Week 10 EOC: Promotion without discounting

(http://www.pdco.com/node/88591) <--- Where I got my information at (mixed with my own ideas)

When it comes to promoting my business I am so glad to be a part of the technology generation. The last few years, Facebook has become the ultimate way to connect with others around us. So by making a profile for "The Vault" I will begin there by advertising and building up my restauraunt clientele. And every somebody would be a nobody without the famous Twitter! I will be tweeting my business's opening date and sneak peaks to our foods and beverages (along with specials during the holidays). And for those who are using Twitter to follow me I will also be promoting our Instagram Winner of the Week, this is how it works: "For every person who comes out to eat at The Vault and takes a photo of their experience (that is the most exciting and unique), I will be printing a 8x8 of that person's photo and it will be by the main entrance for that week (along with their name and where they're originally from)." To bring even more customers in without using Social Media, I plan on fundraising and spreading the word in my community as well. Consumer studies have shown that consumers will support restaurants that support the local community. It's all about the people and what they want most.

Implementation Evaluation Control

"Planning good strategies is only a start toward successful marketing. A brilliant marketing strategy counts for little if the company fails to implement it properly. Marketing Implementation is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives. Whereas marketing planning addresses the what and why of marketing activities, implementation addresses the who, where, when, and how." (Pg. 57)

To make or build something great, there is always a significant amount of planning before hand. I've had this idea for a restaurant for a little over a year and after writing about it throughout 10 blog posts, it really starts to set in, "Could this be a reality?" I've always thought of myself as an artist, not really a business woman, but as a child I enjoyed anything (mostly cooking) because of the people I surrounded myself with, so when it came down to choosing a restaurant or a bar, I already knew which direction I was taking. The Vault came to mind because being in Downtown Las Vegas, I was used to seeing these art museums and bistros that were connected to galleries, but never a restaurant and gallery made into one (healthy and green!) so that's where the idea came from. I think if this assignment was an actual start to my business, I know that I'd succeed. Because I chose a location where there is a lot of customers, I know my prices and how I'd promote myself. I have the design and layout for how I'd want things to look, I'd just have to find the right people to fill the spots for employees. I'd want to hire and share my experience with the kind of people that love what they do, whether they're musicians or artists. And I'd want their work to be shown as well, because The Vault is a place where everyone can be together, as a whole. Ideas, passions, inspirations, photographs, art. Everything.

"Many managers think that "doing things right" (implementation) is as important as, or even more important than, "doing the right things" (strategy). The fact is that both are critical to success, and companies can gain competitive advantages through effective implementation." (Pg. 57)

Price

"A company can always increase customer satisfaction by lowering its price or increasing its services. But this may result in lower profits. Thus, the purpose of marketing is to generate customer value profitably. This requires a very delicate balance: The marketer must continue to generate more customer value and satisfaction but not "give away the house."" (Pg. 17)

As far as the price goes for my restaurant, I'm not wanting to burn a hole through everyone's wallet, but I don't want my prices to be so low that it gives off the vibe that my food and photography isn't worth more.

I got most of my inspiration from a health food restaurant I go to all the time called "Greens & Proteins" so I want to base most of my prices around theirs.

For soups, appetisers or main entree salads - ($7-8.50)

Main dishes(pasta, sandwiches, or sides) (fish, chicken, steak, vegetarian) - ($10-16.50)

Fresh juices, soft drinks, coffee, desserts (gluten-free) - ($2.50-6)

For my photography, the prices for all the different sizes are in my "Product" blog.


"The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justiy higher prices."

"But if the company promises greater value, it must then deliver that greater value."

Promotion

"Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion)." (Pg. 13)


When it comes to promoting my business I am so glad to be a part of the technology generation. The last few years, Facebook has become the ultimate way to connect with others around us. So by making a profile for "The Vault" I will begin there by advertising and building up my restauraunt clientele. And every somebody would be a nobody without the famous Twitter! I will be tweeting my business's opening night date and sneak peaks to our foods and beverages (along with specials during the holidays). And for those who are using Twitter to follow me I will also be promoting our Instagram Winner of the Week, this is how it works: "For every person who comes out to eat at The Vault and takes a photo of their experience (that is the most exciting and unique), I will be printing a 8x8 of that person's photo and it will be by the main entrance for that week (along with their name and where they're originally from)." Social Media has grown to the extreme the last couple of years, so I know that I'm taking the right route of promoting my business.

"Evaluation is also very important. Many companies fail to evaluate their sales promotion programs, and others evaluate only superficially. Yet marketers should work to measure the returns on their sales promotion investments, just as they should seek to assess the returns on other marketing activities." (Pg. 438)


Creative Content:

The Vault (design & layout)

Distribution

"Companies often pay too little attention to their distribution channels, sometimes with damaging results. In contrast, many companies have used imaginative distribution systems to gain a competitive advantage." (Pg. 312)

Distributing to the public, I want my restaurant to be a direct distributor. Like, HP or Ford I want all my products to be my own. I want to be able to change my advertising, prices, and promotions to what I want them to be because I'm not getting help from another channel or retailer. The advantage of direct distributing is that it gives me (the manufacturer) complete control over my own product.
So whether I'm needing to spice up some old recipes or change the menu overall, I'll be able to do so in my own restaurant. Efficient and effective distribution is important if the organization is to meet its overall marketing objectives. If an organization underestimates demand and customers cannot purchase and be satisfied with the products being given to them, profitability will be affected.


"Distribution channel decisions often involve long-term commitments to other firms. For example, companies such as Ford, HP, or McDonald's can easily change their advertising, pricing, or promotion programs. They can scrap old products and introduce new ones as market tastes demand. But when they set up distribution channels through contracts with franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Web sites if conditions change." (Pg. 312)

Product

"As a marketer, you'll need a good marketing plan to provide direction and focus for your brand, product, or company. With a detailed plan, any business will be better prepared to launch a new product or build sales for existing products." (Pg. MP1)

At The Vault, we have anything from salads and soups, to vegetarian/gluten-free meals and delectable meat and low calorie sides for those who are craving it!

(Found on Google.com)

"Another form of contractual retail organization is a franchise. The main difference between franchise organizations and other contractual systems (voluntary chains and retail cooperatives) is that franchise systems are normally based on some unique product or service; on a method of doing business; or on the trade name, goodwill, or patent that the franchisor has developed. Franchising has been prominent in fast food and restaurants, motels, health and fitness centers, auto sales and service, and real estate."
(Pg. 352)

Alexellen Gallery featured at The Vault: (8x10 ranges from $20-55) (11x14 ranges from $55-65) (Any larger $100-115) 

Soundtrack @ The Vault: Indie/Acoustic

• Two Door Cinema Club
• Manchester Orchestra
• Anthony Green
• Grouplove
• FUN

Etc..guests can tweet @TheVaultLV what they want to hear too! 

Target Market Strategy

"Target Market is a set of buyers sharing common needs or characteristics that the company decides to serve." (Pg. 187)

For The Vault I was envisioning more of a younger crowd of customers, but adults and hard working parents are welcome as well. The last two years I have been noticing that a huge health streak is rising and more people are choosing to be vegetarian and vegan than living a life eating meat. I have also noticed that art schools are becoming full of more inspired students, I guess that's the main reason I decided to mix the two together instead of having them separate. I feel strongly that I'm going to bring in more customers this way and it will be the best technique for keeping all of my guests happy.

"The company must first decide who it will serve. It does this by dividing the market into segments of customers and selecting which segments it will go after. Some people think of marketing management as finding as many customers as possibly and increasing demand. But marketing managers know that they cannot serve all customers in every way." (Pg. 9)

SWOT Analysis

"SWOT, which evaluates the company's overall strengths (S), weaknesses (W), opportunites (O), and threats (T).." (Pg. 55)

S:  Clean and tidy establishment, a fresh idea for a gallery/health food restaurant, customer service is new to the area, location is at a busy intersection, and a place where artists can relate.


W: New and not established yet, my restaurant can be closely related to a Greens&Proteins w/out the art on the walls, and I have limited funds available.


O: We are the technology generation and we have so many ways to connect, to get the word out about my business opening. If my business sky rockets, I can branch out into more of the Henderson area. Young kids and adults are turning more to the vegetarian side and lighter options.


T: No alcoholic beverages, so that could take a toll on my male customer count. More businesses are starting to open that are on a healthy streak. My main Downtown Las Vegas competitor: The Art Factory.

"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company's performance. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance."
(Pg. 55)

Objectives

"Under the strategic plan, the major functional departments, operations, information systems, human resources, and others -- must work together to accomplish strategic objectives." (Pg. 61)

Overall, my objective for The Vault is to build a friendly environment for artists and anyone wanting to take a step towards a healthier life. Because one thing I've learned is that when I'm eating right and I'm surrounded by people who have passions related to mine, I'm genuinely happy and truly inspired. That's what I want most out of my business: To bring happiness, and open new chapters. When customers walk in I don't want them to feel discouraged by the prices on the menu, or the photographs on the wall, I want them to feel like they're at home. "The Vault, to be a part of something much bigger than you and I."

"Once the unit's objectives are set, marketing's tasks is to help carry them out profitably." (Pg. 47)

Week 9 EOC: Three great mission statements (in my opinion)

The first mission statement I enjoyed reading was Bree's. Right away I'm aware of what type of business she is creating and what kind of energy and people will be attending her establishment. I like the fact that it's an all women's bar and it's a place where no one will feel insecure. Her bar sounds exciting and fun, and I love that. The second mission statement that caught my attention right away was Jose's world football house. I like his idea because it's a unique one and although I have nearly to no interest in sports whatsoever, his business sounds intriguing. His statement overall may not be that long but the way he also included a description of his business, a slogan, and a definition of the word "Mission Statement" which made it that much better and well thought out.  The last statement I looked at was Monet's. I adore the way she writes and I can tell there's some type of passion behind her words and at that moment anyone could tell who her target market is. There's only been a few great teenage clubs in Las Vegas and in all honesty, if her idea were to go any further, her establishment would be at the top places where I would want to visit. I also like how long her statement was, she wanted to make sure we all understood her vision, which is very important. 

All of these include most of the same material, but something in each post makes them stand out.

Business Mission Statement

 "A statement of the organization's purpose --- what it wants to accomplish in the larger environment." (Glossary, Pg. G10)

Our mission at The Vault is to build a comfortable and reliable relationship with our costumers. We want to make sure that no matter who you are, you feel welcome and all your food and beverage needs are being met. We offer only the freshest of ingredients and allow each guest to explore into our view of photography and the way we see ourselves and you as well! An artsy, friendly, and upbeat environment will surely be seen here.

"..being our costumers' favorite place and way to eat." (Pg. 41)

"Mission statements should be meaningful and specific yet motivating. They should emphasize the company's strengths in the marketplace. Too often, mission statements are written for public relations and lack specific workable guidelines." (Pg. 41)

We want to offer something different, something unique and something that people will remember. Yes, the taste of our food is important..but I want people to know who we are, through my artwork.
"Photography is a way of feeling, of touching, of loving. What you have caught on film is captured forever...it remembers little things, long after you have forgotten everything." -Aaron Siskind

Week 8 BOC: Progress on my final project --

The progress I have made so far is finding a great location that my business can be established at, having a solid and great idea for how I'm going to make my money, and last but not least..named my restaurant. I'm going to be named it "The Vault", which is a synonym from the word "Gallery". See my "Pitch" for more information. 

So instead of following my other idea with the coffee shop, I am going to be creating my own restaurant. All my food will be freshly prepared daily and have a vegetarian menu and gluten free options as well. My menu will have everything from all-american style food to salads and soups (just made light) along with a famous dish. My decor on the inside and outside of the building will be eco friendly but still will manage to keep a mod and sophisticated look. I will accomplish making more money by having my own gallery throughout the restaurant. Framed prints of portraits, and landscapes. Depending on how big and what the photo is, my prices could range anywhere from $40-$150. I will also be having a close friend of mine (photographer) walk around to each table and take a group, family, or couple shot and at a later time they would be able to purchase their photo if they wanted to. The location I found used to be an old steakhouse at the intersection of Eastern and Tropicana. Includes a full kitchen and seating arrangements. Although I don’t enjoy the colors on the outside of the building, that’ll have change to becoming all black, will wipe spray paint for the name.

Address: 4901 S Eastern, Las Vegas, NV 89119 

Week 7 EOC: The Pitch

So instead of following my other idea with the coffee shop, I am going to be creating my own restaurant. All my food will be freshly prepared daily and have a vegetarian menu and gluten free options as well. My menu will have everything from all-american style food to salads and soups (just made light). My decor on the inside and outside of the building will be eco friendly but still will manage to keep a mod and sophisticated look. I will accomplish making more money by having my own gallery throughout the restaurant. Framed prints of portraits, and landscapes. Depending on how big and what the photo is, my prices could range anywhere from $40-$150. I will also be having a close friend of mine (photographer) walk around to each table and take a group, family, or couple shot and at a later time they would be able to purchase their photo if they wanted to. The location I found used to be an old steakhouse (Dessy B's Steakhouse) at the intersection of Eastern and Tropicana. Includes a full kitchen and seating. Although I don’t enjoy the colors on the outside of the building, those will have to change.


Address: 4901 S. Eastern, Las Vegas, NV 89119



I incorporated the idea of a healthy restaurant and my photographs all wrapped in one!

Week 6 EOC: Me x 3

#1: My tiny white film camera.. (http://bit.ly/9lkIVj)
This film camera I received from my sister on Christmas two years ago. It happened to be one of my favorite gifts and it was something I had actually picked out and had been wanting for a long time. Although it's simple and film has somewhat become outdated because of the digital age, I love the way the images turn out and I have a blast taking photos (whether they're snapshots or composed before hand). Photography is a part of me and I feel like since I haven't had a DSLR, this has become my backup partner. I usually carry it with me everywhere, and once I see a great shot in front of me, I take it. I also love this camera because of the variety of photographs I will be able to take with different types of film. The link above will bring you to a website called Photojojo.com and the rare film pack that I purchased a few weeks ago works with the same camera I have been talking about. Haven't used all of them yet, but I'm so excited to see how the images will develop.

#2: My TOMS.. (Toms.com)
I have always been a big fan of TOMS the organization/retail store. I love their whole purpose and in all I have probably owned three pairs, which isn't a lot, but because the are so pricey, it's really a treat when I'm able to buy such nice and comfortable shoes. The image above are a picture of the pair I own right now and I absolutely adore them. They're comfy and what I like most is that they have a lot of breathing room because they're made out of lace. Great summer shoes for this year's hot season and even right now they have managed to keep my feet warm.TOMS shoes are definitely a part of who I am, mostly because I have always wanted to help another person in a way that was possible for me to. The fact that they are comfortable shoes is another plus of course. I also love how they not only have a one for one with their shoes, but if one buys a pair of sunglasses, a pair of glasses goes to a child who can't see. Nothing is better than buying a product and helping a child in return.

#3: My kitten Tobi..(taken by me)
This is my kitten Tobi and he was named after my boyfriend who has been a part of my life for the last 6 years. I got him about 8 months ago and he's a huge part of my life. Yes, of course he's my pet but he's also my companion and keeps my life exciting and playful. Plus, he's a huge handful and always keeps me off my feet. I feel like he has more of a dog attitude than a cats because of his unique personality. A year ago I used to have a memory board which is a poster board that I hang goals, dreams, accomplishments, etc. on and he was one of them. For some reason throughout my childhood I have only owned dark haired cats and I always wanted to own a kitten with orange fur and blue eyes. Sort of missing the blue eye part but in actuality, Tabi (orange haired) kittens with the same eye color as their fur are more rare to find. So I guess I got lucky. Nothing could ever replace this fur ball!

Week 5 EOC: Super Bowl Commercial 2013

Not having watched the entire super bowl, what I did watch was definitely something interesting. The commercial I found most exciting was this years Taco Bell commercial (ABC News agrees, says it's "one of the best of this years big game." Visit here if you don't believe me: http://abcn.ws/UROXaz). I thought they did a wonderful job at capturing the essence of Taco Bell with the spanish version of the pop song, "We Are Young" by FUN. It was the most perfect juxtaposition with the old retired folks sleeping in their beds at the beginning, then all of a sudden showing them sneaking out on the town and doing crazy activities, from swimming and driving recklessly to getting tattoos. Overall, I thought the commercial was a huge success, and what made it even better was the ending and how the cops passed by them. It had a lot of positive energy and It looked like it was pretty fun to film also! Made me want to go buy some tacos right after I saw it! "Another college memory: Remind me to show you the near-identical storyboard I did for my Advertising Campaigns course, but for Burger King, showing retirement home folk sneaking out for a fast food fix. I’ll overlook that theft, though, since the “Goldblatt” tattoo gave a chuckle. Add in “We Are Young”en Espanol and you get a FIELD GOAL!" (Tv Line) "I love how the song was in spanish," "It told a story also..." (CNN Live http://bit.ly/WlLekP) From all the positive feedback it's received, I obviously wasn't the only
one who thought it was a huge success at this years super bowl. Good job, guys.

Week 4 EOC: There's an app for that..

Smart phone's have come up with many different apps; from recipes books and video games to travel guides and venue locations. An app that came to my mind would be the most ideal photographer's helper. I would call it "Photosmart" and the whole idea of this would be that whenever someone would snap a photo while inside the application, it would say out loud positive remarks and smart criticism to the person taking it. Then on the right side of the screen it would list a few tips on how to make their photo more visually exciting (different techniques, angles, etc.) and links to videos explaining how to do so along with links to different websites to buy equipment (If interested). It's meant for photographers just starting out, who maybe only have their phone as a real photography instrument, to get the best photos they possibly can. Because it's not about how big or expensive the camera is, but how someone uses it. In my opinion it would be an app that I definitely would invest on getting, 99 cents or a dollar fifty, I'd buy it. It's a creative tool and looking up some research online, there is no app for this.

Week 3 EOC: My Demographics

I am a Millennial on the Demographic scale. Also known as Generation Y or echo boomers which is closely related to the baby boomers because of the size of our generation. In our Marketing textbook it mentions that Millennials were the first generation to actually grow up in a world filled with computers, cellphones, satellite TV, iPods, and online social networks; which is completely true. “All generations are comfortable with technology, but this is the generation that’s been formed by technology..” (Yahoo! executive, Ch. 3 pg. 74) Marketers of all kinds are now targeting us Millennials because of use of technology. The presidential election passed a few months ago and although I wasn’t a young adult who voted, Barack Obama’s strategy to market like a high-end consumer brand make teens my age want to be connected and contribute. “Young people want to be in control of their relationship with a brand. They want to customize and personalize. The Obama campaign site allowed just that, with it’s use of tagging, discussion boards, photo uploads, and other interactive elements.” (Analyzing the Marketing Environment, Ch. 3 pg. 74) What I found interesting while searching the web was that unlike the previous Generation X, whose members spent only a sum of their time (30 minutes every 1 to 3 weeks) Millennials were found spending an average of 6 and a half hours talking to one parent over the phone. “What’s interesting is that instead of trying to deal with problems on their own, Millennials prefer venting to their parents in a ceaseless chain of grievances that lasts on average from 9 AM to 10 PM daily..” (Sociologist Rick Winter, The Onion) http://onion.com/Z3O828 I almost want to disagree with his statement because I find myself spending more time on the phone with a close friend than a parent, when it comes down to talking about my problems. So, the way I see it, us Millennials are the most emotional and technology savvy.

Week 3 EOC: Making Money for Good

Similar to the organization TOMS, Burt’s Bees has become company partners with Habitat for Humanity to build Eco-friendly homes. Based in Durham, Orange and Chatham Counties Burt’s Bees is focused on giving back to its community. Habitat works with Raleigh-based Advanced Energy to ensure the monthly payment of both heating and cooling costs no more than $34. Burt’s Bees has gone above and beyond these standards to add more green components such as icynene spray, foam insulation, and the use of alternative flooring and counter top options to improve air quality. “One of the reasons we moved our offices to downtown Durham was to deepen our roots in the community…” (Burt’s Bees CEO, John Repogle) http://burtsbe.es/afXVQ2 Also, in 2007 Burt's established the Greater Good Foundation that is a non-profit/charitable organization funded by their sales. It's goal is to "...help empower non profit initiatives whose efforts resonate with our own mission, particularly in the areas of natural health and well-being, the environment and social responsibility." (Lawrence Karol, Take Part) http://bit.ly/146UZrx Their foundation is run by volunteer employees and is funded by a donation of 10% of the burtsbees.com website sales. Lastly, the company gives back by working to develop sustainable packaging solutions. "Naturally, we're nothing but the good stuff." (Burt'sBees.com) http://burtsbe.es/qH5i1Being a consumer of Burt's Bees I never thought of their mission, but now that I have read bits and pieces, I'm amazed of their determination to make this world a better place.

Week 2 EOC: Boston Consulting Group - Video Games

The Video Game industry has struggled a tremendous amount in 2012. The NPD group recently reported that the video game hardware, accessories, and software has decreased 29% in June. Recent reports from DFC Intelligence indicates that the market for video games is going to take an astounding growth from $67 billion which we have seen in 2012 to $82 billion in 2017. The future of our consoles are changing as well, although Microsoft's Xbox 360 and Nintendo's games have been family favorites for years, Apple has taken over. "Many console and PC game sales are also being cannibalized by digitally downloaded games and alternative entertainment sources like Apple Inc.'s iPhone, which offers thousands of games that can cost only 99 cents or even nothing at all."(The Wall Street Journal 2009) But don't be too worried, in 2014 ad 2015 Microsoft, Sony, and Nintendo are going to be coming out with new and exciting game accessories that is going to help gain some momentum for the console community. "However, the steadiest area of growth is on the PC and mobile side." (DFC Intelligence, David Cole)


BCG Analysis:

The Wii - Dog

The Wii U - Star

Xbox 360 - Cash Cow

Nintendo - Question Mark

PC Games - Dog

Playstation 3 - Question Mark

ISO iPhone, Android, Tablet - Star

The BCG analysis I have listed above is mostly my opinion, but supported by reviews and other websites, the accuracy is close to being right on point. The Wii U that was released last year was definitely something that changed the younger generations, "Overall, I feel the Wii U is a step in the right direction for Nintendo, but the company is under far more pressure to succeed than ever before." (Winda Benedetti , NBC News) I truly do feel like when it comes to our phones and communication with everyone around us, gaming mobile has taken over. Hard to say, but every competitor out there is just going to have to try even harder to succeed in the gaming industry.

Week 1 EOC: Great Costumer Service

The best costumer service I have had was at a store called Anthropologie. It’s a retail store located at The District in Green Valley Ranch. Although I wasn’t shopping for anyone special, I was returning a couple items for my mother and they were so kind and generous to give me cash in return. Usually stores as big as they are, might want to interrogate me or expect for the person who bought these items in the first place to be there with me, but not these ladies! Another plus was their personal appearance; shows that they took time getting ready for their job. Anthropologie has a nice aroma and looks extremely clean as well, so that’s another reason why we’re continuously shopping there. It really does show how much they care about there customers and shows overall passion for their job.

Week 1 EOC: My Voice

I was born a photographer, plain and simple. Ever since I could remember I have always been so interested in finding different ways to express my emotions. The last five years, photography has been my gateway to that. Being where I am now, my future has become so clear in such a short amount of time. I never thought of myself as confident or even as a college student who would one day stand next to there work and say, “Yes, I took this photo. And I’m so proud of it.” but I know that day is coming up soon and I'm already preparing myself. That’s why I’m so grateful for the opportunities that have been given to me. I’m lucky enough to have my family behind me supporting every one of my decisions, which is why I’m here in the first place. They have had faith in me since day one, and someday soon I hope to repay them for everything they have done for me. I also plan to open my own business for a friend of mine who has passed away, in her memory. Overall, I want to do something no one else has and I want to have the determination and tools to be able to. Being here, in this moment, at this point in my life I know I will have them. My full name is Alexsandra, and every day that passes I’m getting better at being myself and accepting the changes that are happening around me.