Comparison of Weetabix and Kellogg's on the basis of 4P marketing mix
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This report compares Weetabix and Kellogg's on the basis of product, price, target market, place and promotion. It includes STP analysis, Levitt's model, pricing strategies, distribution channels and communication channels.
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4P of marketing mix
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Executive summary Marketing is generally a set of various procedural activities for the creation of statically distribution of valuation, effective communication and the values to make extreme income. Main purpose of this report is to determine a comparison between two brand one is Weetbix and other is Kellogg’s on the basis of their product, price, target market, place and promotion. Only secondary data are used in this report.
Introduction Marketing is an activity, which include the selling, advertising and delivering the goods or products to customers or the businesses. It includes all those procedures, which help an organization to promote or market their products. There are some principles in the marketing, on the basis of which a business build their product promotion strategies. These are very helpful for the effective and efficient promotions of the product and services. There are two organizations one is Weetabix and the other is Kellogg’s Coco Pops, both of them offer the breakfast cereal to the consumers. This report includes the comparison between both of two organizations on the basis of their target, product, price, place and their promotions(Benoit, Lessmann and Verbeke, 2020). Comparison on the basis of target market The STP analysis is very effective for any organization, because it focuses on braking their customers based on the smaller groups and also allows them to develop their specific marketing strategies to engage the target audience. Segmentation- In this the market is divided into different parts according to their customers characteristics based on some specific criteria. In relation of Weetabix, it divide their customers based on the demographic criteria. It include profession, gender, age ad other etc. whereas the Kellog’s coco pops divide the customers based on geographic, demographic and psycho graphic criteria. It includes different values, social status and age of individual. Targeting- It identify a segment which is most likely to create the desired conversions and it focus the marketing efforts on. In context of Weetabix, they target adults, kids, youth and students for their product.Whereas Kellogg’s mainly target the school going children’s, because they skip their breakfast in the morning. It also targets the whole family to use social norms that a nutritional food value makes them a healthy person( Gbadamosi, 2020). Positioning- In this, there is product positioning and marketing mix that is most likely to appeal to chosen consumers. It helps the company to set their product in the market apart form their competitors. Weetabix product positioning is a cereal brand for the consumers. Kellogg’s product positioning is based on market penetration, they offer low price products to their customers. They positioning themselves as the fun and a healthy option for morning breakfast.
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Comparison based on the product of brand. Product is an item that can be offered to the customers to satisfy their wants and needs. The Levitt’s model is based on the idea of specific products and services as the stratification of levels. It has four kinds of products. First is Basic product which only assures and satisfy the core benefits of consumers. The second type is Expected product, which has the basic attributes and all those characteristics which are expected by the consumers. Levitt’s third product is as augmented product that can exceed the consumer’s expectations. The last product is categorized as the potential product, which include all original benefits and features that really make it different and distinguish offering. Weetabix categories their products as an augmented products, because they consider the protein as a platform for their company’s growth. They also conducted a big rise in product development that is occurring from wheat protein and the pea protein. Kellogg’s categorized their product as basic product, because their products contain the nutritional features including salt, sugar and the various vitamins( Ho, Pangand Choy, 2020). TheAakerintroduced five dimensions of a brand personality which are sincerity, excitement, competence ruggedness, and sophistication. In context to this model,Weetabixrepresent their brand personality of the sincerity with the high quality cereals which dives the trust. In contrast Kellogg'scoco pops characterize portrays a brand personality of the excitement with their humanity and simplicity help suggest a sense of an excitement. Comparison based on the pricing strategy It is a process which is used by a company to fix their price of a particular products and services. It takes in account many factors like market situations, supply and demand of products, needs of the products and consumption of the resources within the market. There are any types of the pricing policies which are followed by the Weetabix and Kellogg’s. Weetabixfollows the cost based pricing strategies and value based pricing strategies.There is different price for the different product in a cost based pricing strategy. In this, the organic one is expensive as compare to the original one.For the customer’s convenient, Weetaix makes a cup of breakfast cereal. It increases their product’s price due because of value added by the convenienceservices.Kellogg’sfollowsthecompetitivepricingpolicy.Theyusessome programs like discount, offer and other schemes in the form of coupon that can be redeemed by the customers for the free products.They keep their prices flexible so that they can compete with their competitors and also depend on their sales growth. Often Kellogg’s dominated by their own product’s brand to given market leadership( Hunt, 2020).
Comparison based on distribution channels or place This flow is followed by the productsand services from production to the final customers. it involve the retailer, producers, wholesaler and the final customers. it is a business chain through which a services or product passes to reach their the end consumers. This distribution channel can be direct or indirect. An organization’s indirect channel is separated in to many levels. This network is used by the businesses to deliver the company’s product from their manufacture to their final users. It’s a critical component of the downstream supply chain of a company( Mohammadiand Reed, 2020).Weetabixuses the various distribution channels such as the retail stores, discounts, supermarkets and independent food stores. They use their existing distribution channels and the experience. To continue their grow penetration and the distribution; they are going with the new and multi channel marketing campaign. This supply chain is used by the Weetabis to deliver their products. Their product also sold through the retail stores.Kellogg’s is a worldwide organization and they serves a global area, that involve the manufacturing plans in about 18 countries such as Canada, Asia, Latin America and the Australia. The marketing and selling of product and services of the Kellogg’s is accomplished about the 180 countries. They also directly deal with the retailers in order to send the goods to their targeted consumers. They opened a warehouse to keep a well stock of the product’s supply to dispatch of the product in efficient manner. Kellogg’s also got a large portion of their sales through stores, like the Wall mart. Comparison based on the communication channels or promotional methods The promotion is a kind of communication and it is used by the firms to provide information about their product’s benefits and features to their target customers. These methods are used with the purpose of increasing awareness and create the interest among the customers for the company’s brand. Another motive of the organization is to generate their sales and brand loyalty about their particulars product among the audience.Weetabixhas become a favorite food item for the breakfast in UK. They uses various social media platforms such as Facebook, You tube and others to promote their products among the audiences. These techniques are very effective to target the consumers for their product’s consumption( Ye, and et. al., 2021). Televisions, radios and traditional media are some promotional and effective activities for the promotion.In the other promotional move, Weetabix has released the mission nutrition and PC game with the special packs of cereals. The Weetabix’s campaign will highlight the taste, nutrition and value of their products.Kellogg’soffers healthier food products to their consumers and it is an admirable promotional strategy.To attract and aware the audience, Kellogg’s uses the media channels and it broadcast their promotional campaigns on TV and it specially cover the kids channels. They repeatedly introduce the gift items and shown their ads on various
promotional platforms. They take help of Merchandise to market their products.It is a top FMCG company to whom the other FMCG companies look up to for the promotional idea ( Todorova and Zhelyazkov, 2021). Conclusion From the above report it is concluded that the marketing a significant element for any business. In the above conversation, there is an evaluation between two reputed bran one is Weetabix and another is Kellogg’s. They both have different target market on the basis of segmentation, targeting and positioning for their products. They adopt different pricing policies, distribution channel, and different communication channel and different products based on the Levitt’s model.The marketing mix is very crucial for any organization and their brand to survive in the market and work efficiently.
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