Week 10 - Final Project BOC & EOC: Les Paul

Les Paul revolutionized the music industry. He was the father, or pioneer because in 1941 he invented the electric solid body guitar. He delivered things like phase shifting, overdubbing, reverb effects, sound on sound, close-miking, multi-tracking, echo and delay. His innovations made him a legend but his talent and style, including his licks, trills, chording sequencing, fretting techniques and timing made him one of the best musicians in modern times. He married singer Mary Ford, and backed up performers ranging from Bing Crosby to Dinah Shore to the Andrews Sisters. He died in 2009 and his imprint on the music, television, and recording industry will not be forgotten. In memory of Less Paul, on the Google guitar, I have played a little jingle just for him.

http://goo.gl/doodle/Va7Bw

Week Final Project 9 EOC Three great mission statements

I have read all of my classmates mission statements and I have found Ritsch The mission of Toxic Vodka is to position ourselves in the market as a unique brand. We will target a customer base of young adults and deliver them a quality product. Our vodka will be recognized as a unique brand that stands out from all the others in the market.Toxic Vodka will be about more than just a great tasting drink, it will be about the lifestyle, for those who never  fear the Toxic. I liked it because it is simple and to the point. No fancy words but clearly on a mission. "Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace.", Marketing: An Introduction, Armstrong/Koetler, pg 6) 


The next great mission statement is Grover's "The mission of Verb Vodka is to give a quality beverage to accent a good time, as well as promoting responsibility when consuming alcoholic beverages and participating in sexual activities.  that is why every bottle of Verb Vodka comes packed with two condoms. Verb vodka prides it’s self on being the beverage that leads to a sensual and pleasurable experience, yet Verb Vodka understands the importance of being responsible in that arena also." Nice and simple. Nothing too complex, and his vodka lead to a sensual and pleasurable experience. not to many mission statements make that claim. you want to buy it just to see if it is true.


Next up, is:  Stefany Chirino,. It is nice knowing what women want, and to top it off, you can buy it in a bottle. The Femme Fatale experience is over all what makes our product a great one. We carefully choose the best places to find our best ingredients to give you an over all quality taste. Giving women what they want, when they want it. A feminine delicious fruity taste for the women that deserve it. The exclusive drink for the exclusive woman. There, doesn't that make you want to buy a bottle of Femme Fatale vodka and then  maybe mix it with Grover's Verb vodka just for that special occasion. 

EOC Week 9: Final Project, Creative content

My goal is to brand a message with my creative content so it becomes a part of the entertainment rather than interrupting the entertainment. "(IMC) Integrated marketing communications. Carefully intetrating and coordinating the company's many communicatins channels to deliver a clear, consistent, and compelling message about the organization and its products." Marketing, an Introduction p. 382. My creative content for Billionaire Vodka will be a radio advertisement that states its most attractive feature - its incredible taste and its ability to transport you to that next level for which you have been striving in just on sip. Billionaire’s creative concept or “big Idea” will be a great message strategy and will be distinctive and memorable. Our copywriter and art director will team up to generate many ideas such as our phrase “flavored with opulence” and hopefully one of them will prove to be successful. It may emerge as visualization, a phrase, or a combination of the two. This creative concept will guide the choice of advertising appeals and will have three components. They will be meaningful, pointing out the benefits that make the product more desirable. Then, appeals must be believable; making the consumers believe the product or service will deliver the promised benefits. Lastly the appeals should be distinctive. They should tell how the product is better than the competitors. "For example, the most meaningful benefit of owning a wristwatch is that it keeps accurate time, yet few watch ads feature this benefit. Instead, based on the distinctive benefits they offer, watch advertisers might select any of a number of advertising themes." Marketing: An Introduction, Armstrong/koler, p. 392. So, when you purchase Billionaire Vodka, you will be confident you are drinking the very best on the market. “Creative concept: the compelling ‘big idea’ that will bring the advertising to life in a distinctive and memorable way. The creative team will find the best approach, style, tone, words, and format for executing the message.

My final project is a seperate CD as a radio advertisement and script, and has been handed in to the teacher.

Final Project, Implementation Evaluation & Control

Part of following the proper market analysis needed for your company’s success is paying attention to the management and marketing management. Managing the marketing process requires the four marketing management functions: analysis, planning, implementation, and control. “The company first develops company wide 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. Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed. Finally, marketing analysis provides information and evaluations needed for all of the other marketing activities.”, pp.55. Billionaire Vodka sales promotion programs will be evaluated and work to measure the returns on their sales promotion investments and will also evaluate the returns on other market activities. We will compare sales before, during, and after a promotion to see the effectiveness of the promotion campaign. We will asses the promotion’s effectiveness of its ability to attract new customers or more purchases from existing customers. It well be determined if we can hold on to new customers and their purchases. We will evaluate the long-run customer relationship and sales gains to determine if the promotions cost can be justified. Next, the marketer will define the sales promotion objectives and select the best tools for the job.  The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats. Marketing analysis provides inputs to each of the other marketing management functions” pp.66 Marketing, an Introduction, Armstrong/Kolter.  Implementing, evaluating and control of Billionaire Vodka all starts with market planning.  "A marketing strategy consists of specific strategies for target markets, positioning, the marketing mix, and marketing expenditure levels. It outlines how the company intends to create value for target customers in order to capture value in return." Marketing: An Introduction Armstrong/koler p. 56. This will help design the sales promotion program and then implement the program and evaluate the results. Further more, other promotion mix elements must be coordinated carefully with sales promotion within the overall integrated marketing communications program.

Final project, Marketing Mix, Price

Billionaire Vodka will increase its customer value and satisfaction relative to its competitors by offering a superior product at a reasonable price. The price is set to match consumers’ perceived value at around $45.00 pre bottle. “The company first assesses customer needs and value perceptions. It then sets its target price based on customer perceptions of value. The targeted value and price drive decisions about what costs can be incurred and the resulting product design. As a result, pricing begins with analyzing consumer needs and value perceptions, and price is set to match consumers’ perceived value.”Marketing: An Introduction Armstrong/Kolter p. 276. At Billionaire Vodka, we believe the consumer will realize the value of this vodka after the first sip“It’s important to remember that “good value” is not the same as “low price.” Marketing: An Introduction Armstrong/kolter, p. 276.  - it will be the best vodka experience the customer will ever have. To a vodka lover, price is nothing, taste is everything. 

Final Project, Marketing Mix, Promotion

Billionaire Vodka designs its promotion programs so that it communicates the proposed value to the target consumers in order for the customer to purchase the product. “The major marketing mix tools are classified into four broad groups, called the four Ps of marketing: product, price, place, and promotion…. …Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion).” Marketing: An Introduction, Armstrong/Koler. pp. 12 - 13. Billionaire Vodka designs its promotion programs so they convey the value to our potential customers and persuade them to purchase our product. “Thus, beyond practicing good customer relationship management, firms must also practice good partner relationship management.” Marketing: An Introduction Armstrong/Koler p. 31. Our company will work closely with its marketing partners both inside the company and throughout the marketing system. Based on the types of consumers that use a companies products and services, products and services fall into two classes – Consumer products and industrial products. Billionaire Vodka will be a consumer product for consumer consumption and intended on being a convenience product. “Consumer products are products and services bought by final consumers for personal consumption.” p. 211 Marketing an Introduction Armstrong/Kotler. Company’s market products differently according to the way consumers buy them, such as, convenience products. Which is defined as a consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort. 

Final Project, Marketing Mix, Distribution

Billionaire Vodka is a specialty product and has many loyal consumers in all major markets. Our customers make a special effort to locate and purchase our product with little comparison to other brands. They have a lower sensitivity to price and expect to find our product in quality establishments and fine outlets in any major market. Billionaire will partner with major distributors for improved joint performance. “…they must find ways to “partner” with major distributors in a search for distribution economies and improved joint performance.”. Marketing: An Introduction, Armstrong/Koler, pp. 231 - 232). Having an increase in the number of competitors due to the profit opportunities shown by Bilionaire will lead to an increase in the number of distributors. “Attracted by the opportunities for profit, new competitors will enter the market. They will introduce new product features, and the market will expand. The number of distributin outlets, and sales jump just to build reseller inventories” Markering: An introduction, Armstromg/Koler, p. 259. Billionaire will spend a lot of money on promotion and distribution and having already spent a lot of money on the product Billionaire expects to capture a dominant position. “In the growth stage, the firm faces a trade-off between high market share and high current profit. By spending a lot of money of product improvement, promotion, and distribution, the company can capture a dominant position.” Markering: An introduction, Armstromg/Koler, p. 260. The characteristics of Billionaire distribution, as an introduction, will build selective distribution, and as growth continues it will build intensive distribution, and then with maturity it will build more intensive distribution, and finally, in the event of declining sales, it will phase out any unprofitable outlets.