Pitch

Our brand of vodka is made with the best of ingredients found from around the world. With water from the Antarctica and pomegranates from Africa to give it just a hint of that pomegranate taste. With it going through the process of creating a smooth velvety taste to it. We are calling it Red Velvet with a clear bottle to see the red color of it with ether a ruby or garnet colored gems lining the bottle in some sort of pattern.

Price

"Pricing new products can be especially challenging. Just think about all the things you’d have to consider in pricing a new cell phone, say the first Apple iPhone. What’s more, you’d have to start thinking about the price—along with many other marketing considerations—at the very beginning of the design process."(Armstrong & Kotler (2011). Marketing pg. 285). Like with everything else it will always be hard to find the right prices to put on a product but for the Red Velvet vodka we have decided to sell it for about $23-$28 and will have species for the holidays and New Years to increase sells of our product. We are doing this which is  what "Many companies that invent new products set high initial prices to “skim” revenues layer by layer from the market. Sony frequently uses this strategy, called market-skimming pricing (or price skimming)." (Armstrong & Kotler (2011). Marketing pg. 285). Which we will be able to do with what the bottle design is and with they way it is being packaged as well.

Distribution

“The firm uses several strategies to sustain rapid market growth as long as possible. It improves product quality and adds new product features and models. It enters new market segments and new distribution channels. It shifts some advertising from building product awareness to building product conviction and purchase, and it lowers prices at the right time to attract more buyers.” (Armstrong & Kotler (2011) Marketing: An Introduction pg. 262). Which will be right after Christmas in time for the New Year after that they will be able to only be able to ether buy it online or in one of the casinos as a gift. If bought online they will come in a specially made package just for our Red Velvet vodka. “The slowdown in sales growth results in many producers with many products to sell. In turn, this overcapacity leads to greater competition.” (Armstrong & Kotler (2011) Marketing: An Introduction pg. 262).This is something that has to be looked after so that we are not one of the ones that loses to the competition. That is way Christmas and New Years will be our best time to sell our product. Whether online or bought in the story each of them will come in there own special box made just for it, though as I said be for the one for the shipping will be a bit different from the one bought in the casinos and that’s only because it is being shipped in the mail.

Promotion

''The company launching a new product must first decide on introduction timing."( Armstrong & Kotler (2011) Marketing: An Introduction pg. 253). Which we think that around Christmas would be a good time to release our new vodka, with us targeting women it would be the perfect time to get it as a gift for someone. "Next, the company must decide where to launch the new product—in a single location, a region, the national market, or the international market." (Armstrong & Kotler (2011) Marketing: An Introduction pg. 253). With us launching the product around Christmas we will be doing so in a single location to start with and we will do advertising there as well as commercials to let others know about our product. We may even do a poster along with a radio commercial to introduce Red Velvet as a prize of some sort.

Product

"So far, for many new-product concepts, the product may have existed only as a word description, a drawing, or perhaps a crude mock-up. If the product concept passes the business test, it moves into product development. Here, R&D or engineering develops the product concept into a physical product. The product development step, however, now calls for a large jump in investment. It will show whether the product idea can be turned into a workable product." (Armstrong & Kotler (2011) Marketing: An Introduction pg. 251). After we get it into a workable product it will go through many taste tests to make sure that it has that velvety taste to it with a hint of pomegranates to it. "If the product passes concept and product tests, the next step is test marketing, the stage at which the product and marketing program are introduced into realistic market settings. Test marketing gives the marketer experience with marketing the product before going to the great expense of full introduction. It lets the company test the product and its entire marketing program—targeting and positioning strategy, advertising, distribution, pricing, branding and packaging, and budget levels." (Armstrong & Kotler (2011) Marketing: An Introduction pg. 252).

Target Market Strategy

“Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and even neighborhoods. For example, Wal-Mart operates virtually everywhere but has developed special formats tailored to specific types of geographic locations”, (Armstrong & Kotler (2011) Marketing: An Introduction pg177). This is also what our company is doing by localizing our advertising, promotion and sales to fit the needs of our customers and where they can buy our product. We are also using “Gender Segmentation: Dividing a market into different segments based on gender.” (Armstrong & Kotler (2011) Marketing: An Introduction pg177), as a means to target women from the ages of about 23 to 35 to sell our vodka to than to men.

Situation or SWOT Analysis

With the marketers of our Red Velvet brand of vodka we had to look everything that would ether help or hinder us as a company the reason this is always a good idea is because of the quote definition of what SWOT which is “SWOT Analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)” (Armstrong & Kotler (2011) Marketing: An Introduction pg55). This allows us to determine which is our strengths and weaknesses and allows us to fix our weaknesses and not to miss any opportunities that are presented as well as look for threats. Which is very important in case other companies try to compete with our prices and other such things that my harm our company. 

Objectives

Business Mission Statement

My mission statement for my business is “We combine strategic marketing with quality products and services at competitive prices to provide the best vodka for our customers.”