Nestle Koko Krunch

Equipment List for Department of Art

Marketing 100 Unit Outline

10850 Marketing 100 Summer 2012-2013SA/TM ID Report Cover Sheet

Name: WENDY HONG WEN LINStudent Number: 16709791Tutors Name: Jeffrey QuakTutorial Day: ThursdayTutorial Time: 9.00am-12.00pmStudent Comments to Lecturer/Tutor (if any):_________________________________________________________________________________________________________________________________Please read the following and electronically sign where indicated:

Declaration: I declare the attached assignment is my own work and has not been previously submitted for assessment. This work complies with Curtin university rules concerning plagiarism and copyright. (Refer to www.policies.curtin.edu.au/documents/unit_outlines-plagiarism_state.doc for copyright and plagiarism information. I have retained a copy of this assignment for my own records.

Electronic Signature of student: Wendy WenlinRecorded Mark:____________________________________________________Lecturer/Tutor who marked: __________________________________________TABLE OF CONTENTS

Contents

3Situation Analysis/Target Market Identification Report for Nestl Koko Krunch(KK)

31.0Situation Analysis/Current Marketing Mix

31.1Current Product

41.2Current Price

51.3Current Place

61.4Current Promotion

72.0Segmentation Theory

72.1Define and explain segmentation

72.2Three benefits to Nestl Koko Krunch (KK) from using segmentation

83.0Target Market Characteristics/Images/Rationale Table

164.0Reference List

18MARK ALLOCATION: Situation Analysis/Target Market Identification Report Feedback Form

Situation Analysis/Target Market Identification Report for Nestl Koko Krunch(KK)1.0 Situation Analysis/Current Marketing Mix

1.1 Current Product

KK satisfies the consumers physiological needs in order to survive for personal consumption (Waddell, Jones, and George 2011, 210). KK consists of B Vitamins, Vitamin C, Iron, Folic Acid, Fibers and is made with whole grain that can lower down the risk of diabetes, cancer and disease. Koala, the mascot of KK is easily identifiable to customers for quick purchases in convenience stores. The ingredients are accurately labeled to enable consumers on informal decision making on KK and all additives of KK are of plant origin. International organizations and federal authorities regulate all the food additives strictly to ensure that KK is safe for consumption. KK is branded as Whole Grain, thus it is vegetarian-friendly and the Halal by the Islamic Dawah Council of the Phils is another attribute to show that KK is safe for the consumption of Muslims. The country of origin and expiry date is shown to provide more legally required labeling information of the product to the customers (Elliot, Rundle-Thiele, and Waller 2012, 219). KK Company is strictly responsible for providing the country in which the product was manufactured on the product packaging accurately (Watson 2009). KK should not be eaten after the expiry date as the nutrient content may not be the same as declared on the label (Canadian Food Inspection Agency 2012). RESCUE MISSION game provides more satisfaction to the customers while consuming KK. Extra services such as contact numbers and email addresses are given to customers for easy communication between customers and KK Company for consultation if there are any problems encountered by customers. Different languages are labeled on the packaging for convenient to customers from different countries to buy the product. Cashiers at the retail stores also provide plastic bag to the customers for convenience and safety purpose so to avoid the product from being damaged. The many makes and models of KK, such as the school-pack KK as children can bring small packets of KK to school for consumption, thus parents will also purchase school-pack KK for the children. KK is a consumer product that purchased to satisfy a customers personal wants so consumers consume KK regularly and are available at most retailers, thus involve only little engagement of time for making purchasing decisions (Elliot, Rundle-Thiele, and Waller 2012, 219). KK is classified as staple product which usually not much promotion for KK due to inexpensive price (Elliot, Rundle-Thiele, and Waller 2012, 219). Customers will not accept other substitute product if customers cannot find KK as it is convenience product for customers. KK has been more than 5 years in the market of strong, consistent growth history in Singapore due to the uniqueness of its brand name Nestl Koko Krunch and brand logo which is a mother bird nestling two baby birds that helps foster the brand loyalty of consumers by its form of self-expression and status. The uniqueness of brand name and brand logo helps the consumer to identify specific preferred product for the reduction of purchase risk and to differentiate between KK and other cereal products and denotes its product quality to the consumers (Elliot, Rundle-Thiele, and Waller 2012, 219). Barcode and slogan GREAT CHOCOLATEY TASTE are distinctive aspects for KK to identify and differentiate KK from competing products (Elliot, Rundle-Thiele, and Waller 2012, 219).

1.2 Current PriceKK exists in monopolistic competition market where there are a lot of firms competing, but each firm has some control over the price charged due to the differentiated offers for different marketing segments on KK for profit maximization objective (Elliot, Rundle-Thiele, and Waller 2012, 219). In monopolistic competition, there is freedom of entry for new firms into the industry that any new firm is free to set up business for KK and each firm produces KK in some way different from its rivals, thus firms can raise its price without losing all its customers, though elastically demand given to the large number of competitor to whom customers can turn, this is known as product differentiation (Sloman 2006, 178). KK is elastic demand when a given change in price is accompanied by a large proportionate change in quantity demanded (Sloman 2006, 48). When a given change in price of a particular product is accompanied by a small proportionate change in quantity demanded of the product, this situation is called as inelastic demand (Sloman 2006, 48). The consumer demand for KK is elastic to the changes of price as there are many sellers in the monopolistic competition market though there is presence of product differentiation. Business costs such as fixed costs and variable costs are very important for the firms to determine the price of KK. Fixed costs are completely independent of output, and do not vary with the production level, such as the rent and council tax on premises that sell KK, insurance on business equipment and wages paid to administrative staff (Hutchings 2012, 20). Variable costs are directly related to the level of output and vary directly to the production level, such as sales commission of KK and the wages of cashiers and shopkeepers in the retail shops (Hutchings 2012, 21). Firms that sell KK are in profit-oriented aim which means the pricing strategy focuses on profit maximization whereby the condition is that the marginal revenue of selling KK must be equal to marginal cost of producing KK (Sloman 2006, 149-152). A profit-oriented pricing strategy is used by marketers in sales of KK alike to attain the maximize total net profit to increase sales volume at specific time period after all production and marketing costs are deducted rather than compete with competitors (Laura Barten 2012). The current price of KK is about the same as competitors prices. Consumers purchase KK based on the product image, features and quality other than just considering the price of the product, thus product competition and brand competition between KK Company and competitors occurred. Product competition means some products are broadly similar, but have different benefits, features and prices that distinguish them from competing products whereas brand competition is products which very similar and offers the same benefits, features and price to the same target market (Elliot, Rundle-Thiele, and Waller 2012, 50). KK company has already fostered the development of consumers brand loyalty with the products benefit on safe-consumer such as Halal logo, Whole grain logo, the expiry dates, the koala mascot, the games, to satisfy the consumers needs and wants; even the price of KK is also reasonable and affordable for regular purchase by consumers. In non-price competition, competitors focus more on promotions extensively of the product quality, local convenience, and customer service distinctively rather than considering lowering down the price of KK (Elliot, Rundle-Thiele, and Waller 2012, 267).

1.3 Current Place

Consumers buy KK indirectly through indirect channel by retailers to consumer which reaches geographical dispersed from the manufacturer to wholesalers and retailers, as it is more convenient to purchase KK from retail stores that are near to housing estate. Each manufacturer only has to go to intermediate, and then wholesaler distributes KK to the retailers, thus contributes to a more efficient and effective needs for consumers to purchase KK by reducing the necessity of transaction and more coverage of market (Elliot, Rundle-Thiele, and Waller 2012, 348). There are many locations where consumers can purchase KK and is known as intensive distribution. Elliot, Rundle-Thiele, and Waller (2012, 349) state that intensive distribution is an approach to the coverage of market that distributes products through every suitable intermediary for the objective of achieving mass-market selling of the product and KK is distributed at every place that people would usually and reasonably expect to find and purchase it which is known as the convenience goods-this is the purpose of intensive distribution strategy has many numbers of intermediaries of the intensive distribution (Elliot, Rundle-Thiele, and Waller 2012, 349). Consumers can purchase KK from supermarkets like NTUC FairPrice, Shop n Save and Cold Storage. Consumers want availability, undamaged goods and quality customer service for maximum satisfaction (Elliot, Rundle-Thiele, and Waller 2012, 355). The availability and frequently updated stocks on the latest information on the prices and expiry dates of KK in supermarkets makes it convenient for consumers to purchase, KK products are arranged in order on the racks of each supermarket and also plastic bags provided to the consumers to prevent the KK from damage, also the mutual respect between workers and customers, comfortable, air-conditioned and pleasant emotional environment for consumers to shop KK in supermarkets. KK Company has gathered the information of marketing channel function and distributed the marketing research and intelligent-source level of local knowledge on the consumer behavior in the particular location and KK is a consumer product which defined as product purchased to satisfy the personal wants of an individual (Elliot, Rundle-Thiele, and Waller 2012, 347). KK is a non-durable and perishable product as food product cannot last for a long time for storage as the nutrients oxidized after the expiry date, KK will spoilt and change its texture and change its texture become not tasty to consume. Intensity competition of the market, such as timeliness, minimal order effort and consistent delivery of KK by the wholesaler of the product also influences the distribution of KK to the market (Elliot, Rundle-Thiele, and Waller 2012, 364). Timeliness is whereby consumers can purchase KK at anytime because retail shops such as 24 hours 7-Eleven will never close. Consumer can purchase KK where ever place as the product is always on stock arranged in order on the shelves of the retail stores, the retail stores will never out of KK stock as there is a consistency of delivery by KK Company to the stores. Minimal order effort is defined as the lowest amount of order acceptable to a seller on a product, and also can be used in the purpose for consumers to purchase KK on an easy-basic, as such most of the retail stores are near to housing estate, consumers need not travel far to purchase KK, this is a situation of minimal order effort and is one of the benefits of consumers wants.

1.4 Current Promotion

Internet and newspapers are used by KK Company as marketing tools for sales promotion, sales promotion involves any incentive which is a basic benefit that provided by KK Company to encourage the sales force on KK and encourage consumers to purchase KK by changing the perceived price of KK temporarily (Elliot, Rundle-Thiele, and Waller 2012. 308). Promotion is a short-term business strategy to influence consumers behaviour where marketers can promote sales through neutralizing the competitive advertisings and promotions, holding current users and increase product usage (Elliot, Rundle-Thiele, and Waller 2012. 23). KK Company compares and promotes KK with the competitor product by advertising KK on Internet and newspapers. KK Company holds current users by offering discounts on normal pricing, bonus product on KK to satisfy the current consumers wants and needs. KK Company put effort on the creativity and innovation on KK with new ideas on increasing the usage of KK; KK provides nutrients and enjoyments on great tasty chocolate flavor and games for relaxation to the consumers. Newspaper advertising is effective on promoting KK as it has a mass audience coverage thus has better local market penetration, newspaper is distributed and sold every day and everywhere and tends to be cheaper than other media due to easy-production depending on number of variables, newspaper is good for repeat exposure to the consumers which is a vital element of effective advertising, thus can reach to possible non-readers who might be part of secondary target readers who otherwise have little access to other media. (Jaigansehv 2011) Internet is also an efficient marketing tool for sales promotion on KK as it is directed to a particular target market; especially mother is the main target market of KK (Elliot, Rundle-Thiele, and Waller 2012. 315). An engaging viral video on Internet about KK might reach potential customers who share it with their friends and creating awareness of KK to the public indirectly through the consumers; branding is an advertisement within a computer or laptop by browsing Internet on KK can build the brand of the product that owned by Nestl to foster the consumers loyalty to KK (Elliot, Rundle-Thiele, and Waller 2012. 315). Promotional message is used to deliver emotional appeal on consumers which link to the hedonic, experimental model (HEM) that suggests consumers often purchase KK in the pursuit of amusement, fantasies or sensory stimulation such as the amusement of games that promote by KK, and is in contrast with the consumer processing model (CPM) perspective that consumers is based on the evaluation of alternatives functionality and quality of the product like the ingredients of KK for making purchasing decision (Elliot, Rundle-Thiele, and Waller 2012. 314). All promotions send the same message to consumers by an integrated marketing communication (IMC) which combines and coordinates marketing communication to achieve consistent and effective message, the promotional approach is known as IMC (Elliot, Rundle-Thiele, and Waller 2012. 299). Consumers purchase KK more on their personal preferences and likings on the product as each individuals are having different lifestyle, slice-of-life and also based on the testimonial evidence of themselves on KK; preferences, likings and purchase are the themes of business objectives (Elliot, Rundle-Thiele, and Waller 2012. 59). The push and pull strategy is used to aimed at achieving the themes in business objectives, push is go after the intermediaries like retailers who push the sales figures to the customer of KK; and pull is focus communication on end consumer of KK to demand the product from the retailers, so if enough customers demand for KK, the intermediaries will then stock KK (Elliot, Rundle-Thiele, and Waller 2012. 309).

2.0 Segmentation Theory

2.1 Define and explain segmentationSegmentation is a marketing concept which divides consumers or potential consumers from the overall market set up into smaller subsets comprising of consumers with a similar taste, demand and preference in the comparable set of wants and needs that can satisfied by a marketing proposition distinctively, and is normally referred to as the 4Ps which stand for product features, price, service and distribution place, and promotion (Market Segmentation 2012). There are four types of market segmentation, which are geographical segmentation, demographic segmentation, psychographic segmentation and behavioural segmentation (Market Segmentation 2008). Market segmentation is aimed for the objective of target marketing on a particular product and services on the particular categorized group of consumers (Elliot, Rundle-Thiele, and Waller 2012. 181).

2.2 Three benefits to Nestl Koko Krunch (KK) from using segmentation

Geographical segmentation is defined as the current place of the primary targeted market for the sales of the product KK. By having geographical segmentation, KK Company has the advantage of market expansion whereby one the KK Company are being catered to a certain territory of market, the KK Company can then expand its territory to a nearby territory of the targeted market immediately (Hitesh Bhasin 2011). Demographic segmentation is defined as classification on consumers based on clearly identifiable characteristics of each of an individual so to diversify a large group of population in the current location into specific consumer groups (Hitesh Bhasin 2011). Demographic segmentation brings benefit on helping the KK Company to do market research on collecting and analyzing a great number of data in a shorter time and so to provide information to KK Company for sale promotion purposes of the current promotion on KK to the targeted consumers (Hitesh Bhasin 2011). Thus, demographic segmentation is very efficient and effective use for mass marketing (Hitesh Bhasin 2011). Psychographic segmentation is defined as the division of consumers into subsets from a large group of population based on the lifestyle of each individuals, consumers activities and interests (Hitesh Bhasin 2011). By segmenting the psychological aspects of consumers in their decision making on purchasing KK, KK Company will understand more on the needs and wants of the consumers on buying KK at retail stores and to keep track the desired wants of the consumers on the innovation and creativity of KK into more functional usage for the consumers. Thus, psychographic segmentation enhances the KK profits for business and creates a better growing chance of KK Company (Hitesh Bhasin 2010). KK Company understand that different individual have different circumstances, and the consumers circumstances changes when time passes by, consumers will grow older, consumers form families, consumers changes jobs or get a job-promoted, consumers changes their pattern on purchasing the product KK that appeal to them at different stage of life-cycle, KK Company can retain more customers who might otherwise turn to other competing products or brands by increasing the KK sales promotion on the current product or do more research and development on the current product KK for more advance promotion so to withstand the competitive pressure (Hitesh Bhasin 2010).

3.0 Target Market Characteristics/Images/Rationale Table

(This form is available in electronic form on Blackboard. Single spacing 10pt font can be used INSIDE the table.)Column 3.1: SPECIFIC Characteristics of your assigned brands primary target market AND explanation of why they are relevant to your product.Column 3.2: Image that illustrates characteristic given in Column 3.1 (Insert pictures below)Column 3.3: Explain how the image provided in Column 3.2 illustrates the characteristic provided in Column 3.1.

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C3.1.1SPECIFIC Characteristic:A country is the people of a nation that governed country by a political territory, and Singapore is a country which targeted by marketers of the products on goods and services.Explanation of why:Gross Domestic Product (GDP) in Singapore has enjoys the successful of contracting a 1.5% in the third quarter of year 2012 compared to the previous quarter (Singapore GDP Growth Rate 2012). A growth in GDP increases the purchasing power of the consumers on the product KK which had been marketed in Singapore for more than 5 years of history.

3.2.1

3.3.1This Is Home, Truly is one of the national songs of Singapore (Gerald Giam 2011). This song symbolizes that Singapore is a home for all nations in Singapore, home is a place where food, shelter for protection and love is provided to each individual in the home; and every home has its own wave of emotion that every member in it must take up the role of responsible in order to maintain the harmony and security of the home-the country, Singapore (Gerald Giam 2011).

SPECIFIC Characteristic:

A population is that all the individuals that inhabits a geographical area-country whereby a statistical sample data is collected from a research (Defining Populations 2012). A population grows by sexually reproduction of the members in it, the males and females interbreed to intergrades the population into a greater degree (Defining Populations 2012). Explanation of why:

The increasing populations of Singapore had been increased the sales of KK as the primary targeted market is on the children, mothers in household purchases KK when the children need the essential nutrients and minerals in KK for meals especially the morning breakfast cereal.

According to a research study, a statistic shows that there is an increase of 2.5% in the population of Singapore in year 2012 compared to the previous year (Singapore News 2012). The statistics also proved that there is more female than male from the 2.5% growth of the population, when the total of marriages increases between the male population and female population, there is likely that more children will be produced, thus total births of year 2012 will increase as well (Singapore News 2012). When the total births increases, the population of the country increases (Singapore News 2012).

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CSPECIFIC Characteristic:

Climate is referred as the average of humidity, temperature, sunshine, precipitation, wind velocity and other measurement on the elements of the weather which prevail characteristically in a country and is occurred over long period of time according to meteorological condition (Jeanne Ryba 2008). Explanation of why:

The climate in Singapore is warm and high humidity level and so the availability of KK in most of the retail stores and supermarkets of Singapore are in fully air-conditioned to prevent the KK product from perishes easily and that the product is more durable in time for consumption (Weather and Climate in Singapore 2008).

The orchid, Vanda Miss Joaquim is the national flower of Singapore, and it symbolizes that Singapore is a country with warm and humid climate because Vanda Miss Joaquim only can grow well under robust sun and heavily fertilized to provide the plant for its vertical support so the plant can grow taller and straight upright (Our National Flower 2012).


Urban means that a place where it is pertained to or it is located in a town or city, where the place is developing into metropolitan or emerging into a denser population of area by a group of nation in the country (Manali Oak 2012). Urban areas are tend to be technological advancement and deprived in luxury items, facilitated with modern amenities like Internet, satellite communication facilities, television, telephones, MRT and buildings (Manali Oak 2012).Explanation of why:

The facilities and advanced technology of Singapore helps the marketers and KK company on sales promotion of KK as marketing tools to the primary target market by advertising the product on newspapers and Internet (Elliot, Rundle-Thiele, and Waller 2012. 315).

The diagram shows that Singapore is a developed country, fully equipped with modern buildings, efficient transportation system and communication tools that each town is linked to one another, from China Town to City Hall, Somerset, Waterfront, Tampines and Simei via the bus service and MRT service of Singapore Mass Rapid Transport (SMRT) and also WiFi Internet system which is available in almost every corner in Singapore, this facilities helps consumer to purchase goods and services from where ever the consumer want.

Column 3.1: SPECIFIC Characteristics of your assigned brands primary target market AND explanation of why they are relevant to your product.Column 3.2: Image that illustrates characteristic given in Column 3.1

(Insert pictures below)Column 3.3: Explain how the image provided in Column 3.2 illustrates the characteristic provided in Column 3.1.

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C3.1.2SPECIFIC Characteristic:

Gender: Woman is commonly used to refer as an adult human female. Woman is normally characterized physically in feminine by having long haired, the facial make up, the dressings on clothes fashion with accessories such as necklace and earrings, and the sitting posture.Explanation of why: Working mothers are mainly targeted for the KK Companys market as working mothers are the decision maker for purchasing the product to the needs of the childrens consumption in the family.

3.2.2

3.3.2The image shows that an adult human female with long haired, clothed in a modern feminine dress suite with the accessories of necklaces, earrings and make up on lipsticks of her facial feature and with an elegant lady-like sitting posture which is categorized in the characteristic of a woman.


Age: Age is defined as a particular stage of life cycle in an individual existed life. Generation X which is individuals that born in the year of 1966 to 1976, or at the age ranging from 36 to 46 is one of groups targeted by marketers.

Explanation of why:

Generation X is the best educated age range of consumers as they are mostly bachelor-degree-holder. An individual which are highly educated and high maturity level tends to be more informative alerts in making decision of purchasing KK by analysing the ingredients and other information which are provided on the packaging of the product.

The image shows that five women in their age ranging from 36 to 46 and all are highly educated as so to be employed by DBS Bank company in manager status and senior staffs of the office.

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Ethnicity: Ethnicity is the identity of a group of individuals with different races, cultural, beliefs and languages. Explanation of why:

All ethnics in Singapore can consume KK as KK is vegetarian-friendly because KK is made of whole grain and KK is proven to be safe-consume food product for the Muslims, thus all ethnics are the target of KK marketers.

Singapore has a variety and wide diverse on the ethnicity of the population as the consumers can be classified into different races or religions, such as Malays, Chinese, Indians, Sikhs, Christians, Muslims, Buddhists, Vegetarians and others. The Whole Grain logo and Halal logo on the packaging has proven that the cultural and lifestyle of all different ethnics in Singapore are being considered by the food producer.

SPECIFIC Characteristic:Household Composition:Household composition is defined by the size of a family living together and is determined by the relationships between members of a family.Explanation of why:

When a household composition is large and with young children such as the situation of young married couples with young children in Full Nest I, the pester power of children is strong that parents purchasing decisions on KK are strongly influenced by the childrens needs and wants (Elliot, Rundle-Thiele, and Waller 2012. 123).

The picture shows that a household composition of a young married couple with five children, this is considered as a large size of household composition.



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C3.1.3SPECIFIC Characteristic:

VALS classification: Believers is one of the targeted market segments, and is commonly known as individuals who are slow and hardly to change the habits of their lives, always look for bargain, generally interest in reading (Elliot, Rundle-Thiele, and Waller 2012. 192).Explanation of why:Consumers who are in Believers category are more family and community oriented, individuals who has average income or modest mean, and brand loyalty to KK as believers are knowledgeable of the benefits of KK by reading, so believers will took short time for decision making on purchasing KK (Elliot, Rundle-Thiele, and Waller 2012. 192).

3.2.3

3.3.3Newspapers are one of the marketing tools for marketers to promote products as consumers who are in Believers category generally interest in reading that consumers can get the information of products being promoted in the newspapers.


Activities, Interests and Opinion(AIO) :Consumers choose the product that they prefer to purchase and consume based on the community that they are categorized in, the types of food they interested and the product benefits them the best.Explanation of why:Working mothers purchase Nestl Koko Krunch as breakfast cereal for their children to consume as KK is a healthy choice of food to consume because KK provides the minerals and nutrients such as vitamins and fibers that an individual needs for meal consumption.

Consumers need to consume the types of food that they are interested in to satisfy their basic needs of personal consumption in order to survive as food provides nutrients and energy to consumers.

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Roy Morgan Values Segment: Conventional Family Life is referred to as a responsive pattern from individuals who are into both family-oriented and personal values centred. Consumers who are in this category tend to seek stronger financial security and better living standard; they purchase a mixture of generic and branded product. (Elliot, Rundle-Thiele, and Waller 2012. 191).Explanation of why:

Consumers purchase both generic and branded product, KK is a generic product as the price of KK is inexpensive and affordable as KK is classified in consumer product and convenient product.

The image shows a young married couple with three children, the family who are into both personal and family values centred needs to balance up between financial aspects with living standards in order to support the children lives and the personal life of young married couple themselves a good quality of life without having severe financial problem.


Income: Consumers who earn medium income is targeted market of the product. Medium income is also known as average income, consumers who are in medium income category, they are in between wealthy and poverty life status.Explanation of why:

As KK is an inexpensive cereal product that medium incomers can purchase KK regularly for their morning breakfast to satisfy the basic needs of nutrients for their healthy lifestyle.

The identified targeted consumers in Singapore market are being categorized into medium incomers; consumers earn neither a great amount of money nor a very small amount of money per day.



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L3.1.4SPECIFIC Characteristic:

Usage Rate: Usage rate is defined as the quantity of a product being consumed or patronage over a specific internal period. Marketers need to study the research on usage rate of consumers on that particular product for sales promotion.Explanation of why:

The usage rate of consumers on KK is heavy as KK is an inexpensive and also good quality of health choice on morning cereal product.

3.2.4

3.3.4The pie chart shows that the percentage of users is higher than the non-users of the product after a market research by the company.


Awareness Status: Awareness is a measurement of a particular product or brand in the market. Firms normally set a degree of awareness as a target to attain the achievement of the sales on the product by having sales promotion plan and carry out the plan to reach out to the market and aim on the targeted consumers in the market.Explanation of why:

Consumers purchase KK based on their personal interest and preferences of KK by interested on judging whether the product is beneficial to them for regular consumption such as referring to the ingredient list of the KK that can provides consumers vitamins, fibers and other minerals which are essential for the consumers health.

.Consumers will only purchase the products that caught the attention of their eyes due to self-interests and self-preferences.

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LSPECIFIC Characteristic:

Brand loyalty: Brand loyalty means the relatively possibility of consumers turn to other brand when a change in of the price, features or quality of the particular product occurred. Consumers are loyal when they purchase a particular product on a consistent basis and is normally affected on the consumers preferences and consumer behaviour.Explanation of why:Consumers of KK are strong loyalty as they only requires a short time to make purchasing decision.

The image shows the words Extreme Faith which means the loyalty of a person to a certain thing.


Objectives: Objectives is referred as a goal to aim of an individual and often on based on the person own judgments without being influenced by facts represented on a particular matter or the feelings or opinion of the personal individual.Explanation of why:

Consumers purchase KK for the purpose of personal consumption for meal on breakfast cereal, a basic need for a start of everyday.

The bull eye symbolizes the objective or purpose of the consumer purchase on the particular product. The arrow-bullets that target on the bull eye represent marketers aim on the consumer behaviour by doing market research on the reasons of consumer decision making to purchase a particular product.

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Hitesh Bhasin. 2010. Six Reason For Market Segmentation. Marketing91.com-Marketing Tutorials and Marketing Concepts. Accessed December 3, http://www.marketing91.com/why-market-segmentation/Hitesh Bhasin. 2011. 6 Advantages of Segmentation. Marketing91.com-Marketing Tutorials and Marketing Concepts. Accessed December 3, http://www.marketing91.com/6-advantages-segmentation/Hitesh Bhasin. 2011. Demographic Segmentation. Marketing91.com-Marketing Tutorials and Marketing Concepts. Accessed December 3, http://www.marketing91.com/demographic-segmentation/Hitesh Bhasin. 2011. Psychographic Segmentation. Marketing91.com-Marketing Tutorials and Marketing Concepts. Accessed December 3, http://www.marketing91.com/psychographic-segmentation/Hutchings, Glenn. 2012. Accounting In Practice 2012. Australia: John Wiley & Sons Australia, Ltd.Jaiganeshv. 2011. Advantages of Newspaper Ads. Accessed December 2, http://www.warriorforum.com/blogs/jaiganeshv/14582-advantages-newspaper-ads.htmlJeanne Ryba. 2008. Whats The Difference Between Weather and Climate? NASAs Earth-Sun Science News Team. Accessed December 5, http://www.nasa.gov/mission_pages/noaa-n/climate/climate_weather.htmlLauren Barten. 2012. Definition of Profit-Oriented Price Strategy. Accessed December 1, http://www.ehow.com/about_6592703_definition-profit_oriented-price-strategy.htmlManali Oak. 2012. Urban vs. Rural Living. Buzzle. Accessed December 5, http://www.buzzle.com/articles/urban-vs-rural-living.htmlMarket Segmentation. 2012. the Market Segmentation Company. Accessed December 2, http://www.marketsegmentation.co.uk/segmentation_tmsc.htmMarket Segmentation: Meaning, Basis and Types of Segmentation. 2008. Management Study Guide. Accessed December 2, http://www.managementstudyguide.com/market-segmentation.htmOur National Flower. 2012. National Parks Board, Singapore. Accessed December 5, http://www.nparks.gov.sg/cms/index.php?option=com_content&view=article&id=79&Itemid=67Segmentation. 2000. Marketing Teacher.com. Accessed December 2, http://www.marketingteacher.com/lesson-store/lesson-segmentation.html#Singapore GDP Growth Rate. 2012. Trading Economics: Statistics Singapore. Accessed December 5, http://www.tradingeconomics.com/singapore/gdp-growthSingapore News. 2012. Spore Population Up At 5.31 Million, 82% Residents Live In HDB Flats. MediaCorp Channel News Asia. Accessed December 5, http://www.channelnewsasia.com/stories/singaporelocalnews/view/1228473/1/.html [need did]

Sloman, John. 2006. Economics. 6th ed. United Kingdom: Financial Times Prentice Hall. Waddell Dianne, Gareth R. Jones, Jennifer M. George. 2011. Contemporary Management Asia Pacific. 2nd ed. North Ryde N.S.W.: McGraw-HillWeather and Climate in Singapore. 2008. Guide Me Singapore. JANUS Corporate Solutions. Accessed December 5, http://www.guidemesingapore.com/relocation/introduction/climate-in-singapore

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