Creative Content

LAVA CAKE

This is the story of Phileas and Fogg from the Volcanic island land of Santorini. 

EOC: Week 10: what are the benefits vs the features?

EOC: Week 10: what are the benefits vs. the features?

                When creating a new product for the market, you have to think like a consumer a view the possibilities of all angles. The key is to make sure your product is successful, and does not fail when it gets to the market place. A very important thing to do before releasing a new product to the customers is to have the company test it to make sure it works the correct way upon release. Something the company does not want, and many times does not plan for, is if a product hits the market and something goes wrong with it making it a defect. This will call for a market wide recall on the product making consumers wary and wanting to stay away from it all together. The book stated a couple good reasons why or products fail like, oversize, product design problems, in correctively positioned or priced, excessive development cost, competitive reaction, or poor research findings. When I did research for my bar snack food product “Lava Cakes”, I did a lot of research to make sure that this product would attract the buyers and would work in the intended market place. The benefit is that this food give the average bar goer something to snack on while drinking to stay awake and purchasing more drinks, or having some sort of food in the stomach. The cool feature of this product is that it comes along with a story that also gets the bar goer involved with other individuals at the bar to strike up conversation that otherwise might not have happened. When coming up with a new concept for products it’s important to look at the existing market and start idea screening products, or the process used to get and spot good ideas and drop others to stay on top of the competition.

EOC – Mission statements

EOC – Mission statements

Throughout the class many students had very interesting mission statements for their Philelas Fogg alcoholic snack food products. These snack foods were based off of the movie around the world in 80 days, and were made for a slightly older audience, or the market that goes to the bar. Knowing this many students created a very interesting pitch, as well as a mission statement to go along with their products. Abbott, Joaquim http://jquik.blogspot.com/ had a great mission statement that states the brand right in the first sentence. I like the way he explains the unique flavor as well as the journey around the world, and the conversation starting snack for the bar scene. The only thing that Joaquim could have done is used a quote from the book.  Another student that had a pretty good mission statement was Orta, Marty  http://martyortaphotography.blogspot.com/. He went into great detail describing his food with flavor as well as how it will appeal, and attract to the customer. His is also ideal because it doesn’t say or mention the company making money, because that is something the consumer doesn’t need to hear, and something that they really don’t care about. The customer is buying the product based on the taste and quality. Another student whose mission statement I liked was Fite, Kyle  http://kylefite.blogspot.com/ . His mission statement attracts the consumer to go out and purchase the snack with fancy words, as well as describing the taste of the bar snack food. Kyle goes after the fact that it’s a bar food and conveys that smoothly to the buyer. The other great point to this mission statement is that he also describes where and in what locations will the snack be sold in. This main fact is important to get across to the consumer to understand why the consumer would want to buy it, and exactly where they need to go to buy it.

Week 8 EOC: Creative Content

Week 8 EOC: Creative Content

                On the creative content part of this project for Phineas & Fogg I will do several different things to get the product out on the market. Every product goes through many different stages of trial before it gets to the market and the consumer. The first’s stage I will figure out what kind of package the Lava Cake will come in so it will attract the public. For the Lava cake, made out of bread with honey nuts baked inside, I will put it in a see through bag where the bread will stay fresh and will not go stale. I decided to choose a see through bag because the potential customers will; be able to look through the bag and see the freshness of the product, as well as the coloration of the bread to ensure there is no mold on it. The Lava Cake would be priced around the same price as a loaf of bread so it will sell quickly and not sit on the shelf too long. The idea of the product is to get it sold as soon as possible. This item will be sold in grocery stores, in a slightly larger quantity for families, as well as in convince stores like 7-11 and gas station snacks in a smaller go size. For my logo I will draw up a gingerbread cookie man running away from a volcano that resembles hot bread that is fresh and warm to eat. This logo will also relate to the running, or on the go aspect, that Phineas & Fogg had during the movie around the world in 80 days. I will also come up with another logo for the Lava Cake that strictly relates to the food and the story from the movie that will attract people to read the story and capture the movie goers to buy the treat because they liked the movie.

Implementation Evaluation Control

Implementation Evaluation Control

When having control over a buisness you as a busness marketer have to know where both sides stand. You have to know where your company stands such as values, and pricing on products, as well as knowing where the customers stand on what they will purchase, and what they want from the market place. your company should come into the market place with something new, where no other company has bee before to bring something new to the table. The prices should also be fare so the consumer would want to buy your product over the competitors. The business is always changing so the products should also always be changing as well as evolving with the needs and the times. the company should stay on top of the changes and know what to expect from the new things and products. If the company refuses to change there ways or update there products they may loose alot of customers or even worse go out of buisness. When marketing it is very important to attract the customers in, and keep them as a customer. It is important as a buisness to evaluate what works and what will not, to cross out the extra or what is not working, and replace it with wwhat does. By keeping to this statement the company will be sure to keep up with the times.

Price

Price

When putting your product onto the market it is very important to make sure the research has been done in the existing market to prove that the product will sell. If the price is not correct when placed onto the market the product will not sell and it will flop. The price is very important and is the amount of money charged for a product or service. (Armstrong & Kotler (2011) Marketing: An Introduction) When setting the pricing for the Lava Cakes, we here at Phileas Fogg snack foods wanted to make the price fair, but also competitive with other snack companies. The main thing we kept in mind when setting the price is the price is the sum of all of the values that consumers give up in order to gain the benefits of having or using the product or service. (Armstrong & Kotler (2011) Marketing: An Introduction) Based on the market we are in we decided to use competition based pricing where set our prices based on the cost of producing, distributing, and selling the product, Lava Cake, at a fair rate of return. (Armstrong & Kotler (2011) Marketing: An Introduction) We here at Phileas Fogg have to make sure we dominate the current market companies in this field. In this market, where it is tough economic times, it isn’t always the best answer to cut corners to save cost. (Armstrong & Kotler (2011) Marketing: An Introduction) The customers are still looking for quality even more now then ever. We here at the Phileas Fogg snack food company want to sell value, not price. We want the sellers to enjoy our food products, especially the brand new bar snack food, Lava Cake and get involved in the story as well. We don’t just sell a food; we are selling a conversation starter as well as a great snack time!

Distribution

Distribution

Distribution is very important to us here at Phileas Fogg snack foods. After establishing the brand equity, or the many different effects the brand has on the customer response to the product or its marketing. (Armstrong & Kotler (2011) Marketing: An Introduction) We want to relate to the customers, and give them a different experience in bar snack foods that they can enjoy. We are selling a fully developed brand to the market that has not scene something like Lava Cake in the bar scene for a snack food. Our brand has to be carefully developed by brand positioning, brand name selection, brand sponsorship, and brand development. (Armstrong & Kotler (2011) Marketing: An Introduction) After we find out this information we have to make sure our partner company, or who we link up with to get our product on the snack food market follows all of the guide lines, and will not damage the product or what the company stands for, and has worked so hard to achieve. It is very important to bring in the research that we have collected to put into use. This way we can monitor how much Lava cake we sell and what are the big markets. We are here to provide a brand new and unique product for the bar scene where friends can gather around, enjoy a couple of drinks and share stories. We want our food products to be anything that can be offered to the bar market for use and consumption, and would satisfy that want and need. (Armstrong & Kotler (2011) Marketing: An Introduction) We want to put quality into what we are making because the customers value what we are creating and putting out on the market. The distribution and exportation is very important to the company to ensure success in the long run.