Moon Mint Company Background Moon Mint Industries was established June 10 th 2014 by business partners Anthony Johnston Christopher Green Jake Neilson and Khalid Shalaby The idea of Moon Mints a candy that can change youre taste buds was brought up because of the major Fac ID: 343427
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Slide1
“TASTE THAT’S OUT OF THIS WORLD”
Moon MintSlide2
Company Background
Moon Mint Industries was established June 10th, 2014 by business partners, Anthony Johnston, Christopher Green, Jake Neilson and Khalid
Shalaby
.
The idea of “Moon Mints”, a candy that can change you’re taste buds, was brought up because of the major Facebook phenomenon known as “moon melon”. - Moon melon was told to be a fruit in Japan that could change peoples taste buds for a limited time.This extravagant fruit however did not exist.. or so we thought. Moon Mint Industries has successfully extracted the key ingredient to our new product from “miracle berries”, a South African fruit that changes your taste buds, in order to make this dream become a reality.Without further ado we would like to introduce to you Moon Mints!Slide3
Moon Mints
The most revolutionary product in the candy market. Tailored to people of all ages.Pop one in your mouth and unravel the magic of Moon Mints.
No potential health risks.
Low sugar!
Slide4
Demand & Supply
Factors that could influence the demand and supply for our product:1. Competition
- due to Moon Mints being a new product there will always be people out their trying to duplicate our secret recipe. Because of this, demand of our product may decrease due to “copy cats”.
2. The Economy - the economy can directly affect our supply due to the amount of money flowing through the country.3. Limited Supplies - yes the miracle berries can always be regrown but the climate needs to be just right, which could influence our supply later on in the future.Slide5
Target Market
Demographics
Pyschographics
Ages:
14-21- Outgoing, OptimisticGender: Male & Female- Willing to try new things
Occupation: Students
- Not worried
about any health risksSlide6
Purchasing Influences
Psychological:
Social:
Teens would influence each other into buying the product
An increase of purchasing power from peers and among co-workersSituational:Miracles berries are an extensive product as it is set as a “new” idea for candy.Slide7
Competition
Competitors:Ice BreakersExcel Mints
Mentos
Live Savers
Candy Flavours
Moon Mints
Ice
Breakers
Excel Mints
Mentos
Life Savers
Mint
Yes
Yes
Yes
Yes
No
Green Apple
Yes
Yes
No
NoYesCitrus LemonYesNoNoNoYesMixed BerryYesYesNoYesNoSlide8
SurveySlide9
Survey Data
Summary of our 5 “best questions”.Most are males (70%)All surveyors are students (100%)
Surveyors said they would only 0-50 cents for candy brand items (50%)
6 people said they buy candy every week (30%)
15 people predict this product would be successful (75%)Slide10
Product Life Cycle
Moon Mints are on the introduction phase of the product life cycle. The introduction phase means that the product is just starting to hit markets and sales are just starting to take
off.Slide11
Product Elements Chart
Product
Elements Chart
Basic Product:
High quality, made with more unique and flavorful ingredients.
The main feature is that it alters taste for a limited amount of time.
The only options are
flavours
.
Usage:
There
are no instructions, no installation, but we do offer 24/7 supports to call for any questions or feedback.
Protection:
The
packaging is a small plastic package with a moon image on the front of it.
There are no maintenance or repair services.
Name:
The
product name is “Moon Mints”.
The brand name is “Moon Mint Industries”.
Personality is crazy, fun, and wild.Slide12
Brand Name
Moon Mints Industries:The brand name is popular because it
can be found in many stores and is advertised through publicity.
Moon Mints are known for there quality and unique features.
They have a reputation like no other due to memorable experiences customers have will “under the influence “of Moon Mints.Slide13
Product Logo
SimpleElegantProfessional
The product logo is something easy to remember yet is very unique. The perfect combination for a successful logo.Slide14
Slogan
Our slogan is “TASTE THAT’S OUT OF THIS W RLD”.
Reasons why this slogan is effective:
I
t symbolizes that the taste has no boundaries and the O in world is the moon in our logo.Another reason the slogan is effective is because “out of this world” is a common saying, which is good because Moon Mint will become associated with it.Slide15
Brand Image
One thing Moon Mint Industries can do to improve its brand image is donate money to local organizations and charities so that people can see that Moon Mint Ind. is a down to earth company that gives
back.
If
Moon Mint donates to locale charities like the Food Bank then the communities will know the company cares about everyone.Slide16
Price Factors
Three factors that will influence our price are:1. Competition
- The more competition, the more the price needs to be lowered to keep our competitive advantage.
2. Cost to Manufacture
- The more expensive the ingredients are, the more expensive our product will become.3. Cost to Transport - The more it costs to transport the ingredients along with the end product will affect the cost of our product.Slide17
CompetitorsSlide18
Price
The price for a package of Moon Mints is $3.97. The reason for that price
is
due to the uniqueness of the product is. Because
it is higher quality and more unique this makes the cost increase. Also the rare ingredients means more costs for shipping.Slide19
Supply Chain DiagramSlide20
Promotion
There will be two promotional efforts
Moon Mint Ind.
will make;
a coupon, and a free sample.The coupon would entice people who have tried and liked Moon Mints to buy more because there is a sale. They feel like it is a deal so is makes sense to buy it. The coupon will be in store flyers and convenience stores for pickup.The free sample would be the best form of promotion because it gives people the opportunity to try for themselves and believe the taste changing properties.Slide21
Media Presentation
There are 3 pillars to the selling techniques we will have here at Moon Mint Industries. - Benefits, Advantages, LifestyleSlide22
Benefits
Moons Mints will have many benefits to them. Such as being able to eat a food you don’t normally like but is healthy for you and have it taste like something else.
The miracle berry extract as well has healthy properties to it such as vitamins. Slide23
Advantages
Advantages to Moon Mints:HealthyInexpensive
High in quality
New to the market (adds more choice)Slide24
Lifestyle
Moon Mints can be connected to everyone lifestyle.Have you ever ate a food you haven’t particularly liked but is “good” for you?
Well look no further Moon Mints can make that boring old bland taste into something that you love within just a few minutes!
Do you like parties?
If so Moon Mints can be the life of a party because of how fun they can be when eating different types of food!Slide25
The Role of Government
The government will impact our products in varies ways. Whether it be through:1. Corporate
Taxes
- This
will effect the cost of our product directly due to the high taxes here in Canada. Lower Rate =4.5% Higher Rate = 11.5% 2. Canada’s Food Processing Guidelines - This will impact our product due to having to make sure to follow each law or we could get into legal trouble.
3. Pending Legislation on High
S
ugar Content Products
- This legislation will create a “sugar tax” which will directly impact our products price.Slide26
The Business Cycle
Canada is currently in the recovery stage of the business cycle.
Because of this, promotional activities will be slightly different then they will be in the future. You will notice differences such as more coupons available and more sales.
As well, our price will be on the rise, gearing up for the next stage of the business cycle.Slide27
Running the Business
Products needed to run our business will include:The ingredients (miracle berries, sugar, corn syrup and artificial
flavouring
)
High capacity cooker and mixer (origin: U.S)Automatic mould forming machine (origin: Germany)Hard candy wrapping maching (origin: U.S)Slide28
Place
Moon Mints will also be available to purchase in the United States. We have chosen to sell our product here as well because it is home to
the candy capital of the world, Chicago, Illinois. The U.S is highly populated and candy is sold in vast
amounts.
The U.S uses the “American dollar” as currency and the current exchange rate between the “Canadian dollar” and it is: $1 CAN = 0.97 cents USSlide29
Adaptation Marketing Strategy
As a business enters a new market, it must cope with cultural and demographic differences in the way it handles marketing. Some businesses choose a standardization model, in which the business appeals to universal needs, wants or goals in its marketing. An alternative, the adaptation marketing strategy, forgoes universality in favor of tailoring marketing to appeal to the cultural or demographic particulars of customers in the new market.
Our reason for choosing this strategy is because
no one
has come out with a candy that will change your taste buds. Meaning that we are going in the candy market with a whole new idea, so by appealing to the cultural or demographic particulars of customers in this specific market we will keep the same customers that have already been in it.Slide30
Social Responsibility
The non-profit organization we have chosen to support will be the Make-A-Wish Foundation. Making a dream become a reality is what our company was based on in the first place and that’s what we plan to do for people in need everywhere!
Moon Mints can change peoples taste buds, so why can’t it also change people lives?
Advantages:
1. Publicity2. Build a good company reputation3. Build connections for help later on down the road4. Give back to the communitySlide31
Global
Marketing Trends1. Greater Retai
l Power
- Have more “popular” retail stores carry our product.
2. Online Sales - Making Moon Mints available for purchase online (delivery right to your door).3. Innovation - Sugar Free4. Expertise - Making sure each of our sales representatives are the best in the business.Slide32
Website
www.moonmints.weebly.comSlide33
Bibliography
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_Spenner, Patrick. "2014 Marketing Trends You Probably Haven't Heard." Forbes. Forbes Magazine, 13 Jan. 2014. Web. 18 June 2014. <http://www.forbes.com/sites/patrickspenner/2014/01/13/2014-marketing-trends-you-probably-havent-heard/>."Maslow's Hierarchy of Needs." Simply Psychology. N.p., n.d. Web. 16 June 2014. <http://www.simplypsychology.org/maslow
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