breakfast cereal marketing strategybreakfast cereal marketing strategy

breakfast cereal marketing strategybreakfast cereal marketing strategy

High Demand for Fortified Cereals in Germany Will Boost Sales. Email. Dont Overweight and Obesity in Australia. 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. Prices can be increased in the long run. 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 PR will focus on the health benefits of consuming Nutri Mix and the environment aspects. 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. The company also wishes to reach a market share of 5% from the breakfast cereal segment within the first 6 months of launching the product on the Australian market. ? Price definitely plays a part and will be the basis of the competition. Target profit pricing involves setting a target level of profit first and then pricing the product accordingly to achieve the target. A pull strategy lets the customer pull information at will and based on their requirements and convenience. The factors in favour of marketing such a product on the Australian market reside in an aging population as proportion of total population, forcing the government to focus on nutrition as a means to slow down health care expenses (IGR, 2004); the local market being a stable and developed one; the countrys technological development enabling advanced marketing and logistics techniques; and an increased concern for 21st century nutrition trends, pointing to an alarming growth rate of child obesity. 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. Of these, the main ones would be the quality of the product and promotion. ? Sales promotion refers to short-term incentives to boost the sales of a given product/service. A products category is usually decided by identifying and considering its use and characteristics, relative to products available in the market and how they are categorized. Because of innovative technology and marketing, Europe is also a prominent market for breakfast cereals. However, this will be discussed further in the promotions section of the 4Ps. Which region is expected to drive the demand for the breakfast cereal market? Y-o-Y Growth Trend Analysis By Product Type, 2017-2021, 6.5. assume youre on board with our, The Impact of Sport in Australian Peoples Lives Today, https://graduateway.com/marketing-strategies-breakfast-cereals-in-australia/. For the tourists, it needs to be of good quality, priced economically but higher compared to the local version, and marketed effectively to attract customers through advertising and promotion. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 10.1. A push strategy is when the information and promotion are pushed onto the customer regardless of whether the customer requires it or not. These include variety, quality, features, packaging, etc. This method is adopted by several other competitors like Kelloggs different cereal lines. Between 1985 and 1995 the child obesity grey almost 50% in both genders (Parliament of Australia, 2006). Historical Market Size Value (US$ Bn) & Volume (MT) Analysis By Region, 2017-2021, 8.3. Traditional methods include telephone selling, mail order or door-to-door selling. 16261 Words ; 66 Pages; Powerful Essays . Have Tie-ups with Grocery Shops For a cereal company, the targeted audience will be found in all the grocery stores. BusinessEssay. People from different regions have different tastes. (PESTEL analysis). requirements? The product under consideration is Huskys breakfast cereal. This will be done through advertising and public relations, promoting tourism, and providing a unique market offering. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis, 2017-2021, 4.2. Special deals and promotions can be developed to partner with local tourist resorts and hotels that generate mutual benefit. 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. 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. 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. Need a custom essay sample written specially to meet your Level Of Difficulty. The same CHOICE study mentioned previously identified 4 dimensions that Healthy Co. Pty Ltd should consider for Nutri Mix: dietary fibre, saturated fat, sugars and salt. Consumption of breakfast cereal bars and biscuits is being driven by growing demand for on-the-go meal options. If you continue, we will assume that you agree to our. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.7.3. South Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 13.1. 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 product awareness will be increased via multiple channels, both with above the line and below the line sales promotions. In Germany, nearlyhalf of cereal consumers prefer cereals made with natural ingredients. 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 main goal of IMC is to build brand equity, product awareness and gain the customers attention and buying a share. 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. 8 December. Finally, direct marketing handles direct communications with targeted individuals with the purposes of obtaining a direct response and building strong relationships. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 11. For Huskys, retailers play an important role because that is the main place where customers purchase cereals. submit it as your own as it will be considered plagiarism. The cereal is targeted towards the South West tourist region. Yet, Kellogg's was the market leader with around 60% market share in the breakfast cereal market. Quality leadership. Skimming prices strategy involves adopting a relatively high price for a product at first and a lowering of the same price over time, thus allowing the company to recover its sunk costs faster (Wikipedia, 2009). Marketing Strategy for Huskys Breakfast Cereal. At the time of introduction, a market penetration strategy will be used instead of skimming because the objective is to gain market share and perform mass promotion. 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. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 10.2. The tourist market would differ behaviorally just as much as they would culturally or demographically. to help you write a unique paper. ? ready to eat cereals but over the period of time it ventured out to the products beyond breakfast. Product positioning is referred to as the position or status a product has in the minds of the customers, compared to the competitors products. Adopt efficient distribution channels to avoid stock-outs and over-shelving extremes. Sort By: Satisfactory Essays. Maximize quantity. 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. This variable consists of factors such as the product quality, service, economy provided, convenience and speed. 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. The global breakfast cereals market size was valued at $90.9 billion in 2020, and is projected to reach $180.3 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. (Philip Kotler, 2008). (2009). A unified Market Research Subscription Platform, built for today's disparate research needs. Which are the positive and negative factors impacting the Breakfast Cereal Market. A product can be a personal care item; going further into the category it can either be a hair care item or a skincare item there can be numerous levels of classification. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 12.2. The breakfast cereal market is anticipated to be worth US$ 65.1 Bn by 2032, growing at a CAGR of 4.4%. Thus, sugar can contribute to tooth decay and has a major contribution in gaining weight. The breakfast cereal market is anticipated to reach a valuation of US$ 65.1 Bn by 2032 end. Consumers are Preferring Organic Breakfast Cereals. Research done by marketing guru Martin Lindstrom shows that smell and sound play a huge role in a customers attachment towards a product. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 15. It is made from 100% wholegrain rice imported from China DongBei where produces the top rice in the world. Email marketing can include newsletters, updates on the company, or promotions of sales and discounts for subscribers. Better Essays . 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. Value-based pricing bases the prices on the value provided to the customer. 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. 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). . Packages will be coded for food-related claims, including here the food authorities and other contributors, such as the national heart associations. This is usually a short-term strategy. Supply Side Participants and their Roles, 3.5.1.2. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. Brand recognition is one of the objectives as Husky wants to gain market share. In 2019, the revenue for breakfast cereals in the U.S. was $15.6 million, and steady growth is projected for the cereal market. Establish yourself as one of the healthiest cereals on the market. The company is aiming to increase product awareness through intensive targeted promotional campaigns over a period of 6 months. Place This strategy refers to the establishments location, the logistics, market coverage and infrastructure endowments (e. g. internet). (2009). Portfolio 17.3.1.4. Business Strategy 17.3.1.5. We use cookies to give you the best experience possible. Therefore, it is the entire buying and using experience that creates brand recognition. (2022, December 8). The healthy breakfast cereal product will focus more on children 3 to 12 years old and senior adults above 65 years old. If a product is priced too low, profits can be compromised and the product can be perceived as invaluable. For the locals, the cereal needs to be affordable, convenient, healthy and tasty. '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'. It is a step-by-step process that is based on research of the market and its opportunities, and then the next steps that follow include setting objectives, tasks to achieve those objectives, and the costs associated with those tasks and activities. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.11.3. 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. Product launches & Recent Developments, 3.5.1. Survival. Value-based pricing consists of two types; good value pricing that offers the right combination of quality at a fair price. These objectives are mainly market share, brand awareness, health and nutrition and an efficient low-cost distribution channel. 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. com (a)). Huskys would adopt a combination of both with more emphasis on the pull. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 13.2. Breakfast cereals with a high fiber content are gaining traction. This category plays a significant part in terms of tourism. Healthy Co. Pty Ltd is a food processing organisation located in Queensland, Australia. Marketing Strategy for Huskys Breakfast Cereal. Entering at a moderate/low price with a good promotion will result in customers switching over or trying the new hyped-up product. Trucks from a third party or huskys own logistics service would transport the product to wholesalers and retailers. 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. 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. The distribution will be done via at least one distributor and one large retailer in the beginning with the possibility to extend to small shops in a future stage. Agents usually sell on behalf of the producer and work on commission. Since then, from selling its first milk product in the 1960s to offering a wide range of quality products in the Indian market, Nestle has grown exponentially in India. Rising interest in breakfast cereals is compelling manufacturers to launch new and healthier alternatives without compromising the taste. Each media type has its advantages and disadvantages and marketers should be aware of those when designing their marketing campaigns. This variable is widely used in consumer marketing, mostly in clothing, cosmetics or toiletries. Nutri Mix is a product designed for the middle class in Australia and with a healthy life style (individuals that practice outdoor activities, individuals that spend a lot of energy and individuals looking to improve the state of their health). 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