For my creative content I designed the packaging for my chocolates
Friday, December 16, 2016
Friday, November 18, 2016
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.
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.
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 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.
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.
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.