Benefits are qualities that people look for that will enhance their way of living. With benefits will bring out the quality and instile value into the product. What people look for is the benefits. People ask themselves "how is this going to benefit me?" or "how will this benefit me in the near future?"
Features are things like textures and how the chip feels and tastes. Features are things that consumers will experience. If consumers have a bad experience then they will not put value into the product and will eventually spread the word to other future consumers. When someone has a bad experience thats where your network should take into place. Listen to what people are saying about the product and offer ways of changing their next experience.
Wednesday, December 5, 2012
Wednesday, November 28, 2012
Final Project: Mission Statement
Sofrito's mission is to be world's premier product company focused on convenient chips. We seek to produce financial rewards to investors as we provide opportunities for growth. In everthing we do we will strive for success whether its a fundraiser to a new business idea in the works.
Wednesday, November 21, 2012
Week 8 EOC: Creative Content
For my creative content I will be designing my own logo for the product. I think I am going to use a red and yellow color scheme since red makes people hungry and yellow intensifies the red. I want people to look at my product and begin to think about eating my product. Also the yellow will remind them of bananas which is one of my key ingredients for my product. My slogan will be "going bananas for bananas!" Hopefully once they read about my creation story they will understand what the slogan means. The bag will be made from the same materials a Doritos bag is made of. Although the color scheme is close to Doritos our red will be a more distinct red from the Doritos red. There will be a noticeable difference in the bag. We will have a family size bag for super markets such as Walmart and Kmart and single sizes for venues like 7-11 and many other convenience stores. The product will be placed in the chip isle but will be placed away from the Doritos nacho flavor to avoid confusion between the two. This will be pre-arranged with the store venues. The one thing we want to avoid is our customers having to decide which bag to take home. On the back of every bag we will place our contact information so that our customers can give us feedback and a website where they can go to to learn more about our product. There they can sign up for exclusive Newsletter which we will send out to inform our customers about new and exciting information about the product. The newsletter will feature information of upcoming new stuff and how our product has touched the lives of others.
Price
"The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service.(Marketing: An Introduction for Education Management Corporation, Edition 10)
Sofrito chips will be priced according to bag size and will marked at about the same price other chip products are priced at. For example, if a large family size bag of Cheetos are priced at $2.99 then our bag will also be priced at $2.99. We don't intend on short selling our product instead we will match it. what will set us apart will our chips. Consumers will love our chips and will pick our bag from the bunch. Our marketing team will ensure that our consumers are aware of our unique taste of chips. The minute they see our name they will forget about the price and will desire our bag for their snack craving.
“Price; Marketing's Most Delicate "P"” (http://www.forbes.com/sites/keithlevy/2011/11/30/price-marketings-most-delicate-p/) I agree, the price is the toughest to determine. That is why we will be consistent with our competitors. There may be a time when we will do special promotion and price the product differently but that will only be during inflation times.
Distribution
" Indirect distribution involves distributing your product by the use of an intermediary for example a manufacturer selling to a wholesaler and then on to the retailer."(http://www.learnmarketing.net/Place.htm)
In the beginning we will be selling product door to door just to get the word out that we are a new up and coming company and to introduce our chips to the community. We will first start in our home town and then move to neighboring cities. Once we have enough money we will invest in some billboards and television commercials. There will be a lot of ground to cover but we will be determined. One of our greatest tools will be the web. We will have a site where our consumers can subscribe to and will be able to order on line. On line orders will be big orders like a box of 25 bags of the product which is more then what a sales member can carry for one single order. We will also set up booths at every convention we can get into so that we can reach out to more customers and have them sign up to our website on the spot. Through our website we will send out special promotions and locations where we will be located to all of our subscribers. We will encourage subscribers to have their friends and families subscribe for exclusive discounts.
"To truly unlock the power of the internet, we need to make these important and valuable materials freely available online."(http://thinkprogress.org/media/2012/01/09/400848/beyond-sopa-unlocking-the-power-of-the-internet-by-creating-a-digital-library-of-congress/?mobile=nc) Like stated before, the internet will our main tool. Door to door distribution will be the beginning. On line sales is phase two. Once we have a big enough market we will leave the direct distribution and focus on getting our products on the shelves.
In the beginning we will be selling product door to door just to get the word out that we are a new up and coming company and to introduce our chips to the community. We will first start in our home town and then move to neighboring cities. Once we have enough money we will invest in some billboards and television commercials. There will be a lot of ground to cover but we will be determined. One of our greatest tools will be the web. We will have a site where our consumers can subscribe to and will be able to order on line. On line orders will be big orders like a box of 25 bags of the product which is more then what a sales member can carry for one single order. We will also set up booths at every convention we can get into so that we can reach out to more customers and have them sign up to our website on the spot. Through our website we will send out special promotions and locations where we will be located to all of our subscribers. We will encourage subscribers to have their friends and families subscribe for exclusive discounts.
"To truly unlock the power of the internet, we need to make these important and valuable materials freely available online."(http://thinkprogress.org/media/2012/01/09/400848/beyond-sopa-unlocking-the-power-of-the-internet-by-creating-a-digital-library-of-congress/?mobile=nc) Like stated before, the internet will our main tool. Door to door distribution will be the beginning. On line sales is phase two. Once we have a big enough market we will leave the direct distribution and focus on getting our products on the shelves.
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