No
matter how much planning and preparation that you do, it means very little if
it is executed improperly. “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.” (Pg. 57,
Marketing: an Introduction, Armstrong & Kolter). Planning is very important
as it gives you a form of direction and idea of where you will take your
product or company, you don’t want to dive headfirst into something and have it
completely backfire because there wasn’t any research or planning done; on the
other hand you could have a great understanding of what you want done but it
doesn’t mean anything if you don’t follow the plan and adapt to any changes
that are thrown at you. A way for the Crystalline Vodka to monitor if its plans
and research on where to place and market itself are working go back to social
media; this is to check people’s opinions on the product and to see if it is
seeing approval inside its desired demographic and adjust any strategies
accordingly.
“Because many surprises occur during the implementation of marketing
plans, marketers must practice constant marketing control—evaluating the
results of marketing strategies and plans and taking corrective action to
ensure that objectives are attained.” (Pg.
58, Marketing: an Introduction, Armstrong & Kolter). While it is important
to follow the plans and strategies that are set forth and adhere to them as
close as possible, one cannot be limited to function only off the plan, it is
important to test the waters every now and then for any changing trends and
adjust to best fit the customer’s needs. The objectives of Crystalline Vodka,
in this case providing a clean true drink, are to be adhered to, but allow it
to be flexible in where it is consumed. After all research is done and it is
being promoted through the clubs and other various media when it is implemented
it should be monitored in various aspects such as sales and public opinion to
see how well it is performing.
Showing posts with label Final. Show all posts
Showing posts with label Final. Show all posts
Friday, March 4, 2016
Price
“Price and service are the major marketing factors; branding and
advertising tend to be less important.” (Pg.
212, Marketing: an Introduction, Armstrong & Kolter). If the price is too
high for a product you could lose a customer base being price out. On the other
hand if your prices are too low you put a stigma of low quality around your
product, but gain the buyers who would buy this at its lower price. An idea for
a price of this drink would be at $30 for a 1.75L bottle. This would put it as
a fairly quality vodka on par with other brands, but with just enough headroom
in the price compared to those brands to entice possible buyers who want a
quality drink for a fairly reasonable price. “A small
percentage improvement in price can generate a large percentage in
profitability.” (Pg. 275, Marketing: an Introduction, Armstrong &
Kolter). By offering the drink at a slightly reduced price to the competition,
there is the possibility that, while still having an aura of quality, it would
be perceived as slightly more affordable than other brands. Having the price at
this amount puts it in a realm of quality, but it is still a fairly reasonable
price not excluding too many people who might be interested in purchasing it.
Distribution
“Beyond creating brand conversations, on their own or by invitation,
customers are having an increasing say about everything from product design,
usage, and packaging to pricing and distribution.” (Pg. 19, Marketing: an Introduction, Armstrong &
Kolter). Being that one of the main points of this drink is to be distributed
inside of Las Vegas clubs there is a mild bit of exposure going on as it is.
The design of the product also says something about it as well; for instance
this product has a minimalistic clear design where you can see through the
bottle seeing how clean the drink is. This could be discussed with customers
online and if there are any issues with anything, the quick feedback of the
internet can allow us to take necessary actions to correct any problems.
“Resellers are distribution channel firms that help the company find customers or make sales to them. These include wholesalers and retailers who buy and resell merchandise.” (Pg. 68, Marketing: an Introduction, Armstrong & Kolter). For this drink resellers are a main point that needs to be addressed. One of the main points of this drink is to be sold in environments such as clubs and stores for people to buy. “Marketing channel firms—suppliers and marketing intermediaries, including resellers, physical distribution firms, marketing services agencies, and financial intermediaries—cooperate to create customer value.” (Pg. 94, Marketing: an Introduction, Armstrong & Kolter). Since it would be in a club environment the bartenders and the club could make the decision to promote the drink and endorse it in such a way for people to want to go and get that when they go off to get a drink they offer this drink up. For the stores, when people go off to buy it for themselves the stores could position this in such a way that it grabs the attention of potential buyers.
“Resellers are distribution channel firms that help the company find customers or make sales to them. These include wholesalers and retailers who buy and resell merchandise.” (Pg. 68, Marketing: an Introduction, Armstrong & Kolter). For this drink resellers are a main point that needs to be addressed. One of the main points of this drink is to be sold in environments such as clubs and stores for people to buy. “Marketing channel firms—suppliers and marketing intermediaries, including resellers, physical distribution firms, marketing services agencies, and financial intermediaries—cooperate to create customer value.” (Pg. 94, Marketing: an Introduction, Armstrong & Kolter). Since it would be in a club environment the bartenders and the club could make the decision to promote the drink and endorse it in such a way for people to want to go and get that when they go off to get a drink they offer this drink up. For the stores, when people go off to buy it for themselves the stores could position this in such a way that it grabs the attention of potential buyers.
Promotion
“The most dramatic digital technology is the Internet. The number of
Internet users worldwide now stands at more than 1.4 billion and will reach an
estimated 3.4 billion by 2015.” (Pg.
27, Marketing: an Introduction, Armstrong & Kolter). This is a great added
dimension to the word promotion and getting the name of your product out there.
First it allows a company to put something out there, like a new product or
promotion, and get nearly instantaneous feedback about what the general public
thinks about it. One of the great advances of the internet for interactions of
this nature is social media; these include avenues such as Facebook and Twitter
as places where the name of a product could gain some recognition in name and
possibly influence buyer behavior. For this vodka it could be great as it could
be promoted on social media in terms of featured in this club or the preferred
drink of a group of people or somebody.
Once the name of the product is known and in the minds of those who will purchase it then all they have to do is go out and get it. “Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.” (Pg. 136, Marketing: an Introduction, Armstrong & Kolter). Though this drink is great in a club environment, straight or as a mixer, it is also a great drink for the home as well. It is not necessarily a drink exclusive to the party club and bar scene, it could be enjoyed at home as it would not be a drink to knock one off their feet. Once this drink is in the houses of people, then another way of promotion opens up where it is spread by word of mouth and recommendation. There are other avenues to be explored as well such as television, promoting it inside of the clubs, and on the radio as well.
Once the name of the product is known and in the minds of those who will purchase it then all they have to do is go out and get it. “Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.” (Pg. 136, Marketing: an Introduction, Armstrong & Kolter). Though this drink is great in a club environment, straight or as a mixer, it is also a great drink for the home as well. It is not necessarily a drink exclusive to the party club and bar scene, it could be enjoyed at home as it would not be a drink to knock one off their feet. Once this drink is in the houses of people, then another way of promotion opens up where it is spread by word of mouth and recommendation. There are other avenues to be explored as well such as television, promoting it inside of the clubs, and on the radio as well.
Product
The
product that is being sold here is a distilled vodka that boasts a clean crisp
taste. The name of the product is Crystalline Vodka; its name was chosen to
represent it as a clean and clear drink. “Marketers
want to develop unique market positions for their products. If a product is
perceived to be exactly like others on the market, consumers would have no
reason to buy it.” (Pg. 52, Marketing: an Introduction, Armstrong &
Kolter). What makes this product unique is the care and preparation put into
each bottle. We pride ourselves on making a clean drink that can be molded to
whatever the taste of the customer would want, as well as have its own unique
clean true taste of vodka for those who would want just a good clean drink.
“Positioning is arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.” (Pg. 52, Marketing: an Introduction, Armstrong & Kolter). It is important for people to see your product in order for them to want to buy it. If they can’t see your product, especially if they are unfamiliar with your product how are they to know what it is or if they should get it? In a club or bar environment it should be displayed alongside the other drinks for the people to see. A great place for it to be displayed would be on a rack behind the bar or in a store at about eye level for more people to see. Seeing people enjoying the product would help it be seen as well.
“Positioning is arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.” (Pg. 52, Marketing: an Introduction, Armstrong & Kolter). It is important for people to see your product in order for them to want to buy it. If they can’t see your product, especially if they are unfamiliar with your product how are they to know what it is or if they should get it? In a club or bar environment it should be displayed alongside the other drinks for the people to see. A great place for it to be displayed would be on a rack behind the bar or in a store at about eye level for more people to see. Seeing people enjoying the product would help it be seen as well.
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