Nelson College Business Strategy: Kellogg's Strategic Plan Analysis

This report presents a detailed strategic management plan for Kellogg, focusing on market leadership in the cereals and convenience food industry. It addresses the need to revive pricing strategies, adapt to industry changes, and maintain brand innovation. The plan outlines key strategies including product development, diversification, market penetration, and market development, with risk assessments for each. The report emphasizes the importance of a dedicated committee to monitor all processes and operations. It concludes with a summary of actions to attract consumers, achieve organizational goals, and strengthen performance. The report references academic sources to support its analysis.

Business Strategy

Detailed strategic management plan for Kellogg
• Kellogg is the market leader in cereals & convenience food industry. The company
has been established successfully in the market with great international reputation
and it has great brand recognizance.
• Kellogg needs to revive its pricing strategy. The company needs to be ready to sell
the product at the low price because its weaknesses is exploited by its competitors.
The company has to realize the potential of decline of cereals industry because of
the presence of the close substitute. The great challenge for the company is to keep
up with their brand innovation, development & market research.
• For monitoring the process of the company must establish a special committee
which will monitor all the process and operations conducting in the organization
keeping in mind that each department is conducting the work properly to achieve
the companies goal and objectives effectively.

Product development
• Product development states that using the existing product as the
base for the development of the other products. For instance, if the
category of product is successfully established in the market then by
using that product as the base the Kellogg company can introduce a
range of new products within the existing range. Thus, for Kellogg the
company can introduce elevenses, multigrain etc. the risk factor in the
product development stage will be at medium level.

Product diversification
• Seek to develop or create new products, range of products or line of
products, similar when multigrain was first introduced by the Kellogg
company. The risk factor here would be the highest as the product &
market both are new for the organization

Market penetration
• Trying to take a share of the existing market with an already existing
product. This could involve re-launching of the products & increasing
brand awareness. Thus, here the product would be already existing in
the market which shows at this step the business will be at low risk.

Market development
• Finding or creating the new markets by directly targeting new parts of
market or by expanding into the new market. This part of the ans-off
matrix shows here the market and product both will be new, which
results in medium risk to the business

Conclusion
• This ppt can be concluded as a set of actions or competitive moves
that a business takes to attract consumers, compete successfully for
achieving organization goals & strengthening of the performances is
called business strategy.
• This ppt includes the detailed strategic management plan for kellogg
company.

References
• Akter and et.al, 2016. How to improve firm performance using big
data analytics capability and business strategy alignment?.
International Journal of Production Economics, 182, pp.113-131.
• Buckley, P.J. and Ghauri, P. eds., 2015. International business strategy:
theory and practice. Routledge.
• Higgins, D., Omer, T.C. and Phillips, J.D., 2015. The influence of a firm's
business strategy on its tax aggressiveness. Contemporary Accounting
Research, 32(2), pp.674-702.
• Johnson, G., 2016. Exploring strategy: text and cases. Pearson
Education.