Tuesday, June 15, 2010


Business Mission Statement:
The American Dream vodka’s basic proposition is to give those an opportunity to have a memorable taste of the American Dream in an easy way, through a simple sip of a drink. In just a simple sip, there will be a taste that we make sure that cannot be compared to any other vodka, and will be one you will never forget because this is a dream that all have longed for. When they experience the taste, then we know we have made their dream come true.
A mission statement should focus on the market or markets the organization is attempting to serve rather than on the good or service offered. (MKTG;Lamb, Hair, McDaniels; 18) If we know that we have made our buyers satisfied with a sip of the American Dream then we know we have made success. This will give meaning to our business and help to inspire the working lives of our employees. When an organization creates a high level of employee satisfaction, this leads to greater effort, which leads to higher quality goods, which leads to higher growth and profits, which leads to higher stockholder satisfaction, which leads to more investment and so on. (MKTG; Lamb, Hair, McDaniel; 3)

Objective:
In order to successfully launch our new vodka, The American Dream, we will come up with a marketing plan to help organize the launch of the product.
The creation and implementation of a complete marketing plan will allow the organization to succeed. (MKTG; Lamb, Hair, McDaniels;16)
Our objectives are to retain at least 90% of purchasers of our products in 2009 as return customers in 2010. We hope that this customer loyalty will enable us to reach a return on investment of at least 10% that we can reinvest in research and development for future products. We hope to gain at least 2% market share with the addition of our new vodka, The American Dream.
Market share is a company's product sales as a percentage of total sales for that industry. (MKTG;Lamb, Hair, McDaniels;263) We will also strive for ethical responsibility with this particular product line by donating 5% of profits to a charitable non-profit organization. A non-profit organization is an organization that exists to achieve some goal other than the usual business goals of profit, market share, and return on investment. (MKTG; Lamb, Hair, McDaniels;161)

SWOT Analysis:
Strengths:
Our consumer product [
a consumer product is a product that is bought to satisfy an individual's wants. (MKTG; Lamb, Hair, McDaniels;131)] offers a sense of uniqueness by those who choose to experience the taste. It will be produced in limited quantities that are sold only overseas, BUT when sold in the United States, this vodka will be difficult to buy. We will choose selective liquor stores overseas where The American Dream vodka will be sold. Yes we will supply this bottle at a higher end clubs, and lounges. We decided the vodka will be sold only during the U.S. national holidays, at selective liquor stores. We will also work through the strategic alliance [strategic alliance...is a cooperative agreement between business firms-these may take the form of licensing, distribution agreements...and partnerships. (MKTG; Lamb, Hair, McDaniels;86)] that we have set up with throughout the country during our sales in the United States. Our product also offers this uniqueness by being created with all natural ingredients. The taste of our vodka will also seamlessly fit into our consumers current lifestyles, and mood, and we want this because our vodka is one of a kind that all will strive to get, because isn’t The American what most would love to have and live? Lifestyle is a mode of living, as identified by a persons activities, interests, and opinions. (MKTG; Lamb, Hair, McDaniels;76)

Weaknesses:
The weakness of our new product may be the fact that it is in fact a new product. In the economy that we are in consumers are less willing to spend frivolously on new products that they have not tried.
Opportunities:
We also have an opportunity in the fact that our product is new. We can begin a new marketing approach with this product, we will produce small sample of the vodka at the liquor store that will allow the consumer to sample taste our product and let decide on their own whether the flavor fits the tasting likes. This will give them the opportunity to choose to buy a bottle right away or move on if they do not like the vodka.
Sampling can increase sales by as much as 40%, so its no surprise that sampling has increased more than 20% annually in recent years. (MKTG; Lamb, Hair, McDaniels;249) If the vodka is successful in the overseas market then we only hope for the best of having it being just as successful here in the US. When a company decides to enter the global market, exporting is usually the least complicated and least risky alternative. (MKTG; Lamb, Hair, McDaniels;55)

Threats:
Our biggest threats come from two main competitors, Grey Goose, Belvedere vodka. Grey Goose has been atop favorite vodka for most drinks, and just drinking on its own. Most people just love buying the vodka because the bottle is so amazing looking. Just simple frosted bottles, but an artsy label as well. Belvedere, a similar deal with the bottle but it does have its uniqueness as well, a clear bottle, but the trees on the label are frosted. These two vodkas are usually the top bottle sellers in the clubs in the US, and also overseas. This extra additive of exclusivity may hurt our exclusive image since we only produce certain scents and do not offer a ‘mix your own’ option.

MARKETING STRATEGY
Target Market Strategy:
A target market is a defined group that managers feel is most likely to buy a firms product. (MKTG;Lamb, Hair, McDaniels;32) The target market for The American Dream would more than likely be considered a niche market. Concentrated targeting strategy, a firm selects a market niche (one segment of the market) for targeting its marketing efforts...to concentrate on understanding the needs, motives, and satisfaction. (MKTG;Lamb, Hair, McDaniels;107) We are aiming for young adults (the legal age of drinking) and to the upper middle class in this age group. These young adults will probably also be buying Grey Goose, and Belvedere, and also other high-end vodkas., but this will also have them draw their eye to wanting to venture out and try our vodka. Customers can also be segmented into frequent users, moderate users, and heavy users. (MKTG;Lamb, Hair, McDaniels;303) Fortunately this niche market are very loyal consumers who once they find a product will continue to make frequent purchases throughout the rest of their lives.

Marketing Mix
Product: The product that we will be marketing is our newest vodka. The American Dream.

Price: The American Dream will sell for $40 for a 740mL, which is very much the price of our main competitors vodkas.
Pricing is always an important aspect of marketing but is especially crucial in terms of inflation and recession. (MKTG;Lamb, Hair, McDaniels;289)

Place: As stated, The American Dream will be exclusively available overseas liquor stores, and at their higher end clubs and lounges. And when sold in the US sold in selective liquor stores, across the country and only on national holidays.
Exclusive distribution is distribution which entails only one or few dealers within a given area. (MKTG;Lamb, Hair, McDaniels;181)

Promotion:
Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response. (MKTG;Lamb, Hair, McDaniels;211) The American Dream will be advertised selectively in publications that our target market may read, magazines such as GQ, Conde Nast Traveler, and Forbes. Also in store launches will be held at the selective liquor stores in the US. We will always keep in mind that to sell the sizzle, not the steak-that is, in advertising the goal is to sell the benefits of the product, not its attributes. (MKTG;Lamb, Hair, McDaniels;230)

Implementation and Evaluation Control

In order to implement this marketing plan The American Dream will utilize a 6-month schedule. During the first two months we will finish producing the vodka while slowly the starting promotions in the magazines GQ, Conde Nast Traveler, and Cosmopolitan, Vanity Fair. In months three and four we will ship the vodka to our selective stores (overseas) in preparation for the launch. This shipment will include some of the sample vodka that may be given out to our most loyal consumers. In the fifth month we will begin a more aggressive advertising campaign in the magazines listed above as well as in our selective stores in the US and start sending out promotion material to the select certain night clubs in the US. Finally, in the sixth month, the rest of the product will be shipped to the overseas liquor stores, and night clubs and lounges, bars, and so on, and as well to the stores we selected in the US.
Introductory stage of the product life cycle represents the full scale launch of a new product into the marketplace. (MKTG;Lamb, Hair, McDaniels;155)

In order to be sure that this plan has been effective we will look at the sales figures for the first six months after the product launch to ensure that sales are where they need to be in order for us to reach our goals. If changes may need to be made we will then know before it is too late in the fiscal year to make changes.
Marketing research provides decision makers with data on the effectiveness of the current marketing mix and also with insights for necessary changes. (MKTG;Lamb, Hair, McDaniels;114)

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