Marketing Plan for Breakfast Cereal Targeting Dhaka City Dwellers

Given the number of products available, the bargaining power of customers in this industry is very high. The two main drivers for customer’s preferences are quality and price, there is no service involved.

There are various influencing factors to consumers in their purchase process. Four factors which influence consumer behaviour are cultural factors, social factors, personal factors and psychological factors. In cultural factors various sub factors are like culture and social environment, sub culture, social class and cultural trends. Social factors also influence consumer behavior significantly. They are reference groups, family and social roles and status.

In the modern marketing world, consumers are classified in many types according to various criteria and characteristics, such as: gender, age, geographic area and individual customer behavior. In general, customer behavior and especially buying behavior represent the most essential element that sellers take into account when planning a marketing strategy.

A future marketing plan should focus on the product being sold as a family cereal in the morning as there is a growing segment that would relate to this. A report conducted by Ihekweazu (2011) looks into the eating habits of people within the UK. Stating that the sales of breakfast cereals has therefore been mainly driven by consumers demand for a cost effective and convenient breakfast options driven by a desire for a healthy start to the day. It was also found that ‘two thirds of consumers eat breakfast at home every day, rising to 78% of over-55s and 85% of those that are retired.’

In Bangladesh there have been many problems due to the small market and their extremely low cost. So for american companies like Walmart, H&M, Tommy Hilfiger,etc bangladesh is a goldmine because they produce quality work and at a very cost. Although with their low cost there is a high demand for their goods, which rushes the production process resulting in injury.

Weakness- A major foreseeable weakness OMG Active Cereal may encounter is that the cereal could be perceived by the public as just another “nutritious cereal”. There are many kinds of nutritious conscious cereals in today’s market produced by several different companies. Each year, a few more of these cereals are created and placed on each and every grocer’s shelves. A weakness for our newly released cereal could be that breakfast-eating consumers will group OMG Active Cereal along with the average nourishing cereals before eating or becoming cognizant of our cereal’s fantastic features other than especially served for the teenagers.

Kalin has established a good business that is not only providing consumers with the products they want but also at a reasonable price. Since the project started, Kalin showed initiative by offering the product to customers based on trust. The products were

Additionally, based on our research we can identify that we will focus on upper class and middle class more than lower class. Due to our high price, lower class can barely purchase our product Eximius because their income is lower. According to the Census Bureau states, the average that household spend per year is around $50,000US and $2,000US per household. However, our product Eximius would benefits upper class and middle

Consumer behavior is the most important factor which we need to concentrate. The more we understand this factor the more success for our business. In our case, we focus on the following elements:

2. Unique business model – expanding on the self-service trend with a unique twist and custom pricing options will be appealing to all consumers.

Culture is a major influencer in consumer purchasing. “These factors are often inherent in our values and decision processes” (4 major factors that influence consumer buyer bahaviour, n.d.). A person’s values are instilled on them by family, teachers, and other key people throughout their life. In most societies, there is social stratification or social classes. Those who share the same social class share similar values and behavior and have distinct product and brand preferences (Kotler and Keller, 2012, p. 153). Most buying decisions are made on the same values of their family. Most consumers share the same beliefs as their parents which create similar buying habits.

Cultures, is the one of the main factor which make the job for marketer more complicated in nature. Some of the reasons which influences behaviour of the consumer when comes to buying are:

First of all, the real challenge of the BOP markets is, first and foremost, to fully understand the needs of poor consumers and translate them into high-quality products quality. Companies do not often understand how these consumers live, what they value and what their aspirations are. If a product fails to generate enough demand to be profitable, it may be because the company is not listening to the customers. If the company decides to look further into the possibility of marketing to the BOP segment, it will be mandatory to know about business barriers such as blocked currency and government approval requirements for securing foreign exchange as cited in the book. “Those barriers to business such as monetary barriers that a government

This subsection focuses on psychological factors that influence consumer behavior. In the latter subsection, it concerns social factors that would influence consumer behaviour.

This report examine that this product is initially launching in Lahore’s domestic market the study included both primary and secondary research. The primary study focused on a survey of the competitors and the liking and disliking of the people. Through