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According to Duermyer (2010), marketing mix denotes the combination of the elements of marketing and the roles each element plays in promoting products and services and delivering them to customers. Basically, marketing mix arises from the knowledge that the customer is at the centre of the business and that other suppliers’ for the same product exists, or to create awareness for a new product. Thus in order to have a triumphant marketing of its product, a firm will need to carefully consider the marketing mix elements namely: product, place, price, and promotion, this is to mean a successful mix of the right product, sold at the right price in the right place using the most suitable promotion.
In essence, the product should have the right features and so it is important for a firm to differentiate its product with design, branding, good quality, clear labeling, attractive packaging, attributes and a ready availability of the product. These components of the product will attract customers in making their decisions in relation to other suppliers. Additionally, determining the prices of the products will influence demand for the product. A firm should consider offering discounts to its customers especially for new entrants and new products. Besides, giving their customers credits, warrants and multiple prices will win a firm more customer hence increasing demand for their products and services (Foxall, 1981, p.11).
Furthermore, promotion creates awareness of the product and this can be done through advertising, sales promotion like after-sales service and free samples, publicity of the product and personal selling. Successful promotion enables a firm to spread costs over a larger output (Lancaster & Withey, 2007). Last but not the least, the place or physical location in which the product is being sold is not to be neglected. This can be successfully done through having outlets, using channels of distribution and personal selling such that the target group gets the product at the right time and place (Foxall, 1981, p.11). In this sense, marketing mix elements have to be used collectively; however the mix elements vary from one firm to another depending on the product.
A case in point is the Kellogg’s company which deals with breakfast cereals. The company produces quality products which it are attractively branded and packaged to meet the needs of its diverse customers. As well, the prices of the products are competitive and affordable. Moreover, the company uses the best promotional techniques whereby it has publicized its products in the internet and in fact has developed an attractive website enlisting all its services and explaining clearly of its brands. Besides, the company uses facebook to advertise its products as well where thousands of people like their profile. Nevertheless, Kellogg’s company products are manufactured in 19 countries and have got outlets like leading supermarkets in over 180 countries around the world, and they have maintained good customer relations. This has enabled the company to reach a wider market and spread its costs compared to its competitors.
Imperatively, the importance of marketing strategy cannot be overemphasized. Kellogg’s company has concentrated its resources on its immense opportunities to boost its sales thus realizing a competitive advantage. The company has got clear cut goals for which it strives to beat them through its marketing strategy and tactics by combining product development, promotion, distribution, pricing, relationship management and other elements. The creativity of the company and its tactics has led to its rapid growth and build its reputation.
Finally, the company has maintained its competitive advantage by improving the quality of the product from time to time and addressing customer needs effectively. Apart from this, it has highly differentiated its product. Additionally, it ensures a constant supply of its products so that it does not lose its customers and also maintain its high profits. Needless to say, it is one of the leading companies that manufacture and supply breakfast cereals.
