Week 10 EOC: What are the Benefits vs. The Features

The Benefits of my food truck After Stop, is the we are a portable restaurant  and will come to our consumers. We serve nothing but fresh food at all times, never any pre cooked meat. A benefit of having a portable restaurant is that our consumers can have the joy of never having to wait in long lines and that we have the ability to broadcast to different communities and we have free advertisement by driving around. We do not have to stay local if we do not choose too. we control our our hours of operation and location. We are family owned and we do not have to hire many staff members. If the weather is bad we do not have to work on that day and if the location we are at is not a safe or good spot we can relocate at anytime. Our prime time of work has a benefit also we cater to the individuals that like to party and eat after. We also have can go to all the clubs on the strip on the weekend that will be my best profit. We have easy clean up and not any insects and pest issues. The features of the food truck would be space and easy set up. Mobile and insurance liability and full coverage. Lights and back up battery if ever needed. Our Features are very noticeable and are all very detailed this truck is very clean and neat at all times and also have speakers to play music or advertise thru out the day to let the party people where we will be later that night for business . Also to let our consumers know when we are going to be closing at the current location and where we will be traveling next too. T o myself the Benefits out weights the Features but they both work well together to make After Stop food truck a success.

Implementation Evaluation Control

To be Continued...

Price

                                                           After Stop Price Points

I know the prices of my menu is very important a company's price point can either hurt the business or could make the business a success. I want to have a reasonable price point for After Stop's menu, I took into consideration the time of my services and how 9 times out of 10 my average customer will be low on cash and or will only have credit to use at that time of night. So with this I will have a credit/ Debit machine to handle all transactions. I know it will be a safer method for all of us less cash the best for that customer. I wanted a price that did not give my product away but at the same time was a fair enough price for my business and consumer. All combos are just $5.00 that will include your choice of a hamburger from the menu fries and or hot dog along with a soft drink. I also had to keep in mind the Demographics as well when I came up with my company's price point now don't get me wrong after sometime and when and if we decide to make Vegas a permanent location the yes our prices will eventually go up slowly but surely. Once my profit is increased then I know for sure my company will last will then be a great time to go up on my menu and price points. I don't want to overwhelm my consumers that late. Competitive marketing intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace. The goal of competitive marketing intelligence is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitors’ actions, and providing early warnings of opportunities and threats.(Pg ) 104 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.  I was reading up on break even price points and so many company's have it so wrong and refuse to be a business owner that gets this wrong.The major problem with this analysis, however, is that it fails to consider customer value and the relationship between price and demand. As the priceincreases, demand decreases, and the market may not buy even the lower volume needed to break even at the higher price. (Pg)208Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. I know After Stop has a great opportunity to be a success with the right business choices and leadership. 

Promotion

My first way of promotion would definitely be  Instagram and Flyers. I know it is very important to promote your company so that you stand out from the rest and to get your name out there. Many companies follow the selling concept, which holds that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.Pg(11)Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing .  Now I feel like it is very important to understand the meaning of the word promotion before you try to promote and then u fall hard on your face.  Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty. It is one of the four basic elements of the market mix, which includes the four P's: price, product, promotion, and place. Promotion is also defined as one of five pieces in the promotional mix or promotional plan. These are personal selling, advertising, sales promotion, direct marketing, and publicity. I will also come up with a great Logo and website I have many friends I will reach out to to help me and the best ones website created  I will use to promote After Stop.   I think this is a great way to get my company out there and my web design contact to win an opportunity for great advertisement as well. Perhaps the most important step in the marketing process involves building value-laden, profitable relationships with target customers. Throughout the process, marketers practice customer relationship management to create customer satisfaction and delight. In creating customer value and relationships, however, the company cannot go it alone. It must work closely with marketing partners both inside the company and throughout the marketing system. Thus, beyond practicing good customer relationship management, firms must also practice good partner relationship management.  Pg(31) Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing . Also after doing some research I learned that I can used google and bing to help me promote as well  All my promoting will be with my truck and online and the best will be word of mouth once my customers have had the AFTER STOP taste in there mouth. In the final step, the company reaps the rewards of its strong customer relationships by capturing value from customers. Delivering superior customer value creates highly satisfied customers who will buy more and will buy again. This helps the company to capture customer lifetime value and greater share of customer. The result is increased long-term customer equity for the firm.  (Pg)31Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing .

Distribution

Distribution is the process of making a product or service available for use or consumption by a consumer or business user, using direct means, or using indirect means with intermediaries. My food would all come from wholesalers, I prefer to use Organic food sources such as Trader Joe's. The reason for them to be my pick is because they are very affordable and if I buy in bulk the will work out and deal with me. I buy from them in my personal life and I would want my customers to have a healthy food choice when the purchase from After Stop. I want my food to be a number 1 pick not number 2 at that time of night. I also want my food to come from a company that does not believe in filler and preservatives. This store has gourmet prices very low so this is another way I will be able not to charge so much to my consumers.    Trader Joe’s has put its own special twist on the food price–value equation—call it “cheap gourmet.”

Another thing that makes Trader Joe’s products so special is that you simply can’t get them anywhere else. More than 80 percent of the store’s brands are private label goods, sold exclusively by Trader Joe’s. If asked, almost any customer can tick off a ready list of Trader Joe’s favorites that they just can’t live without, a list that quickly grows. “People get hooked on something and they keep coming back for it. That’s how it starts,” says a Trader Joe’s store captain. “They end up filling up their baskets, then entire carts. That’s the most common complaint that we hear. They came in for one or two things, and ended up with a whole cart full of stuff.”(Pg)274 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. I believe that once my consumers find out that all my food is bought from Trader Joe's that will give me a heads up with a lot of my competition, my food will taste so great and will not have a heavy feeling after its been eaten. That is enough right there to keep me in business.  It’s all about value and price—what you get for what you pay. Just ask Trader Joe’s regular Chrissi Wright, found early one Friday morning browsing her local Trader Joe’s in Bend, Oregon.(Pg)274 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. The last thing I ever want is for my customers to force me to go out of business or cut my prices. Companies today face a fierce and fast-changing pricing environment. Value-seeking customers have put increased pricing pressure on many companies. (Pg)275 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. 

Product

AFTER STOP'S

                                Burgers, Hotdogs, and Fries along with Drink Menu.  

Target Marketing Strategy

The food market has a lot of competition and static standing between you and the consumer. Narrowing your focus to one specific demographic or marketing place give potential customers a reason to notice you in the rest of the fray. You have to differentiate yourself in the marketplace this will be a motivator for the consumer when it comes to prices. Having a specific targeting market is very important. After Stop target market will be the individuals that enjoy the nightlife from the ages 21-40. Of course we will not exclude certain types of consumer from our market is the first elements of a marketing mix. I do feel that with our food truck that we will get a lot  of attention due to the fact that we service only after hour clubs. To design a winning marketing strategy, the marketing manager must answer two important questions: What customers will we serve (what’s our target market)? and How can we serve these customers best (what’s our value proposition)? pg(9)Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing . The first step would be to make sure that the food that I am trying to sell is not being sold in the area I would be working and most of all not open during the times I am working less options for my consumers the better.When coming up with my targeting market I have to think of these important steps to have a successful outcome. Characteristics of the primary market you’re targeting These characteristics may include information about the critical needs of your potential customers.Size of the primary target market, Your pricing and gross margin targets, Resources for finding information related to your target market,& Evaluation of your competition. And there is so much more. 

Situation or Swot Analysis

    SWOT Analysis, is an overall evaluation of the Company’s strengths (S), weaknesses (W), opportunities (O), and threats (T). 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. Pg (55) Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing .  After Stop’s Strengths Include positive cash flow, skilled management, a brand is a sign, symbol, design, or a name or a combination of these which identifies one organization’s products from those of its Competitors. After Stop’s positive cash flow is thanks to consumers that are switching from more expensive restaurants to food trucks like After Stop late night. Our small price increases on our menu up to no more than $5.00 for a complete meal, and will not have a negative impact on sales. 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. 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). After Stop training provides areas such as leadership, business management, team building and most of all customer service. No manager of After Stop would have to ask a members of our staff to complete tasks that managers could not do themselves. The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats. Pg (66)  Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing . And with the SWOT Analysis in place we as a company should be very successful after time.

Objectives

The words goal and objective are often confused with each other. They both describe things that a person may want to achieve or attain but in relative terms may mean different things. Both are desired outcomes of work done by a person but what sets them apart is the time frame, attributes they are set for and the effect they inflict.
My Ideas for the outcome of After Stop, is nothing but success and growth. I know my price points hold a very important role in this matter. Along with my marketing, targeting market, promotions, location and so much more.  Pricing may play an important role in helping to accomplish company objectives at many levels. A firm can set prices to attract new customers or to profitably retain existing ones. It can set prices low to prevent competition from entering the market or set prices at competitors’ levels to stabilize the market. It can price to keep the loyalty and support of resellers or to avoid government intervention. Prices can be reduced temporarily to create excitement for a brand. Or one product may be priced to help the sales of other products in the company’s line. (Pg)281Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.  I have to understand my objectives before bringing a pop up location to the Strip, I have to understand that there is a chance that After Stop will not be a success. A good business owner  be honest, will not lie and cheat or cover up if the company is not doing as well they expected. To themselves and or staff members in this case my family because this will be a family owned business the less staff I have to hire from the outside the less I have to pay out. Management must decide who within the organization should set prices. Companies handle pricing in a variety of ways. In small companies, prices are often set by top management rather than by the marketing or sales departments. In large companies, pricing is typically handled by divisional or product line managers. In industrial markets, salespeople may be allowed to negotiate with customers within certain price ranges.(Pg)282 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. This is very important that my main objective is not to become rich quick, not like that will happen overnight but I have to stay focused on building my brand and keeping my clients happy. This is why I will watch my prices.The price that a company should charge in a specific country depends on many factors, including economic conditions, competitive situations, laws and regulations, and development of the wholesaling and retailing system(Pg)297 Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. This is very important to ones objective of there business well it is for After Stop.

Business Mission Statement

                                                          After Stop

To our consumers... Our mission is to bring better food and unforgettable experiences through superior customer service, "that will leave your stomach and wallet satisfied".

When I came up with my Mission Statement I wanted to have my consumers to relate and also have my food truck in there memory bank the next time they are hungry late night after enjoying a night on the town. My goal is to keep my customers happy and coming back, while serving quality food at a great price!

   A mission statement  is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization.Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing  (pg 39)

   A company’s mission should not be stated as making more sales or profits—profits are only a reward for creating value for customers. Instead, the mission should focus on customers and the customer experience the company seeks to createArmstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing   (pg 40)

     The company needs to turn its mission into detailed supporting objectives for each level of management. Each manager should have objectives and be responsible for reaching them.

    Mission statements should be meaningful and specific yet motivating. Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing  (pg 40)

Week 7 Eoc: Pitch

After Stop

After Stop, is a after hour food truck that goes around to service the person that loves going out and the person that loves to club in Las Vegas.  We are a after hour food truck, after you have danced all night and had one too many drinks, stop by our great food truck to enjoy our delicious Grilled Burgers, Hot Dogs, along with or signature seasoned crinkled and curly fries. We also serve Milkshakes, Soft Drinks and Water. My prime location will be on the strip but will travel also many area around local Las Vegas. Our Goal is to provide great customer service along with great food. We are very excited to have a pop u store coming to the Las Vegas area. We are only going to be in town for one weekend only October 1^st thru October 4^th, 2015. So come out after you have enjoy your night out on the town stop by After Stop to get your late night snack and sober up. Our menu is very small and straight forward at that time of hour we do not want to hold the lines up with too many decisions. Burger and fries and drink of your choice of Hot dog is only $5.00. Along the side of our truck there will be some tables and chairs so you can sit down and enjoy your meal. I am very excited to bring our food truck to the Las Vegas area and with it being a food truck you can be sure  that with the four days we our here we will be at a different spot each night to cater to the night owls of Vegas. After Spot is very affordable and convenient for those leaving the club or out walking the Strip and want a midnight snack.