Principles of Marketing: Target Market, Product, Price, Place, and Promotion

Principles
of
marketing

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Comparison of target market .................................................................................................1
Product ...................................................................................................................................1
Price........................................................................................................................................3
Place ......................................................................................................................................4
Promotion...............................................................................................................................5
CONCLUSION ..............................................................................................................................6
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REFRENCES ..................................................................................................................................7

INTRODUCTION
Marketing is defined as the sum of activities involved in directing the flow of of goods
and services from manufacturers to consumers. The main principle of marketing is to facilitate
and promote exchange. The two organisations selected for this report are Kellogg's coco pops
and Weetabix. This report includes detailed target market profile for each brand. Levitt's model
is also applied to each company in order to understand main differences between the brands at
functional and emotional level. Brand personality framework is also used in this report in order
to understand personality type of each brand. Distribution network of each brand is identified in
this report as part of the place marketing mix and the communication and advertisement methods
of each brand are also included in this report.
MAIN BODY
Comparison of target market
STP analysis of Kellog's coco pops
Segmentation: The segmentation strategy of Kellog's coco pops is demographic as the
company targets their products on the basis of their age.
Targeting: The target consumer base of the company is children.
Positioning: The company positions itself as tasty and nutritious breakfast cereal for kids
. The company promotes their brand with focus on their brand mascot and offers various gifts
with their cereal to attract children.
STP analysis of Wetabix
Segmentation: The segmentation strategy of Weetabix is psycho graphic as the company
targets their products on the basis of healthy lifestyle of consumes.
Targeting : The target consumer base of the company is health conscious people.
Positioning: The company positions itself as healthy breakfast cereal for every family
member. The company aims to position their product as breakfast cerebral which helps British
families in gaining nutrition for daily life.
The compression between segmentation stare of Weetabix and Kellog's coco pops depicts
that each brand has different target consumer base . Kellog's coco pops is aimed at children while
Weetabix is aimed at families. The target market of each brand forms the basis of their
promotional activities and brand image as Kellog's has created child friendly brand image while
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Weetabix has creates brand image of healthy and nutritious product for every age group. The
comparison between positioning of Weetabix and Kellog's coco pops is that Kellog's coco pops
positions itself as brand of choice for young children while Weetabix positioning revolves
around becoming family breakfast cereal for UK consumers.
Product
Levitt's model of consumer value hierarchy
This model states that during the creation of market offering, five levels of the product
need to be considered. Each level of the product increases additional value given to the consumer
and form the consumer value hierarchy (Bhandari, 2018). Application of levitt's model in food
products Kellog's coco pops and Wtabix is defined below:
 Core Product: This is the elementary product offered by the company and this level is
centred around accomplishing the purpose for which the product is constructed.
In context of Weetabix, the main purpose of the product is to offer a helathy wheat based
breakfast cereal to their consumers for daily consumption. Kellog's coco pops main purpose is to
provide tasty breakfast snack and cereal to children. The differences between the core product
between the two brands highlight functional differences as Kellog's coco pops aim to satisfy taste
buds of their target consumer base by producing delicious breakfast cereal while weetabix offers
healthy breakfast cereal to their consumers.
 Generic product: The second level of the consumer value hierarchy include various
product attributes which satisfy the core benefits offered by the product. Product qualities
which are essential for fulfilling core benefits are provided in this level (Bruhn and
Schnebelen, 2017).
In relation to Kellog's coco pops, the product quality which satisfy the core product benefits
include chocolate flavour of the breakfast cereal. In addition to this, this product includes various
ingredients which help provide delicious experience to the consumer. This includes fat reduced
cocoa powder, cocoa mass and flavourings (Kellogg's® Coco Pops®, 2019). In case of
Weetabix, their product has high fibre ans contains various minerals such as calcium and iron
which helps increase health benefit of the product. Apart from this, Weetbix contains folic acid
which is essential for healthy tissue and cell development.
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