Marketing assignment essay help: Noodles – Maggie marketing strategies
Introduction
The chosen product is “Noodles” and the brand “Maggie” is introduced by the company “Nestle. The paper consist information about the product “Maggie Noodle” product introduced by the Nestle company. The whole required information divide in numerous sections that provides in depth descriptive information about select product “Maggie Noodle’ to complete the whole assignment successfully. Product “Maggie” is one kind of Noodles that is come under fast food category. All the below sections are focuses on different required factors/ parameters that provides on real life case of the product “Maggie Noodle”. To understand the real life case that provides information about the product “Maggie Noodle”, its overall marketing strategies, marketing mix, its target market and proposed new ideas & concepts that add some values in the product or company. In the first section the paper provides introduction about the key topics that needs to covers within below sections in descriptive manner and present small introduction about the selected product “Maggie”. In the further sections the paper focuses and discuss on the other required topics that provides all the key required information and idea that provides in depth information about the topics. At the end in conclusion, the section consist summarize the whole discussion that provides quick understanding and overview of the discussions that consist in the essay in different sections. To complete the assignment real life case study the paper selected and used Maggie Noodles as a product that introduced as fast food and manufactured by the company’ Nestle. The Maggie Noodle promoted and known as a concept of “2 minute noodles” established a success journey by the Nestle. (Nestle.com, 2011)
There are numerous other brands introduced in the same product segment by the other company but maximum users prefer Maggie Noodle and Maggie Noodle has 90% market share. Numerous key characteristics Wide range of flavors, cook in 2 minute, easiest method and simple way to cook increase the popularity, affect consumption and demand in market. The company Nestle also used various effective and interesting strategies to promote the product as healthier product in the market and cater the product” Maggie Noodle” in effective and efficient manner. All key factors discuss in the above sentences describe the successful story of the Maggie. The Product/brand Maggie Noodle found in Switzerland in 19th century. Nestle Indian Ltd. introduced this product in India in 1982. With the help of innovative and creative promotion strategies, continuously innovation in the product in terms flavor and many other key attribute add as per customers’ requirement currently the brand/product “ Maggie Noodle” has presence or availability globally. All the discussed parameters and factors that indicate and highlight the key steps of the “Maggie Noodle” towards popularity the brand/product “Maggie Noodle” enjoying with 90 % market share. (Nestle.co, 2012)
As per the secondary sources the selected product “Maggie Noodle” contains important ingredients in the manufacturing process and the company also uses some nutritional ingredients to manufacture it. (Managementexplorer.com, 2011)
Marketing mix
Maggie Noodles was launched in India in the year 1983 and this brand has become the synonymous brand with the noodles. This brand is available in attractive packaging and different bright colors such as red, white, yellow and many others. Thus it has grown as the strong brand and it is positioned with the “fast to cook and easy to cook” approach. The history of this brand described about the vegetable food products and other important products. Thus this product is very easy and quick to prepare. It also believed in producing the different flavors of the products to attract and to maintain the customer for long term. After conducting different types of research, Maggie found that the children were the biggest consumers of their brand and they also believed that the advertisement campaign captured the kids segment and also the Maggie has shown the advertisement. (Foodprocessing.com, 2012)
Thus it has become the leading brand in the instant segment of noodles in India. The product enjoys the market share of 79.3% and this brand deals with the estimated growth rate of Rs. 200 crores. So, it has become the largest moving advantage for all over the world. Maggie has come up with new flavors and recently it had launched two important varieties such as Vegetable noodles. This also increased the demand of the healthy snacks and other segments.
To discuss the above asked question, the use of marketing mix will help to generalize the importance of the product among the consumers in certain aspects:-
- Product: Maggie noodles comes in 4 varieties such as:-
Maggie products: This is the original and the most widely used important flavor that is developed and is created in different sizes and packaging. This has come up with six different varieties in the consumer’s mind.
Chicken
Tomato
Vegetable Noodles: This variant of the product was launched in the year 2005 and this contributed to 11% values. This was the healthy trend for the snack.
Maggie is the market leader in its segment and it has no product to carry the competition and to deal with the further market. The improved use of new products will create the overall market place and this will also cater the needs of the consumers. This improves the taste and also helps to provide with better health related benefits. There are numerous bad of mouth came in the beginning about consumption of Maggie Noodle that is focuses on health perspective and also consumers were worry about its ingredients. Number of primary and secondary data focuses and provides information that customers haven’t clear and complete visibility about the ingredients and impact of the Maggie. With perspective to health in the beginning phase when Maggie introduced in the fast food market the level consumption were very less and consumer are not ready to accept the product and avoid it. The reason is the health concern. As per the slow and less response from the customers the company changes its promotion strategy and innovates and introduced vegetable noodles to control the humors and negative impact that were affecting the overall sales and consumption. Packaging involves designing the product to make it attractive for the consumers. This also helps to know the increase in the competition. Thus the company is associated with huge advertisements and marketing activities. This involves high development of product ranges and market for future growth. Thus it also helps with product expansion so as it increases the choices in front of the consumers. (Neste.in, 2012)
- Price: The pricing strategy of the different variants of Maggie Noodles is based on the important objective of maximization of the market share. It has different prices for different packaging schedules. Thus it also reduces the price of 400 gm pack of Maggie products. This attacks the competitors and increases the volume of sales. The revision in the pricing strategy created high volume of sales and also the pricing strategy of Maggie has been the high achievement for the better quality and high leadership. The segment of this product is fewer prices sensitive and it is open to premium priced target market segment. Thus it creates the major brand and also provides the differential pricing to the customer for better key differentiation. Thus the product pricing of the selected product is based on the high amount of values to the customers as it is compared to the most highly priced customers. The pricing strategy is revised on a continuous and the regular manner for the better market place and better environment.
- Place: This Company deals with growing trends of noodle segments. It also is focusing on intensive dealer and distributor’s network. It also has well established distribution network. Thus it is primarily available in metropolitan cities as well as other two tier cities. Maggie Noodles tied up with corporate houses and also it has been dependent on schools, colleges, hostels and corporate houses. Maggie Noodles is being sold through 2, 60,000 outlets. Product is distributed to supermarkets, grocery stores, convenience stores, kiranas shops, mall, semi-urban areas and many others. The packaging of product is based on the thick plastic sheets that allows easy and safe opening of the packet.
- Promotion: Maggie focuses on introducing new variety of products with different approaches. The company believes in advertisements, events and promotional tools and techniques such as events and experience in the form of innovation and celebrity endorsement, television advertisements etc. To create the positive image in the mind of consumers in the first challenge for the company foe its product “Maggie Noodle”.
In spite of all the key characteristics and several benefits the consumers were not using the product in frequent manner. So, create positive image or perception in the mind of consumer the company introduce and design several campaigns that emphasis on the health part and associate the product with health. (Freewebs.com, 2012)
Target Market of Product “Maggie Noodles”
Nestle Pvt. Ltd. introduced this product Noodles/Maggie to target young generation and mostly those users who live outside, do not live with their family due to their job and services, studies and numerous other key reasons. In the above discussed key characteristics and factors: Wide range of flavors, cook in 2 minute, easiest method and simple way to cook influence the consumer to consume it more and more. These target group/ markets identified the company. The rationale behind the popularity of the product is concept of 2 min Maggie Noodle and the organizational strategies that are associated it with health. Consumers are using this product” i.e. Maggie Noodle” because this product contains nutritional benefits and easy accessibility and price. The Maggie Noodle is added in good quantity of micro nutrients and help in providing vitamin A and other deficiencies. (Foodprocessingtechnology.com, 2011)
The target market of this product is related with the taste and the preference of the consumer. It is also based on the age group i.e. Children of 2-9 years of age, teenagers of 10-14 years of age, students of 18-22 years of age, young adults of 15-29 years of age etc.
Children and teenagers are the largest target group of this product and the age group between 4 and 14 years possess different tastes and preferences. For this segment, the instant Maggie Noodles brings great taste and changes in terms of shaped noodles. This is really innovative and children love to eat this product when they are hungry.
The students and the age of studying: The students and the age of studying not only targets the 2 minutes prepared Maggie but they look for convenience and suitability that becomes possible with Maggie. This is also very tasty and keeps the regular meals better in the regular manner. (Yadavar, 2012)
Evaluation and challenges of market
The market evaluation is done as follows:-
The first market is for “Children and teenagers”. They are the largest and the widest target group of this product and the age group lies between 4 and 14 years possess different tastes and preferences. For this segment, the instant Maggie Noodles brings great taste and changes in terms of shaped noodles. This is really innovative and children love to eat this product when they are hungry. (Mofpi.nic.in, 2012)
The second target group is students: The students and the age of studying not only targets the 2 minutes prepared Maggie but they look for convenience and suitability that becomes possible with Maggie. This is also very tasty and keeps the regular meals better in the regular manner. They look for availability and better reach so they can eat the food while studying and in their hectic lives.
Nestle group has started taking measures to reform the health as well as the wellness. This company also started focusing on research and development and so as it improved the different attributes of the product. This helped them to increase on the new health and wellness programs. Maggie adopted the strategy of umbrella branding and this also provided them with high advantages such as the high level of acceptance, less time taken, there is low amount of budgeting and promotion, huge strengths to the brand name, increase in the overall equity. Maggie was successfully able to create its name and position its brand in terms of fast food items as it could be easily preferred by the large and wide group of segments at times of breakfast or during the evening time.
Thus there were certain issues and critical approaches came to their strategies such as:-
The increase of the competition in the category of noodles
Maggie is emotionally attached with the consumers and the target group
The brand equity is very strong
There is a high need of change in taste and the positioning elements
The category of the product should be increased in terms of number
Revitalizing is required from this brand
New plans ideas products or services
The idea of the new product describes about the good ones and also helps to know about the general criteria. There should have concept testing before the product is placed or launched in the market. There should have specific strategy applicable in the market for the product development. Thus there should have focused on test marketing to deal with the best pricing, best packaging, to increase the budget levels and to focus on the positioning strategies. (Managementexplorer.com, 2012)
The four new plans, ideas, products or services which would add value to the company is as follows:-
The company should conduct the test marketing before launching of the new product
The company should focus on creating the distinctive ranges and images to provide the benefits of instant cook and healthy food
There should also have better promotional campaigns, tools and techniques to deal with the school students, and wide group of population
The company should launch the advertisement campaigns and should try to deal as the brand ambassador. Thus they should also conduct the research to find out the market penetration of the product. (Komminos, 2012)
Evidently the paper must conclude by saying that it focused on the specific product that is “Maggie Noodles” and is introduced by the Nestle Company. The whole required information has been divided in numerous sections that provides in depth understanding about selected product “Maggie Noodle’ to complete the whole assignment successfully. Product “Maggie” is one kind of Noodles that is come under fast food category and this product deals with the wide target group of children and students.
The company that has been selected is from the real company and this paper explained the idea of the marketing mix in terms of product, price, place and promotion where the company tries to position its product for the target group. The paper generally tried to discuss about the marketing strategies so as its concepts and also this helped the reader to understand about different terms of marketing and its importance in the sales and profitability so as reputation or the image.
Thus the paper also discussed about the target group and the styles as well as idea of increasing or to continuing the high profits and growth.
So, at the end, the paper has suggested few ideas to maintain those strategies for long term and for future prospects.
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