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NESTLE - Marketing Concepts | Report

   

Added on  2020-02-05

11 Pages3480 Words58 Views
MARKETINGPRINCIPLES

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Elements of marketing process.........................................................................................11.2 Benefits and costs of marketing orientation.....................................................................22.1 Macro and Micro Environment........................................................................................22.2 Segmentation criteria .......................................................................................................32.3 Targeting tactic ................................................................................................................42.4 Impact of buyer behavior in marketing activity .............................................................42.5 Positioning tactic .............................................................................................................53.1 Developing the product to sustain the competitive advantages .......................................53.2 Arranging distribution in order to fulfill the convenience related needs of buyers .........53.3 Setting the prices as per market condition .......................................................................63.4 Arranging the promotional activity in order to attain the marketing objective ...............63.5 Extended marketing mix for Nestle .................................................................................7TASK 2 ...........................................................................................................................................7CONCLUSION ...............................................................................................................................7

INTRODUCTIONMarketing is combination of many activity which use to transfer of goods from producerto consumers such as shipping, storing, advertising and selling. Marketing is backbone of everyorganisation, without marketing business cannot survive. As context Nestle chosen as workingorganisation (Dibb and Carrigan, 2013). This study help in understand the concept used byorganisation and processes which follow by company. These study help in understand the use ofmarketing concepts in organisation such as segmentation, targeting and positioning. It findhelpful to take overview of elements of marketing mix used by Nestle. The study provideguidelines about use of marketing mix in different contexts at Nestle.TASK 1 1.1 Elements of marketing processThe various elements of Nestle in marketing process are as follows:Analysis of the market and its environment:- Nestle use strategic tools for analysemarket such as PESTLE, SWOT, porter's five forces and others. It helps company inmaking important decisions related to market growth and future planning. These toolshelps Nestle to understand current market environment so that accordingly they candevelop products.Identification of target market:- Through analysis the market Nestle target a specialsegment of people for product and services. The company divide the whole market indifferent segment according to their nature and then select one from it for working.Setting marketing objectives:- Marketing objective of Nestle is to increasing the brandvalue with profit maximisation. These also focus on corporate social responsibility,diversification and creating value through teamwork (Henley, Raffin and Caemmerer,2011).Marketing mix decision:- At next Nestle focus on marketing mix of its products andservices. The marketing mix of company include channels of distribution, pricingdecisions, etc.Control and implementation:- This element used by Nestle to assess the level ofeffectiveness of strategy and possible improvement in particular strategy.1

1.2 Benefits and costs of marketing orientationMarketing orientation is a model of business which focus on delivering productsaccording to customers need and wants. These include customer orientation and competitionorientation as its components. Company can design its product on the basis of product orientedapproach. The decisions of company mainly based on customers needs and wants about theproduct rather than thinking what is right for market. The main benefit of market orientedapproach is that it is customer centric. It help in identify customers need for specific attributes orfeatures in products so that company can quickly take decision about changes in productattributes (Parker and et.al., 2011). This approach helps in finding demand of customers. AsNestle produce product according to needs of customers, hence it give competitive advantage tothe company.Marketing orientation have some disadvantages also. For market orientation companyneed to conduct research which is give high cost to company. Customers orientation requires lotof money for marketing research.2.1 Macro and Micro EnvironmentThe factors of macro environment like people, society, law, environment etc. affects itsfunctioning directly indirectly. Micro environment factors like customers, competitors, suppliersand intermediaries etc. also have the major impact on its functioning. Macro environment factors : Presenting here the influence of macro environmental factors byusing PESTEL analysis.Political factors :Political factors have the power to intervene the government and theeconomy of the country, it has to face the political pressures of the country in which it isworking. For example due to political matters governments imposes taxes and as a resultNestle has to increase its product prices to recover such taxes from the customers, and itimpacts negatively the sales because customers become reluctant to buy the product onincreased prices (The Impact Of Micro and Macro Environment Factors on Marketing,2015). Economic factors :Economy of a country also affects the sales of the products of Nestle.For example if the country in which Nestle selling its products, is having a goodeconomic conditions, the consumers of Nestle brand will be more and the demand of thenestle's product will increase. 2

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