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