Hire Writer i Geographic segmentation Geographic segmentation will be analysing the different geographical such as region, city size, population density and climate.
Will Kellogg started his business ventures by selling brooms, before helping his brother, John Harvey Kellogg, run the Battle Creek Sanitarium. Now he is responsible for the W. Although William Keith Kellogg is the official founder of the cereal, it was his brother John who had first attempted to develop the first breakfast cereal.
John Kellogg failed to invent the cereal as the taste was not appealing and then that is when William stepped in and took over and with the addition of a simple ingredient, sugar, it became a huge success. John Harvey Kellogg worked at the hospital and health spa in Michigan, his brother William worked alongside him as the business manager.
The hospital Figure 2-John Harvey Kellogg stressed healthy living and kept its patients on a diet that eliminated caffeine, meat, alcohol, and tobacco. One day, after cooking some wheat, the men were called away. When they eventually returned, the wheat had become stale. They decided to force the tempered grain through the rollers regardless of its condition.
Surprisingly, the grain did not come out in long sheets of dough as it previously had done. Instead each wheat berry was flattened and came out as a thin flake. The brothers baked the flakes and were delighted with their new invention. They had discovered a new delicious cereal but they had no way of knowing they had accidently invented a whole new industry.
John Kellogg gave up and decided he wanted out on the new discovery and left it up to his brother.
Will Keith eventually opened his own cereal business, and its most famous products are still sold today. The company introduced a wide range of products such as: Foundation was founded in by William Kellogg.
It all began when his grandson, Kenneth Williamson, was involved in a tragic accident which left him paralysed. Initially, the Foundation was meant to assist handicapped children in securing better health, confidence and trust in the country and its institutions.
Now the principle of the foundation is for the promotion of the health, education and welfare of mankind, but principally for children and youth. Segmentation involves dividing the market of potential customers into homogenous groups.
These groups may be distinguished in terms of their behaviour, attitudes, demographic characteristics, age, gender, work status, social class etc. Target marketing follows on from the initial segmentation decision.
Market Segmentation Why segment?
These patterns can include the occasion when the buyer uses the product, timing of use etc. It may involve the development of different marketing mixes for different segments. Marketers hope that the buyer will perceive their product to be unique and that they will have a distinctive image of the product and its benefits.
Marketers try to find a distinct position and must compete for attention with other existing competitors. This value can be expressed in a number of ways including: The positioning strategies are: They are low priced, frequently purchased and can be found in most locations such as convenient stores and supermarkets.
Creating new products or adjusting and making changes to existing products can be expensive. It involves making investment decisions now with the hope that it will make a return later on. Market research helps to predict future events and effects.
Whether an organisation decides to develop the product, maintain it, allow it to decline or kill it off requires time and heavy decision making. New product development is extremely risky as most new products fail but it also important for organisations to have product-lines and also product mixes to continue a steady profit flow and to prevent their individual product to sink beneath the depths of the current market.
Its products are manufactured in 19 countries worldwide and sold in more than countries. This proved to be a huge success especially with the women. They examined the accomplishment of Special K cereal and expanded its product line by producing similar low fat, healthy snack bars and nibbles for women to enjoy on the go.
Advertising is an extremely expensive component of marketing a new product as you have to let your potential customers aware of this new product on the market.
A negative profit is usually the outcome as sales are low and expensive is high. Innovators would be the main type of consumers at the beginning. Although introduction is a highly expensive and rocky stage there are ways to assist your product through the unpleasant stage; I.For example with the Special K brand, Kellogg France introduced a new brand of red berries to the Special K cereal which sold well and presented an opportunity.
Market research in the UK proved to be receptive to this product and in October , Special K Red Berries was launched in the UK.
The socioeconomic status of an individual plays an important role in Kellogg marketing in Special K Protein Plus as this product line followed a premium pricing and the target market for this cereal is medium income women who work and can afford to spend money. After analysing the segmentation variables and positioning of Special K Protein.
Kellogg is market leader in the ready to eat cereals production. It has applied appropriate marketing and promotional strategies to achieve its leadership position. Kellogg is a company based in America and produces a range of brands. The brands of Kellogg mainly include Corn flakes, Special K, Pop – Tarts and Nutri –Grain.
(O’Shaughnessy, ) Kellogg’s with their intelligent research team did find out that the cereals were actually consumed by the entire family and also for health/diet conscious women so they launched a different variant of the cornflake known as ‘Special K’ under weight management.
SWOT Analysis of Kelloggs Special K with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis. However, our marketing team decided to suggest an improved marketing strategy for Kellogg’s Special K, to target a broader range of market segments to satisfy their needs and wants.
These market segments would consist of men, ages , teenage girls, ages , and children, ages