Kool Aid Pops
Tuesday, December 16, 2008
Osteen Media Group
Offering the product to a broader audience will help you achieve the goals you have set for your product. While college students and younger adults will value this product so will adults and many others. Altering and adding change to your product will get you where you are trying to be.
Sunday, December 14, 2008
Comment for Cashis Power
"The only value your company will ever create is the value that comes from customers-the ones you have now and the ones you will have in the future." Building value is a very important and valuable trait.
By delivering value and obtaining customer equity, the loyalty needed to drive your cookbook will eventually bring you great success.
By delivering value and obtaining customer equity, the loyalty needed to drive your cookbook will eventually bring you great success.
Yet another quote
"A brand that captures your mind gains behavior, a brand that captures your heart gains commitment." -Scott Talgo
(http://www.bizcommunity.com/Quotes/416/11.html)
(http://www.bizcommunity.com/Quotes/416/11.html)
Researched Quote
"Marketing takes a day to learn, unfortunately it takes a lifetime to master."-Philip Kotler
(http://www.bizcommunity.com/Quotes/416/11.html)
Marketing is the activity, set of institutions, and processes for creating, communicating, and delivering, and exchanging offerings that have value for customer's, clients, partners, and society at-large. This marketing process can be learned and interpreted quickly but mastering it would definitely take some time. There is so much valuable information that can be used to the advantage of many. Marketing is so broad included is many strategies used to help identify strengths, weaknesses, and opportunities that will only help to evaluate success!
(http://www.bizcommunity.com/Quotes/416/11.html)
Marketing is the activity, set of institutions, and processes for creating, communicating, and delivering, and exchanging offerings that have value for customer's, clients, partners, and society at-large. This marketing process can be learned and interpreted quickly but mastering it would definitely take some time. There is so much valuable information that can be used to the advantage of many. Marketing is so broad included is many strategies used to help identify strengths, weaknesses, and opportunities that will only help to evaluate success!
Understanding and Capturing Customer Value
"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 (Armstrong & Kotler, marketing, Pg. 259)."
Identifying how the average customer views value gives the advantage of delivering it in a greater organized matter. Looking beyond the price for a moment, I will first focus on the marketing strategies that I must apply considering each one carefully. Paying attention to the demand of the product and how it will fit into the market. I will then research and keep track of the strategies and pricing the competitors use to their advantage. Coming up with a steady and reasonable price includes the steps I've listed and making the price higher than the product cost and no lower than the floor. This is known as consideration in setting the price which is added into my cookbook marketing plan to accurately price my product. "Even in today's economic environment, it's not about price, it's about keeping customers loyal by providing service they can't find anywhere else (Armstrong & Kotler, marketing, Pg. 261)." Delivering unique one of a kind service attracts buyers to the product no matter what the price may be. Customers are willing to support higher prices as long as they capture the desire and loyalty they seek. The quality and creativity of "My Ghetto Cookbook" will deliver and capture customer value itself at both a personal and emotional level. In order to develop value pricing power complements my plan by helping to escape price competition. Pricing power justifies higher pricing and margins without losing market share. I want those interested in my cookbook to overlook the price and focus on the product and its originality, variety, and the fun that will create memories in the kitchen. The delight it will deliver as a gift no matter the occasion. Although price may fluctuate depending on the progress having Patience give my cookbook the opportunity to deliver customer value to many!
Identifying how the average customer views value gives the advantage of delivering it in a greater organized matter. Looking beyond the price for a moment, I will first focus on the marketing strategies that I must apply considering each one carefully. Paying attention to the demand of the product and how it will fit into the market. I will then research and keep track of the strategies and pricing the competitors use to their advantage. Coming up with a steady and reasonable price includes the steps I've listed and making the price higher than the product cost and no lower than the floor. This is known as consideration in setting the price which is added into my cookbook marketing plan to accurately price my product. "Even in today's economic environment, it's not about price, it's about keeping customers loyal by providing service they can't find anywhere else (Armstrong & Kotler, marketing, Pg. 261)." Delivering unique one of a kind service attracts buyers to the product no matter what the price may be. Customers are willing to support higher prices as long as they capture the desire and loyalty they seek. The quality and creativity of "My Ghetto Cookbook" will deliver and capture customer value itself at both a personal and emotional level. In order to develop value pricing power complements my plan by helping to escape price competition. Pricing power justifies higher pricing and margins without losing market share. I want those interested in my cookbook to overlook the price and focus on the product and its originality, variety, and the fun that will create memories in the kitchen. The delight it will deliver as a gift no matter the occasion. Although price may fluctuate depending on the progress having Patience give my cookbook the opportunity to deliver customer value to many!
Thursday, December 11, 2008
New product development and product life cycle strategies
"Both consumers and companies love new products consumers because they solve problems and bring variety to their lives, and companies because they are a key source of growth (Armstrong & Kotler, marketing, pg. 233)."
New products excite both marketers and consumers. Variety is what is preferred these days. Having the opportunity of choosing between a variety of products in a brand gives availability to diverse customers. When producing a new product such as my cookbook, research can help the process go smoother. The product should say what it is and anticipate customers needs while delighting them. "My Ghetto Cookbook" is a special product, the story it tells is unique. The cookbook gives easy recipe ideas that can be accomplished on the go and taste good. "After launching the new product management wants the product to enjoy a long an 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 (Armstrong & Kotler, marketing, pg. 246)." Reaching the success right after a product is launched is easier said than done. While some products take off faster than others what i expect of my product is to be steady. I don't expect the first edition to sell forever but it will be available to purchase at all times. After the launch of my first cookbook I think the hard work and effort will pay off and strengthen the reputation and development of Chelz Productions. The course of a product's sales and profits over its lifetime is what is known as the product life cycle. I've interpreted the product life cycle strategies into my marketing plan to stay organized and understand how to evaluate the cookbook. Knowing where my product stands can strengthen my chances of lengthening my success. Obviously product development is the first stage in the product life cycle and is then followed by introduction, growth, maturity, and a decline stage. All products don't follow these exact stages which leads those products to die quickly. The product life cycle definitely outlines my plans of my products progress.
New products excite both marketers and consumers. Variety is what is preferred these days. Having the opportunity of choosing between a variety of products in a brand gives availability to diverse customers. When producing a new product such as my cookbook, research can help the process go smoother. The product should say what it is and anticipate customers needs while delighting them. "My Ghetto Cookbook" is a special product, the story it tells is unique. The cookbook gives easy recipe ideas that can be accomplished on the go and taste good. "After launching the new product management wants the product to enjoy a long an 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 (Armstrong & Kotler, marketing, pg. 246)." Reaching the success right after a product is launched is easier said than done. While some products take off faster than others what i expect of my product is to be steady. I don't expect the first edition to sell forever but it will be available to purchase at all times. After the launch of my first cookbook I think the hard work and effort will pay off and strengthen the reputation and development of Chelz Productions. The course of a product's sales and profits over its lifetime is what is known as the product life cycle. I've interpreted the product life cycle strategies into my marketing plan to stay organized and understand how to evaluate the cookbook. Knowing where my product stands can strengthen my chances of lengthening my success. Obviously product development is the first stage in the product life cycle and is then followed by introduction, growth, maturity, and a decline stage. All products don't follow these exact stages which leads those products to die quickly. The product life cycle definitely outlines my plans of my products progress.
Building customer value
"The fundamental asset underlying brand equity is customer equity- the value of the customer relationships that the brand creates, A powerful brand is important but what it really represents is a profitable set of loyal customers (Armstrong & Kotler, marketing, pg. 212)."
Decisions can be challenging while building a brand, the most valuable part of success is the loyal customers. Satisfying customers creates trust and awareness which allows loyalty to be built. I'm going to focus on what improvements i can achieve to strengthen the brand, and products to build stronger relationships with customers and deliver excellent customer value. A brand is just a name, adding characteristics such as differentiation, relevance, and knowledge deepens the equity. What builds equity with customers is mind share it should be cared about. Great service and benefits prop up the quality to succeed and it also connects customers with the product in a deep way. "Today customers come to know a brand through a wide range of contacts and touch points, these include advertising but also personal experience with the brand, word of mouth, company web pages, and many others. (Armstrong & Kotler, marketing, pg. 219)." The personal experience of bonding with a product is now beginning to grow on customers. Carefully managing the cookbook and spreading awareness of what exactly it is that I'm offering is what I set out to do. While recognition and advertising are important I don't want the product I'm preparing to be played over and over on the air or on television. I want customers to find my cookbook and explore it on a personal level so they will admire and experience it for themselves. The fun recipes and information will capture their minds and influence the purchase for themselves or as a gift. Advertising will be accomplished of course but not lashed out to drown the customers. Having a wide range of contacts will make a big difference and Will help my cookbook out dramatically!
Decisions can be challenging while building a brand, the most valuable part of success is the loyal customers. Satisfying customers creates trust and awareness which allows loyalty to be built. I'm going to focus on what improvements i can achieve to strengthen the brand, and products to build stronger relationships with customers and deliver excellent customer value. A brand is just a name, adding characteristics such as differentiation, relevance, and knowledge deepens the equity. What builds equity with customers is mind share it should be cared about. Great service and benefits prop up the quality to succeed and it also connects customers with the product in a deep way. "Today customers come to know a brand through a wide range of contacts and touch points, these include advertising but also personal experience with the brand, word of mouth, company web pages, and many others. (Armstrong & Kotler, marketing, pg. 219)." The personal experience of bonding with a product is now beginning to grow on customers. Carefully managing the cookbook and spreading awareness of what exactly it is that I'm offering is what I set out to do. While recognition and advertising are important I don't want the product I'm preparing to be played over and over on the air or on television. I want customers to find my cookbook and explore it on a personal level so they will admire and experience it for themselves. The fun recipes and information will capture their minds and influence the purchase for themselves or as a gift. Advertising will be accomplished of course but not lashed out to drown the customers. Having a wide range of contacts will make a big difference and Will help my cookbook out dramatically!
Tuesday, December 9, 2008
Creating value for target customers
“Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs (Armstrong & Kotler, marketing, pg.167)
This is the next step in my marketing plan for the cookbook, it is designing a customer driven marketing strategy. Starting with the customers to serve, identifying these customers requires the use of segmentation and targeting. Segmentation divides into smaller segments. Targeting is the process of then focusing on the different points of segmentation. Deciding on a value proposition involves differentiation and positioning. Differentiation is the piece of my marketing plan that allows me to create superior customer value and deliver satisfaction that is expected. “After evaluating different segments, the company must now decide which and how many segments it will target (Armstrong & Kotler, marketing, pg. 177).” Differentiated marketing is the strategy in which a firm decides to target several market segments and designs separate offers for each. I want to offer my cookbook to more than one market therefore segmented marketing fits into the plans and final decisions of my product. Offering the product to a variety of different segments will help the performance of the sales and strengthen the reputation of the cookbook. Although using differentiated marketing will increase the cost of my business. After results of the products status if the differentiated marketing strategy isn’t so successful I plan to focus on undifferentiated marketing which goes after one market and agrees with one offer.
This is the next step in my marketing plan for the cookbook, it is designing a customer driven marketing strategy. Starting with the customers to serve, identifying these customers requires the use of segmentation and targeting. Segmentation divides into smaller segments. Targeting is the process of then focusing on the different points of segmentation. Deciding on a value proposition involves differentiation and positioning. Differentiation is the piece of my marketing plan that allows me to create superior customer value and deliver satisfaction that is expected. “After evaluating different segments, the company must now decide which and how many segments it will target (Armstrong & Kotler, marketing, pg. 177).” Differentiated marketing is the strategy in which a firm decides to target several market segments and designs separate offers for each. I want to offer my cookbook to more than one market therefore segmented marketing fits into the plans and final decisions of my product. Offering the product to a variety of different segments will help the performance of the sales and strengthen the reputation of the cookbook. Although using differentiated marketing will increase the cost of my business. After results of the products status if the differentiated marketing strategy isn’t so successful I plan to focus on undifferentiated marketing which goes after one market and agrees with one offer.
Comments i've posted so far
(David Rosales- GoGoGo Entertainment)
Chelz Productions said...
"More importantly, as a part of a company's overall value proposition, price plays a key role in creating customer value and building customer relationships (Armstrong & Kotler, marketing, pg. 259)Pricing is very valuable to customers, if it is too high it can chase people away but if value and service is added it can change the situation and make a product very much worth it. Focusing on your cookbook and adding a soundtrack will increase the customers perception of value. While pricing an item too low leaves no room to make profit. The price is one of the most important elements to be evaluated and analyzed. It pertains to all products and it is something we all have to look at in marketing.
December 5, 2008 3:10 PM
(Rachel Alviar- Stylista Forever)
Chelz Productions said...
“The strategic plan defines the company’s overall mission and objectives (Kotler, pg 47).”Managing a customer-driven market also includes the plan of the marketing strategy which is the logic by which the business unit hopes to create customer value and achieve profitable customer relationships. The company’s target and decide who they will sell their products to and continue to develop new ways to achieve these types of relationships. Creating and building profitable relationships will satisfy the customer and launch the success of “A Couture Candle Lit Dinner!”
December 9, 2008 12:47 PM
Chelz Productions said...
"More importantly, as a part of a company's overall value proposition, price plays a key role in creating customer value and building customer relationships (Armstrong & Kotler, marketing, pg. 259)Pricing is very valuable to customers, if it is too high it can chase people away but if value and service is added it can change the situation and make a product very much worth it. Focusing on your cookbook and adding a soundtrack will increase the customers perception of value. While pricing an item too low leaves no room to make profit. The price is one of the most important elements to be evaluated and analyzed. It pertains to all products and it is something we all have to look at in marketing.
December 5, 2008 3:10 PM
(Rachel Alviar- Stylista Forever)
Chelz Productions said...
“The strategic plan defines the company’s overall mission and objectives (Kotler, pg 47).”Managing a customer-driven market also includes the plan of the marketing strategy which is the logic by which the business unit hopes to create customer value and achieve profitable customer relationships. The company’s target and decide who they will sell their products to and continue to develop new ways to achieve these types of relationships. Creating and building profitable relationships will satisfy the customer and launch the success of “A Couture Candle Lit Dinner!”
December 9, 2008 12:47 PM
Understanding consumer and business buyer behavior
"Buying decisions are made at an unconscious level, and consumers don't generally give very reliable answers if you simply ask them 'why did you buy this' (Armstrong & Kotler)?"
Beginning to understand why people buy certain items can be a challenge. Choosing to start with the model of buyer behavior breaks down and figures out what is in the buyer's black box. They buyer's black box is the buyer's characteristics and their decision process. The marketing stimuli of the buyer behavior includes the four P's; product, price, place, and promotion. Other factors included are economic, technological, social, and cultural. These factors influence buyers and have a strong affect of making certain buying decisions. Buying decisions are made at an unconscious level, because most purchases are wants or desires. Included in my marketing plan are the four P's understanding the consumer and buying behavior evaluates what I need to add to my product or eliminate. "My Ghetto Cookbook" has a personality of its own, gibing life to my product will capture and bond at an emotional level to capture buying behavior. "Consumer buyer behavior is influenced by four key sets of buyer characteristics: cultural, social, personal, and psychological, understanding these factors can help marketers to identify interested buyers anad to shape products and appeals to serve consumer needs better (Armstrong & Kotler, marketing, pg. 161)." The factors that influence consumer behavior are included in my marketing plan of the cookbook as well. While culture is the most basic cause of a person's wants and behaviors, social life also structures the behaviors and decisions of people. The factor which influences people by occupation, or lifestyle is the personal factor of consumer behavior. A person's buying choices are further influenced at a psychological level as well. Motivation, perception, learining, beliefs and attitudes support they psychological factor. These influences pertain to "My Ghetto Cookbook" because they affect the buyers and inform me on how consumers make buying decisions.
Beginning to understand why people buy certain items can be a challenge. Choosing to start with the model of buyer behavior breaks down and figures out what is in the buyer's black box. They buyer's black box is the buyer's characteristics and their decision process. The marketing stimuli of the buyer behavior includes the four P's; product, price, place, and promotion. Other factors included are economic, technological, social, and cultural. These factors influence buyers and have a strong affect of making certain buying decisions. Buying decisions are made at an unconscious level, because most purchases are wants or desires. Included in my marketing plan are the four P's understanding the consumer and buying behavior evaluates what I need to add to my product or eliminate. "My Ghetto Cookbook" has a personality of its own, gibing life to my product will capture and bond at an emotional level to capture buying behavior. "Consumer buyer behavior is influenced by four key sets of buyer characteristics: cultural, social, personal, and psychological, understanding these factors can help marketers to identify interested buyers anad to shape products and appeals to serve consumer needs better (Armstrong & Kotler, marketing, pg. 161)." The factors that influence consumer behavior are included in my marketing plan of the cookbook as well. While culture is the most basic cause of a person's wants and behaviors, social life also structures the behaviors and decisions of people. The factor which influences people by occupation, or lifestyle is the personal factor of consumer behavior. A person's buying choices are further influenced at a psychological level as well. Motivation, perception, learining, beliefs and attitudes support they psychological factor. These influences pertain to "My Ghetto Cookbook" because they affect the buyers and inform me on how consumers make buying decisions.
Monday, December 8, 2008
Managing marketing information to gain customer insights
"In today's hyper competitive world, the race for competitive advantage is really a race for a customer and market insights (Armstrong & Kotler, marketing, pg. 96)."
customer insights are fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships. It can be difficult to obtain the insights of both relationships and customer value. Collecting and using a variety of data is essential for my product so that I can determine what it is the consumer needs. Understanding the customers and what it is they need will help to improve the customers experience. While applying the data of what is needed, for example variety is enjoyed so in my cookbook recipes variety will be added to connect the customers emotionally to my product. The Cookbook will bring much delight to those of all ages. With customer insight the Cookbook that I'm introducing will be organized concept wise and self explanatory. "In addition to marketing intelligence information about general consumer, competitor, and marketplace happenings, marketers often need formal studies that provide customer and market insights for specific marketing situations and decisions (Armstrong & Kotler, marketing, pg. 101)." Marketing research calls for me to define and resarch my objectives as well as any problems I may be experiencing. It is important for my product to collect the information needed in order to develop a plan. After I've collected my data it is essential in the marketing research plan to analyze and study the findings and then taking the results and adding them to my cookbook plan. Examining all situations will give me a headstart on understanding my marketplace as well as consumers HOLLA!
customer insights are fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships. It can be difficult to obtain the insights of both relationships and customer value. Collecting and using a variety of data is essential for my product so that I can determine what it is the consumer needs. Understanding the customers and what it is they need will help to improve the customers experience. While applying the data of what is needed, for example variety is enjoyed so in my cookbook recipes variety will be added to connect the customers emotionally to my product. The Cookbook will bring much delight to those of all ages. With customer insight the Cookbook that I'm introducing will be organized concept wise and self explanatory. "In addition to marketing intelligence information about general consumer, competitor, and marketplace happenings, marketers often need formal studies that provide customer and market insights for specific marketing situations and decisions (Armstrong & Kotler, marketing, pg. 101)." Marketing research calls for me to define and resarch my objectives as well as any problems I may be experiencing. It is important for my product to collect the information needed in order to develop a plan. After I've collected my data it is essential in the marketing research plan to analyze and study the findings and then taking the results and adding them to my cookbook plan. Examining all situations will give me a headstart on understanding my marketplace as well as consumers HOLLA!
Analyzing the marketing environment
"Marketing management's job is to build relationships with customers by creating customer value and satisfaction (Armstrong & Kotler, marketing, pg. 65)."
The main focus that I'm relating to my cookbook is creating value. In order to obtain value and loyalty "My Ghetto Cookbook" must delight the customers. Working with a team is essential while building customer relationships is important so are other company departments. The company departments are included in the company's micro environment beginning with the company there are also the suppliers, marketing intermediaries, customers, competitors, and publics. The company must work together and think of the consumer in order to provide superior customer value. Suppliers are important to the company because they also add on to the value. The suppliers are treated as partners because they participate in delivering customer value and satisfaction. Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers. They will help my product by promoting the cookbook and getting buyers to consider it. There isn't a single marketing strategy that is best for the company I've created but focusing on a variety of marketing subjects can help to make a product and customer connect emotionally. "There are three kinds of companies: those who make things happen, those who watch things happen, and those who wonder what's happened (Armstrong & Kotler, marketing, pg. 89)." My company will be aware of the environment while adding variety to my cookbook I will react and adapt to effectively make any changes or improvements needed. Analyzing the importance of avoiding threats, I look forward to taking action and making change if needed to run what I'm creating successfully.
The main focus that I'm relating to my cookbook is creating value. In order to obtain value and loyalty "My Ghetto Cookbook" must delight the customers. Working with a team is essential while building customer relationships is important so are other company departments. The company departments are included in the company's micro environment beginning with the company there are also the suppliers, marketing intermediaries, customers, competitors, and publics. The company must work together and think of the consumer in order to provide superior customer value. Suppliers are important to the company because they also add on to the value. The suppliers are treated as partners because they participate in delivering customer value and satisfaction. Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers. They will help my product by promoting the cookbook and getting buyers to consider it. There isn't a single marketing strategy that is best for the company I've created but focusing on a variety of marketing subjects can help to make a product and customer connect emotionally. "There are three kinds of companies: those who make things happen, those who watch things happen, and those who wonder what's happened (Armstrong & Kotler, marketing, pg. 89)." My company will be aware of the environment while adding variety to my cookbook I will react and adapt to effectively make any changes or improvements needed. Analyzing the importance of avoiding threats, I look forward to taking action and making change if needed to run what I'm creating successfully.
Friday, December 5, 2008
Researched Quotes
"Authentic marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customers, profits to the producers and benefits for the stakeholders." - Phillip Kotler(http://www.museummarketingtips.com/quotes/quotes_ac.html)
"Marketing is not an event, but a process... It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely. " - Jay Conrad Levinson
(http://www.museummarketingtips.com/quotes/quotes_ac.html)
"If you think advertising doesn't work, consider the millions of Americans that now think yogurt tastes good." -Joe L. Whitley
(http://www.museummarketingtips.com/quotes/quotes_ac.html)
"Marketing is not an event, but a process... It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely. " - Jay Conrad Levinson
(http://www.museummarketingtips.com/quotes/quotes_ac.html)
"If you think advertising doesn't work, consider the millions of Americans that now think yogurt tastes good." -Joe L. Whitley
(http://www.museummarketingtips.com/quotes/quotes_ac.html)
Strategies for success!
"Companies need growth if they are to compete more effectively, satisfy their stakeholders, and attract top talent (Armstrong & Kotler, marketing, pg. 42)."
Seeking opportunities and applying strategies to effectively welcome growth will support "My Ghetto Cookbook" on many different levels. The product/market expansion grid will help identify the growth opportunities that will fulfill the goals and market for my product. The grid focuses on four points which are as follows market penetration, product development, market development, and diversification. Basically it takes a look at existing markets and products, and new markets and products. Market development focuses on my current product this leads to identifying new markets where my product can introduce and expand itself. I would then want to consider product development after "My Ghetto Cookbook" gets the support needed, it will develop stepping stones to produce and look into other possibilities for the future. Diversification, the last strategy of growth I will discuss is involving other businesses and markets outside of the company to participate in current products. Involving a mixture of diverse items into a product will capture each different customer in their own emotional way. The benefit of different products shows there is something available for everyone. Although companies need growth as the environment changes downsizing in the company or product line may come into affect if abandoning a product, or recipe is necessary it will be considered. "In addition to being good at the marketing in marketing management, companies also need to pay attention to the management (Armstrong & Kotler, marketing, pg. 52)." Evaluating and improving the plans that are being made is essential for turning those plans into action. Focusing on all areas and taking action while making adjustments will boost the excitement of my cookbook helping me to accomplish the arrangements of success! Analyzing and planning while including SWOT analysis evaluates my plan into four categories. Internally by strengths which guides me to reach objectives also defining weaknesses which can set limitations and make it difficult to overcome objectives. Externally will evaluate the opportunities that can be taken to my advantage, and threats that will challenge the situation but being aware of the negative side of things will lead me to focus on the strengths and opportunities.
Seeking opportunities and applying strategies to effectively welcome growth will support "My Ghetto Cookbook" on many different levels. The product/market expansion grid will help identify the growth opportunities that will fulfill the goals and market for my product. The grid focuses on four points which are as follows market penetration, product development, market development, and diversification. Basically it takes a look at existing markets and products, and new markets and products. Market development focuses on my current product this leads to identifying new markets where my product can introduce and expand itself. I would then want to consider product development after "My Ghetto Cookbook" gets the support needed, it will develop stepping stones to produce and look into other possibilities for the future. Diversification, the last strategy of growth I will discuss is involving other businesses and markets outside of the company to participate in current products. Involving a mixture of diverse items into a product will capture each different customer in their own emotional way. The benefit of different products shows there is something available for everyone. Although companies need growth as the environment changes downsizing in the company or product line may come into affect if abandoning a product, or recipe is necessary it will be considered. "In addition to being good at the marketing in marketing management, companies also need to pay attention to the management (Armstrong & Kotler, marketing, pg. 52)." Evaluating and improving the plans that are being made is essential for turning those plans into action. Focusing on all areas and taking action while making adjustments will boost the excitement of my cookbook helping me to accomplish the arrangements of success! Analyzing and planning while including SWOT analysis evaluates my plan into four categories. Internally by strengths which guides me to reach objectives also defining weaknesses which can set limitations and make it difficult to overcome objectives. Externally will evaluate the opportunities that can be taken to my advantage, and threats that will challenge the situation but being aware of the negative side of things will lead me to focus on the strengths and opportunities.
Wednesday, December 3, 2008
Creating and capturing customer value
"Today marketing must be understood not in the old sense of marketing a sale - telling and selling- but in new sense of satisfying customer needs (Armstrong & Kotler marketing, pg. 6)."
Marketing defines itself as the activity set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. Understanding the needs of customers and delivering superior customer value can help the product that is being developed. Taking a look at the bigger picture and focusing on what can be improved will help to overcome the goals that are being set. Selling and advertising aren't the only things that are viewed upon the marketing process, my job is to create value for the customers and to build customer relationships. Following the simple process from the model of marketing helps to understand the environment or place you are in and the customers needs, and wants. Designing a plan and delivering what is expected allows and informs others that there is an emotional bond where what they needs actually matters. Building profitable relationships will help you deliver the customer with happiness, delight and great satisfaction. While dedicating yourself and your product to these types of categories captures value from the customers therefore it is a creative and successful process. When customer quality is given it produces profits and value from the customers. Obtaining the loyalty builds trust and support in other items you may develop and produce later. "Throughout the process, marketers practice customer relationship management to create customer satisfaction and delight, in creating customer value and relationships, however the company cannot go it alone(Armstrong & Kotler marketing, pg. 29)." Marketing partners play an important role in the process. Working with partners from different companies and departments brings greater value to the customers. "Marketing is far too important to be left only to the marketing department (Armstrong & Kotler marketing, pg. 21)." Working together and receiving feedback while delivering great customer value is what will help develop "My Ghetto Cookbook" success and adding the needs of what it is the consumer really wants is my plan for creating and capturing the customer value needed in the marketing perspective.
Marketing defines itself as the activity set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. Understanding the needs of customers and delivering superior customer value can help the product that is being developed. Taking a look at the bigger picture and focusing on what can be improved will help to overcome the goals that are being set. Selling and advertising aren't the only things that are viewed upon the marketing process, my job is to create value for the customers and to build customer relationships. Following the simple process from the model of marketing helps to understand the environment or place you are in and the customers needs, and wants. Designing a plan and delivering what is expected allows and informs others that there is an emotional bond where what they needs actually matters. Building profitable relationships will help you deliver the customer with happiness, delight and great satisfaction. While dedicating yourself and your product to these types of categories captures value from the customers therefore it is a creative and successful process. When customer quality is given it produces profits and value from the customers. Obtaining the loyalty builds trust and support in other items you may develop and produce later. "Throughout the process, marketers practice customer relationship management to create customer satisfaction and delight, in creating customer value and relationships, however the company cannot go it alone(Armstrong & Kotler marketing, pg. 29)." Marketing partners play an important role in the process. Working with partners from different companies and departments brings greater value to the customers. "Marketing is far too important to be left only to the marketing department (Armstrong & Kotler marketing, pg. 21)." Working together and receiving feedback while delivering great customer value is what will help develop "My Ghetto Cookbook" success and adding the needs of what it is the consumer really wants is my plan for creating and capturing the customer value needed in the marketing perspective.
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