KELLOGG'S CASE STUDY
Nowadays, market consists of different segments each with a distinct set of needs and wants by targeting the market and setting a market position. As ready to design a strategy that suits a chosen market segment and market place, marketing mix is a set of tools at the disposal. Marketing mix defined as controllable marketing variables that an organisation blends together to produce the response it wants from the target market. (Sudhir Andrews, 2009, p.24) The marketing mix is simplified by being referred to as the 4Ps which consists of decisions about product, price, promotion and place. There are also three additional Ps which is people, processes and physical evidence, but it's not very essential tools in the marketing mix. (“The 7Ps of Marketing n.d.”)(Kotler, Armstrong & Kotler n.d.) Through the marketing mix, a business needs to assists balance of the 4Ps to meet the needs of the client. For example, creating the right product with the right price to satisfy customer’s needs sold the products at the right place and used suitable methods of promotion. Products refer to the goods and services is a combination of a company offers to the target market the by the organization. (Armstrong and Kotler, 2007) A company should produce goods and service which satisfies the client’s needs. For a competitive approach, the company should supply products that are unique and meet client’s needs, wants and values. By maintains, the product uniqueness is difficult for a company because another competitor can match the same product. The company must often enough compete on price, place, and promotion. (Rea & Kerzner, 1997 p. 57) The product must benefit the customer derives from your product. Price, the amount of money the buyers are willing to pay to the product or service. The most important criteria are that clients usually use to compare when choosing between competing brands. (Ta and Har, 2000) Products were only worth as much as