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. In the long-term this objective aims to maximize profits by reducing costs and increasing market share. However, this objective might not be ideal if it results in lower long-term profits. There are can several distribution channels as well. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.7.3. This is usually a short-term strategy. Oceania Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 14.1. with Huskys cereal; the three components of the product would be Quality, Brand name and Packaging. Health-Break Breakfast Cereal Mix will be made using whole grains and will be low in sugar and salts. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.6.3. The product under consideration is Huskys breakfast cereal. A pull strategy lets the customer pull information at will and based on their requirements and convenience. 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. The main marketing objective for Huskys cereal is to gain the highest market share relative to other competitor cereal brands, within six months of the launch. As far as IMC budgeting is concerned, Huskys will adopt a Task Method approach. Introduction Healthy Co. Pty Ltd is a food processing organisation located in Queensland Australia. That will allow Huskys to comprehensively plan and assess all costs and expenditures. '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'. Advertising is a form of marketing communication through which customers are persuaded to purchase and buy more of a brand or products/services. In cost-based pricing, the cost incurred manufacturing and marketing the product is considered and a certain level of markup is calculated and charged over the cost. Huskys would need to add a touch of local flavor in order to create a unique offering for the tourists. ? People from all over the world often visit the area during their vacations. 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. Forecast Factors - Relevance & Impact, 3.9.2. 8 December. (2006). Value-added pricing will be used as well as part of special promotional endeavors in collaboration with other products in the future, as a free cereal bowl with a cereal pack. Market Analysis - Marketing Strategy of Kellogg's The market and product in which Kellogg's deals are overcrowded with a large number of players. Healthy Co. Pty Ltd is a food processing organisation located in Queensland, Australia. match. It can also be distinguished between advertising, sales promotion, public relations, personal selling and direct marketing in terms of integrated marketing communications or better said the marketing communications mix. "Marketing Strategy for Huskys Breakfast Cereal." Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 11.2. 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. Good value pricing seems to be a good way of providing quality and value to the customer and receive value accordingly. [350 Pages Report] The global breakfast cereal market is expected to reach a market valuation of US4 42.3 Bn by the end of 2022, with demand growing at a CAGR of 4.4% over the forecast period. Cereal is a popular breakfast food that is consumed by people of all ages around the world. Your content marketing can emphasize the healthy qualities of your product, the target is to drive business growth. Cooked breakfast cereal took a path of their own, coinciding with the ready to eat cereals of Kellogg and Post. The segmentation variables under consideration are explained below (Philip Kotler, 2008). In case you can't find a relevant example, our professional writers are ready 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). High Demand for Fortified Cereals in Germany Will Boost Sales. Historical Market Size Value (US$ Bn) & Volume (MT) Analysis By Nature, 2017-2021, 5.3. Today its product portfolio includes convenience foods such as snacks, biscuits, waffles, pastries cookies and crackers. Nestle SA is a Swiss multinational food and beverage conglomerate operating its business in India under the name of Nestle India. Geographic segmentation consists of dividing customers into groups based on variables such as region of the country to or rural/urban area in which they are located. 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. IMC is important because it allows companies to design campaigns that are both effective and consistent across multiple media platforms and/or types. Upon trying out the product, Huskys job is to make sure that the customer likes and enjoys the taste, quality and value in order to make them switch over to the new product. com (a)). Email marketing is a strategy used to promote a product or service through email while developing relationships with customers. In the 1990s, direct selling was increasing a lot in Australia as was all over the world. "Marketing Strategy for Huskys Breakfast Cereal." 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). This is because the budget is based on the IMC objectives and takes into consideration all concerned marketing variables. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. Apart from that, it will set the product apart from competitors and gives Huskys an edge. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 17.3. The most relevant in this case is road transport. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.13.3. These include variety, quality, features, packaging, etc. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.10.3. Age is an important demographic variable for Nutri Mix as the product will target certain segments that are more likely to consume healthy food products. South Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 13.1. Cereal marketing is the promotional strategy used by cereal companies to sell their products to consumers. Correct writing styles (it is advised to use correct citations) Entering at a moderate/low price with a good promotion will result in customers switching over or trying the new hyped-up product. Personal selling includes presentations made by the companys sales force in order to build relationships and increase sales. It is an important concept because a product that is not accessible by the customer is useless. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. A few ideas on how to put your breakfast cereal business on the map: 1. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. Road transport is the simplest one in which a logistics department or firm transports the goods to distributors, wholesalers and retailers. 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. Between 1985 and 1995 the child obesity grey almost 50% in both genders (Parliament of Australia, 2006). The integration of all promotional tools is meant to maximize impact on consumer mind and minimize costs. What is the anticipated market value of the breakfast cereal market by 2032 end? om (a)). Supplemental understanding of the topic including revealing main issues described in the particular theme; Breakfast Cereal Market size was valued at US$ 47.32 Bn in 2021 and the total revenue is expected to grow at 4. . Therefore, the pricing must be suitable for those segments. 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. writing your own paper, but remember to Product Claims & Nutritional Information Scan by Buyers, 4. Who are the key players operating in the market? 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. This will be done by attaching tourism and local heritage links with the products packaging and promotion. Please be sure to check your SPAM/JUNK folder too. How can you develop stable and lucrative revenue streams? Several factors would come into play here as the target market is the tourist market, but one of the main variables would be Nationality. For Huskys, retailers play an important role because that is the main place where customers purchase cereals. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 9.1. The rest of the products will adopt packages matching with the children and cereal bar styles, but in weaker shades. The earlier you get in, the lower the competition. To create a brand, Huskys would need to offer its customers a whole breakfast cereal experience rather than just a product. The sales promotions will cover each product line at the time to give customers a change of trying each product line with a buying incentive before becoming used to them. Agents usually sell on behalf of the producer and work on commission. Costs would not be great and the model is simple. This variable is widely used in consumer marketing, mostly in clothing, cosmetics or toiletries. Gender is another relevant variable for Nutri Mix market segmentation. Domestic tourists can be from the working class as well. In Germany, nearlyhalf of cereal consumers prefer cereals made with natural ingredients. Y-o-Y Growth Trend Analysis By Nature, 2017-2021, 5.5. For the rural segment, it has to be affordable and accessible in order to be used regularly (Philip Kotler, 2008). The product awareness will be increased via multiple channels, both with above the line and below the line sales promotions. 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. One other behavioural variable refers to the products benefits. This essay was written by a fellow student. Given that Healthy Co. Pty Ltd is just entering the market with a brand new product, the company wont have the capacity to handle a distribution channel with a few links (e. g. distributor for a large retailer). Recently more methods have been developed including telemarketing, online shopping or radio selling. A distributor is a company that markets or sells merchandise, especially a wholesaler. The cereal is expected to contain an adequate supply of proteins, carbohydrates, energy, minerals and vitamins per bowl Health-Break . All rights reserved. This will ensure a good market share that Huskys can improve upon. This variable consists of factors such as the product quality, service, economy provided, convenience and speed. Breakfast cereals with a high fiber content are gaining traction. 2022. These can retailers who sell products at local shops, wholesalers who sell the product in bulk at low prices to retailers and other customers, distributers that distribute the product to wholesalers and retailers as well as other large customers, franchises, that are independent businesses that operate a particular brand and pay royalty and finally agents who sell products and earn a commission on the sales. The cereal is targeted towards the South West tourist region. Need Help with Blue Ocean Strategy of Mymuesli New Markets for Customized Breakfast Cereal? The PR will focus on the health benefits of consuming Nutri Mix and the environment aspects. Thus the company meets the changing needs and wants of the customers over the years. Conclusion Nutri Mix is a breakfast cereal mix of products focused on healthy eating habits for mainly children and senior consumers. The company is aiming to increase product awareness through intensive targeted promotional campaigns over a period of 6 months. . . Sales of Ready-to-Eat Breakfast Cereals to Remain High. Have a tie-up with grocery stores in various cities so that your company is their first choice to pick up cereals from. Breakfast cereal brands are investing in improving their product portfolios to increase the nutrient quality and lowering sugar content. Developing Footprint 17.3.2. 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). Trucks from a third party or huskys own logistics service would transport the product to wholesalers and retailers. are driving the market growth. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.5.3. Pricing it too high would compromise sales. Huskys would adopt a combination of both with more emphasis on the pull. Mid-Level Participants (Traders/ Agents/ Brokers), 3.5.4. Some of the most common distribution channels available to companies can be defined as below: ? Since it is targeted towards two different segments, one being a niche market, the objectives will be clear and specific (Philip Kotler, 2008). Historical Market Size Value (US$ Bn) & Volume (MT) Analysis, 2017-2021, 4.2. Pricing strategy is the planning and implementation of what amount of money to charge from the customers for the particular product being sold. These objectives are mainly market share, brand awareness, health and nutrition and an efficient low-cost distribution channel. Our experts can deliver a custom Marketing Strategy for Husky's Breakfast Cereal paper for only $13.00 $11/page Learn More 322 specialists online The main marketing objective for Husky's cereal is to gain the highest market share relative to other competitor cereal brands, within six months of the launch. Wide availability of other breakfast options such as yogurts, breakfast biscuits, snack bars, smoothies, and baked goods is a key factor which is driving innovations in the breakfast cereal market. Market Size Value (US$ Bn) & Volume (MT) Forecast By Market Taxonomy, 2022-2032, 15. BusinessEssay, 8 Dec. 2022, business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. Tailored content can include videos . 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. 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. The promotional activity will focus on advertising, sales promotions and some PR in the initial phase. However, this will be discussed further in the promotions section of the 4Ps. The product is targeted towards the Australian South West Tourist Market with the rural area under consideration. It also touches upon business topics such as - Marketing Mix, Product, Price, Place, Promotion, 4P, Competition, Pricing. ? Huskys cereal is made of processed grain and dried fruits and therefore fits the classification well. 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