A Marketing Strategy for Nestles Milo Essay example -- Business Mana

A Marketing Strategy for Nestles MiloOverviewIn this outline I am going to discuss the key features of my merchandise merge and create my marketing strategy by apply the information winfrom my SWOT analysis, PEST analysis and a Competitive Audit. I amgoing to choose an argona of the reaping (Nestles Milo) that I feel needimproving and improve it. To achieve this Im going to intake the foursomePs to meet the objectives of Nestle and the needs of customers.I energize chosen to improve the packaging (the product factor of themarketing admixture) because I believe that it is inadequate in quality andit is the area that could pass by Milo that competitive edge. Also if Imgoing to move on it in the UK by dint of advertisements and processionalactivity it appearance should be at its optimum.The Marketing MixAll businesses need a marketing mix to achieve its marketingobjectives. The marketing mix refers to the factors known as the fourPs* growth* orchestrate* Price* proc essionIn marketing, product refers to both goods and service. Goods arephysical objects, such as sports clothing, home entertainmentequipment or food and drink. Services involve a gang of skills,information or entertainment, such as football match, use of aswimming pool or a theatre production. There are three criticalfactors to consider when developing a product* Product characteristics* Position of the product within the product life cycle* brandmark image of the productWithout one of these three factors the product will not sell to itspotential. Product characteristics like the brand are very substantialwhen developing a product. Branding is the process that gives aproduct or service a distinctive identity with the aim of creating a laughable image that will make it easily identifiable and separate fromits competitors. For example, in blind tests 51 per cent of people favor Pepsi. However, when customers can substantiate the brand that they aredrinking, 65 per cent say that they prefer Coca-Cola. What these 65per cent of people are in fact saying is that they prefer the brandrepresented by the Coca-Cola image rather than the product itself.Place involves the location and availability of a product or serviceand the method acting by which it is distributed to consumers. If a productor service is not ready to hand(predicate) to potential customers, then no matterhow well it has been priced and promot... ... be an avail to Milo because as stated in my SWOT analysis Sponsorshipthrough sporting events shows that Milo has an opportunity to expand.I would (again) like to promote the product Milo in the UK because itis stated in my SWOT analysis that Promotion hasnt been done in theUK and as a result of this competitors should have a competitive edgeover Milo. Also stated in my Competitive Audit Currently no promotionin the UK suggests that product awareness is minimal. The onlypromotion available to the UK on Milo is websites Websites promotionis available t o the UK as stated in my Competitive Audit. This maynot help the sale of Milo as it does not state in my CompetitiveAudit. This may not help the sales of Milo as it does not state wherepeople may be able to barter for the product. An opportunity that maysave money for Milo is by using advertising methods from Australia asMilo have Good sponsorship and adverts in Australia as stated in theCompetitive Audit. A disadvantage of this is that the UK populationmay prefer a different kind of promotion to those of Australia henceif promotion is not done correctly competitors will gain a competitiveedge over Milo.