Week 10 EOC: What are the Benefits vs. Features?

“A common mistake made by many inexperienced copywriters is to focus too much on a product’s features and not enough on the benefits it provides. While features are important and should be mentioned, if you want consumers to take out their wallets and hand over their hard-earned money you need to convince them of the benefits your product offers.” http://www.themarketersmind.com/copywriting/the-difference-between-features-and-benefits/ Why would someone like you, or anybody else for that matter purchase a product? It’s all in the benefits; what the product can offer you. We aren’t talking about just plain aspects, such as calorie count or a trans-fat free logo slapped on the packaging these are what are known as product features. So what is the difference anyway; aren’t product features the reason behind purchases? Wrong. Here is where both benefits and features come into play. For instance, people whom consume low calorie beer do not drink because they are on a diet it is because with a lower calorie beer comes less alcohol, and with less alcohol you can drink more. Having said that I can now take my product Crumples; here at Phileas Fogg Snacks we take pride in what each bite has to offer, that being unique characteristics packed into each snack variation. After all nobody wants to be weighed down with a heavy and filling snack while enjoying a night with friends, this is why we offer a light yet flavorful snack to accompany the social drinking experience.

Week 9 EOC: Three Great Mission Statements

All three of these mission statements, sampled from my fellow classmates in my opinion very well represent what a mission statement should be. That being why their company is there, what their purpose is, whom they intend to serve, and how they intend to do it. Each offers its own unique take on these aspects but answers my basic questions as a potential customer nonetheless. For instance, it is rather clear that I an adult consumer are their main target market and that each variety of snack food is intended to take my taste buds on a journey around the world with Phileas Fogg himself.

Phileas Fogg has returned to capture YOU, the customer’s taste-buds.  That is our business – one handful of mouthwatering tidbits at a time. Enjoy your moment of luxury as it expands throughout the land for a blast of native and/or foreign zests. http://salohnesphoto.blogspot.com/2012/11/business-mission-statement.html

Our mission statement “A statement of the organization’s purpose—what it wants to accomplish in the larger environment” (Armstong & Kotler, Pg.39). is to offer the best snacking experience with our Phineas Fogg Brand Chili Crisps to accompany your favorite spirit! Our Chili Crisps will excite you with their rich and exotic flavors from around the world. These flavors of Thailand use the spicy and savory chili’s to awaken your taste buds.  The crunchy and delicious Chili Crisps will take you to on your own personal trip with every bite and entice the inner adventurer in you! http://reginasollecchio.blogspot.com/2012/11/business-mission-statement.html

Phileas Fogg's Husky Smoked Salmon Chip isn't just another snack: it's mission is to make people smile around the world  by selling the best quality snacks with passion, excellence, and innovation. "When you are looking for a pick-me-up snack, you will find your Super-Hero within, packed with Power in every bite." We use the number one fresh Idaho potatoes, pink salmon  and Himalayan pink salt (Himalayan Salt:Gluten-Free, Non-GMO, Kosher, Certified Organic). This chip is shaped like a Salmon and packaged in a resealable bag.

http://sewb4us.blogspot.com/

Week 8 EOC: Creative Content

Every product needs design elements; these elements include logos, packaging, advertisements, slogans, and even product appearance. For my Phileas Fogg product I intend on completing and designing the majority of these if not all of these categories. First and fore most is the logo, this is what people accompany the product with the brand name while also giving them something memorable about it. I personally am aiming for something simple and sleek, more modernistic to draw in the eye yet not distract my consumers from the product itself; while simultaneously leaving the logo versatile as in leaving room for product expansion and variations. Packaging is just as important as the logo. The container I plan to place my product in is an aspect that also identifies the product i.e. everybody knows that Pringles are packaged in a tube rather than a bag. As far as advertisements mine are simply going to supplement what I will create in the logo and packaging. It must compliment the essence that is captured there. For instance I am not going to have flowers and butterflies on a product meant to be a snack in bars that just won’t work. Lastly is product appearance, this is key to product recognition as well, the way you can tell the difference between Ruffles and Lays aside from packaging and logos is their appearance is unique and distinct. I believe this aspect of my creative content will be slightly simpler than the rest due to the fact that I am marketing cheese crisps. That in itself is unique in appearance as the crisps are porous in texture and maintain the shape of a typical potato chip. All in all every visual aspect needs to describe my product in one way or another. 

Implementaion, Evaluation, Control

“Planning good strategies is only a start toward successful marketing. A brilliant marketing strategy counts for little if the company fails to implement it properly. Marketing implementation is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives.” (page 57) In order for any company to kick off they first need goals but with those goals needs to come the action. Obviously you can sit around and talk about things to do and look at the foundation on which you want to build but without the action you aren’t going to be successful let alone go anywhere. That being said Crumples is still in the planning process but the implementation of our objectives will be carried out far past our debut. Evaluation is also very important. Many companies fail to evaluate their sales promotion programs, and others evaluate them only superficially. Yet marketers should work to measure the returns on their sales promotion investments, just as they should seek to assess the returns on other marketing activities. (page 438) After implementation had taken place there needs to be an upkeep if you will in order to keep seeing successful results in the market management must control their market so adjustments can be made to company objectives and goals.

Marketing control is the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved. (page 58)

Price

“Pricing may play an important role in helping to accomplish company objectives at many levels. A firm can set prices to attract new customers or to profitably retain existing ones. It can set prices low to prevent competition from entering the market or set prices at competitors’ levels to stabilize the market.”(Marketing: An Introduction for Education Management Corporation, Pg. 281) Seeing as how Crumples will be sold in multiple size packages pricing will differ for each quantity. Competitors offer a large bag of chips for approximately $3.99 and single serve bags for $1.50. Taking these prices into consideration Crumples will be competitively priced selling large 13 oz. bags for $2.50 and single serve bags for 0.99¢.

Distribution

Two types of distribution exist within the marketing realm, intensive distribution which is “stocking the product in as many outlets as possible.” (page G110) And exclusive distribution; “Giving a limited number of dealers the exclusive right to distribute the company’s products in their territories.” (page G110) If used in the correct manner both can be incredibly affective. Which method the company chooses to use however makes a statement about their product. For example some products are more difficult to come by because they are only sold in certain stores or only in the company brand’s store like Gucci, this method of distribution states that the product is exclusive and gives it a sense of luxury. For the Crumples product intensive distribution I believe will be most effective as it lets the product be readily available to a larger market.

Promotion

Promotion means activities that communicate the merits of the product and persuade target customers to buy it. (page 54) Basically anything to get the product out there, via commercials, online advertisements, physical advertisements such as billboards or magazines etcetera; they want their product to be known. However the choice of where to market and how to market said product is carefully chosen based on the target market and SWOT analysis. Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion). The firm must blend all of these marketing mix tools into a comprehensive integrated marketing program that communicates and delivers the intended value to chosen customers. (page 13) Crumples for instance may advertise in sports magazines or place commercials on networks like ESPN or during televised events that the target market would be attracted to.

Product

 “The major marketing mix tools are classified into four broad groups, called the four Ps of marketing: product, price, place, and promotion. To deliver on its value proposition, the firm must first create a need-satisfying market offering (product)” (page 13) Laid out plain and simple Crumples are made up of nothing more than feta cheese fried to a crisp in sesame oil then sprinkled with sea salt and oregano; nothing to special but it is much more than what we just see on the surface. Our product offers a unique experience that takes the consumer around the world not only with an intriguing story on how the delectable treat came about, but also based on the adventures of Phileas Fogg. Truly a unique experience to assist in our customers’ story telling adventures during those long nights at the bar.

Target Market Strategy

It is nearly impossible to create a product that appeals to all facets of consumers. This comes from different wants, needs, and demands from different groups and markets within our economy. After careful consideration of a product’s market and both company and product evaluation, management must develop a marketing strategy. “The company’s marketing strategy outlines which customers the company will serve and how it will create value for these customers. Next, the marketer develops an integrated marketing program that will actually deliver the intended value to target customers. The marketing program builds customer relationships by transforming the marketing strategy into action. It consists of the firm’s marketing mix, the set of marketing tools the firm uses to implement its marketing strategy.” (page 13) These actions are witnessed with our product at hand, Crumples, targeted specifically to adults whom desire to accompany their social drinking experience with a snack to munch on. In other words, our snacks belong in the bar right along side a nice tall glass of beer. And although we intend to target this particular audience, our snacks are not limited to just this specific group. The target market is reached through a company’s marketing mix, our detailed plan of how to market to the desired group. “The set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market.” (page 53)

Situation or SWOT Analysis

Every company should perform a Situation or SWOT Analysis in which managment, "evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T). Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Evaluation of each product’s market and internal evaluation is crucial to and form of success or failure. These evaluations of productivity, market readiness, possible opportunities for the business are what guides the outcome of revenue.

Strengths ·      Original product ·      Customer service oriented goals ·      Revamp of company core values and goals ·      Good company reputation ·      Steady target market	Weaknesses ·      Little to no revenue in product takeoff ·      Market research data may be out of date ·      Cost consideration/ manufacturing
Opportunities ·      Similar products do not offer or focus on consumer experience ·      Seasonal product premier ·      Anticipated customer demand ·      Past loyal customers of Phileas Fogg Snacks	Threats ·      Competitor products ·      Pricing of similar products ·      Recession caused lack of sales

Objectives

“At the corporate level, the company starts the strategic planning process by defining its overall purpose and mission. This mission is then turned into detailed supporting objectives that guide the whole company.” (Marketing: An Introduction for Education Management Corporation, Pg. 39) In regards to my product, Crumples our mission is provide quality service and an exceptional snacking experience furthermore we wish our product to have a wide range of appeal. This can be achieved by first and foremost creating a competitively priced product at a high quality.  Furthermore we wish to achieve the highest level of customer service by having minimal amount and frequency of customer complaints.

Business Mission Statement

Here at Phileas Fogg Snacks our mission is to continue providing a unique snacking experience with wholesome ingredients in convenience foods to the world’s premier consumer - equipping our customers with the food that creates an invigorating experience bite for bite. "A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization".

Marketing pg, 39

Week 8 BOC: The Adventure

My dearest Aunt Agatha, 

Upon my arrival in Cyprus, I happen to stumble upon quite faint young woman at the pub, whom I have to say, caught my eye. We spent many hours conversing with the locals there. But little did I know who this mysterious beauty truly was; I was played! A distraction used to defer the men whom she had stolen precious treasures from. They barged into the bar interrupting our conversation, rather rudely I might add, with their grizzly manner it was apparent that these were manly men. Despite the efforts of my young acquaintance to go incognito they spotted her amongst the crowd. Her face deranged with fear she led us out the back door. “No time to explain,” She shouted, “we must go!” We flocked through surrounding fields like wild geese until we found safety in a nearby cheese factory. However they were not far behind, prepared to regain their goods the men were armed with loaded muskets and ready to fire. There we were crouched behind a barrel of feta cheese when the largest of them all pulled the trigger. Luckily he had not the best of aim. The bullet spiraled through the air colliding with a nearby bucket of sesame oil and simultaneously knocking over a candle.  Fire spread, livestock broke free from their pens, and the place went up in flames. Running for my life I tumbled to the ground, turning back to see nothing but a burning pile of rubbish. And there she was in the distance running away, I did not and shall never know her name. My gaze was broke by what seemed to be snowflakes. But to my surprise it was, the cheese; it had been toasted to crisp within the explosion, creating this delightful snack I’ve sent you. Are they not simply sheer perfection?

 With great regards,

            Phileas Fogg