Final Project: Zen Vapors

Zen Vapors

Hypothesis

Zen Vapors gave me the opportunity to do some market research on a recent mod they’ve received and have not been able to sell many of. The mod is a copper mod for your mechanical vaping system. When seeing where Zen Vapors keeps this product located for sell, I came up with a hypothesis. If the copper mod was moved to the front near the cash register, more would be sold.

Survey

My hypothesis led me to conduct a survey of 50 customers during a Saturday afternoon at Zen Vapors. Nearly all of whom that were surveyed,  were young adults. This is what I found out:

A big portion of the people vaping has recently started from three months ago to three years ago. You can see when an individual gets started on vaping; they become a potential customer for years.

The majority of people vaping used to smoke cigarettes. Seeing this many smokers switch to vaping shows a possible trend in smokers switching to vaping. New vapors require a new mod, specifically a copper mod!

When getting into vaping, mods soon become an accessory. Ladies and gentleman alike want to have mods to match their personality or even their favorite outfits. The longer they’ve been vaping, the more mods they’ll acquire for every occasion.

Mod personalization isn’t as popular as I thought it would be. You can get your name etched in certain mods or even logos if you’re trying to promote while you vape. With personalization not being as popular, they’ll have more chance to sell the copper mod on the spot then to suggest personalizing it.

I was shocked to see as many people as I did who spend over $100 a month on vaping and literally nobody who spends under $20. People vaping are for sure spending money every month to enjoy the many flavors of vaping and in upgrading their vaping tools.

People vaping do their research! Very few people would normally listen to a shops advice; instead they prefer to plan out a purchase ahead of time. It still doesn’t hurt the shop to offer a customer a nice shiny copper mod!

It’s nearly even on vapors who keep shop loyalty up and vapors who like to explore the availability of other vape shops. Your loyal customers may not have seen the copper mod in the shop yet and anyone just passing through may find an interest in the mod as they check out and grab one.

Conclusion

I recommend moving the copper mods near the register to increase awareness of the product to everyone coming through Zen Vapors. People vaping spend nearly as much on vaping as the average smoker does on cigarettes, with a good percentage of the people vaping staying loyal to a specific shop they like. Knowing an average customer will purchase over five mods in their vaping life, the likability of selling more is high when the opportunity is presented right in front of them. 

Week 7 EOC: Final Product Pitch

I’ve gone around prospecting different stores, but have yet to lock down a store to do the market research project. I’m waiting for a response from Artifact, an antique type shop in Town Square. I also spoke to a Crystal shop on Eastern who I’m waiting for a response from. I’m thinking I would have to do market research for either one of them to help bring in costumers rather than sell an individual product. There is a company called Watch Me Rave that sells light up watches who would love some research done for their light up watch product. I don’t believe they have an actual storefront though. They sell their products at music events, festivals, and online. I’ve emailed Watch Me Rave to see if they’ve expanded into any shops, but if they haven’t I believe I could help them expand into some shops around town here or maybe in some different cities.

Even though I have yet to fully lock down a merchant, I’ve been speaking to multiple different places who would be interested in allowing me to do a project like this. I’ve ran into trouble with stores in a few different areas; if they were corporate they are really private about others doing market research, even private owned shops it was hard to get in touch with an owner or someone who could give me permission to do such a project, and some shops just did not want somebody surveying their customers. I think the most difficult part of this project is finding the merchant and what product to research. It’ll be exciting to get out and survey the people to try and make a company some money. I know upon completion of this product, I’ll be able to use the skills learned towards bettering my companies.

Final Project - Implementation Evaluation Control

Every month a sales analysis will be looked over comparing sale targets to actual sales made. A website will be created with a direct email to the corporate office so customers can email their complaints, concerns, and comments. A customer satisfaction survey will also be posted on the website to encourage customers to tell us how they feel about our product Puppy Chow and the company itself. “Satisfied customers buy a product again, talk favorably to others about the product, pay less attention to competing brands and advertising, and buy other products from the company.” Marketing An Introduction, Armstrong/Kotler Page 154. In every bag purchased, the same customer satisfaction survey can be found and mailed in by costumers who wish to share their opinion. A monthly, quarterly, and annual financial report will be collect and analyzed by the founder and CEO's of Delicious Delights to ensure enough proceeds are being made and given to the right places to help those in the Philippines. Quarterly market share evaluations will be made to evaluate how much of the current market is controlled by Delicious Delights and our competitors. “Rather than setting a high initial price to skim off small but profitable market segments, some companies use market-penetration pricing. They set a low initial price in order to penetrate the market quickly and deeply—to attract a large number of buyers quickly and win a large market share.” Marketing An Introduction, Armstrong/Kotler Page 286. If our goals aren't met after six months, we will analyze our market plan and come up with a new strategy to ensure our goals are met.

Final Project - Price

The prices we offer at Delicious Delights will be lower than anyone around. We will beat any competitor price by 10% off every bag. “The company can offer greater costumer value either by charging lower prices than competitors, or by offering more benefits to justify higher prices.” Marketing An Introduction, Armstrong/Kotler Page 53. Prices will start from $1.99 every ten ounce bag in stores or weigh out your own bag and only pay $0.18 every ounce. When buying mass quantities of Puppy Chow, special deals will be made with our whole sale retailers to ensure they get the best prices and services from our team players at Delicious Delights. Starting at $450.00 when you need ten pounds, $850.00 for twenty pounds, and as low as $1800.00 for fifty pounds. Puppy Chow will be sold as needed by customer.  We will be able to offer more of the product at better bargain prices then our competitors with no worries of losing money. “A company can always increase customer satisfaction by lowering its price or increasing its services.” Marketing An Introduction, Armstrong/Kotler Page 17.

Final Project - Promotion

Here at Delicious Delights we offer a wide variety of promotions. We'll keep a televised commercial running in major cities all across the United States. Promotion teams will also be deployed across America to get a direct response from costumers for their thoughts and feelings towards Delicious Delights and our main product Puppy Chow. Using networks such as Facebook and Twitter, we will be able to show millions across the world what our product is with constant adds being displayed through our companies pages. This will also promote what our companies about and stay connected in an easier way with our customers. “Marketers are working to harness the power of these new social networks to promote their products and build closer costumer relationships.” Marketing An Introduction, Armstrong/Kotler Page 143. The most recent promotion add being ran is our radio commercial. A fairly simple add, getting straight to the point, but it gets your mouth watering and you excited to hurry and get yourself a bag. Another major option we have to explore is promoting through apps and cell phone games. More and more people are getting phones, tablets, and other devices that give the option for apps and games. We will be displaying our adds through the app stores and apps themselves, reaching a larger audience everyday. Last is the word of mouth. We have no doubt Puppy Chow will be so good; customers won't help but to spread the good word. Our customers will be our biggest guaranteed promoters. In the first month we will also be offering a complimentary gift for the release of Puppy Chow. Just another reason to get people excited to try this amazing treat. “If the sales promotion period is to short, many prospects (who may not be buying during that time) will miss it. If the promotion runs too long, the deal will lose some of its “act now” force.” Marketing An Introduction, Armstrong/Kotler Page 437.

Final Project - Distribution

The target whole sale providers are the main grocery outlets across the United States. Starting in stores such as Whole Foods, Smith's, and Albertsons, then moving into larger stores from Wal-Mart to Targets. We want to have the United States covered in just a few months before moving internationally and having most the world covered before Delicious Delights yearly mark. “Few companies have the confidence, capital, and capacity to launch new products into full national or international distribution right away.” Marketing An Introduction, Armstrong/Kotler Page 253. Using the power of television, we want to reach the homes of millions with our adds and send everyone in the right direction to purchase our products. Whether that’s over the phone, online, or sending them to the nearest store that sells our product. “With the widespread distribution on cable and satellite television, the top three shopping networks combined now reach 248 million homes worldwide.” Marketing An Introduction, Armstrong/Kotler Page 454.

Final Project - Product

Our product Puppy Chow will consist of few ingredients. The main being cocoa beans shipped straight to Malaysia, Asia. “Consumers don’t just buy products, they buy the values and lifestyles those products represent.” Marketing An Introduction, Armstrong/Kotler Page 148. When they arrive we grind them down and make the chocolate ourselves. The peanuts we acquire are some of the freshest peanuts grown here in the United States. We want Kellogg’s brand to make the crispy rice cereal and sell to use at a cheap and reasonable price. Last is the butter we will be using. Another deal will be made, this time with Country Crock for the production of the butter needed. We want you to know you’re getting the best tasting treat when purchasing our product, always leaving you a satisfied customer. “The American Society for Quality defines quality as the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.” Marketing An Introduction, Armstrong/Kotler Page 214.

Final Project - Target Market Strategy

The value we are creating for our customers goes much further than just having an amazing tasting treat. We want everyone who buys a bag of Puppy Chow to have an experience like never before. The guaranteed cheapest prices we offer, will keep you coming back for more. “Consumers at all income levels—including affluent consumers—are cutting back on their spending and seeking greater value from their purchases.” Marketing An Introduction, Armstrong/Kotler Page 179. We get the richest chocolate from cocoa beans harvested straight out of Malaysia, Asia. Here at Delicious Delights we make the costumer number one. So if theirs ever a problem with any of our current or future products send it to our main office, with the issue noted and you'll be reimbursed 300%, for any issues caused by company or distributors. “In an increasingly connected world, people at all levels of the marketing system must work together to implement marketing strategies and plans.” Marketing An Introduction, Armstrong/Kotler Page 57. As an added bonus, you know all proceeds made from Puppy Chow gets sent over to help those affected by Typhoon Haiyan in the Philippines. After all those suffering are helped in the Philippines, we will start giving the proceeds to others who are in need. Your money is always going to help those in need when you buy from Delicious Delights.

Final Project - SWOT Analysis

After conducting the SWOT analysis, we have determined the strengths, weaknesses, opportunities, and threats that should be focused on. “Managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T).” Marketing An Introduction, Armstrong/ Kotler Page 55. Strengths include a big opportunity for more products, this will offer some major growth in the company. Next are the lower prices we offer with every bag purchased from Delicious Delights. Our biggest weakness seen is the lack of international operations we possess. In the year to come we will push to branch out all around the world. With the public focus on the Philippines, it's a big opportunity to spark a public interest in Delicious Delights to boost and greatly expand the company some more. The changing seasons will also be of some assistance to provide limited time special flavors. Last are the threats against the company. Our biggest is our rival snack, Muddy Buddies and the possibility of future snacks that will raise the competitive market. “Sales decline for many reasons, including technological advances, shifts in consumer tastes, and increased competition.” Marketing An Introduction, Armstrong/Kotler Page 263.

Final Project - Objectives

The target buyers Delicious Delights is to pursue will be all whole sale retailers, due to the fact they can distribute products effectively amongst the local populous. “Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources.” Marketing An Introduction, Armstrong/Kotler Page 39 I can sell to them in mass quantities at reduced prices, knowing my product will efficiently be distributed in a shorter amount of time. These whole sale retailers include, but are not limited to, Whole Foods, Smith's, Albertsons, and anyone else interested and excited to get on with Delicious Delights. Over the next year we will strive for nothing less than a 90% customer satisfaction rating and a fair average of $15,000 a month being provided to aid the Philippines. Our goal is to own a minimum of 20% of the market share for snack foods. “Finally, within individual units, marketing designs strategies for reaching the unit’s objectives. Once the unit’s objectives are set, marketing’s task is to help carry them out profitably.” Marketing An Introduction, Armstrong/Kotler Page 47.

Final Project - Business Mission Statement

Delicious Delights is providing a delicious and convenient snack to people of all ages. For enjoyment during snack time fun and any party you can think of having anytime during the year. We won’t just stop at Puppy Chow. Be prepared for more great snacks from Delicious Delights with the same great prices! “Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace.” Marketing An Introduction, Armstrong/Kotler Page 41. Also, all proceeds are going to be provided to help the relief aid to all those suffering in the Philippines from Typhoon Haiyan. All proceeds will be overlooked directly by the founder of Delicious Delights, Mr. Bagenstos himself, to ensure philanthropic efforts are being met, in order to satisfy the common concerns of shareholders. We believe the little shelter left standing after the Typhoon is not enough so with your help of purchasing our Puppy Chow, we will donate every proceed made to start in rebuilding all the lost homes in the Philippines. By the end of next year, we want most of the homes rebuilt and sturdy for families to move into. “Business and charity or public service don’t have to be mutually exclusive. In fact, when they come together, they can be very powerful.” Marketing An Introduction, Armstrong/Kotler Page 87. We aren't stopping there though, after homes are built we’re going to send clothes and other supplies to help getting the Philippines back on track. When the Philippines are finished being rebuilt the proceeds will continue to go to those in need. Treat yourself today with a bag of Puppy Chow and help those unable to even get out of the rain. 

Week 7 EOC: Marketing Pitch

My company Maker’s Me is proud to offer you Puppy Chow the greatest snack choice you can chose for any occasion. Don’t let the name fool you, this snack is far from being for puppies. Puppy Chow is rich in chocolaty greatness, reminding you of all the great childhood memories you once forgot and all the pleasures life has to offer.  From your first bite till your last, you won’t want to pass on a bag. “Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a produce, service, idea, or other object.” Marketing An Introduction, Armstrong/Kotler Page 8. We can cheaply mass produce Puppy Chow and have it in every Whole Foods in no time. The only ingredients involved are Chex mix, chocolate chips, peanut butter, butter, and powder sugar, making the price affordable for anyone to try. Bags from snack size when you’re on the go, up to five pound bags will be made for even your biggest get together. Winter season is coming to give us the chance to produce a limited time offer of peppermint and spearmint flavor Puppy Chow everyone’s mouth will be watering over. Don’t like the winter flavors or milk chocolate? Try the dark and white chocolate flavors or for those of you, who don’t like chocolate, grab our peanut butter flavor. Puppy Chow is great for everyone from kids and teenagers looking for something quick and delicious, to the adults throwing that unforgettable super bowl party. “The nation’s 36 million kids age 8 to 12 wield an estimated $30 billion in disposable income. They also influence an additional $150 billion that their families spend on them in areas such as food, clothing, entertainment, and personal care items.” Marketing An Introduction, Armstrong/Kotler Page 146. Here at Maker’s Me we believe in helping everywhere that needs help so on top of all the great things we offer with Puppy Chow, we will be giving all profits to help those in the Philippines. So wait no longer to awaken your lost memories and feelings of true pleasure with Maker’s Me Puppy Chow.