Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts

Wednesday, December 14, 2011

Wednesday, November 30, 2011

Implementation Evaluation Control

In order to succeed with our marketing strategies for C'est La Vie Vodka, implementing our objectives is the best way to start. "Marketing Implementation is the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives"(Marketing An Introduction 10th Edition p33). As mentioned in C'est La Vie Vodka's marketing objectives, "The design concept allows the vodka to be different from its competitors by using a different shaped bottle unlike the usual vodka bottle. The bottle will appeal to its target market which consists of females ages 21 to 30 so much they may even want to keep the bottles as a collection." In order to accomplish this goal, the design of the vodka bottle must be chosen as well as the labeling. Other research must be done as well to ensure that their are no other bottles or labeling alike. "Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed"((Marketing An Introduction 10th Edition p31). To keep control of our marketing activities, the change in bottle shape will only be drastic enough to be recognized as the unique vodka that C'est La Vie is.

Marketing Mix: Distribution

When it comes to distribution, C'est La Vie Vodka won't be sold just anywhere. The vodka will be sold using selective distribution to places and companies that share a part of our image. "By using selective distribution, they can develop good working relationships with selected channel members and expect a better-than-average selling effort"(Marketing An Introduction 10th Edition p26). An example of a place here in Las Vegas will be the famous Sugar Factory Restaurant located right below the Eiffel Tower which serves as a perfect distribution area because the Sugar Factory is known for its sweets just like our vodka, and another Paris experience is only a couple feet away. Certain night clubs in Las Vegas will also be part of distribution especially where our target market likes to go clubbing the most. "Selective distribution gives producers good market coverage with more control and less cost than does intensive"(Marketing An Introduction 10th Edition p26). This method of distribution fits the needs and image of C'est La Vie Vodka and will be the main method of distribution.

Marketing Mix: Price

Because our C'est La Vie Vodka's target market is a considerably younger crowd, we have taken into consideration their demographics, the brand, the product, the value, and the experience to determine our pricing. "More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service"(Marketing An Introduction 10th Edition p4). Some target markets today consider quality over price as a means of purchasing a product. As a company we want our target market consumers to consider the quality of  C'est La Vie Vodka and the experience that comes with it. "Historically, price has been the major factor affecting buyer choice. In recent decades, non-price factors have gained increasing importance. However, price still remains one of the most important elements determining a firm’s market share and profitability"(Marketing An Introduction 10th Edition p4). As a consumer myself I take into consideration the worth of what I'm paying for and frequently ask if its worth it. I want my customers to know that its worth it and still be able to feel that they are benefitting more then the company because they can get a product with such value at a price they can afford. A sweet bottle of C'est La Vie Vodka will sell for $65.



Marketing Mix: Promotion

The promotion mix consists of "the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships"(Marketing An Introduction 10th Edition glossary). The promotional tools that are going to be used to promote C'est La Vie Vodka consists of advertisements in magazines, specifically fashion magazines. The majority of our target market is subscribed to fashion magazine such as Nylon and Elle, and will surely come across our ad. This ad will communicate what our vodka stands for and it will create an environment that our target market will wish to be in. "Competitors are using promotions to help differentiate their offers"(Marketing An Introduction 10th Edition p37). Because it is a fashion magazine, instead of just featuring a single advertisement, C'est La Vie can feature the party dresses that go along with our brand to help our target markets see themselves drinking our Vodka.

Marketing Mix: Product

Although C'est La Vie Vodka  is considered the main product, we believe the experience we offer along with the vodka serves as another product. It's not just a drink, but an adventure. "Products and services fall into two broad classes based on the types of consumers that use them—consumer products and industrial products. Broadly defined, products also include other marketable entities such as experiences, organizations, persons, places, and ideas"(Marketing An Introduction 10th Edition p6). As stated in the mission statement, "Our focus is to ensure that our drinkers experience the rush of adventure and the sweetness of living life to the fullest. When drinking our vodka, the saying C'est La Vie will become your personal philosophy."  This is the relationship we wish and want to build with our customers. "Product is a key element in the overall market offering. Marketing-mix planning begins with building an offering that brings value to target customers. This offering becomes the basis upon which the company builds profitable customer relationships"(Marketing An Introduction 10th Edition p4). After the first sip, our customers will know what our product can do for them and what the value of our vodka is as both a product and experience.

Target Market Strategy

Target Market Strategizing is "the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter"(Marketing An Introduction 10th Edition p4). Because C'est La Vie Vodka appeals to the adventurous lovers of everything Paris, we've decided that our vodka would most appeal to young adult women ages 21 to 30 who dream of travel and have a sweet tooth for French pastries. They mostly likely live in suburban areas and are mostly likely still attending college if not established in their careers but don't have enough funds to travel the world specifically to Paris at a young age. We chose this market over any other market because men would not want to be seen drinking a feminine drink even if it tastes good and older women may find it childish and not to their liking. "Identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each. Instead of scattering their marketing efforts (the “shotgun” approach), firms are focusing on the buyers who have greater interest in the values they create best (the “rifle” approach)"(Marketing An Introduction 10th Edition p3). C'est La Vie Vodka as a company choses to use the rifle approach of target market strategizing simply because we know exactly who our vodka would most likely appeal to over other possible markets.

SWOT Analysis

"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives"(Marketing An Introduction 10th Edition p31). I believe C'est La Vie Vodka's strengths lie in its originality and the emotions that the vodka gives off to its target market. It may also be one of the first macaroon flavored vodkas dedicated to Paris, France. It mission also encourages its target markets to live their lives with excitement which may be what the drinker is looking for in a vodka. The casing of the vodka is unique as well as it chooses to take a different shape in bottle and design to create its appeal.  "Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance"(Marketing An Introduction 10th Edition p31). Weaknesses may include the dislike of a macaroon flavored vodka because of its distinct sweetness. A weakness may also be that it is targeted directly at the at the young adult female rather then males as well but of course their welcome to drink it as well. "Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage"(Marketing An Introduction 10th Edition). I believe that its flavor is a great opportunity to exploit because macaroons are not available everywhere in the United States but will be as a vodka flavor. Its packaging is also an opportunity to take advantage of to really set aside C'est La Vie from the rest of the vodkas out there. "And threats are unfavorable external factors or trends that may present challenges to performance"(Marketing An Introduction 10th Edition p31). Threats to C'est La Vie may  include competitors with similar pastry flavors and design concepts. Along with other French branded vodkas."It should analyze company strengths and weaknesses as well as current and possible marketing actions to determine which opportunities it can best pursue. The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats"(Marketing An Introduction 10th Edition p32). This SWOT analysis will help C'est La Vie Vodka to reach its business and marketing goals while being aware of the weaknesses and threats that can be improved.

Marketing Objectives

"This broad mission leads to a hierarchy of objectives, including business objectives and marketing objectives"(Marketing An Introduction 10th Edition p9).Business objectives for C'est La Vie Vodka include making the brand a well recognized vodka amongst competitors and a significant amount of profit for each bottle not only for the company, but for the consumer as well. Business goals also include expansion to other countries for everyone to experience our vodka. Marketing objective "is to build profitable customer relationships by developing efficient yet beautiful products"(Marketing An Introduction 10th Edition p9). The company will ensure a beautiful product by being completely unique when it comes to marketing and promotion methods. The design concept allows the vodka to be different from its competitors by using a different shaped bottle unlike the usual vodka bottle. The bottle will appeal to its target market which consists of females ages 21 to 30 so much they may even want to keep the bottles as a collection. 

Business Mission Statement

"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace. Too often, mission statements are written for public relations purposes and lack specific, workable guidelines"(Marketing An Introduction 10th Edition p6). Ever feel like escaping to Paris for the night? C'est La Vie Vodka can take you there with its sweet taste of macaroons you'll definitely be having desert before and after dinner. Our focus is to ensure that our drinkers experience the rush of adventure and the sweetness of living life to the fullest. When drinking our vodka, the saying C'est La Vie will become your personal philosophy. You'll enjoy its sweet taste so much no other vodka or dessert can compare. "A company’s mission should not be stated as making more sales or profits—profits are only a reward for creating value for customers. Instead, the mission should focus on customers and the customer experience the company seeks to create"(Marketing An Introduction 10th Edition p6). This is the experience we wish to fill every bottle with, each sip ensures an exciting adventure you'll never forget. Drinking our vodka is like laying your eyes for the first time on the Eiffel Tower, its breath taking and sweet for the soul. Such is Life.

Wednesday, November 16, 2011

Week 7 EOC: The Pitch

C'est La Vie vodka meaning "such is life" is a 750ml bottle full of adventure and risk taking. Originating from France and all it's wonders. With a bottle designed after the Eiffel Tower itself, it entices one to go on an adventure and have the time of your life after one sip. It's the type of vodka that is smooth and sweet to the taste flavored after their famous french macaroons.