The Importance Of Strategic Marketing Plan For Nestle Marketing Essay

The Importance Of Strategic Marketing Plan For Nestle Marketing Essay The definition of FMCG is Fast Moving Consumer Goods which is alternative for CPG (consumer packaged goods) inclusive of production, marketing and distribution. FMCG are durables that are consumed regularly. The industry involves selling, supply chain management, production, financing, activities that generate an income on sales due to fast turnover. The purchase cycle of some of these items is small in comparison to other durables. 1.1 FMCG industry economy FMCG is wide industry with many competitors. The number of manufacturers is growing. The investment in this industry is also growing. 1.2 Common FMCG products Some of the examples of FMCG products are: * Coffee, * Tea, * Dry cells, * Greeting cards, * Gifts, * Detergents, * Tobacco and cigarettes, * Watches, * Soaps, * Plastic goods, * Paper products, * Batteries, * Bulbs, * Cosmetics Some common FMCG product categories include: * Food and dairy products, * Glassware, * Paper products, * Pharmaceuticals, * Consumer electronics, * packaged food products, * Printing and stationery, * Household products, * Photography, * Drinks One of the leading companies in Sri Lanka that is well known for FMCG is Nestles. 2.0 Introduction Nestle Lanka PLC deals in the manufacturing of food and beverages in Sri Lanka .The food items are mainly dairy products. The company produces noodles and coconut milk powder products too. The brand names used by Nestle Lanka PLC are, NESTOMALT, MAGGI, NESPRAY, MILO, and CERELAC. This company in globally situated with the Head office in Sri Lanka. 3.0 Areas looked into in the strategic plan Introduction SWOT Analysis STPD Analysis BGC Matrix Michael Porters Five Forces Model Brand Recall Value Future Trends Marketing Strategy Marketing Targets from the financial year 2010-2011 The 4 Ps-Products, Promotion, Price, Place Marketing Research Marketing Budget Implementation Controls 3.1 The Noodle Market Basically made of flour under modern production facilities. Each production requires a good for consumption certification. Other than bread noodles in Sri Lanka has a quite a large demand. Noodles differ according to the raw material used. It also differentiated according to the size of the noodle. Some of the popular noodles are Rice vermicelli in Sri Lanka, Beehoon in Malaysia, Mee fun in China, Bifun in Japan, and the list goes on. But the largest consumption is by China and Japan. 3.1.1 Maggi Noodles Maggi is very popular among Sri Lankan as the 2 minutes noodle. This is an instant product. Although this was popular among busy women in the urban areas, the semi urban women who made it a point to cook each day, was extremely concerned of the nutrition value of the food that their children had turned a blind eye to this product. Although there was a lot of money spent on advertising, Maggi sales were slow. Months of research showed Nestles that there target market was wrong. They needed to target the children for they were the ones who enjoyed the flavour. Maggi moved from being a convenient product to fun product. The slogan went on to say Fast to cook, good to eat. Maggi was aggressively promoted by sponsoring childrens events, giving free samples, media advertising showing a 2 minute preparation to feed hungry children after play. The sole purpose being communicated of the benefits and convenience of this 2 minutes meal.5.JPG It was in late 2000 that the instant soupy noodles were introduced. The ad will bring a smile in many as you hear the words Appi podi sellamak karamu, Ammi kiyana kota kanna, bonna In addition Nestles offered other Maggi products like sauces, ketchups, seasonings, etc., but the noodles was the most popular of them all. There was a decline in the market with Prima put out an instant noodle that was palatable to Sri Lankans called Prima Kottu Mee. But Nestles was quick to counter act with spice flavoured Maggi noodles, which helped win back the lost market share. There after Maggi had very little competition, till early 2008 when information spread on the unhealthiness of the substance in the sachet. 4.0 SWOT Analysis SWOT analyses Strengths, Weaknesses, Opportunities, and Threats of the business. SWOT looks in-depth into internal and external factors that affect the objective of Nestles noodles. Strengths Market leader, Brand loyalty, Distribution channels, Advertising strategy Weaknesses Heavily dependent on One flavour ,Minor distribution problems, Health related issues Opportunities Unexploited rural markets, Increasing number of working youth, Innovative flavours for Sri Lankan taste buds Threats Strong presence of regional competitors, Competitive pricing (Prima), Affinity of Sri Lankan to Chinese food 5.0 STPD Analysis of Maggi Noodles Segmentation: Based on lifestyle and habits of urban families Targeting: Kids, Office goers Positioning: With statements such as 2 minute noodles and Easy to cook, good to eat Differentiation: Taste, Flavours, Packaging 6.0 BCG matrix The BCG matrix is known in many names. (Aka B.C.G. analysis, B.C.G.-matrix, Boston Box, Boston Consulting Group analysis) The creator is Bruce Henderson for the Boston Consulting Group in 1970. Helps businesses to use analytical tools to allocate resources in strategic management. bcg.bmp 6.1 Michael Porters Five Forces Model Porters five forces were developed by Michael E. Porter in 1980. This is an analysis of competitors and their strategies. This is an important tool when structuring a strategic process Porter identifies forces affect all markets and sectors and their profitability within the industry. With the information acquired from the Porters five the Nestles will be able to decide ways to manipulate the industry. Rivalry among Competing Firms Rivalry among competitors is very fierce. There are scarce customers because the industry is highly saturated and the competitors try to snatch their share of market. Market Players use all sorts of tactics and activities from intensive advertisement campaigns to promotional stuff and price wars etc. Hence the intensity of rivalry is very high Bargaining Power of Consumers Bargaining power of consumers is also very high. This is because switching costs of most of the goods is very low and there is no threat of buying one product over other. Customers are never reluctant to buy or try new things off the shelf. Potential Development of Substitute Products There are complex and never ending consumer needs and no firm can satisfy all sorts of needs alone. There are plenty of substitute goods available in the market that can be re-placed if consumers are not satisfied with one. The wide range of choices and needs give a sufficient room for new product development that can replace existing goods. This leads to higher consumers expectation. Potential Entry of New Competitors Does not have any measures which can control the entry of new firms. The resistance is very low and the structure of the industry is so complex that new firms can easily enter and also offer tough competition due to cost effectiveness. Hence potential entry of new firms is highly viable. Bargaining Power of Suppliers The bargaining power of suppliers of raw materials and intermediate goods is not very high. There is ample number of substitute suppliers available and the raw materials are also readily available and most of the raw materials are homogeneous. There is no monopoly situation in the supplier side because the suppliers are also competing among themselves. 7.0 Marketing Strategies 7.1 Financial objective To increase profit by 15% from the profit declared as at Dec 2010. The budget for the marketing promotion is Rs. 2,000,000/- Budgeted Profit Loss Account 2011-2012 Rupees in Millions11.gif Sales 25 Cost Of Goods sold 5 Gross Sales 6.jpg 20 Administrative Expenses 1 Marketing Expenses 2 R D 0.5 Promotion 1 Distribution 0.5 Marketing Research 1 Miscellaneous 0.5 7.2 The 4 Ps Product: Introduction of a healthier noodle. A red rice flour to be introduced. Increase the fibre contents. Add artificial nutrients. Make the product cheaper for the rural fork. 100 grams, 200grams, 400 grams packets to be introduced. Price: Healthier noodles to attract health conscious clientele. A family pack to be introduced at a discount of 5%. The packet that goes at Rs 40 to be sold at Rs.35.9.jpg Place: Large distribution network. Distribution to small shop lets. Have a mobile van distributing samples at a Sunday fair. Get a renowned chef famous among the rural fork e.g.: Mr.Pubilis Silva to demonstrate certain dishes with the use of Maggi noodles. Promotion: Communicate to the public the health aspects in consuming Maggi noodles. Advertise using rural children running through paddy fields to capture the hearts of semi urban. Use young public figures, icons; brand ambassadors may it be sports like Tehani Guruge for Squash, Charith Rajapaksha for Cricket under 17.or child actors and actresses. Promote in schools. 7.3 Time line 7.4 Future trends 7.4.1 Objectives 8.jpg Introduction of characters that attract the attention of kids. Organizing of programs and competitions for kids at Vihara Maha Devi Park or children schools. Cooking demonstrations with the use of Maggi- awards and hampers for innovative recipes. 8.0 Research methodology Target Area: Small towns Customers: Kids, House wives Shop sample: Minimum 25 Customer Sample Size: Minimum 75 8.1 Implementation Controls Monitoring, review and control will be done by the Director Marketing at Nestles. Monthly review with Director Finance and CEO of Nestles. 8.1.1 Areas of monitoring Implementation of marketing plan Actual to targeted goals. Gap of analysis Corrective action Redo marketing plan after review 9.0 Conclusion 9.1 Re-launch of Maggi Till 2008 Maggi was a core brand for Nestles. It was at the beginning 2011that Nestles decided to go healthy with new tastes and added nutrition.http://www.google.lk/images?q=tbn:ANd9GcToIkd3Q-v9CuxtPAD15wZFf4IAgSx-xGqb2D46M3x6eTCEjqFd4bzSFA 17.jpg 9.2 Maggi takes the Health Route In May 2011, Nestles introduced Maggi Rathu Kakulu.

Bandura’s Social Modeling

Albert Bandura argues that personality is shaped not only by environmental influences on the person, but also by the person’s ability to influence the environment. Social learning states that thinking is an important determinant of behavior.The inclusion of cognitive viewpoints within a behavioral framework has been a relatively recent trend, especially apparent in the work of personality learning theorist J.B. Rotter. Rotter believes that the most important variables in determining personality are the person’s expectations concerning future outcomes and the values of different reinforcements that might occur in a particular situation (Atkinson et al., 2000; Smith et al., 2001).In other words, a person’s behavior depends on what he expects the outcome to any particular action to be and what those outcomes are worth. The likelihood that someone will be aggressive when trying to return a merchandise to a department store would depend then, on that person’s e xpectation about whether or not aggression will work (Atkinson et al., 2000).In Bandura’s viewpoint, human motives (Atkinson et al. 2000; Papalia, 2002).   With this premise, the theory is basically leaning toward the philosophical idea of freedom.   Man is free to chart his course and how he is supposed to fulfill his various needs; i.e. his physiological dimension. In addition, the manner with which he carves himself in a particular niche that satisfies his psychological domains is also based on his own volition.There is no flavor of unconscious thoughts pervading motivation like when the idea of psychological instincts being interpreted within Maslow’s understanding; in contrast to this notion, any individual can basically control their own behavior.This theory believes on the capacities of human nature to achieve what man wants to achieve rather than be held captive by forces within him or in his external world; it is the internal determinants such as we may ch oose skills to lie dormant or latent (Papalia et al., 2002; Smith et al., 2002). For example, i may not imitate aggressive behavior unless i am provoked or/and believe that I am more likely to be rewarded by it than punished for it.Since the premise of this theory hinges on freedom, a person’s characteristics therefore are developed by social influences. According to Bandura and later by personality theorist Rotter, Observational Learning,   accounts for most human learning. It occurs when, as children, in my case for instance, I observe my parents cook, clean, or repair a broken appliance.Biology or heritability is deemphasized, rather the value of being introduced on a particular aspect or several aspects of human experience is basis or the basis for the development of human characteristics. There is evidence that observational learning for simple â€Å"single action† tasks, such as opening the halves of a toy barrel to look at a barrel inside, occurs as early as o ne year (Smith et al., 2001).This theory eventually emphasizes individuality or uniqueness, as it fundamentally illustrates in its assertion that every one has the capability for breakthroughs in circumstances which may be difficult. Man is also capable to learn and communicate about himself and others (Papalia et al., 2002; Smith et al., 2002).Observational learning is not mechanically acquired through reinforcement. We can learn by observation without engaging in overt responses at all. It appears sufficient to pay attention to the behavior of others (Atkinson et al., 2000).Since man is free, unique and has the possibilities to accomplish whatever he is set to do, it is also asserted that man is proactive: he can choose how to respond in any situation and may even extend himself to advance his interests, both positive and negative at whatever goal or in whatever circumstance he may be in (Papalia et al., 2002; Smith et al., 2002; Atkinson et al., 2000).The theory overall is hopefu l and positive in every essence.   Individuals then have all the chances to make their lives fulfilling, impact others on virtues of honesty, charity and generosity, if and when he determines himself to be one.Likewise, he can also influence and negatively affect those that surround him when he chooses to do so. In this perspective then, an individual has high hopes of changing his attitudes and disposition, as well as his physical arrangements in life (Papalia et al., 2002; Smith et al., 2002).

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Essay Hamlets Flaws and Sanity - 1085 Words

William Shakespeare’s â€Å"Hamlet† is a classic revenge tale. â€Å"Hamlet† is well known for the famous soliloquy â€Å"To be, or not to be† which I find best to describe Hamlet’s character. Hamlet was given the task to avenge his father’s death. As the story progress Hamlet begins to question his worthiness, questioning his very existence. Hamlet’s emotions influence his every action throughout the story. Hamlet is not the typical hero that readers label; he has many imperfections and displays his own manner of heroism. I will talk about Hamlet’s flaws and his sanity in this essay, and with them opinions of others as well as my own. I will also include my thoughts about the central theme and symbols in the story. Hamlet actions don’t†¦show more content†¦The source of Hamlets uncertainty is that he cant decide whether or not to kill Claudius. What makes this hard for many people to accept as a flaw is that Hamlet comes up with acceptable reasons to justify his delays. Hamlet questions himself, his goal, his reason for being alive, but for every question an opportunity to kill Claudius was exposed and he didnt take it. Hamlet, was without a doubt confused, and probably scared, but the key question here is, was Hamlet in his right mind? Was he stable enough to attempt such a deed as to kill his king without questioning his every thought, reason, and his judgment of himself? Hamlet was not a person of sound mind; in fact, probably insane to the point of a breakdown, simply because of all the events that occurred to him was right after each other. Hamlet was not able to recover each event that he faced took an immense toll on him. His procrastination kills not only himself, but also his mother, his girlfriend, and others, but it also leaves the reader full of doubt. Of course it was obvious that Hamlet will kill the new king, but was it necessary to have so many deaths due to one mans uncertainty? Hamlet was not only fighting a battle against hi s father murderer, but a war within his self, blinded by insanity from reality. Hamlet was obsessed with death and killing Claudius and thisShow MoreRelatedHamlet, By William Shakespeare1492 Words   |  6 PagesOne must always be able to see the flaws in their idols. The play Hamlet centers on protagonist Hamlet as he questions whether to take revenge against his uncle for killing his father or leave him alive. Written by William Shakespeare in the early 17th century, Hamlet addresses motifs of indecisiveness, insanity, as well as death and suicide. Furthermore, the majority of these motifs are left up to interpretation. 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