Target Market Strategy

Lucky Vodka targets a market that is very specific. We want our product to create a community and lifestyle that people want to be apart of. If we do this, then our number of consumers will always be growing. “The marketing manager’s aim is to find, attract, keep, and grow target customers by creating, delivering, and communicating superior customer value” (Marketing: An Introduction, Armstrong/Kotler, Pg.9).

Our target customer’s are both men and women between the ages of 21 and 30 who like to enjoy themselves. They are passionate and driven in life both professionally and personally. They are interested in new trends in music, fashion, and much more. They are always up-to-date with what’s going on around them. They enjoy drinking both shots and mixed drinks. They are open-minded, passionate, and active in trying new things and being adventurous. By targeting this specific customer profile we will be able to focus more on how to serve our consumers and keep them satisfied. “Some people think of marketing management as finding as many customers as possible and increasing demand. Instead, the company wants to select only customers that it can serve well and profitably” (Marketing: An Introduction, Armstrong/Kotler, Pg.9).

At Lucky Vodka, we will make our customer the center of everything. In today’s society people love feeling like they have a purpose or that they are important. With this mindset, we can use that to our advantage in marketing and revolve everything around the customer. This includes the price, taste, packaging, and marketing.

SWOT Analysis

Every company should be able to identify their strengths, weaknesses, opportunities and threats so that they can fully understand every aspect of their brand. This is when a SWOT analysis takes place. “The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)” (Marketing: An Introduction, Armstrong/ Kotler, Pg. 54).

For Lucky Vodka, the strengths are the unique ingredients we use to make our vodka. We use spelt to make our vodka instead of corn, wheat, or potatoes. The use of spelt eliminates the burn that people get when they drink other vodkas. We also will incorporate ginger and mint into the filtering process. It will give no flavor to the vodka but it will contribute and enhance the spelt, which comes on sweet, with notes of sugar and vanilla at the fore, before morphing into dry, slightly spicy mineral flavors.

The weakness of Lucky Vodka is the amount of knowledge we have for the vodka process. Nowadays there are more and more things that are continuing to involve and this includes vodka. Whether there is a machine invented or a new ingredient found to make the quality and taste of vodka better, we need to always be up to date and make sure we continuing to offer the best quality of vodka we can without altering the taste.

“The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats” (Marketing: An Introduction, Armstrong/Kotler, Pg. 55). For opportunities and threats, we will continually observe consumer trends. It is through consumer trends that help us grow and expand. Currently, vodka sales have gone down because the trend right now is whiskey. It is observations like this where we can analyze our threats, which are other types of alcohol and the opportunities, which are to create a new campaign and reintroduce vodka.

Objectives

Having an objective is vital for any company. It helps them see the overall goal they are trying to pursue with both the product and customer. In order to have an effective objective that will help define what the company needs to achieve, it must revolve around the customer. “The overall objective is to build profitable customer relationships by developing efficient yet beautiful products that embrace the “essence of gracious living” (Marketing: An Introduction, Armstrong/Kotler, Pg. 42). Lucky Vodka provides its customers with the same great taste in each bottle. We ensure that each bottle is carefully crafted so that our customers can rely on both the quality and taste. Once they start drinking our vodka they will never be disappointed. We want to provide vodka for people that has good quality for a fair price. We want everyone to be able to afford and enjoy our vodka. Lucky Vodka will supply its alcohol to a variety of stores all over the United States so that people will be able to enjoy the taste of it at their own home. We will also supply a number of clubs, concerts, and etc. with our vodka so that when people are having a night on the town they can be sure to find our vodka wherever they are. “More companies today are partnering with the other members of the supply chain—suppliers, distributors, and, ultimately, customers—to improve the performance of the customer value delivery network” (Marketing: An Introduction, Amstrong & Kotler Page 48).

Business Mission Statement

A mission statement is an aspect that every single company or brand should have. It helps define who they are and what they believe their purpose is. “A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment” (Marketing: An Introduction, Armstrong/Kotler, Pg. 39). The mission statement is a definition of the business but more market-oriented than product-oriented.

For Lucky Vodka, the product-oriented definition would be, “We sell our brand of Vodka”. The market-oriented definition however would be completely different. This would be aimed towards focusing on the customers and the strengths of the company. “…mission statements should be market oriented and defined in terms of satisfying basic customer needs…[they] should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace” (Marketing: An Introduction, Armstrong/Kotler, Pg. 40). Lucky Vodka’s mission statement is as follows:

“Lucky Vodka provides customers with an experience that is refreshing, smooth, and beneficial in every way possible. “

Our mission statement shows customers that if they drink our product they will have never experienced vodka as refreshing and smooth as ours. Based on our unique ingredients, our strength in the market is the feel of being refreshed and alive after drinking our product. 

Week 7 EOC: The Pitch

 The vodka I am creating is going to be called Lucky Vodka. The whole concept is to create vodka that is made from unique ingredients in order to give an amazing taste. The first ingredient that will be used is Waiakea Hawaiian Volcanic Water. This water is naturally filtered through volcanic rock and as a result is rich in electrolytes and minerals. The company is also deeply invested in giving back and has a program where for every liter sold, they don’t 650 liters to communities in Africa and around the world. We will incorporate this into our brand to so that customers will know that they are giving back while buying Lucky Vodka.  The next ingredient that will be used is spelt. It is an ancient grain. “Spelt is a member of the same grain family but is an entirely different species and has certain properties which make it in many respects quite different” (http://thespeltbakers.ca/what-is-spelt/). It will make Lucky Vodka come on very sweet, with notes of sugar and vanilla, then morph into dry, slightly spicy mineral flavors. The other ingredients that will be used include ginger and mint. The mint will enhance the sweetness of the spelt. The ginger will contribute to the spicy mineral flavor.  These ingredients however, will not drastically change the flavor of the vodka but just make the natural tastes stand out more.

The vodka will be a great base for vodka-based drinks but it will also be smooth enough to drink alone. It will be quadruple-distilled in order to get the best flavor and create the perfect balance. Lucky Vodka will not be considered a cheap brand of vodka. It will have good quality but be priced $25.95 for 350 mL bottle. The bottle will be clear to show that the vodka is clear and the brand color will be green. Our packing will include shades of green.