in California's Los Angeles metropolitan area, as well as Ventura county and Santa Barbara, and San Francisco, by" Exclusive Distribution, which means
Giving a limited number of dealers the exclusive right to distribute the company’s products in their territories." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 324 Our distribution also includes Miami, New York, Chicago, Las Vegas, and other selected markets. Our brand currently is distributed by major distribution companies such as Deluca distribution and Southern Wine and Spirits. Once our product is finished and has gone through the still and distillation process at our main plant in Santa Barbara, it is then packaged and sent out either by trucks all throughout certain markets in California and Las Vegas. Our product that goes to our East Coast accounts such as New York, Chicago, Miami gets shipped and delivered by airplane to their local distribution company that IN SEASON deals with and then dispersed to the desired destination of where the order was placed. Once IN-SEASON Spirits has accomplished the financial goals we have set for the brand in the United States, we plan on becoming even bigger internationally, but that will have to wait due to figuring out certain countries distribution systems. "In some markets, the distribution system is complex and hard to penetrate, consisting of many layers and large numbers of intermediaries." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg 325.
Giving a limited number of dealers the exclusive right to distribute the company’s products in their territories." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 324 Our distribution also includes Miami, New York, Chicago, Las Vegas, and other selected markets. Our brand currently is distributed by major distribution companies such as Deluca distribution and Southern Wine and Spirits. Once our product is finished and has gone through the still and distillation process at our main plant in Santa Barbara, it is then packaged and sent out either by trucks all throughout certain markets in California and Las Vegas. Our product that goes to our East Coast accounts such as New York, Chicago, Miami gets shipped and delivered by airplane to their local distribution company that IN SEASON deals with and then dispersed to the desired destination of where the order was placed. Once IN-SEASON Spirits has accomplished the financial goals we have set for the brand in the United States, we plan on becoming even bigger internationally, but that will have to wait due to figuring out certain countries distribution systems. "In some markets, the distribution system is complex and hard to penetrate, consisting of many layers and large numbers of intermediaries." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg 325.
Final Project: Marketing Mix - Product
"Product is Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. "Marketing: An Introduction for Education Management Corporation, 10th Edition pg. 208. The Story of our product, IN-SEASON Spirits continues in 2011, when we launched our flavor "StrawMISSBERRY" in 2009, it sparked a cult-like following of loyal fans across the country. In turn, it escalated the IN-SEASON brand to a whole new level. Today we have our unique flavor, "StrawMISSBERRY" (Strawberry.) Pretty soon we will be releasing four more refreshing flavors to the market, which will result in endless cocktail creations. These flavors are as follows:"PomaGRANITDAMNIT!" (pomegranate) the freshness of this fruit is produced during the months of AUG-DEC. "WhatA-MELON" (watermelon) flavored vodka, which is best in season through the months of June-Nov. Our 4th flavor of vodka is "The GRAPE-Escape"(Grape) in which this fruit is in season during the months of July-Dec. Our 5th flavor is "BaGUAVA-Mama!" (Guava) which this fruit is in season during the months of Nov-April. For more information about our upcoming product, please feel free to go to our website IN_Seasonspirits.com. IN-SEASON Spirits aims to show the world how serious we are about the exclusivity of our product and delivering the freshest flavored vodka the market has to offer. "Some companies manage very complex product portfolios""Marketing: An Introduction for Education Management Corporation, 10th Edition pg.220. We as a brand would love to become big enough to hold a complex portfolio, we are trying to take it one step at a time by releasing one flavor, even though we have 5 more in store.As for now IN-SEASON Spirits main and only focus is on strengthening the brand.
Final Project: Target Marketing Strategy
When unveiling a new product, companies come up with different plans or strategies on how to attack the market place or their competition. "Companies need to consider many factors when choosing a market-targeting strategy. Which strategy is best depends on company resources. "Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing This is a smart way of conducting business, if you want to be successful. IN-SEASON Spirits has recruited the best most experienced marketing individuals, to introduce our new product, which is "StrawMISSBERRY" Flavored Vodka in this highly competitive spirits field."When a firm introduces a new product, it may be practical to launch only one version, and undifferentiated marketing or concentrated marketing may make the most sense."Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg. 32. Although we have already come up with 5 unique flavors for our brand, we as a company thought that it would be best to concentrate on one flavor for now. To make sure that we market it properly and strengthen the brand before the release of our other flavors. Our vodka is very unique, therefore our main target is the more sophisticated type of individual from the ages 25-40. Our vodka is not what one would call a "shooter" type of beverage. It is meant to be more of a "martini" or "specialty cocktail" kind of flavored vodka. For this reason we chose to have marketing campaigns in more sophisticated type of publications, as well as strategically handpicked markets in different major cities.
Final Project: Situation or SWOT Analysis
SWOT Analysis is a useful marketing technique for understanding the companies or brands Strengths and Weaknesses, and for identifying both the Opportunities open to you, and the Threats you face as a business. According to the book "Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand." (Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 55). Some of the strengths of IN-SEASON Spirits are that we use the freshest of ingredients to make our vodkas as opposed to other "Big Boys" or well-known brands that are used to making mass production and using product not as refined as our exclusive product. Our Exclusivity is very important to our brand at the same time it could be a weakness or as I would like to call it a challenge. Challenges or obstacles can be overcome. Being that we are an exclusive seasonal brand, in order to stay in the public eye of our loyal fans, we depend on word of mouth marketing, and a lot of our spending budget is in that department. We feel that we have to spend money on marketing to compete with the bigger brands, that offer the same flavored vodka as IN-SEASON Spirits. According to the marketing textbook "One firm can have essentially the same strategy as another, yet win in the marketplace through better execution."(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 57). That is exactly how IN-SEASON Spirits feel when it comes to comparing our flavored vodkas to other more known flavors that carry the Absolut, Skyy, Grey Goose, Belvedere, Three Olives brands, there's no competition. That is our motto we live by, and thats what our loyal fans and consumers see in our product. "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."(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 57) IN-SEASON Spirits believes in this quote, that is why every opportunity we have we got to execute, especially being a fairly new boutique flavored vodka. As the Director of Marketing i intend to reach out to all the hippest, hottest restaurants in the major cities, like Chicago, Miami, LasVegas, New York, Los Angeles etc. and conduct tasting parties or mixers. Along with that Social media is going to be a major tool as well. We are heavily involved on Twitter, FaceBook, and all other social media outlets. One opportunity we look to jump on is that along with being a sophisticated Flavored vodka, for business men, we also take a "lady friendly" approach to the packaging of our product with the sparkling pink bottle with artistic lettering that translates along with the flavor, being strawberry. That in turn, is appealing to ladies that may want to try it, and enjoy it. Another opportunity that we hope to capitalize on is that we only release a limited yearly quantity of our fresh flavor, which leads to our exclusivity, that in turn equals anticipation to get hands on our product.
Final Project: Objectives
When a new company is starting out, it is very important that they have a strategic short term and long term plan. This plan is done by setting goals, being aware of their competition, budgets, what it is that they are trying to sell, etc. "Developing the promotion budget by (1) defining specific objectives, (2) determining the tasks that must be performed to achieve these objectives, and (3) estimating the costs of performing these tasks. "(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions pg 389. IN-SEASON Spirits main objectives are to continue to produce and distribute a great product using the freshest fruit year after year, using the most modern technology in our distillation process. Another objective is to cater to to our loyal fans, by keeping them up to date with any new products or flavors or business partnerships, promotions, or events that IN-SEASON Spirits may be conducting in the near future thru email, social media, or website.
Thursday, May 26, 2011
Final Project: Business Mission Statement
"IN-SEASON" Vodka celebrates life on every level. You are fascinated by the freshness that comes with this Strawberry flavored spirit, from the smoothness and subtleness as it hits your pallete.The complexity of the freshly distilled strawberries draw out and complements the flavors of whatever is mixed with. Add to that the distinctly clean finish of and absence of alcohol burn, and you have the most celebrated vodka cocktail experience IN-SEASON takes great pride in all the fine detail that comes with this product, aside from the freshness,and the uniqueness about the bottle packaging and presentation. "A clear mission statement acts as an “invisible hand” that guides people in the organization", Marketing: An Introduction, Armstrong/Kotler, pg. 39), it is important that Your brand has something special that is going to distinguish you from all the other brands of spirits out there, that are already established. It all starts out by your Mission statement. What do you want to accomplish 5, 10, 20 years from now."An organization exists to accomplish something, and this purpose should be clearly stated. Forging a sound MISSION" Marketing: An Introduction, Armstrong/Kotler, pg. 39. Along with our mission, we want to make sure that the consumer can enjoy a fresh strawberry flavored cocktail, socially, or while having a good time,and ALWAYS practicing safe, responsible drinking.
Thursday, May 19, 2011
Final Project:Pitch
I have come up with The best in-season fresh fruit flavored Boutique vodkas. Our first flavor is "StrawMISSBERRY Fields," farmed and picked in Ventura county. This delicious tasting fruit is in-season from the months of March-October. We specialize in producing the finest fruit flavors using the finest, fresh In-season fruit. We are a boutique product that produces in small batches from a small distillery along the beautiful coast in Santa Barbara.We are looking to introduce other flavors to the market in the near future. These flavors are "PomaGRANITDAMNIT!" the freshness of this fruit is produced during the months of AUG-DEC. "WhatA-MELON" flavored vodka, which is best in season through the months of June-Nov. Our 4th flavor of vodka is "The GRAPE-Escape" in which this fruit is in season during the months of July-Dec. Our 5th flavor is "BaGUAVA-Mama!" which this fruit is in season during the months of Nov-April .We are a premium priced brand. Our bottles you will find priced at around $45 at stores such as Smiths, Ralphs, Whole Foods, and Bristol Farms. Our aim and goal is to be placed or be inside upper scale fine dining establishments, Lounges, Nightclubs..etc. We are also in bigger markets around the United States such as Chicago, NY, Miami, Las Vegas, and California."Although such value pitches might work for now, long-term national-brand success requires continued investment in product innovation and brand marketing"Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg 232. Which that is the plan IN-SEASON Spirits has for our long term success. We plan on constantly upgrading our products, evolving as a company through time and staying in the public eye through innovative and trendsetting marketing.
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