Entrepreneurship Is From a French Article Review

Excerpt from Article Review :

Since the ultimate goal of EPC cigars is twofold: increase U.S. market share among cigar aficionados and establish a means by which non-smokers are willing to try cigars, there is no gray area in the type of person (male, single or upwardly mobile) that must be reached through advertising. But who uses Facebook and Twitter? Certainly not the 50+ business executive?

EPC decides, ultimately, that in order to actually grow the market, the social networking option is the one to try -- it is aimed more specifically at the type of user that will be the future of the company, and who are likely to be far more vocal about what it is they "like" about the product, image, and service. However, EPC is caution, it has $300,000 for advertising, and will only grant $40,000 to the social networking side; preferring to place the bulk of the advertising dollars into trade shows; cigar-enthusiast events, POS materials, and traditional media.

Within a few months, EPC has 250 avid Twitter Fans and over 700 Facebook devotees -- small numbers but very dedicated and vocal. When a product comes out that only has 25,000 units (limited edition cigars released monthly), 1,000 people can make a huge difference. The innovation also helps the owners, one of whom handles Twitter, the other who updates Facebook; keep a pulse with both the consumer and the business, and better decisions result. Combine that with the added "soft" push to the retailer, and one has innovation and advertising loyalty -- the techniques of the future. Finally, if EPC's $300,000 in marketing investment is producing $1.5 million in sales, that is only 20% on all advertising and marketing -- plus the added benefits. Most would agree, this combination looks like it is working ("Did EPC Cigar," 2010).

Sources:

Textbook (you will need to fill in)

REFERENCES

"Did EPC Cigar Pick the Right Marketing Campaign?"(February 24, 2010). The New

York Times. Cited in:

http://boss.blogs.nytimes.com/2010/02/24/did-epc-cigar-pick-the-right-marketing-campaign/

Levere, J. (February 25, 2010). "Choosing a marketing Plan: Tradition or Social

Media."The New York Times. Cited in:

http://www.nytimes.com/2010/02/25business/smallbusiness/25sbiz.html?ref=sm

"Searching for the Invisible Man." (May 9, 2006). The Economist. Cited in:

http://www.economist.com/business-finance/displaystory.cfm?story_id=E1_VGDTRJD

Sources Used in Document:

REFERENCES

"Did EPC Cigar Pick the Right Marketing Campaign?"(February 24, 2010). The New

York Times. Cited in:

http://boss.blogs.nytimes.com/2010/02/24/did-epc-cigar-pick-the-right-marketing-campaign/

Levere, J. (February 25, 2010). "Choosing a marketing Plan: Tradition or Social

Cite This Article Review:

"Entrepreneurship Is From A French" (2010, March 28) Retrieved October 18, 2019, from
https://www.paperdue.com/essay/entrepreneurship-is-from-a-french-1076

"Entrepreneurship Is From A French" 28 March 2010. Web.18 October. 2019. <
https://www.paperdue.com/essay/entrepreneurship-is-from-a-french-1076>

"Entrepreneurship Is From A French", 28 March 2010, Accessed.18 October. 2019,
https://www.paperdue.com/essay/entrepreneurship-is-from-a-french-1076