Week 8 EOC: The Adventure

Dear Friends,

In my most recent adventure to Panama, I came across a delicacy that just had to be shared with the rest of the world!  Platanos or plantains, are a green banana shaped fruit.  It is also a member of the banana family.  This fruit can be cooked and served in a number of dishes, including desserts!  The most popular way to prepare and serve this fruit is by slicing, seasoning, and frying into chips.

How did I find this delicious fruit?  Well, that’s where the adventure comes into play.  I decided to go zip lining along the top of the jungle canopy, as a way to see the deepest parts of the rain forest.  On a particularly long run, I felt some jerkiness in my harness.  Upon reaching the end of the line, I discovered that some of my equipment was malfunctioning.  I climbed down and began walking from there.

I came across a small village in a beautiful clearing.  Luckily, I speak enough spanish to get by and began conversing with the locals.  I happened to come along right as they were preparing lunch, and they invited me to stay for the meal.  There were empanadas, pasteles, arroz con pollo, and tortillas with varying ingredients.  While everything was delicious, my favorite was the fried platanos!  They had a dessert version that was prepared with vanilla, cinnamon, and brown sugar.  I preferred the sliced, fried chips seasoned with salt.

Upon my return from Panama, I immediately began marketing and production of this new wonderful snack!  Panama Plantains are currently being packaged and will hit stores on New Years Day!  Be prepared for an explosion of the senses!

Sincerely,

Phileas Fogg

Marketing Pitch

Product Synopsis:

To our fellow foodies…please enjoy this newest sensation from Phileas Fogg!  We fell in love with the local cuisine of Panama & decided to bring this wonderful country’s flavor to you!

Plantains or platanos are grown on a tropical plant in the banana family.  Plantains are used in a variety of dishes, and are usually served fried.  We’ve sliced, seasoned, and fried ours into delicious chips that go with a variety of beverages!  Pick up yours today!

Pitch:

Production for Panama Plantains is to be completed by 31 December, 2014.  Product will be available in commerce on 1 January, 2015.  Packaging is a small blue box with product image, Phileas Fogg logo, and Panama Plantains character.  Serving size will be 3.5 ounces and price point is $2.00.

This snack will be marketed to people of all ages and cultures.  Our friendly snake character, Pamela, will entice children.  The product photo is geared towards adults.  This product will also be advertised as a great bar snack, which will be geared towards bar owners and their customers.

Implementation Evaluation Control

Implementation Evaluation & Control

“Implementation, Implementation, evaluation and control are like the three legs of a stool; remove one, and the stool wobbles and crashes to the ground. 

Evaluation and control are like the three legs of a stool; remove one, and the stool wobbles and crashes to the ground.” – Jeanne Grunert.  All of these items are essential for the successful completion of our marketing activities. 

Marketing Mix: Price

Pricing is one of the most important elements of the marketing mix, and we at Phileas Fogg have thought long and hard about what our price point should be.  The cost for production, design, promotion, and distribution all have to be taken into consideration before making a decision.  Supply and demand will also help dictate a price point.

We also have to take into account what our competition is doing business-wise.  While we haven’t seen another product like ours in the United States, there are similar banana chips, and chip and cracker manufacturers that we can compare competitively.  We have used 3 different pricing strategies, combined with our research, to aid in the final decision.  We have used psychological, competitive, and cost based pricing strategies to help achieve our final number.  And, this beautifully designed, 3.5-ounce box of Panama Plantains will be sold at the low retail price of $1.99!

Marketing Mix: Distribution

Distribution of the product to the user at the right place at the right time is extremely important.  Also, underestimating the demand for consumers can be an issue if inadequate amounts of product have been placed on the shelves.  Phileas Fogg will be using indirect and direct distribution for product placement.  We will be using wholesalers and retailers for store placement.  Direct distribution will take place via Internet sales.  Intensive distribution will be used for Panama Plantains.  This method is used commonly to distribute low priced or impulse purchase products such as chocolates, soft drinks, and of course, Panama Plantains.  "Marketing is simplistically defined as ‘putting the right product in the right place, at the right place, at the right time.’" - Marc of Entrepreneurial Insights.

Marketing Mix: Promotion

Promotion is one of the 4 P’s of the marketing mix.  The staff at Phileas Fogg knows the importance of promoting new products.  Television commercials will be filmed and broadcasted on national network channels.  Advertisements will be published in magazines, newspapers, and local publications.

The development of the World Wide Web has changed the business environment forever.  Consumers are on average spending more time online then watching television.  E-commerce will be utilized to the fullest with online advertising.  Shoppers will be able to purchase our products from the comfort of their home 24 hours a day, 7 days a week.  Our entire product line will be available for purchase on our website.  We will also promote with the use of banner adverts and pop up advertisements.

Marketing Mix: Product

While products come in several forms, our Phileas Fogg snack line is categorized as convenience goods.  Our newest snack, Panama Plantains, has already completed most steps in the product development stage.  We’re currently working on market testing and commercialization.  This new product is estimated to have a very long product life cycle.  Panama Plantains are delicious, affordable, and will be made available to the public after the new year. 

We would like the saturation point to reach 100%, but are aware that this is optimistic.  Our culture tends to adopt new products more quickly than others, and we’re anticipating that our new product follows this trend.  Our branding is complete, and product packaging is being developed.