Today I am sharing with you guys about Nestle's marketing mix.....
About Nestle:
Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest food company in the world, measured by revenues and other metrics, since 2014.It ranked No. 64 on the Fortune Global 500 in 2017 and No. 33 on the 2016 edition of the Forbes Global 2000 list of largest public companies.
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PRODUCT:
Nestle offers a wide range of products and has an strong depth and width of the products. There are different products that Nestle offers in different countries and the decision to sell which product in what country is based on the Demographic factors, Production costs, Demand fluctuation, and competition.
On a broader level, the product mix of Nestle consists of
1. Dairy Products: There are different Dairy products which Nestle has launched in the market which include Nestle Milk, Nestle Slim, and Nestle Everyday
2. Chocolates and Confectionaries: Nestle Kitkat, Munch, Polo, Milky bar, Crunch, Smarties etc are few products which Nestle offers under Chocolates and Confectionaries.
3. Coffee: Nescafe, Nescafe Dolce Gusto, Nespresso, Nescafe Cappuccino etc are few product offerings under the coffee category
4. Ready to Cook or Culinary, Chilled and Frozen foods: Nestle Maggi, Buitoni, Jacks, Herta etc are few Culinary, Chilled and frozen foods that nestle offers to its customers
There are different products which enjoy leader position for different product categories and have 2-3 products as cash cows in their product mix.
Price:
There are different pricing strategies that Nestle uses for its products and its variants.
Competitive Pricing: Majority of the products offered by Nestle are provided at competitive pricing. Nestle Maggi, Nestle KitKat, etc are offered at competitive prices in the market
Skimming Pricing: Products like Nestle A+ Slim, Nestle A+ Toned, Nescafe Coffee etc are few products which are offered are a price higher than their competitors. These products are targetted towards individuals who are health conscious and fitness enthusiasts and for that reason are priced dearer price.
Place:
Nestle products of the available all over the world. Due to its robust distribution channel, Nestle has been able to make a huge impact in the global market. The company has made sure that their products are available all over the world and the carter to a huge customer base.
The products are available both in the urban and rural areas. We find that this has helped in a way for the company. The places of distribution have made the products available to a lot of customers and the, in turn, has generated a profit for the company both in terms of customer base and the revenue. Nestle is a worldwide name and has made its name in almost more than 200 countries. This shows the distribution channel and the places where it has made its product reach. This gives an overview of the place and distribution strategy in the marketing mix of Nestle.
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Online Channels: Apart from having an extensive chain of Dealers and retailers, Nestle also offers products through online channels. Nestle has partnered with different online partners to reach out to a wider audience base.
Promotion:
Promotion plays an important role in the marketing mix of Nestle, the company uses a proper mix of ATL, BTL and Digital channels for creating awareness and promoting their products.
It is the strong product portfolio that makes it different from its competitors. Nestle uses all media like TV, hoardings, print, online ads etc for its promotion.
Nestle has a strong social presence will also allow it to interact and engage with its customers and get better insights about their products and other services.
The brand also relies heavily on BTL promotion and uses Vernacular communication for promoting themselves in different states and regions. The aim to use vernacular language and regional dialects is to connect and engage with the audience in a much better way.
Campaigns like “#StayStarted” and ” #ItallStarts” are few campaigns which worked wonders for the brand. Have a look at these gems from the brand.
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