Target Market Strategy

According to Armstrong and Kotler, “to succeed in today’s competitive marketplace, companies need to be customer centered.” (Marketing: An Introduction, Armstrong and Kotler, p. 50) Therefore, it is important for a company to evaluate each potential target market and decide on which one will be the most receptive to the product. The first step to this is market segmentation. This involves “dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.” (Marketing: An Introduction, Armstrong and Kotler, p. 50) Then after the market is divided into different groups, these groups become market segments. “A market segment consists of consumers who respond in a similar way to a given set of marketing efforts.” (Marketing: An Introduction, Armstrong and Kotler, p. 50) For Elysian Vodka, since we sell a super premium, luxury brand, our target market would be older people (35 years old and up), who have sophisticated tastes and a social lifestyle, as well as a moderate to higher income level.

Situation or SWOT analysis

In order to manage a company’s marketing situation, the first thing that needs to be done is a SWOT analysis. According to Armstrong and Kotler, a SWOT analysis is “An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T).” (Marketing: An Introduction, Armstrong and Kotler, p. 55) “Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives.” (Marketing: An Introduction, Armstrong and Kotler. p. 55) For Elysian Vodka, one of our strengths would be our resources because the company has great connections and practices that allow us to use the best natural ingredients. Another strength would be our unique taste which comes from the type of grapes we use as well as our distillation process. “Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance.” (Marketing: An Introduction, Armstrong and Kotler, p. 55) In this company, our biggest weakness is that it is not very well-known. Although our product is of supreme quality, it is a fairly new brand that isn’t a household name quite yet. “Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage” (Marketing: An Introduction, Armstrong and Kotler, p. 55) One opportunity our company has is that it is a new name so we can create a hype around our product to get people interested in it. Also, our distinguishable and strong taste as well as our drink’s mystique can be appealing to high-end bars or clubs. “Threats are unfavorable external factors or trends that may present challenges to performance.” (Marketing: An Introduction, Armstrong and Kotler, p. 55) The biggest threat for our company is the amount of competition. There are so many brands of vodka and other alcoholic drinks that it may be a challenge to stand out from the others.

Business Objectives

In order for a company or business to be successful, strategic planning needs to be implemented before anything else. “Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.” (Marketing: An Introduction, Armstrong and Kotler, p. 39) The first step to strategic planning is to create objectives from the company’s mission statement. According to Armstrong and Kotler, “The company needs to turn its mission into detailed supporting objectives for each level of management.” (Marketing: An Introduction, Armstrong and Kotler, p. 41) Therefore, Elysian Vodka’s objectives include: 1. Create a different experience for our customers. 2. Use only the finest, all natural ingredients for our product. 3. Develop innovative ideas to better our product and company. These objectives are directly taken from the company’s mission statement and suit the vision of the company well.

Business Mission Statement

It is Elysian Vodka’s mission to deliver an experience unlike the ordinary. We want our customers to ascend to an elevated level of luxury by using premium quality components in all aspects of our product; from the finest natural ingredients, to the innovative fermentation and maceration processes, Elysian Vodka is smooth and strong, with an unparalleled refined taste suited for the gods.  

A mission statement is a statement of the organization’s purpose--what it wants to accomplish in the larger environment (Marketing: An Introduction, Armstrong & Kotler, p. 39). This mission statement shows that our business is making the best quality vodka, that our customers are people that value luxury and quality products, and that we strive to make a product that is paramount and fine enough for the gods. This mission is clear and defines our company’s purpose and we can use this to create objectives for our company. This is important because according to Armstrong and Kotler, “A clear mission statement acts as an “invisible hand” that guides people in the organization.” (Marketing: An Introduction, Armstrong & Kotler, p. 39)

Week 7 EOC: The Pitch

Elysian Vodka - the drink of the gods.

Smooth and strong, this drink delivers an elevated experience. Made with premium, quality products imported from around the world, this drink captures the prestige, luxury, and enchantment of a divine paradise.

Elysian Vodka is starts from natural raw ingredients of the highest quality. It’s primary ingredient are grapes that stem from the heavens. The high-altitude vineyards in Gaillac, France produce the grapes that provide Elysian Vodka with its unique, elegant flavor. The process used to turn these supple grapes into this supreme vodka is much like the process implemented by the top wine producers. The process involves chilled maceration, fermentation, and storage. It is fermented for two weeks to ensure the wonderful flavor, then distilled five times using artesian water imported from the luxurious valleys of the mystical Fijian islands. The finishing touch that provides its smooth texture is the final distillation. This distillation takes place in a beautiful, family-owned distillery in the Cognac country side, and uses traditional custom-made materials. It is through this precise and superior process, the world’s finest premium vodka, Elysian Vodka, is born.

Week 6 EOC: Movie Promotion

For this assignment, I have chosen to promote Monsters University. This movie is an animated prequel to Disney Pixar’s Monsters, Inc. The storyline follows how Mike and Sully met and went from not standing each other to becoming best friends. I think that this movie would appeal to both younger kids and young adults. It would obviously appeal to younger kids because it’s an animated Disney Pixar movie. However, I think it would also appeal to young adults in college. This is because when Monsters, Inc. was released back in 2001, most young adults in college now, were at right around the age of 8 (give or take a couple years) and fell in love with Monsters, Inc. like we did with Toy Story. Monsters, Inc. was part of our childhood, and seeing a movie where the characters are in the same situation they are, would definitely appeal to them. I think the best way to approach promoting and marketing the movie would be through demographic segmentation and psychographic segmentation.

In order to promote this movie to kids, I would use demographic segmentation. According to Marketing: An Introduction by Armstrong and Kotler, “Demographic segmentation divides the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.” (Marketing: An Introduction, Armstrong and Kotler, 177) In this case, I would market the movie based on age. For little kids, the first thing I would do is make cool toys for fast food chains like McDonald’s and Burger King to give away. Little kids love happy meals and little toys, and everyone knows that the movie is good if the toys are good. For the young adults, I would maybe create an Instagram, Facebook page, and Twitter. On the Instagram, I’d post pictures of the characters, maybe post a #throwbackthursday picture of Mike and Sully in college from the movie. On Facebook, I’d give updates on the movie, promotions, and characters. Lastly on Twitter, I’d create accounts for the characters and post funny remarks that sound like it’s actually them and that older kids would find witty and relate to.

For the older kids in college that I’d market this movie to, I would also go more off psychographic segmentation. “Psychographic segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.” (Marketing: An Introduction, Armstrong and Kotler, 179) Most of the Millennial generation loves personalization and things they can relate to. Therefore, I’d use social media to promote the movie, and encourage build that connection between the characters of the movie and the target market. I’d have people post things with hashtags promoting the movie to encourage others to use the same, which will then let their “friends” on their social media sites know and do the same as well.

Week 5 EOC: Social Networks and Job Hunting

In this day and age, where computers are everywhere and used by just about everyone, it isn’t hard to believe that social media is taking over. Digital solutions are now replacing things that used to be the “norm.” One example I’d like to talk about in particular is instead of going to a job fair at school or looking for a job posting on a job board like in the old days, more and more people are turning to social media sites, like Facebook, to find jobs.

The World Wide Web has allowed us to connect to people from all over, and social media sites have made it even easier to find and communicate with one another. It’s no wonder why employers are using these tools to their advantage. According to an article in The Wall Street Journal, “More companies are trying to tap Facebook Inc.'s 750-million-plus user base to find new employees, threatening traditional job boards and competing with LinkedIn Corp., which has dominated the online professional networking arena.” (“Recruiters Troll Facebook for Candidates They Like”, Joe Light) Although LinkedIn is known as a professional networking site, I believe that job recruiters and employers are turning more towards Facebook simply because it is more well-known. In addition, Facebook is more easily accessible and easier for the average person to navigate than LinkedIn, which also makes it more popular. “While VMware still relies on LinkedIn to recruit higher-level executive talent, Mr. Staney said that Facebook users tend to spend more time on the service and are easier to reach than LinkedIn users. Since February, the number of monthly active users on its Facebook page more than tripled to 11,000, he said.” (“Recruiters Troll Facebook for Candidates They Like”, Joe Light)

Not only job recruiters and employers have started to utilize social media to their advantage, but popular brands as well. “Companies such as JetBlue, Sony, Microsoft, and McDonald’s, among others, are now developing a new breed of brand ambassador programs that organize and supercharge consumer-to-consumer interactions about their brands.” (Marketing: An Introduction, Armstrong and Kotler, p. 143) These companies have employed regular people who love their brand and are social media site savvy to act as a hybrid mix of a PR rep, sales rep, and brand enthusiast. For their work on promoting the brand, these ambassadors product samples, gifts, discounts, and cash payments. Some even receive insider access to new products and services. Not a pretty bad deal for promoting something you love if you ask me.

In conclusion, social media is now being used by both job hunters and recruiters. Social sites like Facebook are rivaling traditional job boards, and I would say that pretty soon traditional job boards are going to become obsolete.