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Critically examine Kellogg's Marketing Mix and how it can gain and/or increase its competitive advantage in the market - Essay Example

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Marketing is defined as the communication of a product, brand, or service’s value to consumers with the main purpose of selling or promoting that brand, product, or service to them (O’Kane, 2011: p37). The marketing mix is a set of actions or a strategy used to promote a…
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Critically examine Kellogg's Marketing Mix and how it can gain and/or increase its competitive advantage in the market
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Extract of sample "Critically examine Kellogg's Marketing Mix and how it can gain and/or increase its competitive advantage in the market"

Download file to see previous pages tion, and interpretation of information concerning a product to be offered in a specific market, market segmentation that involves division of a target market into various consumer subsets, and the product life cycle that refers to the stages through of a service or product’s life span in relation to sales and promotion (Kerin et al, 2013: p51).
Kellogg’s is a multinational food manufacturer founded and headquartered in the United States (Kellogg Company, 2011: p38). The company was founded in 1906 by Will Kellogg and produces convenience foods and cereals, such as toaster pastries, crackers, cookies, fruit-flavored snacks, cereal bars, vegetarian foods, and frozen waffles. The UK breakfast cereals market has experienced a growth of 15.6% in the last ten years, while breakfast cereals have become an integral part of the diet in the UK with some 52.1% of the adult population eating cereals for breakfast (Euromonitor PLC, 2013: p44). For Kellogg’s, however, their earnings or revenue has been falling over the past three years, slipping by 0.8% between 2012 and 2013 to $3.69, while its profits also fell from $352 million to $295 million in the same period (Prior, 2014: p1). Currently, the value of the cereals market in the UK stands at £1.1 billion, of which Kellogg’s has a market share of 42%, making it a market leader (Lanschützer, 2013: p1). Kellogg’s major competitors in the UK cereals market are Weetamix Company, Weight Watchers, Nestle S.A., and General Mills. Finally, Kellogg’s has several advantages in the cereals market, including strong brand awareness, economies of scale, being a market leader, customer loyalty, product differentiation, and brand acceptability and presence (adbrands.net, 2013: p1).
When organizations such as Kellogg’s are assessing a change to its marketing strategy, one of the most helpful strategies is to consider the marketing mix’s 4Ps and its four elements of product, price, place, and promotion. The product element ...Download file to see next pagesRead More
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