Showing posts with label Final Project. Show all posts
Showing posts with label Final Project. Show all posts
Wednesday, February 27, 2013
Price
Prices are pretty simple
Drinks will vary
$6-$18
Popcorn will vary
$2-$6
Admission on weekends
$6-$10
A company can always increase customer satisfaction by lowering its price or increasing its services. Pg 17
Thus, rather than slashing prices, many marketers are holding the line on prices and instead explaining why their brands are worth it. Pg 27
Drinks will vary
$6-$18
Popcorn will vary
$2-$6
Admission on weekends
$6-$10
A company can always increase customer satisfaction by lowering its price or increasing its services. Pg 17
Thus, rather than slashing prices, many marketers are holding the line on prices and instead explaining why their brands are worth it. Pg 27
Promotion
Promotion
Promotion of Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it" Pg 54
"Developing separate marketing plans for the separate segments requires extra marketing research, forecasting, sales analysis, promotion planning, and channel management." Pg 188
Promotion of Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it" Pg 54
"Developing separate marketing plans for the separate segments requires extra marketing research, forecasting, sales analysis, promotion planning, and channel management." Pg 188
Distribution
Distribution
Distribution within the bar should be quick. Since we don't focus on bar food sales we wouldn't have to stress our fryers too much. Our main focus is on the alcohol. We want customers in and out so we have a higher return for tables and space.
Feedback is also a big thing that I would like to have in the bar. On the website people will be able to tell us how they enjoyed or not enjoyed their time at our bar. It will give us a measurement on how we should cater to our customers.
Market Penetration can spur growth through marketing mix improvements—adjustments to its product design, advertising, pricing, and distribution efforts. Pg 46
"The company also added direct-to-consumer distribution channels, including its own retail stores, Web site, and toll-free call center. Direct-to-consumer sales grew 47 percent last year and now account for more than 11 percent of total revenues." Pg 46
Product
Product
In order to have a successful bar I would have to really differentiate my bar from any other bar. As I said before it will consist of many independent film makers films being shown. That's one way to make it different. It will also serve up food you would normally get a movie theater. Popcorn would be one of them. It is incredibly cheap to make and it will sell.
Drinks will also be involved. Alcohol seems to be a great product to be selling in the bar. It will obviously make the most money so, alcohol will pretty much be the cash cow of the bar.
Bar food will also be included on our menu. However it won't be the focus. It would be available however, and it will be in small portions. The goal is to turn table around quicker so with that said, smaller portions would not only keep costs low but also satisfy the guest adequately.
"To deliver on its value proposition, the firm must first create a need-satisfying market offering (product)" Pg 13
"In positioning its product, the company first identifies possible customer value differences that provide competitive advantages upon which to build the position" Pg 53
In order to have a successful bar I would have to really differentiate my bar from any other bar. As I said before it will consist of many independent film makers films being shown. That's one way to make it different. It will also serve up food you would normally get a movie theater. Popcorn would be one of them. It is incredibly cheap to make and it will sell.
Drinks will also be involved. Alcohol seems to be a great product to be selling in the bar. It will obviously make the most money so, alcohol will pretty much be the cash cow of the bar.
Bar food will also be included on our menu. However it won't be the focus. It would be available however, and it will be in small portions. The goal is to turn table around quicker so with that said, smaller portions would not only keep costs low but also satisfy the guest adequately.
"To deliver on its value proposition, the firm must first create a need-satisfying market offering (product)" Pg 13
"In positioning its product, the company first identifies possible customer value differences that provide competitive advantages upon which to build the position" Pg 53
Target Market Strategy
Target Market Strategy
Our Target is simple. We want college students. It's really a place for a young crowd. Usually I would like to have a place where I could relax and have a drink with my friends and talk about upcoming films with.
Since we are catering to many of the independent film makers we would want to serve them what they are used to being around. Concession stand food! Including popcorn, candy, and soda. Except here you would be able to also get alcohol and bar food.
"The entire company obsesses over creating value for the customer and views itself as a bundle of processes that profitably define, create, communicate, and deliver value to its target customers…. Everyone must do marketing regardless of function or department.” Pg 48
"Place includes company activities that make the product available to target consumers"Pg 54
Our Target is simple. We want college students. It's really a place for a young crowd. Usually I would like to have a place where I could relax and have a drink with my friends and talk about upcoming films with.
Since we are catering to many of the independent film makers we would want to serve them what they are used to being around. Concession stand food! Including popcorn, candy, and soda. Except here you would be able to also get alcohol and bar food.
"The entire company obsesses over creating value for the customer and views itself as a bundle of processes that profitably define, create, communicate, and deliver value to its target customers…. Everyone must do marketing regardless of function or department.” Pg 48
"Place includes company activities that make the product available to target consumers"Pg 54
Situation and SWOT Anaysis
Strengths
Scripts strengths have to be that it is definitely different. It has everything a normal bar would have and it would also provide people with a great place to go. It really caters to the people in the film industry but it would also cater to many people all round in Las Vegas.
Weaknesses
Our Weakness would probably be that we would charge a cover fee. Not many people these days like having to pay cover. However, that could also be looked as a strength. As more and more people like what we provide, the more and more people would just want to come and not care what the price of admission is.
Opportunities
There are different Opportunities that we have as a bar catering to people in the film industry. Its a place where they can go. I know many people who would like to showcase their work but have nowhere to do it and have to wait for a film festival that is a long way in the year and don't have enough people to expose and show it to. Our bar would fulfill that need.
Threats
Obviously the other bars are threats. They are all different. My surrounding bars I'm competing with already have reputations for having a great bar and great people coming in. The only real threat I have is making sure people keep coming in to give us a chance. We don't provide coupons and we charge for admission. People don't really like coupons thrown at their face anyways so we won't force it, however, people would like to see what's new so that would hopefully give us a shot.
"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Pg 55
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." Pg 55
Scripts strengths have to be that it is definitely different. It has everything a normal bar would have and it would also provide people with a great place to go. It really caters to the people in the film industry but it would also cater to many people all round in Las Vegas.
Weaknesses
Our Weakness would probably be that we would charge a cover fee. Not many people these days like having to pay cover. However, that could also be looked as a strength. As more and more people like what we provide, the more and more people would just want to come and not care what the price of admission is.
Opportunities
There are different Opportunities that we have as a bar catering to people in the film industry. Its a place where they can go. I know many people who would like to showcase their work but have nowhere to do it and have to wait for a film festival that is a long way in the year and don't have enough people to expose and show it to. Our bar would fulfill that need.
Threats
Obviously the other bars are threats. They are all different. My surrounding bars I'm competing with already have reputations for having a great bar and great people coming in. The only real threat I have is making sure people keep coming in to give us a chance. We don't provide coupons and we charge for admission. People don't really like coupons thrown at their face anyways so we won't force it, however, people would like to see what's new so that would hopefully give us a shot.
"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Pg 55
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." Pg 55
Objectives
Objective
This is a statement of specific things a business would want to achieve. So our objective in "Scriptz" is to be the one stop bar for everyone but also give a place to independent filmmakers to network. Some business like to have acronyms for their companies like US Bank has S.T.A.R.T or Vdara Hotel has O.W.N. it. It is really all about having specific and achievable goals. The objective would state what the bar wants to not only achieve but gauge what they have already achieved in the past. Have a realistic goal in a realistic time frame.
Scriptz objective will be called A.C.T.I.O.N. (Active, Connecting, Timely, Interacting, Obtaining, Networking) It will be real easy to remember and also have a goal that everyone will want to have while working within the company.
"As with the other promotion tools, in considering when and how to use product public relations, management should set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results." Pg 406
"The company’s objective must be to manage “profitable growth.”" Pg 45
This is a statement of specific things a business would want to achieve. So our objective in "Scriptz" is to be the one stop bar for everyone but also give a place to independent filmmakers to network. Some business like to have acronyms for their companies like US Bank has S.T.A.R.T or Vdara Hotel has O.W.N. it. It is really all about having specific and achievable goals. The objective would state what the bar wants to not only achieve but gauge what they have already achieved in the past. Have a realistic goal in a realistic time frame.
Scriptz objective will be called A.C.T.I.O.N. (Active, Connecting, Timely, Interacting, Obtaining, Networking) It will be real easy to remember and also have a goal that everyone will want to have while working within the company.
"As with the other promotion tools, in considering when and how to use product public relations, management should set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results." Pg 406
"The company’s objective must be to manage “profitable growth.”" Pg 45
Business Mission Statement
A mission statement is a brief, short statement that aims the values of a company, organization, or individual. The Mission statement for my bar will be:
"Our mission is to make Scriptz your preferred bar destination in Downtown Las Vegas. We deliver outstanding service and quality beverages to make us your one stop bar. We believe in not only serving the people of Las Vegas, but also our creative individuals."
Pg 39 quotes:
" A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization."
Pg 41 quotes:
"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace. Too often, mission statements are written for public relations purposes and lack specific, workable guidelines."
"Our mission is to make Scriptz your preferred bar destination in Downtown Las Vegas. We deliver outstanding service and quality beverages to make us your one stop bar. We believe in not only serving the people of Las Vegas, but also our creative individuals."
Pg 39 quotes:
" A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization."
Pg 41 quotes:
"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace. Too often, mission statements are written for public relations purposes and lack specific, workable guidelines."
Tuesday, February 26, 2013
Week 7 EOC: The Pitch
My ideal bar will be different from any regular bar. It will not only serve alcohol but also serve what you would normally get at a movie theatre, that being Candy, Popcorn, Soda, etc. The bar is an independent movie bar. It will cater to many of the independent filmmakers of Las Vegas or around the world for that matter. It will be a place where many people from the industry can connect and network with. During the week it will showcase different films and shorts that independent filmmakers have made and want to show. During the weekend it will be a place where everyone can come to entertain and talk about films that have been shown. It will only show independent films and nothing that has been produced in Hollywood. Not many filmmakers have a place to network with so this will be a place they can do that. It will be located downtown Las Vegas and it will be for everyone to come to entertain friends and family but mostly people within the industry including of age students.
The bar will make money off of the traffic of the bar and location. It will also make money off of showcasing the independent films. Students with proper identification can get a discount on drinks. Ladies will get two for one drinks on weekends. General pricing for gentlemen at all times. The bar will also hold special occasion sporting events (SuperBowl, NBA Finals, Etc.) It will still serve everyone, not just people in the film Industry.
The bar will make money off of the traffic of the bar and location. It will also make money off of showcasing the independent films. Students with proper identification can get a discount on drinks. Ladies will get two for one drinks on weekends. General pricing for gentlemen at all times. The bar will also hold special occasion sporting events (SuperBowl, NBA Finals, Etc.) It will still serve everyone, not just people in the film Industry.
Subscribe to:
Posts (Atom)