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.