Friday, December 9, 2016

EOC: Week 10 Benefits vs the Features

"Social visibility: Involvement also increases as the social visibility of a product increases. Products often on social display include clothing (especially designer labels), jewelry, cars, and furniture. All these items make a statement about the purchaser and, therefore, carry a social risk."

“With a concentrated targeting strategy, a firm selects a market niche (one segment of a market) for targeting its marketing efforts. Because the firm is appealing to a single segment, it can concentrate on understanding the needs, motives, and satisfactions of that segment's members and on developing and maintaining a highly specialized marketing mix. Some firms find that concentrating resources and meeting the needs of a narrowly defined market segment is more profitable than spreading resources over several different segments.”

“Small firms often adopt a concentrated targeting strategy to compete effectively with much larger firms. For example, Enterprise Rent-A-Car, number one in the car rental industry, started as a small company catering to people with cars in the shop. Some other firms use a concentrated strategy to establish a strong position in a desirable market segment. Porsche, for instance, targets an upscale automobile market through “class appeal, not mass appeal.”

From a social standpoint purchasing our product adds some decadence to your nightlife experience. It also allows you to completely change your champagne sipping experience. A large majority of people add fruit (or wish they could) to their champagne to enhance the taste of the champagne. This will allow you not only to add some of the favorite fruit flavors to the taste, but also the taste of chocolate to it. Chocolate Stems feature a champagne flute top made entirely out of Belgium chocolate in regular milk chocolate, raspberry milk chocolate, strawberry milk chocolate, and orange milk chocolate flavors with a wax stem so that it doesn't melt causing you to have to worry getting chocolate on your outfit.

Friday, November 18, 2016

Implantation Evaluation Control

Chocolate Stems is hoping to branch out in the next couple of years. In the future could be distributed to other states/countries with clubs and high end bars.

Marketing Mixing: Price

This product is finely crafted and sells for  $60 plus taxes for a box of 6 glasses. You can buy them in a box mixed with three different flavors or a box of one flavor.

"For instance, if all customers are equally price conscious about a product, there is no need to offer high-, medium-, and low-priced versions to different segments."

Marketing Mix: Promotion

We are hoping to do most of our promotion through networking and word of mouth. But if that isn't enough, look for us on your local TV stations as well as billboards across the city.

Marketing Mix: Distribution

Since are corporate warehouse is located in Las Vegas we will be using individual carriers directly to customers. No big trucks will be needed since we are just a small start up company and don't have any plans to sell anywhere that would need large bulk orders.

Marketing Mix: Product

Chocolate Stems is a Las Vegas based company bringing you nothing but the best champagne flute glasses. The top of our classes are hand crafted from imported flavored Belgium chocolate, with a stem made with sturdy wax. Our glasses come in four delightful flavors including Milk Chocolate, Raspberry, Orange, and Strawberry to add an amazing taste to your champagne experience.

Marketing Strategy, Target Market Strategy

The target marketing strategy for our company are the people who want to live life to the fullest. Who enjoy spending their hard earned money on life experiences. Traveling and trying new things. Therefore we think this would be a great product for people who go to clubs and bars knowing that they will be spending money, and don't care because they want to leave with a great life experience under their belt. This is why Las Vegas is a great place to start this company. People come here for the experiences. To have a great time that they would most likely not have where they are traveling from.

"Income is a popular demographic variable for segmenting markets because income level influences consumers' wants and determines their buying power. Many markets are segmented by income, including the markets for housing, clothing, automobiles, and food. Dollar stores, traditionally targeted at lower-income consumers, surged in growth as they began to target middle-income consumers during the Great Recession"