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Essays on Market Penetration, and Market Share for Cornflakes Brand, Brand Performance, Average Purchase Frequency, Share of Category Requirements Assignment

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The paper “ Market Penetration, and Market Share for Cornflakes Brand, Brand Performance, Average Purchase Frequency, Share of Category Requirements" is an exciting example of an assignment on marketing. Every business must make sure that it occasionally provides an analysis of its product and the market so that they can ensure that they are always ahead of the game. To do this effectively, a number of facets must be looked into. This paper has shown how these facets and metrics have been used to increase the brand visibility in the market. In this paper, the cornflakes brand has been taken as the specimen and several factors looked at.

These are brand performance, awareness, and salience. From the inferential statistics and analysis conducted herein, it will be found out that these three metrics are key in improving brand visibility and revenues. Part B: Sec. 1 Brand performanceQ1. Corn Flakes will be analyzed following a number of analysis parameters in this paper. These parameters are; Market share (MS) Average purchase frequency  Market penetration (MP) Category buying rate(CBR) Share of category requirements(SCR) Sole loyalty (SL) The Market share of Corn flakes MS= {117/318}*100= 37%. The market share metric shows how strong a product is, that is, the extent of command that the product has in the market (Varadarajan, 2010, p. 120).

37% figure, which is the market share for the cornflakes products has been achieved through dividing sales of cornflakes over the total sales of cornflakes in the cereal brand category. Then the figure has been multiplied by 100% to give the percentage rating. The figure means that cornflakes command 37% of the market share. Even though this is not the dominant figure, it is certainly the highest in this particular market, meaning that people prefer to buy cornflakes more than any other brand in this particular market. Average purchase frequencyAverage purchase frequency = 117/51=2.3.

Average purchase frequency figure shows the number of times an individual buys a particular brand (Ashcroft, 2010, p. 90; Taiwo, 2010, p. 25). In this market, the ratio is 2.3 for the cornflakes brand. This means that people buy this product 2.3 times. This is done over a certain stipulated amount of time. in this market from the calculations, this 2.3 figure for APF for cornflakes marks the highest figure.

The implication is that more people buy more of cornflakes over the other brands in a certain period of time. Market penetration for cornflakes brandPenetration = {51/70}*100= 73%. The metric of market penetration for a product shows the level or the extent to which this particular product has been able to command attention from the buyers (Fornell & Wernerfelt, 1987, p. 338). It shows the responsiveness that people have pertaining to this brand (Karadeniz, 2010, p. 16). In this case, the market penetration for cornflakes is 73%.

It means that the product has a 73% exposure and attention in this market category. This figure is normally reached by taking the number of clients who purchase this particular brand in the market, in this case, 51, divided by the total number of the people in this market category, that is 70. In interpretation, a figure of 73% implies that the product market penetration is good because it is beyond average at 50%. Despite this success, the product has not been able to achieve a 100% market penetration meaning that there are still some areas where the product hasn’ t been able to cover.

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