The benefits of my vodka far outweigh the features. "The product’s design, its price, the shape and color of its package, and the stores that sell it all communicate something to buyers." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 12 Pg 5) Although Pure Perfection Vodka comes in a chic style bottle and has a fancy eye-catching label, this is not all the product offers. Pure Perfection's style hopes to invite the customer to drink and experience what we have to offer.
Pure Perfection Vodka offers the drinker value. "Differentiation involves actually differentiating the firm’s market offering to create superior customer value." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 6 Pg 4) We are a different kind of vodka. Our brand is filtered once whereas other vodkas can be filtered as many as 5 times! Taking out the imperfections lets the vodka lose all of it's natural flavoring. We like the natural stuff! Our unique taste offers an experience like no other vodka on the market today.
"Sellers must search for buyers, identify their needs, design good market offerings, set prices for them, promote them, and store and deliver them." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 1 Pg 10) Our job is to please you! Taste tests have confirmed that 28 to 45 year olds prefer our taste. Studiest have shown that you love our look, our bottle style, and our logo. We cater to you. Our products are available anywhere from liquor stores to night clubs. Availability is important when the vodka tastes this good.
Wednesday, December 7, 2011
Wednesday, November 30, 2011
Implementation Evaluation Control
Having business goals is an important part of being a business owner. It's important to be able to moitor those goals at regular intervals to make sure you are on the right track. Some of the tools that are important to utilize are "...budgets, schedules, and performance standards for monitoring and evaluating results." Marketing: An Introduction for Education Management Corporation, 10th Edition (Appendix Pg 2)
Budgets can be used to compare planned expidentures from a given week, month, or a period of time. Schedules show when tasks are supposed to be completed and when they are actually completed. Performance standards track the outcomes of marketing programs to see whether the company is moving toward its objectives.
Implementation evaluation control is a key for a successful business. "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." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 31)
Budgets can be used to compare planned expidentures from a given week, month, or a period of time. Schedules show when tasks are supposed to be completed and when they are actually completed. Performance standards track the outcomes of marketing programs to see whether the company is moving toward its objectives.
Implementation evaluation control is a key for a successful business. "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." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 31)
Marketing Mix: Price
Many consumers don't have the information or knowledge to know if they are paying a high or low price for a certain product. "They don’t have the time, ability, or inclination to research different brands or stores, compare prices, and get the best deals. Instead, they may rely on certain cues that signal whether a price is high or low." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 9 Pg 42)
Pure Perfection Vodka will not make a fool out of consumers. We believe our pricing is worth every penny. At $27.99 a bottle, Pure Perfection is cheap enough for consumers to afford, but just enough to seem luxurious. Our vodka pricing is purely strategic. "...some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 9 Pg 42)
"With promotional pricing, companies will temporarily price their products below list price and sometimes even below cost to create buying excitement and urgency." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 9 Pg 42) No promotional pricing will take place in this company, however. Promotional pricing is often negative for companies. If it is used too frequently, consumers will wait for brands to go on sale and only purchase according to who has what for a deal.
Pure Perfection Vodka will not make a fool out of consumers. We believe our pricing is worth every penny. At $27.99 a bottle, Pure Perfection is cheap enough for consumers to afford, but just enough to seem luxurious. Our vodka pricing is purely strategic. "...some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 9 Pg 42)
"With promotional pricing, companies will temporarily price their products below list price and sometimes even below cost to create buying excitement and urgency." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 9 Pg 42) No promotional pricing will take place in this company, however. Promotional pricing is often negative for companies. If it is used too frequently, consumers will wait for brands to go on sale and only purchase according to who has what for a deal.
Marketing Mix: Promotion
"Sales promotion tools are used by most organizations, including manufacturers, distributors, retailers, and not-for-profit institutions." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 13 Pg 37) No promotional discounts will be offered by Pure Perfection Vodka. It decreases the value of a product when it is on sale. It says that your product is so expensive a consumer must wait for a sale to buy it.
"Companies differ greatly, and each has its own special promotion needs." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 12 Pg 23) Our promotion plan will be involving customers in our company. Feedback will be taken into consideration by the consumers of our product. It is important to cater to customers, without losing face, and keep them happy. If it seems that our bottle shape is turning off, a promotion can happen. Customers may be involved with choosing a new bottle shape that best depicts our product.
"If properly designed, every sales promotion tool has the potential to build both short-term excitement and long-term consumer relationships. Marketers should avoid “quick fix,” price-only promotions in favor of promotions designed to build brand equity." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 13 Pg 38)
To promote Pure Perfection Vodka, these ads will be in magazines and possibly billboards. Every detail of this ad was carefully thought out to capture the essence of Pure Perfection. The girl in the ad has crazy hair to show the hectic nature of her life. The leaves on the ground shows an imperfect space she is relaxing in. Each imperfection of this picture represents the imperfect nature of our vodka and how it all comes together in the end to become a perfect taste. The simplicity, yet chic and sleekness, of the girl's clothing and makeup also capture what Pure Perfection Vodka is all about. The picture of the bottle will read, "Pure Perfection Vodka. A perfection imperfection."
"Companies differ greatly, and each has its own special promotion needs." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 12 Pg 23) Our promotion plan will be involving customers in our company. Feedback will be taken into consideration by the consumers of our product. It is important to cater to customers, without losing face, and keep them happy. If it seems that our bottle shape is turning off, a promotion can happen. Customers may be involved with choosing a new bottle shape that best depicts our product.
"If properly designed, every sales promotion tool has the potential to build both short-term excitement and long-term consumer relationships. Marketers should avoid “quick fix,” price-only promotions in favor of promotions designed to build brand equity." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 13 Pg 38)
To promote Pure Perfection Vodka, these ads will be in magazines and possibly billboards. Every detail of this ad was carefully thought out to capture the essence of Pure Perfection. The girl in the ad has crazy hair to show the hectic nature of her life. The leaves on the ground shows an imperfect space she is relaxing in. Each imperfection of this picture represents the imperfect nature of our vodka and how it all comes together in the end to become a perfect taste. The simplicity, yet chic and sleekness, of the girl's clothing and makeup also capture what Pure Perfection Vodka is all about. The picture of the bottle will read, "Pure Perfection Vodka. A perfection imperfection."
Marketing Mix: Distribution
When it comes to delivery, being creative has proven success for many businesses. "Companies often pay too little attention to their distribution channels, sometimes with damaging results. In contrast, many companies have used imaginative distribution systems to gain a competitive advantage." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 10 Pg 5)
A conventional distribution channel is "a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, even at the expense of profits for the system as a whole." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 10 Pg 12) A corporate vertical marketing system is what Pure Perfection will use as opposed to a conventional distribution channel. It "integrates successive stages of production and distribution under single ownership. Coordination and conflict management are attained through regular organizational channels." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 10 Pg 13) Effective corporate vertical marketing can make a company flexible and efficient, even more so than they already were. It can take a new line from production to distribution all over the world in stores in less than a month, rather than the average 9 months for other companies using different marketing systems. It's fast, it's effective, I don't see why our company would use any other method. It will give our company much competitive advantage.
A conventional distribution channel is "a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, even at the expense of profits for the system as a whole." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 10 Pg 12) A corporate vertical marketing system is what Pure Perfection will use as opposed to a conventional distribution channel. It "integrates successive stages of production and distribution under single ownership. Coordination and conflict management are attained through regular organizational channels." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 10 Pg 13) Effective corporate vertical marketing can make a company flexible and efficient, even more so than they already were. It can take a new line from production to distribution all over the world in stores in less than a month, rather than the average 9 months for other companies using different marketing systems. It's fast, it's effective, I don't see why our company would use any other method. It will give our company much competitive advantage.
Marketing Mix: Product
"A company’s product mix has four important dimensions: width, length, depth, and consistency." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 7 Pg 23)
The width, or number of different product lines the company carries, of Pure Perfection Vodka is one because it is a new product not yet on the market. For the future of our company, should it be successful, we plan to implement new ideas and create different product lines. New flavors will come out around the holidays and we may even experiment with colors, making our vodka exciting for bar tenders to mix with.
The length, total number of items the company carries within its product lines, of our product is not yet existent. It is important for our company to ensure that consumers enjoy our product. We would love to come out, right away, with a new flavor to keep the interest of the public. It will be exciting, once consumers catch on to our product, for them to see a new version of our product every once and a while.
Depth refers to the number of versions offered of each product in the line. Currently the number resides at one. Stated in paragraphs above, there is a future for expansion. A possibility for the future of Pure Perfection would be creating different types of alcohol perfect for mixing with our same products. Why not make your drink customizable? Spice things up!
"Finally, the consistency of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 7 Pg 23) Our products are very consistent. They are alcoholic beverages and offer the option of customization.
The width, or number of different product lines the company carries, of Pure Perfection Vodka is one because it is a new product not yet on the market. For the future of our company, should it be successful, we plan to implement new ideas and create different product lines. New flavors will come out around the holidays and we may even experiment with colors, making our vodka exciting for bar tenders to mix with.
The length, total number of items the company carries within its product lines, of our product is not yet existent. It is important for our company to ensure that consumers enjoy our product. We would love to come out, right away, with a new flavor to keep the interest of the public. It will be exciting, once consumers catch on to our product, for them to see a new version of our product every once and a while.
Depth refers to the number of versions offered of each product in the line. Currently the number resides at one. Stated in paragraphs above, there is a future for expansion. A possibility for the future of Pure Perfection would be creating different types of alcohol perfect for mixing with our same products. Why not make your drink customizable? Spice things up!
"Finally, the consistency of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 7 Pg 23) Our products are very consistent. They are alcoholic beverages and offer the option of customization.
Target Market Strategy
Targeting a specific market will ensure success in selling the product. "It identifies the total market, then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying the customers in these segments." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 22)
Pure Perfection's target market is 28 to 45 year old men and women. Although this is quite a large age gap, we feel these ages are very similar. Most men and women have decided on a career path and have started their hectic lives of running around, taking orders, and trying to make it big in their industry. People get stressed out every day because of their jobs and fast paced lifestyle. Pure Perfection Vodka can offer these stressed out men and women a moment of peace while drinking our vodka.
We aim to achieve profitable customer relationships. "The market consists of many types of customers, products, and needs. The marketer has to determine which segments offer the best opportunities." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 23) To determine this, our company will study market segmentation. We will focus on our target market. The market we are catering to needs to understand our angle, as described in the above paragraph. To make it clear, advertising is the key. We will make sure to research the types of magazines being read and the types of channels being watched by our market. Getting our product stuck in their head is important so the next time they go to the liquor store, they think of Pure Perfection.
"Most companies enter a new market by serving a single segment, and if this proves successful, they add more segments." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 27) In the future, Pure Perfection plans on doing just that. Alcohol is a large market that can be aimed toward young, old, and middle aged. If successful, we plan to expand to college aged young adults.
Pure Perfection's target market is 28 to 45 year old men and women. Although this is quite a large age gap, we feel these ages are very similar. Most men and women have decided on a career path and have started their hectic lives of running around, taking orders, and trying to make it big in their industry. People get stressed out every day because of their jobs and fast paced lifestyle. Pure Perfection Vodka can offer these stressed out men and women a moment of peace while drinking our vodka.
We aim to achieve profitable customer relationships. "The market consists of many types of customers, products, and needs. The marketer has to determine which segments offer the best opportunities." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 23) To determine this, our company will study market segmentation. We will focus on our target market. The market we are catering to needs to understand our angle, as described in the above paragraph. To make it clear, advertising is the key. We will make sure to research the types of magazines being read and the types of channels being watched by our market. Getting our product stuck in their head is important so the next time they go to the liquor store, they think of Pure Perfection.
"Most companies enter a new market by serving a single segment, and if this proves successful, they add more segments." Marketing: An Introduction for Education Management Corporation, 10th Edition (Ch 2 Pg 27) In the future, Pure Perfection plans on doing just that. Alcohol is a large market that can be aimed toward young, old, and middle aged. If successful, we plan to expand to college aged young adults.
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