Introduction
Marketing mix is the right decision regarding the right combination of price, place promotion and place of the things to be marketed. The decisions regarding marketing mix are taken at the introduction stage of product life cycle and appropriate changes are made throughout the life stages of the brand or product. Introduction stage of the product life cycle involves the implication of the marketing mix in such a way to establish a market and to build primary demand for the product. In this paper Product and Place of the marketing mix of Kellogg’s product are analysed.
The product selected for this study is Kellogg’s breakfast cereals, the US cereals giant was established in the year 1906. Kellogg’s is the leading producer of cereal products and convenient packaged food such as cookies, kripsies etc. Kellogg’s is having many brands which include Corn Flakes, Nutri-grain, Special K and Rice Krispies.
Product
Kellogg’s Special K belongs to the category of breakfast cereals. Kellogg’s products has been using as breakfast for about 100 of years and is categorized into six market segment segments in various names such as Tasty Start, Simply wholesome, All Bran, Special K, Frostries, Raisin wheat etc. Thus the company meets the changing needs and wants of the customers over the years. Each brand is having variety of flavours. “Where products are adapted to suit emerging markets, it will affect their profit potential. The strategy that most multinationals adopt involves offering a narrow range of existing goods–that is, those already well established in other markets.” (Allot, 2002).
Special K cereals are positioned as healthy balanced diet to start the day. It is well established and is having potential to reach further. The product comes into 360 and 630g. It is priced above average to concentrate on customers who are ready to spend more for fitness, health and shape and is having high quality. It took high quality, high price strategy. Managers of the Kellogg’s are actively making key changes in the product by analyzing its product life cycle stages.
“As the product progresses through its life cycle, changes in the marketing mix are usually required in order to adjust to the evolving changes and opportunities” (Marketing: The product life cycle, 2007).
Place
Availability of the products to the customers an important part in bring growth to the sales market. If it is not available in the supermarkets may makes heavy loss.
” The pricing and availability of the product determines the profitability of a product.” (Kellog’s marketing: From the paper, 2002).
“Special K cereals are available to the broad mass through retailers”. (Muller, 2004).
Place is about getting products to the customers. It involves decisions regarding the distribution channels, market coverage, inventory management, transportation decisions etc.
Kellogg’s has achieved market growth with having great brands and great brand value. Kellogg’s each brand is having stronghold in the competitive market. They used to monitor the success of brands in terms of market share, growth and performance in the competitive market. They achieved strong position in the market through their commitment towards social responsibility and concept of promotion of healthy living.
References
Allot, Anita. (2002). Caveat vendor: western multinationals have been scrambling to exploit the huge potential of the emerging economies in the developing world. Anita Allott describes the pitfalls awaiting those that fail to tailor their marketing to consumer needs in these new territories. BNET: The Go To Place Fior Management. 2008. Web.
Kellog’s marketing: From the paper. (2002). Aca Demon: Term Persons and Essays. 2008. Web.
Marketing: The product life cycle. (2007). NetMBA: Business Knowledge Center. 2008. Web.
Muller, Anne Kathrin. (2004). Determination of target market for Kellogg’s special K. Grin Publishing for Free. 2008. Web.