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.
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