In general, the target market for our product are the people who are looking for a tasty and nutritional cereal that can fix their or others’ breakfasts (or other meals) in a way that’s simple, fast, nutritional, yet still tasty. And our top groups of people of the target markets are: students, moms, and businessmen and businesswomen. Our marketing efforts will focus on these groups of people: #1 Students Students, especially college students are a special group of people who are new to living independently; which means they don’t normally have a lot of living skills, such as cooking.
They are also usually on a busy schedule which might involve with getting up early in the mornings. All the factors about this group makes them our number one group of the target market. #2 Moms and housewives Moms and housewives are a group of people who are not only need to take care of their own life but also their families’. For most of them, especially housewives, get up early in the morning and prepare breakfast for the family is a part of their daily life. Our product not only is a quick-fixed breakfast cereal, but also can be a great snacks for everyone to enjoy.
In each country we will be competing with local companies who already know what the market needs there; therefore, we need to learn each countries’ culture and habits to enhance our product. The more we know about the markets which our product is in, the more we can improve our product and be more accepted in different markets and be more competitive. In our case, we are expanding in the US. We need to learn more about Americans’ lifestyle, interests, and eating habits. Also the local competitors that already exist in the market and future competitors. Besides all those, we also need to know about US laws and policies. Behaviors The target market normally shop weekly or monthly for their groceries, which our product is included in. For their first time buying, their decision process for buying out product would be impulsive.
The Essay on Describe how marketing techniques are used to market products in two organisations
Describe how marketing techniques are used to market products in two organisations In this task I will describe how marketing techniques are used to market products in two different organisations in this case NHS and Nike. NHS The NHS was found by Aneurin Bevan on the 5th of July 1948 when he opened the Park hospital in Manchester; his ambition was to break a high standard of healthcare to ...
They may be interested in our product due to the advertisement, the packing of the product, the nutrition value, etc. Once they taste our product after first time buying it, and go buy our product again, it will be most likely that they like our product, or our product satisfies their needs for this kind of product. Then our product will be on their shopping list. Target Market Needs Our target market needs are having an easy, fast, nutritional, and tasty breakfast or snack option for their busy life. SWOT Analysis Strengths Good taste, reasonable price, international market, nutritional, vegetarian suitable with certain kinds, various kinds, can also be a delicious dry snack, company has very rich experience on marketing…
Like we said before, our target itself can be a great source of advertisement. Besides our target it’s inner advertising, we still need to use outsources to let our target market know about our products and actually willing to try our product. First of all, we will need more advertisements on TV, Internet, magazines, billboards, and in-store advertisements. With all sources of promotion, our target market will have more chances knowing our product. Also on-line market can be a great way of selling, plus it can increase our market margin. Besides advertisements, we can also have coupons to hand out/ mail to our target market. With our coupons they can be more encouraged with purchasing our product. The Four P’s Product
Our product is Weetabix’s “mini’s cereal”, it’s a tasty and nutritional cereal that’s suitable for the majority of human population (except vegetarian, kosher, or other allergies affected population).
The Essay on Ansoff's Product Market Grid
The Ansoff product-market matrix helps to understand and assess marketing or business development strategy. Any business, or part of a business can choose which strategy to employ, or which mix of strategic options to use. This is one simple way of looking at strategic development options: Each of these strategic options holds different opportunities and downsides for different organizations, so ...
People would notice our product because of our package design or advertisement promotion when they are shopping for groceries in food stores or seeing our advertisements on TV or through other media. Customer can select our products base on their needs for nutrition and/or taste. Our product can be eaten with milk or just dry by itself, it will be tasty either way. Price Since we are in the early stage in the US market, it would be the best for us to at least match the average cereal price in the US market.
That way we won’t be too expensive for customers to considering buying us, or too cheap for us to make a profit. We should also be having coupons hand out to people in or outside of the stores to encourage people trying and purchasing our product. Place Our product should be available in all the major food stores, retailers, wholesalers, or even convenient stores. We should also have it available in on-line stores, or from our own official website. Besides all those, we can have our products sold through hotels, vending machines or other service places. Promotion We can have our promotions include Facebook, Twitter, official website, radio, TV commercials, magazine, back of receipt, coupons, and word of mouth.
Especially at the early stage of our promotion, the more we let people see and know us, the better result we can get in selling our product. The Core Message Our product, mini’s, is still in an early stage in the US cereal market, which mean it will need a lot of efforts and market planning to help making it mature, and to be able to compete with other products that are in the same market. For starting, we will need a massive amount of advertising through different media to reach our target market. At the same time, we can give out samples to a random selected group from our target market and get feed back from them. We can use the feedbacks we get and improve our product. The purpose of all those is to just get our name out and let our target market know our existence.
The Business plan on Kalevala Koru Company Products Market
... and appropriate products to each market instead of products with Finnish characteristics. Furthermore, different international markets and customers require differential ... target at a specific segment. The CEO based her marketing strategy on three segments: Young people, ... increasing the efficiency of distribution, production and storing processes. 11. Strong financial situation, in which ...
We can also use our international recognizable brand name to build our reputation even before we enter the market. Once we get people to know us, we will get more feedbacks from our customers to improve our product. The point is to always try to satisfy our customers and try our best to have more loyal customers. Promotional Mix Advertising TV commercials, in-store prints, radio ads, billboards. Those are the promotions that are not only towards our main target market, but also other people who are seeing them. Direct Mail Parts of our main target market are moms and students, and most of those people would most likely to check their mails frequently.
We need to have direct mails that go to houses and apartments, that way we can easily reach out to our target markets. Email Campaign After people sign up for our membership on our websites or in other way, we will be sending out emails to them with our latest new, products, discounts, etc. to keep our customers posted. With frequent Email campaign we can get more loyal customers. Social Media We will have Facebook Page and Twitter of our products. We can post or twit about our latest deals, products and keep being interactive with our target market. Also we can post our commercials up on YouTube, so when people search us on-line, they can easily find informations about us everywhere in different media.
Internet Advertising We will have Google Pay Per Click and link to words like: Cereal, Weetabix, mini’s, or other related words, for it will let people who are looking for those words-related things be reached when they search on google. Also we will have Banner Ads on Google or other website for more people to see and know us. KPI Quantitative Information We’ll get at least 50,000 more Facebook likes. (Cheerio’s has 850,928 likes, Kellogg has 16 likes. ) Revenue will go up by 20% Profit will go up by 10% Customer attrition will decrease by 10% (improving our customer services) Qualitative Information Customer satisfaction above market average
