Week 10: BOC/EOC: Les Paul and His Band of Renown

Les Paul.

When people hear this name, one thing usually comes to mind: guitars. And for good reason. "Before his attention was diverted toward recording multi-layered hits for the pop market, he made his name as a brilliant jazz guitarist" (CMT). Interestingly, he couldn't read music. What he did have was "a magnificent ear and innate sense of structure, conceiving complete arrangements entirely in his head before he set them down track by track on disc or tape" (CMT). Fast-forward to 1940, when Paul created his "innovative guitar, "The Log", built after-hours in the Epiphone guitar factory in 1940, was one of the first solid-body electric guitars" (Wiki).

"Paul also made several records with his Trio for Decca from 1944 to 1947, including jazz, country, and Hawaiian sides, and backed singers like Dick Haymes, Helen Forrest, and the Andrews Sisters" (CMT).

Les Paul died of pneumonia in 2009, but he left his mark as the father of American popular music forever.

http://goo.gl/doodle/gWH9

EOC: Week 9: Creative Content

I have a few ideas for my creative content. My initial inspiration came from the new Pepsi Skinny Can. It looks like it could be the perfect jumping off point for how I want to package my vodka. It looks like the kind of packaging energy drinks use (and my vodka gives you energy--without caffeine). I'm also going to be utilizing the fact that my vodka is all-natural. I'll do that by creating a logo that gives off the idea of "green". It'll probably be a green can with a slightly darker green, or possibly other dark color, leaf in the center. "Ergo" will go in the center of the leaf, or possibly below it.

EOC: Week 9: Three Great Mission Statements

A key ingredient in a successful marketing strategy (and, in turn, a successful product), is a great mission statement. Here are a few good mission statements from my classmates on our Vodka project.

First is Keri's. Her mission statement for "On the Rocks" is clear, concise, and gives you a real sense of what the vodka stands for and what it means for the environment. It just comes right out and tells the consumer that they are receiving a high-quality product. On The Rocks gives you "distribute and sell the finest quality all natural, hand selected Vodka...which, in turn, will give you the most natural experience". That's a simple and clean way to tell your customers what you do and how you do it.
Sean's mission statement is really great as well. His reminds me of the Becherovka statement we looked at in class. It speaks clearly of the process the vodka goes through to get to you, and that gives you a really good sense of the value of the product you are going to enjoy. He goes into a long discussion of the process, but finally reminds you that you will "Enjoy the Best 40 years of great tasting vodka with our Vice Vodka Collection, It will surprise you. Vice Vodka make it your Vice."
Finally, Danielle's mission statement. Hers has a "don't give a damn about what you think" feel and that might be synonymous with the brand she's trying to create. She is just trying to "provide our customers with the ultimate inebriated experience" for the lowest possible price. Period. That's her niche, and I respect that approach.

Week 8: EOC: My Vodka is Unique Because...

Ergo is a vodka that goes with you, giving you an experience unparalleled by other vodkas. As the music plays and the night goes on, so does Ergo. It's super portable and super sustainable. Ergo meets your eye in a beautifully embellished stainless steel bottle, able to be experienced over and over again however you like. Ergo is all about having fun the sustainable way, from bottle to vodka.

Final Project: Implementation Evaluation Control

As stated before, it is so important for a company to keep up-to-the-minute updates on the market and how their product is faring. Both marketing and operation control are vital. Marketing control is all about "measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved" (Marketing: An Introduction, Armstrong/Kotler, pg. 58). Operating control goes one step further and requires "checking ongoing performance against the annual plan and taking corrective action when necessary" (Marketing: An Introduction, Armstrong/Kotler, pg. 58). Using our promotional methods, pricing, surveying the competition's techniques, and simply creating a better product, we will constantly make sure that Ergo stays on the cutting-edge of vodka and sustainability.

Final Project: Marketing Mix - Price

Setting and maintaining a price on your product is a tricky thing, since markets change, demand rises and falls, and the product life-cycle ends. So, it's especially important to come out initially with a competitive yet reasonable price for your product.

Though promotional pricing, "or temporarily pricing products below the list price, and sometimes even below cost, to increase short-run sales" (Marketing: An Introduction, Armstrong/Kotler, pg. 294) can be a good idea sometimes, it does have its drawbacks. For example, it could make your product seem cheap or not valued well enough, and that might turn customers off. The only time Ergo might take part in promotional pricing is during heavy "party times", such as New Year's or Christmas, or even St. Patrick's Day.

What Ergo does believe in is competition-based pricing, which is "setting prices based on competitors’ strategies, prices, costs, and market offerings" (Marketing: An Introduction, Armstrong/Kotler, pg. 280). Always wanting to stay ahead of the curve, Ergo will constantly survey the market and see what other companies are pricing their drinks at and why. Has the market changed? Are they coming out with a new product? Based on these findings, we will set our price, always aiming to be a better value.

We know that "consumers usually perceive higher-priced products as having higher quality", but sometimes products aren't worth what they're sold for. You wouldn't want to pay $40 for a poor-quality vodka, would you? Of course not! Ergo is not low in quality in the slightest, but the demographics we are trying to reach want affordable fun. So, since most energy drinks cost anywhere from $.60-$3.00 per can, and vodkas found in supermarkets range between $12-$30 per bottle, and we are going to be selling it in a four-pack, Ergo is going to be priced at $7.95 per pack.

Final Project: Marketing Mix - Promotion

With promoting a product, sometimes you just need a little push and pull... literally. The push and pull strategies are ways to promote your product in order to gain customers and, ultimately, form relationships with them. In the push strategy, "the producer promotes the product to channel members who in turn promote it to final consumers" (Marketing: An Introduction, Armstrong/Kotler, pg. 384). The resellers use all kinds of promotions, including "personal selling, advertising, and sales promotion" (Marketing: An Introduction, Armstrong/Kotler, pg. 385) to push your product into consumers' hands.

The pull strategy, however, requires spending lots of money in advertising "and consumer promotion to induce final consumers to buy the product, creating a demand vacuum that “pulls” the product through the channel" (Marketing: An Introduction, Armstrong/Kotler, pg. 385). This might be considered creating a product/brand identity that consumers trust and that makes them want to buy the product.

Ergo will utilize both of these principles. To begin with, we will use the push strategy to help introduce our vodka. We'll create commercials for television and start a website that details more information about the product. Then, once people try (and love) Ergo, we will create a Facebook page (or perhaps someone will take it upon themselves to do so) so everyone can stay up to date on what's new at Ergo. They can post photos of themselves with the drink, tell us what they love most about it, etc.

Final Project: Marketing Mix - Distribution

There are a few routes a company can go about to distribute their product. One that is often used for high-end or upscale products is exclusive distribution. Exclusive distribution means that "the producer gives only a limited number of dealers the exclusive right to distribute its products in their territories" (Marketing: An Introduction, Armstrong, Kotler, pg. 324). Certain vodkas are distributed exclusively (Diva, which goes for $70+, depending how many stones [that includes diamonds!] your bottle has).

Another form of distribution is intensive distribution, which means the producer "stocks the product in as many outlets as possible" (Marketing: An Introduction, Armstrong/Kotler, pg. 324). These are the vodkas you would find in supermarkets or gas stations. And that is exactly where you'll find Ergo: in the liquor section of your nearest grocery store. We decided to distribute our vodka intensively because we want to make sure that everyone has available to them the Ergo experience. Sold in a four-pack, Ergo makes it possible for you to carry the party with you (and make runs back to the 24 hour market if need be).

Final Project: Marketing Mix - Product

Ergo Vodka sets itself apart from all other vodkas on the market because of how genuine it really is: it cares for the environment (and always will), it is made from only the purest and most organic ingredients (and always will be), and it truly and really wants the consumer to enjoy the product and have a night to remember (if it ever ends).

What we did at Ergo was product development, or "developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering" (Marketing: An Introduction, Armstrong/Kotler, pg. 251). We wanted to make sure that we thought through the entire creative process before putting our product out there for the public. So many products fail pretty much immediately after being introduced. Developing the product and creating an identity is vital to making sure your product sells, and that is exactly what we did with Ergo.

Final Project: Target Marketing Strategy

Now that we have a product, how are we going to market it? Using marketing implementation, of course. Marketing implementation is "the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives" (Marketing: An Introduction, Armstrong/Kotler, pg. 57). We are going to form positive relationships with all those from whom we outsource: the French Alps water company, the organic potato farmers, the organic ginger farmers, the organic ginseng farmers, the stainless steel bottle manufacturer, the local bottlers... everyone. Ergo is going to set itself apart from other companies by having the best relationships with those who help create our product.

Now, as fine and well as our marketing implementation strategy is, how are we going to be able to tell if it's living up to our expectations? That is where marketing control comes in: "The process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved" (Marketing: An Introduction, Armstrong/Kotler, pg. 58). There must be a way to evaluate how our product is doing, how the market is responding to our product, etc. We can advertise as much as we would like, but without measuring our ROI, or return on investment, we won't really see if all our efforts are bearing fruit. Though ROI is pretty difficult to measure, Ergo will try to assess our return "in terms of standard marketing performance measures, such as brand awareness, sales, or market share" (Marketing: An Introduction, Armstrong/Kotler, pg. 60). We will consistently survey the market in various ways, including Facebook polls, seeing how the consumers are responding (if they are purchasing it or not; and if they are, if they purchase it repeatedly), etc. We are all about pleasing the customer and giving them the Ergo experience. We want to hear from them. We are going to be very accessible and more than willing to work with them on creating a product they not only want to buy, but that enhances their lives.

Final Project: Situation or SWOT Analysis

When even thinking about launching any new product, it behooves everyone to give the product a thorough and in-depth analysis. Thus, "The marketer should conduct a SWOTanalysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)", (Marketing: An Introduction, Armstrong/Kotler, pg. 55).

There are a few key things to keep in mind when putting a product through a SWOT analysis, each being vitally important to the item's success. With regards to strengths, it is very important that the analysis include "internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives", (Marketing: An Introduction, Armstrong/Kotler, pg. 55). Ergo Vodka has many strengths, chief among them the unwavering commitment to distributing a product that is certified organic and eco-friendly, thereby being good for you AND the environment. This commitment creates a trusting relationship with our customers. They believe in our product because of what Ergo stands for as a vodka, but also as a movement. And they want to be part of that movement.

Weaknesses, on the other hand, include "internal limitations and negative situational factors that may interfere with the company’s performance", (Marketing: An Introduction, Armstrong/Kotler, pg. 55). Ergo, like any other product, has weaknesses. Though other energizing vodkas exist, it might be hard to bring a new product into the market. This is especially true, considering the plethora of vodkas out there. "What makes this vodka so special?", customers might ask. Well, all they'd have to do is read the bottle and take a sip.

What Ergo absolutely has going for it, however, is opportunities, or "favorable factors or trends in the external environment that the company may be able to exploit to its advantage" (Marketing: An Introduction, Armstrong/Kotler, pg. 55). Society in recent years has become much more attentive toward the environment and the need for sustainable business practices. This is a prime time to introduce Ergo, and to capitalize on the environmentally friendly stance the company takes.

Unfortunately, there are some threats to Ergo, a major one being the already-established energizing, organic vodkas on the market. Since threats are "unfavorable external factors or trends that may present challenges to performance" (Marketing: An Introduction, Armstrong/Kotler, pg. 55), it is especially important for the marketer to take these into consideration before releasing the product. Ergo knows the threats it faces, but we will face these threats head-on and distribute a widely successful product.

Final Project: Objectives

"Developing the promotion budget by (1) defining specific objectives, (2) determining the tasks that must be performed to achieve theseobjectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget" (Marketing: An Introduction, Armstrong/Kotler, pg. 389). That is the definition of the objective-and-task method, which is a very important part of developing and marketing a product SUCCESSFULLY.

The objectives of Ergo go hand-in-hand with its mission: to create a product that gives the drinker an experience unparalleled by any other vodka available. To do this, we give consumers a quality beverage they can feel good about purchasing: it is good for the environment, and the ingredients of ginseng, ginger, acai berry, and bee pollen make it a vodka that is good for you.

The costs of these tasks will be lower than expected because Ergo will only use ingredients locally grown (the exception being the exceptional French Alps water, which will cost more to import). We will make a point to advertise the locally-grown aspect of Ergo in the hopes that it attracts more customers. This is also considering the market for organic products.

Final Project: Business Mission Statement

Ergo Vodka is more than just (really good) vodka. Ergo is the experience: premium vodka that you can feel good about drinking. Ergo is the movement: organic, all-natural vodka that helps create a more sustainable global environment. Ergo is the memories one creates when the party doesn't stop. Ergo is what you make of it.

[Since "A clear mission statement acts as an “invisible hand” that guides people in the organization", Marketing: An Introduction, Armstrong/Kotler, pg. 39), it is important that the consumer understands what the brand means, not only to them, but to the world as a whole. That way, it distinguishes itself from other brands and is more memorable.]

EOC: Final Project: Pitch

Introducing Ergo, an all-natural and organic energizing Vodka. Ergo is infused with the natural energizers ginger and ginseng, as well as extracts of the superfood bee pollen. Made with only premium, organically grown potatoes and the purest water from the French Alps, Ergo Vodka gives you all the energy you need—without the caffeine—to keep the party going.

Week 6: EOC: Me x 3

We spend money on all sorts of things. These things range between the spectrum of "needs" and "wants". But there is a certain psychology to purchasing. Why do we buy certain types of food or only this brand of toilet paper?
Women do the majority of purchasing and shopping in a household. They don't buy simply to satisfy their own needs and wants, but to satisfy those of everyone in the home. And nine times out of ten, the rest of the family is perfectly okay with that. They'll use whatever soap they find in the shower or whatever food happens to be in the refrigerator.
I have a few key products that I personally and regularly purchase. One is my wardrobe. I like to think that my "style", if you'd like to call it that, is free and easy and not too fussy. Today, I'm wearing a dress. This dress is light and airy and colorful; it perfectly exemplifies my kind of ideal outfit. Now, I am not one to drop a load of money on something at the drop of a hat (or at all for that matter). I go to Target because the clothes are relatively inexpensive and they are of decent quality. I won't ever go to, say, Betsey Johnson and buy five dresses and three purses just for the fun of it. (Although I'd love to.)
A second product I buy (and might actually splurge on once in a while) is feminine hygiene products. If there's anything women are picky about, it's their pads and tampons. (And anyone who says otherwise is lying.) There is a difference between Always pads and the generic pads. You get something extra... at least I think you do. I like the Always pads because I like the protection I get. That's what's most important. If a pad doesn't protect against Mother Nature, you better look for a different brand. When it comes to things like feminine products, VALUE and QUALITY matter above all else. I'll pay a little extra if I'm sure that I'm getting maximum protection.
Lastly, I love buying my Jamba Juice Strawberry Energizer Smoothie. Call it my weakness, say it's my kryptonite. It's what I love to get for a between-class "lunch". I believe I get a quality smoothie when I go to Jamba Juice. Other places are just imitators in my opinion. Jamba is the real deal. There's a great variety of products, plus they sell food and other goodies. They are also a socially responsible company, educating the public about the quality of product they are getting and how it helps the environment. I feel good when I enjoy my smoothie (which they fill to the brim, so I get more bang for my buck), because I feel healthier. I didn't just go to Wendy's and get some fries or a burger. I had something that made me feel like I made a good decision. And isn't that what everyone (especially women) want?

EOC: Week 5: Sony Sleuths

With all the "Big Brother"-type of monitoring constantly happening in today's modern society, you'd think that a huge company like Sony would realize it was being hacked, and by whom, before over 100 million gamers' personal information was stolen. Obviously not.

Sony said it was "victim of a very carefully planned, very professional, highly sophisticated criminal cyber attack designed to steal personal and credit card information for illegal purposes." (http://tinyurl.com/3b8quok)

The big question is: How is this going to affect Sony and its millions of customers?

If I were one of the many whose information was hacked, you can bet that I would think twice before playing another game on my PlayStation. I'm not going to risk having my personal information, including my credit card, stolen again. This might cause a dramatic decline in Sony's sales and market value. A blow of this magnitude is just too great to be taken lightly. This might also in turn affect other video game companies, such as Microsoft. I mean, if the maker of one of the highest-grossing gaming consoles (the Playstation) can't protect its customers' privacy anymore, who can?

The bottom line is that Sony needs to somehow rectify this situation, if that's at all possible, to its customers. It needs to instill within its customers a sense of safety, that their privacy will never be invaded like this again. Maybe then Sony could recover from this [stealthy] debacle.

EOC: Week 4: There's an App for That

Some Smartphone apps nowadays are just plain stupid and a complete waste of time. Others, however, are revolutionary and definitely serve a purpose. There are weight loss apps, coupon apps, gas station-finding apps, sound effect apps, flashcard apps, Photoshop apps, mobile banking apps, notepad apps, Netflix has an app, there's even app that lets you know if you're too drunk to drive home and orders a cab for you. There's an app for everything!

If I were to design an app, I would have one be that my phone never be able to die. Even if I drop it in the toilet (which often happens to Smartphone owners, unfortunately), if it gets run over by a cement truck, I want my phone to either stay alive or have all my memory saved on my phone somehow, so I can just transfer it to another one. I want an app that stores EVERYTHING that's on my phone...including all the apps I already have. I want a guarantee that I won't have to ask my friends for their cell phone numbers if something happens to my phone.

A second app that should definitely be in an App Store is one that finds your car. Luckily, many of these already exist. And isn't it such a great idea? I can't begin to count how many times I've actually lost my car in a parking lot. Beeping the lock key or the panic button don't do any good because the keys have a certain radius the buttons work in, and outside of that radius is moot. So let me find my car ANYWHERE. What if it gets stolen? I want to know where to go to kick the ass of the person who tried to get away with stealing my car. I don't want to have to ask, "Dude, where's my car?!".

Lastly, I want an app that will let me input my entire family medical history. How am I supposed to know if some relative had this disease? Well, let me pull out my phone and find out. That would make filling out paperwork at a doctor's office much more efficient and accurate, and that would help make sure that I get the proper medical care. How would I get that history inside the app? A simple questionnaire, similar to those given in waiting rooms at the doctor, would be all that's required. Quick and simple. And isn't that what app buyers want?

EOC: Week 3: Making Money for Good

Some companies, let's face it, don't care so much about the world in which their consumers live. There are many, however, that in fact do care about their customers! (Shocking, isn't it?)
A prime example of that is Avon, which has created the Avon Foundation for Women. In fact, "Through 2010, Avon global philanthropy has donated more than $800 million in more than 50 countries for causes most important to women." These causes are represented by the Avon Breast Cancer Crusade, their Speak Out Against Domestic Violence program, and also their continued support for relief efforts during times of natural disasters and emergencies.
In regards to the Avon Breast Cancer Crusade, "Avon has raised and donated nearly $700 million to breast cancer programs around the world. The money supports breast cancer research and helps women access quality care." This clearly shows how much Avon recognizes vital needs and uses their products and services to fill these needs.
http://www.avoncompany.com/corporatecitizenship/breastcancer.html
For nearly forty years, Target has been committed to giving back to the community. Their self-titled "Commitment to Giving" has consistently given 5% of its income to support communities in various ways, including their Take Charge of Education program, and partnering with art organizations and educators to help Target customers and their families take part in cultural events nationwide.
Coca-Cola is all about sustainability. They consider it their corporate responsibility to make a positive difference in the world. They accomplish this by putting quality ingredients in their products (and heaven knows Coca-Cola has MANY products...), encouraging healthy living by providing healthier products, constantly developing sustainable packaging (such as reducing the amount of materials used to create packaging without sacrificing quality), and creating healthy and positive work environments with "internationally respected human rights principles".
All three of these companies, as well as countless others, make it part of their corporate mission to give back with the money they get from sales. More companies should take a step back and look at the world around them, not just the tiny bubble in which they live and make tons of money. Maybe then they would see that the world has so many great needs, many of which can be filled by company and, in the long run, global commitment and support.

EOC - Week 2: Boston Consulting Group - Video Games

The state of the economy has hit many markets very hard, but none quite so hard recently as the video game industry. The arrival of the decline in market value has come about rather quickly. In fact, "As recently as six months ago, the video game industry was racking up strong growth even as other businesses reported sharp declines in sales and profits" (Kane, WSJ). While families have been buying games for as much as $70 (or much more, if you include the console and accessories), there has been an abrupt halt in sales. In 2009, video game sales reached $20.2 billion with the releases of such top-selling game consoles as the Wii, which sold 3.1 million units even though there had been "some rumblings that the Wii had started to lose some of its steam"(http://news.cnet.com/8301-13772_3-10435516-52.html#ixzz1JXZUPqN0).
The way I see it, there is much possibility in the future of video games, especially in new kinds of technology. Just look at Microsoft's Kinect hardware for the Xbox 360! The idea that 'you are the controller' has definitely found its place in the video game market. The Kinect has been called "the fastest-selling consumer electronics device in the world, having reached 10m sales in just a couple of months" (http://www.siliconrepublic.com/new-media/item/21385-microsoft-is-bringing/). I think gaming consoles such as the Kinect are going to be a star in this market. It's an entirely new product with high growth rate. I'm sure other companies are scrambling to figure out how to top the Kinect. Wii was first to put real control in your hands (not just simulated by the old school controllers of PlayStation and others). Kinect topped it by getting rid of the hand-held controller all together!
What is definitely dead is the era of Gameboy. I haven't seen any ads for any Gameboy games, systems, or accessories. I think the Gameboy is antiquated already. It was huge when I was growing up. But even then, it was only for maybe 6 or 7 years. Then we got PlayStation. Then we got to business.
The future of gaming is all in the technology. Who is going to be the next company with the next big thing to revolutionize this already continuously revolutionizing industry? Only time can tell.

EOC - Week 1 - Great Customer Service

A company is nothing without its customers. Scratch that. A company is nothing without satisfied customers. This truth lies in the fact that "Satisfied customers are more likely to be loyal customers" (Marketing: an Introduction, pg. 14). Why would a company want to spend precious time and money on continuously and constantly having to re-market to new customers? If it's really a good company, like Zappos or Apple, it will value customer satisfaction more than the customer's dollar. I had great customer service at a Sprint store recently, immediately having horrible service at a different Sprint store. Long story short, I needed a replacement for my phone. Store #1 was giving me such a hard time, telling me I could not get a new phone right away, even though I had insurance and a warranty on the phone. They failed to fix my broken phone to my satisfaction, so I decided to go to a different store. Store #2 IMMEDIATELY gave me a brand new phone, fully programmed, free of charge. After my ordeal with Store #1 (which, not entirely ironically, is now out of business), it is safe to say I will go to Store #2 from now on.

EOC - Week 1 - My Voice

As a photographer, it is my job to show the world in the most beautiful and authentic way possible. Every click of my camera's shutter is another chance to show my point of view, my perspective, my ideas. I hold those things very dear to my heart. As a student, I am in a wonderful position: I am, for the next two years, able to absorb and learn everything I need to know as a photographer, as an artist, and as a person as a whole. Each class adds another tool to my "toolbelt". My goal is to have a varied and full toolbelt by the time I graduate from the Art Institute. I can then use these tools for the duration of my career as a (hopefully) successful Wedding and Portrait photographer. Even more than use in my photography career, I plan on continuing my schooling after the Art Institute. My next goal is to go to business school to earn an MBA in Business Management. I feel that this degree would be, perhaps, the start of a new toolbelt for me that I can use in various areas of my life. The way I see it, there is so much the world has to offer. There are so many things to see, to do, to learn... The Beatles sang it best, "Nothing you can know that isn't known / Nothing you can see that can't be shown / Nothing you can be that isn't where you're meant to be". I completely agree with the Fab Four's idea here: You have the potential within you to do great things, to experience everything that there is to be experienced, to become everything you want to become, and to have the life you want. We are all in charge of our own destiny. I am going to make sure that I totally and completely fulfill my destiny as a photographer. I am in control of that. I am going to make that happen, one step at a time.