Price

The most important thing of this whole project of becoming of the production is the cost. The cost of making the corn nuts is around 3.46 dollars by the pound. for me to be able to get a professional to clean up my design of the bag will cost no more then around 80.00 dollars as well. The packaging will be cheaper then most because it is simple a plastic rapper so it is lighter then glass and easier to ship. To get my food packaged it will be around 8.5% of what it cost to make the snacks. labor will be the biggest concern it will be 38.5% of whatever the product makes.I am thinking of selling the snack at $4.00 at the bars I think that is a very reasonable price. 

Promotion

information

Disturbution

            My distribution plan is to advertise utilizing all available media outlets. I will use a small budget for television, radio, and newsprint advertising. However I plan on launching a large social media and web based advertising project. This will prove to be more cost effective, and it will get the word out to a larger demographic. My plan is to use QR codes on the packaging that will allow customers to scan them and be taken directly to our web page. Our web page will have a list of our distributors, and the ability for them to enter their zip code and find the closest distributer to them. We will also give customers the ability to order online, and have out product shipped directly to their front door, via Fed Ex, UPS, or any USPS. We hope to boost this option by offering special pricing for online and bulk orders; we are also looking at putting together special holiday and personalized packages. 162 I estimate we will need a 10,000 square foot distribution warehouse located adjacent to our production center. Short term plan is to distribute all orders out of this location. Long term goal is to have distribution centers in the west, central, and eastern parts of the US. Again I do plan to use assorted Parcel carriers to fulfill home, and smaller deliveries. For larger deliveries we are currently working on a shipping contract with an OTR trucking company that specializes in the shipping and warehousing of food products. We will work closely with this company to distribute to larger grocery chains, while continuing to maintain our goal of delivering a quality product on time, and at an affordable price.        

Product

My product is a bar snack. A snack someone can enjoy while sitting down after a long day at work and have a tall bottle of beer. It is simply corn nuts seasoned with Mexican chili peppers. They will be placed in a decent size bag with my cartoon design of Philieas Fogg on the front and also his great adventure on how he came across this wonderful snack. The flavor will be called "tango with mexico" I chose this name because when thinking of the tango people think hot, which makes sense since my snake is made with chili. Also the name is interesting it catches peoples attention if the story and the cartoon don't catch someones eye the name defiantly will. I hate when I open a bag of chips and it is basically full of air. My packaging will have more portions of food then air. I hope once this product does well I will be able to make more snacks and even produce more Philieas Fogg products. I have a good stable product that I wish to make it big and expand my horizons on it.

Target Market Strategy

Obviously my target market would be 21 years or older both men and females who enjoy the bar. Now how do I attract them to buy my product? I am thinking I could ask the bars I sell my product to, to advertise in their bars or in ads they put up. I also can make my own website or even just an article online. That would be the best way to do it to appeal to the younger people in that age group everyone is online almost once a day so that can get my product out there for a low cost. Another marketing way is word of the mouth have my product be really good to the point where people tell others about it that’s free marketing it won’t cost anything. These three ways or my basic market strategies they are very low cost or don’t cost anything at all. But also they are doing what I need them to do get the word out to my customers. I am going to start of slow and targeting just small bars and work my way up to a bigger range of bars.

Situation/SWOT Anaylsis

I believe marketing is the most fun part of making a product. It involves a lot communication with my customers and it helps me share what I can bring to the marketplace in a creative way. Unlike most elements of my product, marketing does not have any boundaries. I can be very creative like for example by mapping out marketing plans and strategies. But before I begin any marketing campaign I would put together a SWOT analysis of my product. This basically stands for my products strengths, weaknesses, opportunities and threats. The plan or foundation is my product and the services I will be offering, along with my personal talents and abilities.  “Setting the right price is one of the marketer’s most difficult tasks. A host of factors come into play. But finding and implementing the right price strategy is critical to success.”  If customers see that my product has features that are different to the market, also offer great customer service, have lower prices, this would help my product grow. Making sure that each of these things are pointed out in my marketing pieces and speak about these strengths to both current and potential customers. Weaknesses are those elements that keep me from offering the same level of products or services as my competitors. That is something that the people I would be selling to wouldn’t be interested in and probably wouldn’t buy from me if I sound like the rest of the products I would be competing with. Determining my product weaknesses will help me to improve my products and services in the future. It wouldn’t be wise to point out my weaknesses when presenting my product to my future and present customers.

Objective

My objective for my product is to first start off small. With the local bars out here create a bond with the owners and with the people who would be shipping my product. In chapter it says “the firm must be good at adapting its marketing strategies in the face of changing tastes, technologies, and competition as products pass through life-cycle stages.” This is what I plan on doing with my product I plan to be firm locally. Then I plan on taking my business nationwide. “The development of original products, product improvements, product modifications, and new brands through the firm’s own product-development efforts.” I plan on to start shipping my product out of state to other bars in the U.S. This will give me enough money to improve my snack. Maybe make different flavors, but them in bigger bags. It will all be a part of my new-product development. I will upgrade a lot and be able to network with different states and see how they enjoy the snack, and how their customers enjoy them. I am hoping it will be at hit and the bars will start coming to be for more of my snacks. I plan on being here in the next 2 years I would like it to grow.