Market Mix: Promotion

"Considered by many to be the next big thing in social marketing, location sites like Foursquare and Loopt should be on every marketer's radar. Essentially, location-based social networking sites combine the fun of social networking with the utility of location-based GPS technology. (Lamb 349-350)" As such we would start out promoting our product on sights such as these and work towards getting our product name out there.

Because "Individuals tend to trust other people's opinions when it comes to purchasing. According to Nielsen Media Research, more than seventy percent of consumers said that they trusted online consumer opinions.  (Lamb 350)"  we would want to ensure our customers not only feel like they are getting a quality product for the price point that we want to receive.

Week 10 EOC: What are the benefits vs. the features

For many people when they think of chocolate, they think of cavities, acne educing, weight gaining, sweet tasting treat. What a lot of people don't know is that there are a lot of healthful benefits to chocolate. 

Here are ten scientifically established health benefits of good chocolate.

1. It's good for the heart and circulation

A recent study found that dark chocolate helps restore flexibility to arteries while also preventing white blood cells from sticking to the walls of blood vessels - both common causes of artery clogging.

2. It reduces risk of stroke

Researchers in Finland have found that chocolate consumption lowers the risk of suffering a stroke - by a staggering 17 per cent average in the group of men they tested.

3. It's mineral rich

Dark chocolate is packed with beneficial minerals such as potassium, zinc and selenium, and a 100g bar of dark (70 per cent or more) choc provides 67 per cent of the RDA of iron.

4. It reduces cholesterol

Consumption of cocoa has been shown to reduce levels of “bad” cholesterol (LDL) and raise levels of “good” cholesterol, potentially lowering the risk of cardiovascular disease.

5. It's good for your skin

The flavonols in dark chocolate can protect the skin against sun damage (though you'd probably better still slap on some sun cream).

6. It can help you lose weight

Chocolate can help you lose weight. Really. Neuroscientist Will Clower says a small square of good choc melted on the tongue 20 minutes before a meal triggers the hormones in the brain that say “I’m full”, cutting the amount of food you subsequently consume. Finishing a meal with the same small trigger could reduce subsequent snacking.

7. It's good for mothers and babies

A Finnish study found that chocolate reduced stress in expectant mothers, and that the babies of such mothers smiled more often than the offspring of non-chocolate-eating parents.

8. It may prevent diabetes

It sounds mad, but cocoa has been shown to improve insulin sensitivity. So dark chocolate - in moderation - might delay or prevent the onset of diabetes.

9. Chocolate is good for the brain

Flavanols are thought to reduce memory loss in older people, and the anti-inflamatory qualities of dark chocolate have been found beneficial in treating brain injuries such as concussion.

10. Chocolate makes you feel better

Chocolate contains phenylethylamine (PEA), which is the same chemical that your brain creates when you feel like you’re falling in love. PEA encourages your brain to release feel-good endorphins.

Week 9 EOC: My Creative Marketing

In 1513, the great explorer Ponce De Leon look for the fountain of youth, 500 years later, WE FOUND IT! Not only did we find it, but the best part is, it's CHOCOLATE!

Introducing "Fountain of Youth" Face cream!

The bio-active compounds in dark chocolate is great for your skin. Use those compounds for a smoother, softer, younger complexion. Chocolate has several ingredients which can potentially affect your skin. Cocoa beans, of which chocolate is made, are high in antioxidant phenolic phytochemicals (polyphenols), including flavonoids, procyanidin, and resveratrol.

It's also eco-friendly. Not only does it help you look younger but it helps you take care of the environment.

Try additional formulas: Cranberry Chocolate, Honey, and Avacodo.

Implementation, Evaluation, Control

The implementation we would use would be to have our product placed in a beauty shops and salons and we want our customers to associate their beauty being enhanced by the use of our product.

"Implementation is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives" (Lamb 28)
to do that we would price our product at a competitive rate and package it with testimonials from people that have used our product and love it.

"Implementing a plan has another dimension: gaining acceptance. New plans mean change, and change creates resistance. One reason people resist change is that they fear they will lose something". (Lamb 29) we would keep our product pure so those that have come to trust it and live by it will never be surprised at anything that might change in our recipe

Marketing Mix: Price

Keeping a price in mind that customers will not only see value but also quality in and since I am not a person that typically buys this type of item I am outside of my comfort zone. One thing I do understand though, as a guy, is quality over quantity. As the book states "Price is a component of value (a $4,000 handbag is perceived as being more luxurious and of higher quality than one selling for $100), but low price is not the same as good value. Instead, customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay." (Lamb 7)

Because "Lower-income consumers are price sensitive, but they will pay for products if they deliver a benefit that is worth the money"(Lamb 7) I plan on keeping the cost fairly low. The cost of face cream ranges from $30.00 up to $300.00, so I was planning on keeping the cost to around $40.00  

I am hoping that at this price it will develop a loyal base and after selling 100, 000 units we can re-evaluate how quickly the product sold and get customer feedback on the effectiveness of the face cream.

Marketing Mix: Distribution

Distribution wise I see this product starting out at only specialized stores such as Ulta or even Sally's Beauty Supply. The people that shop these type of stores are the ones that i would want to target for the simple fact that the people that shop there are typically the one that know quality and expect it.
"Place, or distribution, strategies are concerned with making products available when and where customers want them."  (Lamb 28)  I would also sell the product in spa's and even some women's hair salons because they don't just only do hair in these places anymore.

Once we have a stable clientele we would start investing back into the our product line and improve the formula as well as offer some additional "flavors."

Wanting to keep to the idea of "The best marketing tactic is to protect existing market share by reinvesting earnings in product improvement, better distribution, more promotion, and production efficiency. Management must capture new users as they enter the market." (Lamb 18) we would ask our first time users for informational feedback.