This website uses cookies to ensure you have the best experience. Learn more

Marketing Essay

5209 words - 21 pages

[Innocent Cereal Bar]

Contents page

1. Marketing Objectives Page 3
2. Target Market
1. Introduction Page 5
2. The whole Organic food and drink market Page 5
3. Segmenting the Market Page 5
4. Description of potential segments Page 5
5. Applying criteria to potential segments Page 5
6. Customer Profile Page 6

3. Customer Perceptual Positioning Map Page 7
1. Introduction Page 7
2. Customer Preceptual Positioning Map Page 7
3. Key Brands Page 7
4. Main types of dimensions page 7
5. Constrcting The map ...view middle of the document...

After the first year of sales to have sales revenue at £19m

To break even after 3 years from the launch
This would be one of the main and one of the most important objectives to achieve; otherwise the company will not be making a profit and could go bust.
During the first three years we aim to achieve a substantial amount of revenue, which hopefully will be able to cover our overhead costs.
Our costs for production during the first year or so will be high, as we’re releasing a new product into the market. The capital investment will be high in areas such as marketing campaigns, transportation costs and also the core product itself. However after the product has established itself in the market, we will be able to see these costs decrease. Costs such as transportation and supplies will hopefully decrease as we will have formed relationships with suppliers and hopefully used distribution channels, which Innocent already obtain. Thus reducing the overhead costs.
With this said, it won’t be as straight forward to do, as some distribution channels and some suppliers may think we’re too much of a high of a risk to invest in, as the market is already saturated with Kellogg’s and UB sharing 41% of the market.

To achieve 9% market share within 2 year and try to achieve another 6% after 3 years.
We believe that this objective can be a realistic objective as the cereal bar will be associated with innocent, which already has 71% market share in the smoothies sector. Therefore with the cereal bar being branded with innocent, the former and current innocent consumers will stay loyal with the brand and try our new cereal bar, thus creating a larger market share for the cereal bar. Also as innocent has a large popularity and a large reputation within the UK for their products being healthy and ethnic, consumers from our target market would want to buy into it. Another reason to why we could possibly achieve 9% within the first 2 years is because we will be able to use innocent’s distribution channels, which will allow us to sell our products next to the smoothies, this therefore instantly allows us to be sold in specialist stores and also the large retail stores. This is a competitive advantage we will have over any other brand trying to release a new cereal bar product, as they would have to form relationships, while we already have an existing and strong relationship with many outlets.
We believe that once we have achieved 9% in the first 2 years, we will be able to achieve another 6% within 3 years. This is because, if the product has done well in the first 2 years, it will already have a moderate size of the market, which is only expanding at a rate of 2.2% per year. The market research shows that since 2006 the cereal bar market has expanded by 28%, reaching sales of £389 million in 2011. So with this said, the market is only expected to grow more, and we believe that the cereal bar will be at the forehead of the growth. If the brand is to...

Other Papers Like Marketing

Marketing Essay

683 words - 3 pages Marketing There are many definitions of marketing and there are also what other people think marketing is. I know for me I never fully understood what marketing was until I looked at other definitions of marketing. There is also importance to marketing when it comes to success. I think that marketing is very important when it comes to success because without marketing there would be a lot to question and companies would not exactly know

Marketing Essay

843 words - 4 pages Details of Assessment | Term and Year | 2, 2015 | Time allowed | 2 Hours | Assessment No | 1 | Assessment Weighting | 30% | Assessment Type | Written Response | Due Date | Week 5 | Room | 610 | Details of Subject | Qualification | BSB51207 Diploma of Marketing | Subject Name | Marketing Audit Report | | Details of Unit(s) of competency | Unit Code | BSBMKG515A Conduct a Marketing Audit | | | | | Details of


1326 words - 6 pages Marketing Research Paper Denise Guerrero MKT/421 Monday, October 5, 2012 Sheryl Joyner Marketing Research Paper To establish a successful business in a competitive market, a company must have an effective marketing team. The marketing segment of an organization is responsible for development and execution of a strategic business plan for future business opportunities. A constant essential in the appropriate development of a

Marketing - 1076 words

1076 words - 5 pages How does Marketing affect the Global Economy Introduction: Nowadays, the development of global economy is closely related to the Marketing which involves some professional behaviour to sell or promote the goods. There are no possibilities to push the economic growth without the strategies of the Marketing, on the other hand, the Marketing cannot be separated from the global economy. During the financial crisis, the amounts of global

Marketing - 699 words

699 words - 3 pages Defining Marketing for the 21st Century Chapter Questions      Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1-2 What is Marketing? Marketing is an organizational function and a set of

Marketing - 1112 words

1112 words - 5 pages Omar Rochell Marketing MKT/421 April 7, 2011 Nikki Jackson Introduction Marketing is exposed to someone every day, even when they do not seem realize it. Driving down the roads you see billboards everywhere and that is part of marketing. Logos people were on their shirts and signs in the middle or on the sign of football fields are all part of marketing. Even when a child is marketing themselves to their parents to borrow the car or

Marketing - 1085 words

1085 words - 5 pages UNIVERSIDADE DO VALE DO ITAJAÍ – UNIVALI ACADÊMICO: ÍTALO ZORZAN VELASQUES PROFESSOR: CAIO SANTANGELO Marketing Internacional Marketing internacional ou global marketing refere-se ao marketing executado por empresas transatlânticas ou fronteiras nacionais. Esta estratégia usa uma extensão das técnicas utilizadas no país principal da empresa. De acordo com a associação americana de Marketing o “marketing

Marketing - 1110 words

1110 words - 5 pages characteristics of a firm that would follow a marketing orientation. Marketing orientation is “a philosophy that assumes that a sale does not depend on an aggressive sales force but rather than on a customer’s decision to purchase a product; it is synonymous with the marketing concept.” • Unlike sales orientation, a firm would focus outward on the customers wants and needs. • The goal of a firm is to satisfy customers wants and needs and delivering

Marketing - 633 words

633 words - 3 pages Bette Smith's marketing plan is about a Chiropractic Center in Fremont, Nebraska. The plan outlines market analysis, recommendations, strategies and evaluation controls to establish Chiropractic business for the client. The plan submitted is poor in nature and has some specific problems and improvements in the designated marketing strategy areas. Lot of sections mismatched or misplaced and there are many problems in the case analysis. We have

Marketing - 773 words

773 words - 4 pages Marketing is the important and inseparable part of business function and its role of business is developing day to day. According to Kotler and Armstrong, although most people think that marketing is only selling and advertising, it actually is a mix of customer satisfaction and selling and advertising (Kotler & Armstrong, 2010, p.29). If marketers generate good customer relationships by satisfying the customer, they will sell easily. Therefore

Marketing - 4547 words

4547 words - 19 pages Marketing is defined by the AMA as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." [1] It can also be defined as "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". This replaces the previous definition

Related Essays

Marketing Essay 1324 Words

1324 words - 6 pages ~WELCOME~ Sunderland Business School University of Sunderland MBA MARKETING MANAGEMENT Module Code: PGBM 15 ~Module Introduction ~ ~Concepts of Marketing Management~ Presented by: Frankie Lim Frankie Lim L1 Module Introduction & Concepts of Marketing Management L1-1 Lecture Outline (PGBM 15) • Welcome & Getting to know each other • • Learning Outcomes Teaching & Learning Methods • • • • Assessment Methods Content

Marketing Essay 620 Words

620 words - 3 pages 2/28/2011 Creating a  Marketing  Marketing Plan Basic Layout Executive Summary External Analysis Internal Analysis l l SWOT Objectives Marketing Strategy Marketing Strategy Marketing Plan (4P’s) Budget & Controls 1 2/28/2011 Executive Summary Brief summary of the main conclusions, objectives, strategy, l i bj ti t t implementation and required budget. Executive Summary External Analysis Internal Analysis l l SWOT

Marketing Essay 834 Words

834 words - 4 pages Define Marketing Paper Nichole Heck MKT/421 February 26, 2015 Richard Theroux Define Marketing Paper Abstract In the modern business world, marketing is a vital part of the company’s success. Marketing allows consumers to view the different products, promotions and services provided by said businesses and gives them the ability to compare pricings, products and services. There are many different ways companies can market their

Marketing Essay 583 Words

583 words - 3 pages Marketing MKT 421 May16, 2012 Marketing Introduction In 2007 Senator Barack Obama from Illinois was running for president of the United States. Senator Obama used on and offline tactics to reach out to all sorts of audiences; do so with online and offline, and free and paid media sources. The more Obama’s messages spread the more voters identified with him. He had used resources to gain popularity that no other presidential