Kellogg’s Special K

In: Business and Management

Submitted By moiducky
Words 324
Pages 2
Kellogg’s Special K

Our project focuses on one of the leading cereal manufacturer in the ready-to-eat cereal industry today, Kelloggs. Kelloggs is considered one of the top producers in the cereal manufacturing industry, gaining a successful market share of $21.5 billion and earned revenues of $13.2 billion in the year 2011. They introduced their Special K line of products in the year 1955, with their main goal of ‘changing lifestyles’ for their current market segments: working women and busy moms by providing weight management guides through a balanced, nutritious diet, and an online community. However, our marketing team decided to suggest an improved marketing strategy for Kellogg’s Special K, to target a broader range of market segments to satisfy their needs and wants. These market segments would consist of men, ages 20-40, teenage girls, ages 15-19, and children, ages 5-9. This will give them a better competitive edge in the breakfast manufacturing industry as Kellogg’s would be able to gain brand popularity and brand loyalty from different consumer age-groups; a larger share of the breakfast manufacturing industry; increased profitability from increased sales of Special K; reduce their dependence over a single market segment and finally to take advantage of expansion opportunities within the industry.
Therefore, our team’s suggested approach for Kellogg’s new marketing mix would involve customizing Special K for men, teenage girls and children. The first P, Product, would mean creating value for these segments by adding different proportions of vitamins into the cereal for men while being high on fiber for teens and sugary for children. The second P, Price, would be to capture value with its existing competitive pricing strategy; setting price close to that of its competitors. The third P, Place, would involve delivering value to its current…...

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