Price

When it comes to pricing your product, the ultimate judgement lies with the consumer. We here at #moment vodka value excellence. No matter what the state of the economy, companies should sell value, not price. In some cases, that means selling lesser products at rock-bottom prices. But in most cases, it means persuading customers that paying a higher price for the company’s brand is justified by the greater value they gain. 

Promotion

Promotion strategies for alcoholic beverages can be tricky. One shouldn't suggest party by intoxication, but that's all we really want to do. As a promoter, key factors can generate adequate buzz for your product. An  unique combination of quirky products and low prices produces so much word-of-mouth promotion that the company doesn’t really need to advertise. 

Product

My product is an experience. The content of the vodka, the way it is distilled and filtered are my product. The geyser spring water used in its dilution is my product. The laser cut glass bottle is my product. Every detail that went into #moment vodka is my product.  

Target Market Strategy

A proper marketing strategy must be in place in order to implement projected sales and profit gains. #moment vodka has tapped into the "digital well", and discovered infusing advertising with the experience of enjoying. These days, most advertisers are scrambling to make sense of the Web and other digital media, everything from Web sites and online social networks to Webisodes and viral video. #moment vodka values the strength of a strong social media following. By encouraging consumers to capture their #moment with #moment vodka, the brand has the potential for marketing itself on all major social outlets not just through partnerships, but through the millions of users. The digital revolution has created a kind of “media divide,” pitting traditional media such as television and magazines against the new-age digital media.  

Business Mission Statement

What is ur #moment? #moment vodka is derived from excellence to value very #moment

Week 7 EOC: The Pitch

What's your #Moment? #Moment vodka is an interactive experience that combines your social life with social media. Picture this. It's dusk; the vibrant colors of the sunset illustrate the perfect backdrop. With the bonfire blazing, casting dancing light, you and some friends celebrate, nothing more than life itself. It's these moments that we capture and immortalize. 

Week 6 EOC: Movie Promotion

The movie I decided to promote is "After Earth." According to the text, market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.When it comes to promoting a movie, one should first take into consideration the genre of movie. "After Earth" is a Sci-Fi/ Action Thriller, meaning the target audience is action seeking through visual effects. With a PG-13 rating, demographically this movie is intended for "tweens" and older. The release date of May31, 2013 is after the holiday but coincides with the Memorial Day and the box office summer season. According to the text, there is no single way to segment a market.How I would go about promoting this film is by first using its star power. Will and his son, Jayden, are familiar with promo tours, and can generate a healthy buzz by doing interviews, both traditional and  through social media. I would become an official sponsor for the NBA Playoffs so the movie trailer edits into the highlights before each commercial break, and prime time television slots as well. Social media advertising via Facebook, Twitter and Pandora. Develop interactive website to encourage fan and moviegoer participation. Make movie trailers short, fast and exciting, focusing not on the whole plot but the action.

Week 5 EOC: Social Networking and Job Hunting

Word of mouth still is one of the best ways to market. "Thanks to modern technology, armed with little more than a video camera, laptop, and a cell phone, anyone can spread the word about products and brand experiences to thousands, even millions, of other consumers." (p143)  There's a new mouth to help get the word out, and that new mouth is social media. Companies are using, what they tagged, brand ambassadors programs, to organize and supercharge consumer-to-consumer interactions about their brands. These ambassadors of brand are everyday consumers who are passionate about their products to act as part PR agents, part sales reps, and part evangelists. So if this program worked for the goose, it should also work for the gander. According to the article by Joel Light,

More companies are trying to tap Facebook Inc.'s 750-million-plus user base to find new employees, threatening traditional job boards and competing with LinkIn Corp., which has dominated the online professional networking arena. Eventhough the use of job-recruiting is low, it's appeal is slowing increasing. I believe companies are adapting to find able candidates in an more efficient way, through a virtousouly endless pool of potential employees. Of course, like many things on the Internet, everything can't be reliable information, but with companies already trusting the Facebook brand, hunting for future employment can begin right where it left off, the social media.

 

 

Week 1 EOC: Great Customer Service

So what is great customer service? Let's break it down. Okay, first we have to realize what a customer is and who we want our customer to be. Secondly, we must figure out that customer's wants and needs to be able to provide the best possible service. Lastly, the services rendered should in turn create a relationship that should last long after the initial service experience. In order to deliver great customer service, you must know your target customer. This is important because knowing who you want to service better gives you the right plan of action needed to develop a product for your customers. Once you have figured out who, finding out their interests, likes and dislikes will allow you to come out with a service specific for your clientele. Building that lasting relationship depends on your attitude toward providing excellent service and the commitment to consistently deliver that service. Great customer service isn't about the selling, it's about the people.

Week 3 EOC: My Demographics

Millennials. Both the baby boomers and Gen Xers will one day be passing the reins to the Millennials (also called Generation Y or the echo boomers). Born between 1977 and 2000, these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger even than the baby boomer segment. This group includes several age cohorts: tweens (aged 9–12), teens (13–18), and young adults (19–32). With total purchasing power of more than $733 billion, the Millennials make up a huge and attractive market.
-Millennials have fluency and comfort with digital technology.
-Millennials were the first generation to grow up in a world filled with computers, cellphones, satellite TV, iPods, and online social networks.
-91 percent of Millennials are on the Web, making up 32 percent of all U.S. Internet users.
-77 percent of Millennials frequent social networking sites and 71 percent use instant messaging.
It's true. The Millennials are the digital generation. Without technology busting at the seams entering the 2000s and the way of life it brings, the purchasing power wouldn't be that great in numbers. I agree with the ability to use social media has shifted marketing strategies to focus on multiple facets of the consumer's needs.

Week 3 EOC: Making Money for Good

“This was the first time our company was involved in a program like this so we didn’t know what to expect,” said Scott Henderson, president of Living Essentials. “The response was overwhelming. We challenged 5-hour ENERGY® fans to make us write a big check, and they really came through. In October 2012, Pink Lemonade flavor 5-hour ENERGY® was released. Between October 1 and December 31, 2012,five cents of every bottle of Pink Lemonade 5-hour ENERGY® sold was donated to the Avon Foundation for Women Breast Cancer Crusade.The Avon Foundation for Women continues its search for new preventive strategies to address the growing number of breast cancer cases around the globe. To develop new strategies to prevent breast cancer, we need to understand the causes of breast cancer in people, changes in breast cells that give rise to cancer, markers for disease, and how breast cancer progresses (avonfoundation.org)An advertising campaign got the word out across national TV, radio and Internet. Response to the new flavor and its tie-in to a great cause generated such great demand for Pink Lemonade 5-hour ENERGY® that two additional production runs had to be ordered.