Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts

Monday, February 27, 2012

Final Projcet: Implementation Evaluation Control

Let us start with the book; Direct and clear, 
“Through implementation, the company turns the plans into actions.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 54.
Nothing can replace action. Initially, getting Mighty Beer out to people’s lips will require foot work. The success of the uniquely brewed drink will depend on my initial footwork to local bars. In addition to that, here is another great point, 
“implementation addresses the who, where, when, and how.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 57.
Because the focus of the chocolate sensation focuses on the mid 20 to 35 ish male, and taking the drink to the local bars during happy hour, delivering the news through the local Rock stations should footprint a great start for the spicy brew some stage work. This initial buzz should get the drink heard of.
“Still, implementation is difficult—it is often easier to think up good marketing strategies than it is to carry them out.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 57. 
Because of this, Staff selection has been elevated to its highest standard, ensuring the upmost best and ethical promoter of the Mighty Beer! Nothing can replace true promoters within the company. Overall, the book encapsulates the ultimate strategy by posing the following, 
“To be successful, companies must also be effective at implementation—turning marketing strategies into marketing actions.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 61.
After all these facts, let us see Mighty Beer take off and rule the palettes of Las Vegas! 

Final Project: Price

Setting a price tag on Mighty Beer is challenging because this business seeks the most profits, yet a quality product that stands on its own. However, even though there are samples of mistakes in the book like the following, there are some prices I believe wil fit properly to Mighty Beer.  
“Pricing is the number-one problem facing many marketing executives, and many companies do not handle pricing well.”
Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 275. 
The Spicy sensation will be available in three servings. The first option is having the beer in a 24 OZ bottle for $7.00. The second spash is offered in a six pack variety for $15.00. The third option is for the ultimate and distinguished gentleman with company: The Growler only available at selected bars. This exotic beast is available in the 85 OZ. Pitcher for $25.00. Here is my attempt to deliver excellence at a moderately priced drink.


Overall, the customer, our guest wants to feel like they are having dialog with us. After all, it is their money. Take a look at this, 


“customers are interested in more than just the price; they are interested in the total costs of obtaining, using, and disposing of a product. Customers want the product and service to be as conveniently available as possible. Finally, they want two-way communication.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 54.

Final Project: Promotion

As Mighty Beer is preparing to come out and pour itself to the world, there must be an exciting entrance. The four P’s discussed in the book make sense. The four P’s deliver a buzz for the crowd. The book says,
“Marketing stimuli consist of the Four Ps: product, price, place, and promotion. Other stimuli include major forces and events in the buyer’s environment.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 137. 
Initial response says make a party, create an exciting event...have a promotion. After all, promotion promotes your product! ...right?
“contrasts the selling concept and the marketing concept. The selling concept takes an inside-out perspective. It starts with the factory, focuses on the company’s existing products, and calls for heavy selling and promotion to obtain profitable sales. It focuses primarily on customer conquest—getting short-term sales with little concern about who buys or why.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 11. 
The plan is to simply make rounds with bar owners, like originally intended and subtlety contribute to the world of beer drinking. Mighty Beer is looking for the quality drinker, not the loud one. Not in bulk.

Final Project: Product

Mighty Beer could be perceived as just another; and that is understood. However, even though my new product is a new creative drink my angle is to promote an experience. The following quote delivers the essence of what Mighty Beer should do in order to stand out.
“Customers form expectations about the value and satisfaction that various market offerings will deliver and buy accordingly. Satisfied customers buy again and tell others about their good experiences. Dissatisfied customers often switch to competitors and disparage the product to others.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning 
Solutions. Armstrong & Kotler p. 7.
This quote tells nothing about specific products, yet it speaks volumes about a customer and their perceived experience. Also, Apple Inc. is highly successful in focusing on how to better an experience, opposed to flooding the market with their product.
“Apple’s obsession with understanding customers and deepening their Apple experience shows in everything the company does.”Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 136.
Of course, quality is not overlooked because my beer must be tasty if the advertising promotes it at such. The highlight and focus on tasting an exotic beer, heavy with alcohol content goes hand in hand with the quality experience. This beer is for quality young men, focused on the refined drinks in life!



Final Project: Distribution

As revealed in class, distribution requires much of a companie’s budget. Mighty Beer and its exotic ways will be available localy in Las Vegas for now. The budget is tight and in order to deliver that high quality product my small company should crawl before it can walk.
“We will also investigate distribution through cell-phone outlets maintained by major carriers such as Verizon Wireless.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. MP7. 
As mentioned in the SWOT analysis, my main focus at the moment is to network with all the bar owners I know in Las Vegas to distribute “The Mighty”. This company also focuses on redistributing its profits back into the company and produce more of the high quality beer, and be able to distribute farther out. One focus for the time being is internet orders and we deliver straight from our website to customer. In the book (Marketing: An Introduction) they mention some interesting and costly facts about distribution. For example,
“Although these firms primarily use traditional transportation to distribute DVDs, newspapers, and more, the Internet holds the potential for lower product distribution costs.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 333. 

Final Project: Target Market Strategy

Initially, Mighty Beer would be out to every 21 and older beer drinker, but now looking back that approach would be self-destructive. The following quote seems to agree, 
“The first question is ‘What consumers will we serve?’. Good marketing companies know that they cannot serve all customers in every way. Instead, they need to focus their resources on the customers they can serve best and most profitably. The second marketing strategy question is “How can we best serve targeted customers?” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 30.
Thus, Mighty Beer was redesigned and tapered to a much closer aim. I did find a guideline to better understand why and where to direct my hard-earned advertising Budget. 
“The company’s marketing strategy outlines which customers the company will serve and how it will create value for these customers. Next, the marketer develops an integrated marketing program that will actually deliver the intended value to target customers.” Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler. p. 12.
Of course, as one moves into more and more detail about targeting Mighty Beer these two initial questions will help focus and shape my inital radio advertising to get the most of my audience. The aim now is to promote during sports events, right after any local concert commercials, and as many rock stations possible.

Final Project: Situation or SWOT Analysis

To begin my approach with my new product, and analysis was written down to better understand my beer. The first one is Strenghth: Mighty Beer is exotic because of the quality ingredients, with the help of experienced brewers and growers. Even though excitement for Mighty Beer is high, unbiased approach is essential.
“Managing the marketing function begins with a complete analysis of the company’s situation.”
Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler p. 54.
Weaknesses: Small company competing with smaller budget than bigger brands that have bigger advertising budgets. Quite rare product.
Opportunities: Being in the Audio industry and having business acquaintances around the Las Vegas area will help start my advertising launch. Friends at local bars are willing to showase Mighty Beer for a three months.
Threats: Bigger companies can sell their product for much lower price. Exporting costs may demand big budget, and force local only distribution. Customer may not be ready for a new and rare taste in beer.
“The company first develops companywide strategic plans and then translates them into marketing and other plans for each division, product, and brand. Through implementation, the company turns the plans into actions.”
Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler p. 54. 
Now that an internal and unbiased plan has been devised, it is now time for execution. These quotes from the book bring light to an initial plan that can truly set the stage for first execution of Mighty Beer!

Final Project: Objectives

As the ideas of planning, promoting, and executing the product to public can become overwhelming There is one task that must be done first: Objectives, Objectives, Objectives! To materialize on paper and organize is key. That is why a plan on paper is essential for My upcoming Mighty Beer. The following quote struck my attention as it completely resonates with me.
“it forces management to spell out its assumptions about the relationship between dollars spent and promotion results. But it is also the most difficult method to use. Often, it is hard to figure out which specific tasks will achieve stated objectives.”Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions.Armstrong & Kotler p. 388. 
The first objective to promoting Mighty Beer is to promote through local radio stations and expose it through men’s favorite radio stations. I also realize that my step one could be hit or miss. An advertising agent for Audi shares,
“John Wanamaker, the department store magnate, once said, “I know that half of my advertising is wasted, but I don’t know which half. I spent $2 million for advertising, and I don’t know if that is half enough or twice too much.”Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions. Armstrong & Kotler pp. 388 - 389.
Many young, beer drinking men love their cars, their radio, and their beer. My aim is to understand that and send it through their speakers. I also realize the potential loss of advertising capital, but there must be an organized effort.

Final Project: Mission Statement


"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace." Marketing: An Introduction. Armstrong/Kotler. Pg. 6


This is a great opportunity to let my audience know why I am here, in their market. My Mission Statement for Mighty Beer is to: Deliver A rich and exotic way of drinking!


 "Instead, the mission should focus on customers and the customer experience the company seeks to create." Marketing: An Introduction. Armstrong/Kotler. Pg. 7 
To find beer is easy, and one can choose many ways enjoy beer. However, the fact that Mighty beer focuses on delivering a rich and exotic (dark chocolate and pepper) beer at a 10% alcohol level is truly unique for those men that want one beer to complete the job. This drink focuses on the refined individual that understand quality. He gets it.




Monday, February 20, 2012

Week 7 EOC: The Pitch

Can you remember that last beer you had? Was is cold? Was it exciting? Here is a beer with a twist. Imagine a creamy, almost-frozen stout beer with a velvet twist of spicy dark chocolate! This is no ordinary beer; It was made for the Mighty men of the world. I introduce to you: Mighty Beer. Breakfast of Champions.
This refined class of beer has been brewed with the finest roasted barley and world's best cocoa beans ever! Our brewers have taken this craft very seriously and make sure every bottle is sealed with the upmost detail. Not only is this beer the most unique in flavor complexity, infusing the stout with dark chocolate and cayenne pepper, it also has 10% alcohol content! This is a meal inside a bottle. If you’re a man’s man, this bottle is for you.
Mighty Beer will be smashing the stores in three different sizes. The six pack will be $13.99, 32 oz. $4.99, and The Growler $14.99. Mighty Beer is expected to be out this summer. So leave your old medieval ways behind and taste a new way of thinking. Why drink that wimpy beer that takes too many to feel the buzz, drink a bottle that has it all!