Target Market Strategry

           With my product and having start at local bars and perhaps also local sports arenas, I am targeting males and females both from the age range of 21-37. “Marketing targeting involves evaluating each market segment’s attractiveness and selecting one or more segments to enter. A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.” Marketing: An Introduction, Armstrong/Kotler, page 50. Thus, the he two places will be ideal for this demographic, bars because we an atmosphere here in Vegas where the party and booze never end. Supplying that with sweet spicy nuts and having perhaps a beer or lager to partner it with can boost up sales and consumer intake. Also, for the sports arenas around Vegas, I can target university students and also consist with the demographics of the local bars. “Alternatively, a company might choose to serve several related segments – perhaps those with different kinds of customers but with the same basic wants.” Marketing: An Introduction, Armstrong/Kotler, page 50. Targeting both local bars and local sports arenas targets both demographics. 

Product

          At Phineas we are seeking a new and exotic blend of snacks for our customers. We are boosting a new product from the exotic lands of Brazil. We have acquired the exotic blends of sweet and spicy with a little bit of a crunch on a peanut, we call this product The Brazilian Habanero Sweet and Spicy Peanuts. The new exotic blend will have you teleported to the exotic and tropical lands of Brazil. At Phineas we do not see our product as just a product but also as a service to give our customers value. “Today, as products and services become more commoditized, many companies are moving to a new level in creating value for their customer.” Marketing: An Introduction, Armstrong/Kotler, page 209. Our particular new product the Habanero Sweet and Spicy Peanut creates a new but old Brazilian legacy. The ingredients in which we use in our product are originated from Brazil, giving and providing our customers with the utmost authentic flavors from Brazil. We roast our peanuts, add our native Habanero chili powder and add a dash of sugar to give it the sweet flavor. We take pride in our products quality and guarantee our customers a satisfying and unique experience they will never forget and keep craving our product. “Quality has a direct impact on product or service performance; thus, it is closely linked to customer value and satisfaction.” Marketing: An Introduction, Armstrong/Kotler, page 214. We aim to please our customer’s satisfaction and experience. 

Distribution

          For my distribution since I want to have authentic flavors, I would use a local distribution center in Brazil for the nuts and have them ship to our location here in Vegas. I would also use a distribution center or Habanero grower from Brazil to purchase the Habanero chile. We would learn the techniques of roasting and grinding the chilies to season the peanuts. We will package the product in plastic triangle bags and use wire tie ups to secure the bags. Since we are distributing to local bars we will not use a big rig, we would probably purchase, to start a 10 foot truck, like the ones U-Haul use. Purchase about 1 or 2 for local deliveries. “The objective is to maximize profits, not sales. Therefore, the company must weigh the benefits of providing higher levels of service against the coasts. Some companies offer less service than their competitors and charge a lower price. Other companies offer more service and charge higher prices to cover higher costs.” Marketing: An Introduction, Armstrong/Kotler, page 329. I believe in cutting the logistics system since we will be small company to start with we can have our own logistics and distribute ourselves cut the cost of having another company do our deliveries. Perhaps also, I could contact and speak to both with my distributors in Brazil and have them work together in a dual company to produce the product there and have the product once completed sent here, where I could just package and distribute. 

Promotion

        For my product, I have a few promotional strategies I would incorporate. For starters, since it will be a Nevada based market, I would start off with perhaps hitting the local chains of bars first. I would start off with either PT’s or Mulligans, I would speak of course to the owners and managers of the chains and infuse my product on their table menus. I would add to the menu our app logos so customers can follow us and/or add us on social media. I would also advertise on the menu, since the average Nevadan going to these local bars would be from the age range of 21-35, for our customers to add on our pages their Habanero Sweet and Spicy selfie. So they can share their experience with our product to their friends and families and be intrigued to go out and try it themselves. “Consumer promotions must usually be advertised and can add excitement and pulling power to ads.” Marketing: An Introduction, Armstrong/Kotler, page 432. On the social media pages I will incorporate and add our story of our product, how it was originated and how it was made. Maybe even add a Peanut mascot to the pages and have insights to his story, so customers can add and follow him. Creating a fun and “young” appealing mascot can maybe relate to the customer and attract their appeal more to the product. I would also like to market my product not just to the local bars but also the local sports arenas. For example, I would like to test run my product at the UNLV football game, 51s (Nevada’s AAA Baseball team) and of course Vegas Speedway and/or the new MGM arena. Why these places? Because they have a good alcoholic consumption rate and who wouldn’t want to consume some good tasty peanuts at a baseball game? 

Price

      Pricing of my product I would lean towards the good-value pricing method instead of the traditional cost-based pricing. “It’s important to remember that “good value” is not the same as “low price.” Marketing: An Introduction, Armstrong/Kotler, page 276. “The company first assesses customer needs and value perceptions. It then sets its target price based on customer perceptions of value.” Marketing: An Introduction, Armstrong/Kotler, page 329. I would price my value, due to the research and talks I had with peers at $6.35. It’s not too expensive for local bars and can be placed on the appetizer menu. It would also work at the ball park or football stadium if and when we hit the local teams. The price could adjust to consumer intake too. The authenticity of my product will probably eventually boost up the sales as well given we do a “test run” I am positive it will exceed and customers will enjoy my product.

Implementation evaluation control

     I have asked my close friends and family about this project and about this product, they say they would love to taste it. Seems like a very highly genuine idea and product that they would like to experience along with have the privilege to taste something exotic from another part of the world.  They asked if I would pair with a beer perhaps a local Brazilian beer or a Mexican beer. Most of the people that I asked consume beer and like peanuts, they suggested perhaps pairing it with a lager. Having the lager’s rich thick musky flavor with a sweet and spicy snack could be ideal. I also pitched some ideas about the sports arena snacks and they seem to agree with me as well. As I stated in my Promotions, I would like to pitch to the local bars here in Vegas, starting with PTs and/or Mulligans. I think they have a solid base and the capability to sale my product and they do have a demographic and loyal customers as well. I wouldn’t mind once we have established a solid foundation with the locals, go and pitch it to the local sports arenas. It would solidify my product and the establishment of a local product from an exotic place.

Pitch

     My new snack for Phileas is going to be exotic and unique Habanero Sweet and Spicy nuts. With their unique and authentic flavors it will guarantee and great experience one will not forget. It's exquisite sweetness and spiciness will leave you wanting and craving for more. This snack will give something to talk about among your family and friends.