Principles of Marketing Peer Reviewed Journal

Cookie Craze

It is difficult to differentiate in the cookie business, as there are a lot of good cookies in this world, and a lot of very creative cookie makers. Cookie Craze is going to differentiate at least on part on the basis of the brand. But the cookies will be unfathomably good, and that is part of the appeal of Cookie Craze. The flavors of the cookies will be key. With all due respect to grandmother, chocolate chip simply is not going to get it done in a competitive market today. Consumers take their cues from the food porn they watch on television, where chefs dazzle with unique, exciting flavors and that is exactly the kind of Craze we are aiming for. Exotic ingredients — things not considered normal for cookies — and a gooey, chewy base dough will form the key differentiating factors. That there will be a neverending stream of innovative new cookies from Cookie Craze only adds to the exciting product offerings. Mayan Chocolate with Bacon? Cardamom and Mace with Dulce de Leche icing? Now we’re getting somewhere. With new flavors all the time, excitement will be hard to control. There are few better ways to differentiate the business than to have cookies that blow customers’ minds every time they buy one. That is what Cookie Craze is all about.

Beyond that, branding is going to be a critical element in differentiating Cookie Craze from the lesser cookie makers of the world. The cookies themselves will be a factor in the strength of the brand, but so too will the visuals. Design — everything from the shop to the packaging, to the logo, the website and the cookies themselves — will be a core theme of Cookie Craze. Nobody in the cookie business will have sharper-looking packaging, and our products will absolutely pop off the shelves in relation to our staid competitors. Our mission is to transcend cookies — Cookie Craze is al lifestyle of decadence, style and the best cookies on the planet.

2. The launch phase of the product life cycle as a lot of implications for the way we approach strategy. The introduction stage is a time to establish what the brand is all about (QuickMBA, 2010). Our sales might not be big at this stage, but the impact of Cookie Craze will be massive. The marketing mix is determined in part by the stage of the product life cycle. The product needs to grab people’s attention at any point in the life cycle, but especially during the launch phase. We have tested some of our preliminary cookie dreams on our friends and family, so we know which are going to be the biggest hits. That is where we will start, along with some eye-catching imaginations that will generate a lot of social media and public relations hype. Nobody is doing what we are doing, and the world will know soon enough.

Getting the word out — no matter how good you are — is never easy. We have a limited promotional budget and will have to generate substantial word of mouth in order for all the right people — hungry ones — to know about Cookie Craze. In a highly diffused media market, social media is not only more cost-effective than conventional media but is the best way to reach our audience. As a result, we will engage in a social media blitz. The usual sites will be utilized, and we will have social media promotions to draw in “likes” and “followers.” But more importantly, we want to create a buzz and to that end we are working with our friends in the restaurant industry. We are getting our cookies into some of the area’s best restaurants and coffee shops, and making sure that our friends are helping to promote our brand to their customers. This will allow us to reach our target audience, which is a younger, hipper crowd that has exceptional taste in food and drink. To help build on this success, we have a public relations strategy in place to help get the word out to media outlets. We have already been in touch with a number of influential outlets and have bribed them with cookies. We will have some good press coverage of our early events and our partnerships with other members of the local food scene.

Another noted, branding is essential Cookie Craze is going to catch on like, well, a craze, and this will happen because of our slick graphics, awesome cookies and ultimately the visual presentation will be almost as important as the goodies inside the packaging. We envision a multitude of different packaging types, to meet the needs of the different segments of our target audience. In our bakery-store, we will have cookies without much packaging at all for individual or bulk sale. With our restaurant partners, we will not be able to utilize much packaging, but we went to get our logo on their fresh sheets if possible so that the image sticks will people and attracts them to our product. Packaging for retail outlets will be in individual cookies and in six-packs. These will be in cellophane bags, but stickered with our striking logos. Each cookie with have an individual logo, like you would see with each flavor of microbrew, because we want to sell each cookie individually. The design work on these stickers is going to be key to shaping the individual identity of every flavor that we come up with. As a result, not only will each package reflect Cookie Craze, but each individual cookie brand within our portfolio.

Population Growth

What products and services will interest these new youth markets?

The products and services in demand will be those that are most popular in other areas of the world. This is because they have similar tastes and want to own these items. A few of the most notable include: electronics, clothing and toys. At the same time, they will eat foods that have more Western tastes (such as: KFC). The combination of these factors is demonstrating how this segment is interested in popular merchandise from many developed countries. This is illustrating the new perceptions and affluence that are emerging. (“China and India,” 2005) (White, 2012) (Pilcher, 2012)

Compare and contrast the micro and macro environmental forces that can influence the marketing strategies for these products and services.

The micro economic forces which could have an impact on consumers include aggregate demand. This is when there will be changes in the number of people who want to purchase particular products and services. When this happens, marketers will begin utilizing different kinds of strategies to help themselves standout against competitors. This can influence sales by leading to specific cultural attributes embraced from international firms. (White, 2012)

The macroeconomic forces that will affect these strategies are unemployment figures. This is because the underlying rates will have a direct influence on how someone feels about the economy and their purchasing decisions. In this case, marketers will use strategies that will highlight how a product can address specific needs and offer better value. This is the point that they are more likely to purchase something (even though economic issues could be influencing confidence about the future). (White, 2012)

Will marketers in these countries use similar marketing strategies to influence this group or will their strategies be different from Western-based consumption marketers? Explain your reasoning.

Their marketing strategies will be similar and different to a certain extent. The way that they are similar is certain international cultural attributes will be utilized to reach out to potential customers. While at the same time, specific local traditions will be used to create a greater understanding of the firm and the products / services it is selling. (White, 2012) (Holmes, 2010)

The reasoning behind this thinking is based on the fact that all firms need to have an effective approach that can connect with consumers in different markets. The way that this is achieved is through using international symbols to create an initial connection with the person. These techniques establish a foundation of positive perceptions by utilizing various commonalities. (White, 2012) (Holmes, 2010) (Pilcher, 2012)

Then, localized customs are embraced to improve their favorable image. This is the point that someone is more than likely to want to buy from a producer, as they are interacting with them on multiple levels. These ideas have been successful for many firms with large well-known brand names such as: McDonalds and Taco Bell. (White, 2012) (Holmes, 2010) (Pilcher, 2012)

What opportunity for U.S. companies might you foresee? Support your reasoning.

The biggest opportunity is for U.S. companies is to create a strong consumer base that recognizes and wants their products. When this happens, they will see an increase in sales and dominate the marketplace. This approach is used by many fast food restaurants in China and India. What helps to make them so successful, is their ability to integrate their menu with localized tastes. This has increased their popularity and growth inside many of these areas. (Pilcher, 2012)

References

China and India. (2005). Rand. Retrieved from: http://www.rand.org/content/dam/rand/pubs/monographs/2011/RAND_MG1009.pdf

Holmes, D. (2010). Marketing’s Role. Oliver Wright. Retrieved from: http://www.oliverwight-americas.com/new_white_papers/marketing-role-ibp-white-paper-holmes.pdf

Pilcher, J. (2012). The Oxford Handbook on Food History. New York, NY: Oxford University Press.

White, S. (2012). Principles of Marketing. San Diego, CA: Bridgepoint Education, Inc.

NetMBA. (2010). The marketing mix (the 4 Ps of marketing). NetMBA. Retrieved March 23, 2012 from http://www.netmba.com/marketing/mix/

QuickMBA. (2010). The product life cycle. QuickMBA.com. Retrieved March 23, 2012 from http://www.quickmba.com/marketing/product/lifecycle/

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Principles of Marketing Peer Reviewed Journal

Marketing Case Study

Explain what you think would be an appropriate promotions strategy for both of them. In doing so compare and contrast the two promotions strategies explaining why you think they would be similar or different.

NINE POSSIBLE PRODUCT — MARKET COMBINATIONS

POSSIBLE TARGET MARKETS

GAY MEN OR WOMEN

BLACK WOMEN AGED 18-30

HANDGUN OWNERS

PRODUCT CATEGORIES

VACATIONS

NON-LETHAL PERSONAL SECURITY PRODUCTS

FITNESS / EXERCISE PRODUCTS

More than one billion adults worldwide are overweight. In the United States alone obesity is responsible for an estimated 300,000 deaths annually. What’s interesting is that nearly all of these deaths are preventable through proper exercise and nutrition. As such, fitness is a very contentious issue plaguing many of the developed nations worldwide. Statistics indicate that nearly 33% of all Americas are obese. This bodes very well in regards to marketing as 1 in 3 Americans could use the fitness and exercise related services. The strategy in regards to both women, and black women aged 18-30, will center primarily are confidence. More so than outwardly appearance, the strategy will focus on the confidence a new look instills within the overall mindset of women. The strategy for both segments will encourage and inspire individuals to achieve the highest levels of health and conditioning. A subcomponent of the strategy will be that of education. The marketing campaign, particularly for African-American women, will educate potential clients to better understand the balance between exercise and nutrition. Black women are prone to many complications that other women of differing ethnic backgrounds are not prone to. For example, sickle cell anemia has a very high prevalence within the African-American community. As such the strategy for these women will differ substantially as the focus will be geared towards education. In addition to sickle cell, the strategy will also focus are issues such as high blood pressure, and high cholesterol levels of African-American women. By appealing to their overall health and longevity, the marketing campaign will be more personalized to appeal to the needs of a particular demographic. This segmentation of the African America market is a result of two distinct categories. One in regards to women is that of the health conscious individuals. This group comprises the 33% of individuals who are obese and need personal health services. The other and often more lucrative segment are those who are already active and are in pursuit of challenges. These individuals of African America women are sports oriented and desire challenge. The strategy to target this segment hinges primarily on our ability to present a compelling value proposition (Joshi, 2005). Our positioning with this segment would be that of challenge. The strategy will focus on a lofty and difficult goal to obtain and the subsequent feeling that one garners through its completion. The message would be catered to establish a sense of dedication and hard work. Through this messaging the strategy will attract loyal and often determined clients to the fitness arena.

In regards to the women segment overall, the strategy will focus primarily on the confidence and attractiveness. Women, particularly those in developed nations, take much pride in their outwardly appearance. As such, the strategy will create two distinct segments focused on appearance and confidence. The appearance segment would be more lucrative as appearances constantly change. Age, stress, marriage, and environment all contribute to the outwardly appearance of women. As such, this exterior look is often in a state of flux. Due to the constantly changing dynamic of looks, the attractiveness segment will always be in the market for new methods is which to maintain their desired looks. Therefore, the positioning of the product would be that of youth and beauty. Women are particularly interested in society’s view of beauty. They, in an effort to maintain this standard will go to extreme length to obtain. Our product position will be no different in this regard. The fitness facility will be positioned as one that can help women achieve their desires in regards to beauty and youth. Finally, the messaging within the strategy will focus are more youthful and millennial driven phrases and slogan to further enhance the products appeal (Kotler, 2011).

In summary, these two strategies are unique in both their segments and how these segments will be communicated with. In regards to the African-American strategy, the marketing will be more emotional based and comprise of genuine concern for the health of this population. The women segment will be more fashion oriented with its youthful vide. This heard mentality will ultimately manifest itself in more sales for the facility (Swarming the shelves, 2011). It will also appeal to many women who are attracted to fitness products in the interests of their own personal beauty.

2. Explain what you think would be the most appropriate pricing method and why. In doing so compare and contrast the two pricing methods explaining why you think they would be similar or different.

The most appropriate pricing method would be that of a fixed flat rate. Fitness facilities are characterized with high fixed costs and low variable costs. The high fixed costs are primarily due to machinery, equipment, building expense and other recurring bills. Labor is generally low as many individuals prefer to work out alone. However, with this woman segment, they will need specialized attention to achieve the fitness results they desire. As such, labor costs may increase marginally. However, a vast majority of expenses occurred within the industry are fixed. By virtue of being fixed, there is very little variability in regards to expenses with a gym. As such, a fixed pricing structure would be best for the consumer. This method allows for the consumer to know exactly what he or she will be paying each month irrespective of use. This correlates with the gyms own expense structure. The leg machine will still cost $1,000 irrespective of personal use. A fixed pricing method also encourages repeat usage. Consumers often want to obtain the most use for each dollar paid. Through a fixed pricing structure, consumes will want to visit the gym more often simply due to the fact it doesn’t cost them any additional expense. This furthers the relationship with the client while also helping the client establish and obtain their goals.

The next best alternative would be that of a variable pricing structure. Unlike its fixed counterpart, this structure increases the expense bourn by the consumer. This, during good economic times is very advantageous to the gym. However, during extreme bouts of macroeconomic pessimism, discretionary expenditures are often cut. Through variable “pay as you go” structure’s, consumers can simply stop purchases during tough economic times. This is less likely to occur under fixed cost plans as they often are accompanied with a contract. For example, under a fixed cost plan, the consumer would enter a contract paying $10 a month for 12 months. This contract therefore ensures a long-term customer for a least one year. Under a variable cost contract, the consumer can terminate the relationship instantly leaving the gym with high fixed costs and no consumers.