In this record itll help to understand the concept and procedure for marketing, how to use the segmentation, focusing on and placing and understand the individual elements of the expanded marketing mix as well as how to use marketing mix in different contexts. In learning result 01, we're bringing out a new product to the market. In that learner is expected to understand and apply marketing planning process to release the new product. And in this task student must do a display to unveiling the new product to the market. In learning final result 02, student should do a situation evaluation for the organization selected and choose marketplace for the new product and propose a positioning technique for the new product. In learning results 03 students is able to design and recommend the correct marketing mixture for the new product and in that student is able to design product features, charges the merchandise, and explain the channels of distributing for the new product. And lastly in learning end result 04 students must discuss the choice segments to the product and suggest possible market progress options t o the new product.
Introduction
This report is about the concepts and key points in marketing process. We are able to use this marketing ideas and rules to introduce a new product to the market. By introducing a fresh product to the marketplace, organization is able to using the planning process to kick off th new product. In such a report Nestle Firm is introducing a new healthy milk powder to the marketplace plus they were doing situation examination to the business and positioning strategy to the merchandise. Nestle corporation is design good product features, brand name, new distributing ways and costing the merchandise. Finally they doing some market growth to the product using Ansoff's Matrix. By reading this report reader can have a clear understanding of marketing concepts and the way to use these principles to a fresh product.
L01 Starting New Product To The Market.
L02 - Situation Analysis For the Nestle Corporation
Marketing Environment
The marketing environment surrounds and influences upon the organization.
Internal Environment
The Macro Environment.
The Micro Environment
Competitors
Employees
Pressure groups
Intermediaries
Micro
Environment
Local residence
Customers
Financiers
Suppliers
Owners
The Macro Environment
SWOT Evaluation (http://www. scribd. com/doc/30768475/Swot-analysis-Nestle-Company, 2012)
Strengths:-
Brand advantages - Nestle has quite strong brand name and it's easy to disperse among the customers.
Production innovation - THE BUSINESS has been continually introducing services to the marketplace.
Research and Development - Nestle has worldwide systems of centers 17 locations in four continents. An international staff of 3500 engaged in search for innovative services and remotivate exist ones.
Market Share - Higher level of market share and that individuals all over the world trust and identify Nestle as a big brand.
Low Cost - They are simply low cost providers which permit them to not only to overcome competition but also edging forward operating excellence, technology, renovation, product availability and communication is major strengths.
Weakness:-
Mature market - One major weakness in Nestle is that it is entering into marketplaces that are already major and can provide a hardcore competition to new entrance.
Exports
Supply String - The Company has a complex supply string management.
Opportunities:-
Expansion - potential to grow smaller towns and other smaller geographies, which is parents are famed for like breakfast time cereals, smarties chocolates, carnation, etc.
Product offering - the business gets the option to increase it's product folio by adding more products.
Global hub - since processing some products is cheaper in ASIA than in any other continent.
Threats:-
Competition - Competition from the planned and unorganized sectors.
Changing consumer trends - increase consumer shelling out for consumer durable resulting in lower shelling out for FMCG products. ( fast paced consumer goods ).
International marketing expectations -
Sectoral woes - increasing prices of raw material and fuels and increasing presentation and manufacturing costs.
PEST Evaluation for Nestle Corporation
It is very important that an organization consider its environment before beginning the marketing process.
Political Environment:-
Nestle is a good political spouse in politics. These were donating money for the chief executive applicants in presidential election.
Nestle organization support many programmers and tasks essential services and interpersonal services.
Ex: - assisting the "tackling the globe water crisis" project.
The federal increasing the costs of essential goods and it will affect to the business and the new product.
By enough time government change and the insurance policies also get evolved, it'll influence to the customers behavior and to the business also.
Economic environment:-
Nestle corporation is a solid brand one of the consumers and developing a good business circuit in the market.
Increasing of interest rate will influence to the customer behavior and it'll affect to the company.
Income distribution influence to the organization since when income distribution doesn't happened evenly customer action get improved.
The problems of the world financial prices impact to the united states and it'll affect to the customers and to the business.
The plentiful in
Social Environment:-
Family background and their culture will cause to their patterns in buying products, and it'll cause to the business.
Customers education level also impact to the organization, because if they don't understand about the merchandise well, they never going to buy it.
Customer's beliefs, culture, and religion will cause to what they going to buy? Because it get transformed customer by customer.
The tendency of the world will have an impact on on customers habit, and it'll have an impact on to the business.
Technology Environment:-
Organization can integrate the most advanced technology to their procedures.
Organization structures and design has been the progression of the info technology.
The use of technology can build good romance with suppliers and customers.
Technology will cause to increase of the organization and they can improve their sales.
Segmentation Criteria
Market segmentation is the department of market into different homogenous groups of customers. Market segmentation is with regards to the specific characteristics of the product. These criteria can be divided by such as age and gender, or other differentiation such as location and income.
Segmenting Consumer Market for Nestle
For the newly introduced 'Strawberry Flavor Sustagen' in Nestle organization, our company using the demographic criteria for the segmentation. Demographic segmentation consist of dividing the market into groups based on such as get older, gender, family size, income, profession, education, religion, competition and nationality. In here Nestle corporation use age, gender and income as the demographic criteria's for the Strawberry Flavor Sustagen. This product is a low-fat milk powder.
Our company focusing on the young adults and adults as the prospective market for the Strawberry Taste Sustagen, because adults and adults are using Sustagen mostly in the market which product is a low-fat milk powder. Strawberry Flavour Sustagen can use both men and women. And Nestle Company targeting the consumers below 8000 income, because the product will not highly cost. In this case many customers will attract to this new innovative Strawberry Flavour Sustagen.
Positioning Strategy
Positioning is a concept in marketing which first of all introduced by Jack port Trout. A firm, something or a brand must have placing concept to be able to survive in the market. If you don't position your business your competition will not let you to survive on the market. Nestl Firm is chosen the Product Placement as the Placement Strategy for the New Strawberry Taste Sustagen.
In the market, you can find various kind of healthy dairy powder brands that contend with the Strawberry Taste Sustagen, but nestle will endure as always in the market because Nestle is a good, strong brand in the market. In this recently present product there're various sizes. This Sustagen is highly possessed of good characteristics and it's really good for the health and it'll ideal for reduce the unwanted fat. The majority of diabetic's patients are adults and individuals, because of that we aim for the adults and the individuals to the new product.
Nestle corporation will introduce this product to the supermarkets and we're give a free chance to your customers to have an experience with our newly unveiled product. By this we can catch the attention of more customers to your product. Our company going to create this new product to the people in rural area also. Because there's a lot of people in rural areas which may have the ability to buy this type of a product.
L03 - Design and Recommend the Marketing Mix
What is a product? Product is whatever is able for satisfying customer needs. Features are characteristics of something that offer benefits to the customer.
Product Features and Producing the Brand Name
Nestle Corporation presented The Strawberry Taste Sustagen is not like normal old type of Sustagen. It's fully tasted with strawberry flavour and extra with mint. Sustagen is a world famous milk powder, which has customers all over the world. People all over the world know about the Sustagen and they tasted Sustagen. as a product it's quite simple to develop because it has a solid brand. Nestle Corporation unveiled this Strawberry Flavour Sustagen is the participant in Sustagen family and It's tasted with strawberry and mint. And nestle organization is expect to get many customers to this New Strawberry Taste Sustagen.
Nestle Company is growing the new product features to get more customers to the merchandise. Strawberry Sustagen is a wholesome milk powder that keeps the body healthy and get nutrition for the day. In the product it includes supplements that people need to our body for been healthy and maintains nutrition and substitute medicines. It's totally tasted with strawberry taste. Nestle corporation is decided to add more style of milk and mint taste to give a good flavour to the customers. And also this product has attractive color that everyone like and with a nice mint smell.
Distribute the brand new Product to the Market
When an organization going to add a fresh product to the marketplace, they must learn how to disperse the new product to customers. & most important things is organization must know how to carry the product in customer's hand. As the circulation concepts, Nestle Firm is using Consumer Market principle. First of all our marketing team is likely to distribute this product to Supermarkets in municipal and rural areas. Because middle level customers are approaching to supermarkets. Our marketplace is middle level course customers. As municipal areas, there are some middle level school customers in rural areas that can buy these kind of products. So our company decides supermarkets to release our services and send out through the supermarkets.
Pricing the New Product
Price is the amount of money or goods for which a thing is purchased or sold. The way you set the price to your product, will stay in the marketplace or it'll cause to leave the marketplace. For a pricing way for our new product, Nestle Firm choose the customer-based costs.
There are two factors that influencing for costing decisions. They are really inner factors and external factors.
Internal factors Rs,
Market talk about - 100
Maximum income - 150
Marketing strategy - 80
Costs - 90
External factors
Customer and channel
Partner expectation - 70
Competitive and
Related products - 90
Government
Regulation - 20
Final price Rs, 600
This is a good price our company may charge from the clients, because if our company fee high cost it'll cost to have a production lost on the market. Which means this our company guessed this price is good and attractive. Nestle Organization expecting that product will appeal to many customers.
Promote the new product
Nestle Corporation is looking to kick off our new product to the supermarkets and send out through them to the clients. Before our company is going to promote this new product to customers well. For that our company decides new advertising tips. Our first target is give the main idea to customers that new product is strawberry taste and it's good for the health. Targeting that first our company will made-up a curiosity in customers brain. For the, our company creates a strawberry arch in the entrance to the supermarkets, so when customers come inside to the supermarket, in the front some people with strawberry dresses to give the primary idea to customers. After that we give some leaflets to customers by producing the new product and our marketing team is ready to inform about the product and its own benefits. Finally we're going to provide a chance to your customers to flavor our new product. We're 100% sure our customers should our new Strawberry Favor Sustagen and they're going to surely use this for his or her day today life.
L04 - Market Development
(http://tutor2u. net/business/strategy/ansoff_matrix. htm)
After our new product enters to the market we must know how to keep our sales in a good level and exactly how to develop the product on the market. Nestle Organization is using the Ansoff's matrix as the marketplace growth option to build up the merchandise. The Ansoff's Development Matrix is a tool that helps businesses make a decision their product and market progress strategy. Ansoff's market/product expansion matrix suggest that a business endeavors to grow be based upon whether it markets new or existing products in new or existing market. The productivity from the Ansoff's matrix some suggested progress strategies that set the path for the business strategy.
Market penetration.
Market development.
Product development.
Diversification.
Our corporation advises Market Penetration and Marker Development as market development options for the new product. Market Penetration is a name directed at a rise strategy where in fact the businesses concentrate on offering existing products into existing market. Market penetration is to achieve another four more objectives.
Maintain or raise the market show of current product.
Secure dominance of expansion market.
Restructure an adult market by traveling out competitors.
Increase usage by existing customers.
Market Development is the name given to a growth strategy where in fact the business seeks to market its existing products into new market segments. There are lots of ways to use this strategy.
New geographical market segments.
New distributing programs.
New product sizing or presentation.
Different pricing procedures for attracts clients or new markets.
Using Ansoff's Matrix our company can do some changes inside our new product. Our company is hoping to boost the market by providing our new products in the rural areas in the country. Nestle corporation will present 500g Strawberry Sustagen packets to groceries in municipal and rural areas in the united states. Our marketing team is wanting to keep and develop the marketplace share.
And we is going to do some advertising programmers to build up our product. In that we're desire to 5% discount if our customers buy two Strawberry Sustagen.
Nestle Corporation is going to introduce this new product in to the International Market. Our marketing team is likely to export this New Strawberry Sustagen country like India, Pakistan and Bangladesh.
And also we're going to use new distributing stations to deliver our new product. Our team uses more agents to distribute the merchandise in cities and by door by door. They're totally informed about the product plus they always ready to give an training about the product.
Conclusion
In this article we can understand about the many elements of the marketing process and the huge benefits and costs of an marketing orientation for a chosen corporation. Understand the micro and macro environmental factors, segmentation criteria, targeting strategy and placing to the new product. Also how to build up the product features, brand and how to set a good price for the customers. How to distribute the product to the clients and promote the merchandise to the clients. In this survey can have a good knowledge of marketing mixes in several contexts. When doing this report we can have good knowledge about the market and the behavior about the market.
