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Packaging for Honey Bar

EOC Week 9: Three Great Mission Statement

The three business mission statements that I really liked were Will's, Austin's, and Tyson's. In their blogs they did a great job of explaining their mission for their snack. The used Good Quotes and new how to execute their statements. “An organization exists to accomplish something, and this purpose should be clearly stated. Forging a sound mission begins with the following questions: What is our business? Who is the customer? What do consumers value? What should our business be?”(Armstrong& Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing- Page39) They did a really good job on theirs.

EOC WEEK 8: The Adventure

It was a cold and gloomy night in the Philippines for Phileas Fogg, he had no idea what to for the night so he decided to take a walk. He had been walking for a while when all of a sudden he heard a loud bang and crash. His heart started racing and he began to think “this will give me something to do”. So he followed the sounds for when seemed like forever. When he finally for there and looked around he saw a little bar and there was a huge fight going on. They were breaking everything and Phileas had no idea what to do. He looked over and saw some girls freaking out because all they wanted to do was get drinks and have a good time. So he decided to be the hero and step in and try to fix the situation. He ended up getting punched multiple times and then finally managed to contain the situation. The girls immediately started trying to clean the place up a little bit because they wanted to enjoy the rest of their night. Phileas started helping them and began talking to the girl. They all stopped and started talking for a little bit and after a few hours they began to clean again when Phileas came across this hard piece of food that he had never seen before and he got curious and wanted to know what it was. He tried to break it multiple times so the girls got curios and decided to check it out and see what he was doing, when they went over there they watched him and started laughing and helped him and they ended up all working together and having so much fun breaking it and found out that it tasted really good. They found all the ingredients and ended up making a huge business out of what they discovered.

Implementation Evaluation Control

Even though we are starting out small the Honey Bar is going to be a huge hit for single men and women because it is designed so that 2 or more people can enjoy breaking it and figuring out fun and creative ways to eat it.  “A company can divide sales responsibilities along any of several lines. The structure decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a territorial sales force structure.”(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page416) The reason I say 2 or more people is because if people are double dating or even a group of people order it there is enough to go around. We will have a website for people to go to so they can order some if they are hosting a party as well. The Honey Bar goes great with any kind or drink and will be a hit anywhere you’re drinking. “In many cases, the move to team selling mirrors similar changes in customers’ buying organizations. “Buyers implementing team-based purchasing decisions have necessitated the equal and opposite creation of team-based selling—a completely new way of doing business for many independent, self-motivated salespeople”( Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page420)

Price

The purpose of the Honey Bar is to have the perfect salty sweet snack at the bar for people to enjoy there night and drink with. “Marketing research gives marketers insights into customer motivations, purchase behavior, and satisfaction. It can help them to assess market potential and market share or to measure the effectiveness of pricing, product, distribution, and promotion activities.”(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page106) Our price for the Honey Bar is going to be like $6 because we import the nuts and are going to give away money and ticket prizes.  The quality of the Honey Bar will be great and have an amazing flavor and is going to be the perfect snack for a night out on the town. “Cutting prices is often not the best answer. Reducing prices unnecessarily can lead to lost profits and damaging price wars. It can cheapen a brand by signaling to customers that the price is more important than the customer value a brand delivers. Instead, no matter what the state of the economy, companies should sell value, not price.”(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page274) We believe that the price of our product is perfect for it not to cheap and not too expensive. Our hope are that it will draw people’s attention and realize it’s a good snack with their drinks and that they can really enjoy themselves at the bar. “Price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service.”(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page275)

Promotion

Since we are a small business for a bar snack, Honey Bar will have promotions every once in a while to grab people’s attention as well as tricking their taste buds. There will be many more in the beginning so that people are willing to try our product. Our promotions will be like buy two get one free, or buy one get one half price. We will have times where we will give prizes in our boxes maybe a small money prize or vacation tickets something like to attract our customers. Game nights there will be a discount on price such as 40% or 50% off of the Honey Bar. Eventually we will start adding special flavors just to try it out. What we want out of this is for our customers to love what they are eating and have the perfect snack to enjoy their night with that does not affect how the night is going by getting our customers full where they feel sick. “Promotional pricing, however, can have adverse effects. Used too frequently and copied by competitors, price promotions can create “deal-prone” customers who wait until brands go on sale before buying them. Or, constantly reduced prices can erode a brand’s value in the eyes of customers. Marketers sometimes become addicted to promotional pricing, especially in difficult economic times. They use price promotions as a quick fix instead of sweating through the difficult process of developing effective longer-term strategies for building their brands.”(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Pages294)