Marketing Strategy

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Marketing Strategy CB683 - Individual Assignment Market opportunities for breakfast cereals is vast, some segments of the market have been neglected, most notably that of the over-50’s. Insightful presentations were given at the “Older, Richer, Wiser” Conference that would suggest the over 50’s market segment is targetable. 1. Nestle and other breakfasts Cereal Company’s all too often sacrifice potential segments of the market to target one specific group, in many cases; small families and children. The front page of the Nestle website features a banner stating “Click to learn more about the new recipes of your kids favorite breakfast cereals” (Nestle). It is understandable therefore why as the RIAS Presentation suggests over 50’s feel “patronized” (RIAS) a view supported by the Millennium slides, which comment; “55% [of over 50’s] believe marketers treat them in a patronizing way.” (Millennium) An alteration of Nestlé’s advertising, packaging and consumer perception is essential, if they are to target the over 50’s. As the RIAS presentation suggests “Provide choice” (RIAS) perhaps in a variance of products, and show that Nestle “listen to customers” (RIAS) will see successful penetration of the over 50 market segment. Of course with any age group not everyone who populates it will be a firm consumer of the product concerned. Evidence suggests however that the over 50’s could be a profitable target audience. Studying consumer behavior Kellogg’s quite rightly stated over 50’s behavior suit breakfast products, commenting 65+ year olds “Spend longer on breakfast” (Kellogg’s) emphasizing that breakfast does feature if not more in the over 50’s market segment than others. Economics also determine the potential of this market s... ... middle of paper ... ...ns is necessary to widen their target audience, as at the moment it is sacrificing almost 30% of its potential market, however this is easily achievable. Works Cited 1. Nestle, Nestle Home Page [online], Available from: www.nestle.com Accessed: 11/11/2013 2. Oliver Shaw, Sales & Marketing Operations Director, RIAS (29th May 2008), Older, Richer, Wiser. Accessed 11.11.2013 3. Fiona Hought, Managing Director, Millennium. (May 2008), Older, Richer, Wiser. Accessed 11.11.2013 4. Kellogg’s – Falling in love with the over 60’s (N.D.). Accessed 11.11.2013 5. Business Case Studies, (N.D.) Marketing theory, Product Life Cycle, [online] available from: http://businesscasestudies.co.uk/business-theory/marketing/product-life-cycle.html#axzz2kNk6Hsjn 6. Wikipedia, Marketing Research [online], Available from: http://en.wikipedia.org/wiki/Marketing_research Accessed: 11/11/2013

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