Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
ProfitDrive review
3 years ago
Wednesday, September 24, 2008
Value Proposition
“The company must also decide how it will serve targeted customers-how it will differentiate and position itself in the marketplace. A company’s value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs. (Armstrong & Kotler – Marketing 9e Ch.1 pg.9)”
Kettle V., new vodka, new generation.
Kettle V. is a new high end vodka with a twist. Made with Kyoto green tea leaves from a prestigious tea producer in Japan with a high end Russian Vodka that has been distilled five times gives birth to a new type of vodka for the new generation. Kettle V. is a all organic vodka that has the great nutrients, ginseng for energy, and taste of green tea combine with the strong, bold, and smooth taste of Russian vodka 40% (80 proof) with a splash of honey to give it the hint of flavor. Kettle V. is here to re-invent the vodka, not to follow the others. It is sophisticated so you can have a glass at a book reading or art gallery show, but also sexy enough to drink up at a club or at a trendy restaurant. Kettle V. is the new standard for the new generation.
Kettle V., new vodka, new generation.
Kettle V. is a new high end vodka with a twist. Made with Kyoto green tea leaves from a prestigious tea producer in Japan with a high end Russian Vodka that has been distilled five times gives birth to a new type of vodka for the new generation. Kettle V. is a all organic vodka that has the great nutrients, ginseng for energy, and taste of green tea combine with the strong, bold, and smooth taste of Russian vodka 40% (80 proof) with a splash of honey to give it the hint of flavor. Kettle V. is here to re-invent the vodka, not to follow the others. It is sophisticated so you can have a glass at a book reading or art gallery show, but also sexy enough to drink up at a club or at a trendy restaurant. Kettle V. is the new standard for the new generation.
Mission Statement
“Many organizations develop formal mission statements that answer these questions. 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. (Armstrong & Kotler – Marketing 9e Ch.2 pg.37)”
Kettle V. – We are re-inventing the vodka for the sophisticated and the sexy.
Kettle V. – We are re-inventing the vodka for the sophisticated and the sexy.
Selecting Customers to Serve
“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). Some people think of marketing management as finding as many customers as possible and increasing demand. But marketing managers know that they cannot serve all customers in every way. By trying to serve all customers, they may not serve any customers well. Instead, the company wants to select only customers that it can serve well and profitably. (Armstrong & Kotler – Marketing 9e Ch.1 pg.9)”
I’ve decided to go after the young adults from ages 21-30. I aggressively going to go after the club going person who loves to party and have a good time. Las Vegas is a great place to start a Vodka company especially the target audience I am going after. I also want to target the lay back, social gathering people who attend art gallery shows and have weekly book meetings. I think my vodka can’t effectively hit both targets at the same time with compromising the image of the vodka.
I’ve decided to go after the young adults from ages 21-30. I aggressively going to go after the club going person who loves to party and have a good time. Las Vegas is a great place to start a Vodka company especially the target audience I am going after. I also want to target the lay back, social gathering people who attend art gallery shows and have weekly book meetings. I think my vodka can’t effectively hit both targets at the same time with compromising the image of the vodka.
Responding to the Marketing Environment
“Someone once observed, “There are three kinds of companies: those who make things happen, those who watch things happen, and those who wonder what’s happened.” Many companies view the marketing environment as an uncontrollable element to which they must react and adapt. They passively accept the marketing environment and do not try to change it. They analyze the environmental forces and design strategies that will help the company avoid the threats and take advantage of the opportunities the environment provides. (Armstrong & Kotler – Marketing 9e Ch.3 pg.89)”
The vodka environment is old and boring. There isn’t anything new or exciting coming out. Kettle V. is here to re-invent the vodka for the new generation. Kettle V. is here to give people something new and exciting. Kettle V. is here to make things happen.
The vodka environment is old and boring. There isn’t anything new or exciting coming out. Kettle V. is here to re-invent the vodka for the new generation. Kettle V. is here to give people something new and exciting. Kettle V. is here to make things happen.
Marketing Information & Customer Insight
“To create value for customers and to build meaningful relationships with them, marketers must first gain fresh, deep insights into what customers need or want. Companies use such customer insights to develop competitive advantage. “In today’s hypercompetitive world,” states a marketing expert, “the race for competitive advantage is really a race for customer and market insights.” Such insights come from the good marketing information. (Armstrong & Kotler – Marketing 9e Ch.4 pg.97)”
“The market researcher must now interpret the findings, draw conclusions, and report them to management. The researcher should not try to overwhelm managers with numbers and fancy statistical techniques. Rather, the researcher should present important findings and insights that are useful in the major decisions faced by management. (Armstrong & Kotler – Marketing 9e Ch.4 pg.113)”
From a non-scientific study I conducted, my overall conclusion is that people are tired of Kool-Aid flavor vodkas and want something new. People don’t mind if vodka is flavored, but they want to taste the vodka and not the fruit and sugar. Kettle V. is a green tea flavor vodka, but the green tea doesn’t over power the vodka like other companies do with their flavor vodka. Also the idea of a green tea vodka might sound unappealing, but that is what marketing is for and with my marketing plan I created, with the great taste of the green tea vodka and the design of the vodka, this should make people curiosity of what a green tea vodka might taste like. With the advantage of being the only true green tea vodka in the market, hopefully this will satisfy the people that are looking for something new in vodka.
“The market researcher must now interpret the findings, draw conclusions, and report them to management. The researcher should not try to overwhelm managers with numbers and fancy statistical techniques. Rather, the researcher should present important findings and insights that are useful in the major decisions faced by management. (Armstrong & Kotler – Marketing 9e Ch.4 pg.113)”
From a non-scientific study I conducted, my overall conclusion is that people are tired of Kool-Aid flavor vodkas and want something new. People don’t mind if vodka is flavored, but they want to taste the vodka and not the fruit and sugar. Kettle V. is a green tea flavor vodka, but the green tea doesn’t over power the vodka like other companies do with their flavor vodka. Also the idea of a green tea vodka might sound unappealing, but that is what marketing is for and with my marketing plan I created, with the great taste of the green tea vodka and the design of the vodka, this should make people curiosity of what a green tea vodka might taste like. With the advantage of being the only true green tea vodka in the market, hopefully this will satisfy the people that are looking for something new in vodka.
Lifestyle
“People coming from the same subculture, social class, and occupation may have quite different lifestyles. Lifestyles is a person’s pattern of living as expressed in his or her psychographics. It involves measuring consumers’ major AIO dimensions-activities (work, hobbies, shopping, sports, social events), interests (food, fashion, family, recreation), and opinions (about themselves, social issues, business, products). Lifestyle captures something more than the person’s social class or personality. It profiles a person’s whole pattern of acting and interacting in the world. (Armstrong & Kotler – Marketing 9e Ch.5 pg.141)”
Drinking Kettle V. should be an event. That is why we want our vodka to be served at trendy night clubs and restaurants, at art gallery shows, and elaborate book readings and gatherings, and if someone is doing a sophisticated dinner party. We want our vodka to be the drink of choice when doing an event or gathering of sophisticated and sexy people. I want Kettle V. to become someone’s lifestyle.
Drinking Kettle V. should be an event. That is why we want our vodka to be served at trendy night clubs and restaurants, at art gallery shows, and elaborate book readings and gatherings, and if someone is doing a sophisticated dinner party. We want our vodka to be the drink of choice when doing an event or gathering of sophisticated and sexy people. I want Kettle V. to become someone’s lifestyle.
The Buyer Decision Process for New Products
“We have looked at the stages buyers go through in trying to satisfy a need. Buyers may pass quickly or slowly through these stages, and some of the stages may even be reversed. Much depends on the nature of the buyer, the product, and the buying situation.
Stages in the Adoption Process
Consumers go through five stages in the process of adopting a new product:
• Awareness: The consumer becomes aware of the new product, but lacks information about it.
• Interest: The consumer seeks information about the new product.
• Evaluation: The consumer considers whether trying the new product makes sense.
• Trial: The consumer tries the new product on a small scale to improve his or her estimate of its value.
• Adoption: The consumer decides to make full and regular use of the new product.
(Armstrong & Kotler – Marketing 9e Ch.5 pg.149)”
Introducing a new product is always a huge risk, that is why if market carefully and execute the plan in precision will only increase your chances of your product staying alive to see the next quarterly income. With the plan I created, hopefully it will create the awareness, the interest, and evaluation that once Kettle V. comes out that people must have to try it. And of course of the great taste of Kettle V. and the fact that it is something new and exciting that people will hopefully decide to continue drinking Kettle V.
Stages in the Adoption Process
Consumers go through five stages in the process of adopting a new product:
• Awareness: The consumer becomes aware of the new product, but lacks information about it.
• Interest: The consumer seeks information about the new product.
• Evaluation: The consumer considers whether trying the new product makes sense.
• Trial: The consumer tries the new product on a small scale to improve his or her estimate of its value.
• Adoption: The consumer decides to make full and regular use of the new product.
(Armstrong & Kotler – Marketing 9e Ch.5 pg.149)”
Introducing a new product is always a huge risk, that is why if market carefully and execute the plan in precision will only increase your chances of your product staying alive to see the next quarterly income. With the plan I created, hopefully it will create the awareness, the interest, and evaluation that once Kettle V. comes out that people must have to try it. And of course of the great taste of Kettle V. and the fact that it is something new and exciting that people will hopefully decide to continue drinking Kettle V.
Concentrated Marketing
“Using a concentrated marketing (or niche marketing) strategy, instead of going after a small share of a large market, the firm goes after a large share of one or few smaller segments or niches. (Armstrong & Kotler – Marketing 9e Ch.6 pg.179)”
As stated before Kettle V. is going after the trend setters and leaders who go with their own flow. That is why we are targeting the sexy people who go out at night to nightclubs and trendy restaurants and also the sophisticated that do elaborate dinner parties and attend art galleries and book readings. These are the types of people we want to be drinking Kettle V.
As stated before Kettle V. is going after the trend setters and leaders who go with their own flow. That is why we are targeting the sexy people who go out at night to nightclubs and trendy restaurants and also the sophisticated that do elaborate dinner parties and attend art galleries and book readings. These are the types of people we want to be drinking Kettle V.
More for the Same
“Companies can attack a competitor’s more-for-more positioning by introducing a brand offering comparable quality but at lower price. For example, Toyota introduced its Lexus line with a “more-for-the-same” value proposition versus Mercedes and BMW. Its first ad headline read: “Perhaps the first time in history that trading in a $72,000 car for a $36,000 car could be considered trading up.” It communicated the high quality of its new Lexus through rave reviews in car magazines and through a widely distributed videotape showing side-by-side comparisons of Lexus and Mercedes automobiles. (Armstrong & Kotler – Marketing 9e Ch.6 pg.191)”
Our target audiences aren’t millionaires, but they do have money to spend, and they want to spend it on high quality items rather than the price of the item. Pretty much all vodkas are the same, the only thing that is really different is where it’s from, how many times has it been distilled, and the packaging. Kettle V. is a high end product for a reasonable price at $35.99 for a 70cl bottle.
Our target audiences aren’t millionaires, but they do have money to spend, and they want to spend it on high quality items rather than the price of the item. Pretty much all vodkas are the same, the only thing that is really different is where it’s from, how many times has it been distilled, and the packaging. Kettle V. is a high end product for a reasonable price at $35.99 for a 70cl bottle.
Specialty Products
“Specialty products are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Examples include specific brands of cars, high-priced photographic equipment, designer clothes, and the series of medical and legal specialists. (Armstrong & Kotler – Marketing 9e Ch.7 pg.201)”
I want Kettle V. to be an event when drinking it. That is why it is package the way it is and that it is unique from other vodkas. It is specialty vodka for special events.
I want Kettle V. to be an event when drinking it. That is why it is package the way it is and that it is unique from other vodkas. It is specialty vodka for special events.
Product Style and Design
“Another way to add customer value is through distinctive product style and design. Design is a larger concept than style. Style simply describes the appearance of a product. Styles can be eye-catching or yawn producing. A sensational style ay grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better. Unlike style, design is more than skin deep-it goes to the very heart of a product. Good design contributes to a product’s usefulness as well as to its look. (Armstrong & Kotler – Marketing 9e Ch.7 pg.205)”
They style of Kettle V. is sexy and unique at the same time. Shape like a tea kettle but still sexy like a vodka bottle. But the design of it, with its easy pouring spout and unique handle really separates it from other vodkas and is in a class on its own.
They style of Kettle V. is sexy and unique at the same time. Shape like a tea kettle but still sexy like a vodka bottle. But the design of it, with its easy pouring spout and unique handle really separates it from other vodkas and is in a class on its own.
Commercialization
“Test marketing gives management the information needed to make a final decision about whether to launch the new product. If the company goes ahead with commercialization-introducing the new product into the market-it will face high costs. The company may need to build or rent a manufacturing facility. And, in the case of a major new customer packaged good, it may spend hundreds of millions of dollars for advertising, sales promotion, and other marketing efforts in the first year. (Armstrong & Kotler – Marketing 9e Ch.8 pg.241)”
Kettle V. is going to be local to Las Vegas only and if successful will branch of to newer markets like L.A. and New York. I know I described the marketing plan like a big budget movie but really it more of an independent movie. I want to slowly grow Kettle V. and introducing it into a market like Las Vegas is going to show if Kettle V. is really going to be successful or not.
Kettle V. is going to be local to Las Vegas only and if successful will branch of to newer markets like L.A. and New York. I know I described the marketing plan like a big budget movie but really it more of an independent movie. I want to slowly grow Kettle V. and introducing it into a market like Las Vegas is going to show if Kettle V. is really going to be successful or not.
Product Life-Cycle Strategies
“After launching the new product, management wants the product to enjoy a long and happy life. Although it does not expect the product to sell forever, the company wants to earn a decent profit to cover all the effort and risk that went into launching it. Management is aware that each product will have a life cycle, although its exact shape and length is not known in advance.
Typical Product Life Cycle
1. Product Development – begins when the company finds and develops a new-product idea. During product development, sales are zero and the company’s investment cost mount.
2. Introduction – is a period of slow growth as the product is introduced in the market. Profits are nonexistent in this stage because of the heavy expenses of product introduction.
3. Growth – is a period of rapid market acceptance and increasing profits.
4. Maturity – is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increases marketing outlays to defend the product against competition.
5. Decline – is the period when sales fall off and profits drop.
(Armstrong & Kotler – Marketing 9e Ch.8 pg.246)”
Our main goal for Kettle V. is to by a style and not a fad. We will always re-invent Kettle V. and create more unique marketing plans whenever Kettle V. starts to stumble. If successful, I would like to expand Kettle V. into other unique tea/vodkas and eventually into fruit flavor vodkas. But for right now, all I want is a successful intro into the vodka market for Kettle V.
Typical Product Life Cycle
1. Product Development – begins when the company finds and develops a new-product idea. During product development, sales are zero and the company’s investment cost mount.
2. Introduction – is a period of slow growth as the product is introduced in the market. Profits are nonexistent in this stage because of the heavy expenses of product introduction.
3. Growth – is a period of rapid market acceptance and increasing profits.
4. Maturity – is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increases marketing outlays to defend the product against competition.
5. Decline – is the period when sales fall off and profits drop.
(Armstrong & Kotler – Marketing 9e Ch.8 pg.246)”
Our main goal for Kettle V. is to by a style and not a fad. We will always re-invent Kettle V. and create more unique marketing plans whenever Kettle V. starts to stumble. If successful, I would like to expand Kettle V. into other unique tea/vodkas and eventually into fruit flavor vodkas. But for right now, all I want is a successful intro into the vodka market for Kettle V.
Value-Based Pricing
“In the end, the customer will decide whether a product’s price is right. Pricing decisions, like other marketing mix decisions, must start with customer value. When customers buy a product, they exchange something of value (the price) in order to get something of value (the benefits of having or using the product). Effective, customer-oriented pricing involves understanding how much value consumers place on the benefits they receive from the product and setting a price that captures this value. (Armstrong & Kotler – Marketing 9e Ch.9 pg.260)”
The value of Kettle V. is going to be built on the fact of its hard availability and demand for it hopefully built on the 6-8 week ad campaign. And once people try Kettle V. and taste how great it is, the value Kettle V. will hopefully go up from there. I do not want to under value Kettle V. that is why I aggressively price a bottle of Kettle V. for $35.99 showing that it is more than just a regular vodka drink.
The value of Kettle V. is going to be built on the fact of its hard availability and demand for it hopefully built on the 6-8 week ad campaign. And once people try Kettle V. and taste how great it is, the value Kettle V. will hopefully go up from there. I do not want to under value Kettle V. that is why I aggressively price a bottle of Kettle V. for $35.99 showing that it is more than just a regular vodka drink.
Psychological Pricing
“Price says something about the product. For example, many consumers use price to judge quality. A $100 bottle of perfume may contain only $3 worth of scent, but some people are willing to pay the $100 because this price indicates something special. (Armstrong & Kotler – Marketing 9e Ch.9 pg.276)”
With a price tag of $35.99, I think it should convey that Kettle V. is a special drink for special occasion. It doesn’t have to be wedding but an elaborate social gathering among friends. Depending on how customers react to the price, that is when we will truly know the worth or Kettle V.
With a price tag of $35.99, I think it should convey that Kettle V. is a special drink for special occasion. It doesn’t have to be wedding but an elaborate social gathering among friends. Depending on how customers react to the price, that is when we will truly know the worth or Kettle V.
Tuesday, September 23, 2008
Marketing Strategy
“Consumers stand in the center. The goal is to create value for customers and build profitable customer relationships. Next comes marketing strategy-the marketing logic by which the company hopes to create this customer value and achieve these profitable relationships. The company decides which customers it will serve (segmentation and targeting) and how (differentiation and positioning). It identifies the total market, then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying customers in these segments. (Armstrong & Kotler – Marketing 9e Ch.2 pg.47)”
Kettle V. marketing Strategy is going to be built like an upcoming movie that is coming out. It is going to be a 6-8 week ad campaign through Las Vegas Weekly, spyonvegas.com, First Fridays, Third Thursdays and billboards around Las Vegas to build up the hype of Kettle V. and then at the 7 or 8 week the reveal of Kettle V. to the Las Vegas market.
The ad campaign is being built on two characters, a kettle of green tea and a bottle of vodka. Each week is a new chapter of their loving relationship until finally at the end when the tea kettle literally gives birth to Kettle V. The ads are going to be smart and funny and also have another set of ads that are sophisticated and sexy once Kettle V. is revealed.
The premise of this campaign is using the theory of supply and demand. Hopefully the 6-8 weeks of buildup of Kettle V. will garner attention like a blockbuster movie coming out in the summer time, and that when it does hit the market that the demand for it will force business to supply and stock Kettle V.
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Kettle V. marketing Strategy is going to be built like an upcoming movie that is coming out. It is going to be a 6-8 week ad campaign through Las Vegas Weekly, spyonvegas.com, First Fridays, Third Thursdays and billboards around Las Vegas to build up the hype of Kettle V. and then at the 7 or 8 week the reveal of Kettle V. to the Las Vegas market.
The ad campaign is being built on two characters, a kettle of green tea and a bottle of vodka. Each week is a new chapter of their loving relationship until finally at the end when the tea kettle literally gives birth to Kettle V. The ads are going to be smart and funny and also have another set of ads that are sophisticated and sexy once Kettle V. is revealed.
The premise of this campaign is using the theory of supply and demand. Hopefully the 6-8 weeks of buildup of Kettle V. will garner attention like a blockbuster movie coming out in the summer time, and that when it does hit the market that the demand for it will force business to supply and stock Kettle V.
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Wednesday, September 17, 2008
Competitors
“The marketing concept states that to be successful, a company must provide greater customer value and satisfaction than its competitors do. Thus, marketers must do more than simply adapt to the needs of the target consumers. They also must gain strategic advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers. (Armstrong & Kotler – Marketing 9e Ch.3 pg.67)”
Charbay Green Tea Vodka
Smirnoff
Absolut
Charbay, Absolut and Smirnoff are Kettle V. biggest competitors. Charbay is the only company to produce green tea vodka, but has very little awareness of the product and is also cheap at $35 dollars a bottle. Smirnoff is Kettle V. main competitor because we both are targeting the same type of audience. What makes us difference from Smirnoff is the fact that Kettle V. is a tea flavor vodka and Smirnoff specialize in fruit flavor vodkas. From that distinction, hopefully Kettle V. can capitalize on audience looking for a different type of vodka and steal away market share the Smirnoff has. Absolut is also a great competitor since its brand is the type of brand Kettle V. is looking for. A luxury vodka for the sexy and sophisticated.
Charbay Green Tea Vodka
Smirnoff
Absolut
Charbay, Absolut and Smirnoff are Kettle V. biggest competitors. Charbay is the only company to produce green tea vodka, but has very little awareness of the product and is also cheap at $35 dollars a bottle. Smirnoff is Kettle V. main competitor because we both are targeting the same type of audience. What makes us difference from Smirnoff is the fact that Kettle V. is a tea flavor vodka and Smirnoff specialize in fruit flavor vodkas. From that distinction, hopefully Kettle V. can capitalize on audience looking for a different type of vodka and steal away market share the Smirnoff has. Absolut is also a great competitor since its brand is the type of brand Kettle V. is looking for. A luxury vodka for the sexy and sophisticated.
Marketing Summer Blogs 08
Blogs
Black, Lena Janae http://dreamflowinc.blogspot.com/
Cox, Robert Earl http://wickedpaws.blogspot.com/
DeGuzman, Arvinjay http://hellagoodproductions.blogspot.com/
Estrada, Stephanie Marie http://cameleonvodka.blogspot.com/
Gingsumrong, Jimmy Jaruwat http://pheonixpyro.blogspot.com/
Gulden, Karisa Lynne http://blushingbridevodka.blogspot.com/
Guzman, William Rafael http://hamcracker.blogspot.com/
Hard, Timothy Bryan http://wastedproduction.blogspot.com/
Hernandez, Ricci Anthony http://finnvodka.blogspot.com/
Holtzman, Craig Matthew http://creativemindsproduction.blogspot.com/
Mathews, Micha Lindsey http://flirtingwithadventure.blogspot.com/
Meade, Melody A. http://melodyshines.blogspot.com/
Munoz, Andrew James http://pennysteeler.blogspot.com/
Norsworthy, Michael Dewayne http://prettyvodka.blogspot.com/
Parker, Kiely Charles http://cerebralcease.blogspot.com/
Schafer, Lynn Marie http://sapphirestudioproductions.blogspot.com/
Schiebel, Katherine http://lady702.blogspot.com/
Silva, Laura http://lvcharisma.blogspot.com/
Staten, Brittney C. http://bstatestudios.blogspot.com/
Surrett,Monica Lynn http://blankgoldproductions.blogspot.com/
Yorgans, Ardashes Sevan http://prochargedproductions.blogspot.com/
Mr. Pinto http://heyheydaddio.blogspot.com/
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