Final Project: Website

My presentation for the Final Project for our marketing class can be found HERE.

EOC Week 10: What Channels are you going to do to get your product noticed?

Social Media, magazine advertisements and TV commercials!!

Week 9 EOC: 3 Great Mission Statements

Marketing: An Introduction states “A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment”.  (Marketing: An Introduction, Armstrong & Kolter, Pg. 39) In a marketing sense, a mission statement defines a goal, whether it be for the company or the product it intends to put on the market. Our End of Class (EOC) assignment was to read through our classmates’ mission statements and pick 3 that were the best. After reading through all the mission statements posted, I found three that stood out among the others.

Mike Kononchik is promoting Clean and Clear Facial Wash. His statement is "We are going to use the power that woman have over men to show them that by washing their face woman will attract to them more than a man with a dirty face.  A dirty face will become a thing of the past for men. Women will be a lot happier that they can share their facial wash with their man". In his statement, he states that with his product, a dirty face is a thing of the past and that using this project will attract women more.

Raymond Otero, whose product is Pitch Air Freshener, says, “The product represents a change in the way men are depicted by the opposite sex as well as each other. The product is concerned with a global consciousness of men being taken more seriously with their concern of the environment around them. The product is not an aerosol item that could hurt our environment, and strives to be safe and effective it its use. Our hope is to create a pleasant immediate environment for the user in his home, office, automobile, or any other place that requires the air to be freshened, while still maintaining an environmentally friendly way to achieve this.”

This statement says that not only will it change the way men are looked at, but it is also friendly to our environment.

Tharindu Wijesekara, whose product is Yoplait Greek Yogurt says, "We are the ultimate source of  taste, health, and strength". While it's short, it's to the point!

Final Project: Implementation Evaluation Control

Marketing information systems (MIS) according to Armstrong & Kolter, “consists of people and procedures for assessing Market information needs , developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights” (Marketing: An Introduction, Armstrong & Kolter, Pg. 102). They also go on to say that managing the marketing process requires the “four management functions”: analysis, planning, implementation, and control. They say that the “company first develops company wide strategic plans and then translates them into marketing and other plans for each division, product and brand. Through implementation, the company turns the plans into actions, Control consists of measuring and evaluation the results of marketing activities and taking corrective action where needed. Finally, marketing analysis provides information and evaluations needed for all of the other marketing activities." (Marketing: An Introduction, Armstrong & Kolter, Pg. 102)

The implementation of the marketing plan has to look at each of the steps carefully. It’s like a balancing act. You need to find out who the target group of the product is and how to get their attention to buy your product. The SWOT analysis is also helpful in doing the research needed to figure out what strengths, weaknesses, opportunities and threats could come your way. Figuring out the price and distribution by checking out the competition will also help the company figure out the company can charge what they can to make money. Wegner has had a business model that has worked for well over a century. They analyze what’s needed on their products and make them better. They plan for other improvements they make and implement them. They control where their product goes as to keep the feel of the quality of the product high. With their entire business model and their adaptability to the modern business world, Wegner will be around for many more years to come.

Week 8 EOC: 3 Products That Won't Hit the Shelves

There are just some products that shouldn’t be made, especially by certain companies. Ketchup made by Welch’s , the same makers of Jams and Jellies just wouldn’t fly with the public. Is it because their branding is too strong? More than likely. People jus t tend to associate the brand with what they are familiar with. Here are some ideas I thought of when it comes to brand names trying to get different products out on the market

• A compact car made by Humvee. When you think of Humvee, you think of the big half-ton gas guzzlers. A compact car made by the same people who brought you that would bring one big question to mind: would this car actually save gas? It might be stylish like the Hummer and have some great features, but with the high gas prices and terrible economy, I don’t see this car getting many looks.
•  Toothpaste by the same guys who made Preparation H. Now when you think of toothpaste, you think of clean teeth and fresh breath and when you think of Preparation H, you think of something that’s supposed to help give you relief to your underside. Now trying to think of these two together just wouldn’t leave someone with a pleasant thought.
• Facial Cream by Tiger Balm. Facial creams are made to help moisturize the skin and with skin care while tiger Balm is a medicated heat rub used to help with muscular pains, nasal congestion, heart burn and other ailments. When rubbed on skin, tiger balm heats up, and depending on the type of balm you use, it can feel extremely hot. Thinking about a facial cream with heat properties might sound painful, especially if it gets in your eyes or mouth.

Final Project: Marketing Mix - Price

According to Armstrong and Kolter, “price is the amount of money charged for a product or service” or  “price is the sum of all values that customers give up in order to gain the benefits of having or using a product or service” (Marketing: An Introduction, Armstrong & Kolter, Pg. 275). They go on to say that historically, “price has been the major factor affecting buyer choice. In recent decades, nonprice factors have gained increasing importance. However, price still remains one of the most important elements determining a firm’s market share and profitability” (Marketing: An Introduction, Armstrong & Kolter, Pg. 275).

 Wegner, best known for creating quality products with Swiss craftsmanship. While the standard backpack will go anywhere from $15 to $25, it doesn’t address the concerns for carrying a laptop. Most backpacks in that price range are made with thin polyester, the zippers break, the backpacks are small and aren’t waterproof. A lot of laptop backpacks have foam protection for the laptop compartment, but many aren’t thick enough to absorb the shock from a drop or fall. Wegner’s backpacks address these problems. Made with strong polyester and vinyl material, the “Ibex” has a zipper strong enough to withstand the constant use and durable as they can hold the maximum capacity of the backpack. There are several compartments to help keep your items organized and the laptop compartment is heavily padded and shock absorbent. Add to it the waterproof material to keep your items dry and the craftsmanship shines. With quality like this, $60 USD will be well worth the cost.

Final Project: Marketing Strategy - Promotion

Promoting a product is very important in the process of getting the product sold. If people don’t know a product exist, how are they going to realize that they need it? That’s where promotion comes into play. According to Armstrong & Kolter, retailers use “ any or all of the promotion tools—advertising, personal selling, sales promotion, public relations, and direct marketing—to reach consumers”. (Marketing: An Introduction, Armstrong & Kolter, Pg. 358) Advertising can be done in newspapers, magazines, radio, catalogs, newspaper inserts and direct mail although the best advertising I feel can be done not only on the television, but the internet. Sales promotions like in-store demonstrations, contests and visiting celebrities helps promoting some products, but as far as the Wegner “Ibex” Laptop Computer Backpack, except for the displays, those ways of promoting the product would be unnecessary. However, there is a more “modern” route that Armstrong & Kolter mention and that’s through public relations. “Public relations activities, such as press conferences and speeches, store openings, special events, newsletters, magazines, and public service activities,” they say, “are always available to retailers.” They go on to say “most retailers have also set up Web sites, offering customers information and other features and selling merchandise directly” (Marketing: An Introduction, Armstrong & Kolter, Pg. 358)”


Promoting the Wegner “Ibex” Laptop Computer Backpack can be done though traditional means, like magazine and television ads, and also though advertising on their website. The use of social media has helped a lot of companies with not only marketing, but keeping in touch with their customers. This kind of media interaction could boost up their sales. Before buying a product, many people do research by going to stores or comparing the products on the internet. Many customers leave feedback if they have purchased the product for others to read. Plus the fact that if a company tweets, facebooks, or even answers questions directed to them, the public will feel like they’re doing what they can to listen to the consumer. Word of mouth and online media/websites, are powerful tools in the modern age.

Final Project: Marketing Strategy - Distribution

In order to get your product to the public, the company must consider certain economic criteria before picking distributors to sell your product. The book Marketing: An Introduction says to consider the following:


“Using economic criteria, a company compares the likely sales, costs, and profitability of different channel alternatives. What will be the investment required by each channel alternative, and what returns will result? The company must also consider control issues. Using intermediaries usually means giving them some control over the marketing of the product, and some intermediaries take more control than others. Other things being equal, the company prefers to keep as much control as possible. Finally, the company must apply adaptability criteria. Channels often involve long-term commitments, yet the company wants to keep the channel flexible so that it can adapt to environmental changes. Thus, to be considered, a channel involving long-term commitments should be greatly superior on economic and control grounds.” (Marketing: An Introduction, Armstrong & Kolter, Pg. 325)


Also, companies must also determine the number of channel members to use at each level. Armstrong & Kolter believe there are three strategies are available: “intensive distribution, exclusive distribution, and selective distribution” (Marketing: An Introduction, Armstrong & Kolter, Pg. 323). Wegner prides itself on creating quality products with superb craftsmanship. Because the laptop computer backpack is designed to hold computer laptops, Wegner first plans to distribute it to the major electronics outlets such has Frys and Best Buy and office supplies outlets such as Office Deopt, Office Max and Staples. Since people relate laptops to these stores, retailers can recommend that they purchase a Wegner “Ibex” backpack to keep their new purchase safe. Outlets like these can distribute the product on a long term basis even though control of the sales will be in the hands of the stores themselves. Online distribution of the product through Wegner’s online store is also key since people from all over the world can view their site. As other stores are able to sell the product on line, the “Ibex” backpack can be shipped all over the world. 

Final Project: Marketing Mix - Product

Marketing: An Introduction defines a product as “anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need". (Marketing: An Introduction, Armstrong & Kolter, Pg. 209). Where once, people followed the saying “you get what you pay for”, with the economy in its current state, the money-conscious consumer is looking for great quality at a low price. It’s because of this, the modern consumer research products they’re interested in purchasing so they don’t waste time or money.  

Wegner, the maker of the Swiss Army Knife and Swiss Watches, was tasked with creating a laptop computer backpack for bigger laptops that could not only compete with other the companies such as Treager and Case Logic, but one that would also be good enough to carry on the Wegner tradition of quality craftsmanship. In creating a good quality product, they would also have to look at its life cycle. The authors of Marketing: An Introduction sees to challenges that a firm would have to face. Because all products eventually “decline” they believe that a company “must be good at developing new products to replace aging ones (the challenge of new-product development)”.  They also believe that they “must be good at adapting its marketing strategies in the face of changing tastes, technologies, and competition as products pass through life-cycle stages” (Marketing: An Introduction, Armstrong & Kolter, Pg. 244). Wegner has put out other backpacks to accommodate the smaller laptop sizes, but for the larger 17” backpacks, they created the “Ibex” laptop computer backpack.

The “Ibex” computer backpack is a functional and portable backpack made of polyester that allows you to carry your laptop and other items in a stylish container. The main pouch that carries most 17 inch laptops has air-flow padding and strengthened material on the bottom of the backpack to prevent water damage, scratches, and to help absorb the shock from drop damage. The laptop compartment is 15” wide, 10” depth, and 19” height. It has a quick pocket with a removable accessory pouch to carry smaller items.

Features:

• Fits Most 17 Notebooks
• Comp-u-Flex Computer Pocket
• Air-Flow Back Padding
• Shock Absorbing Shoulder Straps
• Quick pocket
• iPod/MP3 Player Pocket
• Essentials Organizer
• Removable Accessory Pouch
• Case Base stabilizer platform
• Adjustable Chest Strap
• Limited Lifetime Warranty

**Features are listed from the Beach Camera Website.

Final Project: Marketing Strategy - Target Market Strategy

In designing a successful market strategy, Marketing: An Introduction believes "the marketing manager must answer two important questions: What customers will we serve (what's our target market)? and How can we serve these customers best (what's our value proposition)?" (Marketing: An Introduction, Armstrong & Kolter, Pg. 11) They must also see the marketing strategy as consisting of "specific strategies for target markets, positioning, the marketing mix, and marketing expenditure levels. “  They believe that it “outlines how the company tends to create value for target customers in order to capture value in return.” (Marketing: An Introduction, Armstrong & Kolter, Pg. 33)

For marketing the Wegner "Ibex" Laptop Computer Backpack, the first question can be answered by looking at the target demographic and psychographic.  Demographics are “the most popular bases for segmenting customer groups” and they are considered easier to measure. They are also important because “consumer needs, wants and usage rates often vary closely with demographic variables.”  (Marketing: An Introduction & Kolter, Armstrong, Pg. 33) The psychographic element looks at “different segments based on social class, lifestyle, or personality characteristics”. (Marketing: An Introduction, Armstrong & Kolter, Pg. 11) While people might be in the same demographic, they could have a completely different psychographic makeup.   

The second question could be answered by looking at the product itself. The Wegner “Ibex” laptop Computer Backpack is geared for the man on the run. He’s looking for something sturdy and reliable to carry his things. Whether its books, files, shoes or clothes, it needs to get from point A to point B without breaking. The pockets in the backpack are there to help keep his stuff organized so he can find things easier. The pouch for the laptop is made to carry 17” wide computers and is padded for its protection. It’s a great product, worthy of carrying the Wegner name.  

So in developing the marketing strategy, the answers to the two questions posed above need to be brought together. The Wegner backpack is geared towards men between the ages of 18 and 35. While factors like race, income, or location don’t have any bearing on the target group, education and employment status can be looked at since students and businessmen are the specific group that we would be targeting. They should be students or businessmen on the run who travel and need a sturdy backpack to hold and protect items they need to carry. The strategy will involve creating a page on a website that will show the consumer the features of this backpack and will also show its possible uses. An advertisement done in either After Effects or Photoshop will be the main part of the site. What better place to advertise for a laptop backpack than on the internet?

Whether it’ll be a young man going to school, or a business man travelling to meet up with a client, the Wegner “Ibex” Laptop Computer Backpack will make sure your laptop and everything else you need will get there safe.

Final Project: Situation or SWOT Analysis

A SWOT analysis is a tool used to see where a company is as far as reaching their objectives. SWOT stands for strength (S), weaknesses (W), opportunities (O), and threats (T). In doing this, a company can see what it needs to do to reach their objectives and see what obstacles will keep them from achieving this. Since 1908, Wegner has created quality products with Swiss craftsmanship. In doing a SWOT analysis for the Wegner company, we can assess where it is today and where it could be in the future.

Strengths

• The Wegner name brings tradition and quality that goes back since 1908 after the company was formed after it made its first Swiss Army Knife. Because of the quality of not only their knives, but watches as well, the Wegner name has established itself as creating quality reliable products.
• The branding Wegner has created for itself with this Swiss Cross emblem is recognized worldwide.

Weaknesses

• There are many types or backpacks on the market right now and Wegner must make itself stand out from the rest.
• Currently, there is a lack of advertising for its Wegner backpacks. Right now it seems like the only advertising going for it is through word of mouth.

Opportunities

• Wegner is taking the opportunity to move into the backpack market.
• According to Marketing: An Introduction, online social networks are “online communities where people socialize or exchange information and opinions.” They say that “social networking media range from blogs to social networking Web sites, such as Facebook and YouTube, to entire virtual worlds, such as Second Life and Gaia Online.” (Marketing: An Introduction, Armstrong & Kolter, Pg.  142) They believe that marketers “are working to harness the power of these new social networks to promote their products and build closer customer relationships. Instead of throwing more one-way commercial messages at ad-weary consumers, they hope to use social networks to interact with consumers and become a part of their conversations and lives". (Marketing: An Introduction, Armstrong & Kolter, Pg.  143) Because of their products being advertised by word of mouth, setting up a social media site would help the consumers who like Wegner products not only communicate with each other, but it would also help the company communicate with their customers as well.

Threats

• There is always competitive pricing a company has to deal with when it comes to their products.
• Because of the lack of advertising done for their backpacks, there is always the fear that it won’t do well in this market.

Final Project: Objectives

The target market that Wegner is reaching out to are men who are either students or businessmen. According to Marketing: An Introduction, the U.S. population is not only becoming better educated, but the workforce is becoming more white-collar as well.  The demographics for education say that “in 2007, 84 percent of the U.S. population over age 25 had completed high school and 27 percent had completed college, compared with 69 percent and 17 percent in 1980.” (Marketing: An Introduction, Armstrong & Kolter, Pg. 76) More and more high school graduates enroll in college which increases the demand for “quality products, books, magazines, travel, personal computers, and Internet services”. (Marketing: An Introduction, Armstrong & Kolter, Pg. 76) The workforce has also shown growth being strongest for professional workers and weakest for manufacturing workers.  According to the author of Marketing: An Introduction, “between 2006 and 2016, the number of professional workers is expected to increase 23 percent, while manufacturing workers are expected to decline more than 10 percent". (Marketing: An Introduction, Armstrong & Kolter, Pg. 76). In creating an objective for Wegner Laptop Computer Backpacks, they got to keep this in mind because this is who they want their product to go to.

Wegner has several objectives when it comes to the products that they carry. Their objectives for their products for the customers are:

•  To create a quality, reliable and sturdy backpack that will fit a 17” laptop.
• To create a backpack with a waterproof laptop pouch that will keep your computer dry.
•  To create a backpack with zippers that are easy to use and don’t break easily.
• To create a backpack that is easy to carry (on the shoulders and by the handle), and has a lot of storage space.

As far as the company objectives, Wenger looks for the following:

• To create a backpack comparable/better than their competitors.
• To create a backpack that will continue to show the quality of the products that Wegner has on the market.

Final Project: Business Mission Statement

Business mission statements define the company and are a representation of why it exists. According to the book Marketing: An Introduction, mission statements “should be market oriented and defined in terms of satisfying basic customer needs”.  They should be “meaningful and specific yet motivating” and ”emphasize the company’s strengths in the marketplace”. (Marketing: An Introduction, Armstrong & Kolter, Pg.40) The book also states that "a company's mission should not be stated as making more sales or profits-Profits are only a reward for creating value for customers. Instead, the mission should focus on customers and the customer experience the company seeks to create." (Marketing: An Introduction, Armstrong & Kolter, Pg. 41) While Wenger, the company famous for making the Swiss Army Knife, has a mission statement that shows the company’s strong tradition in bringing quality products to the marketplace. Their mission is to put precision, skill and craftsmanship into their work and to continue to put this reputation into every product they create. It’s their Swiss pride that is your guarantee that every product will live up to this reputation. Peter Hug, CEO of Wenger, believes this to be true of Wenger products saying:

“The Wenger brand empowers adventurers with multi-functional equipment possessing a unique pedigree. We also seek to reflect the more humble attitudes and the true spirit of active dynamic individuals who appreciate the beauty of the great outdoors through human and natural-powered activities”. (http://www.wengerwatches.co.uk/about-wenger)

Wegner Computer Bags are crafted for everyday life and are designed to be innovative, versatile, sports-minded and can be used for home, travel, and outdoor activities. Just like the famous Swiss Army Knives that have made them known world-wide for their quality, their computer backpacks are designed to be multi-purpose and can withstand not only the stress of travelling but also anything else that you go through on a day to day basis. With the work and craftsmanship that goes into every Wenger product, you’ll know that when you use a Wenger computer backpack, you’ll be using a quality product.


**The Wenger name and their products are used for the purpose of this school project. 

Week 7 EOC: Final Project: Pitch

Looking for a reliable backpack that take care of your laptop and other belongings? Do you want a backpack that can handle the wear and tear of your everyday activities? Take a look at the SwissGear backpack! The same company that brought you the Swiss Army Knife created the SwissGear ‘Ibex’ Laptop Computer Backpack. Have you ever had a backpack fall apart because it couldn’t hold all the books you needed to put in there? Ever have to take out your stuff to try and find your laptop for class? Was your last backpack uncomfortable to wear? Well, with the ‘Ibex’ Laptop Computer Backpack by SwissGear, you could avoid all the trouble you had and carry your stuff with style. The ‘Ibex’ has a built in pocket that’s 19” high and 15” wide and is able to carry most 17” laptops and notebook computers as well as keep it separated from the rest of the contents within the backpack. Continuous triple layers foam will also help with shock absorption from being dropped and will protect the computer from damage from all sides. The two zipper front compartment comes with an organizer and has plenty of room for files, documents, books, or anything you want to carry. The two side mesh pockets are ideal for holding water bottles or other bottled drinks and are easily accessible. For your carrying ease, the reinforced ergonomic handle and comfort-fit shoulder straps can be adjusted for your convenience. So whether you’re going to school, travelling, going to the gym, or going hiking, the SwissGear ‘Ibex’ Laptop Computer Backpack will keep the stuff in your bag safe and organized.

*Image and product is used for school purposes - Product can be found at NextdayPC.com

Week 5 EOC: Best & Worst of the 2011 Superbowl Commercials

The past week had one of the biggest advertising days of the year for an event that many consider a holiday, even though it’s not listed officially as one. Superbowl Sunday has been looked at in years past as the one day where companies are willing to spend loads of money to advertise during one of the most watched games of the year. It’s become such a big deal that there are many out there that tend to watch the game, not for the game itself, but for the commercials. While this year didn’t have the standout commercials that the past years have had, there had been a few noteable ones. One of the ones that fans seemed to like the most was done by Volkswagon in a commercial called “The Force”. In this commercial, a kid, who’s face we never get to see, is trying to use the force to move objects. Being a Star Wars fan, this commercial brought me back to my childhood. I’ve always wanted to do something like that. In trying to use the force, he tries over and over again to make it work, but fails, till his father gets home with the car. With the help of his father, he manages to make the car beep. This commercial was likable and funny and I felt was the best.

 

The worst of the 2011 Superbowl commercials had to have been the GoDaddy commercial called “The Contract”. GoDaddy has always had commercials that have tried to sell based on sex appeal, which has nothing to really do with websites and domains. They seem to be cheesy and really make no sense. If they had made a commercial saying how good the company actually is, their commercials might be more likable.

Week 4 EOC: Business to Business vs. Consumer Marketing

General Electric is a supplier of many products and services to both the consumer and businesses, but as much as advertising as one might see in the various forms of media we see every day, consumer sales only account for less than a third of the company’s profits.  What is the difference?  It could be summed up in one quote:

 “Whereas it might be disappointing when a refrigerator buyer chooses a competing brand, losing a single sale to a large business customer can mean the loss of hundreds of millions of dollars in business.”(Pg. 39, Marketing an Introduction, Armstrong and Kolter )

The company known that started out bringing light to almost every household in the world has opened itself to bigger markets, from entertainment to creating companies such as Boeing the means to transport both people and cargo from point A to point B. While a decision to buy a refrigerator might way on how big it is or how much food it might hold, or even the look or style, companies that buy GE made engines might have to look at things like environmental impact, fuel consumption, reliability, and serviceability. While a buying a GE made microwave, dishwasher, washer and dryer, and refrigerator might seem like a lot of money for us to spend, contracts for Boeing to buy 20 engines to fit on 5 747’s would be worth more money than we could even imagine having.

Why does GE do really well in its business sales? It’s because GE develops a working relationship with its customers. While there are many consumer products that might fall in to our needs, GE works with the business customer to make sure their products will fit their special needs, like working around international economics and politics in its deal with Kazakhstan National Railway to supply them with 310 Evolution Locomotives.  In working with it customers, in both the business and consumer arenas, it’s no wonder GE has become a household name all over the world.