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Aspects Of Marketing Plan Kellogg's Cornflakes

Question

Task: Prepare a short note by discovering all the aspects of Marketing Plan Kellogg's Cornflakes.

Answer

Introduction
In 1914, the Kellogg's company was being established in Canada which turned out to be a huge success which encouraged it to open its outlets and manufacturing units in other countries like Mexico, India, England, Australia, Japan, etc. The current market span of the company covers around 180 countries all over the world. The introduction of a new variant “Kellogg's All-Bran" which contained a relatively higher degree of fiber content was introduced in 1915 and had helped in attracting the health-conscious customers. The U.S economy is heavily predisposed towards Kellogg's company since it provided a lot of employment opportunities while the country was facing a very challenging situation of depression in the 1930s. The company had also been a very decisive force in historical events like providing military customized K rations for the US army in the second world war. It could be very fascinating to know that the travelers in the moon mission of Apollo 11 i.e. Buzz Aldrin, Neil Armstrong, and Michael Collins were used to take the products of Kellogg’s as their breakfast. The company has acquired the market by introducing its different variants at regular intervals of time, an instance of which is the introduction of Kellogg’s K bars on its 100th anniversary in the year 2006. The parent company of the Kellogg' cornflakes was first introduced in the USA in the year 1898. The company has earned a very reputed image in the global market by introducing various products to fulfill the demands and requirements of the customers. The standard package of cornflakes in the market of Canada weighs 440 grams. Although if considered the scope in the world economy, the company has not reached its desired potential or level of performance. If considered the domestic market of Canada itself, the majority of the population is unaware of any such brand name or product. The sale of the company product is limited to only a specific faction of the population. Hence a strong promotion campaign should be conducted by the company on a national level to maximize its accessibility by boosting its distribution process a simultaneously bringing awareness to the population regarding various benefits of consuming it. In this report on marketing plan Kellogg's cornflakes, an effective strategy promote the products of Kellogg's cornflakes is been recommended by utilizing the SWOT analysis tool.

Marketing Plan Kellogg's cornflakes

Please refer to the SWOT analysis matrix provided below

STRENGTHS

  • Negligible fat content
  • Premium Quality.
  • High Brand Value

WEAKNESS

  • Unawareness among the customers regarding the product
  • Very less rate of exports.

 

OPPORTUNITIES

  • High scope of growth in the health industry.
  • High rate of profitability because of the less expense in production
  • The pending areas and market to be covered under the campaign

THREATS

  • High level of competition faced by giant companies and new entrants in the market.        
  • High availability of similar substitutes in the market.

  


The management of the company should refer to this SWOT analysis and thus focus to even out the weakness prevailing in the market, sustain the strengths it already possess, try to maximize the efficiency and profit by making the maximum out of the opportunities, and try to leave behind the rivals in the competition by effectively facing and overcoming the threats.

Targeted Market
As per the observations made by experts in the market for Kellogg’s cornflakes, the market majorly consists of a higher-class community with higher income who are residing in the urban area. The products are only famous among the population of the Western community. This situation has emerged since the products of Kellogg's are very nutritious and the same time very easy and fast to prepare, which makes it extremely popular among the higher-class community who regard more value to the time they allot to each activity. The demographic group which concentrates more on the nutritious value and health benefits of the products comes under the section of children within 3 to 12 and senior citizens above 65 years of age. The fact that the adult community is not consuming the Kellogg’s product regularly is still a challenge to the company since the product was designed to be the meal whole for a family as a whole. The brand still requires to attract the consumers whose family could use this as a breakfast meal before the rushing hours for school or office.

As mentioned earlier in this marketing plan Kellogg's cornflakes report, the brand of Kellogg's has sustained the reputation of very health-oriented and nutritious food among the customers in the global market. Kellog’s products have created tremendous results among the obese people who have reputed as a quality premium product and a lot of people buy its product because their friends referred it to them. The Kellogg’s company has thus made a lot of alterations in the presentation of the product so that it should maintain its position of dominance in the global health food market. Although the company needs to shift the focus on the undiscovered sections of the market, it has limited most of the focus on the customers who buy their products frequently. The company now possesses a very hefty standard and reputation among the customers in the global market and has started a very strong campaigning program to increase the range of profit.

If considered several strategies introduced in the marketing plan Kellogg's cornflakes very strong campaigns are being used by the management of the company all over the globe. The market in which the company dominates because of the prolonged history and heavy sales would have made it project itself as a very premium and costly consuming product. The instance of Kellog’s operating in the domestic market of the USA is a very good example. The company needs to attract new potential customers in countries like India and Taiwan since the products are just picking up the pace of sales in developing economies. The company has much improved its packaging styles and introduced new flavors in its products. The company still owes a lot of potential in conquering new markets. The company has implemented a lot of new tools to achieve this criterion like movie tickets, Free in Box and Internet. The channel of internet and social media marketing had helped it in attaining a wide range of young customers. The company has also introduced some interesting games like car racing which contains the logo and strategical stages that resemble the products of Kellogg’s ('Sterling puts the shine back into a sunshine breakfast at Kelloggs', 2001). The company has also started distributing PVR tickets for movies and had attracted a lot of attention in the new markets. The advertisement strategies like the inclusion of 3 $ coupon and 5 $ coupons in the product wrapper have also made a great impact on the sales.

Targeted Market
The standard packs of Kellogg's corn flakes which weigh around 440gm are being circulated through the market by the channels of outlets, malls, supermarkets, mini-supermarkets retail shops, etc. The company has now widened its target group which may include teenagers, adults, and children between the ages group of 5 to 15 years. The domestic market of Canada has preferred mostly the standard package of 440 grams in a very large amount. At first, the management of the company was to provide the customers with a product that would suffice the needs of customers. It was made motto by the management and marketers of the company that all children in the nation should consume Kellogg’s cornflakes at least 3 times daily. The demographic data should be analyzed by the managers so that the areas with the highest number of children should be targeted for intensive campaigns and advertisements. The company should target the population between the age group of 16 and 30 years who are very particular about the food they are eating and hence they would be very attractive for a health-conscious population like this. This specific age group always tends to eat a portion of delicious food which could be prepared a minimum period. Even smart campaigning for high-quality products would lead to tremendous results. It has been observed that the age group coming under teenage and senior citizens are consuming the Kellogg’s cornflakes on a very large scale. Although the cornflakes seem to be light food it provides the person with the energy to work till afternoon. In the below section the targeted market for the Kellogg's cornflakes is depicted in a well-classified way.

Segment Name

Active millennials

Targeted to individuals who prefer easy to prepare breakfast.

Benefit Sort

High energy.

Kellogg's Cornflakes is rich in high energy

Demographics

Age, Taste, and preference.

It is consumed by individuals of (5- 60) years old age bracket.

Cohort

Millennials.

The easy to prepare a strategy for Kellogg’s Cornflakes works best for millennials.

Psychographics/ Lifestyle/ Val’s

Activists.

It is suitable for individuals who engage in activities that require the high energy of operation.

Usage Rate

Twice daily.

Consumers can take Kellogg’s Cornflakes twice daily. In the early morning and in mid-morning.

Usage Situation

For Breakfast.

Kellogg’s Cornflakes are designed to be consumed for breakfast.

Example

Competitive Nutritional Facts.

It contains Corn (89%), vitamins, salt sugar, vitamin E [soy], barley malt extract, (vitamin C, riboflavin, niacin, thiamin, folate), minerals (zinc, oxide, iron).

 

Marketing Strategy
If a company needs to sustain in a competitive market it has to derive out some of the best marketing strategies and hence increase the sales. The strategy could be developed by referring to the SWOT analysis matrix, the hidden opportunities and threats would make a better plan for the company which would put it ahead of its current rivals in the market. The use of visual media, television, posters, brochures, etc would give life t the advertising campaign of the company.

Position Strategy
A better understanding of the operational market would help the company in delivering a better positioning strategy before its boards. The way the clients and the costumers respond to the product, the way the produced is being introduced in the market should be reckoned with while deriving position strategy. The positioning strategy could include factors like the better packaging methodologies, its presentation, value to the cost, the methodology to promote the product in a very cheap way, etc.

Product
The units which are being supplied by the company to its customers should surpass the quality parameter of the products provided by the current rivals in the operating market. The appeal of the product could also be increased by adding some interesting flavors in the food. The attractiveness of the package should be enhanced by using better designs and using eco-friendly materials since it is the appearance of the product which drives the customer to buy it. It has been observed by the researchers that the appearance of the packaging would make a strong impact on the consumers and the inner content is only being analyzed by the customer after this stage.

Promotion
The use of paid media like television, news, paid websites, etc. would increase the appeal of the product to the consumer. A separate section of money should be set apart in the annual budget of the company to allow the funding for effective promotional campaigns. The advertisements in the morning shows and the morning news would be a very effective strategy to promote the products of Kellogg’s since the context would be very relevant for the context and background of the product. The advertisement of the product would also suit the time like in between the breaking news, the advertisement between the lunchtime news programs, evening news, primetime programs, etc. This idea would turn out very significant for the company since the Canadian population sticks to their tv and gadgets while this period. The living style and the purchasing trends of the Canadian population seem to be very positive and encouraging the further sales and marketing plan Kellogg's cornflakes. Hence adopting the better and appropriate campaigning strategy would bring the company to new heights and a very high range of profit. The use of a social media platform like Twitter, Facebook, and Instagram should be utilized by the company so that its advertisement could penetrate easily into the perspective of the younger generation. Along with it the public events like public rallies would increase the reach of the Kellogg’s products among the generation with a younger age. These sorts of events should be managed by the company by using some of its representatives who have very good managemental capacities. Unlike other channels of advertisement, the face to face is the most effective one and thus the representatives of the company should possess very high canvassing powers. Hence it would be a very brilliant move by the Kellogg's cornflakes companies of intensifying the campaign and promotion activities, which would eventually lead to a very escalated performance for the company in the market.

Price Placement
The company could manipulate the price of the units so that it could get an upper hand against its rivals since reducing the price would decrease the risk of any cheaper substitute. The consumers thus prefer the Kellogg’s cornflakes if juxtaposed with other similar products. The price at which the company provides its products in outlets like small shops, malls, supermarkets, mini supermarkets, and special Canadian Malls. There should be a very good analysis of the price conducted by the official team so that an appropriate price for the unit in the market should be determined. Thus, could be very important and significant for the future and profit of the company since the costumers hold the power to change their preference as per the price of the product. Marketing Plan Kellogg's cornflakes assignments are being prepared by our marketing assignment help experts from top universities which let us to provide you a reliable best assignment help service.

Bibliography
Martin, M. (2016). How to Create an Effective Marketing Plan. Marketing Plan Kellogg's cornflakes (Online) Retrieved From: https://www.businessnewsdaily.com/4-creating-effective-business-marketing-plan.html Retrieval Date: 12th01/17.

The trademark of Kellogg's Company. (2016). Kellogg's* Corn Flakes* cereal. Marketing Plan Kellogg's cornflakes (Online) Retrieved From: https://www.kelloggs.ca/en_CA/kellogg-s-corn-flakes-cereal-product.html?gclid=Cj0KEQiAzNfDBRD2xKrO4pSnnOkBEiQAbzzeQa9SHpE2v12Ko7S7WTLnrezVJrB1EB-I9t5x8YJRwHQaAur38P8HAQ Retrieval date: 12th01/17.

Nawabzade. (2014). Full Project on SWOT Analysis of FMCG Industries. Marketing Plan Kellogg's cornflakes (Online) Retrieved From: https://nawabzade.com/full-project-on-swot-analysis-of-fmcg-industries/ Retrieval date: 12th01/17.

Bradley, S. (2012). How Businesses Selling a Consumable Consumer Product Can Easily Increase Their Sales Using Twitter Search. Marketing Plan Kellogg's cornflakes Online) Retrieved From https://brilliantbusinessadvice.com/how-businesses-selling-a-consumabl-consumer-product-can-easily-increase-their-sales-using-twitter-search/ Retrieval date: 12th01/17.

Lauren, L. (2017). What Is Positioning in a Marketing Plan? Marketing Plan Kellogg's cornflakes (Online) Retrieved From: https://smallbusiness.chron.com/positioning-marketing-plan-22983.html Retrieval date: 12th01/17.

Lombardo, J. Positioning and Differentiation in Consumer Marketing. Marketing Plan Kellogg's cornflakes (Online) Retrieved From: https://study.com/academy/lesson/positioning-and-differentiation-in-consumer-marketing.html Retrieval date: 12th01/17.


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Kellogg's Cornflakes Marketing Plan Assignment


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