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

Objectives

Developing the promotion budget by (1) defining specific objectives, (2) determining the tasks that must be performed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget. 12 Communicating Customer Value Advertising and... (page 23 of 53) The objectives at Fresh Fruit and Juice are pretty simple. Our main goal is creating a great relationship with our customers. In doing so, the employees here at Fresh Fruit and Juice listen to what the customers want and try to make the consumers have a fun, comfortable, and relaxing time. Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. 2 Company and Marketing Strategy Partnering to ... (page 32 of 43) A major goal has to do with financial situations. Fresh Fruit and Juice plans on selling most of our supplies in one day, meaning every day we need to buy fruits from our suppliers to keep up with the demands.

SWOT Analysis

When first starting Fresh Fruit and Juice we tried to think of our SWOT, meaning Strengths, Weaknesses, Opportunities, and Threats. Identifying the many different items in each category is very important.  It should analyze company strengths and weaknesses as well as current and possible marketing actions to determine which opportunities it can best pursue. The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats. 2 Company and Marketing Strategy Partnering to ... (page 32 of 43 Every business has much strength, and the fact that Fresh Fruit and Juice is the name of the food stand is guaranteed a few customers. At Fresh Fruit and Juice not only serves fruit slices, but juice made from only the fruits selected by the customers that are on the menu. A huge strength of the Fresh Fruit and Juice is that we only serve the fruits that are in season; meaning if the season was in the middle of winter, Fresh Fruit and Juice would not sell a fruit that is grown in the summer simply because that fruit will not grow in the winter. Serving fruits that are in season means we will not be serving fruit in fall that has been sitting around since Spring There are some drawbacks to any business. No matter how many strengths a company has, it will always have some weaknesses. A major weakness, that is also strength, is that Fresh Fruit and Juice only serves fruit that are in season. The problem with only serving in season fruits is that a fruit truck may very well not have a specific fruit on the menu that a customer wants; leading to fewer customers in certain seasons. "Assesses major threats and opportunities that the product might face, helping management to anticipate important positive or negative developments that might have an impact on the firm and its strategies."  2 Company and Marketing Strategy Partnering to ... (page 32 of 43) To being successful with anything a person does, they need to take advantages of all the opportunities in life and with their career. There are many opportunities with a fruit stand, such as the placing of the truck. When Fresh Fruit and Juice was deciding our locations, we deciphered the many location opportunities very carefully. Placing a fruit truck, or any other business, can either make or break it. Another opportunity Fresh Fruit and Juice took into consideration is the prices of our fruit supplier. If there is a major sale on certain fruits that a lot of people may like then the wise thing to do would be to take advantage of that sale. Threats, that word can be very cruel. A major threat for Fresh Fruit and Juice is the competition. The major competition for a fruit stand is that many people will often just go to the grocery store for fruit and completely pass on a fruit stand because Fresh Fruit and Juice does not sell a whole watermelon.

Target Marketing Stragety

Every successful business has a target marketing strategy. Which strategy is best depends on company resources. When the firm’s resources are limited, concentrated marketing makes the most sense. The best strategy also depends on the degree of product variability. Undifferentiated marketing is more suited for uniform products such as grapefruit or steel. Products that can vary in design, such as cameras and cars, are more suited to differentiation or concentration.6 Customer-Driven Marketing Strategy Creating V... (page 32 of 50) Fresh Fruit and Juice plans to target people who have to walk in the sun to get to their destination or people who wish to have a well-priced, quick snack that is healthy. The age group that the Fresh Fruit and Juice stands are targeting is typically 18 to 30. The typical age of college students is between 18 and 25, depending how much education needed for the career they are pursuing. People ages 26 to 30 might go out on the weekends to a park or for walks to think about the week or to spend time with their families. While out they might want a snack but don't want any of the fat and calories that comes with a fast food restaurant. If a Fresh Fruit and Juice is stationed at a park, the people ages 26 to 30 that would like a fruit snack would buy from that fruit stand.

Smart targeting helps companies to be more efficient and effective by focusing on the segments that they can satisfy best and most profitably. Targeting also benefits consumers—companies serve specific groups of consumers with offers carefully tailored to their needs. However, target marketing sometimes generates controversy and concern. The biggest issues usually involve the targeting of vulnerable or disadvantaged consumers with controversial or potentially harmful products. 6 Customer-Driven Marketing Strategy Creating V... (page 32 of 50 )

Product

A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives. 8 Developing New Products and Managing the Prod... (page 17 of 47)

Fresh Fruit and Juice is simply just a fruit stand. So you would think. Fresh Fruit and Juice is a fruit stand that sells seasonal fruit bowls filled with the fruits our customers wish to have. There will be two different sizes of bowls, small and large. The large bowl includes more pieces of fruit and the small bowl with consist of less pieces of fruit. Fresh Fruit and Juice customers will have a choice of seasonal toppings such as whip cream on their fruit. Whip cream will always be an option but in the fall there will be an option of caramel drizzled on top of the fruit, in the summer there is a choice of yogurt and so on. Fresh Fruit and Juice not only serves fruit slices and pieces in bowls, however, we also sell fruit juice. If a customer wishes, the employees on the Fresh Fruit and Juice trucks will blend together fruits that our customers might want. Fresh Fruit and Juice doesn't add any to our fresh fruit blended drinks unless requested. Our fresh fruit blended juice will be served in one of the three different sizes available. Our employees at Fresh Fruit and Juice ask customers if they would like ice to make their drinks colder or if they prefer to go all natural and shoot for no ice. Developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering. 8 Developing New Products and Managing the Prod... (page 17 of 47)

Promotion

Promotion is very important in creating a business. Sales promotion tools are used by most organizations, including manufacturers, distributors, retailers, and not-for-profit institutions. They are targeted toward final buyers (consumer promotions), retailers and wholesalers (trade promotions), business customers (business promotions), and members of the sales force (sales force promotions). Today, in the average consumer packaged-goods company, sales promotion accounts for 74 percent of all marketing expenditures. 13 Personal Selling and Sales Promotion (page 37 of 49) Without promotion, a person's business will not go anywhere. Here at Fresh Fruit and Juice we have thought of a few different ways to promote ourselves. Many different ways to promote a business is to use the internet. Fresh fruit and Juice has created a website listing what products we have at certain times of the year. On the Fresh Fruit and Juice website is a list of our locations and the days we will be at those locations. Our website also includes the list of prices of every item we sell. Another source of spreading the word about Fresh Fruit and Juice is to use social media like Facebook. A given promotion runs the risk of being lost in a sea of other promotions, weakening its ability to trigger immediate purchase. Manufacturers are now searching for ways to rise above the clutter, such as offering larger coupon values, creating more dramatic point-of-purchase displays, or delivering promotions through new interactive media, such as the Internet or cell phones.  13 Personal Selling and Sales Promotion (page 37 of 49) Fresh Fruit and Juice does have its own Facebook page and if a person wishes to like the page then that person will receive messages and notification of the fresh Fruit and Juice locations and the special that may be held around holidays. To catch some people’s eyes, Fresh Fruit and Juice will put our adds in health magazines. Sales promotions are found everywhere. For example, your favorite magazine is loaded with offers like this one that promote a strong and immediate response. 13 Personal Selling and Sales Promotion (page 37 of 49)

Distribution

When choosing a location for a business, the owner has to be picky and choose very carefully where to put their business. Companies often pay too little attention to their distribution channels, sometimes with damaging results. In contrast, many companies have used imaginative distribution systems to gain a competitive advantage. 10 Marketing Channels Delivering Customer Value (page 5 of 50) Like a lot of other things in creating a successful business, location could make or break someone. A very good location for Fresh Fruit and Juice on weekends would be the parks where families go to enjoy each other and have a day of fun. Fresh fruit just feet away when you are spending time with your family at the park is great because the families won't have to carry all the items necessary to slice their own fruit. A good place to have a fruit truck during the week is around the businesses around the time they are arriving and lunchtime. As people who work at a business’s walk into work they can stop at Fresh Fruit and Juice and order a small bowl of fruit and/or at lunchtime instead of going someplace that would take half of their break time, the employees could walk right outside and order a healthy, refreshing snack. Distribution channel decisions often involve long-term commitments to other firms. 10 Marketing Channels Delivering Customer Value (page 5 of 50)