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.

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!

Week 6 EOC: Me X 3

When I think of footwear I think of Converse. I have found that over the 40+ shoe collection that I own this shoe always ends up on my feet. I was introduced to this elegant footwear back when I was about ten years old. Ever since then I have been a promoter. I chose this shoe because it is simple, easy to put on, extremely fashionable, and super universal! This shoe goes with anything, and I wear it with my casual gear, as well as with my suit and tie. I personally identify with this idea because as a songwriter I am always trying to keep my life simple and easy to manage so I can spend my time creating music and living happy. This shoe has me all over it!

This Microphone sets my intimate side. I have been a songwriter and producer for quite some time now. I write and record songs because I love capturing thoughts in mid air and making them mine. I can see the mouth of the universe open when I am alone in my studio, recording a piece of time through the microphone, this is my chance to sing.

As simple and old-fashion that I am, I also embrace technology. I am bit of a nerd and love my computer. Not only do I love my computer for all its possibilities, but I also work at Apple and love it! I chose the Apple’s Macbook Pro because I can create music, keep in touch with the world through the internet, keep all my memories inside my photo gallery, and stay productive with my work-ALL IN A TINY BOX! While the night is young and I look forward to sleeping when I’m 40 I will continue to work hard, and will  with my apple.

Week 5 EOC: Social Networks and Job Hunting

If marketers want consumers to feel a connection to their ambassadors and to feel that an ambassador is accessible, they have to look beyond the cool customers” who are typically thought of as influentials. The best ambassadors, he says, are “friendly, everyday brand loyalists who love to talk to people.

(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 144). 

This is a great way to penetrate and find out from the public. By selecting individuals that are as neutral as possible results in more accurate data. 

Facebook is making a dent. VMware Inc., a Palo Alto, Calif., cloud-computing company, hired its first full-time recruiter dedicated to working on social networks in November and is building a team of recruiters who will focus on social platforms. 

In addition to using real and actual public and incorporating Facebook, the biggest Social network is double genius! Everyone knows about Facebook and how influential it is, so using this media is great! I do realize the possible anti-social mentality it can bring within our community, but as far as using to market and influence to go onboard with the product-FANTASTIC!

I don’t agree that too many employers are using Facebook to judge and decide on their potential candidates for hire. I think that resumes should be enough. I don’t see how Facebook, or any other social network should be used to accurately pinpoint a person’s character. We, as human being have multiple sides and the one we take to our employer should be enough.