Essay About Different Market And New Product

Unit 3 Marketing M1
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For the merit part of this assignment I am going to compare the similarities and differences of the marketing techniques which are being carried out by diesel and Kelloggs. Although Kelloggs and diesel are in the different market to each other but theyre both achieving the same goal it just the way they achieving it its different. Although both Kelloggs and diesels marketing techniques are very similar there are differences in the as well, both of the businesses use something called growth matrix when they want their business to growth or expand. Because theyre different companies which produce different goods, their tactics of how to achieving this will be slightly differently from each other. For example, market penetration this is the increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts. Diesel make jeans but theyre constantly releasing new jeans and new designs to make the customers think that theyre a bit different than they originally were so they can make more out of it, however when doing this people are going to have to see it immediately, otherwise they are not going to tell the difference in them and customers might not but them so they have done all that for nothing. On the other hand for Kelloggs this is where the differences comes in for diesel they have to make people visually see the different in the product Kelloggs have to make people Taste the differences, people need to taste the breakfast cereal in order to tell the difference, therefore they do not have to change the packaging as much for people to see straight away. An example for this is Coco Pops and the new moon and star ones. For this reason they are using market penetration differently. The next one is product development this is one of them that both Diesel and Kelloggs will use it the same way this is because both businesses want to achieve a new product from the previous one. Therefore they have to find a way to either edit or improve something on the product to make sure that its defiantly different from the previous one. Market development is where both businesses are very different this is because Diesel might struggle to find a new market because in the fashion world there are too many competitions and to founding a new market is quite hard to do because other fashion businesses probably already done it also it very time consuming and expensive, even if you do have a new market it doesnt grantee the new product will do well. Whereas Kelloggs can go to all sorts of different markets as many different people all over the world eat cereal. And finally diversification, Kelloggs can do well in diversification because lots of people already know about Kelloggs and they have so many cereals out there that there everyone must like at least one. Therefore