EOC week 9: Three Good Mission Statements

The three blogs that I picked for the best mission statements are Zach Adam, Gabriel Trueba, and Oscar Corral. These three people told you about what their product is and what is was they where going to offer the consumer. Most of the mission statements where weak and you cold not tell what it was they are trying to accomplish as company. Mission statements show what it is that a company stands for such as “We believe in using business to inspire solutions to the environmental crisis.”(Kotler, Marketing: An Introduction for Education Management Corporation, 44 ) After reading the three blogs you got a great idea for what the business is and what is it that they are trying to achieve. They told you what is was that their product is going to do for how and how it is going to do it. These are the types of things that you want to hear from a company. Talking about things such as quality and any special added things that improve the product. It shows how they as a company stand apart from the crowd. It also explains why what may seem as a simple idea is a great idea. The company as a whole can and does set them aside from the completion in the market place. When you know more about a company and what it is they stand for then you have more ties to that company. Things like this help people to become loyal consumers and have an emotional tie to a brand. These three represent that the most out of the class. They make you want to go out buy that brand and stay loyal to it as well.

EOC Week 8: Creative Content

My creative content will be a monk up of the chocolate bar it’s self. It will feature a red leather box that the chocolate will be sold in. The box will have a little door that opens with two compartments in it. The outside of the box will have some gold and the logo or 24k. When you pull out the compartment you will then see the chocolate bar. The chocolate bar will be gold and feature the same logo that is on the front of the box. The packaging will add to the luxury of the chocolate bar. Since it is packaged in such a unique way the consumer can keep the box after the chocolate is eaten. This would help to establish the brand in to the life of the consumer. The consumer could use the box as a mini jewelry box or hold keepsakes. If the consumer always sees the box it will remind them of the box and make them want to buy it again. This is a great way to make the brand about of consumer’s lifestyle and even their everyday life. Also it will help to justify a higher price point since there is some part of the bar that you keep once it is gone.

Fianl Project: Implementation Evaluation Control

Implementation evaluation control will be done to make sure that 24k reaches all of its marketing goals. It will be done after each event to see how much the marketing is doing. The marketing team will check blogs and the Internet to see how effective the marketing is. 24k will have social networks and will keep the consumers with up to date information with what is going on with the brand. Social networks will post things such as celebrity sightings with 24k and events sponsored by the brand as well.

Fianl Project: Price

The price will be set at $15 for two chocolate bars inside of their special box. Later on they will be able to purchase in a half a dozen and a dozen in a similar red box as the two are packaged. Although some may see it as high. You receive nothing but the finest chocolate that is topped with eatable gold leaf. Also the packaging is something that you can keep once you have eaten the chocolate. “To create value for customers as a means of capturing value for the firm in return.” (Marketing: An Introduction, Kotler, p. 102) So even though it is a high price point it is a real value for what it is that you are receiving.

Fianl Project: Promotion

Promotion will be done through things such as special events. This will get the product out to the mover and shakers. Also the chocolate will be given away in gift bags for award shows. Gift bags have become a huge part of award shows and get brands a lot of marketing and advertising. 24k will also run ads in luxury magazines as well. 24k will also try to get into the hands of celebrities, since they can influence a lot of people in their brand choices. “Increasing the product’s promotion may require more salespeople, advertising, and public relations efforts” (Marketing: An Introduction, Kotler, p. 42) As 2k expands as a brand so will the promotions.

Final Project: Product

“Product means the goods-and-services combination the company offers to the target market”(Marketing: An Introduction, Kotler p. 53) 24k as a product will be of the highest quality. It will only use the best products and will be packaged in such a way to show off its quality. The 24k chocolate will be made with the finest Belgium chocolate then covered in eatable gold flakes.

Fianl Project: Distribution

“Marketers should pay attention to income distribution as well as income levels. Over the past several decades, the rich have grown richer, the middle class has shrunk, and the poor have remained poor." (Marketing: An Introduction, Kotler p. 79) For the plain fact that the rich have been getting richer is why the 24k brand was created and will be sold at high-end retailers. Just like how Godiva chocolate is sold in department stores. 24k will be able to be found in retailers such as Sacks, and Neiman Marcus. It will also be featured in some restaurants and paired with fruit to make a simple yet decadent dessert. Once the brand is expanded and grows in to more products there may be plans to make a few stores. Since it will be a high-end product making it exclusive to only a few markets will add to its appeal. “Distribution of income has created a tiered market. Many companies—such as Nordstrom and Neiman Marcus department stores—aggressively target the affluent.”(Marketing: An Introduction, Kotler, p. 79) Just like Nodrstroma nd Neiman Marcus 24k will serve only the best to the best.

Final Project: Target Market Stragety

A target market “involves evaluating each market segment’s attractiveness and selecting one or more segments to enter. A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.”(Marketing: An Introduction, Kotler, p. 50) 24k’s target market will be the middle class, upper middle class, lower uppers, and the upper class in total it will appeal to 47 percent of the American social class. It will appeal to the mover and shakers of America. Our ads will be of pure opulence, and appeal to all of the luxury brand buyers. As a brand 24k is going after the people that are used to nothing but the best and are more than willing to pay for it.

Final Project: SWOT Analysis

A SWOT analysis is “An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T)” (Marketing: An Introduction, Kotler, pp. 54 - 55) A strength for 24k is that the luxury brand market is expanding in this bad economic down turn. The weakness for the brand is that just fewer than 50 percent of America will be targeted for the brand, because of the price point. Since the price will be higher than most chocolates the market will not be as big as a normal candy bar. An opportunity for 24k will be to introduce other products within the 24k brand that may not have such a high price point to help to pick up other market shares. Lastly a threat to the brand will be other high-end chocolate brands that are more established than 24k.

Final Project: Objectives

The “overall objective is to build profitable customer relationships by developing efficient yet beautiful products that embrace the “essence of gracious living.” (Marketing: An Introduction, Kotler, p. 42). This product will help the consumer to have a luxury experience wherever they may be. It will help them to escape from everyday life, and will take them away to a better place every time they indulge on it. It is not a product for everyone since it is a luxury brand. “Social scientists have identified the seven American social classes” (Marketing: An Introduction, Kotler, p. 140) 24k will appeal to middle class, upper middle class, lower uppers, and the upper class in total it will appeal to 47 percent of the American social class. These classes are keeping up trends are expect nothing, but the best which is the type of consumer we at 24k want. They are always for something better and are in search of products that will help them to do that. We will also focus on “Many small groups influence a person’s behavior. Groups that have a direct influence and to which a person belongs are called membership groups.” (Marketing: An Introduction, Kotler p. 141) these groups will be things like bloggers, foodies, and lastly celebrities. These people influence a lot of decisions that we make. Just like how the local business the Sugar Factory features a lot of celebrities at events. Something as simple as a lollipop has now gotten to be a high end must have purchase for some. This is what we will do at 24k to establish a costumer base, and following.

Final Project:Business Mission Statement

When making a business statement it is important to make sure that it is not dry and unassuming. "Some companies define their missions myopically in product or technology terms. But mission statements should be market oriented and defined in terms of satisfying basic customer needs." (Marketing: An Introduction, Kotler, 40) This is one of the moments in which a company can stand out from their completion. It is just not talking about what the company will sell or what type of customer service that they will provide. This is the point at which you describe what kind of experience the customer will have when using your product. My chocolate will provide my consumer with an over all high-end uplifting experience. They will step foot in to a luxurious soft and rich lifestyle. It will take them away from every day life and take them to one in which they have always dreamed of. Made with the best quality products it will leave them wanting more. It is not a simple chocolate bar, and is not for the simple person it is one in which it takes you away to the life of the stars. Every time you eat it you are reminded on why you made the purchase in the first place. 24k will first start off as a chocolate bar, but will evolve in to a whole line of 24k sweet treats. The whole line is pure luxury and will all feature eatable gold on top and or inside the sweats. It will become a new status symbol picture that you're doing so well that you are able to eat gold not just wear it.

Week 7 EOC: The Pitch

My product is a 24k chocolate bar. The bar is shaped a mini gold bar and wrapped in a gold foil wrapper. When you open up the chocolate bar it will have flakes of gold on top of the bar that is in the chocolate. This will be a chocolate bar like no other and will be an opulent purchase. It is a chocolate bar that is eaten on special occasions or when you need to feel like the high class people that make it a regular purchase. It will be made with the finest Belgium chocolates and topped with of course GOLD. The bar is called 24k, because 24 carat is the finest quality of gold, and the chocolate bar will be one of the finest quality chocolate bars. It is what people think that the wealthy munch on when they have a sweet tooth. We all want to be like the rich and famous, and this product will make you feel as rich the people in the ad. It will be the little indulgence to make the average man feel on top of the world. It is that pick me up when someone is down and out, and wants to feel like the carefree wealthy ideals that we have. Chocolate already takes people away and makes them feel better so making it even more indulgent will make them feel even better about the product. Since the product is so indulgent there will be few places where you could purchase it. One of the places that you could buy 24k chocolate bars at would be a high-end department store. Just like you can buy Godiva chocolate at Macy’s. It could also be severed at high-end lounges and or restaurants. This will be a product that you cannot find at every street corner. It will be limited, which will add to the luxury of the brand.

Week 6 EOC: Me x 3

One of the first products that describes me well is Louis Vuitton. It a bag that is a staple piece to my handbags. I have always been a fan of the brand it stands for luxury and quality. Also another thing that I like about it is the exclusivity of the brand not a lot of people are able to buy the product. The poshnees of the brand is something that draws me in to the brand so many try to copy them, but there is only one Louis Vuitton.

The second brand that speaks to me a lot is Cadillac. The brand is now trying to reach a younger demographic. Their newest slogan is “We don’t make luxury cars we make Cadillac’s.” I feel that it is a brand where I pay more and in return get more in return. They have even came out recently saying that they as accompany are going after German made high end luxury cars. I like the brand I get the luxury with out paying so much money in repairs as an import and it’s American made. I love the car that I drive and will buy another Cadillac the next time that I need or want a new car. Another thing that I liked is the dealership I went to unlike other ones I have been to Cadillac treated my family and I a whole different way.

The last item that describe me a lot is Apple. I love the products that they make. Everything is sleek and runs better. Every time I go to use my IPhone, MacBook, or IPod I am happy as can be. Their products are very user friendly and make you feel with the times when using them. I look at people that have a laptop that is not an Apple and think what are you dong? They are heavier do not run as quick and do not look as sleek at all. Apple give you that feel that you are apart of the hip crowd when using them, this is so much of their appeal to their customers.

Week 5 EOC: Social Networks and Job Hunting

Using social networks for finding brand ambassadors and employees is not surprising. People are on the computer more than ever. The company can see how much a person is in to their company by looking at their Facebook page. When reading about brand ambassadors it made me think about YouTube. There are a lot of women that show how to do make-up. A lot of them are given products for review by companies. You can see once they use their products how they get things shipped to them. They even mention if things where sent to them or if they bought them on their own. Facebook is also a great way to see how a person acts as well. A lot of companies look at a person’s Facebook page before hiring them so it is not a huge jump to then hire them off of Facebook they are already here. Also LinkedIn is a growing company and that many people know of them as they do of Facebook. "Consumers hear about products and brand experiences from others just like themselves—people they trust—rather than from commercial marketing sources." (Marketing An Introduction, GARY ARMSTRONG page 143). Today’s consumers want to hear what others like them prefer and not what the company wants them to hear. They feel more of an insider and have the scoop of what others are using. While Facebook’s market on using its services for finding jobs is still growing it is having steady progress. “Still, Facebook is making a dent. VMware Inc., a Palo Alto, Calif., cloud-computing company, hired its first full-time recruiter dedicated to working on social networks in November and is building a team of recruiters who will focus on social platforms.” (http://online.wsj.com/article/SB10001424053111903885604576490763256558794.html)The company is making great stride in finding new markets in which to expand on to. I mean did you ever think when you were updating your status that a company could be looking at your page to maybe hire you? I would say that this is some great food for thought so get out there and look on Facebook for jobs, think about what your posting it could even effect you getting that dream job of yours.

Week four EOC: New app

My app is going to be called the fashion show mall insider. It will be an app for the fashion show mall. This app will have things on it that will give you exclusives to the mall. They already have a rewards program, but have nothing that is an app. This will be paired with the emails that are sent out. I know that if they have an app I would check it a lot more often than I do my emails from them. People will know of promos that are going on in stores as in turn more people will visit the store and should spend more since the hardest thing to do is to get people in to the store. It will also help people getting around the mall with a built in map of the mall. Since parking can also be confusing there will be a parking helper so that you do not forget where you have parked. Fashion Show Mall is a mall that is a lot better known than most malls and they should be at the cutting edge of things and should have an app. Also the app will remind you when their famous fashion shows are taking place. The app can also show you where the looks where taken from and how much they are. It will be an added feature to the mall and make the experience of the mall a lot more inclusive. The app will be free and the stores in the mall will pay for advertising on the app. You could also charge the stores that are putting out any coupons. I do not see people paying for the app since the information that is given out is free inside of the mall. The only added information that they get is how much the clothes are being shown in the fashion show since they already tell you where the clothes are from.

Week 2 EOC: Boston Consulting Group - Video Game

Like any other industry the video game industry is starting to see changes. People are not going out to the stores unless there is something new and worth their time. “Nintendo had a glorious year for the Wii and handheld DS system in 2008, but it has seen sales decline since that peak” (http://venturebeat.com/2011/09/07/with-online-sales-growing-video-game-market-to-hit-81b-by-2016-exclusive/) While in the next coming years it is expected to see a turn around recently the economy has taken it’s toll on the industry. Companies are competing more than ever for customers. For the consumer this could be great news the games could be getting a lot better and new consoles may be on the market soon. The United States is not the only market in which the viedo game market is falling. “Japanese game industry revenue fell 8 percent in 2011, due primarily to a lack of software hits and a steady decline in a major console game sales.” (http://venturebeat.com/2012/01/05/japanese-game-industry-revenues-fall-8-percent/) Japan still does not have a good variety of games and consoles offered by all of the gamming companies. Japan is the second biggest video game market behind the United States. Antoher market that is being affect is the United Kingdom. “Add it all together and the UK video game market made £2.52 billion in 2011 - 13 per cent less than 2010.” (http://www.eurogamer.net/articles/2012-01-05-uk-boxed-video-game-market-fell-in-2011) Some professionals think the down turn is do in part of games being available on peoples pones a lot more easier than times of the past. Also people are spending less and video games are one of the things that end up being cut in home budgets. With all of this being said companies are trying a lot harder for their market share. Counsels are expected to have buddle packages in the soon future to help encourage consumers to buy them. The video game market seems to be ever changing and is not as easy as times of the past to sell expensive counsels, games and add-ons.

Week 1 EOC: Great Customer Service

The best customer service experience that I have is when I go to the Nordstrom Café. This is not surprising at all since the company prides themselves on customer service and is known for top notch employees. Every time I go there I review the best service. They always do the little things that make them stand out in my mind. The last time that i went I ordered fish but asked for none of the vegetables on the dish since I did not like the ones that came on it. The only thing was that the sauce for the fish was served with the vegetables. So I got this on the side. When I received my food I did not like it. So the waitress went to get me tartar sauce, and lemons. She also went out of her way to make a sauce that she said that she uses as well. It was ketchup, Dijon, and lemon juice. While the combination sounds odd it was very good. The fact that she went out of her to do this shows the great customer service that Nordstrom prides themselves on. Every time that i go to the Fashion Show mall I always eat their if I am hungry. My mom as well has gotten hooked on the food. They also will always give you a cup to go of your DRINK; also they are great at keeping up at refills, which most places seem to slack on. The food is priced great, taste good and the customer service is outstanding. These are the three reasons why I will continue to go to the Nordstrom Café. “The key to building lasting customer relationships is to create superior customer value and satisfaction. Satisfied customers are more likely to be loyal customers and to give the company a larger share of their business.” (Marketing: An Introduction Page 19)

Voice

As an expert in the fashion business I have always torn apart peoples outfits since the age of five. While attending a specialized high school with classes focusing on business I decided to make the switch from wanting to become a designer to go in to the business side of fashion. This changed combined what two things I like the most fashion and business. Being in fashion does not feel like work to me at all when something is a passion of yours so-called work is not work anymore. The confidence when you put on a certain outfit is the feeling that I want to give people over and over again. Clothing is one of the first things we look at and the thing that we can mold in to our own personal style. Clothing is the outward way to show people some of our personal believes. Being in the fashion world is fast paste and ever changing ans is one of the reasons why I love it the most. It is easy to change things up and to make then your own. I love finding stores and pieces that no one else has or would think to buy.