The product under consideration is Huskys breakfast cereal. The category includes items such as cornflakes,bars, biscuits andcookies, and others. Retailers are companies that sell directly to the consumers and can range from large businesses such as Wal-Mart to small businesses such as non-chain locations managed independently, like a family bookstore. Maximize quantity. This variable consists of factors such as the product quality, service, economy provided, convenience and speed. It is made from 100% wholegrain rice imported from China DongBei where produces the top rice in the world. It implies selling the products/services by dealing directly with the customers, rather than use intermediaries. However, in the beginning this variable will not be considered relevant for the market segmentation. Have a tie-up with grocery stores in various cities so that your company is their first choice to pick up cereals from. It is responsible for selling the product. The brand name is another element on which Huskys will promote the cereal. Recently more methods have been developed including telemarketing, online shopping or radio selling. the aim of the present study was to assess changes in the prevalence of marketing strategies targeting children in breakfast cereal packages before and after the chilean regulation, using a repeated cross-sectional design, with one sample of chilean breakfast cereal packages taken before the 2016 implementation and one sample of cereals taken Domestic tourists can be from the working class as well. What is the anticipated market value of the breakfast cereal market by 2032 end? Retailers, wholesalers, resorts, and hotels will be the main outlets for the cereal and will serve as the place where customers will have access to Huskys cereal. Huskys will be competing with other cereal brands on a combination of price and non-price factors. Sort By: Satisfactory Essays. By making customers loyal to the brand, Huskys would ensure that the products will be bought and the customers will exhibit dedication towards the cereal. ? In the marketing mix that Huskys needs to adopt, the product has to be of good quality and nutritious as well as attractive and accessible. Targeting a specific market gives the company the ability to compete better on a very mature market (that of breakfast cereals), while setting the market share goals to 5% within the first 6 months, should tell the manufacturer if the products are viable or not for this type of market. Cereal manufacturers are launching new flavors and textures, embracing non-traditional raw ingredients, and increasing their engagement in ethical andsustainable practices. It is also the company that sells to the retailers. One other behavioural variable refers to the products benefits. Email marketing is a strategy used to promote a product or service through email while developing relationships with customers. The product needs to provide good value for money and be of good quality since international tourists can be judgmental of a countrys characteristics based on their product quality. The target market refers to the senior consumers and children. The product is available wherever breakfast is served, that is at restaurants, tourist resorts and hotels as well. February 20, 2020 There's no denying Americans love their cereals, and it shows. The tourist population would normally consist of people from the middle class and above, that is because most of the people going on vacations need to afford travel expenses, etc. However, given that one of the main age segments targeted by the breakfast cereal refers to children, the products specifications, package and promotional activity should focus on the female segment as they hold the buying decision. Place strategy refers to the activity of developing an efficient and effective way of storing and handling goods and products, distributing them, and getting them to the customers in the market. Breakfast cereal sales are likely to account for 48% of the global cereals market, with the total market size reaching US$ 65.1 Bn by 2032. The report comprehensively analyses major players in the global breakfast cereal market, assesses their capacity, and monitors latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions; key players in the market include: Nestl Group Kellogg's Company Bob's Red Mill Natural Foods General Mills, Inc. Current revenue maximization. Agents usually sell on behalf of the producer and work on commission. Retailer. Out of the many variables, the benefit would be the most considerable. This is because the budget is based on the IMC objectives and takes into consideration all concerned marketing variables. (2004). Direct selling. Quality leadership. About.com, retrieved July 15, 2009, from: http://marketing.about.com/od/marketingglossary/g/imcdef.htm Australian Bureau of Statistics. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.4.3. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 9.2. 1 for a successful business, predicting the demand is what brings brands to industry leadership. Since it is targeted towards two different segments, one being a niche market, the objectives will be clear and specific (Philip Kotler, 2008). All rights reserved. With the macro-environmental factors and demographic variables analyzed, the next step would be to identify and elaborate on the marketing objectives for Huskys new cereal. December 8, 2022. https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. To market a healthy and nutritious cereal product that customers of all kinds can enjoy together without the health risk and provide the energy needed at the start of the day. To gain customers buying share and the overall market share, Huskys needs to position its cereal among the customers through promotional efforts, product quality, and straight out product awareness (Marketing- Buyer behavior). Your personal details are safe with us. Marketing Strategy for Huskys Breakfast Cereal. The initial research was focused on six local macro-environment factors that could potentially impact the product. The breakfast cereal product will be launched in Western Australia, more specifically Queensland, third state in the country as size of the population with 4,35 million inhabitants (Queensland Government, 2009). In this case, the product is Huskys breakfast cereal. Thus, the uffed rice and corn cereals, which are mostly for children will have a package displaying a licensed character or a movie theme and containing either a cartoon drawing (e. g. Tony the tiger) and/or an activity or promotion directed to children (e. g. collect stickers). It will not irritate customers with unwanted advertisements and promotions and let the customer opt-in to receive and look at advertisements (Philip Kotler, 2008). Value-added pricing will be used as well as part of special promotional endeavors in collaboration with other products in the future, as a free cereal bowl with a cereal pack. For the local cereal product, a toned-down version of good value pricing will be used; low profile packaging and smaller contents at a lower price. Salt has been linked to high blood pressure, which can lead to heart diseases and stroke. The results of a consumer survey study indicated that consumers had a negative perception towards network marketing, while holding a low positive view of direct selling (Kustin & Jones, 1995). Why is the Consumption of Breakfast Cereal Increasing in Germany? This will be done through advertising and public relations, promoting tourism, and providing a unique market offering. Which are the positive and negative factors impacting the Breakfast Cereal Market. The tourist market would differ behaviorally just as much as they would culturally or demographically. Increasing food retail facilities, as well as rising awareness about the health benefits of eating grain-based breakfasts will boost sales in the forthcoming years. Huskys needs to do this by creating an attractive market offering based on the marketing mix to attract more customers. (2017, Mar 04). Get original paper in 3 hours and nail the task. The breakfast cereal product will be launched in Western Australia, more specifically Queensland, third state in the country as size of the population with 4,35 million inhabitants (Queensland Government, 2009). The most relevant in this case is road transport. Of these, the main ones would be the quality of the product and promotion. Absolute $ Opportunity Analysis By Sales Channel, 2022-2032, 8. It is an important concept because a product that is not accessible by the customer is useless. East Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 12.1. Therefore the pricing strategy makes sure that the product is priced correctly and according to the products life cycle stage which changes the pricing strategy. To make CRUNCHIN'S cereal the most widely used breakfast cereals at hotels and tourist resorts globally in the next 5 years. For distribution purposes, advertisements are usually used for consumption goods, Nutri Mix falling in this category. This objective seeks to maximize current profit taking into account revenues and costs. Road transport is the simplest one in which a logistics department or firm transports the goods to distributors, wholesalers and retailers. Generally, penetration pricing is used when entering a new market or attempting to increase a relatively small market share. Upon trying out the product, Huskys job is to make sure that the customer likes and enjoys the taste, quality and value in order to make them switch over to the new product. The PR will focus on the health benefits of consuming Nutri Mix and the environment aspects. North America held dominant position in the global breakfast cereals market in 2020, accounting for 31.99% share in terms of value, followed by RoW and Europe, respectively. The pricing strategy has to be planned carefully because it is the one that supports the cost structure. That is a factor Huskys would capitalize on (Philip Kotler, 2008). writing your own paper, but remember to Promotion-related decisions refer to: promotional strategy (e. g. push or pull), advertising, sales promotions, sales force & personal selling, PR & publicity and marketing communications budget (NetMba. Personal selling includes presentations made by the companys sales force in order to build relationships and increase sales. Marketing objectives The marketing objectives for Nutri Mix refer to product awareness, target market and market share. 2022. You will receive an email from our Business Development Manager. The other is value-added pricing in which a higher price is charged but value-adding features are attached to the product. Just talk to our smart assistant Amy and she'll connect you with the best It also touches upon business topics such as - Marketing Mix, Product, Price, Place, Promotion, 4P, Competition, Pricing. The initial research was focused on six local macro . This is usually a short-term strategy. Market Definition / Scope / Limitations, 3.3. Value-based pricing bases the prices on the value provided to the customer. South Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 13.1. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 10. Breakfast cereals, often known as cereals, are grains such as quinoa, cornflakes, and oats. Our experts can deliver a custom Marketing Strategy for Husky's Breakfast Cereal paper for only $13.00 $11/page Learn More 322 specialists online The main marketing objective for Husky's cereal is to gain the highest market share relative to other competitor cereal brands, within six months of the launch. There are can several distribution channels as well. Research done by marketing guru Martin Lindstrom shows that smell and sound play a huge role in a customers attachment towards a product. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.12.3. Many cereals come in colorful, eye-catching packaging that is designed to stand out on store shelves. Supply Side Participants and their Roles, 3.5.1.2. Geographic segmentation consists of dividing customers into groups based on variables such as region of the country to or rural/urban area in which they are located. In the 1990s, direct selling was increasing a lot in Australia as was all over the world. ? Huskys cereal has an attractive and promising target market with the South West tourist region and the local rural market taking into account the segmentation variables, Huskys needs to adopt a suitable marketing mix and IMC strategy to achieve its marketing objectives. The whole point is to get the product to the customer as efficiently as possible to incur minimum costs and earning a higher profit by selling the product to the customer. Email marketing can include newsletters, updates on the company, or promotions of sales and discounts for subscribers. Target market. Personality type segmentation can be useful at a later point in time for designing targeted promotional activities. The company is aiming to increase product awareness through intensive targeted promotional campaigns over a period of 6 months. Claims such as no-preservatives orartificial ingredientsin new breakfastcereal launches have increased by approximately 16% in Europe over the last five years. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis By Nature, 2017-2021, 5.3. Product differentiation will be considered a strategic competitive advantage for Healthy Co. Pty Ltd as the Australian market if a mature one in terms of general breakfast cereals, but not on the healthy products niche. Furthermore, growing consumer awareness of the ready-to-eatcereal category's convenient, quick, and low-cost meal options is driving growth in the market. submit it as your own as it will be considered plagiarism. Marketing objectives The marketing objectives for 'Nutri Mix' refer to product awareness, target market and market share. The rest of the products will adopt packages matching with the children and cereal bar styles, but in weaker shades. According to American Marketing Association (AMA) - Marketing is a set of activities that an organization (both for profit & non-profit) undertakes to create, communicate, deliver, & exchange products & services that have value for the - customers, supply chain partners, clients, other stakeholders, and society at large. The tourists would appreciate a taste of the local heritage and food culture based on the idea of a vacation which is to experience something new and at the same time taste well and be nutritious. (2022, December 8). com (b), pricing objectives can be categorized as: ? Tourists are looking for ways to learn about the local culture and geography. Current profit maximization. Agent. ? Survival. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. December 8, 2022. https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. The logic behind using age as a segmentation variable is the fact the consumer needs and wants change as they grow older and marketers need to design products, packages and promotions to meet these needs and wants. BusinessEssay. Advertisements are the adds that support the advertising activity and they are created to increase consumption of the a given product/service or reinforce brand image or brand loyalty. As far as IMC budgeting is concerned, Huskys will adopt a Task Method approach. This is an objective that might have interest for an organization that has other revenue sources. us: [emailprotected]. Wide availability of other breakfast options such as yogurts, breakfast biscuits, snack bars, smoothies, and baked goods is a key factor which is driving innovations in the breakfast cereal market. om, 2009). Retrieved from: http://www.aph.gov.au/library/INTGUIDE/sp/obesity.htm Queensland Government. The product for them would be packaged and priced accordingly (Philip Kotler, 2008). Regular Discounts and Offers Nestle SA is a Swiss multinational food and beverage conglomerate operating its business in India under the name of Nestle India. Over a period of 6 months by marketing guru Martin Lindstrom shows that and! Aiming to increase product awareness through intensive targeted promotional campaigns over a period of months. 1 for a successful business, predicting the demand is what brings brands to industry leadership consideration concerned. Market segmentation, bars, biscuits andcookies, and oats to stand out store. 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