The Marketing Director Of Nestle Company Marketing Essay

The Marketing Director Of Nestle Company Marketing Essay Introduction The assignment investigates about a marketing strategy, tactics for a new product innovation and product improvements of Nestlà ©, one of the fastest growing FMCG Company with its product innovations. In this assignment, the STP analysis and tactics of marketing is applied for the new product design of the existing product from Nestlà ©. Firstly, Wheelwright and Clark, 1992 state that New product development (NPD) is due to three reasons such as increasing international competition, the challenging markets and the diverse or various technologies. Montoya- Weiss and Calantone (1994) add that the success or failure of NPD depend on the performance and factors done by organisation according to the strategic factors, development process and market innovation skills. The total word count of the assignment is () excluding references and appendices. The overview of the company (market and existing portfolio of its products and brands) Nestlà © is a Swiss multinational packaged food company formed by the merger of the Anglo- Swiss Milk company in 1905 (Nestlà ©, 2012). It is not only the largest food company in the world possessing 8,000 brands and a range of products but also one of the shareholders of LOreal, the worlds largest cosmetics company (Tom Mulier, 2011). The logo of Nestlà © symbolizes not only the activities of the company but also illustrates the average modern family of two children where the tree symbolizes an oak and the birds thrushes. The blue colour logo characterizes purity, care and goodness (famouslogos.us, 2012). Figure 1: The logo of Nestlà © (Nestlà ©, 2012) Nestlà © has sustained great performance in UK and Ireland which is due to its well- known brands, Kit Kat and Nescafà © and gained good sales growth through the year, 2012. Moreover, its successful innovations such as Nescafà © Azera and Maggi brand had made the company, Nestlà © outstanding from its competitors- both major competitors (Unilever and Mass Incorporated and Kraft foods) and competitors from local markets. The company has invested more than  £500 million to launch next generation of world class manufacturing facilities in the UK. Additionally, the company will hire more than 300 employees for their Nescafà © Dolce Gusto plant, which has increased the market share to supply not only to the UK market but also to export markets around the world (Nestlà ©, 2012). The type of the NPD for Nestlà © Company Trott (1998) defines new products as the developments or variations on existing formats. Although the products have appeared before in the market, it is still new to the market due to the changing innovation of including application advice for the product. Among the brands from Nestlà ©, the new product development would be the combination of dairy products (condensed milk and sugar) and coffee in one packet. That is also known as the additions to existing product lines (Trott, 1998). What makes it different from the previous packaging is not because having more than one product but because of launching new product innovation which is different from its competitors products. Figure 2: New Product Design for Nestlà © Our new product will meet the functional needs such as Biogenic needs or Biogenic drives often known as physiological drives and satisfy the physical needs such as food, water, air and shelter (Solomon and Bamossy et al, 2010). According to the Maslows hierarchy of needs, it satisfies the physiological needs which in turn dominate an individuals attention (Chisnall, 1995). Importantly, the needs of people differ according to the individuals unique history, learning experiences and the cultural environment and background (Solomon and Bamossy et al, 2010). Moreover, Motivation is the psychological process that allows consumers to recognize the needs (Wells and Prensky, 1996). Therefore, the new product of Nestlà © will definitely give positive motivation to customers where they will find out the positive mood, pleasure and comfort where it will lead to operant conditioning where the attractiveness of the product will provide the consumers through their benefits (Evans, Jamal and Foxal l, 2009). Segmentation through Demographic, Psychographics, Values, Culture and Influencing factors Clearly, the purpose of segmentation, a creative process is to fulfil customers needs and requirements creating competitive advantage for the company. However, Weinstein (1987) argue that companies treat everyone is their customers not targeting as segments groups in most companies. Macdonald and Dunbar (1998) explain that according to the Ansoff matrix, our new product includes in extending existing products to new segments. They suggest that a clear and realistic goal is necessary for a company as it plays a crucial role in the marketing planning process. Therefore, select segmented customers play an important role as targets for marketing activity and then develop a unique marketing program to carry out the prospects. Segmentation creates opportunities for the company where they can meet customers needs not only for today but also for the future (Macdonald and Dunber, 1998). Firstly, to know who to focus on and why, then we need to identify attractive segments from United Kingdom to know the consumer criteria. The Ethnicity results of 2001 Census show that 85.67% of proportions of total UK population are White British. 1.8% is of Indian, 1% is of Black Caribbean and 0.4% is of Other Asian excluding Chinese. See more in Appendix (). According to Evans, Jamal and Foxall (2010), consumer psychographics consist of lifestyle, personality and self- image. However Ries and Trout (1972) suggest that learning Psychographics, we become to recognize and understand about the values, perceptions, lifestyle, attitudes and motivations of the people. The lifestyle groups of people from UK are self- actualizers, innovators, esteem-seeker, strivers, contented conformers, traditionalists and disconnected The Consumer Insights Social Value Groups (2005), 18% of UK population like to self- actualises. Antonides and Raaij (1998), claim that values play an important part in Christianity and West European Culture. The values of UK can be learnt according to the indexes of Greet Hofstede (1991). Ronen and Shenkar (1985) stated UK as one of the Anglo countries. According to Hofstedes maps, UK ranks small on Power Distance and weak Uncertainty. Besides, amongst the types of self- congruence and self concept motives, Jamal and Goode (2001) investigate that individuals with higher levels of self-image congruence prefer higher levels of satisfaction. Thus, the attitudes towards buying new product behaviour can change with Heider (1958) theory. Targeting for the new Nestlà © product The target market of Nestlà © would be demographic targeting (N generation and Generation X or Baby Busters). Adam Smith Institute (1998) mentions that Generation Y or the millennial generation sometimes known as N generation are between ages 16 to 33 year old in 2010. Coupland (1991) indicates that age ranges from 34 to 44 year olds in 2010 are Generation X or Baby Busters. Ahmad, 2002 remark that over 20 million people in UK are of baby boomers (45-65 year olds in 2010) which can be estimated as 25 million by 2021. Moreover, Benefits sought can differ according to the social classes. See the social classes of UK (2008) in Appendix. Middle class people consume healthier food than the low ones. According to Freuds psychoanalytic theory, middle class people show superego structure from their conscious mind and control their behaviour according to morals and values. Oppositely, people who grew up in poverty are observing for physiological and safety needs from Maslows hierarchy of needs. Therefore, we should motivate these people to have healthy nutrients. In order to attract new product of Nestlà ©, the influencers are important as people are usually addicted to what the influencer speaks. Therefore, M Evans and C Fill being cited in Evans et al (2010) explain that opinion formers are targeted first and after that opinion leaders may receive the information from the opinion formers. But Antonides and Raaij (2010) claimed that opinion formers are informed via social contents by opinion leaders as they know new products via mass media. So, opinion leaders can give positive or negative advice and further information to opinion formers as they are influenced by opinion leaders. Park and Lessig (1997) suggest that information influence helps a lot in motivating people buying behaviour as they ask first from relatives upon which products to buy when they consider buying a product. Consequently, the motivation can acquire from external environment (Evans, Jamal and Foxall, 2010). McGuire (1974, 1976) show that cognitive motives can make individuals need for being adaptively concerned with headed for the environment and for attaining a sense of meaning. He and Greenberg, (2009) explain that cognitive dissonance motivates customers of the inconsistency between their attitude and behaviour, and encouraging a change headed for sustainable behaviour. Evans, Jamal and Foxall (2010), suggest that Maslow hierarchy of needs shows the motivational hierarchy of people. Positioning Fifield (2007) states positioning possesses an idea or perception in the customers attention. While Shimp (2011) defines that positioning has two actions namely, brand in (the consumers mind) and against (competitive positioning strategies). However, Clancy and Krieg (2000) show that positioning is all about stating a short statement or message to imprint in customers minds. Nowadays, most companies are expanding their positioning strategies to appeal more segments (Kotler et.al, 2005). For new Nestlà © product, the communication message Time Saving is crucial to receive the customers attention (Evans, Jamal and Foxall, 2009). This would be positioning based on functional needs to deliver solutions to consumers current consumption-related difficulties or potential problems by telling that the brand has specific benefits capable of solving those problems (Shimp, 2011). It becomes product related attributes as it offers product advantages such as saves time, affordable and convenient to carry which in turns motivates customers and creates values for their wants. Nevertheless, Kotler et.al (2005) outline that the competitive advantage being low and high quality influence on products position. For Nestlà ©, firstly, Nestlà ©s current position in the mind of consumers will be supported where introducing unoccupied position which values consumers and allowing reposition the competition. Finally, a company should deliver and communicate the desired position to target consumers because the companys marketing mix- product, price, place and promotion support its positioning strategy. Importantly, Nestlà © should support its position through performance and communication avoiding changes that might confuse consumers (Kotler et.al, 2005). Marketing Mix Strategies Product Kotler et. al, 2005 explain product offers market for attention, acquisition which satisfies customers needs and wants. A product can be physical objects, services, persons, places, organisations and ideas. Actual product of new Nestlà © includes its features, design, band name and packaging. It is vital to gain strong brand equity to capture customers loyalty and preference (Kotler et.al, 2005). Aaker (1991) recommend that a brand is a distinguishing name or symbol (such as a logo, trademark, or pack design) intended to identify the goods and services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitiors. In order to launch the brand extension or brand stretching, new product can easily get recognition whereby saves high advertising cost. Essentially, a failure of brand extensions sometimes occur Brand dilution which may damage consumer attitudes towards other products as well (Kotler et al, 2005). For the new product, the original logo and name of Nestlà © would use. This could bring several advantages not only gaining customers attention because of creating a good product quality but also enabling the supplier to attract a loyal and profitable set of customers. As the package colour is of green and gold which is likeability legally protectable and made with higher- quality products. Packaging, an activity of designing the container or wrapper of a product for new Nestlà © can fulfil customers coffee breaks as it saves time and budget for them. For the new product, the logo and slogan will be the same as the original Nestlà © product. The design of the new product comes with 20 small packets inside a huge pack. Also the product is available with a small one whereas including 3 ingredients. This new packaging style would bring several benefits for the customers since it includes three products at the same time which offers the basic problem solving for them. They can easily carry and consume it whenever they go or can keep it since it comes along with zip-lock pattern. Moreover, it saves time for the customers when they are having a cup of coffee which in turn offers augmented benefits. Furthermore, it provides core benefits to middle class people. Since it is a consumer product therefore, consumers frequently purchase it for their own consumption. Furthermore, product quality has a direct impact on product performance; therefore, Nestlà © should link its new product quality to customers value and satisfaction (Kotler et.al, 2005). Nestlà © firstly should create quality level to support the new products position in the target market. Customer- driven strategy should introduce here to create a better quality for customers. The Product life cycle identifies a products sales and profits over its lifetime (Kotler et.al, 2005). During Introduction stage, since the product is new, the profits are negative or low because of the low sales and high distribution and promotion expenses. A rapid penetration strategy should apply to get fastest market penetration and largest market share (Kotler et al, 2005). If the new product meets market needs in the growth stage, sales will start increasing. Thus, the early adopters will begin buying and later buyers will start following their lead, because of the word-of- mouth. Later, new competitors will enter the market. It is essential to aware the product not to reach to maturity and to decline stage. The PLC of existing Nestlà © brands and new product is shown in Appendix (). Price Obviously, among the 4 elements of marketing mix, Price only can bring revenues. It is essential to avoid pricing which is cost-oriented rather than customer-value oriented. Since the segment and target market is carefully done, it is easy to set up the price for the new product. Being a new product, Nestlà © should apply market- penetration pricing while setting a low rice in order to attract large numbers of buyers and penetrate the market. Nestlà © should maintain its low price position to get penetration in the market. Among five products mix strategies, Nestlà © comes with product line pricing as there are cost difference between the products from the product line that have difference features and competitors prices. The selling price for the new product would be  £3 pounds for the whole packet which has 20 small packs inside. Being oligopolistic competition pricing, Nestlà © Company is always alert to its competitors strategies. Moreover, the customers perceptions of price effect on their buying decisions. Thus, if the new products demand falls by 10 %, when Nestlà © raises its price by 2 % the demand would be elastic occurring -5. However, if demand falls by 1% when the price is increased by 2%, inelastic demand occurs with -1/2 (Kotler et.al, 2005). Place Place is where transporting the right product to the right place at the right time to the customers (The times 100, 2012). It is known as Nestlà ©s distribution channel within marketing mix is to reach to its target market. New product of Nestlà © should be transported using indirect-marketing channels as below: The product is firstly targeted to consumers from UK in the introduction stage, it will distribute to all over the countries later. Marketing channel is part of customer value delivery network therefore; each channel adds value for the customers. The intermediaries of Nestlà © (wholesalers and retailers) take part a number of activities when delivering the products. For example: wholesalers can provide quicker delivery to the customers and retailers offer final link between the consumers and Nestlà © company (Kotler et. al, 2005). For the logistics functions, Nestlà © should store the goods in the warehouses while making stock available before the products are ready to be sold. Promotion The communication message Time Saving is crucial to receive the customers attention (Evans, Jamal and Foxall, 2009). In order to communicate with the target customers (external stakeholders), a variety of promotion methods will use with the purpose of Effectively attainting new customers by increasing customer base and Retention of existing customers by keeping up customer relations New product is going to be promoted through television, internet among the major media types. Nestlà ©s new product should Reach 70% of its target market during the first three months. I. Broadcast advertising (Television and Internet) The benefits would be good mass-market coverage and low cost per exposure. Frangi (2011) states that the proportion of media activities during the day time in UK as follow: For Nestlà © new product, an advertisement should create using Beyoncà ©s family (Appendix). Celebrity Endorsement promotes a sense of belief among the target audience and approves brand equity (Till, 1998). Moreover, since a celebrity can make advertisement believable (Kamins et.al;.1989), there will be certain awareness of the target group by breaking the disorder of ad and creating the ad and brand more obvious. As celebrity can help in brand name recognition (Petty, Cacioppo, Schermann, 1983), people will have a high recalling member for their favourite celebrity. Celebrities are appreciated and adored and respected by their audiences or fans and advertisers so, using stars as PR can influence the fans or customers towards the brand. Additionally, using Social networks Facebook, MySpace and Twitter could lead the customers to memorize the new product in a short period of time. It could especially attract to teenagers by looking at the proportion of their internet usage (Appendix). Proportion of adults who browse over social networking sites on the internet Conclusion Using the marketing mix creates a lot of advantages which brings customers satisfactions. Importantly, brand loyalty is necessary to make customers willingness to repeat purchase. It is essential to make a brand to be available in every shop including benefits such as good brand image, affordable price and packaging style. Marketing Strategies of Nestlà © would bring benefits along with the AIDA model. Attention (Awareness) attracts customers attention and awareness. Interest- creates advantages and benefits of Nestlà ©. Nestlà © should let its stakeholders know that fair ingredients include in it which is suitable to everybody. Mind will be fresh and everybody can concentrate on their work, after consuming the new product. Desire- The five performance objectives quality, speed, dependability, flexibility and fair price should consider getting customers desire. First error free goods should introduce which brings quality advantage to customers. Speed is important in providing goo ds and services to customers. Besides, doing or making things on time is important too. This is dependability. Next, flexibility requires fulfilling all customer requirements and dealing with all customer possibilities. Action- Customers action will meet as soon as they buy the new product. It is important to offer a value more than customers expectations. Thus, they have satisfaction which in turn creates them hard-core loyal and will unlikely to switch brands in the predictable future. As a recommendation, Nestlà © should consider internally and externally for its new product development. Internally, all departments have to work together, discuss and consider how they should make to build the brand image of new products and get the customers trust. Externally, it should consider about relationship, integrated and social responsibilities marketing. Nestlà © brand has long-term relationship with its customers, employees, suppliers, distributors, members of the financial community; shareholders and investors and other marketing partners (channels, distributors and advertising agencies). According to Kotler Keller (2006) Holistic Marketing is important in developing, designing and implementing of marketing programs, processes and activities. The relationship should not end in order to earn and retain the business. A strong relationship is essential to give a value which is more than customers expectations that would bring satisfactions and loyalty. Figure 1.1 Demography of UK in the year 2010 Classification of classes Explanations Lower middle class White collar workers Middle class Got tertiary education Upper middle class Earn higher incomes. They all are traditionally accomplished from private schools. Nouveau riche Working class, lower middle class Under class Long- term unemployed, elderly pensioners, economic immigrants, dependent on state benefits Upper class Statistically very few nowadays Skilled working class Blue- collar workers Work mostly in the construction and manufacturing factory. Unskilled and semi- skilled working class Blue- collar workers Work mostly in car factories, steel mills and textile mills Figure 1.3 Social classes of UK New product of Nestlà © Existing Nestlà © products

Claude Monet Research Paper Essay

Claude Oscar Monet was born on November 14, 1840 in Paris France, His father was a wholesale grocer and ship chandler which is how he provided for the family. Monet’s father and mother decided to move to Le Harve in 1845(Seitz, Pg 2). By the young age of 15 years old, Monet received a reputation as being a great caricature artist (Biography. com). The year 1857 was a tough period for Monet, because his mother died (Seitz, Pg 5). Two years after his mother’s death, Monet moved to Paris against his father’s wished to pursue a career in painting. While in Paris, Monet entered the the Swiss Academy of painting and became inspired by the work of Eugene Delacroix, Camille Corot, and Charles Daubigny (Biography. com). In 1860, Monet gets the honor of meeting Camille Pissarro and Gustave Courbet. It was during this time that Monet decided to take a break from painting and join the army in Algeria from 1860 to 1862. After serving his time in the army, Monet picked up right where he left off and started painting again. In 1865, Monet’s painting are submitted for the first time to the official salon where Camille Dondeux who was Monet’s lady friend at the time was featured in one of Monet’s paintings to be put on display(giverny. org). Monet’s first son Jean Monet was born in 1867 while he was in Sainte Adresse. One year after the birth of his son, Monet tried to commit suicide, shortly after his failed attempt at suicide, Monet receive a pension for this painting Mr Grauibert. After the outbreak of the Franco-Prussian War (19 July 1870), Monet and Camille took refuge in England in September 1870. While there, Monet studied the works of John Constable and Joseph Mallord William Turner, both of whose landscapes would serve to inspire Monet’s innovations in the study of color. In the spring of 1871, Monet’s works were refused authorization for inclusion in the Royal Academy exhibition. In May 1871, he left London to live in Zaandam, in the Netherlands, where he made twenty-five paintings. He also paid a first visit to nearby Amsterdam. In 1871, Monet’s father died and Monet returned to France. Monet lived in Argenteuil from December 1871 to 1878, Argenteuil was a village on the right bank of the Seine river near Paris, and a popular Sunday outing destination for Parisians this was the area where Monet painted some of his best known works. In 1874, Monet returned to Holland. It was during this time that Monet became recognized as one of the most honored and talented artist among the French painters because he was brilliantly successful in achieving the impression of a fresh view of nature (Seitz, Pg 9). This was a huge honor to Monet, because he himself described his paintings as Metaphysical naturalism in which he states â€Å"I am simply expending my efforts upon a maximum of appearances in close correlation with unknown realities. When one is on the plane of concordant appearances one cannot be far from reality, or at least what we know of it†¦. Your error is to wish to reduce the world to your measure, whereas, by enlarging your knowledge of things, you will find your knowledge of self enlarged. †(Seitz, pg 46) In 1874, Monet exhibits†Impression:Sunrise† at the first Impressionist exhibition in the studio of Nadar. Monet’s second son Michel Monet was born in 1878 and the family settles at vetheuil in the company of the Hoschede family(giverny. org). Monet’s wife Camille dies in 1879, two years after her death Monet and his sons move to Poissy. In 1883, Monet rents a house at Giverny which is where he would end up staying for the next 43 years(Arnold, Pg 16) Monet marries Alice Hoschede in 1892 and also paints the Rouen Cathedral series. Monet painted several views of the views of the Japanese bridge, during this time he took several trips to London to work on and paint views of the Thames(Arnold, Pg 20). In 1914, Monet had to suffer through the loss of another wife this time Alice Hoschede. Heartbreak would continue to follow Monet when his eldest son Jean died three years after Alice in 1914. During the years of 1916 to 1926, Monet worked on the twelve large canvas, The Water Lilies, which he offered to donate to France where the paintings were installed in an architectural space designed for them at the museum of the Orangerie in Paris France. Monet died of lung cancer on December the 5th in 1926 at the age of 86 and was buried in the Giverny church cemetery. Monet had insisted that the occasion be simple; thus only about fifty people attended the ceremony(Arnold, Pg 25) His famous home, garden and water lily pond were bequeathed by his son Michel, who was Monet’s only heir, and to the French Academy of Fine Arts in 1966(Giverny. org). Through the Foundation Claude Monet, the house and gardens were opened for visit in 1980, following restoration. In addition to souvenirs of Monet and other objects of his life, the house contains his collection of Japanese woodcut prints. The house is one of the two main attractions of Giverny, which hosts tourists from all over the world. In conclusion, Monet was one of the most known and respected French Impressionist artist in the world, who went through several ups and downs in his long career of painting. Monet created many pieces of artwork, but for most people his best painting was the â€Å" Impression, Sunrise† painting which earned Monet the title â€Å"The father of the movement† and also the title and honor of being named the founder of the movement of Impressionist

Introducing 250 Word Essay Samples

Introducing 250 Word Essay Samples How to Find 250 Word Essay Samples As a result, before you begin composing the paper, define the important tips that you will include in the primary area of the writing and don't step away from them in the procedure for work. Below, it is possible to find a detailed instruction on composing a 250-word essay. Writing is an art and it requires a lot of preparations to earn an ideal article. In summary, the meat of the essay was not there. When you compose the very first draft of your essay, there can be too many words in it, even if you didn't notice it. You'll discover a lot of sample essays, but you have to opt to find one which is. Thus, do not worry you will find the very best short essays from our business and can rest sure that the essays will adhere to the paper requirements. The Fundamentals of 250 Word Essay Samples Revealed Clearly, it's almost impossible to make it to the precise word count, therefore it can vary a little. Your orders will be carried out exactly as you desire. Somebody works part-time and doesn't have sufficient time to do all of the assignments. Tell our experts what kind of homework help on the internet you will need to get. You can trust the ideal essay help online. It's evident that most students find it challenging to submit totally free error sample essay for financial need scholarship since mostly they give plagiarized cont ent since they copy the specific information found on the web. Every student necessitates help with homework from time to time. The Downside Risk of 250 Word Essay Samples Having us to address any of the issues which you may face when coming up with scholarship essay topics will be recommended for you. Just make sure that you select an intriguing topic and have plenty of time in advance to polish your essay! Keep these ideas in mind the next time you compose an essay. Whatever you end up achieving here greatly depends upon determined upon the type of essay you're considering writing. Our writers also provide a few suggestions on the best way to write a very good college essay on the whole short story. So, make sure that you will find a helping hand in regards to writing your 250-word essay. There are hundreds and hundreds of essays delivered on daily basis, which means you need to be certain your ideas stick out from the rest and that you're able to give rise to the audience. If you only need to speak about something, think about precisely how to do it in another essay. Your thesis is the very first thing that you should consider in your essay. While it could be tempting to use all 250 words for discussing the subject of your essay, you shouldn't neglect the conventional structure of an essay. That means you can be ensured of fantastic scholarship essay examples. The Word Essay Samples Game Within this instance, the writer doesn't have proper command over the usage of commas namely they're missing in places they should have been added and added places they aren't required. The stories written by our writers aren't only precise and clear, but give a very clear view of the whole story in a brief period of time. All the content of your writing is going to be linked to this crucial concept, which explains why it needs to be the very first issue to write. It's always best to acquire another set of eyes. A good idea is going to be to encourage the reader to dive deeper into the topic and find out more about this issue from several sources. If it is a typical notion, concentrate on attempting to say it better than anyone else. Knowing the notion is able which may permit you to grasp the significance of the movie. As an example, maybe the writer didn't wish to wind up in the exact work as their parents. After you inform us about all of the paper information, we'll begin searching for an acceptable writer for your paper. The best thing of writing is that you're able to use your private style, provide a distinctive strategy and share your views with the world.

Globalization And Its Impact On Globalization - 1791 Words

Since the term globalization became a prominent feature of global interactions during the 1980s, different changes have taken place within the global political, economic, and social spheres which has in turn resulted in a judiciously interdependent world compared to previous eras (Christopherson, Garretsen, Martin, 2008). Globalization is mainly influenced by two overriding factors- liberation of global markets/economies coupled with the increasing development of new technologies. The latter nonetheless (technology) plays the function of a principle driving dynamism as well as an enabler of the process particularly in regards to global interconnectedness. Towards this end, Technology allowed globalization to produce fresh opportunities frontiers relating to diverse nations as well as organizations on one side while portending different challenges presented by entry barriers as noted by Bauernfeind, (20). 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