Week 8 EOC: Creative Content

For my creative content I plan to bring to life the Thai Chili Crisps! I want to incorporate the use of colorful chili's and place them near my rice crisps.  I have not decided if I plan to use regular rice crackers, or try to create them from scratch (this could be a more fun option).  I will place them in a decorative manor, possibly using a wooden bowl where the crisps will be filled to the brim.  I want to translate a rustic older feel, to be sold as the perfect snack or street food.  The chili's will be placed next to the rice crisp so that the buyers will instantly know that these crisps will pack a punch.  The variety of different colors of chili's will also promote their exotic nature.  I will be photographing my model holding a glass of beer and eating the crisps; then using photoshop to emphasize the packaging. Since the rice cakes don't have much color, I have thought about adding color to the crisps.  My intention is to use this as my advertisement pitch.  I would like to grab everyone's attention with this photo.  No one is aware of this exotic chili in the United States but they are about to be! This will bring a new and uncharted flavor to people that can't be found in your everyday potato chip.

Implementation Evaluation Control

Marketing control is defined as "the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved" (Kotler & Armstrong, G10).  I will be able to take control of my marketing strategies' results by evaluating the effectiveness of each strategy.  "Profits increase during the growth stage as promotion costs are spread over a large volume and as unit manufacturing costs fall" (Kotler & Armstrong, 262).   By taking inventory of my product and evaluating the net profit 4 times per year, I will be able to establish a clear view of whether or not marketing changes need to be made.  I would then need to go back to planning stages in promotion, marketing, and distribution to determine where possible improvements could be made. "At some point, a product’s sales growth will slow down, and the product will enter a maturity stage (Kotler & Armstrong, 262).

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" (Kotler& Armstrong, 275) I have chosen to price the Thai Chili crisps at $1.25 for a single 1-ounce bag and $3.50 for an 11-ounce bag.  By purchasing the large 11-ounce bag, consumers would be saving $10.25 as opposed to buying 11 1-ounce bags for $13.75.  I have made both bags a reasonable price while still encouraging the consumers to purchase the larger bag because of it's value.  "Setting prices based on competitors’ strategies, prices, costs, and market offerings"(Kotler & Armstrong, 275) The prices are competitive because they are priced within the same bracket as other brands and determined by the current economic status.  "In setting prices, the company must also consider competitors’ prices. No matter what price it charges—high, low, or in between—the company must be certain to give customers superior value for that price" (Kolter & Armstrong, 275).  Based on the economy, the price of my product will be on the same pricing plane as the rest of the products in its category.  It will not be too expensive that consumers will not purchase it, nor will it be too cheap that no profit will be made. "Economic conditions can have a strong impact on the firm’s pricing strategies. Economic factors such as a boom or recession, inflation, and interest rates affect pricing decisions because they affect consumer spending, consumer perceptions of the product’s price and value, and the company’s costs of producing and selling a product."(Kotler & Armstrong, 284).

Distribution

When distributing my product, it would be most beneficial to use an intensive distribution strategy.  "Intensive distribution is a strategy in which producers stock their products in as many outlets as possible" (Kolter & Armstrong, 323).  Thai Chili Crisps are classified as a snack food, this allows them to be distributed in a very broad range of outlets.  Grocery stores, convenience stores, and bars would all be very common outlets for Thai Chili Crisps.  "Exclusive distribution is often found in the distribution of luxury brands and brands" (Kolter & Armstrong, 324). 

Promotion

The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships (Kotler & Armstrong, 432). I believe that the best way to introduce the Thai Crisps into the market is through social media to create a relationship with our customers.  Social media is becoming a staple in today's society and success of products.  I could create a Facebook fan page and a Twitter account for Thai Chili Crisps.  The Facebook fan page could offer occasional promotions.  I could encourage users to "Like" the page and get a coupon for one free sample to try the Thai Chili Crisps.  Twitter could be used to tweet pictures of products, promotions, and events that include Thai Chili Crisps.  These promotions are considered sales promotions.  Sales promotions are "short-term incentives to encourage the purchase or sale of a product or service" (Kotler & Armstrong, 432).  Since it is a new product, I want to do everything possible to get the name into circulation.  Google is a great way to advertise products.  I would like my product to show up as a banner on Google every time a person searches for "alcohol", a local bar, or "snack food."  Since Anheuser-Busch (A-B) is one of the most popular brewers of beer, it would be a great promotion strategy to team up with A-B to promote my product.  We could run promotions that offer a free sample bag of Thai Chili Crisps with every 24-pack or 30-pack of any A-B beer.  A very popular time of year that my product could make a lot of profit is football season and specifically the Super Bowl.  Advertising to get Thai Chili Crisps for Super Bowl parties could be done via commercials, Facebook, Twitter, and Google.  Promotion is a great strategy to reach to customers. A company "must communicate with target customers about the offering and persuade them of its merits" (Kotler & Armstrong, 13).

Product

A product is defined as "anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need" (Kotler & Armstrong, G10).  My product is a crispy rice crisp with the spice of a Thai chili.  The market, "a set of all actual and potential buyers of a product or service" (Kotler & Armstrong, G10) will be a crowd that drinks, enjoys sports, and eats snack food.  It will be distributed to multiple outlets and available throughout the country.

Target Market Strategy

Product placement in stores would be my main target market strategy. "The process of evaluating each market's segment's attractiveness and selecting one or more segments to enter" (Armstrong and Kotler, pg. 175).  By understanding my target audience, I will be able to strategically place Thai Chili Crisps to maximize profit.  Since Thai Chili Crisps are best accompanied by alcohol, it would be most beneficial to place the product near the beer/liquor in a store.  Rather than having them on a shelf and getting lost among all other chips, pretzels, etc., they would be featured on an end-cap rack to attract consumers.  Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers (Armstrong and Kotler, pg. 175).  The advertising of the product packaging will be an important strategy for targeting adults.  The bag will display a gentleman sitting with a bowl of Thai Chili Crisps in front of him along side a glass of beer.  By including the beer on the product's bag, this will eliminate children and adolescents from the target market.  The product's packaging will narrow the target market down to people over the age of 21 who drink alcohol.  "Developing separate marketing plans for the separate segments requires extra marketing research, forecasting, sales analysis, promotion planning, and channel management" (Kotler & Armstrong, 188).

Situation or SWOT Analysis

A SWOT analysis is overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T) (Kotler & Armstrong, 55).

Stengths

- Unique, international ingredients
- Compliments your favorite drink with dynamic flavors
-  Two different sizes appeals to different needs of consumers

Weaknesses

- Spice may not appeal to everyone
- People may not be willing to try a multicultural snack

Opportunities

- Super Bowl parties
- Bar food during football season and basketball season

Threats

- Inability to easily obtain ingredients
- "Down time" during the year and in between sports seasons

Objectives

"Marketers should work to measure the returns on their sales promotion investments, just as they should seek to assess the returns on other marketing activities" (Kotler & Armstrong, 438).  The objective of the company will be to deliver a product that is enjoyable and profitable.  Our product will give the consumer a snack that will send their taste buds on a rollercoaster of flavor.

Objectives and issues

The company’s objectives should be defined in specific terms so management can measure progress and plan corrective action if needed to stay on track. This section describes any major issues that might affect the company’s marketing strategy and implementation.

Business Mission Statement

Our mission statement “A statement of the organization’s purpose—what it wants to accomplish in the larger environment” (Armstong & Kotler, Pg.39). is to offer the best snacking experience with our Phileas Fogg Brand Chili Crisps to accompany your favorite spirit! Our Chili Crisps will excite you with their rich and exotic flavors from around the world. These flavors of Thailand use the spicy and savory chili’s to awaken your taste buds.  The crunchy and delicious Chili Crisps will take you to on your own personal trip with every bite and entice the inner adventurer in you!

EOC Week 7: The Pitch Final Project

Along our journey people have spoken about the exotic islands of Thailand and all of the tropical robust spices and flavors it bestows.  One in particular, is a rare Chili said to only bloom in January.  There were rumors of this Chili possessing, strength and agility.   I knew that this Chili would offer me everything I would need to prove to the world that I had the stamina to travel around the world in 80 days!  I couldn’t wait to arrive in Thailand to get my hands on it! However, it has been said that many men have had fatal reactions when they eat the chili’s alone.  I would have to find a way to eat them.   
                We were scheduled to land in the rice fields just as the chili was ready to bloom.  This just so happens to be when the locals celebrate the Chiang Mai Festival, the city explodes in color as the streets are filled with floats and parades.  This is the perfect time to quietly land without being seen.  All of the locals would be in town and we would have an opportunity to get in and get out.  If we should happen to be seen we will be dead men! The people of Thailand protect these chili’s like gold. 
                It is a cold January night and we are landing in a vacant rice field.  The chili’s are just up a small hill, we tip toe praying not to be heard. I can see the different colors of chili’s glowing in the dark, just as I go to reach and grab one I hear a crack in the darkness.  Just then a bolt of fire comes hurling at my head, someone is throwing fire coconuts at our heads, we grab as many chili’s as we can before we run back to the air balloon. We barely get out alive, as the fire is hitting the ground at my feet just inches away from me I get a wiff of a delicious aroma. The fire is smoldering the rice stalks beside me and then it hits me, fried rice; the perfect accompany to the chili’s!