Final Project: SWOT anaylsis

 A marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)

The strength of Verb vodka is its pricing as well as its openness to promote sexual responsibility as well as drinking responsibility,. Verb vodka’s weakness is the fact that it is so new and that it’s taking such a bold stance out the gate. Verb vodkas openness can be a major opportunity in the sense that it can open up future partnerships with condom companies. Our threats are all the condom companies that are against a partnership as well as the other mid level vodkas in our price range.

Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance.

Final Project: Target marketing stratagy

Geographic segmentation – based on location such as home addresses; Demographic segmentation – based on measurable statistics, such as age or income; Psychographic segmentation – based on lifestyle preferences, such as being urban dwellers or pet lovers.

Our target market at Verb Vodka is 18-30 year old African American male and females. Studies show the African American neighborhoods with the most poverty consume the most alcohol as well as have the largest teen pregnancy rates. We will use Psychological segmentation t encourage drinking but packaging it with condoms to help lower the pregnancy rate.

Final Project: Objectives

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.

The objective of Verb vodka is to provide the experience that comes with the consumption of the product consistently at a high level at an on demand basis, based upon rigorous demographics and constant contact with distribution centers as well as retailers.

Marketing managers and researchers must work closely together to define the problem and agree on research objectives. The manager best understands the decision for which information is needed; the researcher best understands marketing research and how to obtain the information. Defining the problem and research objectives is often the hardest step in the research process. The manager may know that something is wrong, without knowing the specific causes.

Final Project: marketing mix product

A firm can obtain new products in two ways. One is through acquisition—by buying a whole company, a patent, or a license to produce someone else’s product. The other is through the firm’s own new-product development efforts. By new products we mean original products, product improvements, product modifications, and new brands that the firm develops through its own research-and-development (R&D) efforts. In this chapter, we concentrate on new-product development.

Verb vodka is a completely original product/company. We provide consumer products and  our own R & D.

Products and services fall into two broad classes based on the types of consumers that use them—consumer products and industrial products. Broadly defined, products also include other marketable entities such as experiences, organizations, persons, places, and ideas.

Final Project: marketing mix distributiom

Companies often pay too little attention to their distribution channels, sometimes with damaging results. In contrast, many companies have used imaginative distribution systems to gain a competitive advantage. FedEx’s creative and imposing distribution system made it a leader in express delivery. Enterprise revolutionized the car-rental business by setting up off-airport rental offices. And Apple turned the retail music business on its head by selling music for the iPod via the Internet on iTunes.

Verb vodka will be distributed to liquor stores and clubs via truck and cargo plane depending on the regional demand. We will not own any of these vehicles we will contract out companies to handle these duties. This will help our cost effectiveness and overall efficiency in regards to timely turn around of products.

Distribution channel decisions often involve long-term commitments to other firms. For example, companies such as Ford, HP, or McDonald’s can easily change their advertising, pricing, or promotion programs. They can scrap old products and introduce new ones as market tastes demand. But when they set up distribution channels through contracts with franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Web sites if conditions change. Therefore, management must design its channels carefully, with an eye on tomorrow’s likely selling environment as well as today’s.

Final Project: marketing mix promotion

Sales promotion tools are used by most organizations, including manufacturers, distributors, retailers, and not-for-profit institutions. They are targeted toward final buyers (consumer promotions), retailers and wholesalers (trade promotions), business customers (business promotions), and members of the sales force (sales force promotions). Today, in the average consumer packaged-goods company, sales promotion accounts for 74 percent of all marketing expenditure

Verb vodka will utilize radio and print media for promotion. As well try to form partnerships with recording artist and nightclubs for exclusive promotion.  The typical radio and print ads will serve as supplemental promotion. We will invest most of time trying to establish a relationship with record companies and clubs for easy product placement as well as potential big names to give us brand recognition and association.

Sales promotion objectives vary widely. Sellers may use consumer promotions to urge short-term customer buying or to enhance customer brand involvement. Objectives for trade promotions include getting retailers to carry new items and more inventory, buy ahead, or promote the company’s products and give them more shelf space. For the sales force, objectives include getting more sales force support for current or new products or getting salespeople to sign up new accounts.

Final Project: marketing mix price

Even small differences in price can signal product differences. Consider a stereo receiver priced at $300 compared to one priced at $299.99. The actual price difference is only 1 cent, but the psychological difference can be much greater. For example, some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality. Some psychologists argue that each digit has symbolic and visual qualities that should be considered in pricing. Thus, 8 is round and even and creates a soothing effect, whereas 7 is angular and creates a jarring effect.

Verb vodka will go for the retail price of  $24.99 7.5L at your local liquor store for the chocolate and strawberry flavors and $34.99 for the rhino horn flavor. This will put us in the middle of the road as far as competition goes. The price was going to be lower but an executive decision was made to include two condoms thus raising the price $5.00 respectively.

Price says something about the product. For example, many consumers use price to judge quality. A $100 bottle of perfume may contain only $3 worth of scent, but some people are willing to pay the $100 because this price indicates something special.