mvessay.com · Web viewAfter drafting the marketing strategy, according to Kotler (2010) and...
Transcript of mvessay.com · Web viewAfter drafting the marketing strategy, according to Kotler (2010) and...
TABLE OF CONTENT
EXECUTIVE SUMMARY.............................................................................................................3
I. INTRODUCTION....................................................................................................................4
II. COMPANY’S OVERVIEW....................................................................................................5
III. MARKET POTENTIAL......................................................................................................7
1. Market needs.........................................................................................................................7
2. Market trends........................................................................................................................8
3. Market growth......................................................................................................................9
IV. STP ANALYSIS.................................................................................................................12
1. Segmentation......................................................................................................................12
2. Targeting.............................................................................................................................12
3. Positioning..........................................................................................................................13
V. MARKETING MIX...............................................................................................................15
1. Experience instead of product............................................................................................15
2. Everyplace instead of Place................................................................................................16
3. Exchange instead of Price...................................................................................................17
4. Evangelism instead of Promotion.......................................................................................19
VI. RECOMMENDATION......................................................................................................21
VII. CONCLUSION...................................................................................................................21
REFERENCES..............................................................................................................................22
TABLE OF FIGURES
Figure 1- Calbee's overseas sale in 2019 (Calbee, 2019)................................................................5
Figure 2 - Calbee's revenue in the UK in 2019 (Calbee, 2019).......................................................6
Figure 3 - Ansoff's Matrix (Tractionwise, 2019).............................................................................7
Figure 4 - Calbee's cereal products (https://www.calbee.co.jp/en/products/).................................8
Figure 5 - British people responds to health movement (The Crimson Hexagon, 2016)................9
Figure 6 - Expenditure on bread and cereals in the UK (The Statista, 2020)................................10
Figure 7 - Calbee's position in the ready-to-eat segment...............................................................14
Figure 8 - British people's online activities (The Creteo, 2017)....................................................16
Figure 9 - UK Grocery Retailing in 2016-2021 (The Creteo, 2017).............................................17
Figure 10 - Anderson's User Experience Hierarchy of Needs (Twitter).......................................18
EXECUTIVE SUMMARY
The purpose of this research is to propose a market development plan for cereal
products by Calbee, a Japanese snack food manufacturer. With the philosophy of
“harnessing nature’s gifts”, “bringing taste and fun” and “contributing to healthy
lifestyles”, Calbee has successfully spread its reputation all around the world with
product lines of high standards. Remarkably, Calbee cereals have topped the chart of
Japan’s No.1 Cereal Brand thanks to its organic ingredients, exceptional taste and
readiness for use. Simultaneously, in the UK, the trend towards healthy and convenient
meals has expanded throughout recent years. In this case, these key features of Calbee
cereal products could potentially satisfy British consumers. In fact, Calbee has already
operated business in the UK’s market since 2015, yet it has just provided three snack
brands. Understanding the demand of British consumers as well as seeing an opportunity
for Calbee cereals to develop its market size, this research has three main objectives.
Firstly, the potential of the UK’s market would be evaluated in terms of market size,
market growth and market trends. Secondly, this paper would conduct a Segmentation,
Targeting and Positioning analysis to find the probable position of Calbee cereals in
British cereal map. After that, a marketing mix would be developed for Calbee cereals to
reach these potential customers. By collecting secondary data from previous research
about the cereal industry and the UK’s market, the research uses a mixture of marketing
analyses to form this market development plan.
I. INTRODUCTION
Calbee is considered to be the top ready-to-eat food manufacturer in Japan with a
70-year history of continuous innovation. By following a consistent philosophy to
maintain the balance among nature, the product quality and human health, the company
has gradually adapted the business to several periods and multiple regional markets.
Noticeably, Calbee cereal products, which were first introduced in 1991, have contributed
significantly to the company’s portfolio. According to Calbee Report 2019, Calbee
gained the top share of the domestic cereal market in Japan.
Considering these attributes of Calbee cereals, they are potentially a match for the
food consuming movement in the UK. Based on data provided by Kantar World panel
(2018), health benefits are the top criterion when it comes to making decisions to buy
food and beverage products in general and to buy breakfast cereals. Besides health
credentials, British consumers are seeking food with natural origins, environmental
friendliness and convenience. Since cereals account for the majority of breakfast healthy
choices among British people, Calbee would potentially serve their demands with high
satisfaction.
To design a market development for Calbee cereals in the UK, this research, firstly,
measures the potential growth. Next, an STP analysis is conducted. Then, this paper
proposes a marketing mix to help Calbee approach potential customers and provide the
highest customer satisfaction.
II. COMPANY’S OVERVIEW
Calbee is the leader in the ready-to-eat food market in Japan with two main product
lines: snacks and cereals. According to Calbee Report 2019, snacks produced by Calbee
impressively made up for 54.7% of domestic snack market. Together with snacks, Calbee
cereals, first manufactured in 1991, constituted 37.9% in the Japanese cereal market.
Following the domestic success, Calbee expanded its business to ten foreign countries
with diversified products. Within seven years from the fiscal year of 2012, the overseas
sales of Calbee have grown nearly six times.
Figure 1- Calbee's overseas sale in 2019 (Calbee, 2019)
In 2015, Calbee started its snack business in the UK with the initial operations
taking place in North Wales. Reported by the Calbee Group UK Limited, after three years
of significant growth, the firm eventually acquired Seabrook Crisps to maximise its
market penetration plan. Currently, there are three lines of Calbee snacks distributed in
the UK, which are Yushoi, Harvest Snaps and Seabrook. In 2019, its total sales in the UK
was 4.2 billion Japanese Yen, equal to approximately 32 million British pounds.
Figure 2 - Calbee's revenue in the UK in 2019 (Calbee, 2019)
Nonetheless, Calbee has just introduced snack products to the UK's market. In light
of the ongoing trend about health awareness and environmental concerns, there is an
opportunity for Calbee to develop the market of its cereal lines.
III. MARKET POTENTIAL
In Calbee’s perspectives, cereals are considered to be existing products. As cereals
have not yet been introduced to the UK, this country represents a new market for the
products. According to the Ansoff Matrix, to find a new market for existing products, the
Market Development strategy is applied.
Figure 3 - Ansoff's Matrix (Tractionwise, 2019)
This research refers to some guidelines of Berry (2004), who suggested that a
market analysis needs to consider three elements, which are market needs, market trends,
and market growth.
1. Market needs
Considering the market needs for food, there has witnessed notable changes in
customer needs these days. Food products no longer serve basic needs only, which is to
eliminate hunger. When it comes to cereals, consumers attach the products to many
aspects of their lives. For example, people look for some types of cereals when they are
on a diet when they lack time to prepare breakfast or even when they want a substitute for
popcorns while watching movies. Calbee could potentially serve these needs with its
diversified range of cereal products.
Figure 4 - Calbee's cereal products (https://www.calbee.co.jp/en/products/)
2. Market trends
Firstly, the health revolution has taken place in the UK, which even penetrated in
multiple aspects of life among citizens. In the UK Consumer Trends Report, the Crimson
Hexagon (2016) shows an upward trend of people talking about dieting and exercising.
Figure 5 - British people responds to health movement (The Crimson Hexagon, 2016)
British consumers are more demanding. They may question about nutrient content,
processing method and the origin of the ingredients. Therefore, companies who can build
a health-oriented image will have higher chances of gaining consumers’ preferences. As
for Calbee, this is an advantage as the corporation has proved its high quality and health
safety throughout 70 years.
Secondly, living a developed economy, British consumers are ready to look for food
products that fall in the premium segment. Consumers are also seeking for products
offering new values, regardless of price. In this case, Calbee’s distinctive Japanese style
products with high quality and high trust from international customers have both
functional and emotional factors to be suitable for the premium segment.
Thirdly, the convenience factor is also making a radical change among food
producers in the UK. According to Mintel (2018), more on-the-go cereal formats are
selected by working people. Consumers favour products which are instant, small in size
and have compact packages. Calbee could serve this trend by some of the small-sized
packaged cereal lines.
Additionally, the youth are now willing to try new food and have a habit of sharing
and reading reviews about what they eat. Hence, consumers with good reviews can be an
unpaid marketing department. Thanks to Calbee’s credibility, the company would earn
more trust from British customers.
3. Market growth
Mentioned in “Breakfast cereal market in Europe” report by the Statista (2020), the
value of the cereal market in the UK has undergone a slow but steady increase and
reached around 3.7 billion euros in 2019. Also, the Statista (2020) published the annual
expenditure on bread and cereals in the UK for 13 years, showing an overall upward
trend.
Figure 6 - Expenditure on bread and cereals in the UK (The Statista, 2020)
Notably, Lynch (n.d.) did research the cereal market in Europe and found out a
significant potential in the UK cereal market. Though Germany has the largest population
in the continent, the UK’s consumption of cereals is still higher. Slow but steady growth
in the UK market reflected a greater size and maturity, compared to other European
countries. By zooming in cereal market throughout a decade, the period witnessed no
fluctuation, proving a sustained growth.
Moreover, according to the PwC UK (2020), the purchasing power of the British
citizens, in general, is on the increase. The report indicated that 75% of British consumers
expect higher spending compared to the previous year.
IV. STP ANALYSIS
1. Segmentation
As mentioned in “Breakfast Cereals Market Research Report – Forecast to 2023”
by Market Research Future (2020), the cereal market could be segmented on several
bases such as source, packaging styles, regions and distributing channels. Considering the
competitive advantages of Calbee’s cereal products, this paper segments the market based
on usage, including three main types: ready-to-eat cereals, whole grains, bran cereals
with added sugar, and muesli.
2. Targeting
In this case, Calbee will target the ready-to-eat segment. Moreover, since having
cereals for breakfast has become familiar to British customers, Calbee aims to penetrate
the mass market in the long run, yet focus firstly on the urban markets with diversified
distribution channels.
Calbee cereals’ product attributes suit three types of users. First, to find out the
product users, the research asks the question “Who uses ready-to-eat cereals the most?”.
The answer is children (aged from 3 to 10), teenagers (aged from 11 to 19) and young
adults (20-35). Besides product users, the actual buyers also need to be identified. The
answer to the question “Who can make buying decision” is the millennials (aged from
20-35). They have the financial power to buy cereal products for themselves and their
little children (if having).
As a result, Calbee will target two groups: Millenials and a part of gen Z (aged from
15 to 20). The focused location will be urban areas with big cities such as London,
Birmingham and Manchester. Health awareness and environmental protection are the top
two social concerns of these two groups. They are also active on social media and
respond quickly to new trends. Considering their buying habits, at these ages, they are
willing to spend to try something new. Notably, according to the Criteo (2017), Online
Grocery transition has happened drastically in the UK.
Here are some highlighted characteristics of targeted customers. They buy cereals
from themselves and for non-financially capable ones who depend on them. A majority
of them are considered as "connected spender", who have internet access and use it to
research before making purchasing decisions. They are savvy consumers with adequate
income for discretionary spending. They are on the cutting edge of consuming trends.
Moreover, they have a taste for premium products.
3. Positioning
Since the UK is a mature market of cereals, there are various types of cereals
offering to the consumers. As for the ready-to-eat segments, consumers are among a
variety of choices. They could go for some cereal bars of Fitness (Nestlé) or Special K
(Kellogs). They may also try granola of Dorset Cereals or Jordan (ABF Grain Products).
Noticeably, cereal packages in the UK are usually fixed in size.
To serve formats and sizes, Calbee cereals are positioned in the ready-to-eat
segment as follows:
Figure 7 - Calbee's position in the ready-to-eat segment
From the positioning grid, it could be seen that Calbee products lie in 3 out of 4
quarters. This indicates that Calbee can not only serve the existing products but also
introduces a new combination of features in the ready-to-eat segment. Within the
company’s portfolio, the majority of cereals belong to the right side, granola. The granola
style, though serving the ready-to-eat need, still brings the vibe of a meal, while the bar-
style resembles a snack or fast food. Notably, the top Calbee cereal line, Frugra, is the
only product produced in granola form with multiple sizes. More sizes provide
consumers with more choices, ranging from a 50-gram pocket for a light meal to an 800-
gram pack for family use. This position shows a competitive advantage of Calbee’s
Frugra that it brings convenience and keeps the meal concept at the same time.
V. MARKETING MIX
After drafting the marketing strategy, according to Kotler (2010) and Armstrong et
al. (2014), companies continue with a marketing mix, a set of tactical marketing tools.
The 4Ps framework has long played a key role in the successful marketing strategies of
many firms. However, since in the present age, consumers are the ones controlling the
market. Gradually, the mainstream has gone to one-to-one conversations implementing in
customer-centric processes. Therefore, this research proposes a marketing mix using 4E's
approach. Ikechi et al. (2017) stated that the 4E’s approach is a proactive measure to
reach customer satisfaction.
1. Experience instead of product
By defining experience instead of product, the focus shifts from the product features
and functions to the entire experience of the customers.
To bring the best customer experience, a brand needs a comprehensive understanding
of the consumers. According to the aforementioned analysis, when it comes to food for
breakfast, British consumers have three main concerns: health and nutrition, convenience
and environmental awareness. With Calbee cereals, customers could rest assured due to
high standards of safety and healthiness. Trustworthy ingredients source and strict
manufacturing process is the key to solve their health concerns. Furthermore, as ready-to-
eat products, Calbee cereals reduce cooking time. There is a wide range of flavours and
sizes to increase convenience in many circumstances. For example, a teenager can have a
small-sized Calbits Frugra pocket for a quick breakfast, then have a bowl of Frugra
Chocolate Crunch & Banana while watching movies with her family at night. Also,
consumers could go for Granola Plus Calcium when they need a higher intake of this
substance.
It is advisable that Calbee implement some small changes to its cereal products to
leverage customer experience. As British consumers have a high awareness of
environmental issues, paper packets (instead of plastic ones) are a recommendation.
Calbee should also add a zip to the pocket so that users could save the remaining cereals
for the next time of use, instead of wasting them. Another suggestion relates to the
packaging design since the Japanese and the British have different aesthetic concepts.
According to Rundh (2005), packaging can make a difference for several consumer
products.
As a whole, the experience with Calbee cereals includes health, nutrition, time-saving,
wide choices, elegant design and environmental responsibility.
2. Everyplace instead of Place
By applying Everyplace instead of Place, brands develop an integrated cross-channel
presence considering customers’ entire purchase journey, not just the purchase locations.
Since Calbee has distributed snacks in the UK for five years, the company can utilise
the existing distribution to bring cereals to consumers. Calbee will also negotiate with
retailers and wholesalers for major shelf spaces for cereal products. Consequently, cereals
will be sold in supermarkets (Tesco, Asda, Sainsbury’s, Morrisons, etc.), convenience
stores (7-Eleven, Mayfair Food Fayre, etc.). In the long run, Calbee may work with third-
party distributor networks such as restaurants, offices, schools or cinemas.
Additionally, online websites should also be purchasing points of Calbee cereals. The
e-grocery, the trend of buying food products online, has become popular.
Figure 8 - British people's online activities (The Creteo, 2017)
According to Creteo (2017), it is estimated that UK Grocery Retailing will increase by
68% in value in 2021.
Figure 9 - UK Grocery Retailing in 2016-2021 (The Creteo, 2017)
3. Exchange instead of Price
The Exchange approach understands that the firms’ profit is made of not only money
but also time, attention, effort and engagement. Therefore, the Price should articulate
customer benefits rather than considering production costs and expenses.
To analyse customer benefits while using Calbee cereals, this research uses the User
Experience’s Hierarchy of Needs by Anderson (2011). This model is usually applied to
digital innovations, yet it is also a valuable tool to measure customers’ benefits.
Figure 10 - Anderson's User Experience Hierarchy of Needs (Twitter)
As for “Functionality”, Calbee cereals serve as tasty food for breakfasts.
Considering “Reliability”, these cereals are produced by a prestigious manufacturer,
Calbee, the biggest snack company in Japan. Also, Japanese brands, in general, have
always had a high reputation and are widely trusted.
Analysing “Usability”, the cereals could not only be used for breakfasts but also be
enjoyed in a variety of scenarios such as watching movies, friends’ hang-out, birthday
parties, etc. These extra uses are due to a diversified portfolio and the balanced taste
among ingredients.
Moving onto “Convenience”, as packaged food products, Calbee cereals do not
require cooking. Consumers could enjoy their meals anytime, anywhere.
As for “Pleasure”, the product not only provides fun feeling while eating but also puts
the consumers’ mind at rest because of its safe and healthy ingredients.
Considering “Meaning”, the cereals help to solve several concerns. Parents who care
about nutrition for kids but do not have much time can find the answer here. Friends can
find a healthy substitute for popcorns or snacks in their get-togethers. Calbee cereals do
connect people.
With these values, Calbee deserves being defined as a premium brand. The Price for
an 800-gram package would be set at 30 British pounds.
4. Evangelism instead of Promotion
The Evangelism approach focuses on the inspiration, positive communication and
brand advocates, instead of repeating the presence of the product.
This project aims to establish a push marketing strategy, which proactively reaches
and sells to customers. This strategy has two main objectives. Firstly, it will build a brand
image and raise brand awareness to British consumers. British consumers are expected to
be impressed by Calbee as a high-quality Japanese brand whose priorities are customers’
taste, environmental friendliness and healthiness. The second goal is to gain product trust
by connecting Calbee cereals to consumers’ demand. Based on the competitive
advantages of Calbee cereals, this campaign will promote this key content message:
“Calbee cereals can meet diverse tastes as a snack always do, yet be healthily nutritious
as food should be, and bond people as a meal is capable of.”.
The evangelism deployment plan refers to the Learn – Feel – Do model suggested by
Prasad (1971). The campaign will comprise three stages.
a. Stage 1: Learn
In this stage, the brand answers the question: “How should customer understand of
Calbee and its cereal products?”. The objective of this stage is to build a brand image
with flavour enhancement, consumers’ health protection and social contribution. It is
indirectly promoted via related contents about the values it embraces. The campaign
attaches the product with three keywords: “tasty”, “healthy” and “happy”.
The content angles that the “Learn” stage will cultivate are the knowledge about
consumers’ concerns and a clear and consistent image of Calbee and the cereals. Key
activities here are advertisements via OOH and digital base, and mass media with product
highlights on e-newspaper and magazines. As for OOH media, according to Jun et al.
(2016), brands should carefully consider locations.
b. Stage 2: Feel
The key question of this stage is “What are customers’ feelings of Calbee’s cereals?”.
The main focus here is to instil positive feelings about products in customers, leading
them from interest to desire. The content angles will follow the cultural trends of British
customers closely, creating a self-connected, eco-socially responsible and desirable image
for the cereals. This stage will deliver the statement that a wise consumer will take
Calbee cereals for the long-term sake of themselves and the people they care. Besides
maintaining OOH and digital ads, Calbee will look for KOLs and words of mouth with
review contents. According to Bughin et al. (2010), VOM marketing is influential, trusted
and representing consumer’s own experience.
c. Stage 3: Do
After educating consumers in two previous stages, this stage will urge them: “Buy
Calbee cereals!”. The objective here is simply facilitating the buying process of
customers, making it quick and easy. In this stage, the brand needs to maximise the
distribution channels as at the moment customers think of the product, it is within their
reach, whether on the Internet or at stores.
VI. RECOMMENDATION
The UK’s cereal market is potential for Calbee to expand its business operations. It is
a mature market with a steady pace of growth, ensuring sustainability in the long run. By
understanding customers’ behaviours and consuming trends, Calbee could exploit its
competitive advantages to conquer this market. This project designs a marketing mix,
using 4E’s approach, to direct the brand to reach its customers. Meanwhile, there are
some limitations to this project. Some figures are based on estimations, which could not
reflect the complete picture of future trends. Moreover, as this plan focuses mainly on
marketing aspects, Calbee’s financial situations and shareholders’ direction have not been
taken into consideration. Also, to strengthen the strategies, the execution should be taken
steps by steps, combining with continuous assessment. Future success also involves
changes at the right time.
VII. CONCLUSION
In conclusion, this report did research the opportunity for Calbee cereals in the UK’s
market. Evaluating statistics from recent years and trends of the near future, the cereal
market in the UK is an attractive chance for Calbee to expand its business. The market
trends also support the potential success of Calbee cereals. Calbee should target the
ready-to-eat cereal segments and maximise its competitive advantages as granola cereals
with multiple sizes. The marketing mix that Calbee should apply is a set of diversified
experience, multiple-points of purchase, a premium price with worthy values and an
inspiring evangelism plan with meaningful messages. Besides researching marketing
aspects, this report suggests that the brand should also consider other business features
such as finance and shareholders’ relationship.
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