EOC: Week 10 What are the benefits vs. features

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A feature is a factual statement about the product or service being promoted. But features aren't what entice customers to buy. That's where benefits come in. A benefit answers the question "What's in it for me?" meaning the feature provides the customer with something of value to them. So an example for a feature would be our wasabi sweet potatoes are made with Japanese sweet potatoes and we use biodegradable packaging.  “Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences produced by these products. These sellers suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs”. (Kotler 7) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition. An example of the benefits for our wasabi sweet potatoes, from a business stand point like the bars, nightclubs and pubs our snack is a salty snack and this will make people even thirstier so in turn they will buy more drinks. Now for the consumer we’re giving them an extraordinary and sensational experience. We’re taking their taste buds on an international voyage to places that they may have wanted to go to but just haven’t had the time or money but for the low cost of $1.99 you can have this wonderful adventure anytime that you felt like it.  

Week 9 EOC: Three great mission statements

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For my three great mission statements I chose http://marisolperezmarketing.blogspot.com/ simply because she gives a very straightforward statement about what it is that she wishes to do with her snack. She talks about the company Phileas Fogg and what he did on his journey. Then she goes on to talk about what she intends for the adults to do with her snack she lets you know what her snack is and the flavor. I think she nailed this quote “Mission statement A statement of the organization’s purpose—what it wants to accomplish in the larger environment. (Kotler 39) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.” My next choice is http://xandriamariefashion.blogspot.com/  She makes you feel you will be apart of the team if you were to buy some of her snacks like you actually went on an adventure with Phineas Fogg and I think that’s a good thing to have in your mission statement because if you feel like you belong to that team that went out and search for that snack it’s more than a snake to you. That way you’re more likely to buy it you even go out of you way just to get it. My last choice is http://upperechelonhomme.blogspot.com/ Not only does he do what my first two choices did but he added in the safety of the customers, injury free and healthy workplace. I think you can’t go wrong when you do something like that. Future employees might see this mission statement and think to themselves I could see myself working for a company like this one. I think his mission statement does more that tell the organization’s purpose it also inspires people to want to work for a company that is very righteous.  

Objectives

“Once the unit’s objectives are set, marketing’s task is to help carry them out profitably”. (Kotler 47) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition. Our objective at Phileas Fogg's is to let people experience the miraculous expedition that Phileas went on, deliver a great product that is price efficient and we want to be able to build a profitable customer relationship “An effective marketing program blends all of the marketing mix elements into an integrated marketing program designed to achieve the company’s marketing objectives by delivering value to consumers”. (Kotler 54) Kotler, Gary Armstrong and Philip. “The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities”. (Kotler 55) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.

Situation or SWOT Analysis

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“The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities”. (Kotler 55) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.

Strengths:

·      It’s a higher quality chip because you can only get the sweet potato from Japan.

·      We use biodegradable packaging.

Weaknesses:

·      You can only get the sweet potato from Japan.

·      They have a unique taste and it can be a turn off for some.

Opportunities:

·      Getting our product in bar, pubs and nightclubs all around the world.

·      Our snacks cater to alcoholic beverages.

Threats:

·      You can only get the sweet potato from Japan.

·      Advertising and marketing costs.

“The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)" (Kotler 54) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.

Target Market Strategy

“The company must first decide who it will serve. It does this by dividing the market into segments of customers (market segmentation) and selecting which segments it will go after (target marketing)”. (Kotler 9) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition. The demographic that this product is aimed towards is adults, ones that like to drink, party, and eat snacks. I think the best way to serve our targeted customers we’ll have to have our snacks at the ready and low costs.  “The second marketing strategy question is “How can we best serve targeted customers?” (differentiation and positioning)”. (Kotler 30) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.

Product

“Product means the goods-and-services combination the company offers to the target market”. (Kotler 53) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition. Our target market, are adults who like to eat a snack with their alcoholic beverage in bars, nightclubs and pubs. So by providing them with a delicious snack we not only hit our target market but we also help the establishment that we have our product in because the more the consumer eats our product the more alcohol they will order in turn means more money for both businesses. “Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a product, service, idea, or other object”. (Kotler 8) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.

Promotion

 “Push strategy A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members who in turn promote it to final consumers”. (Kotler 384) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition. So we will do all kinds of personal selling, trading and promotion to the retailers and wholesalers then they will do advertising, sales promotions to the consumers and the consumers will use the “Pull strategy A promotion strategy that calls for spending a lot on advertising and consumer promotion to induce final consumers to buy the product, creating a demand vacuum that “pulls” the product through the channel”. (Kotler 384) Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, 10th Edition.