EOC: WEEK 9: THREE GREAT MISSION STATEMENTS

The purpose of a mission statement, as defined by the book, is:  A statement of the organization’s purpose—what it wants to accomplish in the larger environment.

I like the mission statement of Joaquim Abbott because it provides a pretty good description of what the product does:

The mission of Philleas Fogg Snacks is to provide a unique flavor experience that will take your taste buds on a journey around the world and back. We allow mature adults to enjoy snacks that complement the alcohol experience by providing narratives that are instant conversation starters.

http://jquik.blogspot.com/search/label/Final%20Project

I also like the mission statement of Victor Camarillo because it is to the point and humorous:

Our goal at Captain Deez Nuts is to deliver to our customers with the ultimate snacking experience that can be perfectly enjoyed in almost any occasion. Whether its relaxing watching the game with friends, or a much needed break in the office, our premium ingredients and superior taste will make sure that you are satisfied with your purchase. I guarantee you from start to finish, Deez Nuts will be on your mind the whole time!

http://vegasvicphoto.blogspot.com/

The third mission statement I like is Sharon St.Laurent, it to is to the point:

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/

EOC WEEK 8: CREATIVE CONTENT

My major is photography so I plan to make a print ad, like that could be run in a magazine. The ad will be vertically oriented and letter size.

My product is ‘Sakura’ seaweed flavored rice crackers from the sea ports of Japan.

 I plan to have a picture of a Japanese woman. She will be dressed in traditional Japanese clothing or possibly a trenchcoat. She will be dark and mysterious.  She will be on one side, next to a large barrel full of the Japanese rice crackers. She will be holding some rice crackers and showing them to the viewer.
Since packaging was invented in 1898 and this took place before then, the crackers will be sold in a barrel with none of the clear plastic packaging we are used to.
 It will be very dark, as she is supposed to represent the mysterious lady who met Phileas Fogg on the waterfront of Yokohama Japan. The tone will be dark and somber, as if the spies could get her at any moment. There will be a spot light on the product, so while she will be in the shadows, the product will be clearly visible, as will the story printed on the barrel. Darkness will obscure the scene to make the viewer focus on just the product.
On top of the image, superimposed, will be the ad script, saying ‘Try Phileas Fogg’s Sakura seaweed snack, straight from the seaport of Japan to a store near you’. It will be using an old fashioned font or maybe a Japanese-ish one to make it look exotic.
On the barrel will be the script of Phileas Fogg’s adventure.

FINAL: IMPLEMENTATION, EVALUATION, CONTROL

Controls 'will be used to monitor progress and allow higher management to review implementation results and spot products that are not meeting their goals. It includes measures of return on marketing investment.' (book page 56)

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.' (book page 58)

Implementation 'spells out how marketing strategies will be turned into specific action programs that answer the following questions: What will be done? When will it be done? Who will do it? How much will it cost? '(book page 56) Implementation is 'the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives.' (book page 57)      For the Phileas Fogg's Seaweed Snack product, the marketing department will set goals at the beginning of the fiscal year involving market share, sales and return on marketing investment. The results will be evaluated yearly, quarterly and monthly using market research and other methods to measure progress toward those goals. The strategies and controls will be adjusted as needed, so that if one marketing strategy is working well it can be implemented as needed.  Individual marketing campaigns will be measured to see if the cost per customer justifies them.      A website will be made, as will a blog and a twitter feed. Online ads will be placed on google and maybe other services and a cost per customer will be calculated to see if they need adjusting. These will target younger (21-35) customers that might not be reachable by traditional media.     Bars will be contacted to see if they are willing to set out some of the product samples during athletic events or other times when they have lots of customers. Ads and other promotions will be done with the bars at those times, like maybe during football season.       Liquor stores and convenience stores will be contacted to see if they are willing to carry the product.       Another possibility is using snack food distributors if the terms they offer would be beneficial. Such an agreement would have to be carefully thought out as it means less profit and less control of the distribution in return for more customers and access to some stores that might not accept the product otherwise. [NOTE: For purposes of these blogs, all references to 'book' refer to Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing]

FINAL: PRICE

'Price: The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service.'

(book page 275)

'Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. As a part of a company’s overall value proposition, price plays a key role in creating customer value and building customer relationships.'

(book page 275)

'The price the company charges will fall somewhere between one that is too high to produce any demand and one that is too low to produce a profit ... Customer perceptions of the product’s value set the ceiling for prices. Product costs set the floor for prices.' 

(book page 276)

'Three major pricing strategies: customer value-based pricing, cost-based pricing, and competition-based pricing.

• Customer value-based pricing: Setting price based on buyers’ perceptions of value rather than on the seller’s cost.
• Cost-based pricing: Setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.
• Competition-based pricing: Setting prices based on competitors’ strategies, prices, costs, and market offerings.'

(book page 276-280)

     The initial plan for Phileas Fogg's Seaweed Snacks is to price them at $2 per 2 ounce bag, that is a competition based price and is about what the competitors are charging. This assumes that price is lower than the cost. There are no plans to sell the product at a loss though some could be given away in bars possibly as a marketing strategy to get consumers to try the product.
     Different size bags will be introduced as needed, like a larger bag, if the situation warrants it. 
     Being the low price leader would be hard in the beginning since the competition would have economies of scale therefore, the plan is to price the product in the middle of the competition, this will give customers good value and probably will produce reasonable profit, though this would be hard to calculate without knowing the full costs. 

FINAL: PROMOTION

'Promotion means activities that communicate the merits of the product and persuade target customers to buy it.' (book page 54)

This is the ad I made, to be run in magazines like ESPN magazine and others: 

     Phileas Fogg Seaweed snack will be introduced in bars and advertised to get people to try it. Promotions will be done with the bars during sporting events and during football season to get more people to try the product. Promotions will be coordinated with other flavors of Phileas Fogg snack products so consumers can follow the adventures of Phileas Fogg as he goes around the world trying delicious snack products. This would generate interest in the whole product line and increase brand equity.
    It will be sold and promoted in liquor stores and convenience stores. Cross promotions will be done with them and attempts will be made to get national chains to carry the product, like 7-11.
    Social media like facebook and twitter will be used to target adults who are looking for something new to go with their beer or by itself as a snack. Such ads will reach a younger crowd, aged 21-35, than might otherwise be reachable by traditional media like newspapers, television and magazines.
    
    

FINAL: DISTRIBUTION

'A marketing channel or distribution channel is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.'

(book page 311)

'Marketing channel design is designing effective marketing channels by analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating them.

(book page 322)'

     The Phileas Fogg Seaweed Snacks product will be introduced at bars and sold in liquor stores and convenience stores. Attempts will be made to get national chains, like 7-11 to carry it.
     Later it could be sold in supermarkets. Initially the product will be sold directly to stores though later some distributor would possibly be used if the goals of the distributor align with the goals of Phileas Fogg. Use of a distributor might be necessary to get the product stocked in certain stores and the costs and benefits of such a deal must be considered. Selling to distributors would result in less control but more stores versus selling direct to stores would result in greater profit and greater control.

FINAL: PRODUCT

A product is 'anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.' (book page 209)

'Product planners need to think about products and services on three levels. Each level adds more customer value. 

1. The most basic level is the core customer value, which addresses the question What is the buyer really buying? When designing products, marketers must first define the core, problem-solving benefits or services that consumers seek. 
2. At the second level, product planners must turn the core benefit into an actual product. They need to develop product and service features, design, a quality level, a brand name, and packaging. 
3. Finally, product planners must build an augmented product around the core benefit and actual product by offering additional consumer services and benefits. '

(book page 211)

'The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features. Under this concept, marketing strategy focuses on making continuous product improvements.' (book page 10)

A 'product review that shows sales, prices, and gross margins of the major products in the product line.' (book page 56)

'Convenience product: A consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort.' (book page 211)

     My product is Phileas Fogg's Seaweed Snack. It is a seaweed flavored rice cracker from Japan. It looks like seaweed covering a rice cracker. It is a convenience product meant to be eaten with beer or any time people want a delicious, convenient snack. 
     It will satisfy a customer's needs for a convenient, tasty, healthy snack to eat between meals or during sporting events or other occasions when beer is served.
     The product will initially only be available in 2 ounce bags though larger size bags and possibly other flavors will be introduced in the future as need arises. Here is one prototype design for the front of a bag of the product, showing images of Phileas Fogg and his valet Passepartout. The product itself is visible through the clear part on the bottom of the bag: 

FINAL: TARGET MARKET STRATEGY

'A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.. Companies can target very broadly (undifferentiated marketing), very narrowly (micromarketing), or somewhere in between (differentiated or concentrated marketing). '(book page 186)

'Companies need to consider many factors when choosing a market-targeting strategy. Which strategy is best depends on company resources .. and on the degree of product variability. The product’s life-cycle stage also must be considered. When a firm introduces a new product, it may be practical to launch only one version, and undifferentiated marketing or concentrated marketing may make the most sense. In the mature stage of the product life cycle, however, differentiated marketing often makes more sense.

Another factor is market variability. If most buyers have the same tastes, buy the same amounts, and react the same way to marketing efforts, undifferentiated marketing is appropriate. Finally, competitors’ marketing strategies are important. When competitors use differentiated or concentrated marketing, undifferentiated marketing can be suicidal. Conversely, when competitors use undifferentiated marketing, a firm can gain an advantage by using differentiated or concentrated marketing, focusing on the needs of buyers in specific segments.' (book page 192)

     The target market for Phileas Fogg's Seaweed Snack will be adults and people who like beer. It is assumed that younger people are more likely to try new things so as such, those under 50 will be targeted first.
     The product will initially be given away or sold to bars cheaply in an effort to gain market penetration so people who like the taste can go to the liquor store or convenience store and buy some to eat at home. As this is a new product, initially there will only be one size, the 2 ounce bag. Later other sizes will be added.
    Social media like websites, a blog, and google ads, will be created to promote the product to the younger adults, ages 21-35, who aren't always reachable by traditional media.
    The marketing strategy will depend to some extent on the competition's strategy. If the competition is using undifferentiated marketing then market research will be used to conduct targeted marketing to specific market groups, like for example, young males of drinking age who watch certain sports. 

[NOTE: For purposes of these blogs, all references to 'book' refer to Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing]

FINAL: SITUATION OR SWOT ANALYSIS

'SWOT analysis is an overall evaluation of the company’s 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. Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance.' (book page 55)

Threats and opportunities analysis 'assesses major threats and opportunities that the product might face, helping management to anticipate important positive or negative developments that might have an impact on the firm and its strategies.' (book page 56)

The current marketing situation is 'a market description, that defines the market and major segments, then reviews customer needs and factors in the marketing environment that may affect customer purchasing.' (book page 56)

Strengths: 
New marketing campaign, new product, new taste. Interesting story line and linkage to other Phileas Fogg snack products. Some of the competing snack foods don't advertise. Having bars give out the product will win over some customers. Using social media like facebook and twitter and online ads may give an advantage over some existing products that don't use it.

Weaknesses: stiff competition from existing brands in a mature market, (the snack food market). Some customers don't like trying new things. The seaweed flavor is familiar in Japan but not in the US and other countries.

Opportunities:

The product is new so customers haven't already made up their minds as to whether or not they like it. The product will be a new, healthy alternative to traditional bar foods. 

Threats: 

There are other snack foods on the market that have been there a long time, these include potato chips, nuts, popcorn, cookies, crackers, and other snack foods. Some of the competitors have well known brands that people trust.

FINAL: OBJECTIVES

The goal of any marketing plan is to 'attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction'. (Book page 5)

Another key goal of a marketing plan should be customer relationship management, the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. It deals with all aspects of acquiring, keeping, and growing customers. (book, page 13)


The objective 'states the marketing objectives that the company would like to attain during the plan’s term and discusses key issues that will affect their attainment. For example, if the goal is to achieve a 15 percent market share, this section looks at how this goal might be achieved.' (book page 56)

    Marketing objectives for Phileas Fogg's Seaweed Snack product: to grow market share by delivering superior customer value. Hopefully in doing so some profit is attained, but as with all new products, the company will probably lose money the first few years. Since the product is new, the objective would be modest, to grow market share to 10% of the market by the end of the first year and 25% by the end of 3 years, constantly revising such numbers at the beginning of every year to make sure they are realistic and revising the marketing strategy if the market share is not meeting that objective.
    Main factors that would prevent the company from attaining such goals is that the snack food market is a mature market with lots of competition from established companies and in a bad economy such as now, it might turn out to be that the only way to grow market share is to take market share away from competitors, which isn't always easy. Also competitors might have a cost advantage due to economies of scale and long standing relationships with distributors that give them favorable terms.
    On the other hand, even in a bad economy people are always eating snack foods as eating is a necessity and there are always those consumers who are not satisfied and looking to try something different.

[NOTE: For purposes of these blogs, all references to 'book' refer to Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing]

FINAL: BUSINESS MISSION STATEMENT

'An organization exists to accomplish something, and this purpose should be clearly stated. Forging a sound mission begins with the following questions: What is our business? Who is the customer? What do consumers value? What should our business be? These simple-sounding questions are among the most difficult the company will ever have to answer. Successful companies continuously raise these questions and answer them carefully and completely.' (book page 39)

One way to do this is with a mission statement, "A statement of the organization’s purpose—what it wants to accomplish in the larger environment." (book page G 10).

The mission statement for Phileas Fogg's Seaweed snacks is: To provide delicious, quality snacks to our customers at a reasonable price while conducting all business with integrity, whether it be within the company, with suppliers, or anyone else.

[NOTE: For purposes of these blogs, all references to 'book' refer to Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing]

WEEK 8 BOC: THE ADVENTURE

As I, Phileas Fogg, along with my valet, Passepartout, made my way around the world to collect on the £20,000 offered by London's Reform club for the person first to make it around the world in 80 days, I was constantly being tailed by that persistent British detective Fix, who falsely thought I robbed the Bank of England and was hot on my tail, having pursued me halfway around the world. Today I was in Yokohama Japan, having arrived by steamer from Shanghai China. In the confusion of stowing away on the steamer, my valet Passepartout and I had become separated and he had come on his own. It took me a while to locate him, finally finding him hiding out with a travelling circus. Reunited, we went to the waterfront looking for a way to get to San Francisco for the next leg of the journey.

            It was foggy that morning and the waterfront looked dark and foreboding. I was a stranger in a strange land. I didn't know who to trust. Ahead I spied the silhouette of a person. Who was it? Who could it be? Fix? One of his cronies? A dockworker ? As I got closer, I noticed it was a Japanese lady. Going on my gut, I took a chance and spoke to her, not knowing if she understood English or if she would turn me in to the authorities where Fix would catch me and send me back to prison in England.  Nervously I told her my story and was relieved when she seemed sympathetic to my plight. She knew the docks well, having grown up there, the daughter of a longshoreman. She persuaded me and Passepartout to hide in some crates on a steamer bound for San Francisco. The crate contained some green snacks. Curious, I tasted one of them and to my surprise discovered I love the taste, and I am sure you will too, so now we bring that taste to you, the Sakuro seaweed rice cracker snack, straight from the docks of Japan to a store near you.

FINAL: THE PITCH EOC WEEK 7

The product I chose is Phileas Fogg's Seaweed Snack from Japan.

      As I, Phileas Fogg, along with my valet, Passepartout, made my around the world trip to collect on the $20,000 wager by the members of London's Reform club for the person first to make it around the world in 80 days, I was constantly being tailed by that persistent British detective Fix, who falsely accused me of robbing the bank of England and was now hot on my tail, having pursued me halfway around the world through 43 countries with no let up in sight. The day before I had come by steamer from Shanghai. Passepartout and I had become separated and he had come on his own. It took me a while to locate him, finally finding him hiding out with a travelling circus. Reunited, we went to the waterfront of Yokohama, Japan, looking for a way to get to San Francisco. 
     The waterfront looked dark and foreboding and I didn't know who to trust. I entered a warehouse to hide in. Someone was there. Who was it? Fix? One of his cronies? A dockworker ? As I got closer, I noticed it was a Japanese lady. Going on my gut, I took a chance and spoke to her, not knowing if she understood English or if she would turn me in to the authorities. I told her my story and she was sympathetic to my plight. She knew the docks well, being the daughter of a longshoreman. She persuaded me and Passepartout to hide in some crates on a steamer bound for San Francisco. The crate contained some green snacks. Curious about them, I tasted one of them and to my surprise discovered I love the taste, and I am sure you will too, so now we bring that taste to you, Phileas Fogg's Seaweed Snack.

EOC WEEK 6: me * 3

One item that defines me is my Van’s shoes. I have been wearing them since I was 10 or so and I still wear them to this day. I tried other shoes, but because of the high arch I have, they were very uncomfortable and slipped, so I went back to the Vans. The shoes are very casual, and very comfortable. It doesn’t matter to me that they go in and out of style, nor that they are technically a skateboarding shoe and I don’t skateboard. I wear them everywhere. People in the Sierra Club are shocked that I wear them while hiking but I explain to them that I have been wearing them on hikes since I was a kid and never had a problem, and that also because of the thin rubber sole, I can climb rocks easier than I would with a stiff soled hiking boot that most hikers wear.

Another item that defines me is my camera. As a photographer, I feel naked without it and almost always have it with me. Many years ago, when I was first starting photography, I asked my cousin what camera to buy. He gave me very good advice, he said that I shouldn’t buy a specific camera for its features, but rather think of a camera as a lens system, and that to therefore buy the camera with the best set of lenses. This pretty much narrowed it down to Canon or Nikon, as they have the most lenses. So 6 cameras bodies later, I am still a Canon guy and probably always will be because I have so much invested in lenses that it would be expensive to switch to another brand, plus I see no point in switching as I am very satisfied with the Canon products. I even now have a few Canon printers.

 

 

A third item that defines me is my car. I think to some extent, you are what you drive, in that it tells about who you are or how you want others to perceive you. I have a Toyota 4Runner SUV. I like it because it is very fast and reliable and rugged and outdoorsy and somewhat masculine but not beating you over the head with it.  It has a lots of miles on it but runs great, and is almost all original equipment, like me. It is 4 wheel- drive and can go anywhere even on snow or sand. It can carry a huge amount of stuff with no problem and still blows the other cars away with its 0-60 in 8 seconds speed.