Price

“The marketing mix is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as “the four Ps”: product, price, place, and promotion.”

“Price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice.”

“The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justify higher prices. But if the company promises greater value, it must then deliver that greater value.”

“Pricing: No matter what the state of the economy, companies should sell value, not price.”

“Smart managers treat pricing as a key strategic tool for creating and capturing customer value. Prices have a direct impact on a firm’s bottom line.”

“More importantly, as a part of a company’s overall value proposition, price plays a key role in creating customer value and building customer relationships.”  

(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)     

Hookah Tobacco: $8 regular; $10 special mixes

Smoke-in hookah price: $15; $4.50 refill; $20 per person all you can smoke

Specialty drinks: minimum $8

Beers: $4-$5

Appetizers: $4-$6

Sandwiches: $7

Plates: $12

Promotion

I’m going to promote and network by creating a Facebook page where the customers can connect and be involved with Smokin’ Karaoke. Since my bar is a karaoke bar, I’m going to have people participate on Facebook by creating a video of them singing karaoke. Each week there will be a contest for best singer and whoever gets the most votes will be featured on the Facebook and YouTube page as best singer of the week. It will help promote my business because the people who participate will ask their friends on Facebook to vote for them and more and more people would have to view the Facebook page for Smokin’ Karaoke. A lot of singers would be able to get their name out and my business would be able to get its name out as well. In order to view the videos and vote you have to “Like” the Smokin’ Karaoke page which will get more people to know about the business and see what type of specials or events are going on. I will also be posted flyers on Facebook that will promote all the events and specials. Once a week I will be having themed nights and hookah specials which will all be promoted on Facebook.  

Distribution

“The major marketing mix tools are classified into four broad groups, called the four Ps of marketing: product, price, place, and promotion.”

“To deliver on its value proposition, the firm must first create a need-satisfying market offering (product). It must decide how much it will charge for the offering (price) and how it will make the offering available to target consumers (place). Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion).”

(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)        

My tobacco brand will be found and sold at my own business/bar, the Smokin’ karaoke and they will be sold individually for $8 dollars a pop and $10 dollars for special mixes. You can also view and purchase them online on Smokin’ karaoke’s personal face book or business website. Because I will use my own brand of tobacco for the hookahs at my bar, people will try it when they order a hookah and if they like it, they can purchase the tobacco at my bar which will keep them coming back. Instead of ordering the tobacco from another company, I will make my own in affordable and efficient ways and sell it directly at my bar.

Product

“Marketing consists of actions taken to build and maintain desirable exchange relationships with target audiences involving a product, service, idea, or other object”

“The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features. Under this concept, marketing strategy focuses on making continuous product improvements.”

“Product means the goods-and-services combination the company offers to the target market.”

“Marketers want to develop unique market positions for their products. If a product is perceived to be exactly like others on the market, consumers would have no reason to buy it.” 

(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)             



One of my products is my tobacco brand that I will sell at Smokin’ Karaoke. The tobacco will be used and sold at my bar. The hookah that will be served at my bar will use my tobacco product. My tobacco brand is called Wacky Baccy. I have a large variety of flavors that will continuously grow and expand. Some of the flavors that I offer are hubbly bubbly (bubble gum), white grape, and margarita. My other products will be my delicious combination of Middle Eastern food/all American food and my alcoholic beverages. My menu consists of food such as falafel sandwiches, gyros, chicken fingers and fries, lehmajoon (middle eastern style pizza), tabbouleh (salad), Chicken and beef and shrimp kabobs, grilled cheese (original or middle eastern style with spices), and rice. My bar will have a variety of specialty drinks named after famous singers.

EOC week 8: Creative content

For my creative content, I'm going to take a picture of the building that I chose and I'm going to create a logo for my business name and Photoshop the logo onto the building. Then I'm going to try to take pictures of the interior of the building and Photoshop how I would like it to be. The interior will have a stage area for the karaoke, tables and chairs for the diners and hookah smokers, a bar area, and private rooms for private karaoke parties which will have couches and pillows for people to sit on. The rest of my creative content will include pictures of the types of food that will be served at my bar. I will also create a logo for my tobacco line that I'm creating for my bar, and take pictures of the final product. The different creative contents that I have are going to be compiled in a folder like a portfolio.

BOC week 8: Business description

I came up with a name for my Hookah Karaoke bar which is, Smokin’ Karaoke. My theme for my bar is a cross between authentic Middle Eastern and all American, so that you can get the best of both worlds. I thought of a few other ideas to keep the customers entertained, for instance: Having a theme night once a week where customers can participate in a certain theme and genre of songs and they can dress up and go all out. My other idea is to have a competition once a week for the best performer, and whoever wins gets their picture put up on the wall of fame and they get to pick the hookah “special” of the week, which will be named after them. The food menu consists of a combination of authentic Middle Eastern and American food like Gyros, Falafel sandwiches, French fries, kebob plates, chicken fingers and much more. I decided that I want to create a new line of hookah tobacco called Wacky Baccy and sell it at my bar. My hours will be from 11am-2am and karaoke starts at 5pm. The bar is open for lunch as well, therefore it’s open earlier. The bar will be open from Monday-Sunday.

                                                           Pictures taken by me.

Target Market Strategy

“Deciding on a target market and positioning for a retail store are very important marketing decisions. In a small group, develop the concept for a new retail store. Who is the target market for your store? What retail atmospherics will enhance this positioning effectively to attract and satisfy your target market?”

“Changes in demographics mean changes in markets. So they are very important to marketers. We’ll first look at the biggest demographic trend—the changing age structure of the population.”

“Do marketers need to create separate products and marketing programs for each generation? Some experts warn that marketers need to be careful about turning off one generation each time they craft a product or message that appeals effectively to another." (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing) 

I want my bar to be a fun place for all ages to come together and have fun but my target market will be aimed towards males and females between the ages of 18-30. It’ll be mostly young people who work or go to school and want to relax and get their mind of off school or work. A lot of young students get stressed out from school or work and they decide to go out with a group of friends so that they can drink and relax, there for they would be a target. Most of them would most likely be single (not married) and either living with parents, roommates, or alone. Majority would be locals who live in Las Vegas /Henderson area. I think this age group is perfect for my bar because those who are 18 can smoke hookah and those who are 21 and older can stop by and have a drink. This age group likes to go out, have fun and drink, which is why they are my target group.

SWOT Analysis

"An effective marketing program blends all of the marketing mix elements into an integrated marketing program designed to achieve the company’s marketing objectives by delivering value to consumers. The marketing mix constitutes the company’s tactical tool kit for establishing strong positioning in target markets."

"The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)" (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)

S-  My strengths and advantages are that I have multiple forms of entertainment for the customers and It'll be the first time that karaoke and hookah is combined as a business here in Las Vegas. Another strength is that the bar offers culture and diversity and people love to try new things and experience different cultures, which is why my business will have a combination of the middle eastern culture and american culture. 

W- One of my weaknesses is that I have a lot different options at my bar starting from food,drinks,hookah,tobacco, and karaoke, and I will need to invest a lot of money at first to provide all those options, therefore I need to find a way to cover all those costs by making up for it in profit. 

O-  Because I'm running my own hookah lounge I will have to opportunity to sell my own tobacco products for hookah instead of buying them from other distributors. 

T- Since hookah has become very popular, a lot of people are opening up new hookah lounges, so that could potentially be a threat to my business because I have to compete with their prices and menus and keep it interesting enough for people to keep coming to my hookah/karaoke bar. 

Objectives

“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.”

“Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives." (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)                   

      

My objectives are to:

• Create an environment that people would want to come and hang out in
• Make enough profit to cover the costs of all my items and entertainment
• To hire all the best employees that are knowledgeable about the culture and or quick learners that can pick up on everything they need to know.
• To have low enough prices to be affordable but also achieve enough income to cover all my costs and make a profit.
• To hire a skilled DJ that will keep the crowd pumped and to offer a vast variety of songs for my karaoke portion
• To maintain the taste of authentic Middle Eastern food the way that it is served the home cooked and traditional way

Business Mission Statement

A mission statement is “a statement of the organization’s purpose—what it wants to accomplish in the larger environment. Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace.” 
(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)        What I want to accomplish with my business is providing a place where young people can kick back, relax and wind down after a hard day at work or school. I want people to come and have fun and be carefree for a couple hours while singing karaoke and enjoying a nice hookah. The environment at Smokin’ Karaoke is very cozy, intimate, and relaxing and will help you wind down and enjoy good company after a long day. My hookah/karaoke bar serves food, alcoholic/non-alcoholic beverages, and hookah with a large variety of flavors and specials to choose from. The Menu consists of traditional middle eastern food and all American food, giving you the opportunity to choose from a variety of foods depending on your taste. Karaoke will be provided daily without extra charge and anyone who is willing will be able to participate. With my new business arising, you’ll be able to enjoy the best of both worlds that you wouldn't be able to get at a regular hookah lounge or a regular karaoke bar. Now you can enjoy a nice meal, a cold beverage, a delectable hookah and some entertaining music, all in one carefree and relaxing environment. Not a big fan of being the center of attention? Well now you can participate in karaoke without any extra eyes on you. We provide private rooms that are available to rent out for a night of fun with a close and personal group of friends/family.

Week 7 EOC: Business Pitch

I came up with the idea of a Hookah karaoke bar. I know that a lot of young people my age like hookah lounges and karaoke bars but I haven’t been to one yet that combines the two. I decided to use a venue that was previously just a hookah lounge/restaurant but closed down. The location is, 9460 S Eastern Ave, Las Vegas. My hookah karaoke bar will be called, Smokin’ Karaoke. I want my bar to have a kitchen and a full bar for food and drinks. The bar will be open from Mon-Sun. It will be open during the day and at night because there will be a lunch/dinner menu and karaoke starts after everyday 5pm. My theme is going to be a cross between authentic Middle Eastern and all American so that people can enjoy the best of both worlds. I will provide a large variety of songs for the customers to choose from and I will have a theme night once a week where the customers can participate and dress up as a part of the theme, for instance: Country music night, 90s music night, etc. I also would like to have a contest once a week for best performance. Whoever wins best performance of the week gets to have their picture hung up on the wall of fame and they get to choose the hookah special of the week, which will be named after them. I think that my business plan will be successful because it provides different options for people when they come together and hang out. If there is a group of people that go to smokin’ karaoke, those who like to smoke can smoke hookah and those who like to sing can participate in the karaoke or they can do both. I want this bar to be a place where adults of all ages can all get together, smoke, eat, sing, drink and have a good time.

                                                                     
                                                                 pictures taken by me.

week 6 EOC: Me x3

The three things that I own, that define me are my Canon Rebel xs camera, my cat Jude and my 1950’s collectors Barbie doll. Starting with my camera, I think it defines me because I’m always walking around taking pictures with my camera. It shows that I’m interested into art/photography and that it’s my hobby. It defines me because photography is one of my passions and being able to have my camera and capture special moment’s means a lot to me. Art and creativity is what defines me and photography is a part of art. The second thing that defines me is my cat Jude. I believe he defines me because having a cat shows that I am an animal lover. Even though it might sound silly, my cat is one of my best friends and he has become a huge part of my life. He always follows me everywhere I go and he’s like a part of the family. Another reason why my cat defines me is because he is named after The Beatles song, “Hey Jude”. The Beatles are one of my favorite bands and having my cat named after their song defines what type of music I’m into. Lastly, I believe that my 1950’s Barbie doll remake that I have in my room defines who I am. A few years ago, Barbie reproduced the original 1959 Barbie doll for their 50th anniversary and my sister bought me one for my birthday because she knows that I love the 50’s. Right away I decided to display it in my room where everyone can see it because my room is decorated with a combination of all my favorite things. I thought that the doll would be a perfect addition. That doll defines me because the style from 1950's is my signature style, all my family and friends know that I love that era, and having that doll represents who I am and what I like.

                                       The photos in this post were all taken by me!

Week 5 EOC: Superbowl commercials.

There was one super bowl commercial that caught my attention the most and that was the taco bell commercial of the group of elderly people who were out partying. “You're only as old as you feel. That's what Bernie Goldblatt and friends learned after a wild night out from the nursing home. A Spanish version of "We Are Young" plays in the background. They go swimming, light firecrackers, dance at a nightclub, get tattoos and eat at Taco Bell” (source). I thought their concept was really clever because they were targeting the younger crowd and I think it worked. It definitely got some attention and reviews on twitter. Many people tweeted that it was the best commercial of the super bowl this year. I think it was clever because a lot of young people now days like to go out, drink, party and then end the night by stopping at taco bell, since it’s one of the fast food places that are open later. “One of the reasons why this commercial is so creative is because of the genius subtlety by Taco Bell of owning up to being the go-to late-night stop after a night of hooligans and partying”(source). The younger crowds that like to party are in that state of mind where they don’t want to grow up, they just want to keep enjoying the moment, having fun and enjoying their youth. By showing a group of elderly people living that lifestyle, they are saying that it’s okay to continue partying and living that careless lifestyle. They were almost selling that lifestyle in the commercial, therefore people are going to keep partying and making their pit stop at taco bell. The motto of the commercial was “live mas” which means “live more,” and the theme song was “We Are Young”. Their motto is similar to the motto that a lot of young people have been using lately, which is “YOLO” (You only live once). “According to TiVo, Taco Bell's ad was the most watched spot of the entire game. The Taco Bell commercial was also the second-highest search term on Yahoo!”(source)