Principle of Marketing Report: Nestle Dates Chocolate Product Launch

This report analyzes Nestle's marketing plan for launching a new dates chocolate product. It begins with an executive summary and introduction to marketing principles, followed by a description of the methodology used for gathering primary and secondary data. The findings section delves into Nestle's existing brand values, brand identity using Kapferer's Brand Identity Prism, and the segmentation, targeting, and positioning (STP) strategy for the new product. The report also examines the target market, market trends, and competitive landscape, including an explanation of the new dates chocolate product and its comparison with competitors like Green & Black’s organic chocolate. The report concludes by highlighting the importance of strategic marketing principles, such as STP and marketing mix, for a successful product launch. References to relevant books and journals are included.

Principle of Marketing

EXECUTIVE SUMMARY
The project is based on Nestle which is planning to launch a new chocolate with the aim of
providing customers a healthy option in the segments which is loved by all. For this, research is
conducted and information is gathered from both primary and secondary sources. On the basis of
this research the need of the dates chocolate was identified and to support this various strategies
are formulated and analysis are done so that it can launched successfully.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
METHODOLOGY..........................................................................................................................4
FINDINGS.......................................................................................................................................4
Existing brand and Brand Values...........................................................................................4
Description of the Target Market...........................................................................................5
Analysis of the New Market, Including Trends.....................................................................5
An Explanation of the New Product.......................................................................................6
Competition............................................................................................................................6
Conclusions......................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing principles are the fundamentals of the marketing mix with the help of which the
companies promote their products and services by formulating various strategies and policies. In
the principle of marketing all the 4p’s of marketing are included such as product, price, place and
promotion (Bhandari and Bansal, 2019). In this report Nestle is taken into consideration which is
multinational food and drink processing conglomerate. They have been offering baby food,
breakfast cereals, pet foods, coffee and tea etc. The annual sales of the company with their total
products are estimated to be US$1.1 billion. Now the company is launching new chocolate dates
chocolate which are healthy for the customer. In this report the brand value of the company is
discussed along with the description of target market and analysis of the new market and trends.
Along with this the explanation of the new product is also given in the report.
METHODOLOGY
For launching this new product it is important for the company to conduct research and
gather data as with the help of this they can analyse the competitors of the products and the
strategies adopted to market such product. To facilitate this the secondary data is gathered from
various sources, while for identifying the needs of the customers primary data was gathered
through interviews, feedback forms and questionnaires.
FINDINGS
Existing brand and Brand Values
Brand is a name, logo, symbol etc. which gives unique identity to the product or service. It
makes them easily recognisable by the customers and to differentiate themselves from others.
Brand extension is a strategy with the help of which developed brand can be used by the
company for promoting any new product (Payne, Frow and Eggert, 2017).
Kapferer’s Brand Identity Prism: This model facilitates to understand the brand identify on
the basis of its characteristics. With the help of this model the brand image and its impact can be
analysed. It has six factors which reflect externalization and internalisation which are given
below:
Physique The quality of the product of Nestle is good and its red colour makes it easy
recognisable which contribute to their brand image.

Relationship They target personalisation with the customer which adds value to their brand.
Reflection They tries to connect with the people which reflects their concern towards their
customers.
Personality The company aim to offer wide range of quality products which reflects their
perception for the society (Chernev, 2018).
Culture Nestle is committed to their responsibility, vision of providing better quality
products of the products along with a wide variety.
Self image Ethical responsibilities are met by Nestle, also focuses upon human relations
which improve their brand image.
Description of the Target Market
For identifying the target market the strategy of segmentation, targeting and positioning is
used by the company which is given below:
Segmentation: Nestle segmental their market on the basis of geographical factors such as
warm, hot or cold; demographic factors such as age, income, occupation; behavioural factors
which includes perception of the people such as health conscious etc. For the new dates
chocolate they can use similar segmentation strategy (Palmatier and Sridhar, 2017).
Targeting: Nestle analysed different market ion the basis of size of the market, growth,
attractiveness etc. and on the basis for dates chocolates they can focus upon the people who are
activity in physical workouts as they are health conscious.
Positioning: Nestle promote their products with different sources as per their target market
and d\for dates chocolate they must promote through magazines, pamphlets and advertisement.
Analysis of the New Market, Including Trends
For analysing the new market and the trends it is important to consider various internal factors
which are given below:
Political Factors Regulations for the food standards and marketing actions are
increasing in UK but they consider all such factors which offer
positive impact.
Economic Factors With the changing budgets of the customers make them cost conscious
and this can has impact on the products launch.
Social Factors But the changing mindset of customers for healthier products along

with various government initiatives is a positive trend.
Technological Factors e-commerce is a developing technological platform as their products
can be promoted efficiently and awareness can be created among
customers on large scale.
Legal Factors To deal with the regulations imposed on international level can affect
the launch of dates chocolates in UK.
Environmental
Factors
Environmental concerns such as packaging are an emerging trend but
Nestle has already been taking such issues into consideration (French
and Gordon, 2019).
An Explanation of the New Product
The new product which the company is planning to launch is Dates chocolate which
contain all the healthy ingredients such as nuts, natural sugar of date fruits, dry dates and other
essential ingredients. The chocolates are packed into the safe and eco-friendly wrappers as they
can be recycled. The cover contains all the necessary information about the products as they are
labelled well.
Competition
Nestle dates chocolate Green & Black’s organic chocolate
The chocolate is for people who are health
conscious and are priced average due to which
it can be afforded by the most of the people.
Also it is brand extension of Nestle due to
which it can become recognisable to others
easily.
They offer orgasmic chocolate and due to
changing perspective of the customers it gives
stiff competition. But the prices of the
chocolate are quite high also it known to a
specific group of people.
Conclusions
It is concluded from the above report that it is important for the companies to identify
various aspects related to marketing so that they can effectively launch any new products.
Formulation of various strategies such as STP, marketing mix, identification of the brand identity
enables in successful launch of the product.

REFERENCES
Books & Journals
Bhandari, R.S. and Bansal, A., 2019. Usage of social media for cause-related marketing
campaigns. JIMS8M: The Journal of Indian Management & Strategy. 24(4). pp.36-43.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
French, J. and Gordon, R., 2019. Strategic Social Marketing: For Behaviour and Social Change.
SAGE Publications Limited.
Palmatier, R.W. and Sridhar, S., 2017. Marketing strategy: Based on first principles and data
analytics. Macmillan International Higher Education.
Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution,
development, and application in marketing. Journal of the Academy of Marketing
Science. 45(4). pp.467-489.