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!!