User talk:Jerky boyz

MKT 672
Project

Introduction
Skittles Soda Pop

Nature of Demand
There is a reasonable amount of brand awareness and loyalty available for out product. Since Skittles is already a brand name in the consumer market, people are aware of it. So introducing a new Skittles flavored soda won't be as difficult product to introduce into the market and make people aware of it. -Adnan-

Competition
Since we will be choosing the Coca Cola Co. as the distributors of our product, our main competitor will be the Pepsi Cola Co. Our other competitors could include smaller soft drink or beverage companies. -Adnan-

Environmental Climate
Relevant social, economical and technical conditions?

Stages of the product life cycle
I guess our product life cycle will be that of a typical new soda being introduced into the market. Our main concern will be introductory stage of the life cycle since we will be introducing a new soda into the market. So we would need of a way to attract the consumers to it. Once it has been introduced, the growth part of the life cycle should be steady since we will be attracting new consumers to the soda as well as the people who are aware and brand loyal to the Skittles brand. -Adnan-

Cost Structure of the industry
For us, it will be primarily a fixed cost industry. Since our main costs would be getting the Skittles candy from Skittles manufacturing company (I think it is Nestle. Pay some sort of copyright fees since we are using the Skittles brand name as well as the Coca Cola Co. brand name since we are using them to help distribute our product. We will also have costs for packaging the product in plastic bottles or aluminum cans.

Advertising and marketing costs. However these costs I think will be variable costs since we will be using various techniques to advertise our product such as TV, Newspapers, Flyers, etc. -Adnan-

Skills of the Firm
We wont require that much on R&D since we will be only converting candy into a soda drink. -Adnan-

Financial Resources of the Firm
Where will the funds come from?

Distribution Structure
I guess we will be using the channels that are used to distribute soft drinks (soda) into the market. It will be difficult at first to gain entry into the channel. However through a good marketing plan and effective advertising we should be able to build enough of consumer base to be able to exist successfully in the channel. -Adnan-

Marketing Strategy
Our main goal is to create an effective marketing strategy to help promote our new product in the market and succeed at it.

Objectives
We basically will 2 main target markets. Kids from 7-12 and then 13-to college kids. However we will not be targeting te older/adult generation or the older females. -Adnan-

Advertising
I guess the most commonly used method would be ads in newspapers and TV. -Adnan-

I have added an example ad we could use to promote our product. The file is located under user contributions. Let me know what you think of it. -Adnan-

Pricing
The best way I think to price the product is by starting off low. Since regular soda prices range between 60cents (cans) to around $1-2 (bottles), we could start of by introducing the soda at prices around 20-30cents to get people aware of the new product. Plus having a low price entices a new person to try a new product. Once we start building a customer base and have enough people be aware of our product, we can slowly start increasing the price to the regular price for sodas. -Adnan-

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ECO 500
Fed Minutes Suggest Next Rise In Rate May Be Last for a While A2 Wednesday April 19th 2005/ 4/25/06

The article discusses how after raising the interest rates in late March, the Federal Reserve officials concluded they were almost done in the lengthy process of tightening monetary policy, meeting minutes show. In class at the moment we have been discussing topics like monetary policy, the Federal Reserve "The Fed", the Federal Reserve Banks and the Federal Open Market Committee (FOMC). Monetary policy are the policies affecting the money supply, interest rates, and credit availability, that are intended to promote national macroeconomic goals-particularly with respect to employment, gross domestic product, price level stability, and equilibrium in balance of payments. Monetary policy is directed primarily by the Board of Governors of the Federal Reserve System and the Federal Open Market Committee. Monetary policy works by influencing the cost and availability of bank reserves. This is accomplished through open-market operations, the purchase and sale of securities (primarily government securities), changes in the ratio of reserves to deposits that commercial banks are required to maintain, and changes in the discount rate and the Federal funds rate. The Federal Reserve "The Fed" is the central bank of the United States; it incorporates 12 Federal Reserve branch banks and all national banks and state charted commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply". Federal Reserve Banks in the case of the U.S consists of of 12 Federal Reserve Banks, each responsible for a particular district, and some with branches. The Federal Open Market Committee (FOMC) meets meets eight times a year to evaluate the threat of inflation or recession. The FOMC is a 12-member committee consisting of the seven members of the Federal Reserve Board and five of the 12 Federal Reserve Bank presidents. The president of the Federal Reserve Bank of New York is a permanent member while the other Federal Reserve Bank presidents serve on a rotating basis. The committee sets objectives for growth of money and credit that are implemented through purchases and sales of U.S. Government securities in the open market. The FOMC also establishes policy relating to Federal Reserve System operations in the foreign exchange markets. For example, the FOMC may raise the interest rate that the Federal Reserve charges member banks with the goal of tightening credit and limiting inflationary growth. Or it may lower rates to encourage borrowing and economic expansion. Or, it may take no action. The article also goes on to discuss how the record gave the strongest signal yet that an expected rate increase by the Fed at its next meeting may be the last for some time. The minutes cheered the investors, while the Dow Jones Industrial Average surged 1.76% to 11268.77 and the bonds rose. It also goes on to state that future markets expect the Fed to raise the funds rate target to 5% at its next meeting and put up a 54% probability that it would raise the rate further 5.25% at its June meeting. However according to the minutes and the other Fed commentary, it suggests that the Fed officials don't yet see a case for a June increase. After the minutes' release, the markets shaved the probability of a June increase to less than 30%.

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