Target Market Strategy

Our target market is any race fan of any age. "Some companies position their products on price and then tailor other marketing mix decisions to the prices they want to charge. Other companies deemphasize price and use other marketing mix tools to create nonprice positions". Pg. 304, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Parents can purchase our blankets for their children and grandparents can purchase the blankets for their grandchildren. The blanket would be an excellent gift for a baby shower especially one that is another state for tourists love anything that is from Las Vegas and has an emblem of this city on it.

SWOT Analysis

First we have to ask ourselves what a SWOT analysis is and it is something that a company does to include "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Some of the "Strengths" to my product is that it is for babies and there may be a lot of blankets out on the market that is for babies and what differs ours from the competition is not only is it made by Americans for American children but it has the Las Vegas Motor Speedway logo on it as well as the ever so popular Las Vegas sign on a plush microfiber blanket. The reason we make ours out of microfiber is not only for its quality for softness but for the fact that it is made of microfiber so that when the blanket is keeping the child warm, the fibers that the blanket is made out of won't fall apart and find its way into the babies mouth like other baby blankets. "Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. One of the "Weaknesses" to the blanket is that it is not as easily cleaned as of other blankets. It has to either be washed by itself or with like articles on the delicate cycle in which a lot of clothes washers do not have this setting and it can also be cleaned through your local dry cleaners. Also, since it is a non-profit organization and with the recession the way it is, it will create a challenge to find volunteers for such a cause. "Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Some of the "Opportunities" that are within grasp of the product is to implement licensing to ensure against anyone who would try to steal the idea of this blanket and sell it in their stores which is also a great opportunity for this product is that it can be sold at many different retailers across the country like Target and Carter's. "And threats are unfavorable external factors or trends that may present challenges to performance". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. A couple "Threats" that face this product is the competition that is out there as well as similar products that "look like" our product but none of them will be selling their blanket for charity and none of them will have the logos which appear on the blankets that we produce.

Objectives

The objective of the company is to define newfound warmth and comfort for newborn children everywhere while providing substantial charitable contributions to children’s charities in Las Vegas. "Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources". Pg. 39. Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Just as important as it is to have a mission statement, a company must have an objective othewrwise the company will have no which way of knowing which direction to go once established. "Rather than offering high quality at a high price, or lesser quality at very low prices, marketers in all industries are looking for ways to offer today’s more financially cautious buyers greater value—just the right combination of product quality and good service at a fair price". Pg. 79. Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.

Business Mission Statement

"To help communities warm underprivileged babies by providing blankets for sale to promote awareness of disadvantaged children". "Guided by the company’s mission statement and objectives, management plans its business portfolio, or the collection of businesses and products that make up the company". Pg. 61, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.

Week 8 EOC: Creative Content

Develop marketing plan

How to get the word out

Video, press release, commercial, promotional material, etc.

***Do the mission statement also***

Week 7 EOC: The Pitch

For my "make a difference" idea, I chose to have small baby blankets made with the Las Vegas Motor Speedway logo printed on it with a small Laps for Charity children's charity logo in the bottom right hand corner of the blanket. They will be made out of soft, furry fabric called polyamide and they will come in pink and blue. Can be sold at every event at the Speedway and the proceeds will be donated accordingly and to the Laps for Charity guidelines.  "For example, when Swartz recently met with McDonald’s executives to pitch providing the fast-food giant with new uniforms, he didn’t bring along any designs, rather than trying to close the sale, Swartz left the McDonald’s executives with the charge of truly helping every community in which it does business". Pg. 532, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing".This shopping product is for the people that come to Las Vegas and to the Speedway from all over the world with the intentions of getting something with a Las Vegas logo on it. Hundreds of thousands of people come to watch the races every year and buy souvenirs. Can have them made for about six dollars and could sell them for eighteen dollars with a twelve dollar profit to be donated to the children of Las Vegas. Made by the American people for the American future. It is Corporate Image Advertising for the Speedway in that every blanket sold will have the two logos to spread the word of the charity and the company name so that whenever the people that see those logos will be sure to check them out when they take their vacation to Las Vegas. "This broad mission leads to a hierarchy of objectives, including business objectives and marketing objectives". Pg. 532, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.

Week 6 EOC: Me x 3

One of my favorite canned soups is the soups that are made by Campbell. One of their marketing strategies was to join Kraft in a creation that would appeal to my generation and the soups are relatively cheap. It is one of the few canned dinners that actually tastes good and the great thing about Campbell soups is that you can use the soup as a basis for a bigger dinner. For instance, I use cream of mushroom soup as a basis for adding pork chops and pouring it over rice. I do throw in enhancements but it sure tastes good and is inexpensive to make while getting a fulfilling meal. But sometimes they think like that too.

“ And a recent joint advertisement by Kraft and Campbell features a tomato-soup-and-grilled-cheese-sandwich combo that “Warms hearts without stretching budgets.” (Pg.9)

                   A product that I have worn for a long time and for so long it is a brand that defines me is Nautica which is owned by the VF Corporation. 

"VF Corporation offers a closet full of over 30 premium lifestyle brands, each of which “taps into consumer aspirations to fashion, status, and well-being” in a well-defined segment."(Pg.188)

          Since I have become a father, I try to eat healtheir and now that my daughter is eating the same food as me, I now have changed the way I do my grocery shopping. I eat foods that are organically grown and for that I shop at Whole Foods market.

"Whole Foods thrives by catering to affluent customers who the Wal-Marts of the world can’t serve well, offering them “organic, natural, and gourmet foods, all swaddled in Earth Day politics.” (Pg188)