MBA 705 Milestone Two: Implementation Plan

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In Milestone Two, you will submit an implementation plan, which is a clear and comprehensive plan for implementing and managing the concept from inception to completion. Although the details of your plan will necessarily depend upon your concept, at a minimum, your plan should include the following critical elements:

Critical Elements:

 Physical and technological resources needed for the concept, including where these will come from and how they will be used to reduce cost or improve operations. Be sure to discuss why one resource option is better than another where appropriate.

• A detailed implementation schedule covering what needs to be done, by when, and, tentatively, by whom. (Note that key personnel will be covered in more depth in Milestone Three.) The schedule should identify the critical path to success and outline the dependencies between tasks

• Project review processes and indicators of success to ensure that the project stays on target

• An explanation of how intrapreneurship or entrepreneurship factor in to the implementation of your plan and how you will protect intangible assets, such as intellectual property or brand.

Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page, references, and appendices) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page.

Please make sure you include at least 5 scholarly sources in this paper.

Please see attached for a PDF of the paper guidelines and rubric, and also see attached for previous papers for reference. Make sure that each critical element is a bolded header in the paper.

MBA 705 Milestone Two Guidelines and Rubric Overview: For the capstone assessment, you will create a business implementation plan and audiovisual presentation for the product, service, or idea you have been developing throughout your MBA coursework. In Milestone Two, you will submit an implementation plan, which is a clear and comprehensive plan for implementing and managing the concept from inception to completion. Although the details of your plan will necessarily depend upon your concept, at a minimum, your plan should include the following critical elements: Critical Elements:  Physical and technological resources needed for the concept, including where these will come from and how they will be used to reduce cost or improve operations. Be sure to discuss why one resource option is better than another where appropriate. • A detailed implementation schedule covering what needs to be done, by when, and, tentatively, by whom. (Note that key personnel will be covered in more depth in Milestone Three.) The schedule should identify the critical path to success and outline the dependencies between tasks. • Project review processes and indicators of success to ensure that the project stays on target. • An explanation of how intrapreneurship or entrepreneurship factor in to the implementation of your plan and how you will protect intangible assets, such as intellectual property or brand. Guidelines for Submission: Your draft must contain all of the elements listed above. It should be 5 to 8 pages in length (excluding the title page, references, and appendices) using 12-point Times New Roman font, with one-inch margins. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation. Your paper should follow APA guidelines. You must include at least 5 scholarly sources. Cite your sources within the text of your paper and on the reference page. Critical Elements Main Elements Critical Thinking Physical and Technological Resources Implementation Schedule Project Review Processes Proficient (100%) Includes most of the main elements Provides logical conclusions and defends with examples Provides physical and technological resources and includes a discussion of the source of the resources and why certain options are better than others Provides an implementation schedule and the critical path to project success, including dependencies among tasks Provides a project review process and shows how the process will keep the project on track, including indicators of success Not Proficient (0%) Does not include any of the main elements Does not provide logical conclusions Value 15 15 Does not provide physical and technological resources 15 Does not provide an implementation schedule 15 Does not provide a project review process 15 Intrapreneurship or Entrepreneurship Provides an explanation of how intrapreneurship or entrepreneurship factor into plan implementation and includes a discussion of how to protect intangible assets Articulation of Response Submission does not have critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Does not provide explanation of how intrapreneurship or entrepreneurship factor into plan implementation and does not include a discussion of how to protect intangible assets Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 15 10 100%
Running head: MILESTONE 1-2 - JUSTIFICATION 1-2 Milestone One: Justification Jonathan Brannan Southern New Hampshire University Course MBA-705 December 23, 2018 Dr. Isabel Wan 1 Running head: MILESTONE 1-2 - JUSTIFICATION 2 Rationale Over the years, Kellogg`s Company, a breakfast cereal manufacturing entity has enjoyed tremendous growth. The establishment has always responded well to changing market trends and has always emerged successful. The products the company produces have over the years been the choice of many peoples’ healthy breakfast stop (Avey, 2012). Such products are what made the company register greater strides in growth to be one of the leading cereal companies in the 20th century. However, changing consumer lifestyles has shifted the company’s business strategy. The most evident result of these emerging trends is the drop in the company`s yearly sales by 4% in the U.S market. Due to this, the company needed to adopt a new product that sets to address the emerging consumer trends to remain in operation and boost its annual sales. Another reason as to why Yo-Bran needs to be adopted is the issue of competition that has grown rife in the breakfast cereal industry in recent years. Kellogg`s needs to effectively compete with other key industry players and emerging brands for consumers. To effectively compete, the firm needs to adopt products that have not been produced by other firms but are in demand by consumers. The biggest strategy of winning in the business driven competition is by producing goods that satisfy the consumer and not products that are fit for the market. In producing goods that fit the market, in most instances, the company produces goods that every other company is producing to match their production. But in producing goods that satisfy the consumer, the company invests in products that are in line with the current consumer demands, and this is where Yo-Bran comes in. Yo-Bran is set to quench the demand of consumers who are now avoiding sugary cereals. The ultimate goal is to overturn the sales that plunged in past years and register significant improvement. Running head: MILESTONE 1-2 - JUSTIFICATION 3 Many breakfast cereals in the market today are genetically modified. The U.S is the leading player in this industry (Hallman et al. 2013). The reception of genetically modified foods has had a lot of misconceptions and poor public perceptions. The quest of Kellogg`s Company to penetrate such markets where opinions are rife would prove difficult. For the company to increase its market share and increase its annual sales globally, it has to expand its market base. The expansion involves venturing into territories where the company has not operated before. It will be a huge task to penetrate a market where misconceptions of genetically modified foods are high. Hence, for the firm to realize expansion, it has to adopt healthier products like Yo-Bran that would readily be adopted in those areas and help the company to grow. Opportunity According to Jack Linshi of Time.com, the breakfast cereal industry is faced with the challenge of producing a taste and healthy alternative that appeal to consumers (Linshi, 2015). This gap leaves an opportunity for Kellogg’s to take advantage of. A gap presents a business opportunity, and the existence of such a gap means there is a ready market for the products developed specifically for that spotted chance. Yo-Bran introduces a completely different taste and healthy alternative that is in line with consumer specifications and demands. The introduction of the product to the market will be a major response to consumer demands which include a better tasting product and a healthier alternative to other breakfast foods. The development of Yo-Bran came about to fill the needs of Kellogg’s consumers. The current focus of the breakfast food industry is now on products that promote healthy living and wellbeing of the consumer. The products that have been proven to cause various medical conditions are being avoided. For instance, sugary cereals that have a negative impact on teeth and cause other general health problems are being avoided. It is for this reason that the Running head: MILESTONE 1-2 - JUSTIFICATION 4 development of Yo-Bran presents an alternative to such consumers to help them live healthier lives. Kellogg’s has taken their consumers’ health and wellbeing in to consideration with YoBran. More and more people are getting concerned about products that have long-term side effects, and Yo-Bran will alleviate these concerns. Market Analysis The ultimate winner in the innovation of a new product is the company that produces a product with the global market as the major objective (Cooper, 2013). Product performance is greatly dependent on the vibrant marketing strategy accentuated by the company. The primary target market for Kellogg’s Yo-Bran is breakfast consumers who are shifting to healthy eating. The product geared towards tapping a market of consumers avoiding sugary foods to foster good health. Furthermore, the taste of cereal products has been in question before which triggered the development of Yo-Bran. The identified gap regarding taste is the market Yo-Bran sets to fill. The intention is to present a product with a unique, and a favorable taste unmatched by any other current product in the market. The unique and healthy taste along with consistent demand from consumers will help prove Yo-Bran successful. Consequently, Kellogg`s in recent years adopted a rigorous marketing strategy that is set to draw more young adults into embracing breakfast (Bonigalia). Initial studies show that young adults in the age bracket 25-35 with income ranging between $35000-70000 an untapped market. The studies further show that males of the age 16-24 do not readily take breakfast. Statistically, the population consists of huge numbers of the males in the stated age bracket. By sensitization through the marketing strategy that the company has adopted, the said persons will provide a wide market for Yo-Bran products. The figures alluded to are generally from the U.S, a market environment the firm has in the past dominated, and hence holds a significant advantage over. Running head: MILESTONE 1-2 - JUSTIFICATION 5 Yo-Bran is projected to appeal to them because of the health factors it portends, the taste that is significant with age stated, and the ease with which preparation achieved. Further, the company will continue taking advantage of the African-American and the middle age who have been the loyal customers for Kellogg`s products. Moreover, the product introduced to international markets where the company enjoys significant support. The markets include Canada, Australia, and the United Kingdom. The strategy is in line with the thought that a new product should be developed for the world and marketed to the globe (Cooper, 2013). The market territories mentioned provides an expansive platform for the product to thrive in and register tremendous growth. Quality and innovation incorporated in the product is the primary strength of the product that capitalization in, and rigorous marketing will play a key role in its market acceptance and take off positively. Competitive Analysis Investigations carried out by market analysis establishment NPD group show projections breakfast consumption could rise by a 5% margin come 2019 (Chamlee, 2016). The facts present an opportune moment for the breakfast cereal industry. The competition that is set to arise due to these facts will be immense, but Kellogg`s will sustain itself through the marketing initiatives it has so far adopted. Also, the quality of Yo-Bran is unmatched by current products with similar features in the market. Clients are very concerned about the quality of the products they associate with, and hence, the projections show a great reception of Kellogg’s Yo-Bran. The quality of the product and marketing strategy, along with Kellogg’s brand name, are the driving force the company intends to leverage on to ensure the product beats all kinds of competition from other market key players. Running head: MILESTONE 1-2 - JUSTIFICATION 6 Yo-Bran was developed with the health of consumers in mind, which means that the product holds a significant advantage over the rest of the competition. The concept of healthy living that has played a crucial role in the design of the product as a factor will receive much attention from consumers. During the marketing campaigns, the factor of health intentionally highlighted, so that the targeted market can get a glimpse of the leverage the product has over the rest. The intention is to raise awareness of the benefits of the product to the consumer to gain a significant market share. The competitors will have a rough time matching the benefits offered by Yo-Bran. Since the endeavors by other companies to match this product won’t be spontaneous, the company will leverage that window to push the sales of the goods. Eventually, the product will be part of the healthier living culture we live in today. Company: Kellogg’s According to Kellogg’s their Vision states that “To enrich and delight the world through foods and brands that matter (Kellogg Company).” The fact that Yo-Bran is a product that is devoted to the wellbeing of the consumer regarding health, it is in line with the statement of the vision of enriching and delighting. It is an enrichment because of the health of the consumer taken into account. Also, it is a delight to the consumer by them realizing that the product they associated with will not have a negative impact on their health. So, Yo-Bran is a product that matters a lot to consumers since the ultimate goal is to provide a product that has the taste the consumer wants and concerned about their health. On the other hand, the mission statement of Kellogg Company states that “Kellogg is a global company committed to building long-term growth in volume and profit and to enhancing its worldwide leadership position by providing nutritious food products of superior value.” First, the product that is in question is nutritious and of high quality combining yogurt, cereal with Running head: MILESTONE 1-2 - JUSTIFICATION 7 fresh fruit, and granola. The nutritious and quality part is in line with some part of the mission statement. Second, the part of the mission talks about the company`s long-term growth in volume and profit. Yo-Bran will to a great extent help the company diversify in its products leading to more sales, growth, an increase in the company`s net profits. Finally, in stamping the firm`s leadership position, the new product is a milestone in setting a pace for healthy eating hence taking command in global product leadership. Lastly, the priority of the company is to create a platform where ideas can grow and register success. Yo-Bran presents a new idea and a new specter of a product that if adopted present the company with an opportunity to steer its success to greater heights. The company, therefore, need to give the idea an opportunity to grow and help the company register significant success in line with its priorities. Innovation The products that have been in the market show some shortcoming. The created gap between the manufacturer and the consumers. Majorly, the concern of the consumers has been the amount of sugar-laden cereals. Second, is the fact that the sugary cereals cause health challenges for the clients. Finally, is the taste of the cereals which breakfast consumers feel should taste a particular way. Innovations are set to breach such gaps and provide solutions to existing problems. Yo-Bran developers took into considerations all these factors and produced a product that addresses the challenges alluded. It is an innovation that addresses the challenge of taste, health concerns, and significantly reduces sugar in its composition. It is an innovation that that by far will set the pace in the industry of cereals adopted for breakfast. Running head: MILESTONE 1-2 - JUSTIFICATION 8 References Avey, T. (2012, November 29). What’s for Breakfast? Discover the History of Cereal. Retrieved on December 17, 2018, from http://www.pbs.org/food/the-history-kitchen/history-ofcereal/ Bonigala, M. (n.d.). Kellogg’s Adopts New Target Market. Retrieved on December 17, 2018, from https://www.spellbrand.com/kelloggs-adopts-new-target-market Chamlee, V. (2016, May 17). Americans Are Increasingly Obsessed With Breakfast. Retrieved on December 17, 2018 from https://www.eater.com/2016/5/17/11691604/us-breakfastconsumption-rise Cooper, R. G. (2013). New products: What separates the winners from the losers and what drives success. PDMA handbook of new product development, 3-34. Cooper, R. G. (2013). New products: What separates the winners from the losers and what drives success. PDMA handbook of new product development, 3-34. Hallman, W. K., Cuite, C. L., & Morin, X. (2013). Public perceptions of labeling genetically modified foods. Kellogg’s. (n.d.). Business Summary. Retrieved on December 17, 2018, from http://investor.kelloggs.com/business-summary#overview Linshi, J. (2015, February 12). Skipping Breakfast and Decline in Kellogg’s Cereal Market. Retrieved on December 17, 2018, from http://time.com/3705987/skipping-breakfastcereal-kellogg/
Running Head: COMPREHENSIVE BUSINESS PLAN 9-1 Final Project Submission: Comprehensive Business Plan MBA 560 Jonathan Brannan Southern New Hampshire University 6/4/2017 1 Running Head: COMPREHENSIVE BUSINESS PLAN 2 Executive Summary Kellogg Company has always been renowned for its popular brands and its ability to keep up with the ever-changing trends in the breakfast food industry. With breakfast foods moving to a healthier and quick eating trend, it’s important for Kellogg’s to make sure they develop a product to stay ahead of this trend. The new Kellogg’s breakfast food, Yo-Bran, will help ensure Kellogg’s maintains its profitability and its market share within the industry, as well as giving their consumers what they want. Yo-Bran beats the competition by providing healthy ingredients in the product with nonfat Greek yogurt combined with fresh fruit and granola. Yo-Bran will give consumers a healthy and quick alternative breakfast food for those people living on-the-go lives looking for something quick and healthy to eat in the morning. Yo-Bran also isn’t just a breakfast food but can also be a healthy snack food alternative throughout the day. The rest of the Yo-Bran product concept and proposal is outlined in the following business plan. Context: Defining Features “America's leading cereal maker, Kellogg's, reported a 4% decline in its annual U.S. cereal sales Thursday, slashing its long-term growth forecast roughly in half. What's to blame for the soggy outlook? Kellogg's and other cereal makers face two big problems: Breakfast-skippers and changing tastes” (Linshi, 2015, p. 2). Kellog’s industry share over the years and has continuously reduced, resulting in the strengthening of competitors like General Mills. The biggest problems in the breakfast cereal industry have been brought about by their overdependence on genetically modified food materials, high sugar concentrations, and preference of fast foods for breakfast for convenience purposes. Commodity pricing pressures have forced many companies within the breakfast cereal industry to raise their prices (Rooney, 2012). As if the competition with other cereal brands Running Head: COMPREHENSIVE BUSINESS PLAN 3 wasn’t enough already for Kellogg’s, private label-cereals began to take shape and started to become an attractive alternative to price-conscious consumers (Rooney). As mentioned before, more people have been looking for healthier alternatives to the high sugar cereals. “Kellogg Co., maker of such iconic brands as Special K, Mini Wheats and Corn Flakes, is no stranger to these challenges, itself having to raise prices amid rising commodity costs and recently reporting a net sales decrease of 1.3% in the first quarter. Revenues are expected to increase only 2% to 3% in 2012 versus an average of 6% annually over the past decade. Most recently, consumers have taken to social media to voice their anger at Kellogg’s natural-cereal brand Kashi’s use of GMOs” (Rooney, p. 2). With that said, Kellogg’s most defining feature is their advertising, as well as their sponsorships. Despite all the competition and rising prices, Kellogg’s still remains one of the largest cereal makers by sales (Rooney, 2012). Amazingly enough, Kellogg’s spends “more than $1 billion annually on brand advertising and marketing and is an official sponsor of the U.S. Olympic and Paralympic Teams, is fighting back with product innovation, an expected purchase of Pringles that should expand its global footprint in the snacks category and now, a major brand overhaul” (Rooney, p. 3). Kellogg’s marketing efforts are one of the best in the industry. They spend more than any of their competition, but it has proved to be worthwhile. Another defining feature Kellogg’s has is their brand itself. In 2012 Kellogg’s went through a corporate rebrand, with the project being dubbed “Project Signature.” (Rooney, 2012). With this rebrand came a new logo which identified Kellogg’s core purpose, an incorporation of the “masterbrand” into all Kellogg’s marketing campaigns, consolidating 42 company websites into one, and the new tagline “Let’s Make Today Great” (Rooney). This rebrand was driven by an acknowledgement but Kellogg’s leaders that consumers want to be more engaged with the Running Head: COMPREHENSIVE BUSINESS PLAN 4 brands they care about. This is evidence that Kellogg’s is learning and wanting to keep pace with today’s consumers. Context: Fit “A strong focus on innovation is advantageous to the company while catering to the growing needs of its customer base. Kellogg’s R&D and innovation activities are carried out at its research center, W. K. Kellogg Institute for Food and Nutrition Research, in Battle Creek, Michigan, the US. The company considers a global approach to R&D and innovation, expansion and adjustment in its portfolio to meet consumer needs around the world. Innovation is one of the major driving forces of the growth of the company. For instance , In April 2016, the company's Pop-Tarts brand introduced Pop-Tarts, mashed-up with soda pop flavors. The company spent US$193 million on its R&D activities in FY2015. Strong focus on R&D helps the company in improving its competitiveness in the market” (MarketLine) Breakfast is widely considered the most important meal of the day and research seems to agree (Spector). “Study after study shows that breakfast boosts brainpower and helps to control cravings later in the day” (Spector, p. 1). With that said, Yo-Bran fits in with Kellogg’s shift to a healthier style of breakfast. Since Yo-Bran is of the breakfast variety it fits the mold of the current Kellogg’s brand portfolio. The nonfat Greek yogurt provides an extra boost of protein in the morning to go along with a healthy serving of fruit (Spector, 2014). Yo-Bran also fits in with Kellogg’s new tagline, “Let’s Make Today Great,” since you’ll be starting your day off with a healthy breakfast to give you the energy you need to make your day great. When it comes to Kellogg’s current business plan, Yo-Bran certainly fits the model. “Breakfast remains a growing meal occasion that generates more than $400 billion in sales globally each year. It also comprises about 45 percent of our global sales. We know that tastes Running Head: COMPREHENSIVE BUSINESS PLAN 5 and preferences for breakfast have been changing, which we view as an opportunity for our business. During the past year, we have focused on our four largest cereal markets, namely the U.S., Canada, U.K. and Australia. We have made strides in delivering foods our customers want, improving the relevance of the cereal category, and reinventing the in-store experience” (Kellogg’s, pg. 3). Kellogg’s core business model is to grow the breakfast cereal market and be able to dominate it at the same time. With a new and healthy product to introduce to their breakfast cereal portfolio, it will allow Kellogg’s to increase their market share in the breakfast cereal industry by providing consumers what they want, which is a healthy product. Kellogg’s business plan also involves becoming a global snack powerhouse (Kellogg’s). “The snack foods market has been another important focus of our strategy for very good reasons. Snacks generate $230 billion in total worldwide sales annually and represent almost 50 percent of our global sales” (Kellogg’s, pg. 3). The good news is that Yo-Bran can be consumed as a healthy snack alternative, as well as being a breakfast cereal. Through research conducted by Kellogg’s, it has been proven that 30 percent of all cereal in the United States is eaten as a snack (Kellogg’s). Yo-Bran’s nonfat Greek yogurt base with crunchy granola and a healthy serving of fruit will Kellogg’s in their quest in becoming a global snacking powerhouse. Of course, this will all depend upon the effectiveness of Kellogg’s ability to market the product. Context: Effectiveness In order to be more effective in the industry and to maintain their share in the breakfast cereal market, a rebrand was necessary to help truly understand the strengths and weaknesses of Kellogg’s. With that said, there were two major outcomes that came out of this rebrand for Kellogg’s, which allowed them to focus their strategy to remain effective. One outcome was to drive absolute clarity and alignment around the purpose of the Kellogg’s brand and what it stood Running Head: COMPREHENSIVE BUSINESS PLAN 6 for, and the other outcome was to create a fresh identity for the Kellogg’s brand (Rooney, 2012). Even though Kellogg’s remained one of the leaders in sales within the breakfast cereal industry, before the rebrand they felt their brand effectiveness was lacking and they weren’t connecting with their target audience like they wanted. After the rebrand, Kellogg’s began to spend more on digital platforms and tech to give the consumer a better brand experience (Rooney). With more people accessing information from mobile devices and online, it was imperative that Kellogg’s made a shift in their marketing efforts to reach more people and to be more effective as an overall brand. With a rebrand, it becomes easier to add and implement new products to fit a new brand strategy. With that said, when rebrands occur, many companies often add new products to their portfolios. Sponsorships, like the Olympics, have been a fantastic way for Kellogg’s to launch new products and to get across their message to their consumers. Yo-Bran would be a perfect product to add to Kellogg’s shift into a healthier product market and fits within their new brand effectiveness strategy. As stated by Mark Baynes, “a better breakfast leads to a better day” (Rooney, 2012, p. 8). At the end of the day, Kellogg’s rebrand has made their brand as a whole become more effective in the market. Need: Target Market: Basic Demographics Kellogg’s has recently adopted a new target market with their advertising campaign targeting young men (Bonigala). The age of the demographic will be 25-35 with a medium income of $35,000 - $70,000. The main geographic location for the Yo-Bran target market segment will be in the United States as there is a national shift to eat healthier. Initial targets will be in the Mid-Atlantic States. “Sometimes identifying and marketing to a previously untapped niche can mean incredible success. Kellogg’s is likely hoping that this will be the case with their Running Head: COMPREHENSIVE BUSINESS PLAN 7 new advertising campaign targeting young men, an audience that has been virtually ignored by high fibre cereal and breakfast food manufacturers up until now. The new campaign, called ‘Wake Up to Breakfast’, encourages young men to make healthy choices for breakfast and to make this meal a part of every morning” (Bonigala, p. 1). “Studies have shown that men between the ages of 16 and 24 generally stop eating breakfast. Kellogg’s hopes to entice them back to a favourite childhood brand with cereals that are branded to appeal to a slightly older palate and lifestyle” (Bonigala, p. 3). Yo-Bran will be a perfect product for this demographic as it is both healthy, with the nonfat Greek Yogurt, and tasty with the granola crunch and fresh fruit. It’s also easy to make as all you need to do is pour it into a bowl. With today’s fast pace lifestyle, this product will be perfect to grab, eat, and go. With that said, “A Kellogg's consumer is generally higher income, African American, and lower middle age. Kellogg's consumers are more likely to purchase Kellogg's during larger pantry stocking trips. Brands such as Quaker Chewy, Dannon Danimals, and Yoplait Go-Gurt also tend to be purchased in the same trip” (InfoScout). Need: Target Market: Other “By segmenting the market based on psychographic characteristics you are able to be more niche in your advertising buys; maximizing exposure to key segments. As a result, your money is spent more wisely and you should see an increase in your ad spend efficiency or a greater return on investment. You also can appeal more specifically to motivations in your messaging, which improve your conversion rate. Psychographic characteristics also play a key role in developing your target market personas” (LocalDirective, p. 3). Running Head: COMPREHENSIVE BUSINESS PLAN 8 Kellogg’s continues to market in their core markets which include Canada, Australia, United States, and the U.K. (Kellogg’s). They also continue to target younger aged consumers and mothers of the middle class. Need: Want or Need Specifically, younger consumers have been shifting from breakfast cereals to more healthy, nourishing, and quick to make alternatives (Tuttle, 2016). “The latest indication this is so came in the form of a Mintel survey in which 40% of millennials described cereal as too difficult to eat, what with the need to add milk and the maddening requirement of two hands for consumption” (Tuttle, p. 3). “In recent years, the big cereal companies have launched multiple missives to stop the decline of cereal. They've played up the nostalgia angle, periodically bringing back Boo Berry and other monster cereals that were part of many Gen X childhoods. They've marketed cereal as the perfect option for dinner and late night snacking, rather than have it limited to the breakfast hours” (Tuttle, p. 6). With that said, the decline in cereal sales has been a big problem for not only Kellogg’s but for their competitors as well. Consumers are looking for healthy and quick to make product alternatives to breakfast cereal. That’s why innovation is necessary and finding creative ways to fill the needs of their consumers. Yo-Bran is the perfect product to add to Kellogg’s product portfolio because it is both healthy and quick to make. Yo-Bran will help contrast the declining cereal sales and help fulfill the needs of Kellogg’s consumers. Need: Why Kellogg’s is working on tapping in to a new target audience including young men. As mentioned before, younger consumers are shifting their breakfast eating habits to healthier foods (Tuttle, 2016). Yo-Bran is both a healthy alternative to cereal, as well as a quick to make meal Running Head: COMPREHENSIVE BUSINESS PLAN 9 for people on the go. The nonfat Greek yogurt base, mixed with fresh fruit and granola chunks make it a healthy alternative to normal breakfast cereals. For serving purposes, all that a consumer needs to do is pour it into a bowl to to-go container and enjoy. These two characteristics help defend the strategy behind its target market of younger males. Strengths and Weaknesses: Assess Strength – Strong Product and Brand Portfolio: One of Kellogg’s biggest strengths is its current product and brand portfolio. More often than not, when Kellogg’s is mentioned people know what it is and the types of products they sell. Yo-Bran will benefit from this since Kellogg’s is trusted among many breakfast food eaters and many consumers are brand loyal. People are more willing to give a new product a try if they trust the brand that makes it. Kellogg’s Company is the largest producer of breakfast cereals and convenience foods in the world (Kellogg Company, 2006). Kellogg’s has a variety of products within its portfolio which include cereals, cookies, crackers, savory snacks, frozen foods, toaster pastries, cereal bars, fruitflavored snacks and veggie foods (Kellogg Company). “The company markets its products under the brands of Kellogg's, Pop-Tarts, Eggo, Nutri-Grain, Rice Krispies, Morningstar Farms, Famous Amos, Special K, All-Bran, Crunchy Nut, Frosted Mini-Wheats, Garden Burger, and Town House. It also produces cookies, crackers, crisps and convenience foods and markets under the brands of Keebler, Cheez-It, Murray, Austin and Famous Amos” (Kellogg Company, pg. 1). “Kellogg’s brands are highly reputed and enjoy massive attention from consumers even in emerging markets. Strong product range coupled with well-known brands enables the company to attract broad customer pool” (MarketLine, 2016, p. 1). Kellogg’s is headquartered in Battle Creek, Michigan but operates all over the world including Africa, Europe and Asia. Running Head: COMPREHENSIVE BUSINESS PLAN 10 Weakness – Reliance on Few Customers: Even though Kellogg’s is an industry giant with a large consumer base, it relies too much on a limited customer base, which supplies their products, for most of their revenue (MarketLine, 2016). If shoppers of a particular store don’t purchase new products, this could hurt Yo-Bran’s chances of becoming a popular trend since Kellogg’s focuses on a limited customer base. With a limited amount of customers selling Kellogg’s products, Yo-Bran’s chances of being seen and tried are limited. “In FY2015, Wal-Mart Stores Inc and its affiliates alone accounted for approximately 21% of the company’s consolidated sales. As of January 2016, Wal-Mart Stores, Inc. and its affiliates accounted for approximately 18% of the company’s consolidated receivables balance and 27% of its US receivables balance” (MarketLine, 2016, p. 6). With that said, in FY2015 34 percent of Kellogg’s net sales came from its top five customers and 47 percent of their US net sales (MarketLine). With Kellogg’s depending highly on customers like Wal-Mart, it could affect their overall business and operations if they aren’t able to find suitable alternatives for their products. This also allows its customers to increase bargaining power, which may affect Kellogg’s business operations (MarketLine). Strength – Knowledge: In 2012 Kellogg’s went through a corporate rebrand, with the project being dubbed “Project Signature.” (Rooney, 2012). With this rebrand came a new logo which identified Kellogg’s core purpose, an incorporation of the “masterbrand” into all Kellogg’s marketing campaigns, consolidating 42 company websites into one, and the new tagline “Let’s Make Today Great” (Rooney). This rebrand was driven by an acknowledgement but Kellogg’s leaders that consumers want to be more engaged with the brands they care about. This is evidence that Kellogg’s is learning and wanting to keep pace with today’s consumers. Running Head: COMPREHENSIVE BUSINESS PLAN 11 That said, with a rebrand comes a knowledge base of the current product portfolio, the industry, as well as knowledge and insights into product innovation. The people of Kellogg’s understand the breakfast cereal industry and the trends that come with it. The current trend in the industry is healthy eating. This continuing knowledge will help Kellogg’s with product innovation to help keep them relevant in the industry and making sure they are supplying their consumers what they want. Since Yo-Bran is similar to a yogurt parfait, knowledge on how to produce the product shouldn’t be out of the capabilities of the people at Kellogg’s. Strengths & Weaknesses: Opportunities: Consumer Trends According to a report done by market research firm NPD Group, breakfast consumption will grow by five percent through 2019 (Chamlee, 2016). Also according to the NPD Group, breakfast snack consumption, including yogurt, fruit, and granola bars, has increased 17 percent over the past six years (Chamlee). One of the major consumer trends attached to this recent growth is fast food and fast food restaurants. Morning visits to fast food restaurants have increased five percent over the past year, meaning more people are looking for quick fixes for their breakfast consumption (Chamlee, 2016). “For consumers, convenience and affordability are key — breakfast foods showing the most growth include breakfast sandwiches (hello, McGriddles) and portable foods, like yogurt and cereal bars. The average annual number of breakfasts consumed per person in 2015 was 361 (up 11 per person from 2010), meaning the average person is eating breakfast almost every day” (Chamlee, p. 3). Thanks to the speed and convenience of fast food restaurants, major breakfast brands, like Kellogg’s, must innovate to keep up with the fast food trend. Yo-Bran is a perfect example of a fast and convenient breakfast food, which is also a healthier alternative to fast food breakfast. Running Head: COMPREHENSIVE BUSINESS PLAN 12 With that said, a report done by NPD Group shows that 70 percent of breakfast consumption still takes place in the home (Chamlee). Another emerging consumer breakfast trend affecting the marketplace is all-day breakfast. Many fast food chain restaurants are now offering all-day breakfast menus and products (Huen, 2016). The reason for this is that breakfast items are often more affordable for both consumers and food operators to produce. The breakfast all-day trend also attracts those consumers getting a later start to their day (National Pasteurized Eggs, Inc., 2016). Yo-Bran is the perfect all-day breakfast product as it’s great for an early morning breakfast cereal alternative, or makes for a great mid-day snack. Yogurt can be enjoyed anytime throughout the day. The main breakfast target market affected by these trends that Yo-Bran must be able to capitalize on is the both men and women in their early 20’s who work or are in school. These people are on the go consumers and are looking for a quick and healthy breakfast product to consume on their way to work or school. In order to compete with fast food restaurants, Yo-Bran will have to use its competitive advantage it has in healthy eating. These trends will continue to play a major role of this target audience. Strengths and Weaknesses: Opportunities: Ethics For the seventh time since 2007, Kellogg’s Company has been named to Ethisphere Institute’s World’s Most Ethical Companies list (PR Newswire, 2015). Kellogg’s not only promotes ethical business standards and practices within their business, but they also exceed legal compliance minimums and shape future industry standards by introducing best practices (PR Newswire). With that said, those best practices implemented by Kellogg’s have reinforced the right behaviors to safe guard the business and its consumers, employees and investors. Running Head: COMPREHENSIVE BUSINESS PLAN 13 In 2013, Kellogg Company modified its Global Code of Ethics and began to embed the code into the company culture. “Building on our legacy of integrity, we wanted to ensure our Global Code of Ethics incorporated all of our 'K Values,' which include integrity, respect, accountability, passion, humility, simplicity and driving results," said Jim Sholl, vice president of internal audit and compliance. "In addition to recognizing our corporate ethics and governance, we're especially proud that this year's Ethisphere honor reaffirms our commitment to social and environmental stewardship and our philanthropic efforts” (PR Newswire, 2015, p. 4). Then, in 2014, Kellogg Company announced its new global sustainability goals in responsible sourcing and the conservation of natural resources (PR Newswire, 2015). Kellogg’s also continued its battle against hunger by pledging to donate one billion servings of food through Breakfast for Better Days. As a food company it makes sense for Kellogg’s to focus on global hunger relief, food insecurity and the importance of breakfast for children. Even though Kellogg Company is one of the most ethical companies in the world, new product develop can uncover ethical violations that could be harmful to the community and the company. Transportation of Yo-Bran to its suppliers could impact the community in a negative way. Transporting Yo-Bran in trucks could lead to increased traffic in local communities and also increased noise pollution. Of course, increased truck traffic can lead to an increase in air pollution within the community. Although this might not directly affect Yo-Bran’s branding, it might affect Kellogg’s overall branding of being a helpful community leader. Strengths and Weaknesses: Affect Even though Kellogg’s is one of the most well-known companies in the world when it comes to breakfast food, that doesn’t mean they don’t have their problems. One of the main weaknesses Running Head: COMPREHENSIVE BUSINESS PLAN 14 that affects the company in a major way is the amount of product recalls they have every year (MarketLine, 2016). Product recalls affect Kellogg’s in a negative way and really hurt the brand image and may decrease customer confidence in the brand. “In September 2016, the company recalled its whole wheat waffles due to presence of Listeria monocytogenes. It recalled approximately 10,000 cases of these products. Listeria monocytogenes causes fatal infections in young children, frail and elderly people and for people with poor immune systems. It also leads to severe headache, fever, stiffness, nausea, abdominal pain and diarrhea problems. Additionally, it also causes miscarriages and stillbirths in pregnant women. The company offered full amount of refund for those customers who purchased these products” (MarketLine, SWOT Analysis Overview, p. 6). These recalls could really have a negative impact on Yo-Bran especially if confidence is low among the customer base. This will affect the manufacturing department. Community impact can also have a huge effect on Kellogg’s and the marketplace. Transportation of the Yo-Bran product could negatively affect the community due to traffic concerns and air and noise pollution. Although there might not be any solution to this, we might be able to limit the amount of trucks coming and going from our suppliers by increasing the amount of product we ship in a truck. This would affect our logistics department. Core Competencies One of Kellogg’s main core competencies is diversity and inclusion. Diversity refers to the wide variety of human characteristics within the business, while inclusion has to do with the environment Kellogg’s creates so everyone can bring their whole selves to work every day and contribute fully to the organization (MarketLine, 2016). “At Kellogg, we are firmly committed to diversity and inclusion. We aim to have a workforce that, at all levels, reflects the vast diversity Running Head: COMPREHENSIVE BUSINESS PLAN 15 of our consumer base, and we want every employee to feel they can be real and authentic. We know that both diversity and inclusion are business imperatives: Diversity helps us better understand what our increasingly diverse consumers want and love, and inclusion helps to bolster employee productivity” (MarketLine, Company View, p. 4). Another core competency that Kellogg’s has is research and development. Kellogg’s puts a strong focus on its research and development activities. This helps Kellogg’s stay ahead of the changes within the industry and provides it with ‘first mover’ advantage by launching products ahead of its competition (MarketLine, 2016). “The company’s R&D initiatives are aimed at new product development, improvement of existing products and identifying and developing new benefits and developing new food forms. It always intends to achieve the growth through various product improvements and renovations” (MarketLine, SWOT Analysis Overview, p. 1). Kellogg’s is known for its cutting-edge technologies that help it develop new products based on the changing industry trends. “Kellogg’s R&D and innovation activities are carried out at its research center, W. K. Kellogg Institute for Food and Nutrition Research, in Battle Creek, Michigan, the US. The company considers a global approach to R&D and innovation, expansion and adjustment in its portfolio to meet consumer needs around the world. In FY2016, the company invested US$182 million on its R&D activities” (MarketLine, SWOT Analysis Overview, p. 1). Lastly, Kellogg’s most valuable core competency is their wide geographic presence. Kellogg’s diverse geographic operations help lessen risk associated with the dependence on a particular market. Having a wide geographic presence helps Kellogg’s increase its revenues while decreasing business risks. Kellogg Company is one of the world’s leading producers of 16 Running Head: COMPREHENSIVE BUSINESS PLAN ready to eat breakfast cereals and holds a strong market share within the industry (MarketLine, 2016). Pricing: Costs The total cost of a quart of Yo-Bran will be $6.99. This number is based on the fixed and variable costs that go into making the product. The main ingredients in Yo-Bran include nonfat Greek yogurt, granola clusters, and fresh fruit. Variable costs are “periodic costs that varies in step with the output or the sales revenue of a company. Variable costs include raw material, energy usage, labor, distribution costs, etc” (Business Dictionary). On the other hand, fixed costs are “periodic costs that remain more or less unchanged irrespective of the output level or sales revenue, such as depreciation, insurance, interest, rent, salaries, and wages” (Business Dictionary). When it comes to Yo-Bran, variable costs, including labor and distribution costs will be around $3.00 per unit produced. On the other hand, fixed costs will be around $2.00 per product produced. In total, production will cost around $5.00, which leaves us with a $1.99 profit on each unit of Yo-Bran produced. Fixed Costs Variable Costs $2.00 $3.00 Pricing: Pay Since Yo-Bran is a unique product, not many of Kellogg’s direct competitors offer a Greek yogurt based cereal with granola clusters and fresh fruit. However, Yo-Bran can be compared to yogurt parfaits. When it comes to quick and ready to eat yogurt parfaits, McDonald’s takes the cake. Based on McDonald’s breakfast menu, their parfait cost $1.00 Running Head: COMPREHENSIVE BUSINESS PLAN 17 (Secret Menus). With that said, a quart of Yo-Bran will cost $6.99. I believe consumers will be able and willing to pay $6.99 for Yo-Bran over a McDonald’s parfait. If you get a parfait for breakfast every day from McDonald’s a consumer will be spending over $7.00. A quart of YoBran that will last a consumer longer than a week only costs $6.99. The consumer will also be saving on the time it takes to drive to McDonald’s and wait in line to order their parfait. Yo-Bran will allow the consumer to prepare and enjoy their breakfast in the comfort in their own home. Pricing: Preferences Younger consumers are endorsing healthy eating habits with a willingness to pay a premium (Nielson, 2015). According to Nielson, 33 percent of millennials, Yo-Bran’s target market, say it’s very important to eat healthy and 29 percent of them say they are willing to pay a premium for healthy food (Nielson). With many consumers preferring a healthier product for breakfast, it aligns perfectly with Yo-Bran’s purpose to make breakfast healthy. It’s important that consumers understand the health benefits of Yo-Bran compared to normal breakfast cereal, which will be important in the marketing and product strategy when Yo-Bran is unveiled. Pricing: Strategy The pricing strategy that will be employed with Yo-Bran will be penetration pricing, which is when “the price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased” (Marketing Teacher, p. 2). Penetration pricing is used for new products in the industry as a way to gain market share. This is a perfect way to start marketing the Yo-Bran product with a low price and gradually increase it over time. This discounted price will help grab large numbers of consumers to try the product and hopefully recommend it to their friends and family. The total price for a quart of Yo-Bran is $6.99. Running Head: COMPREHENSIVE BUSINESS PLAN 18 Refinement: Evaluate the Success Qualitative goals are subjective and are measured by observations rather than statistics (Worthy, 2016). Examples of qualitative goals include reputation, taste, feel, smell, image, and leadership (Business Dictionary, 2017). These goals are predictably much harder to measure but are equally as important as quantitative goals. “Knowledge of these aspects is gained through observation combined with interpretative understanding of the underlying thing or phenomenon” (Business Dictionary, 2017). Qualitatively, Kellogg Company must evaluate their brand image as well as the taste of Yo-Bran. It’s very important for Kellogg’s to retain its brand image through innovation. One of Kellogg’s most important characteristics over the years has been their positive and popular brand image among the industry and community. Kellogg’s many brands are positively reputed and attract attention from consumers not only in the North American market, but also in emerging markets. Kellogg’s various products coupled with its well-known brands enables the company to attract a broad customer pool (MarketLine, 2016). This positive image has been built through producing exceptional products, excellent marketing campaigns, and helping out the community. To measure their brand image goal, surveys will be sent to customers asking them questions regarding their satisfaction with the brand. It will also include a section for ideas and comments to help improve the brand where it is lacking. Of course, one of the most important qualitative goals regarding Yo-Bran is the taste. If the product lacks in taste, consumers will be less likely to buy it which will hurt the overall goal of increasing market share and revenue. In order to measure how people perceive the taste of YoBran, a taste test will be necessary. The taste test will involve a small sample of Yo-Bran and a 19 Running Head: COMPREHENSIVE BUSINESS PLAN questionnaire to be filled out after the test. The questionnaire will include questions about the product and what the consumer liked and disliked about the taste. From this survey Kellogg’s will be able to gather valuable data about Yo-Bran. Figure 1. Yo-Bran Taste Test 1. What do you dislike about the product you just tasted? 2. What do you like about the product you just tasted? 3. Please indicate how much you like or dislike the product you just tasted using the following scale: Like Very Much Like Moderately Like A Little Neither Like Nor Dislike Dislike A Little Dislike Moderately Dislike Very Much 7 6 5 4 3 2 1 Running Head: COMPREHENSIVE BUSINESS PLAN 20 On the other hand, quantitative goals are much easier to measure. These goals can be measured and verified and involve objective quality of a thing or phenomenon (Business Dictionary, 2017). Quantitative goals will be easier for Kellogg’s to monitor since they have a numerical identifier. With that said, one way Kellogg’s could quantitatively measure the success of Yo-Bran is through sales and overall revenue brought in by Yo-Bran. In order to evaluate the success of Yo-Bran, Kellogg’s must evaluate the sales of Yo-Bran compared to the company’s overall sales. By doing this, Kellogg’s will be able to see how YoBran has affected Kellogg Company’s revenue. This will allow senior leadership and executives to see the positive or negative impact Yo-Bran is having on their company. Due to the amount of products Kellogg’s has, they will use 5 percent of their advertising budget to advertise Yo-Bran. To make best use of this advertising budget, Kellogg’s will use more of a digital marketing strategy with Yo-Bran in order to strategically target their demographic of healthy eaters in school or in the workforce. As outlined in Milestone One, the total cost to make Yo-Bran is $5.00. Kellogg’s will start selling Yo-Bran at a price of $6.99. This price will have to be monitored to see if consumers are choosing alternatives that give them more value for $6.99. If so, the price of Yo-Bran will have to be reduced and in turn profits will fall. However, if price remains steady and profits continue to climb, Yo-Bran will continue to be sold in stores. Tracking these goals with be very important. The qualitative goals will be tracked by Kellogg’s Customer Service and Quality Control teams. These teams will gather customer feedback from both the customer satisfaction survey and the taste test on a monthly basis. The Quality Control team will be tasked with handling the taste test and making sure the feedback is reported to the Marketing Department and Senior Leadership. On the other hand, the customer Running Head: COMPREHENSIVE BUSINESS PLAN 21 satisfaction survey will be handled by the Customer Service team. Feedback will be collected and presented to the Marketing Department. The quantitative goals will be measured and data will be collected on an ongoing basis and will be reported on a monthly basis by the Marketing Department. The data will be presented to Senior Leadership and Executives. Product revaluation will happen on a yearly basis. Refinement: Feedback Loops In order for Kellogg’s to determine their consumers overall satisfaction with not only their brand but with Yo-Bran, a customer satisfaction survey will be introduced. These surveys will be online and will be provided with a coupon for filling out the survey. The survey will be provided at a URL on the bottom of the consumer’s receipt of purchase from the store. After filling out the survey the consumer will be awarded a coupon for 15 percent off of any Kellogg’s brand product. This survey will help determine the consumers overall perception of not only the Kellogg’s brand but of Yo-Bran as well. The results of the surveys will be presented to the Marketing Department on a monthly basis unless otherwise notified. A sample of Kellogg’s customer satisfaction survey is included in Figure 2 below. 22 Running Head: COMPREHENSIVE BUSINESS PLAN Figure 2. Kellogg’s Customer Satisfaction Survey: 1. How satisfied were you with Yo-Bran? Very Satisfied Moderately Satisfied A Little Satisfied Neither Satisfied Nor Not Satisfied Not Very Satisfied 5 4 3 2 1 2. How satisfied are you with the Kellogg’s brand? Very Satisfied Moderately Satisfied A Little Satisfied Neither Satisfied Nor Not Satisfied Not Very Satisfied 5 4 3 2 1 3. Would you purchase Yo-Bran again? Yes No 4. If you wouldn’t purchase Yo-Bran again, what would you do to make it better? 5. Please provide us with your overall feedback about Kellogg’s and Yo-Bran. Running Head: COMPREHENSIVE BUSINESS PLAN 23 This survey will help Kellogg’s determine how people are reacting to their brand and to the Yo-Bran product. These questions are aimed to find out why consumers are or are not buying the Yo-Bran product and also to see how people feel about the Kellogg’s brand. It’s important to offer some sort of incentive for filling out the survey, otherwise people wouldn’t fill it out. The 15 percent off coupon will entice more people to fill out the survey which will help Kellogg’s understand their consumers. Refinement: Other Factors When introducing a new product to the market place there are all sorts of obstacles to overcome in order for the product to succeed. With that said, many people believe that 80 percent of new products fail; however, the actual product failure rate is around 40 percent (Castellion, 2013). Many people who have ideas for new products think it’s the best idea yet. This might be true, but what happens when something goes wrong. For example, one factor that could hinder Yo-Bran’s ability to succeed would be if the product begins to make people sick. This could lead to a recall of the product and could possibly lead to the mistrust of the Kellogg’s brand and could lead to revenue and market share loss. Many people choose to buy Kellogg’s products because of the trust they have in the brand. That loss of trust could really hurt Kellogg’s. Another factor that could help Yo-Bran is that Kellogg’s is a world leader in the breakfast cereal industry. When you think of breakfast products many people think directly of Kellogg’s. This will really help Yo-Bran when they go to introduce the new product to the public. More people are willing to try a new product from a brand they trust then one they don’t. This factor will help Yo-Bran get off the ground running faster than many other new products in the market. Running Head: COMPREHENSIVE BUSINESS PLAN 24 Conclusion: Kellogg’s Yo-Bran is the perfect new product to keep up with the healthy and quick breakfast food trend. With that said, introducing a new product is no easy task and there must be a plan and goals set in place in order to track success. Kellogg’s brand name gives them an advantage in that many people prefer to try new products made by brands they trust. Having a taste test and customer satisfaction survey in place will help Kellogg’s track the success or failure of Yo-Bran in the future. Yo-Bran will benefit from Kellogg’s large brand portfolio and Kellogg’s brand name as a whole. Kellogg’s is also an industry leader in keeping up with consumer trends and Yo-Bran is the perfect prdocut for the latest consumer trends of all-day breakfast and fast food breakfast. Yo-Bran is also a healthy alternative to many breakfast cereals. One ethical concern with Yo-Bran involves the community impact when transporting the product. This could cause traffic and air pollution from the trucks. Yo-Bran has the ability to be a leader in the healthy breakfast cereal market if it’s able to lean on Kellogg’s brand name. Running Head: COMPREHENSIVE BUSINESS PLAN 25 References: Avey, T. (2012, November 29). What’s for Breakfast? Discover the History of Cereal. Retrieved on April 18, 2017 from http://www.pbs.org/food/the-history-kitchen/history-of-cereal/ Bonigala, M. (n.d.). Kellogg’s Adopts New Target Market. Retrieved on April 23, 2017 from https://www.spellbrand.com/kelloggs-adopts-new-target-market Business Dictionary. (n.d.). Variable Cost. Retrieved on April 23, 2017 from http://www.businessdictionary.com/definition/variable-cost.html Business Dictionary. (2017). Qualitative. Retrieved on May 20, 2017 from http://www.businessdictionary.com/definition/qualitative.html Business Dictionary. (2017). Quantitative. Retrieved on May 20, 2017 from http://www.businessdictionary.com/definition/quantitative.html Castellion, G. (2013). Myths About New Product Failure Rates. Retrieved on May 21, 2017 from https://newproductsuccess.org/white-papers/new-product-failure-rates-2013-jpim-30-pp976-979/ Chamlee, V. (2016, May 17). Americans Are Increasingly Obsessed With Breakfast. Retrieved on May 6, 2017 from https://www.eater.com/2016/5/17/11691604/us-breakfastconsumption-rise Huen, E. (2016, November 30). 5 Top Food Trends You’ll See In 2017. Retrieved on May 6, 2017 from https://www.forbes.com/sites/eustaciahuen/2016/11/30/5-food-trends-youllsee-in-2017/#20fe78c45fc1 Running Head: COMPREHENSIVE BUSINESS PLAN 26 InfoScout. (n.d.). Kellogg’s Consumer Insights. Retrieved on April 23, 2017 from http://infoscout.co/brand/kelloggs?ab=b&utm_expid=75303912-24.l6L7NHOEQzeM9P-hvusJw.1&utm_referrer=https%3A%2F%2Fwww.google.com%2F Kellogg’s. (n.d.). Business Summary. Retrieved on April 19, 2017 from http://investor.kelloggs.com/business-summary#overview Kellogg Company: Consumer packaged goods - company profile, SWOT & financial analysis. (2016). Basingstoke: Progressive Digital Media. Retrieved from http://ezproxy.snhu.edu/login?url=http://search.proquest.com.ezproxy.snhu.edu/docview/ 1850338659?accountid=3783 Kellogg company 2006 company profile edition 1: SWOT analysis. (2006). (). Bromsgrove: Aroq Limited. Retrieved from http://ezproxy.snhu.edu/login?url=http://search.proquest.com.ezproxy.snhu.edu/docview/ 213118167?accountid=3783 Linshi, J. (2015, February 12). Skipping Breakfast and Decline in Kellogg’s Cereal Market. Retrieved on April 18, 2017 from http://time.com/3705987/skipping-breakfast-cerealkellogg/ LocalDirective. (n.d.). Psychographic Market Segmentation: What Is It? Retrieved on April 23, 2017 from https://www.localdirective.com/what-we-do/marketsegmentation/psychographic/ MarketLine. (2016, May 27). Kellogg Company: SWOT Analysis Overview. Retrieved on May 3, 2017 from http://advantage.marketline.com.ezproxy.snhu.edu/Product?pid=5FB4FD4C4040-442B-9D47-47F7E6667FD9&view=SWOTAnalysis Running Head: COMPREHENSIVE BUSINESS PLAN 27 MaRS. (2009, December 6). Setting goals for a new product launch. Retrieved on May 20, 2017 from https://www.marsdd.com/mars-library/setting-goals-for-a-new-product-launch/ Mullins, J & Walker, O. (2013). Marketing Management A Strategic Decision-Making Approach. New York, NY: McGraw-Hill. National Pasteurized Eggs, Inc. (2016). 2016 Food Trends: All-Day Breakfast and More! Retrieved on May 6, 2017 from http://www.safeeggsfoodservice.com/cracking-edgeemails/foodservice-resources-edition/2015-11/ Nielson. (2015, April 02). Younger Consumers Endorse Healthy Foods With A Willingness To Pay A Premium. Retrieved on April 23, 2017 from http://www.nielsen.com/us/en/insights/news/2015/younger-consumers-endorse-healthyfoods-with-a-willingness-to-pay.html Nielsen. (2013, January 22). Global Consumers More Likely To Buy New Products From Familiar Brands. Retrieved on May 20, 2017 from http://www.nielsen.com/us/en/pressroom/2013/global-consumers-more-likely-to-buy-new-products-from-familiar-b0.html PR Newswire. (2015, March 9). Kellogg Company Named One Of World’s Most Ethical Companies. Retrieved on May 7, 2017 from http://www.prnewswire.com/newsreleases/kellogg-company-named-one-of-worlds-most-ethical-companies300047352.html Rooney, J. (2012, May 10). Kellogg’s Completes Major Brand Overhaul. Retrieved on April 18, 2017 from https://www.forbes.com/sites/jenniferrooney/2012/05/10/kelloggs-embarkson-major-brand-overhaul/#7712b47d43e5 Running Head: COMPREHENSIVE BUSINESS PLAN Secret Menus. (n.d.). McDonald’s Menu Prices for Today. Retrieved on April 23, 2017 from https://secretmenus.com/mcdonalds/full-menu/ Spector, D. (2014, March 25). 38 Nutrition Experts Reveal Their Favorite Things To Eat For Breakfast. Retrieved on April 19, 2017 from http://www.businessinsider.com/what-donutritionists-eat-for-breakfast-2014-3 Study.com. (2017). Feedback Loop: Definition & Examples. Retrieved on May 21, 2017 from http://study.com/academy/lesson/feedback-loop-definition-examples-quiz.html Tuttle, B. (2016, March 07). Why Cereal Makers Might Be Gloomy on National Cereal Day. Retrieved on April 23, 2017 from time.com/money/4249752/national-cereal-day-salestrends-breakfast/ Worthy, A. (2016, January 12). Measuring Performance Goals: Qualitative vs. Quantitative. Retrieved on May 20, 2017 from http://kinetixhr.com/measuring-performance-goalsqualitative-vs-quantitative/ 28

Tutor Answer

chemtai
School: UC Berkeley

please find the attached file. i look forward to working with you again. good bye

Running head: IMPLEMENTATION PLAN

Implementation Plan
Name
Tutor
Institution
Course
Date

1

IMPLEMENTATION PLAN

2

Physical and Technological Resources
Capital resources. In order to fund production, marketing, and distribution of the
new product, Kellogg`s Company will need an infusion of capital through exploring various
capital contribution options. The new product will be funded through ploughing back of
profits.
Operational resources. In order to successfully implement the new product,
Kellogg`s will need various resources such as a manufacturing facility for Yo-Bran. The
company will also need to make room for more resources of additional staff, who will focus
on the new product. The additional staff members will be recruited to ensure that there is
sufficient staff team to deal with the additional needs of production, marketing, and
manufacturing of the new product, as well as in running other operations-related tasks. A
proper working space and sufficient information systems such as computers and new
telephone lines will also be necessary.
Experts. For successful implementation, the new product’s design and production
will be carried out through a support team of experts. These individuals will provide expertise
and train employees on how to successfully develop and launch the cereal product.
Technologies. Some of the relevant technologies that will help cut cost and ensure
efficiency in operations include; robotics and ERP. These can be used in enhancing
communication in the production process. An active website will also be needed for smooth
advertising of the product. Manufacturing of Yo-Bran will require precision in preserving the
ingredients and in ensuring quality of products. Keeping a digital data system will help
deliver real-time updates and overview of the process, thus ensuring accuracy and
minimizing downtime which could be caused by stock out. The production process will also
rely on formulaic production methodologies and detailed product recipes, thus ensuring that

IMPLEMENTATION PLA...

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