I would like to take this opportunity to thank the class, and my teacher, Mr. Frank Pinto.
I truly enjoyed your class. I am not exactly the best at blogging, but I did enjoy learning from you outside of all of that. The presentations of your information was what I found most useful...not the blogging
Thank you once again
Michael
Wednesday, March 20, 2013
Target Market Strategy
Aiming for those who do not exactly frequent bars, the types that are science nerds, could be a large feat. OR, it could be completely genius.
Why?
Because if you market to those who are not comfortable in other places, they could eventually see themselves in this one, and make it their home.
"Good marketing companies know that they cannot serve all customers in every way. Instead, they need to focus their resources on the customers they can serve best and most profitably." (Marketing: An Introduction, pp.31)
And, when that moment comes for the nerds and geeks and dweebs to be comfortable....maybe even the owner has found his crowd to be comfortable in. haha
Why?
Because if you market to those who are not comfortable in other places, they could eventually see themselves in this one, and make it their home.
"Good marketing companies know that they cannot serve all customers in every way. Instead, they need to focus their resources on the customers they can serve best and most profitably." (Marketing: An Introduction, pp.31)
And, when that moment comes for the nerds and geeks and dweebs to be comfortable....maybe even the owner has found his crowd to be comfortable in. haha
Distribution
“Marketing success will require building relationships with other company departments, suppliers, marketing intermediaries, customers, competitors, and various publics, which combine to make up the company’s value delivery network.” (Marketing: An Introduction for Education Management Corporation, pg. 67)
“Whereas, large-scale retail chains dominate the U.S. scene, much retailing in other countries is done by many small, independent retailers.” (Marketing: An Introduction for Education Management Corporation, pg. 502)
Distro will be a bit tough from the opening days. So long as people like it, it could take off....But if they don't, we could completely tank. Again, I would stay with a street team of nerd cute girls, and send them to the campuses...maybe secret insights at some other bars and try to attract them over to my bar. the biggest thing about my location, is we are just about the only one in that immediate area. Other bars are not across the street or anything like that. Distribution will rely on how the crowd reacts.
“Whereas, large-scale retail chains dominate the U.S. scene, much retailing in other countries is done by many small, independent retailers.” (Marketing: An Introduction for Education Management Corporation, pg. 502)
Distro will be a bit tough from the opening days. So long as people like it, it could take off....But if they don't, we could completely tank. Again, I would stay with a street team of nerd cute girls, and send them to the campuses...maybe secret insights at some other bars and try to attract them over to my bar. the biggest thing about my location, is we are just about the only one in that immediate area. Other bars are not across the street or anything like that. Distribution will rely on how the crowd reacts.
PROMOTION!
“…the company designs promotion programs that communicate the value proposition to target consumers and persuade them to act on the market offering.” (Marketing: An Introduction, pp.31)
Promotion means activities that communicate the merits of the product and persuade target customers to buy it. (Marketing: An Introduction, pp.54)
My promo will be right from the opening gates. And from previous posts, I will draw to those in the science field to begin with. One thing I will do, is make sure the bartenders are in dorky outfits that also promote a sexy spin to it. And the best way to promote is to get on maybe a talk radio program and do a segment, or simply hit the streets and do as much work as possible. Talking to the public and really drawing them in as a whole will go miles. If you are telling them what you are about before the fact that you even open, many people really love those home styled type of sales.
Promotion means activities that communicate the merits of the product and persuade target customers to buy it. (Marketing: An Introduction, pp.54)
My promo will be right from the opening gates. And from previous posts, I will draw to those in the science field to begin with. One thing I will do, is make sure the bartenders are in dorky outfits that also promote a sexy spin to it. And the best way to promote is to get on maybe a talk radio program and do a segment, or simply hit the streets and do as much work as possible. Talking to the public and really drawing them in as a whole will go miles. If you are telling them what you are about before the fact that you even open, many people really love those home styled type of sales.
$$$$ Price
“Although costs are an important consideration in setting prices, cost-based pricing is often product driven. The company designs what it considers to be a good product, adds up the costs of making the product, and sets a price that covers costs plus a target profit.” (Marketing: An Introduction, pp.276)
“Consumers at all income levels—including affluent consumers—are cutting back on their spending and seeking greater value from their purchases.” (Marketing: An Introduction, pp.179)
“More and more, marketers have adopted good-value pricing strategies—offering just the right combination of quality and good service at a fair price.” (Marketing: An Introduction, pp.277)
The overall pricing of the store will vary, depending on what you order of course.... Basic burgers and fries will range from 5-8 dollars finger foods will range from 3-6 dollars drinks will range from 2-15 dollars, depending on the variety of drink, of course And, on weekends, there will be a cover charge, along with on paperview events as well
“Consumers at all income levels—including affluent consumers—are cutting back on their spending and seeking greater value from their purchases.” (Marketing: An Introduction, pp.179)
“More and more, marketers have adopted good-value pricing strategies—offering just the right combination of quality and good service at a fair price.” (Marketing: An Introduction, pp.277)
The overall pricing of the store will vary, depending on what you order of course.... Basic burgers and fries will range from 5-8 dollars finger foods will range from 3-6 dollars drinks will range from 2-15 dollars, depending on the variety of drink, of course And, on weekends, there will be a cover charge, along with on paperview events as well
SWOT Analysis
"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."
(Pg. 55)
"SWOT, which evaluates the company's overall strengths (S), weaknesses (W), opportunites (O), and threats (T).." (Pg. 55)
“Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand… The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities.” (Marketing: An Introduction, pp. 56)
S- The Universe bar will be a unique experience to visit We will host science trivia We also will host all types of sports games on the televisions
W- We are sort of a smaller target market
O- We still have an opportunity to grow within the community. The longer we are open the more the word will spread, and hopefuly create more patrons
. T- Because this location is one that has closed down already, odds are that it will follow in its footsteps, even with a kool unique idea like this
"SWOT, which evaluates the company's overall strengths (S), weaknesses (W), opportunites (O), and threats (T).." (Pg. 55)
“Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand… The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities.” (Marketing: An Introduction, pp. 56)
S- The Universe bar will be a unique experience to visit We will host science trivia We also will host all types of sports games on the televisions
W- We are sort of a smaller target market
O- We still have an opportunity to grow within the community. The longer we are open the more the word will spread, and hopefuly create more patrons
. T- Because this location is one that has closed down already, odds are that it will follow in its footsteps, even with a kool unique idea like this
Week 10 EOC: Promotion w/o Discounting
The way to do a promotion for a bar like this is to basically open it and see who comes in. We will have established social media presence, as well as running a radio spotlight.
But how will we get our first customers in the bar? I would like to go to the campuses and promote, especially to those science majors. I believe they would find this place to be one of their favorites, simply on the case of it being so unique.
With a ton of work to put in, these original ambassadors will create the flow of traffic, along with hitting the streets with all of the flyers I can possibly hand out or mail out
But how will we get our first customers in the bar? I would like to go to the campuses and promote, especially to those science majors. I believe they would find this place to be one of their favorites, simply on the case of it being so unique.
With a ton of work to put in, these original ambassadors will create the flow of traffic, along with hitting the streets with all of the flyers I can possibly hand out or mail out
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