It's a wrap. I did it. Put all the pieces together of what in the beginning, 10 weeks ago, seemed a mystery. Thanks to my instructor, Michael Baker, who I had for the Web Development class here at AILV, who pretty much left us to do what we could on our own. And you know what? That works for me! Like a puzzle, the pieces eventually came together, and I learned as I went along. In the end, the site I will be turning in today is just a little different than what I envisioned. It started with lots of color, and now it is a black background. I just think black enhances any artwork on a page, and gives me the feeling of spaciousness, not being boxed in, which was definitely on the top of my wish list for creating a site. Here's what my thoughts were after many weeks of no social life, no family life, no love life and no sleep, as I got up this morning to finish up some last minute touches:
"So here it is 5 a.m. Last round before I turn my website in today at 1pm. And a video edit at 6pm. My children think I'm some sort of mad scientist, locked away in my office behind closed door all hours of the day and night, emerging only for more coffee, briefly nodding and smiling at those who are part of my family. They bring me food and water, and know not to ask me too many questions..."
Friday, June 18, 2010
Wednesday, March 17, 2010
Implementation - Evaluation - Control
Lemuria will be marketed mainly online with visual ads and motion graphics which appeal to users interactive experience. Here are 2 examples:
Marketing our product online will be extremely useful when it comes to implementation, evaluation, and control. “Data mining is used to find hidden patterns and relationships in the customer data stored in the data warehouse. It is a data analysis approach that identifies patterns of characteristics that relate to particular customers or customer groups. MKTG, Lamb Hair McDaniel. Pg. 299)
Because of Internet data mining, we will be able to use customer data collected from online sales to further improve and expand according to customer relationships. "Web-based interactions are an increasingly popular touch point for customers to communicate with companies on their own terms. Web users can evaluate and purchase products, make reservations input preferential data, and provide customer feedback on services and products,. Data from these Web-based interactions are then captured, compiled, and used to segment customers, refine marketing efforts, develop new products, and deliver and degree of individual customization to improve customer relationships. (MKTG, Lamb Hair McDaniel. Pg.297) The end result, and business mission statement hopefully will be realized after all the efforts put forth in production, marketing, and sales:
“To create and sell a unique and exotic essential body oil and fragrance, with a passionate commitment to using pure, natural ingredients and packaging while promoting a conscious awareness and respect for the universe, our planet earth, and all living beings.“
Image:
Video:
Because of Internet data mining, we will be able to use customer data collected from online sales to further improve and expand according to customer relationships. "Web-based interactions are an increasingly popular touch point for customers to communicate with companies on their own terms. Web users can evaluate and purchase products, make reservations input preferential data, and provide customer feedback on services and products,. Data from these Web-based interactions are then captured, compiled, and used to segment customers, refine marketing efforts, develop new products, and deliver and degree of individual customization to improve customer relationships. (MKTG, Lamb Hair McDaniel. Pg.297) The end result, and business mission statement hopefully will be realized after all the efforts put forth in production, marketing, and sales:
“To create and sell a unique and exotic essential body oil and fragrance, with a passionate commitment to using pure, natural ingredients and packaging while promoting a conscious awareness and respect for the universe, our planet earth, and all living beings.“
Pricing
Lemuria Essential Oil Pendant (with 1oz vile): $19.95
Lemuria Essential Oil 1 oz vile: 9.95
Lemuria Body Oil 4oz bottle: 12.95
The pricing strategy used will be cost plus mark-up. This is the opposite of competitive pricing. Instead of looking at the market, we will look at our own cost structure. Decide the profit we want to make and add it to our costs to determine selling price. Using this method will assure a certain per-unit margin, and it may also result in prices that are out-of-line with customer expectations, with similar products, however, we will be marketing this as a specialty item, and do not want our product to be considered a bargain item. Price will reflect the quality. “Customer value is not simply a matter of high quality. A high-quality product that is available only at a high price will not be perceived as a good value, nor will bare-bones service or low-quality goods selling for a low price. Instead, customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay.” (MKTG, Lamb Hair McDaniel. Pg.7)
Lemuria Body Oil and Lemuria Essential Oil can be sold separately, however, we will be marketing the two products together as a special package, known as ‘bundling’. The price together will represent more value than buying each item individually. “Price bundling is marketing two or more products in a single package for a special price. Price bundling can stimulate demand for the bundled items if the target market perceives the price as a good value.”(Lamb Hair. Pg.287) Bundling can also stimulate demand during a recession, if features are added to a bundle, consumers may perceive the offering aw having greater value. (MKTG, Lamb Hair McDaniel. Pg. 290)
Lemuria Essential Oil 1 oz vile: 9.95
Lemuria Body Oil 4oz bottle: 12.95
The pricing strategy used will be cost plus mark-up. This is the opposite of competitive pricing. Instead of looking at the market, we will look at our own cost structure. Decide the profit we want to make and add it to our costs to determine selling price. Using this method will assure a certain per-unit margin, and it may also result in prices that are out-of-line with customer expectations, with similar products, however, we will be marketing this as a specialty item, and do not want our product to be considered a bargain item. Price will reflect the quality. “Customer value is not simply a matter of high quality. A high-quality product that is available only at a high price will not be perceived as a good value, nor will bare-bones service or low-quality goods selling for a low price. Instead, customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay.” (MKTG, Lamb Hair McDaniel. Pg.7)
Lemuria Body Oil and Lemuria Essential Oil can be sold separately, however, we will be marketing the two products together as a special package, known as ‘bundling’. The price together will represent more value than buying each item individually. “Price bundling is marketing two or more products in a single package for a special price. Price bundling can stimulate demand for the bundled items if the target market perceives the price as a good value.”(Lamb Hair. Pg.287) Bundling can also stimulate demand during a recession, if features are added to a bundle, consumers may perceive the offering aw having greater value. (MKTG, Lamb Hair McDaniel. Pg. 290)
Promotion
“Promotion strategy in the introductory stage focuses on developing product awareness and informing consumers about the product category’s potential benefits. At this stage, the communication challenge is to stimulate primary demand for the product in general rather that for a specific brand. Intensive selling is often required to gain acceptance for the product among wholesalers and retailers. Specialty product demand educational advertising and personal selling to the final consumer.” (MKTG, Lamb Hair McDaniel. Pg. 155) Product awareness is a main objective that will be attained through intense online viral marketing; We will market Lemuria online with a website featuring a shopping cart where buyers can easily make a purchase and check out. We will list your product online in auctions, like eBay and put a link to our website so wholesale buyers can contact us. Video advertisements, websites, blogging, site linking, and social networking will be the avenues used to develop a marketing plan to suit our financial resources. Establishing a niche in the perfume market takes consistent effort over a period of time, and our first concern would be making the most of our limited marketing dollars. Through the Internet, we will utilize various avenues for direct-response marketing, which may start out small, and then expand our base as the product sells. "The Internet has become a solid advertising medium. Online advertising continues to grow at double-digit rates- well ahead of other advertising media. Researchers predict that by 2012, online ad spending will hit $61.3 billion and account for 18% of all marketing expenditures. Internet advertising provides an interactive, versatile platform that offers rich data on consumer usage, enabling advertisers to improve their ad target ability and achieve measurable results. MKTG, Lamb Hair McDaniel. Pg.235)
Place
“Opening an e-commerce site on the Internet immediately puts a company in the international marketplace. Sophisticated language translation software can make any site accessible to people around the world. Global shippers, such as UPS, FedEx, and DHL help solve international e-commerce distribution complexities. Currency conversion software allows companies to post prices in U.S. dollars, then ask their customers what currency they wish to owe for payment.” (MKTG, Lamb Hair McDaniel. Pg. 60.) Lemuria’s main distribution method will be through the Internet, however, we will use selective distribution through carefully chosen retail outlets. This selective distribution will help eliminate inventory issues, as the bulk of our orders will be placed online. “Selective distribution is achieved by screening dealers and retailers to eliminate all but a few in any single area. Because only a few are chosen, the consumer must seek out the product.” (MKTG, Lamb Hair McDaniel. Pg. 181)
Product
“One of the most important packaging issues today is compatibility with the environment. Some firms use their packaging to target environmentally concerned market segments. Products are packaged in ‘eco-friendly’ packages that do not rely on ozone-destroying aerosol propellants.” (MKTG, Lamb Hair McDaniel. Pg.141) Lemuria will be packaged with a well-developed, exotic theme that is compelling to the personality profile of the targeted market segment. All material used in packaging will be organic, recyclable, and environmentally safe. The uniqueness of the pouch, made of all-natural fibers, and the refillable crystal pendant containing Lemuria’s Essential Oil, will attract a first-time buyer, because of its aesthetic beauty. Both these packaging elements serve the dual purpose of container and fashion accessory.The type of plastic used for the bottle containing Lemuria’s Body Oil will not deplete the earth’s natural resources. “Many companies are replacing some of their plastic packaging with PLA products. PLA, or polydactyl acid, is a resin made from corn. This “corn plastic” can be formed into containers and packaging. PLA uses 65% less energy than conventional plastics, and generates 68% fewer greenhouse gases, and contains no toxins.” (MKTG, Lamb Hair McDaniel. Pg. 141) And, equally as important regarding our product, the quality of Lemuria’s fragrance itself will bring buyers back to purchase more. The mystique, elegance, earthiness, electricity, and originality will speak volumes for and about each woman who purchases Lemuria.
Marketing Strategy
“The first and foremost task in developing a retail strategy is to define the target market. This process begins with market segmentation. Successful retailing has always been based on knowing the customer.” (MKTG, Lamb Hair McDaniel. Pg.202) The target market for Lemuria is the baby boomer woman, who is extremely aware of society’s environmental and health issues. Her lifestyle includes alternative healing methods, metaphysics, meditation, and yoga. She has evolved from the hippie, love of child of the 60’s, and the wild child of the ‘70’s, into the successful, creative, intuitive, and centered woman of the New Millennium. She has weathered life’s ups and downs, and feels she is entitled to indulge her interests with passion and wisdom. Whether single, married, or divorced, she possesses self-confidence and inner strength. She gravitates toward clothing, accessories, and beauty products that reflect her body, mind, and spirit connectedness. “Personality and self-concept are reflected in lifestyle. Lifestyle characteristics are useful in segmenting and targeting consumers. Lifestyle and psychographic analysis explicitly addresses the way consumers outwardly express their inner selves in their social and cultural environment. Many companies now use psychographics to better understand their market segments.” (MKTG, Lamb Hair McDaniel. Pg. 76) During its introductory phase, Lemuria will be marketed as a specialty product, available only on the internet and selective retail outlets. Market specialization strategy will be implemented, targeting the particular market segment of the baby boomer woman, and offering that segment the introductory Lemuria fragrance products, followed by added products targeted toward the same market segment. “With a concentrated targeting strategy, a firm selects a market niche (one segment of a market) for targeting its marketing efforts. Because the firm is appealing to a single segment, it can concentrate on understanding the needs, motives, and satisfactions of that segment’s members, and on developing and maintaining a highly specialized marketing mix. Some firms find that concentrating resources and meeting the needs of a narrowly defined market segment is more profitable than spreading resources over several different segments.” (MKTG, Lamb Hair McDaniel. Pg. 107)
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