The features of my product is that they are mixed nuts. So a benefit of that is that it is not a consistent flavor or texture. Although the nuts have the same salty, wasabi coating, the nuts themselves have their own unique flavor profile. Another feature is the salty, wasabi coating itself. So the benefit of that is that it will make a great bar snack. You'll want to wash down the spice of the wasabi and the salt down with a cold one of your preference. My product will also be made in small batches which is also a feature. A benefit to that is that this will make the product much fresher and have a nice crunch to it and not seem mushy like those cheap $0.59 bags of nuts. Another feature of my snack is that it is called Lucky Strike and are sold for $7.00. 7 is a lucky number in many cultures and along with the funny anecdote on the back, it adds to all the luck.
Friday, December 11, 2015
Friday, December 4, 2015
EOC Week 9: Food Adventure
Upon finishing a leisurely trip to Korea, Phileas Fogg decided to head east in his ship to the island nation of Japan. When Fogg finally docked his ship at the port, he was greeted by some of the most beautiful women he had ever seen. They were dressed in traditional Kimonos and had exquisite makeup. They brought him into a palace fit only for someone of great importance and they walked him into a sitting room, and offered him tea and snacks, but he declined as he had just finished some Korean BBQ he had brought in from Korea. Now, one thing you do not do in Japan is refuse any offerings given to you by your hosts. One woman nodded, smiled, and left the room closing the door behind her. Next thing you know, the walls to the room collapsed only to be replaced by walls of samurais. Now any of us would be quite frightened, but not Fogg, because little did the samurais know, Fogg had just received his 9th Degree Black Belt in Tae Kwon Do back in Korea. Fogg was ready. Immediately all the samurais simultaneously charged at Fogg, katanas ready to slice and dice him into pieces. Fogg jumped into the air causing all the samurais to collide into each other. Some were knocked out, others stabbed each other, but all were taken care of. Fogg didn't even have to touch any of the warriors. Then, Fogg heard clapping but could not source it. It was the emperor. He walked into the light and was quite impressed with Fogg's performance. The emperor was snacking on something. A mix of some sort and was incessantly consuming them to curb his smoking habit. "Whoever you are! You defeated my guards without even laying a single hand on them! You are a great warrior yourself. Please tell me, what are your greatest desires?" yelled the emperor. "I wish to know what you are eating as I am a connoisseur of fine snacks!" yelled Fogg. "Ahh, Mr. Fogg, just some mixed nuts. This recipe has been in my family for centuries passed down from the Buddhist monks to bring us luck. Commoners have no access to this. Being that you defeated my men, you seem worthy." From there, Fogg was introduced to the recipe of nuts that you hold right now.
EOC Week 9: Three Great Mission Statements
From our book, a mission statement is define as "A statement of the organization’s purpose—what it wants to accomplish in the larger environment" (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Page 2)
"Our business aims to please the customers by creating social channels for our customers. The brands that we offer will keep our customers entertained and connected. We utilize feedback as a priority in order to keep our product on the competing edge of the snacking industry"
This mission statement implies that they want their product to create a social experience for the consumer. They are also very concerned with getting feedback with the consumer to ensure that their product stays true to the consumers' request and to keep improving that.
"Our mission statement is to provide our customers with amazing quality tortilla chips that have been originally originated from Spain. We would like to provide our customers with a devouring chicken fajita flavor all in a bag of chips. We want to have our customers 100% satisfied with high quality flavors to ensure that we might be eating fajitas even though in reality they are tortilla chips."
This mission statement implies that they care about the quality of the product. They want to insure that the consumer will be COMPLETELY satisfied with their product and that's a great standard to hold yourself to. They are also very adamant on ensuring the consumer feels they're consuming chicken fajitas in potato chip form.
"Our company’s mission is to give anyone the ability to get a taste of delicacies from anywhere in the world. These snacks give some a taste of home while others a taste of wanting to travel. These snacks are meant to bring people closer whether it is intimately or just socially."
This mission statement implies that the product will transport you to that place where the food is native to. Not only are they selling a product, but they are selling an experience. The experience is the ability to "travel" to a country and experience their food at your own convenience. In addition to that, these snacks will help give you a better social experience if you choose to share the product with others.
Also stated from our textbook, "Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Page 2) These Mission statements are more along the lines of this quote and that is why I chose them.
"Our business aims to please the customers by creating social channels for our customers. The brands that we offer will keep our customers entertained and connected. We utilize feedback as a priority in order to keep our product on the competing edge of the snacking industry"
This mission statement implies that they want their product to create a social experience for the consumer. They are also very concerned with getting feedback with the consumer to ensure that their product stays true to the consumers' request and to keep improving that.
"Our mission statement is to provide our customers with amazing quality tortilla chips that have been originally originated from Spain. We would like to provide our customers with a devouring chicken fajita flavor all in a bag of chips. We want to have our customers 100% satisfied with high quality flavors to ensure that we might be eating fajitas even though in reality they are tortilla chips."
This mission statement implies that they care about the quality of the product. They want to insure that the consumer will be COMPLETELY satisfied with their product and that's a great standard to hold yourself to. They are also very adamant on ensuring the consumer feels they're consuming chicken fajitas in potato chip form.
"Our company’s mission is to give anyone the ability to get a taste of delicacies from anywhere in the world. These snacks give some a taste of home while others a taste of wanting to travel. These snacks are meant to bring people closer whether it is intimately or just socially."
This mission statement implies that the product will transport you to that place where the food is native to. Not only are they selling a product, but they are selling an experience. The experience is the ability to "travel" to a country and experience their food at your own convenience. In addition to that, these snacks will help give you a better social experience if you choose to share the product with others.
Also stated from our textbook, "Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Page 2) These Mission statements are more along the lines of this quote and that is why I chose them.
Implementation Evaluation Control
I've asked some friends about my concept of Lucky Strike Nuts. My friends are new to the 21+ world as am I. I personally would not buy my own product, to be honest. I think $7 for a bag of nuts is a little steep, but being a resident of Las Vegas, I know some bars have drinks that a quite overpriced. It does make sense to have a snack that can be a little steep in price at $7. Even if the nuts were organic, used all natural ingredients, I still think that's steep but that is just my personal opinion as I can be somewhat cheap when it comes to purchasing certain things. One friend was totally for the product. He believed that it would be a nice addition to those expensive bars and lounges as a bar snack. He enjoyed the anecdote I wrote about the history of how Fogg found the nuts in Japan. He also like the name and how it was $7.00. Some other friends thought it would be a disgusting snack, but that is because they do not like wasabi. They did like the concept though, and felt that at least here on the Strip in Vegas, it might sell.
Target Marketing Strategy
My target market for my product would be middle to upper scale bars. This product is not that cheap so for it to appear a cheap dive bar would not be appropriate. Also, it is designed for a younger group of people to enjoy, generally ages 35 and younger. Anyone who enjoys an Asian-inspired product, more specifically from Japan, would be targeted to buy this product too. When considering your target market for a production, you must consider product position. "The way the product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online., Page 172 Chapter 6)
Now we would want our Lucky Strike nuts to come off as a premium brand of food product.
Now we would want our Lucky Strike nuts to come off as a premium brand of food product.
Product
The product is a wasabi coated nut mix of almonds, peanuts, and cashews. The nuts are grown organically without pesticides, grown specifically for Lucky Strike Nuts, then all during the same day are roasted, coated with salt and wasabi, and bagged in the same day. The wasabi is also grown specifically for our product and small batches of the coating are made from real, fresh Japanese wasabi. The product relies heavily on the quality of ingredients, authenticity of flavor , and overall freshness. From our book, 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." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Page 172, Chapter 7). Our product satisfies a want and we also do want attention. We wish that all products our made to our standard of quality and authenticity in terms of ingredients. No chemicals that you cannot pronounce are used. Just exactly what you think was used, so for Lucky Strike Nuts, almonds, peanuts, cashews, wasabi.
Promotion
When promoting this product, the objective-and-task method will be used. The book states that "The most logical budget-setting method is the objective-and-task method, whereby the company sets its promotion budget based on what it wants to accomplish with promotion. This budgeting method entails (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget." (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10th Edition. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online. Chapter 12)
Ideally I would like to use celebrities and movie endorsements to use my product. This will ensure that the product is seen as premium if it is used by the right celebrity in the right movie. When seen in a major movie, the product will be further popularized and be bought solely of off curiosity for the product and novelty as well. People will want to have it just because a certain actor used it and it was in a movie. It would most likely cost millions to get this product in a movie to be used by an A-list celebrity in a feature film.
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