Market research for entry of kellogs
Kelloggs pricing strategy
After the launch with effective advertising, the company saw rise in the sales but that was just the curiosity of the Indian consumer to buy a new product. Whether or not the organisation has set its target market and positioning carefully will determine if its marketing mix strategy, including price, will be straightforward or not. Innovators would be the main type of consumers at the beginning. Harrell, G. They believe that the company with the largest market share will enjoy the lowest costs and highest long-run profit. Target marketing follows on from the initial segmentation decision. John Kellogg gave up and decided he wanted out on the new discovery and left it up to his brother. Internet Marketing. 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. This was a good idea for the business as it does not have to spend money on new machinery or equipment for production.
One of the most powerful tools that organisations use is branding. Kellogg on Marketing.
Contemporary Marketing Plus. Principles of Marketing. A brand is a name, design, symbol or major feature that helps to identify one or more products from a business or organisation. The introduction of ready to eat breakfast items from Manufacturers like Haldirams and Gits pose a huge threat to Kellogg. The Times 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. Marketing Connecting with Customers, 2nd Edition. A company will want to charge a price that will cover its costs for producing, distributing, and selling the product but also that will retrieve a fair rate of return for the effort that was put into producing it.
The Company is recommended to diversify their product portfolio. One day, after cooking some wheat, the men were called away. Companies are likely to return to a much shallower product line at this stage, focusing all their time and money on the products that generate adequate cash flows.
Lamb, Jr. The company has to decide if they want to use a direct distribution channel, where a company use their own employees and physical assets to serve the market, which is economically feasible for small markets, or if the company wants to use indirect distribution channels which are, as I have already mentioned, wholesalers, retailers, distributors and dealers, franchises and agents.
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.
The other variables include making the product, telling consumers about it, and making it available to them, all these other elements generate costs.
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