4Ps of Marketing At Kelloggs Special K & Weetabix

Application of the 4Ps of marketing assignment sample

EXECUTIVE SUMMARY

Marketing is being defined as promotion of goods and services in which company deals. The current report discussed the target market of two competitors that is Kellogg’s Special K and Weetabix. The target of former was women focusing on health and latter includes target of athletic boys. Along with the place and prices involved the same strategy for both the companies. At last the promotional activity were also same for both that is use of modern and traditional marketing techniques.

INTRODUCTION

Marketing is being defined as the set of activities which are used by the company in order to promote the product and services of company with the consumer. To work in competitive environment it is very essential for companies to effectively market themselves so that sales of the company can be increased. The current study is based on a comparison of Kellogg’s Special K and Weetabix. The current report will outline the comparison of the target market of both products. In addition to this, all the elements of the marketing mix will also be compared for both product. According to secondary data, the market share of Kellogg’s is 38 % and at second comes Weetabix with the market share of 14 % only (ANALYSIS: All change at Kellogg's top table - Kellogg has been quick to answer the departure of its marketing chief with a new appointment. Tania Mason asks how the changes at the top will impact cereals, 2023).

FINDINGS: Comparison of the target market

Target market is defined as the area on which the company is specially focusing. There are different types of consumer groups being present in market and it is not necessary that the product of company is liked by every segment. Hence, for this some of the group are being focused to which the product will be more suitable. There are different segment on basis of which consumer can be grouped and it is referred to as segmentation. The segmentation being focused by Kellogg’s Special K is based on demographic segment majorly. Under demographic segment, the major focus of company is on health conscious women within the age group of 25- 49. This is particularly focused by in UK the obesity is increasing among women whether they are employed or are homemakers (Lahtinen, Dietrich and Rundle-Thiele, 2020). Hence, due to this major target market of Kellogg’s Special K is women. On the other hand, the target market for Weetabix is particularly based on age that is they focus majorly the younger generation. Within the younger generation specifically the athletic boys are being focused. This is particularly focused by the company because they need sustainable breakfast for supporting them during the sporting activities and also throughout the whole day. In addition to this, the focus of company is also on the adults who are more focused over their health and need to stay healthy.

Product

The product is being defined as the physical good and services which are being provided by the company to the customers. The product of the service is the main source of earning which the company manufactures. It is very necessary for company to have good product and services so that it at attract large number of customers. In case of Kellogg's special K provides a value added benefits to the customer (Hanaysha, Al Shaikh and Alzoubi, 2021). The core benefit which the product provides to the customer is during the process of weight loss. In addition to this packaging of product is also very good and labelling is well which attractive customer to a great extent. In addition to this packaging of the serials of special cake or environmental and use of friendly which protect the environment as well.

Within the Levitt’s model of a brand the product of Kellogg’s Special K relies in the level of augmented product. This is particularly because of the reason that it includes value added products and services which is liked by the consumers well. On the other hand it also provides a wide range of product and services to variety of customers. The product provided by Weetabix is beneficial for health of the person and are organic as well. The packaging of the product is attractive and is appropriate for kids and also product mix portfolio involves different types of product range for different categories of consumer. According to the Levitt’s model of a brand the products of Weetabix lies in the category of expected product. This is particularly because of the reason that it is the category which includes the fact that what consumer think they need while buying the product and services of company.

Price

The price is being referred to as the monetary value which the company charges against the product and services being provided to the consumer. For companies to be successful it is very necessary that they charge appropriate prices for the services they are providing. There are different ways of charging prices of the product and services being provided by the company. In the present case of Kellogg's Special K the strategy is competitive pricing strategy. This is a type of strategy in which the company charges the prices on the basis of competitor’s prices. The company keep the prices of competitor as base and then accordingly charged the prices (Lim, 2021). This type of pricing strategy help Kellogg’s in charging the appropriate prices so that customers are willing to pay for it. On the other hand pricing strategy being used by Weetabix is also based on the competition. Under this strategy company evaluate the competitor’s prices and then set their own prices. This strategy assists the company in analysing competition within the market and then accordingly set the prices so that majority of customers can be attracted towards the company. For effective working of company it is very necessary that appropriate prices are charged so that customer is willing to pay it.

Place

Place is referred to as the way of distribution of product and services to the consumers. There are different channels through which the product and services of company can be provided to the consumers (Lestari, Musyahidah and Istiqamah, 2019). Thus, for this Kellogg’s Special K undertakes the use of both online and offline facilities of providing the products to the consumers. The company has stores as well and also provides the facility of online buying the products. Along with this Kellogg’s Special K is different distribution channel which includes mini superstores, convenience, high frequency, vending and others.

In against this, Weetabix is the company which also undertakes the use of both in-store and online presence. The company undertakes the use of retailers as intermediaries and sells the products through them. Along with this, different supermarkets, wholesalers and other hypermarkets also have the products of both Weetabix and Kellogg’s Special K. The company majorly focuses on providing the product and services through retail stors and online through different e-commerce websites.

Promotion

Promotion is defined as advertising of products and services with which the company is dealing among the consumers. The competition is very high and in case effective promotional strategies will not be used by the company then it will affect the sales of the business. In the case of Kellogg’s Special K, the promotional strategies include the combination of both traditional and modern marketing strategies. This combination is used as it helps the company in reaching every type of consumer. For the positioning of products, the company majorly focuses on providing health products which are modified in accordance with the regional market.

On the other hand, Weetabix is a company which also uses a combination of both, but they majorly focus on modern marketing strategies only (Othman and et.al., 2020). This is particularly because of the reason that in the current competitive environment, people are more used to social media platforms. These social media platforms include the use of Facebook, Twitter and many others along with SEO, SCM and others. The positioning strategy of Weetabix is based on emotional positioning wherein the company try to connect with consumer emotionally.

CONCLUSION AND RECOMMENDATIONS

Conclusion

In the end it is completely that marketing is very essential for effective working of the computer. Marketing provides of based to the complaint for promoting its product and Services within the external environment. Further it was outlined that target market of Kellogg is women whereas Weetabix has be athletic boys as the major target. Also the pricing strategy of both companies is similar that is competitive pricing strategy. At last the promotional activities of the companies is similar but Kellogg's focuses on a combination of modern and traditional techniques where as Weetabix particularly focuses on modern marketing techniques.

Recommendation

With the above discussion it is clear that there are some of the areas in which both the companies have to improve. Thus, for this some of the recommendations are as follows-

• Both the companies must have a sound Research and Development Department so that the latest changes can be analysed. There are frequent changes taking place within requirement of the consumer (Kwok, Tang and Yu, 2020). A sound research in development department will continuously work on analysing these changes and implementing it within the company and its operations.
• Along with this, another recommendation to company is sat they must have good and cordial environment within the company. This is necessary as it will motivate the employees to work in a better and more effective way. As a result of this the objectives of the business will be attained effectively.

References

Books and Journals

• Hanaysha, J.R., Al Shaikh, M.E. and Alzoubi, H.M., 2021. Importance of marketing mix elements in determining consumer purchase decision in the retail market. International Journal of Service Science, Management, Engineering, and Technology (IJSSMET). 12(6). pp.56-72.
• Kwok, L., Tang, Y. and Yu, B., 2020. The 7 Ps marketing mix of home-sharing services: Mining travelers’ online reviews on Airbnb. International Journal of Hospitality Management. 90. p.102616.
• Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing. 10(3). pp.357-375.
• Lestari, W., Musyahidah, S. and Istiqamah, R., 2019. Strategi Marketing Mix Dalam Meningkatkan Usaha Percetakan Pada CV. Tinta Kaili dalam Perspektif Ekonomi Islam. Jurnal Ilmu Ekonomi dan Bisnis Islam. 1(1). pp.63-84.
• Lim, W.M., 2021. A marketing mix typology for integrated care: the 10 Ps. Journal of Strategic Marketing. 29(5). pp.453-469.
• Othman, B.A., Harun, A., De Almeida, N.M. and Sadq, Z.M., 2020. The effects on customer satisfaction and customer loyalty by integrating marketing communication and after sale service into the traditional marketing mix model of Umrah travel services in Malaysia. Journal of islamic marketing. 12(2). pp.363-388.

Online

ANALYSIS: All change at Kellogg's top table - Kellogg has been quick to answer the departure of its marketing chief with a new appointment. Tania Mason asks how the changes at the top will impact cereals. 2023. [Online]. Available through: < https://www.campaignlive.co.uk/article/analysis-change-kelloggs-top-table-kellogg-quick-answer-departure-its-marketing-chief-new-appointment-tania-mason-asks-changes-top-will-impact-cereals/149661#:~:text=Kellogg%20is%20unrivalled%20in%20terms,of%20the%20top%2015%20brands. >