mp week five - Marketing Principles This week Chapter 7...

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MKTG1001: Semester 1 2008 Marketing Principles This week… M ark et Segm en tation T argets P ositioning V id eo Chapter 7
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MKTG1001: Semester 1 2008 Operating in a dynamic environment: Its position within the industry and the influences of macro change Where are we? The firm (Strengths: resources, brands, products, finance, culture) Develop an appropriate strategy (Considering the 3C’s and the environment) U sin g its k n o w le d e f c su m e rs ( From consum er behaviour and arket research/inform ation) Select a target market/s and set positioning (And then proceeds to implementation 4Ps/7Ps)
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MKTG1001: Semester 1 2008 K ellogg’s A Marketing Case Study
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MKTG1001: Semester 1 2008 The Market Leader T h e le a d r in b re k fa s t c r ls th ro u g o t th w rld D te c to la 1 8 0 , w ith K llo rs C am e to A stralia in e m id -1 9 2 ’s ustralia w as th e first export m arket, w here they set up operations In Australia, the breakfast cereal market is worth close to $1b pa.
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Market Shares in Australia SANITARIUM Weet-Bix 16.1 KELLOGG’S Nutri-Grain 6.9 UNCLE TOBYS Flakes Plus 6.8 KELLOGG’S Corn Flakes 4.6 KELLOGG’S Coco Pops 4.5 KELLOGG’S Just Right 4.5 UNCLE TOBYS Vita Brits 4.5 KELLOGG’S Sultana Bran 3.9 KELLOGG’S Special K 3.6 KELLOGG’S Crunchy Nut 2.6 Market share figures are from Retail World's Australasian Grocery Guide 2006 Kellogg’s have 7 of the top ten brands, which alone account for over 30% share of the market
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Originally a “mass-market” approach Had to build the category 1920s Corn Flakes , All-Bran, Rice Bubbles 1950s Frosties, Coco Pops 1960s Variety Pack, Froot Loops, Sultana Bran, Special K 1970s Nutri-Grain 1980s Crunchy Nut Corn Flakes, Just Right, Sustain, Komplete 1990s Mini-Wheats, Guardian, LCMs 2000s K-time Twists, K-time Muffin Bars, Nutri-Grain Bars
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MKTG1001: Semester 1 2008 Some Target Markets Families Young kids Older kids H e a lth c o n sc io u s Heavy exercisers Busy lifestyle O ld er Y g r Health and taste
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MKTG1001: Semester 1 2008 Similar Products have a different market ‘positioning’ Healthy, with good taste options For active, energetic kids Women watching their figure Great taste for adults Good balance, health/taste
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MKTG1001: Semester 1 2008 The key model in the chapter (STP)
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MKTG1001: Semester 1 2008 S eg m e n ta tio
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MKTG1001: Semester 1 2008 What is market segmentation? “The process of dividing a market into groups of consumers with common needs - for the purpose of selecting one or more segments to target with a distinct marketing strategy”
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MKTG1001: Semester 1 2008 Reasons to Segment To better understand the market To help identify positioning requirements To input to the new products process To identify gaps (opportunities) in the market To discover the needs of specific groups To help select the best media
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mp week five - Marketing Principles This week Chapter 7...

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