SOMETHING TO CROW ABOUT! Kellogg’s success Product Management: Branding, Life Cycle, Pricing, and Mix 0422 Marketing Principles TOPIC OR UNIT OF STUDY Skill Set: Product Service Management, Marketing Information Management CONTENT STANDARD(S) AND OBJECTIVE(S) Marketing Principles #6 Product/Service Management—Explain the nature and scope of the product/service management function; Identify the impact of product life cycles on marketing decisions; Describe use of technology in the product/service management function; Explain business ethics in product/service management; Identify consumer protection provisions of appropriate agencies; Explain the concept of product mix Marketing Principles #7 Product/Service Management—Describe factors used by marketers to position products/services; Explain the nature of product/service branding; Explain the nature of corporate branding Marketing Principles #11 Marketing Information Management—Describe the need for marketing information; Identify information monitored for marketing decision-making; Explain the nature and scope of the marketing-information management function; Explain the role of ethics in marketinginformation management; Describe the use of technology in the marketing-information function; Describe the regulations of marketing-information management; Describe the nature of marketing research; Discuss the nature of marketing research problems/issues; Describe methods used to design marketing research; Describe options businesses use to obtain marketing-research data; Discuss the nature of sampling plans; Explain characteristics of effective data-collection instruments; Explain techniques for processing marketing information; Explain the use of descriptive statistics in marketing decision-making. INTRODUCTION Business success relies on product service management. Students will look at product life cycles, and how marketing may change through different stages. Students will examine how Kellogg’s has maintained their brand strength in a rapidly changing market place through marketing research and product development. Students will utilize the MBAresearch.org website for product/service management background. ESSENTIAL QUESTION How has the extension of the Special K brand been a global success story? INTEGRATION OF ACADEMICS, TECHNOLOGY, ENTREPRENEURSHIP Students will utilize Internet for research (including the mbaresearch.org website). Students will complete various activities that will help them plan, structure, and write a technical report in a style taught I BCA and English classes. Students will develop entrepreneurship skills by working independently on mbaresearch.org site, and completing assignments in a timely, efficient manner. STUDENT INVOLVEMENT IN PLANNING PROCESS Students will select Kellogg product for research and participate in brainstorming sessions within their teams. TASK(S) Students will access mbaresearch.org and the following: Nature and Scope (PM:001) (PM LAP 17) (SP) Life cycle (PM:024) (SP) Technology (PM:039) (SP) Ethics (PM:040) (SP) Consumer protection (PM:017) (SP) Product mix (PM:003) (PM LP3) (SP) As a group, students will brainstorm products made by Kellogg’s. After brainstorming session, students will access www.Kelloggcompany.com/ and compare their list with the product mix offered by Kellogg’s. This site will provide them the history of Kellogg’s and its continued success as the world’s largest cereal producer. Students will continue research of the Kellogg’s corporation on The Times 100 website (businesscasestudies.co.uk) covering all aspects of market research, product life cycle, product positioning, product mix, etc. *Select case studies tab, select by company, Kellogg’s. Students will interact with website to complete a variety of activities (questions, answers, case studies) covering: Communications Skills o Devising a communications plan o Building a better workplace through motivation Promotion o Using promotion to boost sales and brand value Marketing planning o Using aims and objectives to create a business strategy Branding (product and corporate) o Using promotion to boost sales and brand value o Building a brand in order to sustain its life cycle o Using new product development to grow a brand o Revitalizing a valued character o Re-branding a Corporate Image Product life cycle o Extending the product life-cycle Market research o New products from market research Channel Management o Supply chain from manufacturing to shelf o http://businesscasestudies.co.uk/business-theory/marketing/creating-strategies-that-meetcustomer-needs-the -marketing-mix.html#ixzz1zD6Q5XnW o Study of the four P’s of a Marketing Mix, plus activities RESOURCES http://statesconnection.mbaresearch.org www.Kelloggcompany.com/ TECHNOLOGY USE Internet research (sites listed above). EVALUATION Students will complete each activity within every case study, print their responses, and check for accuracy. Grades will be recorded regularly. Students will compile all exercises into individual files in preparation for final evaluation. For the final evaluation of this project, students will prepare a summary report about the Kellogg’s company, making sure that all questions were identified and answered in their own words. They may use their files developed from the above activities, to prepare this report. A rubric will be used to grade this report. TIMELINE: 45-minute sessions; 8-period day Approximately 20 class sessions. CONCLUSION Upon completion of this project, students will be able to talk about the impact of product life cycles on marketing decisions, explain the concept of branding, and identify or explain how the extension of product brands may contribute to a business global success. Business Report Rubric 0422 MARKETING PRINCIPLES POOR - 1 AVERAGE - 2 GOOD - 3 EXCELLENT - 4 Sections are poorly organized and some are missing. A few formatting errors exist. All required sections are included but one or two are poorly organized. One formatting error exists. All required sections are included but one needs to be organized better. No formatting errors exist. All required sections are included, and each is effectively organized. No formatting errors exist. Introduction Does not provide adequate background and does not convey purpose or report’s form. Introductory information is adequate but needs development and clarity. Introductory information is clear and professionally developed. Introduction is excellent: it’s clear, engaging, and thorough. Data Analysis and Results Data is not relevant for purpose; presentation and interpretation of results are inaccurate. Data is relevant but presentation and interpretation of results need work. Data is appropriate and relevant; presentation and analysis of data is good. Data is appropriate and very relevant; presentation and analysis of data are professional, thorough, engaging, and sophisticated. Conclusions are pertinent, realistic, evidence-based, and detailed. Conclusions are excellent. Report Format and Organization Conclusions Visual Supplements Grammar Mechanics Sentences and Style Unclear and not connected to the report’s data. Not pertinent, realistic, or detailed. No visual supplements such as tables or graphs are included. Two supplements are included and provide valuable information but warrant more thought AND editing. Two supplements are included and provide valuable information but warrant more thought OR editing. Two supplements are included and provide valuable information that is clear, professionally presented, and insightful. Numerous grammatical errors exist and impede meaning. Some grammatical errors exist but generally don’t impede meaning. Few grammatical errors exist and don’t impede meaning. No grammatical errors exist. Report has numerous punctuation, spelling, or capitalization errors. Report has some punctuation, spelling, or capitalization errors. Report has a few punctuation, spelling, or capitalization errors. Report has no punctuation, spelling, or capitalization errors. Sentences contain numerous errors and impede meaning. Style is not concise or professional. Sentences contain some errors but don’t impede meaning. Style is generally concise and professional, but some additional editing is warranted. Sentences contain few errors that don’t impede meaning. Style is concise and professional. Both sentences and style are good. Sentences contain no errors and are diverse and sophisticated. Style is concise and professional. The report has clearly been edited and proofread numerous times.