Week 8 EOC: The Adventure

I had been running along the French countryside for some time without food and with barely any water. It had been a long day but the sun was only just reaching its peak in the sky. Naturally, I was tired and weak, having been so ill prepared for a trip such as that, and managed to climb a hill where I might rest for a moment before starting back on my path to the next town with a train. There, I noticed a building not far in the distance; perhaps its inhabitants would have something to eat or a place to sit for a short while. Instead of resting on the hill, I mustered the will to trudge to the place in the distance, and knocked on the door, receiving no response. The door then opened on its own – strange, yes, but of no importance to me, as when it opened, I saw a marvelous kitchen filled with wheels of finely aged brie cheese! My hunger managed to get the better of me, and I reached over to obtain just a taste of the delicious dairy delight before me when I heard the door slam shut violently. I quickly spun myself around only to be just barely grazed by a flying kitchen knife, likely thrown by the angry cheese-maker who now stood between me and my way out. He lunged toward me, hurling and swinging all manner of kitchen utensils. I dodged pots, pans, knives, forks, and the like. Finally, all that was left for him to throw was a pan containing leftover bacon from the cheese-maker’s breakfast. I thought quickly enough to save myself from the pork hurdling toward me with a rather large wheel of cheese. The bacon had stuck to the brie, forming a sturdy bacon-and-cheese shield, with which I managed to strike the face of the angry artisan. He stood, dumbfounded, for a moment and chewed the savory mixture of foods. Apparently, it was the most magnificent thing he had ever tasted. He would later offer me a glass of wine, his finest horse, his estate, his daughter’s hand in marriage, and a warm plate of bacon and brie.

Implementation Evaluation Control

 Marketing implementation can be described as "...the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives. Whereas marketing planning addresses the what and why of marketing activities, implementation addresses the who, where, when, and how."(Marketing: an Introduction, Ch. 2, Pg. 57) The "who" is the Phileas Fogg company and all parties who participate in creating, distributing, purchasing, using, and/or sharing the product. This includes suppliers, distributors, advertisers, and even consumers and their friends. The "where" is any place where the aforementioned people work or consume the product or media related to the product. No matter where people are, in modern times, they almost always have access to digital media. Of course, there will be a strong media campaign to advertise and market Phileas Fogg's French Bacon and Brie, so anyone, anywhere, will be subject to some sort of consideration of that product. The "when" consists of any time when people are at a bar or promotional event for anything alcohol-related, as well as while browsing the internet or television and viewing advertisements. People will develop an idea of how they feel toward the product, either by consuming it, talking to someone who has, or consuming media in which people discuss it. The "how" has to start as a small operation. Initially, the Phileas Fogg company will have to reach out to potential partners and formulate an agreement between them so that the product can be manufactured with the desired ingredients (real brie cheese real bacon) and eventually distributed and sold in bars. Afterward, a few adventurous or curious individuals will have to try the product for themselves, regardless of how much advertising is conducted on the company's part. Consumer response, manufacturing costs, and total profits will have to be evaluated for efficacy before control can be implemented. "Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed." (Marketing: an Introduction, Ch. 2, Pg. 54) Should there be any problems, corrective actions will be taken accordingly.

Price

“Price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service.” (Marketing: an Introduction, Ch. 9, Pg. 275) Because of this, I want to provide a fair value for a fair price. Other products that have similar qualities to my own are priced in such a way that would place my specialty product at about 4$ to 5$. A small bag of Cheetos comparable to my Brie cheese sticks is priced at about 1$. These are very cheap to produce as the majority of the ingredients will be put toward the puffed corn base, and the cheese powder is made via a very inexpensive process that condenses and dries small droplets of cheese. Vast quantities of the powder can be preserved and stored, making the integration of cheese into a nonperishable item possible. The bacon portion should be the most expensive part of the manufacturing process, as the cheapest bacon jerky that I could find on the market costs about 4$ to the consumer in order to turn a profit. Preservatives, of course, will have to be added to some degree. Finally, unique and reliable packaging will make up the final expenses for all parties. “It’s important to remember that ‘good value’ is not the same as ‘low price.’” (Marketing: an Introduction, Ch. 9, Pg. 276) I would like to provide a fun, tasty, and somewhat familiar yet exotic snack food made with real meat and cheese, so it would be difficult to profit from a considerably "low" price.“In the end, the customer will decide whether a product’s price is right.” (Marketing: an Introduction, Ch. 9, Pg. 275)

Promotion

Promotions involve “…tools used to communicate with consumers. For example, advertising includes broadcast, print, Internet, outdoor, and other forms. Sales promotion includes discounts, coupons, displays, and demonstrations. Personal selling includes sales presentations, trade shows, and incentive programs. Public relations includes press releases, sponsorships, special events, and Web pages. And direct marketing includes catalogs, telephone marketing, kiosks, the Internet, mobile, and more.” (Marketing: an Introduction, Ch. 12, Pg. 377) It would not be inconceivable to work with bars or alcohol manufacturers to provide promotions such as sales, package deals, special offers when purchasing certain drinks, etc. “Consumer purchases are influenced strongly by cultural, social, personal, and psychological characteristics... For the most part, marketers cannot control such factors, but they must take them into account.” (Marketing: an Introduction, Ch. 5, Pg. 137) During certain national holidays, drinking alcohol becomes a sort of widespread ritual, and all parties can benefit from proposing special deals for St. Patrick's Day or the Fourth of July, for example. Taking advantage of such cultural phenomena would be wise. In addition, “today, more companies are adopting the concept of integrated marketing communications (IMC). Under this concept… the company carefully integrates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its brands.” (Marketing: an Introduction, Ch. 12, Pg. 380) All relationships with suppliers, distributors, re-sellers, and the like, it there should be a constant message relayed by the quality and diligence of the company's internal and external workings that instill a sense of reliability that makes Phileas Fogg a desirable company with which to work.

Distribution

"Few producers sell their goods directly to the final users. Instead, most use intermediaries to bring their products to market. They try to forge a marketing channel (or distribution channel) — a set of interdependent organizations that help make a product or service available," (Marketing, an Introduction, Ch. 10, Pg. 311) so I've decided to sell the product by request on the Phileas Fogg website, sell to retailers (bars) who re-sell the product, and refrain from selling to a distribution company that will send my product to wherever they see fit. "...many companies have used imaginative distribution systems to gain a competitive advantage." (Marketing, an Introduction, Ch. 10, Pg. 311) My imaginative distribution idea is to work directly with small businesses in various locations that transport products and send them to all bars with whom I (the Phileas Fogg company) have negotiated deals for selling the product. I intend to have a large department for the sole purpose of tending to the needs to various bars in various regions of the world. That clientele will take some time to build, but will be more intimate and facilitate better cooperation between parties in the long run.

Product

“We define a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Products include more than just tangible objects, such as cars, computers, or cell phones. Broadly defined, ‘products’ also include services, events, persons, places, organizations, ideas, or mixes of these.” (Marketing: an Introduction, Ch. 7, Pg. 208) In this case, my product is a food item that not only provides nourishment as a compliment to the experience of drinking in a bar but also facilitates social behavior with its intriguing packaging and marketing.

To begin with, however, there are a few questions that must be asked before even thinking of introducing a new product to an already saturated market. "First, Is it real? Is there a real need and desire for the product and will customers buy it? Is there a clear product concept and will the product satisfy the market? Second, Can we win? Does the product offer a sustainable competitive advantage? Does the company have the resources to make the product a success? Finally, Is it worth doing? Does the product fit the company’s overall growth strategy? Does it offer sufficient profit potential?" (Marketing: an Introduction Ch. 8, Pg. 248) To answer the first question, of course there is a niche market for snacks that are to be sold specifically in bars. The product is real. Not many companies primarily sell their products in bars other than those whose products are alcoholic beverages or garnishes for those beverages. With regards to the second question, I'm certain that we can "win" if we provide enough intrigue about the product and market it appropriately. There is little to no competition and opportunities for innovation are boundless. To answer the final question, there is a great opportunity for profit based on questions one and two. There is potential for a well-known and well-developed product to surface in this market. It's worth doing.

A good product is no longer enough to stand out in today's competitive market. “…Companies are moving to a new level in creating value for their customers. To differentiate their offers, beyond simply making products and delivering services, they are creating and managing customer experiences with their brands or company.” (Marketing: an Introduction, Ch. 7, Pg. 209) To differentiate my product, the cheese ingredients in my snack food will be derived from actual French Brie cheese and, as I had said before, the marketing of this product both on and off of the packaging will be interesting and engaging (courtesy of Phileas Fogg's tall tales).

Target Market Strategy

“The customer-driven marketing strategy… outlines which customers the company will serve (the target market) and how it will serve them (the value proposition).” (Marketing: an Introduction, Ch. 1, Pg. 12) That said, I intend to market my product to any bar that will have it, and even more importantly, those who visit such places in order to socialize and relax.

“A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve. Market targeting can be carried out at several different levels… companies can target very broadly (undifferentiated marketing), very narrowly (micromarketing), or somewhere in between (differentiated or concentrated marketing).” (Marketing: an Introduction, Ch. 6, Pg. 186) I suppose I'll be marketing very broadly, as bars (or bar-like places) are hard not to find in any town around the world.

Of course, I'll have to figure out how to market to these people. Ideally, observational research should suffice in seeing how people respond to my product and how I can best create value for them. “Observational research involves gathering primary data by observing relevant people, actions, and situations.” (Marketing: an Introduction, Ch. 4, Pg. 110) I'll send representatives to bars, first in a few places and on a small scale, then on a larger scale as the product builds momentum on the market.