Phresh Vodka Pt. 3

“Demographics are significant because the basis for any market is people. Demographic characteristics are strongly related to consumer buyer behavior in the marketplace” (Lamb, pg. 34). Since demographics are so important we have it narrowed to the age group of 21-40. It seems like a big gap but since we are targeting the Hip-Hop culture these are the people that were with Hip-Hop in the beginning and are with Hip-Hop now. This can bridge the between the old school and new school. By going for this age group it will show that the product represents the past and the future of the Hip-Hop culture.

“The written marketing plan provides clearly stated activities that help employees and managers understand and work toward common goals.” (Lamb, pg.16) All of what I have stated above will be included in a marketing plan. The business mission statement is: Phresh vodka represents class, style, and individual swag. It’s inexpensive, and it won’t get you sloppy drunk so that everyone who are able to drink can do so without loosing style points for what happens when you are drunk. It keeps you at the swag you want to be. Although Phresh has its own unique swag in liquor it will also keep the same individuality in how it branches out and in the Hip-Hop community. “The way a firm defines its business mission statement profoundly affects the firm’s long-run resource allocation, profitability, and survival…the firm’s mission statement establishes boundaries for all subsequent decisions, objectives, and strategies.” (Lamb, pg.18)

The objective of Phresh vodka is to show that you don’t have to be a celebrity to feel like one. This is why we have a low price but still keys the quality of a top shelf price, because just because you can’t afford something the quality of what you can should not be less. This is basically for Hip-Hop to have liquor that represents the class and not the negative elements that is normally attached. “Objectives should be realistic measurable and time specific” (Lamb, pg. 18)

While I conducted my SWOT analysis my internal strength would be that the company knows a lot about the market that they are trying to reach. We know the background and it’s people. The weakness would be that because we are so into making sure that the Hip-Hop culture is represented in this product that we might be loosing a consumer that may feel that the product is not for them even though that it can be. The external opportunities would be the different ways we promote the product, making sure that we keep things as “Phresh” as the name. The threats are the other liquors that are a preference to the Hip-Hop community like Grey Goose, and Hennessey. “Before specific marketing activities can be defined, marketers must understand the current and potential environment that the product or service will be marketed in.” (Lamb, pg 18)