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

A Marketing Strategy for Nestles MiloOverviewIn this abbreviated I am going to discuss the key features of my marketingmix and create my marketing strategy by using the information attainedfrom my attire analysis, PEST analysis and a Competitive Audit. I amgoing to choose an area of the overlap (Nestles Milo) that I feel needsimproving and emend it. To achieve this Im going to use the fourPs to meet the objectives of Nestle and the needs of customers.I have chosen to cleanse the packaging (the crop factor of themarketing mix) because I believe that it is inadequate in quality andit is the area that could give Milo that competitive moulding. Also if Imgoing to promote it in the UK through advertisements and promotionalactivity 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* Product* Place* Price* furtheranceIn marketing, product refers t o both goods and service. Goods arephysical objects, such as sports clothing, home entertainmentequipment or food and drink. Services involve a combine of skills,information or entertainment, such as football match, use of aswimming pool or a theatre production. There are tether criticalfactors to consider when developing a product* Product characteristics* Position of the product within the product life cycle* Brand image of the productWithout one of these three factors the product will not sell to itspotential. Product characteristics like the brand are very essentialwhen developing a product. mark is the process that gives aproduct or service a distinctive identity with the aim of creating aunique image that will make it substantially identifiable and separate fromits competitors. For example, in blind tests 51 per cent of peopleprefer Pepsi. However, when customers can see the brand that they aredrinking, 65 per cent joint that they prefer Coca-Cola. What these 65per cent o f 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 by which it is distributed to consumers. If a productor service is not brotherly to potential customers, then no matterhow well it has been priced and promot... ... be anadvantage to Milo because as stated in my SWOT analysis Sponsorshipthrough unclouded 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 make in theUK and as a result of this competitors should have a competitive edgeover Milo. Also stated in my Competitive Audit presently no promotionin the UK suggests that product awareness is minimal. The onlypromotion available to the UK on Milo is websites Websites promotionis available to 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 gross revenue of Milo as it does not state wherepeople may be able to purchase 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.