Mergenthaler mkt325 1203 b-02 ph 1 ip
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This document discusses the Special K cereal brand. It was introduced in 1956 as a lightly toasted cereal made of rice and grains. Special K markets itself as a low-fat, healthy option and has expanded its product line. It targets women ages 20-45 who are health and shape conscious, especially moms. Special K promotes weight loss and a healthy lifestyle through fitness tips, challenges, trackers and giveaways. It promises support, convenience and quality products to empower consumers in their health and weight loss goals.
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Mergenthaler mkt325 1203 b-02 ph 1 ip
- 1. A Special Recognition for Special K MKT325-1203B-02 Consumer Behavior Fundamentals Phase 1 Individual Project Sabrina Mergenthaler Colorado Technical University Online Professor Justin Rudick August 27, 2012
- 2. •Lightly Toasted Cereal •Introduced in 1956 •Rice and multi grains • Low-Fat •Variety of products •The Special K Challenge •Fitness Tips •Giveaways •Trackers
- 3. •The Red Dress Campaign •Women •Health-conscious •Shape-Conscious •Moms •Age:20-45 •Serious about weight loss
- 5. •Promises of Special K •Support •Convenience •Quality •Popularity •Challenges •Contests •Giveaways •Gatherings •Awareness •Family-friendly •Empowering •Solution to cravings Different, Relevant, Esteemed, Known
- 6. •Three C’s -Competition -Consumers -Change •Developing strategy for Improvement •Roll with the times •Establish a bigger market
- 7. Brand Asset Valuator. (n.d.). 12manage. Retrieved from http://www.12manage.com/methods_brand_asset_valuator.html Buyer Types. (n.d.). M.U.S.E. Consumer Behavior Fundamentals. Colorado Technical University. Retrieved from http://coursebuildercontent.careeredonline.com/Assets/30000/23199.pdf Consumer Behavior and its Role in Marketing. (n.d.). M.U.S.E. Consumer Behavior Fundamentals. Colorado Technical University. Retrieved from https://campus.ctuonline.edu/courses/MKT325/p1/hub1/3298.pdf Evans, M., Jamal, A., Foxall, G., (2009). Consumer Behaviour. 2nd ed. Pg. 26. West Sussex. EN. John Wiley & Sons Ltd. Publication Special K. (n.d.). Retrieved from Special K. (n.d.). Retrieved from http://www.specialk.com
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- Introduction Marketing does not create needs, rather it exploits need that already exist. In the same light, manufacturers of goods and services do not sell products, but rather provide benefits to consumers. For this reason, it can be said the relationship between manufacturer and consumer is crucial to the survival of the brand. In order to enhance the relationship it is necessary for brands to demonstrate their potential to satisfy basic consumer factors. Marketers are the translators that clarify the factors and how brands meet them (Evans, Jamal, & Foxall, 2009). In fact, marketers have a variety of tools in order to study consumer behavior, their reaction to the factors, and to assist with making decisions about promoting goods and services (Consumer Behavior, n.d.). Tools such as the brand asset valuator (BAV) have been designed to measure all of these factors. In placing measurability on a brand, marketers are more able to match consumers to the products and services providing the benefits they need (Evans, Jamal, & Foxall, 2009). Throughout this presentation, we will apply the use of the BAV to the Special K Brand. We will use this tool to indicate the target customer, and the benefits of reaching this consumer. By the conclusion of this presentation, viewers will have a more in-depth understanding of the tools available to assist marketers with reaching target audiences; as well as the importance of such tools in influencing buyer behavior.
- Describing the Brand Made primarily from rice and multi-grains, Special K is a lightly toasted breakfast cereal produced by the Kellogg Company. Making an appearance on shelves in grocery stores around the United States in the 1950s, the brand has since become an identity of its own. Providing consumers with a healthy dieting alternative, the brand is marketed as a low-fat cereal capable of decreasing waistlines by six pounds in as little as 2 weeks. The diet—known by “The Special K Challenge”—is a strict regimen of eating products under the Special K brand throughout the day; including replacing two full meals with a serving of Special K cereal (Special K, n.d.). Not only does the brand advocate weight loss through a meticulous diet plan, but it provides consumers with valuable fitness tips; healthy eating tips; giveaways for health and fitness products; and tools for tracking progress—all of which can be found right on the box! Despite all that is available on the box, the manufacturers still leave plenty of space for the nutritional information, and brand flair. For example, Kellogg’s clever use of the color red is carried throughout the Special K product line for easy recognition by consumers. Where there’s a red K—there’s something healthy to be purchased. The brand even carries their color out on the town with their regular challenge contest—Dare to Wear Red; where women are challenged to fit into sexy red dresses (Special K, n.d.).
- Describing the Target Customer With red dresses as part of their campaign, it goes without saying that this cereal is not marketed to men. Instead, the Special K brand focuses on women. Particularly, the brand focuses on women between the ages of 20 and 45, who are looking to achieve a type AB body shape. These women may frequent the gym, or go out for a jog on a regular basis. They are wager to get back into size five and smaller jeans. Ideally, these women may have a child or children—which is a big part of why they want to lose the weight to begin with. The target for this brand has a taste for the sweet stuff, and may have difficulty giving up treats in general. That’s part of the reason why the cereal flavors are focused on various fruits, chocolate, vanilla, and yogurt. The moderate price of Special K makes it less of a cereal for the frugal mom—unless it’s on sale and she has a good coupon. For the most part, though, this cereal targets women who are serious about their weight loss goals; and women who are willing to pay a little more for a meal plan that will get the job done. The benefit for these women—especially if they have children—is that Special K is good for kids as well.
- The Brand Asset Valuator With the congestion of the market, marketers must study consumer behavior to assist in making decisions about promoting goods and services. In developing an profound knowledge of personalities, habits, and shopping patterns of consumers, marketing agents can better predict how and what customers will purchase, thereby allowing more effective marketing strategy to be achieved. There are many areas which influence consumer behavior, such as individual personality, family, friends, reference groups, social class, culture, and subcultures (Consumer Behavior, n.d.). Though consumer behavior plays a pivotal role in the distribution of products and services, other factors may contribute to the buying behavior. These factors are often referred to as the four pillars; and indicate the product’s differentiation, relevance, esteem, and knowledge. Marketers use the BAV (brand asset valuator) tool, designed by Young & Rubicam, to measure a brand’s potential by how well they satisfy the factors. Based on the results, marketers can use the information to enhance the brand in order to satiate the needs of consumers (Brand Asset Valuator, n.d.). Using the tool, marketers place a measure to a brand’s: Differentiation- the ability to be distinguished from competitors. Success in differentiation is obtained by offering uncommon promises to consumers and by delivering on those promises (Brand Asset Valuator, n.d.). Relevance- the actual and perceived importance of the brand to the market segment. Tied to household penetration, the relevance of a brand gauges the personal appropriateness of the brand (Brand Asset Valuator, n.d.). Esteem- the perceived growth and popularity of the brand by consumers. Variable by country and culture, this factor measures consumers response to quality and popularity of the brand. It begs to answer: does the brand keep its promises (Brand Asset Valuator, n.d.)? Knowledge- the extent of the awareness and identity understanding of a brand by consumers. Consumers demonstrate an intimacy with the brand when their level of awareness of the brand is high (Brand Asset Valuator, n.d.).
- Special K’s BAV and Connecting Consumers Without a doubt, Special K makes some big promises to women—after all, women can workout everyday for two weeks and not lose a single pound. In some cases, they can work out that long and come out weighing more. Special K demonstrates an understanding for this target audience of women who want to meet their weight loss goals, but does that make them so different? However, the brand really begins to stand out—not because of what it promises—but because of the support it lends as well. Let’s be honest, there’s thousands (if not more) of companies offering weight loss in a manner of time, with meal plans, and tips. How many of those companies, though, are found right in every grocery store (and even some gas station marts)? Special K delivers on making a promise and making itself available to the consumer for support and convenience. To some degree, one could argue that because of the market’s saturation with weight loss products, Special K fails to meet the relevance factor. However, consider for a moment the value in losing six pounds every two weeks. How many other brands are promoting such a loss? How many other brands have a full line of meals and snacks available so effortlessly? More importantly, how many can satisfy that craving for something sweet without busting a whole day worth of effort? Special K makes it way into the household because it satisfies the relevance of these questions, and also doubles as an affordable, healthy, kid-friendly cereal. Especially true in America—where obesity plagues the populace, and women are particularly thwarted by the concept of eye-appeal, the Special K brand meets the esteem factor. Constantly demanding response from consumers through contests, challenges, and giveaways; the brand ensures it’s survival by delivering on promises and showing other consumers just how easily those weight loss visions can be met. Special K tells women they can get into the sexy red dress, they can be empowered to have the body they desire, and Special K provides women all the tools to accomplish those goals. Due to the nature of the brand’s relationship to consumers and the advancements made to food products (and continuing to be made), Special K has been around since the 50s and will without a doubt continue to be around for another 50 years. Popularity is not the only thing going for the Special K brand, though. Consumers have come to appreciate the quality in which Special K uses to promote its brand. In providing an unlimited variety that holds to a satisfying taste, consumers have come to trust the brand—not only in being a good cereal, but in having staying power. This critical concept is one that many consumers in the weight loss segment can depend on. As noted earlier, there are many companies today that haven’t been around, that haven’t been interested in the weight loss goals of women. Special K promoted weight loss before it was cool to do, and before it became a massive piece of industry earnings. For this reason, consumers have seen the truthful results, and trust the Special K brand.
- Conclusion Companies today are subjected to operating under surmounting pressures. These pressures are known as the three C's: competition, consumers, and change. Companies have been fighting for customers for decades. Companies treat customers like royalty to lure them to buy goods and services. Finding and retaining customers is a critical success factor for most businesses (Buyer Types, n.d.). Special K is not unlike any other company. For these reasons, Special K must continue to identify with the needs of its target audience, and deliver on promises. Its long and healthy standing has greatly contributed to Special K’s success, however, as time progresses; advancements occur; and obesity becomes a larger issue throughout the globe, the company will require to make adjustments to stay ahead of competition and to gain more customers. Such changes will include a stronger connection to consumers—possibly through enhancing their products with exercise DVDs, or offering more rigorous coaching and consulting. Buyers love convenience; and tapping into the simplicity of purchasing Special K, by providing more easy access tools (just for buying cereal and snacks) will certainly build that relationship with consumers. Special K should address its relevance, however. In this case, a full market penetration would make this brand “for-all.” Men need to lose weight, too. Men are becoming more sensitive (in a feminine way). They are developing the same cravings for sweet stuff. Men should be able to enjoy a bowl of Special K, though without feeling emasculated. When Special K recognizes the reach for a masculine population, they can develop their relevance and mark their permanent place in the household.