will

Task 1

To make a market plan we are going to cover eight topics in which to make the product best

for its consumers. To do this we will be covering the concept of the product, the product

itself, any similar products from competing businesses, where the product will be sold, the

life of the product on the shelf and finally the target group.

Market research

When looking to create a new product market research must be used, market research is

very important to the company as it helps to get an edge over other companies, and to help

get information first. There are many strategies of market research that can be used when

creating a new product for example focus groups which will vary in ages depending on what

age the product is aimed at. A focus group will involve questions about cereals for example

“what would you want in the morning?” and “what are other products missing” and the

answers to these questions will be used to create the new product. Another way of using

market research is to use quantitative research and this involves questionnaires and

customer research for example people who go out in high streets with surveys and

questionnaires and will stop random people and ask them questions about products. The

use of ways like focus groups is known as Qualitative research, and this mainly uses feelings,

and ideas and colours and shapes instead of facts and digits. 

Marketing elements

Key elements of a successful marketing strategy

Existing and potential customers, they fall into particular groups or segment, characterised

by their needs as a customer. Identifying these groups and their needs through market

research, this is then followed by addressing those needs more successfully than their

competitors; this then would be one of the key elements of your marketing strategy.

Kellogg’s can then create a marketing strategy this then helps their business make the most

of their strengths and matches them to the needs of the customers you want to target. For

example, if a particular current group of customers of the Kellogg’s company is looking for

the quality of the product first and foremost, this means then that any marketing activity

aimed at them should draw attention to a high quality of the products that Kellogg’s are

making. Once Kellogg’s has created a marketing plan and have decided on a marketing

strategy, Kellogg’s then have to decide on which marketing activity or activities that will

ensure their target market group, for this task the target group audience is ‘Teenagers’, and

they will need to know actually the product that Kellogg’s are offering and this also includes

why they meet their needs for the target group.

Executive Summary

Executive summary is basically a short document or a section of document this is produced

for business purpose. That summarizes a longer report or proposal or a group of related

reports also this is like a summary of the marketing plan, and a simple marketing plan would

include:

•          Mission – this is the overall of the company and their overall goal is to be able to bring new product for a target group.

•          Objectives – objectives is what are you trying to achieve usually over the next year. For Kellogg’s their objectives are successfully lunch the new product and sale enough to make it successful.

•          Strategies – The strategy is to narrow down our thoughts on who would buy the product and who the product is meant for. To do this we will need to look at similar cereals and find what market they are in.

The challenge

The challenge is basically similar company goals but it’s just for the product instead of the

company, and their main goal is to create the product to their standards and selling to the

market successfully for the next year

Situation Analysis

The company main goal would be to make a profit from the new product. Their main focus

is on making a profit from the product and also to satisfy the customers who purchase the

product. Next, is the culture, this is to make the product available to all people without

offending anyone from a different country and also it should appeal to them. Next are the

advantages and disadvantages. The company’s advantage is that they are very strong at

selling cereals however they are not too strong at selling energy bars as they have never

done it before. However, Kellogg’s sell cereal bars which are similar to energy bars.

Customer analysis

The customer that would buy this product is mums who have children. This is because she is

a caring mother who wants her children to do well in school and the bar is all about making

kids brains work better hence the name Brain Food. Another reason is because it is a low fat

which is also good for children.

Climate

 The economic climate is the recession around the world, which is causing people to spend

less and have less money.

Politically we are being ruled by a co-elision government.

The social change that is happening is, people are not eating a traditional breakfast

anymore. A lot of people are eating on the go or even missing breakfast.

A main technological change is almost everyone has a smart phone, for example and I

phone. A way advantage could be taken is a Kellogg’s application could be made.

Product

The brand name of the products is going to be Brain Food.

This has to be a high quality product because Kellogg’s is a high quality company and they

have to keep their name well respected.

We are only going to sell 1 version of the product at first in case it does not succeed,

however if it does do well we will most likely expand on the product.

The packaging for the product is going to be a flow rapping and will be bright colourer and

energetic, this is because it needs to attract students and it has to represent energy in the

morning.

Price

The list price of the product is going to be £1.29

Discounts for the product could be offers such as two for £1, or we may do a multipack of

six bars for £3.

Place (distribution)

The distribution channels will be sold on high streets, in Tesco’s as this is a huge food

company. Tesco’s can then sell ‘Brain Food’ in multi packs. It can be sold in all other

supermarkets, they can also be sold in garages as an energy snack.

We are going to give our distributor margins 60%.

Promotion

Advertising will be though television adverts, bill boards and magazines, they then can

promote it in multipacks in supermarkets as then parents would pick them up for their

children.

For public relations Kellogg’s could do a ‘Call of Duty’ game supported by ‘Brain Food’ as it

will promote the cereal  bar.

Short & Long-term Projections

Short term – sell 1 million in 3 months

Long term – become leading energy cereal bar

Conclusion

In this report we have spoken about price, product, promotion, place, swot analysis and

competitor analysis.