Essay about A Marketing Strategy for Nestle's Milo

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A Marketing Strategy for Nestle's Milo

Overview

In this brief I am going to discuss the key features of my marketing mix and create my marketing strategy by using the information attained from my SWOT analysis, PEST analysis and a Competitive Audit. I am going to choose an area of the product (Nestle's Milo) that I feel needs improving and improve it. To achieve this I’m going to use the four
P’s to meet the objectives of Nestle and the needs of customers.

I have chosen to improve the packaging (the product factor of the marketing mix) because I believe that it is inadequate in quality and it is the area that could give Milo that competitive edge. Also if I’m going to promote it in the UK through advertisements and promotional
activity
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If a product or service is not accessible to potential customers, then no matter how well it has been priced and promoted, it will not be successful.

Price involves pricing a product or service at the right price. This is an important factor since customers believe that the price should always be offered at value for money. There are two factors, which need to be considered when making decisions on price:

· Price determination

· Pricing Policies

Both of these factors need to coexist within price or price will be unsuccessful; for example price determination. It is important that the customer believes that the price offers value for money because if the price is too high consumers may not be able to afford it and may assume that the product is of poor quality.

The ultimate aim of promotion is to encourage consumers to buy or use a product or service. For promotion to be effective, an organisation must be talking to the right people about the right product and convince them that it is at the right price. All the four factors involved with the marketing mix must all work consistently and simultaneously to be able to meet marketing objectives. If they did not work well together then a lot of things would go wrong and marketing objectives

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