Marketing Mix : Evaluation Control

"The company first develops company wide strategic plans and then translates them into marketing and other plans for each division, product, and brand. Through implementation, the company turns the plans into actions."  (Ch. 13, P. 416.)

 Our name itself will brand us as a unique and attractive company.  Our online street team will help get our main "Tiki Taco Truck" twitter page & FaceBook fan page more followers & "Likes".  Like I said, like any realistic company, we don't expect to make a million dollars or retire from our service.  Our first and only priority is to create something new and share it with the world.  

Marketing Mix : Price

"Even small differences in price can signal product differences. Consider a stereo receiver priced at $300 compared to one priced at $299.99. The actual price difference is only 1 cent, but the psychological difference can be much greater. For example, some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality. Some psychologists argue that each digit has symbolic and visual qualities that should be considered in pricing. Thus, 8 is round and even and creates a soothing effect, whereas 7 is angular and creates a jarring effect." (Ch. 9, P. 42)

So that my food truck stays in business, pricing is key.  The quality of the food will be outstanding so that isn't to worry about, but how can we make the price match the quality of the food?  Of course, we won't last long if we charge $20 and up for a combination plate.  Unless, we purposely change the crowd of people we are aiming our advertisement towards.  We won't do that, however; so we'll have to stay cheap and affordable to the convenient buyer.  Since there really isn't a competitor price for Hawaiian Mexican food trucks, we should have a fair amount of leverage in that area.  The majority of our food, (single item plates) will be $5 and under.  Our combination plates (3 items) will be available for $5-10, but no greater.  Also, there will be no taxes, so we will have the right to declare ourselves a tax-free service. 

"A company also must decide how to price its products for customers located in different parts of the country or world." (Ch. 9, P. 44)

Marketing Mix : Distribution

"Distribution channel decisions often involve long-term commitments to other firms. For example, companies such as Ford, HP, or McDonald’s can easily change their advertising, pricing, or promotion programs. They can scrap old products and introduce new ones as market tastes demand. But when they set up distribution channels through contracts with franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Web sites if conditions change. Therefore, management must design its channels carefully, with an eye on tomorrow’s likely selling environment as well as today’s." (Ch. 10, P. 5)
 Our food at Tiki Taco Truck will be accessible only through our food truck.  No one else will be able to sell it in their complex or under their name.  This is what will make our brand so valuable.  Something like the way Apple does their business.  How you can only get Apple products from CERTAIN locations, except our food will be available only through our Tiki Taco Truck mobile vendors.   This is what will make our food extremely authentic. 

Marketing Mix : Promotion

"Sales promotions are usually used together with advertising, personal selling, direct marketing, or other promotion mix tools. Consumer promotions must usually be advertised and can add excitement and pulling power to ads. Trade and sales force promotions support the firm’s personal selling process."

Without promotion, our food truck is just another food truck.  With the help of the internet and social networking media's and websites we will achieve another platform in the mobile food trucking industry.  Of course, we will have gift cards as well as a part of our promotional strategy.  People will be able to buy $10-$50 gift cards from us either online, or personally at our food truck.  Also, every 100th customer of the day will receive either a free meal or a discount on any gift card.  Working together with local clothing brands, we will be able to fund events and promotions by collaborating together and promoting each others brands to each of our fan bases.

"Consumer promotions defined as, "Sales promotion tools used to boost short-term customer buying and involvement or to enhance long-term customer relationships." (Ch. 13, P. 39.)

Marketing Mix : Products

"The set of all product lines and items that a particular seller offers for sale." (Ch. 7, P. 22)

All food sold by Tiki Taco Truck will be fresh from the second you buy em' to the second they come out the other end!  We will be able to appeal to a lot of different ethnicities and even create new cravings by combining two completely different cultures and lifestyles into a one stop food truck.  Not only serving regular taco's made from beef, lettuce, tomato and cheese w/ sour cream, we will be able to mix in Hawaiian ingredients into our tacos to create something new.  

"These product mix dimensions provide the handles for defining the company’s product strategy. The company can increase its business in four ways. It can add new product lines, widening its product mix. In this way, its new lines build on the company’s reputation in its other lines. The company can lengthen its existing product lines to become a more full-line company. Or it can add more versions of each product and thus deepen its product mix. Finally, the company can pursue more product line consistency—or less—depending on whether it wants to have a strong reputation in a single field or in several fields." (Ch. 7, P. 23)

Situation or SWOT Analysis

"The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)." (Ch. 2, Pg. 31)

Strengths being:

1. Mobile food service is prepared to relocate upon major weather disasters, (earthquakes, hurricanes, etc.)

2. Able to take requests as to where our food truck is most requested at via social networking websites.

3. Amazingly delicious foods that will make any mouth water.

Strengths defined as, "Internal capabilities that may help a company reach it's objectives." (Ch. 2, P. 31)

Weaknesses

1. We only serve Mexican and Hawaiian influenced foods.

2. At first, our company might struggle for a while seeing as how it's a tough business.

3. Some people may be allergic to certain mexican foods or spices.

Weaknesses defined as, "Internal limitations that may interfere with a company's ability to achieve its objectives." (Ch. 2, P. 31)

Opportunities

1. Las Vegas has a ton of Mexican and Hawaiian people that would love our mixed culture!

2. Create a culture out of our food truck services and expand the culture all over our city, bringing forth something completely original and new.

3. Learn from our customers first hand what they would like to see maybe added or taken away from our menu via a simple survey!

Opportunities defined as, "External factors that the company may be able to exploit to its advantage." (Ch. 2, P. 31)

Threats

1. Definitely tornadoes, those guys are quick to dodge.

2. Other food trucks won't be seen as a threat because we have no competition.  Our food will be the best, greatest, and will be reputation-ed as the best to ever do it.

Threats defined as, "Current and emerging external factors that may challenge the company's performance." (Ch. 2, P. 31)

Objectives

At Tiki Taco Truck, our objectives are as follow

1. To provide a comfortable out-side gourmet experience.

2. To create a great experience for the paying customer.

3. To give back to the community through charitable events.

4. To insist our customers to spread the word about our company. 

" . . . the company’s objective is to build selective demand. For example, once DVD players became established, Sony began trying to persuade consumers that its brand offered the best quality for their money." (Chapter 12, P. 19)