All rights reserved. This category plays a significant part in terms of tourism. Normally, these people have a diverse range of tastes as they come from different backgrounds. In Germany, nearlyhalf of cereal consumers prefer cereals made with natural ingredients. The breakfast cereal market is anticipated to be worth US$ 65.1 Bn by 2032, growing at a CAGR of 4.4%. For distribution purposes, advertisements are usually used for consumption goods, Nutri Mix falling in this category. The marketing mix consists of the actual product that will be sold to the customer, the price at which the product will be sold, the place where the product will become accessible to the customer and the promotional efforts that will be undertaken to sell the product. Regular Discounts and Offers ? Retrieved July 15, 2009, from: http://www.abs.gov.au/Ausstats/[emailprotected]/7d12b0f6763c78caca257061001cc588/31bd15113714d0fcca256e9e00295194!OpenDocument Australian Government Intergenerational Report (IGR). 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). (PESTEL analysis). Therefore, the packaging and availability have to be handy and accessible. Have a tie-up with grocery stores in various cities so that your company is their first choice to pick up cereals from. ready to eat cereals but over the period of time it ventured out to the products beyond breakfast. Growing Demand for Gluten-free Breakfast Cereal in the U.S. Will Fuel Growth. Growing preference for gluten-free and organic breakfast cereals in the U.S. is expected to augment the growth in the market over the forecast period. For instance, Kelloggs, one of the largest breakfast cereal producer worldwide, encouraged its consumers to eat its products on the occasion of getting up. A product can be a personal care item; going further into the category it can either be a hair care item or a skincare item there can be numerous levels of classification. Demographic segmentation refers to the process of dividing the market into groups based on variables such as age, gender, income, occupation, education, religion, race, nationality, family size, etc. Recent developments include: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. Marketing objectives The marketing objectives for 'Nutri Mix' refer to product awareness, target market and market share. Summary of market position OMG Active Cereal is a new breakfast cereal which is based on rice bran. The objective seeks to maximize the quantity of products/services sold or the number of customers in order to reduce costs in the long-term as predicted by the learning curve, also known as the experience curve. If a product is priced too low, profits can be compromised and the product can be perceived as invaluable. Huskys business is located a few miles out of the Southwest tourist district, where the facility is located. 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. "Breakfast cereal marketing plan" Essays and Research Papers. Nutri Mix will be developed as a range of healthy products, including: (a) simple muesli cereals, dried fruit muesli cereals, nuts muesli cereals (such as Brookfarm Natural Macadamia Muesli nuts content); (b) simple muesli bars, dried fruit muesli bars, nuts muesli bars (such as the Carmans range of breakfast cereal bars range); (c) wheat biscuits (such as Weet-Bix and Weet-Bix for kids); (d) puffed rice cereals (such as Abundant Earth Organic Puffed Rice); (e) puffed corn cereals (such as Abundant Earth Organic Puffed Corn); and (f) instant oat meals with various flavours. 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. Occasions can be used to group consumers into different segments. Of these, the main ones would be the quality of the product and promotion. Market Analysis - Marketing Strategy of Kellogg's The market and product in which Kellogg's deals are overcrowded with a large number of players. December 8, 2022. https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. Breakfast Cereal Market Estimated Size (2022), Let us know your requirement to get 100% FREE customization. However, in the beginning this variable will not be considered relevant for the market segmentation. requirements? Just talk to our smart assistant Amy and she'll connect you with the best 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. The pricing strategy will be a skimming one to enable the company to recover partially or totally its sunk costs. With these efforts, Huskys cereal will no doubt be a market leader and achieve its marketing objectives within the specified time. (Philip Kotler, 2008). The breakfast cereal market is expected to register a 4.4% CAGR between 2022 and 2032. . Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 11.2. The reason for this choice is because the cereal is a simple product with a relatively long shelf life and since the factory is located nearby and there are well enough road networks connecting the market to the factory site, road transport seems to be the ideal choice. om (a)). Marketing Strategy for Huskys Breakfast Cereal. Target profit pricing involves setting a target level of profit first and then pricing the product accordingly to achieve the target. Thus, the promotional campaigns will target female adults fitting the mother profile, seniors and nutrition consultants. The children segment is chosen due to the parents increased concern regarding child obesity in Australia, whereas the senior segment is chosen due the governments increased concern for growing health care expenses generated by an aging population and a shrinking taxation base generated by a slow down in natality rates. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.10.3. 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. Retrieved from https://graduateway.com/marketing-strategies-breakfast-cereals-in-australia/, Marketing of Australia by its Destination Marketing Organisation (DMO), Tourism Australia Analysis, International Marketing: Entry and Marketing Mix Strategies Analysis, Persuasive Essay on Why You Should Eat Breakfast. Supply Side Participants and their Roles, 3.5.1.2. With just a section on the packaging dedicated to tourism like a history section on each box would work well with tourists, explaining about a certain landmark or recommending a tourist spot. Price definitely plays a part and will be the basis of the competition. Nutri Mix will have a high content of fibre, low saturated fat content even when the recipe contains nuts, relatively low sugar and low salt. Domestic tourists can be from the working class as well. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. 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. Advertisements are strongly related to advertising. This would work well with the rural locals as well as it would offer a sense of familiarity and accessibility. Please be sure to check your SPAM/JUNK folder too. Each media type has its advantages and disadvantages and marketers should be aware of those when designing their marketing campaigns. Incorporated in 1906 by W.K Kellogg, Kellogg's initially started the business with breakfast cereals i.e. While meeting customer demand is rule No. Need a custom essay sample written specially to meet your Breakfast cereal brands are investing in improving their product portfolios to increase the nutrient quality and lowering sugar content. assume youre on board with our, The Impact of Sport in Australian Peoples Lives Today, https://graduateway.com/marketing-strategies-breakfast-cereals-in-australia/. The category includes items such as cornflakes,bars, biscuits andcookies, and others. Personality type segmentation can be useful at a later point in time for designing targeted promotional activities. Survival. The U.S., Canada, Brazil, Mexico, Germany, the U.K., France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa. report, Marketing Strategies Breakfast Cereals in Australia. What will be your strategy to make top customers shift towards your brand? com (2009), integrated marketing communication (IMC) is a management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation. Adopt efficient distribution channels to avoid stock outs and over shelving extremes. 1 for a successful business, predicting the demand is what brings brands to industry leadership. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.2.3. Greater format variety, such as cereal and milk duos, pots, squares, overnight oats, and snackable' miniatures, as well as category blurring efforts, such as drinkable oats, smoothie bowls, chocolate-covered treats, or popcorn muesli will create opportunities for growth in the breakfast cereal market. Current revenue maximization. Level Of Difficulty. 'The INR 7 billion breakfast cereal market in India had attracted several private players and FMCG giants like PepsiCo and Britannia with their respective brands like oats cereal under the brand names, 'Horlicks' and 'Britannia Healthy Start'. These include variety, quality, features, packaging, etc. The initial research was focused on six local macro-environment factors that could potentially impact the product. Your personal details are safe with us. Price Point Assessment by Product Type, 3.7. The cereal is expected to contain an adequate supply of proteins, carbohydrates, energy, minerals and vitamins per bowl Health-Break . (2022) 'Marketing Strategy for Huskys Breakfast Cereal'. Agent. What is the anticipated market value of the breakfast cereal market by 2032 end? The brand name is another element on which Huskys will promote the cereal. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis, 2017-2021, 4.2. Promotion This strategy refers to the advertisement, the promotions used to attract customers, the direct sales, the overall sales activity, the public relations and media. However, most of the products in this category are not very healthy. Few of the key players in the market are Kellogg Company, Marico Ltd., B&G Foods Inc., Bagrrys India Ltd., General Mills Inc., Nestle S.A., Pepsico Inc., Bobs Red Mill Inc., Weetabix Ltd, Erewhon, Post Holding Inc., MOM Brands Company and others. If you continue, we will assume that you agree to our. Huskys would need to gain an edge by offering the tourist market a local taste with energy and excitement, and offer the local market good value and nutrition at an affordable price (Philip Kotler, 2008). 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. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.3.3. Whole grain was the leadingclaim among last year's global breakfastcereal launches, accounting for 38%, followed by high fiber (30%). High Demand for Fortified Cereals in Germany Will Boost Sales. The availability of a wide range of high fiber and protein breakfast cereals such as Clusters & Seeds Cereal,Kellogg's Special K Protein Nuts and One Day More Protein Muesli in Germany will push sales in the market. However, this will be discussed further in the promotions section of the 4Ps. Nutri Mix will be positioned as a medium priced product, just like other healthy breakfast cereal products on the market, such as Weet-Bix from Sanitarium Health Food Company. 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). Retrieved from https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/, BusinessEssay. Cereal marketing is the promotional strategy used by cereal companies to sell their products to consumers. Absolute $ Opportunity Analysis By Sales Channel, 2022-2032, 8. Promotion needs to be intense to penetrate the market and create immense brand recognition and equity. Market Attractiveness Analysis By Region, 9. Example of pricing decisions include: pricing strategy (e. g. skimming), bundling, price discrimination, price flexibility, cash discounts, early payment discounts, suggested retail price, seasonal pricing, volume discounts and wholesales pricing (NetMba. Today its product portfolio includes convenience foods such as snacks, biscuits, waffles, pastries cookies and crackers. T: +1-845-579-5705, Future Market Insights is registered in the state of Delaware as Future Market Insights, Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, United States, A MARKET ACCESS DMCC Initiative - Dubai, United Arab Emirates. (Philip Kotler, 2008). 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. In this case, the benefits are related to the health and well being of the consumer. A tourist would want things quickly, conveniently and on the go. Marketing Strategies - Breakfast Cereals in Australia. Between 1985 and 1995 the child obesity grey almost 50% in both genders (Parliament of Australia, 2006). Huskys would adopt value-based pricing as well. Many cereals come in colorful, eye-catching packaging that is designed to stand out on store shelves. (2017, Mar 04). Get original paper in 3 hours and nail the task. They vary in almost all segmentation variables, from age to lifestyle and attitude. Value-based pricing bases the prices on the value provided to the customer. They tend to be from the same cultural background and have similar tastes. (2004). BusinessEssay. But there are other significant factors as well. The material used for packaging will be mostly paper as it might be an optimal solution from the environment point of view for both the package per se and information about nutritional content. BusinessEssay. Advertisement. In 2019, the revenue for breakfast cereals in the U.S. was $15.6 million, and steady growth is projected for the cereal market. Certifications and Certifying Agency Overview, 3.13. Psychographic segmentation refers to the process of dividing the market into groups based on variables such as social class, lifestyle or personality type. IMC is an integrated marketing communication and involves several modes of promotion and integrating them to create an effective communication plan to sell and promote a product. The customer needs to have easy access to the product due to intense competition. submit it as your own as it will be considered plagiarism. Kellogg became the first brand in the GCC region to pioneer WebAR technology across a multi-channel marketing campaign for its Coco Pops cereal brand. Marketing objectives The marketing objectives for Nutri Mix refer to product awareness, target market and market share. com (a)). This can be done through supply chain integration and maintaining communication links with the retailers and hotels/resorts. Yet, Kellogg's was the market leader with around 60% market share in the breakfast cereal market. Why is the Consumption of Breakfast Cereal Increasing in Germany? 8 December. The breakfast cereal market is anticipated to reach a valuation of US$ 65.1 Bn by 2032 end. (2009). It was my honor to be able to interview Lin Lin Ku and to obtain a clear picture of Taiwanese breakfast cereal industry. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. 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. The cereal is targeted towards the South West tourist region. On the basis of nature, sales of organic breakfast cereal are anticipated to increase over the forecast period. Absolute $ Opportunity Analysis By Nature, 2022-2032, 6. "Marketing Strategy for Huskys Breakfast Cereal." The initial research was focused on six local macro-environment factors that could potentially impact the product. In addition to this, expansion in the packaged food sector in the U.S., along with wide availability of breakfast cereals at online retail channels will continue fueling sales in the market. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 10. Breakfast cereals with a high fiber content are gaining traction. Also, the company will consider the environmental implications and design a package that is easily recyclable, but in the same time it properly preserves the content, the feature of environmentally-friendly being almost a mandatory requisite in a country in which 62% of adults (8. For the locals, the cereal needs to be affordable, convenient, healthy and tasty. Some cereals also have unique shapes or . This will ensure a good market share that Huskys can improve upon. Email marketing can include newsletters, updates on the company, or promotions of sales and discounts for subscribers. Consumers are more likely to buy organic products if they believe they are healthier. 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. Price This strategy refers to the approach that the management will have vis-a-vis prices, discounts or financing. Product classification is a way to categorize a product in the vast variety of product categories available in the product market. In this case, the product is Huskys breakfast cereal. Out of the three psychographic variables, a social class would be the most significant in this case. A promotion strategy may include advertising; a nonpersonal form of paid communication through mass media, public relations; which involved developing links and relations with the organization and public to sell products and create brand awareness, sales promotion; used to generate sales in the short term through promotions like coupons, personal selling; one-to-one selling of a product and direct mail; mailing manually or electronically to promote a product gibing information and highlighting benefits. 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. 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. December 8, 2022. https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. 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). 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. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Nature, 5.2. Current profit maximization. It has to be attractive and communicative in order to sell something that is inside and can not be tasted and tried. 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. Supplemental understanding of the topic including revealing main issues described in the particular theme; The most relevant in this case is road transport. The promotional activity will focus on advertising, sales promotions and some PR in the initial phase. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 12.2. Current and Future Market Size Value (US$ Bn) & Volume (MT) Analysis and Forecast By Nature, 2022-2032, 5.4. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region, 8.2. Forecast Factors - Relevance & Impact, 3.9.2. Therefore, the pricing must be suitable for those segments. The product is intended to attract the tourist demographic of ages 15 to 64 in the South West region and another version that is intended for the rural locals. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.7.3. 2022. EMBA Pro Marketing Strategy Approach for Ready-to-Eat Breakfast Cereal Industry: Quaker Oats . Several factors would come into play here as the target market is the tourist market, but one of the main variables would be Nationality. Nature, Sales Channel, Product Type, and Region, Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives. Current and Future Market Size Value (US$ Bn) & Volume (MT) Projections, 2022-2032, 5. Place This strategy refers to the establishments location, the logistics, market coverage and infrastructure endowments (e. g. internet). It also touches upon business topics such as - Marketing Mix, Product, Price, Place, Promotion, 4P, Competition, Pricing. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 17.3. Product positioning is referred to as the position or status a product has in the minds of the customers, compared to the competitors products. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 13. Current Market Size Value (US$ Bn) & Volume (MT) Analysis and Forecast By Region, 2022-2032, 8.4. The breakfast cereal market will reach nearly US$ 42.3 Bn by 2022. Demand for breakfast cereal in North America is anticipated to drive the demand during the forecast period of 2022 to 2032. The target market refers to the senior consumers and children. cite it correctly. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 15.2. Better Essays .