Doubloon Chocolate Treasures Radio Spot

Doubloon Chocolate Treasures Radio Spot

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

"Consumers around the world vary tremendously in age, income, education level, and tastes... How these diverse consumers relate with each other and with other elements of the world around them impacts their choices among various products, services, and companies." (Marketing: An Introduction, Armstrong/Kotler, pg 137)

My chocolate adventures do sport a wide variety of delicious caramel fillings and nougat accents wrapped up in the chest made of the finest quality milk and dark chocolate velvety wraps, but these are just features. However delectable and good these chocolates are, if that was all they gave you'd be no better off then getting a snickers bar or a milky way. My Doubloon Candies show you a new world of adventure and possibilities for each bite. You never known what you're going to jump into and you never know just how good they are until you take a bite. Inside the larger chest box you will find a dozen smaller chocolate chests ready to tell you their secrets right after you bite into the chocolatey goodness they each hold.

Implementation Evaluation Control

“The company should periodically survey buyers who have used the product and ask these questions: How do you like the product? Which specific features of the product do you like most? Which features could we add to improve the product?” (Marketing: An Introduction, Armstrong & Kotler, pg 215)

After release there should be a voucher for a digital survey placed in every chest that would be quite simple involving a grading system on how well the product satisfied your thirst for fun, the quality of the chocolate, and any ideas you had for improving the product as well as a comments and concerns section, an email, phone number and mailing address for any other concerns. On top of that there could be a code given upon completion of the survey for a 10% of coupon for your next purchase of Doubloon Chocolate Treasures.

“When customers buy a product, they exchange something of value (the price) in order to get something of value (the benefits of having or using the product).” (Marketing: An Introduction, Armstrong & Kotler, pg 276)

“A powerful form of segmentation is to group buyers according to the different benefits that they seek from the product.” (Marketing: An Introduction, Armstrong & Kotler, pg 182)

 We could also use any information on the purchasing habits of the card holders of those who buy our product via the stores they buy them from to find out if its the children themselves buying it, which would point to a teenager presence, or if a parental figure doing the purchases meaning that our product is being properly marketed to the bracket of 8-14.

Marketing Mix

“To estimate sales, the company might look at the sales history of similar products and conduct market surveys.” (Marketing: An Intorduction, Armstrong/Kotler, pg 251)

 My product  and it's history in the market place are known and unknown. There's always been chocolate confections with different ingredients inside but there's also always been a road map of sorts on the box to tell you what was inside those confections. There has yet to be a set of chocolates of identical size and color made with different innards for the purpose of making you enjoy the randomness of your choice. Each box will actually be a "chest" about 6 inches by 6 inches by 4 inches containing a dozen miniature chests.

“In the normal case, demand and price are inversely related; that is, the higher the price, the lower the demand.” (Marketing: An Introduction, Armstrong/Kotler, pg 283)

 The price for my product seeing as how it's a commonly purchasable and commonly consumed product would be set at an appropriate 8 dollars a box. There's no need to set my product price too high, and that leaves adequate room for product development and shipping.

“Consumers with limited budgets probably will buy less of something if its price is too high.” (Marketing: An Introduction, Armstrong/Kotler, pg 283) 

 

 “Consumer promotions are sales promotion tools used to boost short-term customer buying and involvement or to enhance long-term customer relationships.” (Marketing: An Introduction, Armstrong/Kotler, pg 434)

 

 The promotions for my product will be handled as thus; in all stores selling the product forthright there will be drawing contests for all children ages 18 and under eligible to enter. The drawing will need to include pirates and will be used as the mascot for the product. Whoever wins will get a free years supply of Doubloon Chocolate Treasures and the drawing will then be used as the mascot for the product hence forth. It gets children excited about the product and then it gets attention without sacrificing any profit margin.

 

 

Creative Content

Target Market Strategy

In order to go after the specific market we must first see what section we can best utilize. For lower income families looking for a reprieve from the dreariness of daily life we offer an escape. For upper middle and lower high class families we also offer a fun bit of time and enjoyment. "Companies need to consider many factors when choosing a market-targeting strategy. Which strategy is best depends on company resources. When the firm’s resources are limited, concentrated marketing makes the most sense." Marketing: An Intro, Armstrong/Kotler, page 192. The definition of concentrated marketing is as follows, "Concentrated (niche) marketing- A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches." Marketing: An Intro, Armstrong/Kotler, page 188. Since we are starting off fairly small going to local supermarkets and using radio advertisements only, concentrated marketing is where we begin. It employs a high risk high reward strategy. I however have full confidence in my product and my company and think that this risk is justifiable.

SWOT

“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, pg 55).

 

 The strengths in our product obviously come first for the ability for people to enjoy chocolate as everyone does. The second being the lure of not knowing what you're going to eat which leads to just an all around fun experience. A weakness is not having a super high quality product as it's not meant as a luxury item. This is a chocolate for kids and playful adults, not to lose yourself in the moment or as a reprieve from a bad day. An opportunity this has however is becoming a massive item to the children of the day, which then everyone is nostalgic about in times to come which leads to large purchases all throughout life. A threat to this product however is over indulgence from children leading to a backlash of health enthusiasts, or other child enticing products such as chips or sodas.

 

 

“Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives… The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities.” (Marketing: An Introduction, Armstrong/Kotler, pg 56)