Week 10 EOC: Under Control

Explain where you are on your progress in total.
What have you accomplished?
What do you need to do?


My total progress here in Fundamentals of Marketing is coming along well to think positive. My progress on the Final Project is coming along. I still need to finish typing up the answers to each of my 10 blog post. I have finished my quotes though which will make it a lot quicker to complete. I have completed my Creative content which is a 35 second song. I definitely need to catch up on my twitter account. So all in all i feel like I can complete this for Thursday!

Week 9 EOC: Social Media

Now that the world is one with social media its only right to use it as the gateway to success. In order to achieve this I think the best way to promote it would be by creating a media oriented advertisement such as a video or an audio clip. So to share my product over the internet I am going to create a short catchy song that will hook people of my generation. The genre of the song style will probably narrow my market. But It will give it the best shot to be likeable to my social media friends.

Mission Statement

Quencherz Soda Mission Statement: "To provide superb quality, superb value, rich taste and rich memories amongst our customers along with superlative exchange between business partners"
“A Mission Statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment.” Armstrong & Kotler Pg. 39
 

Implementation Evaluation Control

This will be my evaluation on how I will implement my product and the control I execute over its production
Quencherz Soda will

"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." Armstrong & Kotler PG 55.
"Many managers think that “doing things right” (implementation) is as important as, or even more important than, “doing the right things” (strategy). The fact is that both are critical to success, and companies can gain competitive advantages through effective implementation"

Price

Quecherz Soda will be a product that people buy that has value. Not meaning the price is going to be cheap. I want to convey that my product has a rich "worth spending" value. For that matter my product Quencherz Soda will be priced at a flat rate of 15$ at any bar on the strip. The ingredients and the pop itself will not be sold in stores because it would de-value my product.
"Price is only one element of the company’s broader marketing strategy. Thus, before setting price, the company must decide on its overall marketing strategy for the product or service." Armstrong & Kotler PG 281.  And because of that I believe my market of younger adults will pay the price because when they come here they are looking for a good time. And what better way to impress there friends than to buy an amazing drink. That goes hand in hand with the Las Vegas strip.
"Zone pricing falls between FOB-origin pricing and uniform-delivered pricing. The company sets up two or more zones. All customers within a given zone pay a single total price; the more distant the zone, the higher the price."  And because this will be a local product distribution first this wont be an issue. When I decide to expand my brand to the whole west coast then I will make the price zones more important. For people in Washington they will only pay an extra dollar. And you may think "well why would they travel all the extra miles for a dollar cheaper" and its simply because with this drink your buying onto the scenery the LAS VEGAS STRIP. The drink is an experince.

Promotion

I will promote my product through social media sites and within them offer a free sample of the drink will help spread the word about the drink. I think the best way to also to effectively get the information is to have a research study involving surveys. "Research studies can be powerful persuasion tools; companies often use study results as claims in their advertising and promotion." Armstrong & Kotler PG 130. "Did you like it?" "What's it taste like?" questions like that. The more I know about my audience the better I can promote. I will take a hit on the cost for promotion but I need to invest in it otherwise I cant expect my product to be recognized."Promotion spending is relatively high to inform consumers of the new product and get them to try it. Because the market is not generally ready for product refinements at this stage, the company and its few competitors produce basic versions of the product." Armstrong & Kotler PG 259.

Distribution

My distribution is going to be an exclusive line only available in limited buildings on the Las Vegas Strip. By doing this I hope to attract an audience that will specifically go to a particular building because it carries the Quencherz Soda.

Product

My product is a unique Soda including three flavors, 1 carbonated, and all of them are non alcoholic so they don't have to be mixed. that alone tells you that the Soda is tasty by itself. But by mixing it with vodka's the drink comes alive. Quencherz Soda product will be offered in a limited amount of bars and clubs located on the Strip in Las Vegas, Nevada.
"The objective of descriptive research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product." Armstrong & Kotler PG 107.

Target Market Strategy

"The customer-driven marketing strategy discussed in the previous section outlines which customers the company will serve (the target market)" Armstrong & Kotler PG 12.
 Quencherz soda will be targeting an early 20's to late 40's group. Including men and women.

"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." Armstrong & Kotler PG 31.

"The second marketing strategy question is “How can we best serve targeted customers?” (differentiation and positioning)." Armstrong & Kotler PG 31.

To best serve our targeted customers we will attack them with modern adverstisements and up to date promotions. 

Situation or SWOT Analysis

Quencherz Soda's strengths include a simple range of flavors that are recognizable. Also having the product distributed just on the Strip will draw a big crowd, helping profitability. Some of the weaknesses would be that the drink is heavily targeted towards the younger crowd which willl knock out a big portion of the demographics but its a risk I am willing to take. The opportunities seem really beneficial here in vegas and specifically on the strip. because there's a constant tourism crowd.

"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Armstrong & Kotler PG 56.

"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." Armstrong & Kotler PG 56.

"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." Armstrong & Kotler PG 56.

"And threats are unfavorable external factors or trends that may present challenges to performance." Armstrong & Kotler PG 56.

Objectives

My objectives for Quencherz Soda and the Company is to first become established and to receive good reviews on the drinks. then secondly to become Recognized as one of the great drinks you can get in Vegas  and Third would be to broaden the distribution to be known as an exclusive West Coast Drink.

Week 8 EOC: Creative Content

I have decided my creative content for my product Quencherz Soda will be an audio clip advertising my product with a song. I will choose a beat that has an uplifting style to it and from there write a couple lines that will tell what my product is and what feeling it gives.
QUENCHERZ SODA (SONG PROMO)

Week 7 EOC: The Pitch

When you think of soda what do you think of? Carbonation, Fizzing sensation, a flavorful delight. Rarely do you think quenched thirst, that's what waters or juices are for. So when you think of soda-pop. Quincherz Soda will be the newest, Most thirst-quenching delight of soda in the business! Offering a small but diverse collection of satisfying flavors including a punching "Very Cran berry" Ginger Ale, a "Sweet Peach" Ginger Ale that's Caffeinated, and a "RicoLime" Ginger Ale. "Quincherz Soda, an exhilarating and rich taste for a refreshing good time."
"Quincherz Soda, an exhilarating and rich taste to quench your thirst for a good time."
"Quincherz Soda, Rich taste for a Rich time."

Week 6 EOC: Me Times Three

Nike

One of the first things that describes me is Nike. Nike is something that has always been influenced in my life growing up. A lot of times it was athletes who carried that image over but also just other people. The Nike look had a upscale athletic and modern feel to there attire. I almost always choose a pair of Nike shoes when I go shopping. I almost always buy Nike socks, jackets, shirts, the list goes on. Nike makes me feel good about myself. Not that I need Nike, but Nike makes me feel better.

Studio Microphone

As I stated before, Nike makes me feel better about my image. But when it comes to this Studio Microphone it's more important than my image. This Microphone is nearly all of what my talent and work comes too.

Week 5 EOC: Social Networks and Job Hunting

It seems social networks are the work horses in the marketing realm today. After reading the Brand Ambassadors section in the book it was very helpful in understanding companies tactics and plans. In today's generation the amount of power the people have is incredible. And from the article it appears the companies and Marketing groups recognize the consumers influence. "Marketers often try to identify opinion leaders for their products and direct marketing efforts toward them. They use buzz marketing by enlisting or even creating opinion leaders to serve as “brand ambassadors” who spread the word about their products. Many companies are now creating brand ambassadors programs in an attempt to turn influential but everyday customers into brand evangelists" Armstrong & Kotler: Marketing pg 142. When they can choose ambassadors to represent their product in a social environment It basically becomes free advertisement. With Marketing teams starting to realize this over time, its companies are becoming more broadly recognized and considered.

Week 4 EOC: Business to Business

The difference between business to business and consumer marketing is business to business is a more thought out process which takes in a lot more factors then the average consumer would take in. When businesses buy for their company they're filling a hefty list of requisites. This includes technical and economic considerations, interactions within the buyers, and businesses buying process is more formalized compared to the Consumer. "Business buyers usually face more complex buying decisions than do consumer buyers. Business purchases often involve large sums of money, complex technical and economic considerations, and interactions among many people at many levels of the buyer’s organization. Because the purchases are more complex, business buyers may take longer to make their decisions. The business buying process also tends to be more formalized than the consumer buying process." Armstrong & Kotler: Marketing Pg. 160 Consumer's buy strickly on a need or a want and when money is in the hands of the consumer it becomes a demand. Consumer's only take into affect what they need in the moment. Their's no lengthy trial and discussion process with a product being purchased by an average consumer. "Finally, business markets have more fluctuating demand. The demand for many business goods and services tends to change more—and more quickly—than the demand for consumer goods and services does. A small percentage increase in consumer demand can cause large increases in business demand. Sometimes a rise of only 10 percent in consumer demand can cause as much as a 200 percent rise in business demand during the next period" Armstrong & Kotler: Marketing Pg.160

Week 3 EOC: My Demographics

"One thing that all of the Millennial's have in common is their utter fluency and comfort with digital technology. They don’t just embrace technology, it’s a way of life. The Millennial's were the first generation to grow up in a world filled with computers, cellphones, satellite TV, IPods, and online social networks. A recent study found that 91 percent of Millennial's are on the Web, making up 32 percent of all U.S. Internet users. According to another study, 77 percent of Millennial's frequent social networking sites and 71 percent use instant messaging. “All generations are comfortable with technology, but this is the generation that’s been formed by technology,” says a Yahoo! executive. For them, “it’s not something separate. It’s just something they do.” Armstrong & Kotler: Marketing Pg. 74 Do I agree with this? Yes! I feel that the definition well suits me in particular and I think it describes a lot of people in our generation. Everything in my daily life will one way or another use technology! And technology is known as well as the back of my hand. There’s not a lot that we can’t figure out when it comes to computers, cellphones, TV, IPods, and online social networks! When you look at previous generations its hard for us to understand that they didn’t grow up with the same technology. Something so easy for us to do can be hardly understandable. I have a couple family members that still don’t even use cell phones or a computer. When I reference anything about our technology today it’s a foreign language to them.

Week 3 EOC: Making Money for Good

A company that has strived to make a difference in the world through a charity is Safeway. On a list of charitable companies that compete, Safeway ranks 3rd in the United States by donating 7.5% of its total profits in 2009. So in 2010 Safeway gave away $76,500,000 to popular causes including Breast Cancer awareness, Prostate Cancer awareness, Easter Seals, Special Olympics, and Muscular Dystrophy Association. The company has constantly striven to push donations through checkout lines in all 1,964 Stores across the country and that number is growing. “Cause-related marketing has become a primary form of corporate giving. It lets companies ‘do well by doing good’ by linking purchases of the company’s products or services with fund-raising for worthwhile causes or charitable organizations.” Armstrong & Kotler: Marketing Pg 88. When you go shopping at Vons here in Nevada, you're really shopping at Safeway. Everything is stilled owned by Safeway it’s just let the name Vons remain because that would be considered a monopoly to take over every "Vons". Safeway uses a philosophy that they strive on and teach, this being Customer Service. The customer always comes first when working for Safeway. They feel if they can please the customer the customer will return to shop at a store that provides quality service. By doing this customers are more apt to Donate or round of to the nearest dollar amount for one of the Causes being implemented at the time. “To exercise their social responsibility and build more positive images, many companies are now linking themselves to worthwhile causes. These days, every product seems to be tied to some cause.” Armstrong & Kotler: Marketing Pg. 86.

Week 2 EOC: Boston Consulting Group - Video Games

When we take a look at the BGC analasys of video game consoles today there's a similar analasys on each console. They all currently land inbetween 'Cash Cow' and 'Dog'. The market for each of these consoles has slowly dwindled and are not looking up. Since these products have been out for sometime now. The market is not in a buying mood. The phone industry is the dominant force right now. Because their easily accesible and offer really good graphics with little effort to play. With a console you need a dedicated gamer to sit down and play the game. But the market for the phones are high and the potential buyers market is huge. So phones sit inbetween the Star and Question Mark.

Week 1 EOC: Great Customer Service

My first superior customer service I experienced happened earlier last year when my friends and I stopped at a local Arby’s to eat. It wasn't necessarily the customer service in the beginning that won us over; it was the way they responded in a tough situation.  In our case we ordered a fair amount of food between the three of us and the total came to $16. We preceded to hand them a payment via Debit Card and the machine was having a difficult time. At first our patience was fairly intact but after the third to fourth failed attempt to properly get our card wiped and payment fulfilled our patience dwindled. We had already pointed out that we were displeased with the service they were providing. They responded in a professional manner and for the most part I could tell the cash register girl was genuinely concerned and embarrassed that this issue was happening. I’m sure we were of no convenience when we walked in 10 minutes prior to close. But that is no excuse because they run a business from the hours posted on the outside door. So after the girl at the register continued to fail at getting our payment through she proceeded to converse with the only other employee there.
“Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences produced by these products. These sellers suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs. They forget that a product is only a tool to solve a consumer problem.” Armstrong & Kotler: Marketing Pg 7.
With that being said I feel the employee forgot what was really important but within time she realized the customer need was what’s important at the end of the day. Eventually they provided an excellent service to us. Why you ask? After a total of a 14 minute wait they gave it to us all for free, including free desserts as an extra apology.

Week 1 EOC: My Voice

I want to bring a new dimension of skills to the industry today. I want to specialize in Filmmaking for the Music Video Industry and create an unbeatable customer satisfaction rate, along with the highest standard of video quality around. My passion for music is what’s pushed me personally to want to pursue the video side of music. The visuals of a song can speak just as loud as the song itself. I want to make a connection through people I have never met simply by them watching a Music Video. Film allows us to take a vision and record it digitally to share. In my case I have always wanted and have been intrigued with the works of a professional music video! The companies that currently work this area of the film world are amazing at what they do, nonetheless, but I believe it’s not a friendly price figure to pull in a mass audience of potential buyers. This is where I believe I can take over and provide, produce, and direct affordable music videos to the general public. It’s been in my blood since I was a little kid to record songs and to make music videos for them. Granted I haven’t learned nor captured the best quality yet. I’m taking the steps to bring some of the most creative, modern, and tech savvy Music Videos this Industry has ever had.