Table of Contents
3Question One Ã¯Â¿Â½
7Question Two Ã¯Â¿Â½
8Question Three Ã¯Â¿Â½
Marketing is not a one-night stand - it is a process. Marketing managers are responsible for a variety of activities that together represent the marketing process, Lamb et al (2008:24). He also mentions that the marketing process includes understanding the firm's mission and the role marketing plays in fulfilling that mission, setting marketing objectives, scanning the environment, developing a marketing strategy by selecting a target market strategy, developing and implementing a marketing mix, implementing the strategy, designing performance measures, evaluating marketing efforts, and making changes if needed, Lamb et al (2008:30).
Kotler and Keller (2009:131) mention that effective marketing research follows six steps shown below:
Define the problem and research objectives
Develop the research plan
Collect the information
Analyze the information
Present the findings
Make the decision
Kellogg's is the world's leading producer of cereal products and convenience foods such as cookies, crackers and frozen waffles.
Its brands include Corn Flakes, Nutri-Grain and Rice Krispies. Kellogg's strategy is to focus on products and brands that are either the market leader or in a strong second position the company believes that this focus upon core and successful products enables it to provide consistent and reliable returns and rewards for its stakeholders. When Kellogg's investigates a change in its marketing it considers the 4P's or the marketing mix, the 4P's are:
Special K was already a well-established brand; its full potential had never been reached. Special K was viewed as a stand-alone product, and Kellogg's had not created any variants or brand extensions to develop the core product. Although Special K was a successful product, Kellogg's recognised the opportunity to stretch the brand by investments that would:...