Lucky Charms

Lucky Charms:

“Marketing” is the relationship between the organization and the target audience where the organization continues to provide products and services to accommodate the needs of the target audience. In every form of business, whether it is product based or service based, marketing is counted as one of the most essential ingredients for the organization’s success. Therefore it is important to analyze a company’s marketing approach towards its target market and also how well the marketing mix is been managed.

In order to understand the segment of marketing, our group will analyze the product “Lucky Charms” a brand of cereal by the General Mills food company of Golden Valley, Minnesota. The product was first introduce in 1965 with two varieties and soon became one of the top cereal brands among kids.

We begin our analysis on the marketing prospect of Lucky Charms by first focusing on the target market that the product servers currently. In order to reach the most suitable target market all possible markets will be analyzed by using different market segments, the behavior of each segment and how each market is been decided. Once the appropriate market is been identified, our group will focus on the four P’s of marketing Product, Place, Promotion and Price. Each of these categories will be analyzed thoroughly based on different factors that affect each P in the current market.

Finally, after a careful analysis on the current target market and the product approach towards each of the market P’s a careful analysis will be conducted on various recommendations concentrating the product Lucky Charms.

Target Market:

Though Generals Mills focus on all the age brackets for their healthier and delicious breakfast needs, Lucky Charms is a Kids’ specific brand with its product lineup designed to attract and cater to the children below and up to 12 years of age. Attracting its consumers demographically...