mvessay.com · Web viewAfter drafting the marketing strategy, according to Kotler (2010) and...

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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

Transcript of mvessay.com · Web viewAfter drafting the marketing strategy, according to Kotler (2010) and...

Page 1: mvessay.com · Web viewAfter drafting the marketing strategy, according to Kotler (2010) and Armstrong et al. (2014), companies continue with a marketing mix, a set of tactical marketing

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

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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

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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.

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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.

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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.

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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.

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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

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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.

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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

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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.

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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.

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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

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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:

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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.

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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

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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)

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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.

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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.

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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

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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.

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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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