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marketing essentials - Essay Example
Pages 12 (3012 words)
Executive Summary Kellogg is one of the three big companies who offer cereals as their main product offering. The other two are Kraft and General Mills (Kellogg). All the mentioned companies are under immense competitive pressure due to tough economic pressure…
Since the cost of core ingredients is fluctuating more than frequently, it is becoming tremendously difficult to price a product and pass the cost of production to consumers. The entire range of core ingredients like wheat, grain, maze, pulses and especially oil are becoming expensive day by day leading to difficulty in planning operations. However, all these companies are work very hard to stay in the game during these tough economic times, and enjoy which this economic downturn ends. Since, one of the requirements of this report is to come up with a product that is consistent with the company’s culture of innovation and quality. Therefore, the proposed product is in the ready to drink category and the product would be named as “Canoffee” and would target generation X (24-37 years old) and generation Y teen & adults (13-24). This product would cater the need to take a stimulating drink in the morning and one in the evening. This product will act as a Star in the company’s maturing product portfolio. Not only would that it give the company a first mover’s advantage in this category, because not else is having a product belonging to this category. This product would reinforce the company’s image of innovation and quality. Also the product features are such that they would appeal to the youth, who are the most promising customers of the company in the future and who would spend when the economic crisis would end. ...
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