Market Segmentation Of Nestle

| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer

The “Nestlé way” is to dominate its markets. Its overall strategy can be summarized in four points:

Nestle, an international recognized multinational corporation is the world’s leading nutrition, Health and Wellness Company. Nestlé’s mission of “Good Food, Good Life” aims at providing customers with the finest quality of nutritional choices within a wide range of food and beverage classifications (NESTLÉ - Vassos Eliades. (n.d.). Retrieved from http://www.vassoseliades.com/consumer-goods/nestle.html, para. 1). The merger in 1905 between Nestle and the Anglo-Swiss Milk Company created the Nestle we know today. Nestle is one of the world’s largest suppliers of food and nutritional products operating with 461 factories in 83 countries, with 328,000 employees worldwide (Fries, Lorin, Goldberg, Ray, 2012. Nestle: Agricultural Material

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

As aforementioned, Nestlé is the leading company in nutrition, healthcare and wellness, offering nutritious products for every moment and age. It is the largest food and beverages conglomerate in the world, with a portfolio covering almost every food and beverage category, providing consumers a multitude of products to choose from.

Nestle is a Swiss based multinational company which is head quartered in Vevey, Switzerland. There is a long list of the products of Nestle but the most important ones include baby food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks.

Nestle being the largest global Food & Beverage Company with highest sales and wide range of products can undoubtedly create competitiveness to Kellogg’s Company. The strengths of General

People are getting health conscious across the world and Nestlé has a good portfolio to offer

Since then the company has continued to flourish; mergers and acquisitions, global investment and product innovation have seen Nestlé position itself as a “global leader in Nutrition, Health and Wellness” (Nestlé, 2015) and, according to Forbes (2016), it is the largest company within the food industry and the 33rd ranked company on the Global 2000 (Forbes, 2016). Whilst renowned for chocolate, it did not become a global leader on the strength of one product. Its portfolio includes, baby food, beverages, frozen food, prepared dishes and healthcare nutrition. Food and beverages in particular have been prevalent in the aggrandizement of the corporation.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

Their main goal is they endeavour to bring buyers sustenance’s that are sheltered, of high calibre and give ideal supplement to address physiological issues. Nestlé gives choices to all individual taste and way of life inclinations.