EOC Week 10: What are the Benefits v.s. The Features

In regards to chocolate, well, what is there to say? It's just chocolate. there isn't much you can do to change it. What you can do, however, is change the lifestyle that revolves around it. They key is to find a problem and solve it...just with chocolate. For my product, Instant Moo, It serves the simple purpose of giving kids a chocolaty fix on the go. However, it is more then that. It's key feature is that it doesn't spoil, and it is pack with nutrients. This gives my company a distinct competitive advantage. The feature of my product is the fact that it is simple to use and make, even a child could do it. 

Week 9 EOC:Social Media

EOC how will you use social media to promote product, 3 quotes

In today's modern world everyone uses social media to not only communicate with the world, but also to learn about new and unique products that they normally would have no idea about. Social media is beginning to be for business owners, as the book states "the widespread use of social media have accelerated the shift in power from manufacturers and retailers to consumers and business users"(MKTG 9th edition pg 6) Therefore, as a businesses owner I plan to have visual ads that will promote my product, and hopefully capture the interest of my target market. Secondly, I plan use social media to offer special offers to my followers. For example I will give out random discount codes and special coupons that is exclusive to social media followers. Finally I will use social media to post surveys to see exactly what my customers want, like new flavors, or a different packaging.

EOC Week 8:Creative Content

In order to market my product Instant Moo my marketing will be visual ads marketed towards children around the age of 5-12 years old. The visual ads are aimed towards them because if kids desire a product, they will more often then not make their parents buy it. However, my marketing will not ignore the parents. It will be aimed towards them in regard of their children's health. My product will be packed with nutrients and convenience that parents want, while having the flavor that children want. My packaging will be small, and easy to carry around with bright vibrant colors that will attract the eye. This is so it is convenient for parents, while fun for children. 

• Visual ads
• Aimed towards children 5-12 years old going to a brick and mortar school
• Make kids desire the product so parents buy it
• Commercial?? (possibly if I have time)
• Package design, smaller packets, bright colors

Implementation Evaluation Control

Now that I have everything planed out, It is time to make Instant Moo happen! first things first, I will need to be able to produce the product. Simply enough, I will stat making it out of my kitchen. After that I can start to worry about where to sell it. My idea Is to both make a website where people will able to buy it across America, while also trying to get my product into a small local store. This way I can start building a small, loyal fan base that will help spread the word about my product. After a while, when sales starts to go up, I will try to get into a bigger wholesale store, like wholefoods. If I am able to get in, I will have them produced massively in a bigger factory in America so that I can better supply my buyers on a much larger scale, and also make the product cheaper to produce, making my profit margins go up.

Marketing Mix: Price

Price is an extremely tricky thing, as the book states,  "A high-quality product that is available only at a high price will not be perceived as a good value, nor will bare-bones service or low-quality goods selling for a low price."(MKTG 9th Edition, Pg 6)  This is very true. people will not buy a product, no matter how good it is, for a ridiculously high  price, nor will they buy an extremely cheap product. So you have to meet your customers somewhere in the middle, where you make profits, and they get a good deal. With my product I believe that that is in the $2.99 price range for a pack of 6. I believe this is a fair price for the value you are getting, while not being absolutely ridiculous. 

Marketing Mix: Promotion

Promotion for my product will mainly be through word of mouth and social media. Especially at the beginning I will not be able to afford to buy ads, or even commercials. So I will have to promote the product via free outlets. For example, I will have multiple social media outlets, that will hopefully be used to push my product forward.

Marketing Mix: Distribution

TBC

Marketing Mix: Product

"firms that succeed in competitive markets have a clear understanding that they must first determine what customers want and then produce it, rather than focus on what company management thinks should be produced and hope that the product is something customers want."

Target Market Strategy

"A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges."(MKTG 9th edition, pg. 48) Target markets are a crucial role to any business. by having a target market, and providing them with what they need you are able to have a competitive advantage, which is"...a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition"(MKTG 9th edition,pg 23) The target market for my particular product will be parents with small children.  My product provides kids with something they desire, along with giving them some of the vital nutrients that they need in order to grow up happy. I believe that my product is best suited for this market due to the nature of the product as well as the fact that the only people who will really need chocolate milk on a instantaneous and regular basis is parents with small children.

Business Situation or SWOT Analysis

For this next section I will make a SWOT analysis of my bushiness. What is that? Well, according to the book its a company's "internal strengths (S) and weaknesses (W) and also examine external opportunities (O) and threats (T)." To start, I will examine the company's Strengths and weaknesses. According the the book "When examining internal strengths and weaknesses, the marketing manager should focus on organizational resources such as production costs, marketing skills, financial resources, company or brand image, employee capabilities, and available technology." Strengths Instant Moo has is low production costs, and employee capabilities. The product is fairly easy to make, and doesn't require much. It's mostly just powerized milk, cocoa powder, and sugar, mixed with vitamins and minerals. After that, there isn't much needed besides mixing it together and packaging it. The weeknesses of my company mainly false on brand recognition. It's a new brand, that has major competition from brands like Nesquik. However, the company differs from them by the fact that it is mixed with water, not milk. Opportunities my company could possibly have is be implimented in either convenience store, or possilbly schools.  Threats would be from bigger company's stealing my idea, and producing it on a scale I cannot compete with. 

Buissness Objectives

Marketing and business objectives go hand in hand, this can be seen through the very definition of the marketing concept which is "the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives" (MKTG, 9th Edition, 5)  This would stand to reason that

Business Mission Statement

According to the book, my mission statement "should focus on the market or markets the organization is attempting to serve rather than on the good or service offered."(MKTG, 9th Edition, 21) and establish  "...boundaries for all subsequent decisions, objectives, and strategies."(MKTG, 9th Edition, 21).  Based off of this, My businesses mission statement is as follows. Here at Instant Moo our number one priority is your children! We understand their want, nay, need for instant chocolate gratification, why is why we provide that need at instantaneous speed. However, we also understand parents need for healthy children. This is why we also make it our duty to pack as much nutrients as a child needs into our products.  These nutrients include protein, carbohydrates, calcium, Vitamins A&C, and many more. We know your children's health and happiness is important to you, and it is important to us as well. You can trust Instant Moo to provide kids with all they need to promote a happy and healthy lifestyle!!