For my creative content I designed the packaging for my chocolates
Jessica Rose's Marketing Blog
Friday, December 16, 2016
Friday, November 18, 2016
Implementation Evaluation Control
Once the marketing plan for my product is in place, the next
step is putting my plan into action. “Implementation
is the process that turns a marketing plan into action assignments and ensures
that these assignments are executed in a way that accomplishes the plan's
objectives. Implementation activities may involve detailed job assignments,
activity descriptions, time lines, budgets, and lots of communication” (28). If
carried out correctly, a good marketing plan will become a successful business.
The next step following implementation is to evaluate if your plan was
effective. “Evaluation entails gauging the extent
to which marketing objectives have been achieved during the specified time
period. Four common reasons for failing to achieve a marketing objective are
unrealistic marketing objectives, inappropriate marketing strategies in the
plan, poor implementation, and changes in the environment after the objective
was specified and the strategy was implemented” (28). Using evaluation
you can decide whether your plan is successful or if you need to make changes
to your plan.
Price
I believe that using a multichannel distribution will be
successful for my company. The textbook describes both of my distribution
channels as good markets for my product. “Online
shopping accounted for more than $200 billion in sales in 2012, with sales
expected to reach $327 billion by 2016.13 Interactive shopping tools and live
chats substitute for the in-store interactions with salespeople and product
trials that customers traditionally use to make purchase decisions. Shoppers
can look at a much wider variety of products online because physical space
restrictions do not exist. While shopping, customers can take their time
deciding what to buy” (269). By selling my product on multi channels I will
be able to sell more product allowing me to keep my price at a steady rate. “Retailing's ultimate goal is to sell products to
consumers, and the right price is critical to ensure sales” (269). The price
I would like to sell my product for is $8. I believe this price is reasonable
for the quality and quantity of my product. “Price is also a
key element in a retail store's positioning strategy. Higher prices often
indicate a level of quality and help reinforce the prestigious image of
retailers, as they do for Lord & Taylor and Neiman Marcus” (269). Even
though my product is affordable it is still high enough to represent a higher
quality product.
Distribution
The distribution of my product is a selective distribution. “Selective distribution, is achieved by screening dealers
and retailers to eliminate all but a few in any single area. Because only a few
are chosen, the consumer must seek out the product” (250). My Product
belongs on supermarket shelves but not in every supermarket. My customers do
not shop at average grocery stores. My target market customers shop in
specialty grocery stores like Whole Foods, Trader Joes and Sprouts. These stores
will carry my chocolates. I saw a similar product at Trader Joes for the holidays,
the offer a “Chocolate Passport” which has several small chocolate bars from
different countries for $9.99. This would not affect my sales because my
product is unique but it shows that there is a market for this type of product
at stores such as these for around the same price I will be selling at. Another
channel I will use is an online store for anyone who doesn’t have access to my product. “Because channel preferences change throughout the
different stages of the shopping cycle, many companies have begun employing
multichannel marketing strategies, whereby customers are offered information,
goods, services, and/or support through one or more synchronized channels.
Recent studies have found that customers who use multiple channels when
shopping are more engaged and spend more than those who do not” (254).
Promotion
“Promotion includes advertising,
public relations, sales promotion, and personal selling. Promotion's role in
the marketing mix is to bring about mutually satisfying exchanges with target
markets by informing, educating, persuading, and reminding them of the benefits
of an organization or a product” (28). For my target market the best
channels for advertising would be online ads, Pandora (music app) ads and Facebook
ads. Facebook is mostly used by middle aged people so my target market would
see the ads there and Pandora is used by both groups of my target market. These
channels would be effective to get information about my product to consumers.
Product
Your product is
your company. What you choose to sell is the start of your brand and your
market.“The product includes not only the physical
unit but also its package, warranty, after-sale service, brand name, company
image, value, and many other factors. A Godiva chocolate has many product
elements: the chocolate itself, a fancy gold wrapper, a customer satisfaction guarantee,
and the prestige of the Godiva brand name. We buy things not only for what they
do (benefits) but also for what they mean to us (status, quality, or reputation)”
(27). My product, Aramata Premium Chocolates, will be made from high
quality, ethically sourced chocolate from Peru and Tanzania and the best spices
possible. Quality and ethicality are the most important things to me. The finely
crafted chocolate bars which are infused with berries and spices will then be wrapped
in foil and paper. The chocolates come six in a package (three of each flavor) and
are placed in a brown environmentally friendly cardboard Kraft box with a clear
recycled plastic lid and finally wrapped in a pretty ribbon. The nice looking packaging
will convey a message of quality and will be appealing to the target market.
Target Market Strategy
The target market of your product is important because you need to identify your market to decipher how to sell your product.“Marketing strategy involves the activities of selecting and describing
one or more target markets and developing and maintaining a marketing mix that
will produce mutually satisfying exchanges with target markets” (26). The market for my product is quite limited to
only two very specific groups. This is due to product and packaging design as
well as the place I will be selling the product. “The
target market strategy identifies the market segment or segments on which to
focus. This process begins with a market opportunity analysis (MOA)—the
description and estimation of the size and sales potential of market segments
that are of interest to the firm and the assessment of key competitors in these
market segments. After the firm describes the market segments, it may target
one or more of them” (26). The target market for my product are trendy
and environmentally conscious millennials and middle aged women.
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