Nick Unan Section E
Thursday, January 28, 2010
Who doesn't eat cereal? Old, young, rich, poor, fat and skinny. Cereal is a staple of the American breakfast. However, due to the market diversity, the cereal market is flooded with options for the consumers. The first step of STP is segmentation. Market segmentation is the dividing of a market into potential consumer groups. Mini Wheats was able to identify a segment it appealed to. The next step is targeting, which is the decision to craft a firm's products to "delight" a particular market segment. Mini Wheats targeted moms who are actively involved with the decision to buy one cereal over another. Finally, positioning is how a firm separates itself from its competitors through specific advantages it offers. Mini Wheats positioned themselves as the brand that is the healthy choice, and even more specifically the brand that will help children in school. They appeal to moms by positioning themselves as the "brain food" many moms seek. Mini Wheat's positioning statement would read something like: To concerned moms, Mini Wheats is the cereal that tastes good and improves attentiveness because of its whole wheat recipe.