7-2 Project Marketing Plan Components PDF

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MKT 205 Marketing Plan Strategy Template Complete this template by replacing the bracketed text with the relevant information for your marketing plan strategy.

Product Selection semisweet chocolate baking chips Persona (Target Market) My target market is people of all ages who can find enjoyment when eating chocolate. it is used to make so many things. the number one in my eyes being cookies. That paired with a glass of milk to dip them in and you have something very hard to turn down. They can be made in different ways to fit the customer's preference. you can melt them to go on ice cream. they can be made into a fondue for people to dip things in. the ways to use them are endless. For Demographic Characteristics, the Chocolate chip is best known for being on the cookies in the united states. It is enjoyed by all ages because it is just something you can always share with the family. More than 53% of the united states love chocolate chip cookies. 18-44 is the more concentrated group of Americans who love Chocolate chip cookies. For Psychographic Characteristics, hobbies and interests for semisweet chocolate baking chips can go into baking. someone who likes to use them to makes a different kind of chocolate goodies for people and loves doing it. For the wants, it is a matter of mood for what people want to but so having different types helps to connect with what each person wants. for buying behavior, it can be what the time of year it is. for instance, around Christmas and valentine’s day, people are buying a lot of semisweet chocolate baking chips for cookies and other sweet things to make for others. The preferences can be in what kind of product they are looking for because that is just how they like it, and they know it will be good that way every time. The lifestyle part is. Promotion

The First Marketing channel would be using websites. People of today spend more time in front of their phones or computer. That right there leaves a big green light to throw out all those advertisements for them to see. When they are running through all those different websites to buy and look up things, they can see all the products and services companies have to offer. For the persona, I chose to pick websites that seemed the best. the age range for the persona fits the channels very well. The generations of today grew up in technology so it seemed fitting to advertise on something they spent a lot of time on. The fact they have kids helps with getting the product because of their love for the product you are trying to sell them and the parents. The Second marketing channel would be social media for a channel. It has one of the largest ways to pass your product around to people without must spend too much money. Trying to fight for a spot at a certain time or place to see if people want it or not is in the past. having those people who can firsthand account for that product instead of just seeing a random review from a random account makes more sense. For the persona, I chose to pick Social media that seemed the best. the age range for the persona fits the channels very well. The generations of today grew up in technology so it seemed fitting to advertise on something they spent a lot of time on. The fact they have kids helps with getting the product because of their love for the product you are trying to sell them and the parents.

Price

With Target-market price sensitivity, it has a lot to do with the demand for the product or service which changes the price tag of the item or service. The factor is Demand. With the demand, they build everything off that. This in turn affects the price of the product or service. The price of the product tells whether a product is a luxury or a necessity. the pricing factor determines the price because it is all the background things that are involved in making the product or service. The cost of materials to make the product can influence price quite a bit. They must weigh out how much extra after the construction of the item to add where they can pay all the bills and still make a nice profit. They also must make sure the quality is good as well and the employees are paid well enough to put out good products. The advantage to economy pricing is your customers will always know the price of the product will always stay the same around the same affordable price, so it keeps the volume of the product going. The drawback to economic pricing is if the product does not keep a good volume going it is not making money for the company producing it. The advantage to economy pricing for my product is the fact that it is the most popular cookie in the US. It almost has its way of advertising itself with its taste and smell. The sweet taste and the different ways to eat them bring so many people in to talk about the product. the drawback would have to be if the recipe for the cookies is not good enough that when they are eaten the customer does not want to buy the product anymore and tells others to stay away. There are also people who want convenience over quality. It is faster for people to get the premade ones over the nice, delicious homemade ones that every love to eat. Place (Distribution Channels) A change I would make is making sure I get the cookies out there more so that people can try them for themselves and not just seeing them in a commercial. It would change it in the way that people would be more inclined to buy them more often. The best way in the food market for anyone to really like something if there not sure is to sample them. That would see for themselves whether that would increase the amount of product being bought. It might even draw more people into our target market. Getting those people who not really liked cookies as much to try something new and fresh. The best distribution would be the Retail channel. They fit better with the target market the cookies are trying to bring in to stay in. The store would market the product for you. That way they are pulling people in and getting them to buy the said product so you both make a profit. Making sure you get a good store is key because of the need for high flow of people to keep the product rolling with profit. Product The best way to market my Product would be to make sure it gets out there to the people. No one really wants to buy a food product without trying it now a days. Make samples available for them to try and see for them self how it is. Another way would be commercials so well thought out it makes the customers mouth water just thinking about them. With this product out on the market it would bring in more loyal followers. No one can resist a chocolate chip cookie and when people buy them, they will associate the cookies with the chocolate bliss brand. The commercials for the product will spread the word about how good they are and how you should go out and buy them now.

Evaluation I would study the reactions of the market to see how they are going. I would also make sure to study what the customers think of the product. Then there are the profits the product has gotten. You must see if the product is going good or bad. With the look into the profits of the product we get to see what the return on investment. The first quantitative collection tool would be the Quantitative Observation. The fact that it has simple research of the people to determine the outcome. It is cheaper than other methods. It is a quick one so people are more inclined to do it and give you feed back to help the product. A second one would be the quantitative surveys. It is just a base line multiple choice questions that you answer for the product so there can be changes made to fix or make better. It works well with large respondents. The first qualitative tool would be the Qualitative survey. In that you could get a more detailed picture of what you are looking for. The questions would be making thinks for personalized. The web-based surveys give you a chance to reach more people all over. Documental revision is the second tool I would use. It would give me a better look into my product to make the changes I need. It will give different Perspectives or any points of view. In using the documents to get that the best information to get my product to do better.

References Nag, Oishimaya Sen. “Which Countries Eat The Most Chocolate?” WorldAtlas, WorldAtlas, 27 Sept. 2018, www.worldatlas.com/articles/which-countries-eat-the-most-chocolate.html. Wilson, Stephanie. “Most Requested Chocolate Chip Cookies Ever.” 31 Daily, 4 Dec. 2019, www.31daily.com/most-requested-chocolate-chip-cookies/. Bloom, Beth. “Cookies.” Mintel, July 2019, reports-mintelcom.ezproxy.snhu.edu/display/968042/?fromSearch=%3Ffreetext%3Dchocolate%2520chip %2520cookies. Helix - Digital Marketing & Design Collaborator. “Fun Facts About America's Favorite Cookie.” The Cravory, The Cravory, 10 Nov. 2020, thecravory.com/blogs/the-cravory-the-ultimatecookie-experience-1/123677505-fun-facts-about-americas-favorite-cookie.

Waksman, Karen. “Choosing the Right Distribution Channel for Your Wholesale Business.” The Balance Small Business, www.thebalancesmb.com/choose-best-distribution-channel-for-yourbusiness-3502272....