Reference no: EM131455698

Over 38,000 consumers participated in an independent research study conducted by BrandSpark International and Better Homes and Gardens. These consumers selected the 34 most appealing and innovative new food & beverage products of 2016. The Best Cereal was Cream of Wheat To-Go Maple Brown Sugar with Walnuts.

Consumers say they love to eat this for breakfast on a cold morning. An excellent source of iron and calcium, this instant variety comes in single-serve packets that can be easily prepared in the microwave or by adding hot water to your bowl. This is a great option to bring to work or enjoy at home.

Since this is a new product extension the target market will vary in terms of promotion.

Among the various market segments for Cream of Wheat To-Go Maple Brown Sugar with Walnuts are:

People who eat breakfast on-the-go People who eat cereal as a snack at home or away from home Vegetarians People who want to try something different, add variety People who want to be trendy People who buy pantry staples online

Select a target market from one or two of the segments described above or choose another possible TM not listed. Discuss your approach to strategizing about your ad campaign. What is the total product concept for your TM? Sketch out the 4Ps strategies you might consider focusing on promotion to your TM.

Positioning refers to the PLACE a brand occupies in the consumer's mind. Consumers position a product via where it stands in the competitive array, by unique attributes, by price or quality, by who uses it or how it is used, or by image.

One of your exercise assignments (#3) is to perform research and help your team develop a preference/perception map based on consumer feedback.

A good place to start in terms of developing and understanding the research itself is to think about how you will use that research data to describe a viable positioning strategy for your campaign product. Describe positioning and explain its application for your campaign data collection.