Kellogg’s® Special K® Target Market Report Essay
Kellogg’s® Special K® Target Market Report
As we know breakfast is one of our daily meals, it is the first meal of the day. However come to this modern era we eat out the lifestyle to makeup our breakfast itself more enjoyable and healthily. Due to the sufficiency alimentation contain in the breakfast cereal, nowadays most of the people are concentrate on it as taking it for breakfast. In this report, I’m going to segment on breakfast cereal industry base on the combination of geographical, demographic, psychographic and behavioral variables. I would like also select one product from the industry itself and describe how the product is positioned. The product that I have been chosen is Kellogg’s – Special K, which is manufactured by The Kellogg Company itself.
1.0 Segmentation Theory
Segmentation as known as a process of distinguish buyers which differ in several ways into groups regarding to their needs, characteristics or behaviour. Market segments exist within feckly market. As a marketer, they have to try to different segmentation variables, alone and in combination to find out the best and most meaningful way to identify and analyze the market structure so it is more easily for marketer to achieve in business market ( Kotler. P et al.2006, 218 ). A seller will create a separate marketing program for each buyer as classifying according to their personal preference. Market segmentation comes before the second step and third step, which is market targeting and market positioning in develop idea of targeting market. There are four main major variables to observe in order to analysis consumer market segments, which is:-
( i ) Geographic segmentation
Geographic segmentation will be analysing the different geographical such as region, city size, population density and climate. Firms will decide to progress their market into region as one or a few geographic variables according to the geographical differences.
( ii ) Demographic segmentation
Demographic segmentation consists of identifying which variables which include age, gender, family sizes, family life cycle, income, occupation, education, religion and nationality. Demographic segmentation is the most popular element for segmentation analysis as consumer wants and demands are observe throughout the demographic segmentation ( Kotler. P et al.2006, 230 ).
( iii ) Psychographic segmentation
Psychographic segmentation are divided into different groups based on socioeconomic, status, values, attitudes and lifestyle grouping and personality. Basically, psychographic segmentation is used to combine with others segmentation variables as to analysis consumer market segments.
( iv ) Behavioural segmentation
Behavioural segmentation that enables buyers to group which are purchase occasion, benefits sought, user status, usage rate, loyalty status, readiness stage and attitude towards product. Behavioural variables also trusted as the best starting point to identify the market segments.
As mentioned, segmentation is the element for attempt targeted market and effective marketing plans. Thus, a clear picture and a detailed analysis for the market segments enable a firm to decide the marketing strategic in particular segments. Furthermore, a firm can also benefit from the multidimensional approach to market segmentation and the affiliated benefits are included better matching of customer needs, enhanced profits for business, better opportunities for growth, retain more customers, target marketing communications and lastly, gain share of the market segment. Eventually, a firm definitely will benefit from the multidimensional segmentation as they adopted it.
2.0 Target Market Identification
Kellogg’s® Special K® is a lightly toasted, lightly sweetened rice cereal, high in flavor sort of breakfast cereal. Basically, it contains 7 fundamental vitamins and minerals which are essential nutrients that be supposed to contains in our breakfast.
2.1 Geographical traits
Target market for the product Kellogg’s® Special K® are basically stressing on the urban city zone. Busyness lifestyle that implement by the residents result in none alimentation breakfast taken as their very first meal of the day. Targeting on this particular issue, Kellogg’s® Special K® are especially made-up for the urban residents. As we known, breakfast cereal can be taken rapidly and Kellogg’s® Special K® absolutely satisfy the time lacking issue in pragmatic lifestyle. Furthermore, sufficiently vitamins and minerals contained in Kellogg’s® Special K® intent to replenish to the residents who lack of nutrients to go with daily activity. Currently, Kellogg’s® Special K® is not only purchasable in nationally but also internationally and it considered as an internationalization’s breakfast cereal.
2.2 Demographic traits
Basically, Kellogg’s® Special K® is designed for women who want to take the first step at breakfast to help manage their shape, yet there’s no gender, age, life cycle, occupation, education, religion and nationality barrier. Kellogg’s® Special K® can be consume by everyone who is concern overall condition in health, and this product especially recommended to the senior citizens and the busyness urban residents as it helps on boosting their metabolism. Nevertheless, the Kellogg’s® Special K® product can only purchase by those who have higher income as it is sort of the luxury breakfast cereal and it definitely suitable for urban residents as most of them receive a high wages.
2.3 Psychographic traits
Kellogg’s® Special K® consider as a luxury product as it cost $16.40 for each and it is much suitable to consume by buyers who have a higher wages. Urban residents are wealthily and Kellogg’s® Special K® fits them well as the consumption for their breakfast. Therefore, regarding to the study of VALS lifestyles, it involves study that measuring consumers’ main AIO dimensions, which is activities, interests and opinions. Kellogg’s® Special K® is the higher level status product and it is most probably consume by those who are the higher and medium class in socioeconomics, which have luxury income and affordable for Kellogg’s® Special K®. Kellogg’s® Special K® consumers are human being who concern to live out an outstanding, healthy and enjoyable lifestyle. They consume Kellogg’s® Special K® as result in they attach importance to the essential vitamins and minerals, which are important as part of a balanced meal.
2.4 Behavioural traits
People who consume Kellogg’s® Special K® is much concern to health if compare to the others. Fundamental and various kind of vitamins and minerals become the major element of the consumption of Kellogg’s® Special K®. In this compressive stressed century, people are too busy until there is insufficient time for them to take a breakfast. Yet, they need a product which sufficiency provided them the nutrients to start up their daily activity, and this is the purpose Kellogg’s® Special K® made for. Most of the consumers reckon that Kellogg’s® Special K® gives the essentials of a breakfast and they trust in taking Kellogg’s® Special K® is way better instead of eating the breakfast which prepared by themselves. Indirectly, it forms a bound between the consumers and product, which is loyalty to the product. They trust, purchase and consume on Kellogg’s® Special K® as Kellogg’s® Special K® can lead them to an ideal lifestyle.
3.0 Visually Representing the Target Market
Kellogg’s® Special K®
As we can notice from the packaging of Kellogg’s® Special K®, every single word on that particular packaging has been returned in English language printed on it as English is the common language in Australia. Besides that, English also cognizance as the international language in this century. Eventually it shows that the target market for the product Kellogg’s® Special K® is differentiated into a lot of geographic variables all over the worldwide.
As mentioned, Kellogg’s® Special K® is sufficiency alimentation contained and it’s an excellent source of 7 vitamins and minerals. Thus, the target market for the product Kellogg’s® Special K® itself is people who require abundance daily nutrients regardless to gender, age, life cycle, occupation, education, religion and nationality barrier. Kellogg’s® Special K® contains just 17% sugar, meaning that one 30g serving contains just 5g per bowl, around 1 teaspoon – this is much lower than that contained in other breakfast foods and half that contained in toast with jam (Special K Original. 2009)! It is also 99% of fat free and especially recommended to the women, who keen to kick start to healthy weight management. A great deal in protein will also give them a boost to their metabolism. A malty taste plays a important role to allure their appetite as consuming an enjoyable breakfast. A perfect health weight management
Nowadays, woman and ladies intend to manage their body shape and live out a healthier lifestyle. As we can see from the packaging, a 99% of fat free definitely will attract the consumption by woman, as it is a simple and convenient weight management program. The K letter itself shows in artistic form to inspire the picture of a prefect body shape to the consumer. Besides that, a well looking packaging of Kellogg’s® Special K® designed to deserve the purchase cost. It is also shows the ‘snob effect’ as consume it because it is one of the luxury breakfast cereal. All of these have been shown in the pictures of the part of psychographic traits.
Most of the consumers have the some thought towards Kellogg’s® Special K® product, which is lead them to a healthier and better standard of health’s condition. The image of cereal which contains 7 fundamental vitamins and minerals will provide sufficient nutrients to the consumers to kick start their brand new day. It helps to form a healthy body by providing the essential nutritions as what written in the nutrition information panel.
Kotler, P. Adam, S. Brown, L. and Armstrong, G. 2006. Pearson Education Australia. Principles of Marketing: Analyzing consumer market segments.
Kotler, P. Adam, S. Brown, L. and Armstrong, G. 2006. Pearson Education Australia. Principles of Marketing: Market targeting.
Market segmentation – Why segment markets?
(Accessed September 1, 2009)
Special K Original
http://www.kelloggs.co.uk/whatson/specialk/forum/nutrition/our-products/special- k-original/9230/view-topic.aspx (Accessed September 1, 2009)