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.