GLOSSARY
Investment : putting funds to use in the hope of returns later.
Marketing mix : a series of variable factors such as the four Ps (product/ price/ place/ promotion) used by an organization to meet its customers’ needs.
Point-of-sale-materials:Information that is used where the sale actually takes place, such as displays in stores and by tills.
Using this information, the re-launch focused on the four parts of the marketing mix :
Product – improvements to the recipe and a wider range of flavours, repositioning the brand as ’healthy and tasty not a substitute for a missed breakfast
Promotion- a new and clearer brand image to cover all the products in the range along with advertising and point-of-sale materials
Place- better offers and materials to stores that sold the product
Price- new price levels were agreed that did not rely on promotional pricing. This improved revenue for both Kellogg and the stores.
As a result Soft Bake Bar year-on-year sales went from a decline to substantial growth, with Elevenses sales increasing by almost 50% . The Nutri-Grain brand achieved a retail sales growth rate of almost three times that of the market and most importantly, growth was maintained after the initial re-launch.