Weetabix Marketing and Advertising - Coursework Example

Weetabix Part Background Based in the UK, Weetabix is one of the oldest manufactures of breakfast cereal in the world (Phillips, 1974). Its foremost strength is anchored on the fact that it has launched highly successful advertisement campaigns in past years that no rival has managed to match. From a practical perceptive, the company may or may not have the best products in the market; nevertheless, its innovative marketing strategies have effectively placed it at the top of the industry for several decades. Although critics have questioned why it has not been as aggressive as other firms concerning product innovation have, Weetabix argue that their products have proven capable of standing the test of time; therefore, the company has more to gain by boosting its popularity than by trying to change the product. Objective of Weetabix Marketing Kellogg has overtaken Weetabix over the past years in terms of sales; thus, one of the main objectives of launching the advertising campaign is to get back its market dominance. In the last 3 years, Weetabix has expanded its market and product distribution to North American and Asian markets in which it has invested over $ 20,000,000 (Barnett, 2012). Therefore, the key objective of its marketing campaign will to back up its new investment with marketing strategies to reign in new customers. Adverts in the UK market are designed appeal to the “Britishness” of the brand in order to attract local customers and retain their loyalty in the face of foreign competition. Weetabix is targeting to increase its distribution chain to cover over 80 target markets with the UK accounting for 70% of its revenues. Further, it is targeting double-digit percentage growth outside the UK mostly through its Weetabix and Alpena brands. Main Communication Brief Communication brief objective is to outline a new face for the brand, so that it acquires a distinct identity and personality geared towards its promotion and marketing in the contemporary global market (Weetabix Ltd, 2007). The brand is trying to market itself as a wholesome and an all-inclusive universal product – one that can be used by anyone irrespective of his or her status, career or age. Its breakfast products can be used as the first food for a baby and still be consumed by an executive before he or she leaves for his or her office, or even by a manual labourer. Retrospectively, Weetabix has carried out highly effective campaigns through which they have promoted various aspects of their product such as its energizing potency for children, using break dancing ads and even appearing in a spoof of the Michael Jackson thriller video (Marsh,2001). These series of “neat weet” ads were replaced by Howard who initiated different series of ad titles such as ‘Have you had your Weetabix yet?’ There were also adverts based on elements of British folklore and social situations. In a particular, a popular one from the early 90’s Robin Hood is shown abandoning his quest for maid Marion when he sees the Sheriff of Nottingham eating his favourite cereal (Marketing Magazine, 2012). Communication is meant to increase customer loyalty since for the past two years; Weetabix has been lagging behind Kellogg: the supplier of Nestle, and other competing products. This communication is meant to show customers that Weetabix is a lifelong companion and they can depend on its nourishing power throughout their life irrespective of their age or career. In addition, it is portrayed as both delicate enough to be fed to a new-born and yet powerful enough to fuel the energy needs of executives and even manual labourers. This message is expected to excite the customers and make them feel a sense of loyalty and identification with the product. The overlying message is that Weetabix can be shared amongst everyone at home, making it look more wholesome and universal; therefore, uniting and strengthening the family unit. Given that communication is based on the product’s diversity and its capacity to transcend demographics and social status, adverts by covering a universal spectrum actively target both youthful and older consumers (Schefter, 2000). However, it is expected to mostly affect the already subscribed customers because it renews their sense of loyalty for the brand which they feel is taking care of them in a wholesome way and renders the pursuit of alternatives unnecessary (Huang,2011). When it comes to purchasing a product, customers are motivated by several factors such as efficiency, reliability and suitability. Consequently, since Weetabix is in the fast food industry, target audience will be attracted by its capacity to provide one’s nourishment needs consistently without having to change or upgrade with age. Brand Imperative The key features that the brand wants to put across to its customers are its consistency and wholesomeness; wherebt, the competitive advantage is tied it being one of the oldest manufactures of cereal and it has generations of experience (West, Ford & Ibrahim, 2010). This augurs well with the assertion that its product are made to last a lifetime. Further, it provides a sense of authenticity that only tried and tested products have. The implied generational consistency makes the brand to stand out among its rivals, since they lack the experience that Weetabix enjoys in the market. The Key message for the brand marketing strategy is that: “We are with you and your family throughout every moment of your life irrespective of the direction it takes”. Creative direction The desired response will be stimulated by using innovative and creative adverts that transcend generational gaps just as the product is designed to. Consequently, the media strategy for this digital period should be diversified since the targeted age groups access different media. For example, the internet is an excellent platform to host adverts targeting the youth and middle-aged professionals. TV on the other hand, can be used to target the elderly and pre-teens since they all make a significant contribution to the market (Khatibi, 2007). Evaluation of the campaign will be based on the increase in sales of the product both in the short and long term. Furthermore, each media of advertising as well as the overall idea will be evaluated and assed on its effectiveness according to the proportionate increase or decrease of sales closed among the specific target group. http://www.weetabix.co.uk Part 2 For any advertising campaign to be successful, planning is essential; it is therefore critical that the company lays out an effective strategy before they attempt to implement the marketing efforts. This will done through a variety of steps organized such that the implementers can have an effective blueprint from which to launch their strategy. The initial step is to develop and review the business plan, which encompass marketing objectives, financial support websites as well as making a time plan for the company’s objectives. Secondly, the firm should consider where they should place the advertisement, since every day new adverts appear in various media ranging from online to billboards, flyers and many others (Boukili, 2008). Weetabix will have to evaluate carefully the best setting for marketing their product; in their case, they should investigate precisely where their primary targets can access their adverts. Therefore, adverts should be placed where their primary audience are most likely to view it; nevertheless, it is worth noting that at the end of the day there is no single best method of advertising and in some cases what works for one may not work for the other (Boukili, 2008). Therefore, as the firm considers the most suitable method, they should also settle for the method that fits their advertising goals and is most cost effective providing the results while remaining within budget (Khan, 2012). Organizations should also carry out cost benefit analysis before they launch an advertisement campaign, this way they can effectively plan how much money should be set aside for the marketing process (Schwager, 2007). They should also estimate how much the process of advertising is likely to earn the company in both the short and long term; afterwards, they should then determine how much of the estimated gains should be allocated to the marketing process to ensure the cost does not exceed the benefit. A SWOT analysis is also very useful in examining the projected strengths weakness, opportunities and threats that face the marketing endeavour. It is a major strength depicting the product as an enduring and consistent source of nourishment, Weetabix will likely attract customers who wish to have a reliable, tried and tested breakfast cereal (Gelder& Woodcock, 2003). The fact that the marketing strategy may be criticized by the competition for being static and inflexible to change, may be termed as one of the weakness although the timelessness of the concept is its main selling point. Since the product is already popular is a key opportunity for the company since their target client base is already likely to be loyal. Finally, there is threat of new entrants to the market, these firms offer a competing range of products and Weetabix must strive to ensure their marketing strategies surpass those of the competition given that at present they are already struggling to regain the top position from Nestle. References Weetabix Ltd. 2007"Weetabix Range" theres now an even bigger range of Weetabix cereals for you to try, including Weetabix, Weetabix Gold, Weetabix Minis and Weetabix Organic." Available at:http://www.weetabix.co.uk/brands/weetabix/ marketing magazine. 2012. GREAT BRITISH BRANDS: Weetabix - A more conservative brand than most, Weetabix often returns to its central body fuel advertising. http://www.marketingmagazine.co.uk/article/154792/great-british-brands-weetabix---conservative-brand-than-most-weetabix-often-returns-its-central-body-fuel-advertising Barnett, M. 2012. Weetabix ups ad spend by 46%. Marketing Week. Available at:http://www.marketingweek.co.uk/news/weetabix-ups-ad-spend-by-46/4000350.article Boukili, A. B. M. 2008. Brand Management Process: How to Build, Measure and Manage Brand Equity Case study: McDonald’s, the Fast Food Super-Brand. Gelder, D., & Woodcock, P. 2003. Marketing and Promotional Strategy. Oxford; Nelson Thornes. Huang, W. 2011. Effects of promotion on relationship quality and customer loyalty in the airline industry: The relationship marketing approach. African Journal of Business Management Vol.5 (11). Khan,S. 2012. International Journal of Management and Strategy. International Journal of Management and Strategy. (IJMS) 2012, Vol. No.3, Issue 4, January-June 2012 ISSN: 2231-0703 Khatibi, A. H. A. 2007. The impact of internet marketing on customer satisfaction. A study Malaysian perspective. Journal of Mobile Communication 1 (1) 29-35. Marsh, H. 2001. Breakfast Giants Feed Change. Marketing. Phillips, C. 1974. The Winning Ways Of Weetabix. Industrial Management & Data Systems, 74(2), 20-22. Schefter, R. 2000. E-loyalty your secret weapon on the web. Harvard Business Review. Harvard Business Review Schwager, C. 2007. Understanding Customer Experience. Harvard Business Review articles. West, D., Ford, J., & Ibrahim, E. 2010. Strategic marketing: creating competitive advantage. Oxford; Oxford University Press. Read More