week 8 business

Marketing Plan and Sales Strategy

Komal Salim

1

Denpec Marketing Plan and Sales Strategy

Introduction

Working worldwide in the nation, KoKoKrispies distributes rice krispies items. One of the fastest-production of quality Rice Krispies that are Halal in the nation is Denpec. This has given the business a fantastic opportunity to harness its customer base's brand loyalty to introduce rice that comeswith different flavors including vanilla, almond, chocolate, cocoa, vegan peppermint, brown butter, peanut butter and ppermint bark to meet various customer’s tastes and preferances. The marketing and sales strategy focuses on an analysis of the market developments brought on by the demand of good breakfast cereal snacks that are known for quality and different nutrients (Zhu & Gao, 2019).

Company analysis

According to a brand review of KoKoKrispies, the business produces rice that focues on meeting cinsumer’s tastes and preferences. Using the SWOT analysis from the previous assignment, the organization must also examine its key capabilities to determine whether it can compete in the global market. Although KoKoKrispies has several barriers to entry into the European market, there are particular prospects and possible future developments in Italy and the U.K. that support significant profitability. Through its internet and social media network channels, the business will promote its products and labeling as well as support it (Zhu & Gao, 2019). FTA would also demand a reduction in the amount of meddling with testing legislation (Zhu & Gao, 2019). However, KoKoKrispies has a solid reputation and is becoming increasingly popular in the breakfast production sector.

Market Segmentation

Geographical, demographic, psychographic, and behavioral segmentation are the accessible four criteria (Zhu & Gao, 2019). The customer segmentation criteria for the Beijing face mask market are shown in the following table.

Segmentation	Segment A	Segment B	Segment C
Demographic
Age	17-24	25-35	36-65
Gender	Male & female	Male & female	Female
Income	Limited income	High disposable income	Higher disposable income and wealthy
Geographic
Location	The U.S.A.	Italy	The U.K.
Psychographic
Lifestyle	Highly impacted by media, trends, the opinions of family and friends, and (e.g., Food tutorial onYouTube)	Like natural elements in the products.	Consider sticking to products that have been manufactured for a while.
Behavioral
Benefit sought	Find high production volumes that are suitable for the organization's revenue at affordable or accessible rates.	Cost-effective pricing. Choose luxurious stuff above commonplace products.	Devoted to a certain brand that serves its long-term and ideal goals.

Target Market

Segment B, or 25 to 35-year-old men and women with high availability incomes and primary residences, is the target market for KoKoKrispies' cereal. They should invest money on the company's high-end face masks since they include natural components that keep them looking good and shield them from food and nutirion issues, according to their tastes and preferences (Magalhes, 2020). The company's cereal will always accommodate their nutrition needs. This is due to the KoKoKrispies’ cereal beneficial, easy-to-cook, and calming characteristics, which make users feel at ease and secure as well as conscious of their diet.

Marketing Strategy

The focus of KoKoKrispies Marketing Strategy is often on improving and enhancing the protective lining of rice production. The cereal will be assessed in the marketing campaigns against the worldwide nutrition market.

KoKoKrispies may achieve its long-term goal by focusing on the marketing package's value-based prices and product and service quality components (Magalhes, 2020). The company's marketing department wishes to uphold its commitment to great value by maintaining the reliability and efficiency of its natural food products. Analyzing R&D and customer preferences can help with this. First off, the main advantage of KoKoKrispies is that it raises the bar for public nutrition aspects (Zhu & Gao, 2019).

Loyal Customers’ Service

Loyal customers will get a loyalty card to earn points per year. KoKoKrispies can have a free rice packages course with different personnel at a certain level. Furthermore, if customer approval is required, the company’s workers may request their email address or cell phone number. They will then track consumer service by using the rice packages capabilities as a point of concern, e.g., does the diet of the consumer against contracting the nutritional disease become better or not after using the KoKoKrispies cereal?

Pricing Strategy

Prior to entering the European market, the action sale approach was employed; the rice products will be exhibited on websites like eBay or Taobao, and prices will be utilized to calculate the actual market retail demand for different packages (Zhu & Gao, 2019). This is usually beneficial for the client's budget management and financial literacy. It should be kept in mind that the financial operational plan has a thorough investment procedure. Price reduction is used to carry out the consumer growth pricing policy (Magalhes, 2020). The business will swiftly lower the price and surpass competitors in attracting local customers. To maintain its standing as one of the industry's premium brands, it should continue to maintain a price that is greater than that of its rivals. Additionally, it will be planned to achieve short- and medium-term corporate objectives. Additionally, sales incentives are necessary to justify the entire sentence.

Key success factors	Descriptions
Positioning and relationship with the consumer	Cereal producers must constantly provide goods and services, forge and maintain strong relationships with customers, and satisfy market demands. Global consumers are generally looking for top-notch goods that satisfy their requirement for safety assurance from nutrition diseases such as Diabetes and Obesity. Thus, it is crucial that items are effectively positioned in the minds of consumers (Zhu & Gao, 2019).
Distribution channel	Three main sales channels for cereal products companies are attractive retail stores, spas, and online distributors.
Advertising	Advertising also has a big role in KSF. An effective and worthwhile technique of contact may also be made on billboards (such as those seen in metro and magazines). Additionally, press radio, newspaper and TV advertisements, as well as outdoor events, are beneficial.
Social media	Use of the most popular social media platforms, including Instagram and WeChat, for information exchange (Zhu & Gao, 2019). To interact with their clients, several businesses use this platform.

Conclusion

The worldwide market, and more especially the European market, is at the core of KoKoKrispies’ marketing plan and pricing strategy. The firm has chosen a specific product—rice as breakfast cereal—as its main marketing strategy to appeal to Italian men and women between the ages of 25 and 35. In order to achieve its short-, medium-, and long-term objectives, it will open stores in well-known Italian and British shopping malls and online shopping destinations, as well as build a variety of strategic stances. For instance, advertisements may be displayed on TV, retail websites, publications, and particularly healthcare websites that are primarily accessed by women. Valued clients would receive special incentives and perks.

Reference

Magalhães, M., Pereira, M., Cardoso, A., Cairrão, Á., & Figueiredo, J. (2020). Canvas marketing plan: How to structure a marketing plan with interactive value? In Handbook of Research on Emerging Technologies for Effective Project Management (pp. 158-168). IGI Global.

Zhu, G., & Gao, X. (2019). Precision retail marketing strategy based on digital marketing model. Science Journal of Business and Management, 7(1), 33-37.