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.
Thursday, September 15, 2016
Thursday, September 8, 2016
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.
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.
Thursday, September 1, 2016
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.
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