"Marketing Strategy for Huskys Breakfast Cereal." Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.9.3. Growing Demand for Gluten-free Breakfast Cereal in the U.S. Will Fuel Growth. However, in the beginning this variable will not be considered relevant for the market segmentation. 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. ? Cereal is a popular breakfast food that is consumed by people of all ages around the world. The company also wishes to reach a market share of 5% from the breakfast cereal segment within the first 6 months of launching the product on the Australian market. Nutri Mix is recommended for people with weight problems, as well as people with healthy eating habits. To create a brand, Huskys would need to offer its customers a whole breakfast cereal experience rather than just a product. By making customers loyal to the brand, Huskys would ensure that the products will be bought and the customers will exhibit dedication towards the cereal. Introduction Healthy Co. Pty Ltd is a food processing organisation located in Queensland Australia. BusinessEssay, 8 Dec. 2022, business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. The tourist market would differ behaviorally just as much as they would culturally or demographically. The initial research was focused on six local macro-environment factors that could potentially impact the product. One other behavioural variable refers to the products benefits. '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'. match. The product awareness will be increased via multiple channels, both with above the line and below the line sales promotions. Dont Health-Break Breakfast Cereal Mix will be made using whole grains and will be low in sugar and salts. Pricing it too high would compromise sales. Sort By: Satisfactory Essays. 8 December. The promotional activity will focus on advertising, sales promotions and some PR in the initial phase. In 2021, Kellogg India expands its range of breakfast cereals. For distribution purposes, advertisements are usually used for consumption goods, Nutri Mix falling in this category. Copyright 2022 service.graduateway.com. (2022) 'Marketing Strategy for Huskys Breakfast Cereal'. Supply Side Participants and their Roles, 3.5.1.2. Apart from that, it will set the product apart from competitors and gives Huskys an edge. Several macro-environmental factors impact the marketing of this product; economic, natural, cultural, demographic, political and technological. This can be done through supply chain integration and maintaining communication links with the retailers and hotels/resorts. 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. In Germany, nearlyhalf of cereal consumers prefer cereals made with natural ingredients. Packaging plays a big role in cereal products. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. Huskys cereal is made of processed grain and dried fruits and therefore fits the classification well. Sales promotion refers to short-term incentives to boost the sales of a given product/service. While consumers have traditionally associated fiber with gut health, the pandemic has raised awareness of the role of fiber in immune system health as well. The factors in favour of marketing such a product on the Australian market reside in an aging population as proportion of total population, forcing the government to focus on nutrition as a means to slow down health care expenses (IGR, 2004); the local market being a stable and developed one; the countrys technological development enabling advanced marketing and logistics techniques; and an increased concern for 21st century nutrition trends, pointing to an alarming growth rate of child obesity. The paper "Health-Break Breakfast Cereal Mix Marketing Strategies" is a good example of a marketing case study. This objective seeks to maximize current revenues, regardless of the profit margins. Nutri Mix breakfast cereal is the product developed by the company for this market and its focused on nutrition and healthy life choices. Cereal manufacturers are launching new flavors and textures, embracing non-traditional raw ingredients, and increasing their engagement in ethical andsustainable practices. Huskys would adopt value-based pricing as well. This will help you in targeting potential customers with ease. People from all over the world often visit the area during their vacations. Generally, penetration pricing is used when entering a new market or attempting to increase a relatively small market share. Increasing food retail facilities, as well as rising awareness about the health benefits of eating grain-based breakfasts will boost sales in the forthcoming years. It is an important concept because a product that is not accessible by the customer is useless. Salt has been linked to high blood pressure, which can lead to heart diseases and stroke. The package for all consumers will display the nutritional content according to the latest food regulations. Huskys cereal has an attractive and promising target market with the South West tourist region and the local rural market taking into account the segmentation variables, Huskys needs to adopt a suitable marketing mix and IMC strategy to achieve its marketing objectives. It was my honor to be able to interview Lin Lin Ku and to obtain a clear picture of Taiwanese breakfast cereal industry. Since it is targeted towards two different segments, one being a niche market, the objectives will be clear and specific (Philip Kotler, 2008). The main types of pricing are value-based pricing, cost-based pricing, and target profit pricing. It is the main outlet for all cereal brands. om (a)). Promotion needs to be intense to penetrate the market and create immense brand recognition and equity. (2006). Email marketing is a strategy used to promote a product or service through email while developing relationships with customers. Breakfast Cereal Market Estimated Size (2022), Let us know your requirement to get 100% FREE customization. B&G Foods Inc . But there are other significant factors as well. Which are the positive and negative factors impacting the Breakfast Cereal Market. According to NetMba. Recent developments include: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. (2022, December 8). (PESTEL analysis). 2.2. Quaker Oats The American Cereal Company (Quaker Oats) created an oatmeal cereal in 1877. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 13.2. 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). (2009). Marketing objectives The marketing objectives for 'Nutri Mix' refer to product awareness, target market and market share. Profitability by Market Segments (Product/Age /Sales Channel/Region), 18.1.3.3. December 8, 2022. https://business-essay.com/marketing-strategy-for-huskys-breakfast-cereal/. BusinessEssay. Y-o-Y Growth Trend Analysis By Nature, 2017-2021, 5.5. These two factors count significantly in addition to the price when it comes to customers buying breakfast cereal. For instance, Kelloggs, one of the largest breakfast cereal producer worldwide, encouraged its consumers to eat its products on the occasion of getting up. Due to this aggressive marketing, rapid development of new products and a certain surge in consumer awareness of natural cereals, the sales of breakfast cereals has grown steadily in recent times with the retail sales figures increasing by 3% last year alone. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 15.2. Recently more methods have been developed including telemarketing, online shopping or radio selling. Historical Market Size Value (US$ Bn) & Volume (MT) Trend Analysis By Market Taxonomy, 2017-2021, 9.2. Nutri Mix will be positioned as a medium priced product, just like other healthy breakfast cereal products on the market, such as Weet-Bix from Sanitarium Health Food Company. Since this is a food item, taste plays an important role. Entering at a moderate/low price with a good promotion will result in customers switching over or trying the new hyped-up product. The initial research was focused on six local macro . Across all cereal brands, General Mills and Kellogg's collectively accounted for $7.3 billion of cereal sales. Agent. This includes both the tourist niche and the local rural segment. Sales of Ready-to-Eat Breakfast Cereals to Remain High. Public relations (PR) refer to the building of good relations and company image with the companys public. By continuing well Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 11.1. This will be done by attaching tourism and local heritage links with the products packaging and promotion. 'Nutri Mix' breakfast cereal is the product developed by the company for this market and it's focused on nutrition and healthy life choices. High Demand for Fortified Cereals in Germany Will Boost Sales. Huskys business is located a few miles out of the Southwest tourist district, where the facility is located. Whenever the market situation is in decline or at overcapacity, a company may choose a pricing level that covers the costs and allows it to remain in the market even though the profits may be affected. The marketing mix Product This strategy pays respect to the characteristics of the final product, namely the extent to which it matches the customer requirements, the quality, the brand name, functionality, styling, safety, packaging, warranty, reparations & support and accessories & services (NetMba. Have Tie-ups with Grocery Shops For a cereal company, the targeted audience will be found in all the grocery stores. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021, 6.5. Market Share Analysis of Top Players, 18.1.1.3. The product under consideration is Huskys breakfast cereal. A company may choose price stabilization, thus avoiding price wars and maintaining a moderate profit level. The strategy requires high demand elasticity, so that the demanded quantity for the product using the strategy changes easily when its price changes. A distributor is a company that markets or sells merchandise, especially a wholesaler. Nestle SA is a Swiss multinational food and beverage conglomerate operating its business in India under the name of Nestle India. In case you can't find a relevant example, our professional writers are ready Because of innovative technology and marketing, Europe is also a prominent market for breakfast cereals. Huskys would adopt a combination of both with more emphasis on the pull. com (a)). Incorporated in 1906 by W.K Kellogg, Kellogg's initially started the business with breakfast cereals i.e. The pricing strategy used will be value-oriented and a fair amount of profit will be made based on the value provided to the customer. On the basis of nature, sales of organic breakfast cereal are anticipated to increase over the forecast period. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country, 15.1. The initial research was focused on six local macro-environment factors that could potentially impact the product. Special deals and promotions can be developed to partner with local tourist resorts and hotels that generate mutual benefit. Special deals and promotions can be developed to partner with local tourist resorts and hotels that generate mutual benefit. This segment is dominated by Kelloggs, which is also one of the largest breakfast cereal marketers worldwide. 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