“Customer relationship is the ultimate goal of a new trend in marketing that focus on understanding customer as individuals instead of part of a group. To do so, marketers are making there communications more specific. Customer relationship management design to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups.” (MKTG McDaniel ch. 19 pg. 293)
All of our potential employees will be required to take a written exam on the rules of being a great salesperson. So, if the potential employee passes this written exam, as well as meets all other requirements for the position he/she will have to take a paid four week long class on customer relationship management. This ensures that each employee will be well trained to sell our products by the time they begin actually working.
As for our customers, whether it be a single woman looking for a certain product to use for dating, or a loving husband looking for a nice valentines gift for his husband, we handle each customers needs individually by building rapport with them. We make sure we ask all the right questions, while not invading their privacy, to find out which product is right for them. If a customer has found a specific product that we have, but do not physically have in stock at the moment, there are numerous other retail stores that carry our products. We can have the product shipped to their home in a timely fashion, with the customer making payment right there. Or at the very least, we can direct them to another store right then and there to go pick up the product. We will even call that store and tell them to hold the product, while the customer goes to pick it up.
At the end of each employee shift each, they will be required to fill out a form stating how their day went with each customer, and whether or not they were satisfied. Also, they will have to write a short summary of who they feel was their most successful customer of the day. They will be required to learn and address each customer by name.
Evaluation: At the end of each month all of the employee forms that have been filled out will be reviewed and if it seems that a certain employee is not doing so well according to his forms, he will be given a strike, and upon his third strike, he will be asked to resign. In contrast, if an employee is evaluated as doing very well, he may get a raise. This will ensure that there is no employee that is hurting our sales, or more importantly, our reputation.
“A customer-centric company builds long-lasting relationships by focusing on what satisfies and retains valuable customers.” (MKTG McDaniel pg 295 ch. 19)
In conclusion, using the aforementioned techniques, we will ensure customer satisfaction, as well as employee discipline.
Monday, March 22, 2010
Sunday, March 21, 2010
Marketing Mix
Product: Our number one priority is satisfaction so you will love our company as much as we do. This perfume doesn't only have the best smell in the world but it also has a touch of Aloe Vera to sooth and moisturizes every sexy spot on a female body. This product has a mixture of flower blossom, rose lavender and jasmine. It’s never been tested on animals and the product is recyclable.
Place (Distribution): “place, or distribution, strategies are concerned with making products available when and where customers want them.”(MKTG McDaniel ch. 2 pg. 25) We decided as a company to target young adults 20 to 32 years old women. The fragrance will be sold at any outlet stores like Macy’s, JCPenny and others. We want to think like those young adults where we could get our hands on this new sexy fragrance. “The manufacturer tries to have the product available in every outlet where potential customers might want to buy it.”(MKTG McDaniel ch. 12 pg. 181)
Promotion: “Promotion’s role in the marketing mix is to bring about mutually satisfying exchanges with target markets by informing, educating, persuading, and reminding them of the benefits of an organization or a product.”(MKTG McDaniel ch. 2 pg. 25)
Our company strategy is to have an admirable appeal towards the consumers, so that they will buy the product. We will advertise in magazines with the sample of the smell, billboards and commercials. Having the right strategy like getting a celebrity to help promote the product will boost more rate of the product itself and the company. “Using personal information source: A personal information source is someone consumers are familiar with (such as a celebrity) or someone they admire or can relate to personally. Service firms may seek to simulate positive word-of-mouth communication among present and prospective customers by using real customers in their ads.” (MKTG McDaniel ch. 11 pg. 165)
Price: “Price paid is based on the satisfaction consumers expect to receive from a product and not necessarily the satisfaction they actually receive.”(MKTG McDaniel ch. 17 pg. 261) As for our company, we want the price to be the right value because our number one priority is satisfying the customers first. The perfume will be starting at $36.00 of 0.17oz. “Consumers are interested in obtaining a “reasonable price.” Reasonable price really means perceived reasonable value at the time of the transaction.” MKTG McDaniel ch.17 pg. 261)
Friday, March 19, 2010
Target Market
"Who are your customers? Who will buy your product? I am often surprised that otherwise savvy small business people either have no idea who will buy from them, or they assume that 'everyone' will.” (Marilyn Guille http://sbinfocanada.about.com/cs/marketing/a/targetmarket.htm)
As for my company LaFave’s, we are going to target young adult females between the ages of 20 to 32 years old, by using this effective solution, young adult females are more prone to become attracted to our perfume “lust”. Using this name is something young adult females can relate to, which in turn will have higher percentage sell rates in the retail business. “Age segmentation can be an important tool, as a brief exploration of the market potential of several age segments illustrates.”(MKTG McDaniel ch. 7 pg. 99)
Targeting these age groups I believe will help the product expand more. In addition, our generation right now is becoming more prone to strong, heavy, attracting smells that will offer variety to young adults alike. This will bring more customers into our business with the company name LaFave and the product name lust.
Since my fragrance is for women that shop at low costing retail businesses; Macy, Wal-Mart, Kmart, Sears, Target, Dillard’s, Ross, and other outlet stores are perfect for our perfume. Again we will have a higher percentage rate from our customers; also it’s where anyone can find LaFaves “Lust” anywhere and is perfect for the holidays. “men and women share similar motivations in terms of where to shop-that is, seeking reasonable prices, merchandise quality, and a friendly, low-pressure environment- but they don’t necessarily feel the same about shopping in general.” (MKTG McDaniel ch. 5 pg. 5)
As for my company LaFave’s, we are going to target young adult females between the ages of 20 to 32 years old, by using this effective solution, young adult females are more prone to become attracted to our perfume “lust”. Using this name is something young adult females can relate to, which in turn will have higher percentage sell rates in the retail business. “Age segmentation can be an important tool, as a brief exploration of the market potential of several age segments illustrates.”(MKTG McDaniel ch. 7 pg. 99)
Targeting these age groups I believe will help the product expand more. In addition, our generation right now is becoming more prone to strong, heavy, attracting smells that will offer variety to young adults alike. This will bring more customers into our business with the company name LaFave and the product name lust.
Since my fragrance is for women that shop at low costing retail businesses; Macy, Wal-Mart, Kmart, Sears, Target, Dillard’s, Ross, and other outlet stores are perfect for our perfume. Again we will have a higher percentage rate from our customers; also it’s where anyone can find LaFaves “Lust” anywhere and is perfect for the holidays. “men and women share similar motivations in terms of where to shop-that is, seeking reasonable prices, merchandise quality, and a friendly, low-pressure environment- but they don’t necessarily feel the same about shopping in general.” (MKTG McDaniel ch. 5 pg. 5)
SWOT Analysis
Situation analysis also known as SWOT Analysis. This is where you look at your firms and threats. You have to look at this before you can begin a marketing analysis.
“Markets generally cannot control the elements of the external environment. Instead, they must understand how the external environment is changing and the impact of that change on the target market.” (Ch3 Chapter Review MKTG McDaniel)
Strengths
• selling the smell to customers
• strong appeal to customers
• Sponsor ads/Partnership
Weakness
• Financial base
• Marketing skills to product
Opportunities
• To branch out
• To established a stronger relationship to the community more so to the buyers
• building a stronger foundation to support the company needs to market itself better to business consumers
• studying researching marketing building a foundation in creating business relation to other business consumer
Threats
• competing with top of the line products
• Economic downfall
“Markets generally cannot control the elements of the external environment. Instead, they must understand how the external environment is changing and the impact of that change on the target market.” (Ch3 Chapter Review MKTG McDaniel)
Strengths
• selling the smell to customers
• strong appeal to customers
• Sponsor ads/Partnership
Weakness
• Financial base
• Marketing skills to product
Opportunities
• To branch out
• To established a stronger relationship to the community more so to the buyers
• building a stronger foundation to support the company needs to market itself better to business consumers
• studying researching marketing building a foundation in creating business relation to other business consumer
Threats
• competing with top of the line products
• Economic downfall
Objectives
Without objectives, there is no basis for measuring the success of marketing plan activities.”(MKTG McDaniel ch. 2 pg.18)
Here are my objectives for my marketing activities. I stated how the product will be selling, how my product will be profitable, and also having a good customer satisfaction.
Our objective is to sell a million bottles of Lust between 2010 and 2011, so we can investigate different ways to improve for our next product.
Our objective is to attain 5% on each product so we can find the most erotic smell. Not longer than 2010 and 2011 we are ready to expand our investments again.
Our objective is to acquire the finest aroma that way we can have the number one rating customer satisfaction in the 2010-2011 and to obtain a 96% existing customer retail from 2010.
“However, what is best for one firm might mean selling one million pounds of cat food per year, whereas another firm might view “best” as having dominant market share.” (MKTG McDaniel Lamb Hair ch2. Pg.18)
Here are my objectives for my marketing activities. I stated how the product will be selling, how my product will be profitable, and also having a good customer satisfaction.
Our objective is to sell a million bottles of Lust between 2010 and 2011, so we can investigate different ways to improve for our next product.
Our objective is to attain 5% on each product so we can find the most erotic smell. Not longer than 2010 and 2011 we are ready to expand our investments again.
Our objective is to acquire the finest aroma that way we can have the number one rating customer satisfaction in the 2010-2011 and to obtain a 96% existing customer retail from 2010.
“However, what is best for one firm might mean selling one million pounds of cat food per year, whereas another firm might view “best” as having dominant market share.” (MKTG McDaniel Lamb Hair ch2. Pg.18)
Thursday, March 18, 2010
Week 10 10 facts about Volkswagen
In the show Mad Men, they were discussing about Volkswagen ad. Some of the guys like it but some don’t. The main character I believe his name is mr. draper, didn’t really like the ad so much. I guess he didn’t like how that company post their ad in a playboy magazine and plus they a full page of it. Then there were some guys who liked how the ad came with a different approached.
1. Volkswagen was created by a number of individuals in Germany. Also known as VW, this car manufacturer is headquartered in Wolfsburg, and its name means "people's car" in German. Established in the 1930s, the company went through a number of changes brought on by the effects of World War II and the postwar occupation period.
2.
Adolf Hitler first had the concept of creating a cost-effective car for the average consumer. He presented a design with features that would make it fuel-efficient and capable of having many interchangeable parts.
3. Ferdinand Porsche teamed up with Hans Ledwinka to develop the general image of the Volkswagen. Together, they designed the first concept of the famous Beetle and the iconic VW logo.
4. In order to fully establish the car company, the German government turned to the people to help create the factory. About 336,000 individuals contributed funds to build the cars ahead of time.
5. Volkswagen's early beginning was changed briefly during World War II to produce vehicles for the armed forces. The factory sustained significant damage when it was bombed at the end of the war.
6. Following the war, British Major Ivan Hirst was responsible for re-establishing the factory. He began producing a number of vehicles for the occupying forces and German officials. The first order, which was 20,000 vehicles, saved the company.
7. Volkswagen means “people’s car” in German.
8. In 1947, Volkswagen signed a deal to export cars to the Netherlands, and it was then that the car, now known as the Volkswagen Beetle became, available to the general public.
9. Volkswagen has been selling clean diesel-powered engines for the European market since 2003.
http://www.strange-facts.info/interesting-facts-about-volkswagen-cars
10. About one in one thousand VWs and Audis are certified for lemon claims. VW sold 338,000 vehicles in the US in 2002. Odds are, 338 of them will end up in a lemon claim.
http://www.myvwlemon.com/ubb/Forum13/HTML/000150.html
1. Volkswagen was created by a number of individuals in Germany. Also known as VW, this car manufacturer is headquartered in Wolfsburg, and its name means "people's car" in German. Established in the 1930s, the company went through a number of changes brought on by the effects of World War II and the postwar occupation period.
2.
Adolf Hitler first had the concept of creating a cost-effective car for the average consumer. He presented a design with features that would make it fuel-efficient and capable of having many interchangeable parts.
3. Ferdinand Porsche teamed up with Hans Ledwinka to develop the general image of the Volkswagen. Together, they designed the first concept of the famous Beetle and the iconic VW logo.
4. In order to fully establish the car company, the German government turned to the people to help create the factory. About 336,000 individuals contributed funds to build the cars ahead of time.
5. Volkswagen's early beginning was changed briefly during World War II to produce vehicles for the armed forces. The factory sustained significant damage when it was bombed at the end of the war.
6. Following the war, British Major Ivan Hirst was responsible for re-establishing the factory. He began producing a number of vehicles for the occupying forces and German officials. The first order, which was 20,000 vehicles, saved the company.
7. Volkswagen means “people’s car” in German.
8. In 1947, Volkswagen signed a deal to export cars to the Netherlands, and it was then that the car, now known as the Volkswagen Beetle became, available to the general public.
9. Volkswagen has been selling clean diesel-powered engines for the European market since 2003.
http://www.strange-facts.info/interesting-facts-about-volkswagen-cars
10. About one in one thousand VWs and Audis are certified for lemon claims. VW sold 338,000 vehicles in the US in 2002. Odds are, 338 of them will end up in a lemon claim.
http://www.myvwlemon.com/ubb/Forum13/HTML/000150.html
Friday, March 12, 2010
Week 9 $10 burger
Wow ten dollars worth of a burger at McDonald’s. The first thing I would do is have a meeting with the employee’s of the company and brainstorm about how to make the burger worth ten dollars. I would compare other burgers that McDonald have and the other fast food places. I believe the most important part of a burger is figuring out the right ingredients, for instances have seasoning on the meat, getting a very special sauce from a foreign country, changing the meat to lamb or buffalo or making the burger bigger than the others. Once the company has chosen the right ingredients for the burger it’s time to test it out. It usually best to test on a males because not much females have the right taste buds, I believe that female have the better sweet taste like chocolate candies and males have strong taste of junk food but it’s my opinion.
If the burger is a success then, it is time to promote it. Having a commercial and ads on a newspaper or billboards will help the company to let the consumers know that McDonald is having a new edition to their burgers. This of course having a celebrity is always a remarkable idea because it will have a big impact on the company.
Quotes: “A good strategic plan can help protect and grow the firm’s resources.”
“Few goods or services can survive in the marketplace without effective promotion.”
If the burger is a success then, it is time to promote it. Having a commercial and ads on a newspaper or billboards will help the company to let the consumers know that McDonald is having a new edition to their burgers. This of course having a celebrity is always a remarkable idea because it will have a big impact on the company.
Quotes: “A good strategic plan can help protect and grow the firm’s resources.”
“Few goods or services can survive in the marketplace without effective promotion.”
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