Marketing Plan Cereal Bars - 3872 Words

Wake Up! Marketing Plan | January 17 2010 | Seminar Tutor – Hina Khan. | By James Craven, Katie Fortune, Rory Dunlop, Karl Dickey, Omar Farooq and Sarah Crawford | 1. Market Overview The cereal bar market in the UK in rapidly expanding. Bored with conventional approaches to cereal bars Wake Up bar aims to add extra value to an already popular product. The cereal bar market is now looking for extra ingredients in the bars to persuade customers on to that particular brand. 2. The current situation Market Needs Our target market has to find it easy to access our product; this can be established by increasing the supply chain so the product can gain shelf space in supermarkets and general stores. The market is helping people aged†¦show more content†¦The supermarkets have great market power, this could cause discussions concerning shelf space and margin pressure. There is also the concern of continuous attention on product innovation: package (colour) and composition (taste, ingredients) Swot summary The market is propelled by consumers’ hectic lifestyles and the growth in healthy eating. The British market is the largest European market for snack food, having munched its way through 268,000 tonnes of crisps. This may seem a large amount but it is a12% fall from 2002, the cereal bar market in 2005 had doubled, now valued at  £250 million. Forecasted growth for the next 5 years is 49% with a value of  £373 million. Clearly the SWOT analysis shows that our strengths immediately look certain to compete with the top brands and force competition due to our extra value and business competencies. Our weaknesses can definitely be tackled again by our ethical and organic foundation, with the logos and sponsorships that are complimented with our product as well as being a niche cereal bar manufacturer Wake Up has the underpinning values of a business ready to tackle this optimistic market even its weaknesses. Our biggest weakness at Wake Up is the Wake Up team itself; inexperience and unsuccessful promotion of the values we create are the toughest obstacles we face. According to a new report by Weetabix, the UK cereal car market is worth  £258M andShow MoreRelatedKellogg Company Research Tools1139 Words   |  5 PagesPhoenix Marketing Research – MKT441 August 17, 2009 Kellogg Company Research Tools Introducing a new product into the market can be a very challenging process for organizations with competing businesses of the same target market. 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