Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts
Wednesday, March 2, 2011
Implementation Evaluation Control
The last thing we will have to focus on is implementation, evaluation and control.Through implementation we are going to put our marketing analysis into action. We are going to implement our plan by providing the best value to our customers while maintaining an excellent customer service policy. We are going to bring an excellent management team to focus on watching over and maintaining our objectives. To maintain control we will need to adapt to changes that are happening in the marketing world. Many managers think that "doing things right" (implementation) is as important as, or even more than, "doing the right thing" (strategy). (Armstrong and Kotler (2011) Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 57) Implementing our plan will be the key to our success. We will have to keep close evaluations on our sales force. We will evaluate them on their ability to "plan their work and work their plan". (Armstrong & Kotler (2011) Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 426) By implementing, evaluating and controlling our plan we will be successful in selling our face wash to a new type of buyer. In our case it will be men.
Marketing Mix
The marketing mix consists of product, price, promotion and distribution. The product we will be selling is face wash. The price point we will need to follow is going to be competitive. We are going to promote it by selling sex and distribute it where we can catch the eye of men. Because of the economy, "consumers are talking about reassessing their favorite brands... if they think they can get a better value with the same price, " says a marketing consultant. (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 221). We will promote through the web "A 30 second ad is a story we pull together for consumers on TV. Digital is an extension of that storytelling in a typically longer format"(Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 377) We want our brand to stick out from the rest. “Nike’s latest masterstroke is social networking, online and off” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 43) In order for us to maintain a competitive edge we will need to get online socially. We are going to have to prove to our customer that the value of our product is worth the price. We want to be able to say the same thing that a Trader Joe's captains says "People get hooked on something and they keep coming back for it. That's how it starts". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, page 274). That will be the key to our facial wash to get men hooked onto washing their faces with our brand of face wash. We will need to take a similar approach to buying as Trader Joe's does, "We buy in huge quantities straight from our distributors, which cuts out the middle man and lets us offer the lowest possible prices" (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 274). Our approach will be to find the cheapest ingredients to make our product as well as the cheapest way to distribute them. I feel to get our product started we can set a buy one get one free offer to men only. This may even encourage men to buy our face wash for their wives at the same time. I think our price point will be competitive at $4.99 for an 8oz bottle. We can blow competition such as Proactive away if we effectively show our customer that by washing your face on a daily basis with Clean & Clear face wash that they will never have a dirty face.
Target Market Strategy
All companies should have a marketing strategy and the marketing strategy should include a target market strategy. Our facial wash will be targeting men ages 18-45. Our marketing strategy will be achieved by creating value for our target customers. We will do this by using the concept of segmentation, targeting, differentiation and positioning. We will use segmentation to divide the total market into smaller segments. We will use targeting to select the segment or segments to enter. We will use differentiation to differentiate the market offering to create superior customer value. We will use positioning to position the market offering in the minds of target customers. We will evaluate the needs and behaviors our clients value. We will make our product attractive to men. We will differentiate our customer service from the service of our competitors and we will locate our product strategically. We will start local by listening to analysts that say "By all means go global, but the first thing you have to do is win on the ground. You have to go local". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 495). We will also listen to another analyst that says "You need to respect local culture and become a part of it". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 495) A global brand must "engage with consumers in a way that feels local to them". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 495). According to this advice we will go local before we even think about going global. Our strategy to target men is using sex to show that face wash is appealing. I think that we can try to position some facial wash as a cross sell at automotive stores right next to the hand wash. A lot of mechanics faces get dirty when they're working on cars and I feel that if marketed with the right signage this could be effective. I have attached an idea of what this may look like.
Targeting is not only about who we are serving but how we will serve them. the Ritz Carlton shares the idea of “The Ritz-Carlton Experience”—one that “enlivens the senses, instills a sense of well-being, and fulfills even the unexpressed wishes and needs of our guests.” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 193) It is going to be our job to provide a similar idea in that we want our customer to have the sense that if they use our product they will have a clean fresh face. Targeting also has to do with how a product is positioned. We want to place our product in our customers minds relative to our competing products. “Products are created in the factory, but brands are created in the mind,” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 193) We are going to place our product in our male customers minds by using the slogan "Because she won't kiss anything that isn't Clean & Clear. This slogan will give our target customer something catchy that will be embedded in their minds.
SWOT Analysis
Our company will need to complete a SWOT analysis. A SWOT analysis analyzes a companies strengths, weaknesses, opportunities and threats. Strengths are internal capabilities that may help a company reach its objectives. Weaknesses are internal limitations that may interfere with a company's ability to achieve its objectives. Opportunities are external factors that the company may be able to exploit to its advantage. Threats are current and emerging external factors that may challenge the company's performance. Some of our companies strengths will be that everyone needs to wash there face. Some of our companies weaknesses will be the challenge of getting a man to purchase the product on their own as opposed to a woman purchasing it for them. Our opportunities are that by gearing the sale of this product towards men we will be increasing our consumers buying power. We will now be catering to more than one type of individual. One of our threats will be our competition but I think our biggest threat will be ourselves. We are going to have to plan correctly in order for us to sell our product effectively. I think that internally we will need to focus our goal of having excellent customer service. To obtain this goal we will need to build a great repoire between ownership, mangers an employees. I think we should follow a customer service model as the model followed by Lexus “treat each customer as we would a guest in our own home” and “go to any lengths to serve them better.” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 218) We should not only go to any lengths to serve our customers but our employees as well. I think we should follow a service plan like the one followed by HP. It promises “HP Total Care—expert help for every stage of your computer’s life. From choosing it, to configuring it, to protecting it, to tuning it up—all the way to recycling it.” (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 219) I think we should provide our client with a service that allows them to learn proper facial care techniques and also allows them to provide feedback for what they want from Clean and Clear facial wash.
Objectives
Every company has objectives. An objective is an end that can be reasonably achieved within an expected time frame and with available resources. An objective usually includes many individual goals and are basic tools that underlie all planning and strategic activities. The main objective of our facial wash is to sell it to men between the ages of 18-45. Our objective is to have men want to think about our product when they are out shopping. Our advertising objective is going to be to prove that by washing your face woman will be more attracted to you. We are going to use the advertising objective that sex sells. Our challenge is how we can sell facial wash to men. We are going to achieve this challenge by setting research objectives. We will use exploratory, descriptive and causal research. Exploratory research is marketing research that gathers preliminary information that will help define problems and suggest hypotheses. Descriptive research is marketing research that better describes marketing problems, situations, or markets, such as the market potential for a product or the demographic and attitudes of consumers. Causal research is marketing research to test hypotheses about cause and effect relationships. We will try to set a high research objective like the objectives set by the company Kohler who claim to develop products that embrace the "essence of gracious living". (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 43) The next objective we will set will be an advertising objective.An advertising objective is designed to persuade, inform or remind. We will set an advertising goal such as the one used by Dunkin Donuts "In a recent national blind taste test," proclaimed the ads, "more Americans preferred the taste of Dunkin donuts coffee over Starbucks. It's just more proof it's all about the coffee(not the couches or music)." (Armstrong & Kotler (2011)Marketing: An Introduction, 10th Ed. Prentice Hall Publishing, pg 387) Our objective will be to create a catch phrase that will stick with men. We can create a catchy jingle that will stick in our target markets head so they will be thinking about the product when they are shopping.
Business Mission Statement
The mission for our product facial wash is to sell to men between the ages of 18-45. We want to be able to sell our product to men. We want men to be able to go to the store and want to buy this product for themselves without being embarrassed. They will no longer need their woman to buy it for them. The market for facial wash right now is just geared towards woman. In fact woman are the individuals that most products are geared too because they are the individuals that shop the most. “A brand, product, or service is more than just a physical thing. Humans that connect with the brand add meaning and value to it.” (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg,118) We are going to try and connect with men the best we can to prove that facial wash is not just a woman’s product. We are going to use the power that woman have over men to show them that by washing their face woman will attract to them more than a man with a dirty face. We will take a similar path that Nike took. There goal was to "to bring inspiration and innovation to every athlete* in the world." (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg, 43) Our goal will be to bring a clean face to every person in the world. A dirty face will become a thing of the past for men. Women will be a lot happier that they can share their facial wash with their man. “Successfully managing the customer experience is the ultimate goal,” (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg,47). Our statement will be "Because She Won't Kiss Anything that is not Clean and Clear." I think in the end our ultimate goal is the same as Cold Stone Creamery “to make people happy around the world by selling the highest quality, most creative experience with passion, excellence, and innovation.” (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg,47). After all isn't this what it is really about? To make the customer happy by providing them with high quality and offering the most creative buying experience with passion, excellence and innovation.
Wednesday, February 23, 2011
Develop Pitch
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| http://www.google.com/images?hl=en&biw=1680&bih=857&gbv=2&tbs=isch%3A1&sa=1&q=clena+nd+clear+facial+wash&aq=f&aqi=&aql=&oq= |
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