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Written Report

Our cereal is called Waffleo's and is targeted at teenagers ages 13-16. Research showed this age group prefers sweet cereals in colorful boxes without prizes or games. The name and inclusion of chocolate chip waffles was also appealing. An investor should purchase this cereal because we identified what this age group wants through research. The price is low because there are no prizes. Teenagers influence their parents' cereal purchases more than younger children. A commercial will be used to promote Waffleo's because teenagers watch TV frequently. The cereal will be placed with other snacks in grocery stores for visibility.

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115 views2 pages

Written Report

Our cereal is called Waffleo's and is targeted at teenagers ages 13-16. Research showed this age group prefers sweet cereals in colorful boxes without prizes or games. The name and inclusion of chocolate chip waffles was also appealing. An investor should purchase this cereal because we identified what this age group wants through research. The price is low because there are no prizes. Teenagers influence their parents' cereal purchases more than younger children. A commercial will be used to promote Waffleo's because teenagers watch TV frequently. The cereal will be placed with other snacks in grocery stores for visibility.

Uploaded by

api-286143089
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Written Report:

Brief Marketing Strategy


Our cereal is called Waffleos. We did a lot of research on what kids the ages 13-16 would like in
there cereals. All of the surveys that we administered to teenagers ages 13-16 said that they
would like cereals to be sweet, in colorful boxes, without a prize, and without any games on the
box. The survey results also indicated that they liked the name Waffleos and waffles in general.
One type of waffle that we found a lot of kids enjoyed was chocolate chip. An investor should
purchase this cereal because we did our research and found what teenagers would like and would
buy. The price isnt too high because we did not do a prize which would have cost more. The
impact that a teenager has on their parents cereal choices because the teenager usually tells their
parents what they would and wouldnt like to eat, unlike little children who does not have much
of a say.

Product
Our target market are teenagers ages from 13-16 we chose these ages because they have a say in
what they would and wouldnt eat for breakfast.
Questions;

Yes;

Would you let your children have waffles in the morning?

No;
10

Do you like waffles?

Would you buy cereal with the name waffelos?

Do you enjoy prizes in your cereal?

Do you enjoy colorful boxes

Do you enjoy games on your boxes?

What does Waffelos make you think of?

Waffles

Do you like sweet or unsweetened cereal?

Sweet

What kind of waffles do you like? Ex; Blueberries, chocolate chips?

Chocolate Chip Flavor

Price

Production/Development Cost Worksheet


Basic Cost
Category

Price

Cost of Market Research

$0.20

Cost of Advertising

$0.35

Cost of Distribution

$0.15

Cost of Cereal

$0.70

Cost of Box

$0.32

Added Cost
Sugar Coating

$0.27

Coloring

$0.16

Chocolate Marshmallows

$0.23

Cost Breakdown
Total Production Cost

$2.38

Profit to Manufacturer

$0.31

Cost to Retailers

$2.69

Profit to Retailers

$0.22

Cost to Consumers

$2.91

Promotion
The promotional tool that we will be using would be a commercial. We chose this because most
teenagers watch a lot of TV. We figured that doing a flyer or a radio ad wouldnt catch their
attention as much as a commercial would because they wouldnt actually see the product. The
older generation mostly listens to the radio and looks at flyers so if our target market were adults
that would be one of the promotional tools we would have used.

Place
The place are cereal would be placed would be with the other cereals, crackers, and snacks. We
would put our cereal here because thats where all the sweet snacks are so as they are getting
snacks for their lunches and what not they will also run into our cereal product.

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