Showing posts with label Marketing Plan. Show all posts
Showing posts with label Marketing Plan. Show all posts
Wednesday, March 24, 2010
Wednesday, March 17, 2010
Implementation Evaluation and Control
" 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."(MKTG Lamb Hair McDaniel, pg. 26)
The "Dark Fog" company will be implenmenting our marketing plan from a top down approach. Management at top will ensure that goals and procedures are being met. From there they will assign different duties to the people under them to help implement these plans.
After the plan has been implemented we will be evaluating it . "Evaluation entails gauging the extent to which marketing objectives have been achieved during the specifed time period." ( MKTG Lamb Hair McDaniel, pg.26) We will be controlling this with our marketing audit, " through a systematic, periodic, evaluation of the objectives, strategies, structure, and performance of the marketing organization. " ( MKTG Lamb Hair McDaniel, pg.27). This audit will help managent to find problems in the plan and be able to revise them as soon as possible.
The "Dark Fog" company will be implenmenting our marketing plan from a top down approach. Management at top will ensure that goals and procedures are being met. From there they will assign different duties to the people under them to help implement these plans.
After the plan has been implemented we will be evaluating it . "Evaluation entails gauging the extent to which marketing objectives have been achieved during the specifed time period." ( MKTG Lamb Hair McDaniel, pg.26) We will be controlling this with our marketing audit, " through a systematic, periodic, evaluation of the objectives, strategies, structure, and performance of the marketing organization. " ( MKTG Lamb Hair McDaniel, pg.27). This audit will help managent to find problems in the plan and be able to revise them as soon as possible.
Friday, March 12, 2010
Marketing Mix
Product, Price, Place, Promotion:
"Products can be classified as either business( industrial) or consumer products, depending on the buyer's intentions", (MKTG Lamb Hair McDaniel Pg. 131)
Dark fog offers men a distinctive product that is blast of fragrance that comes in a rain drop shaped bottle. With our cologne men will smell fresh all day, and leave the others around them wanting more. Our brand image is high-end dark edgy style. The packaging will be just as gloomy as the foggy bottle. It will be in a small oval box that fits perfectly around the rain drop bottle. The front of the box with have a foggy piece of plastic that hints at the fragrance bottle inside. On the front of the plastic near the bottom will read our "Dark Fog" logo. The color of the hard cardboard box is dark grey. Our warranty states that if you are unhappy with your purchase of your fragrance you are able to return within one month. If the bottle or packaging is damaged you will be able to recieve the full price back on the purchase. We have a customer satisfaction gurantee. The benefit of wearing our cologne instead of other similar high end colognes is the exclusivity with our product. " A benefit is what consumers will receive or acheive by using the product."( MKTG, Lamb Hair Mcdaniel, pg. 230)
You will only be able to find our cologne at Neiman Marcus. Neiman Marcus is described as a high-end chain store. " Chain stores are owned and operated as a group by a single organization."(MKTG Lamb Hair Mcdaniel, pg. 194) No other high-end department stores will carry our product. A 4.2 Oz bottle of “Dark Fog” will sell for $79. " Price is that which is given up in an exchange to aquire a good or service."( MKTG, Lamb Hair Mcdaniel, Pg. 2161)
" First, in order to price a service, it is important to define the unit of service consumption."(MKTG, Lamb Hair Mcdaniel, pg. 165) My distribution will be very simple. My products will be shipped by truck and delivered to Neiman Marcus distribution centers across America.
" The final stage in the new-product development process is commercialization, the decision to market a product"(MKTG Lamb Hair Mcdaniel Pg. 151)I will be promoting my fragrance mostly through print ads that will be placed in certain high-end fashion magazines including Lucky,Vogue, and Instyle. These ads will strengthen the brand image by being dark and grunge looking." Advertising is any form of impersonal paid communication in which the sponsor or company is identified".( MKTG, Lanb Hair Mcdaniel, pg. 212)
"Products can be classified as either business( industrial) or consumer products, depending on the buyer's intentions", (MKTG Lamb Hair McDaniel Pg. 131)
Dark fog offers men a distinctive product that is blast of fragrance that comes in a rain drop shaped bottle. With our cologne men will smell fresh all day, and leave the others around them wanting more. Our brand image is high-end dark edgy style. The packaging will be just as gloomy as the foggy bottle. It will be in a small oval box that fits perfectly around the rain drop bottle. The front of the box with have a foggy piece of plastic that hints at the fragrance bottle inside. On the front of the plastic near the bottom will read our "Dark Fog" logo. The color of the hard cardboard box is dark grey. Our warranty states that if you are unhappy with your purchase of your fragrance you are able to return within one month. If the bottle or packaging is damaged you will be able to recieve the full price back on the purchase. We have a customer satisfaction gurantee. The benefit of wearing our cologne instead of other similar high end colognes is the exclusivity with our product. " A benefit is what consumers will receive or acheive by using the product."( MKTG, Lamb Hair Mcdaniel, pg. 230)
You will only be able to find our cologne at Neiman Marcus. Neiman Marcus is described as a high-end chain store. " Chain stores are owned and operated as a group by a single organization."(MKTG Lamb Hair Mcdaniel, pg. 194) No other high-end department stores will carry our product. A 4.2 Oz bottle of “Dark Fog” will sell for $79. " Price is that which is given up in an exchange to aquire a good or service."( MKTG, Lamb Hair Mcdaniel, Pg. 2161)
" First, in order to price a service, it is important to define the unit of service consumption."(MKTG, Lamb Hair Mcdaniel, pg. 165) My distribution will be very simple. My products will be shipped by truck and delivered to Neiman Marcus distribution centers across America.
" The final stage in the new-product development process is commercialization, the decision to market a product"(MKTG Lamb Hair Mcdaniel Pg. 151)I will be promoting my fragrance mostly through print ads that will be placed in certain high-end fashion magazines including Lucky,Vogue, and Instyle. These ads will strengthen the brand image by being dark and grunge looking." Advertising is any form of impersonal paid communication in which the sponsor or company is identified".( MKTG, Lanb Hair Mcdaniel, pg. 212)
Target Market Strategy
My target market is men between the ages of 25-35 with a household Income of 100k or people that aspire to make that. "Marketers of products such as clothing , cosmetics, personal-care items, magazines, jewelry, and footwear commonly still segment markets by gender", (MKTG Lamb Hair McDaniel, Pg. 100) These men will be single, and usually shop at stores like Saks, Diesel, Zara, Burberry, Whole foods, and Gold’s Gym. These men are not price conscious. My target market is also a very product loyal group. Once they find a product they love they continue to purchase that exact same product. So I will be considering loyalty marketing programs. " Loyal Marketing programs , or frequent buyer programs, reward loyal consumers for making multiple purchases". (MKTG, Lamb Hair Mcdaniel, pg. 247)This is good for me because once my customers fall in love with my product they will keep on purchasing it, and become dedicated loyal shoppers of "Dark Fog." Since my product is sold in Neiman Marcus's in the United States to pin point a specific ethnicty that will be targeted is very hard. I have no certain culture that I am trying to segment for my market stategy. I am just targeting young, male professionals ages 25-35, that have a successful career. I got my information from primary data which is " information that is collected for the first time; are used for solving the particular problem under investigation", ( MKTG Lamb Hair McDaniel pg. 116)
SWOT Analysis
Strengths- "Dark Fog" likes to focus on its strengths. One of our greatest strengths is that we offer an all organic product, from the ingredients in the fragrance, all the way down to our packaging. This is a strength because our major competitors do not offer anything like this! The customer out there that is looking for a great smelling cologne, and also wants to be environmentally friendly in the process will be amazed by our product. Another one of our strengths is our exculsivity. Our fragrance will only be able to be found at Neiman Marcus, or online at darkfog.com. " The most restictive form of market coverage is exclusive distrubution, which entails only one or a few dealers within a given area." (MKTG, Lamb Hair Mcdaniel, pg. 181) I would like to form a strategic alliance with Neiman Marcus. " A stategic alliance, sometimes called a stategic partnership is a cooperative agreement between business firms." (MKTG, Lamb Hair Mcdaniel, pg. 86.) Another strength for "dark fog" is our original scent. No one in market is currently selling a colgne that smells like fresh rain.
Weaknesses: One weakness that "Dark Fog" has is the newness of the product to the market. We have to work really hard to get out product our there, and create a sense of need for our product within our target market. When I survyed 10 people that were in my target market 9 out of ten said they would be really intrigued to try such a unique product because they loved the smell of fresh rainThis will be a weakness for a few years until we have established ourselves in the market as a top contender.
Oppurtunities: Our biggest oppurtunity is our "green product". Because none of our competitors our offering similar products we can take this a huge marketing objective and capatalize on the oppurtunity.
Threats: Our three top competiors Armani, YSL, and Diesel will always be a threat to our company. Since they are already well-known brands in the market it would be easy for them to come out with something similar to that of rain smelling cologne and take us out of the competition. We do not plan on this happening since we are going to have an agressive advertsing plan to gain loyal customers, and enhance brand recognition. Another threat on us is that our competitors have a global vision. " U.S managers must develop a global vision not only to recognize and react to international marketing oppurtunities but also to remain competitive at home." ( MKTG, Lamb Hair McDaniel, pg.47)There products can be purchased in different countries at brick and mortar locations. The only way that someone from out of the country could purchase is our product is off line. Until we have proven ourselves in the market our product will not be offered overseas.
Weaknesses: One weakness that "Dark Fog" has is the newness of the product to the market. We have to work really hard to get out product our there, and create a sense of need for our product within our target market. When I survyed 10 people that were in my target market 9 out of ten said they would be really intrigued to try such a unique product because they loved the smell of fresh rainThis will be a weakness for a few years until we have established ourselves in the market as a top contender.
Oppurtunities: Our biggest oppurtunity is our "green product". Because none of our competitors our offering similar products we can take this a huge marketing objective and capatalize on the oppurtunity.
Threats: Our three top competiors Armani, YSL, and Diesel will always be a threat to our company. Since they are already well-known brands in the market it would be easy for them to come out with something similar to that of rain smelling cologne and take us out of the competition. We do not plan on this happening since we are going to have an agressive advertsing plan to gain loyal customers, and enhance brand recognition. Another threat on us is that our competitors have a global vision. " U.S managers must develop a global vision not only to recognize and react to international marketing oppurtunities but also to remain competitive at home." ( MKTG, Lamb Hair McDaniel, pg.47)There products can be purchased in different countries at brick and mortar locations. The only way that someone from out of the country could purchase is our product is off line. Until we have proven ourselves in the market our product will not be offered overseas.
Thursday, March 11, 2010
Business Marketing Objectives
Some of " Dark Fogs" marketing objectives are to:
- Be recognized more as a top compeitor through increased sales and awarness of our product
- Gain more market share within our target market compared to our competitors
- Have successful advertsing campaigns measured by increases in sales
- Start forming a sense of brand recognition with our customers
- Begin to create long-term relationships with our clients through great customer service, which can be measured by client data books
- Offer our customers a delightful quality insured product
- Double sales of cologne in the second year
-Be known as a company that has great ethics. " Ethics refers to the moral principle or value that generally govern the conduct of an individual or a group." ( MKTG, Lamb Hair McDaniel, pg, 30)
- Be recognized more as a top compeitor through increased sales and awarness of our product
- Gain more market share within our target market compared to our competitors
- Have successful advertsing campaigns measured by increases in sales
- Start forming a sense of brand recognition with our customers
- Begin to create long-term relationships with our clients through great customer service, which can be measured by client data books
- Offer our customers a delightful quality insured product
- Double sales of cologne in the second year
-Be known as a company that has great ethics. " Ethics refers to the moral principle or value that generally govern the conduct of an individual or a group." ( MKTG, Lamb Hair McDaniel, pg, 30)
Business Mission Statement
“Dark Fog” is a men’s cologne that offers a unique bold scent. The scent smells just like you would imagine fresh rain on a foggy day in London. It will be a unique blend of an earthy smell, and spice.
My target market is men between the ages of 25-35 with a household Income of 100k or people that aspire to make that. These men will be single, and usually shop at stores like Saks, Diesel, Zara, Burberry, Whole foods, and Gold’s Gym. These men are not price conscious. " A social class is a group of people who are considered nearly equal in status or community esteem, who regularly socailize among themselves both formally and informally, and who share behavioral norms." (MKTG,Lamb Hair McDaniel, pg.71)I want to be a wholesaler and sale my cologne exclusively at Neiman Marcus. We will put together some sort of price fixing. " Price fixing is an agreement between two or more firms on the price they will charge for a porduct." (MKTG, Lamb Hair Mcdaniel, pg. 280)My fragrance is high-end and will cost $79. I want the bottle of this fragrance to be very unique. I want the glass of the bottle to look frosted creating a “foggy” look. I want the shape of the bottle to imitate the shape of a rain drop, but not as symmetrical. I want the rain drop to be bigger on one side than the other.
The most important thing to my fragrance is our customers. " Customer value is the relationship between benefits and the sacrafice necessary to obtain those benefits."( MKTG, Lamb Hair McDaniel, pg.6) We want our customers to be ultimately satisfied with our product and coming back for more.
My target market is men between the ages of 25-35 with a household Income of 100k or people that aspire to make that. These men will be single, and usually shop at stores like Saks, Diesel, Zara, Burberry, Whole foods, and Gold’s Gym. These men are not price conscious. " A social class is a group of people who are considered nearly equal in status or community esteem, who regularly socailize among themselves both formally and informally, and who share behavioral norms." (MKTG,Lamb Hair McDaniel, pg.71)I want to be a wholesaler and sale my cologne exclusively at Neiman Marcus. We will put together some sort of price fixing. " Price fixing is an agreement between two or more firms on the price they will charge for a porduct." (MKTG, Lamb Hair Mcdaniel, pg. 280)My fragrance is high-end and will cost $79. I want the bottle of this fragrance to be very unique. I want the glass of the bottle to look frosted creating a “foggy” look. I want the shape of the bottle to imitate the shape of a rain drop, but not as symmetrical. I want the rain drop to be bigger on one side than the other.
The most important thing to my fragrance is our customers. " Customer value is the relationship between benefits and the sacrafice necessary to obtain those benefits."( MKTG, Lamb Hair McDaniel, pg.6) We want our customers to be ultimately satisfied with our product and coming back for more.
Thursday, February 25, 2010
EOC Week 7- Business Pitch
As he walks down the streets of London the women stare. What is it about this mysterious man that attracts the world to him? Is it his tall slender stature, or maybe his wild blonde hair style? There has to be something else that is attracting them to this startling young man. He walks by a group of twenty something’s, and they all catch a hint of his cologne. They are so startled they stop dead in their tracks and take a deep breath, taking in the remarkable scent that has just crossed them. Now they all want to know who this man is, and what did he happen to be wearing that drove their senses wild.
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