Free Essay

Maggi Marketing Strategy

In: Business and Management

Submitted By ankitaasthana
Words 3274
Pages 14
MICROME RESEARCH

NARSEE MONJEE INSTITUTE BOF MANAGEMENT STUDUES

MAGGI CUPPA MANIA
Sub: CUSTOMER ACQUISITION AND RETENTION

FT MBA- B RESEARCHED BY: Prachi Chandgothia 16

Company profile: - Nestle
Nestle was founded in 1867 in Geneva, Switzerland by Henri Nestle. Nestlé’s first product was "Farine Lactee Nestle", an infant cereal. In 1905, Nestle acquired the Anglo-Swiss Condensed Milk Company. Nestlé’s relationship with India started 1912, when it began trading as The Nestle Anglo-Swiss Condensed Milk Company (Export) Limited, importing and selling finished products in the Indian market.

After independence, in response to the then economic policies, which emphasized local production, Nestle formed a company in India, namely Nestle India Ltd.
Today, Nestle is the world's largest and most diversified food company. It has around 2,50,000 employees worldwide, operated 500 factories in approximately 100 countries and offers over 8,000 products to millions of consumers universally.
NESTLE PRODUCTS: A) MILK Product and Nutrition -Nestle Milk -Nestle Milkmaid -Nestle Dahi -Nestle EVERYDAY dairy whitener -Nestle EVERYDAY Ghee
B) Beverages -Nescafe Classic -Nescafe Milo
C) Prepared Dishes & Cooking Aids -MAGGI 2-Minute Noodles -MAGGI vegetable Atta Noodles -MAGGI Dal Atta Noodles -MAGGI Rice Noodles Mania -MAGGI Cuppa Mania -MAGGI Sauces -MAGGI Pichkoo -MAGGI Pizza Mazza -MAGGI Bhuna Masala -MAGGI Magic Cubes -MAGGI Healthy Soups -MAGGI Healthy Soup Sanjeevni
D) Chocolates and Confectionery: -Nestle KIT KAT -Nestle Munch -Nestle Milky Bar -Polo -Nestle Bar one -Nestle Eclairs

MICROME RESEARCH

MICROME RESERCH is a full-service marketing research company with premier customer satisfaction survey and loyalty measurement programs, lost customer analysis, state-of-the-art interviewing and data collection, and quantitative and qualitative research expertise. We specialize in helping companies understand current customers, lost customers, potential customers, and employees (internal customers) by uncovering and tracking the factors that affect satisfaction, loyalty, retention, awareness, perception and various customer behaviors. We also are experts in brand research, helping companies develop brand strategies that effectively support their identity and positioning. We have years of experience in new product development across a wide variety of industries.

Product: MAGGI CUPPA MANIA
Each offering of MAGGI noodles has been developed keeping in mind the Indian palate & what the consumer likes and dislikes. Since in today’s fast paced busy life, multitasking is a reality, the consumer wants something that fits with such a rushed lifestyle. He/she seeks a product which in addition to being tasty and healthy is convenient to prepare, eat and at the same time is also filling. New Maggi Cuppa mania has been launched keeping exactly all this in mind as Maggi Cuppa mania can be had anytime on the go.
According to Shivani Hegde, general manager for the food division, ''Maggi has pioneered the instant noodles category, and has consistently innovated and renovated keeping pace with the consumer's needs. Our consumer insight says the youth today lead a busier lifestyle, is multi-tasking and is always on the go.'' The product is targeted at the whole family, but is betting specially on 18-24 year old customer base, given its tagline 'Just add Garam Paani and Carry on Jaaani!' The company hopes that its instant noodles will be an instant hit with busy executives.

Our Research Objectives: * To study why the product (Maggi Cuppa Mania) has not succeeded as compared to other cup noodles and Maggi 2 minutes noodles

* To find the reason for the low market share of Maggi Cuppa Mania.

* To evaluate the Marketing Mix of Maggi Cuppa Mania and to identify the problems in any element of the mix

About the sampling done:
Sampling frame:
The sampling frame chosen for this research was kids, teenagers, college students, post graduates, working parents and employed people those in the age group of 7 to 30. The primary objective for choosing such a sampling frame was that, this would enable us to target the kids, teenagers, college students, and employed people living independently who are the ultimate consumers and the home-makers who are the purchasing agents.

Sampling units:
Our sampling unit consisted of 100 people in the age group of 7 to 30 years.

Time and space boundaries:
The time period for this research project was 1 month.
The area covered ranges from Borivali to Bandra.
The specific locations covered within this region include general stores, shopping centres and malls like Inorbit Mall- Malad, Hypercity, DMart- Malad, ‘More’ outlets across the region, Apna Bazaar and Spencers- Andheri.

Product features: * Offers delicious taste combined with goodness of real vegetables * Comes in two mouth watering variants - Masala Yo! and Chilli Chow Yo! * Is convenient to make – Only boiling water needs to be added * Has a fork inside for on- the- go usage * Comes packed with Power of Calcium * In addition to the delicious new product, MAGGI CUPPA MANIA comes in attractive sleeved cups
Price of product-
1 cup (75 grams) - Rs. 25

Sources of Data:
Primary Data – the primary source of data used in the research is the data collected using the interview method and questionnaire method.

Secondary Data – the secondary data sources utilized here include the company’s website to understand the product features and description. It also includes the packaging of the product for pricing and product data. Blog spots have been referred to in order to understand the customer response and general attitude towards the product as well as to know the recommendations from dissatisfied users.

DATA COLLECTION & ANALYSIS FROM RETAILERS

1. Do you stock Cup Noodles?

TOTAL NO. OF RESPONDENTS-40

The response we received was that at least 3.5 out of 5 retailers stock Cup noodles.

This shows that there has been a demand for cup noodles in the past and even now.

2. For the ones who did not stock cup noodles, we asked them why and this is the response we got for that question.

No. Of Respondents – 12

The following were the responses we got:
Low Sales- Majority of the respondents claimed that low sales was the major reason for not stocking up this particular item
No Sales – a small proportion of the respondents claimed that the product was not sellable at all.
Low Margins – an even small proportion mentioned the fact that the company’s distribution strategies comprised of small margins which were not profitable and hence not acceptable.
Not convinced – A handful of the retailers are quite cynical of selling the product due to traditional approaches

3. If yes, which brands do you’ll stock up?

Total No. of Respondents – 28

Among the respondents who stocked cup noodles, everyone stated that Maggi cuppa mania constituted 58% of their total stocks, Nisan constituted 27% of their stocks, while the remaining 15% of stocks were constituted by Top Ramen and other varieties.

4. For the respondents who said yes :- we asked them in what proportion do you stock up Maggi Cuppa mania in comparison with Maggi 2 minute noodles

No. of Respondents - 40

The following were the responses
1:20 :- majority of the respondents said that for approximately 20 packets of 2 minute noodles only 1 Maggi cuppa mania cup was stocked
1:15 :- a handful of the retailers said that for every 15 packets of 2 minute noodles 1 Maggi cuppa mania cup was stocked.
1:10 :- a small proportion said that 1 Maggi cuppa mania was stored for every 10 packets of 2 minute noodles
1:7 :- only 1 respondent claimed that he stored 1 Maggi cuppa mania for every 7 packets of 2 minute noodles

5. The next question asked was: What are the sales of Maggi cup noodles compared to Maggi 2 minute noodles?

No. of Respondents - 28

The Following were the Responses:

1) It seems that 95% of the customers prefer Maggi 2 minute noodles due to the number of varieties in it.

2) Another observation made is that the sales are in tandem with the stock kept by the retailers suggesting that the strategy followed by them are conducive to making profits.

6. The next question asked :- Gradation in terms of proximity of sight, as soon as a customer enters the store

No. of Respondents - 28

The following was the responses:
Below 3 feet: - a relatively large proportion of the retailers placed the cup noodles on their shelves closed to the transaction counter due to its small size and so also that it may attract maximum attention.
3 < proximity < 6:- a larger proportion of the retailers gave preference to other eatables but also had the cup noodles in close proximity so that it may catch the attention of various customers
Proximity > 6 feet :- A small proportion of retailers dint not bother on the scientific placement of the cup noodles, but made sure that it was visible enough to the naked eye. So on a 10 second browse in the store, one would spot the cup noodles without much difficulty.

7. The next question asked was – What type of people prefer Maggi Cuppa mania (age Group segregation)

No. of Respondents - 28
The following were the responses:
7-15 years :- It is observed that a small percentage of the population in this group purchases Maggi cuppa noodles. This is due to the fact that the purchasing power is in the hands of the mother and it is more convenient for them to prepare the 2 minute noodles.
16-22 years :- Here it is observed that a large proportion of population consumes cuppa mania. This group includes college goers who are always on a run and perpetually out of the house and hence cuppa mania is the perfect option to kill hunger
23-30 years :- This group contains the maximum consumption of Cuppa mania. Young workaholics usually stuff a few of these cup noodles in to their bags so it can be accessible at all times. Also a few stacked in refrigerators helps them to expend the least energy to prepare a fast snack.
Above 30 years :- a small but noticeable % of this group consumes cuppa mania. Young working mothers always on the go can find the best alternative to prepared food for their young ones.
Data Collection and Analysis From Customers

Our firm prepared a set of 8 questions and conducted a survey of 100 people (as mentioned before). These questions have been specifically categorized for people who eat noodles

The first question we asked all the respondents was;
Which brand of noodles do you eat?

TOTAL NO. OF RESPONDENTS-100

As per the response we got, about 69% of the respondents have ‘Maggi’ noodles and 16% of them have ‘Top Ramen’ noodles, 6% have Nissan. The rest make up for the other types of noodle brands like Thai Kitchen, Chings noodles etc. the objective of asking this question was to know which brand is preferred by the consumers.

2. The second question that we asked them was;

Are you aware about Maggi Cuppa Mania? How?

TOTAL NO. OF RESPONDENTS-100

The response that we received was that 66% of the respondents have heard about Maggi Cuppa mania, while 34% of the total numbers have not heard about it.

Given below is the graph portraying how the respondents have heard about Maggi Cuppa Mania

TOTAL NO. OF RESPONDENTS-66

53% of the respondents have heard about the product via television advertisement, while 31% have responded to the launch of the product through pop advertisement. 7% have heard it by their family, friends and other people while 9% heard it via newspapers, internet etc.

3. On asking the ones who had not tried out the product, the reasons for not trying it, we got various answers.

TOTAL NO. OF RESPONDENTS- 58

The answers were:
Dissatisfied with the concept –9% of the respondents said that the very concept of the product, did not appeal to many buyers since the food product is highly processed and has no nutritional value. Given the fact that it can be consumed by adding water speaks on the kind of processing that’s been done to the food product.

Expensive – 5 % of the respondents said that the product is comparatively more expensive compared to the highly consumed and more popular Maggi 2 min noodles. A 75gm Maggi cuppa mania is available for Rs. 25 whereas the normal Maggi 2 min noodles (90gm) costs only Rs. 10.

Satisfied with current product –39% of people were satisfied with Maggi 2 minutes noodles and did not feel the need to switch to Maggi Cuppa Mania as they were used to the old product.

Word of Mouth – 22.1 % of the respondents said that they had heard that the product is not nice from their friends, relative and whoever had had it

4. Further, we asked the ones who had tried out the product as to why did they try it.

TOTAL NO. OF RESPONDENTS – 42

The response we got was;

‘It was easy to use’ –Before Maggi cuppa mania was launched, the process of making noodles was slightly longer where one had to manually cook the noodles to consume it. But with the advent of Maggi Cuppa Mania the need to cook has been replaced by merely adding a cup of boiling hot water. Therefore 63% of the people said that they tried it because it was convenient to use.

None of the respondents stated that it was the ease of availability that compelled them to buy it.

‘Brand Power’, this was a new revelation in our survey. Through this we realized that 16% of them purchased Maggi Cuppa Mania owing to the brand power of Nestlé’s ‘Maggi’

Lastly 21% of the total respondents stated the effect of advertising as the main reason to why they purchased Maggi Cuppa Noodles.

5. How is Maggi Cuppa Mania different from Maggi 2 min noodles ?

TOTAL NO. OF RESPONDENTS – 42

Flexibility in Recipe – Here 17% of the respondents said that they would prefer Maggi 2 min noodles over the newly launched Cuppa noodles since it gives them the opportunity to alter the recipe according to their taste buds.
Taste – Majority of the respondents, i.e. nearly 42% of the total respondents claimed that taste was the main criteria that distinguished both the products.
Price – Nearly 31% of the respondents stated that price was a major factor that distinguishes Maggi 2 min noodles from Cuppa Mania. Sample this: A 75gm packet of Maggi Cuppa mania costs Rs. 25 whereas a normal packet of Maggi 2 min noodles (90gm) costs only Rs. 10.
Variants – Nearly 10% of the respondents said that the number of variants in the 2 min noodles segment differentiated it from the newly launched cuppa mania.

6. The next we asked the respondents was that were they satisfied with the packaging of the product?

The motive asking this question was to understand that whether the packaging of the product was attractive enough and at the same time to know whether the instructions given on the packet were easily understood by them. This also evaluates whether the way of communicating these instructions was appropriate i.e. capable of drawing the necessary attention, otherwise a special leaflet giving the same could be used.

TOTAL NO. OF RESPONDENTS – 42

The results of the survey demonstrated that 76% of the respondents did read the instructions on the cup and thus packaging was good enough with the proper method of communicating the instructions being used. However, 24% of the respondents were not satisfied with the packaging because the boiling water would make the cup hot and thus difficult to hold. Therefore, some effort could be taken in this area also.

7. Next, we asked the respondents as to what improvement do they want in the product.
This question helped us understand the feedback from the users. It primarily came from those who were either the ones who find the product as fair or good enough and from the dissatisfied users.

TOTAL NO. OF RESPONDENTS – 66

68% of the respondents said that the Maggi Cuppa Noodles didn’t taste as good as the 2 minute noodles. The consumers expected it to taste as good as the 2 minute noodles if not better. 22% of the respondents felt that the Maggi Cuppa Noodles was priced very high especially since it was being compared to its counterpart. 10% of the respondents expected the packaging to be better than what it is, since the cup becomes very hot once you add hot water and it becomes difficult to hold it.

8. The last question we asked our respondents was that whether they would recommend Maggi Cuppa Mania to others?

TOTAL NO. OF RESPONDENTS – 66

The satisfied users here said that they would recommend this product to other which forms a very small part of the respondents i.e. 16%
At the same time, 84% said they would not. This indicated that they themselves were not satisfied with the product.

Summary of Data collection:

* Retailer
Only 70% of the retailers stocked Maggi Cuppa Mania. This shows that all the retailers are also not convinced about the product. This is further proven since 30% of the retailers cited low sales and no sales as major reasons.
This is further aggravated by the fact that 65% of the retailers who stocked cuppa noodles cited 1:20 ratio of maggi cuppa mania to maggi 2 minutes noodles

1. Product

* Retailer
There is stiff competition in the cup noodles segment itself since brands like Nissan and top ramen have been in the market since the last decade.

* Consumer
69% of the respondents prefer maggi over other brands. This shows that maggi is the market leader in the noodles segment

Major U.S.P. of the product as easy to use has succeded in making the responses try since 63% cited that however they were not satisfied with the product, ironically due to its inconvenience

25% of the respondents found the packaging inconvenient since the boiling water made the cup very hot

2. Price

* Retailers
7% of the retailers have cited low margins as the reason for not stocking Maggi cuppa mania

* Consumers
75 grams of maggi cuppa mania costs Rs. 25 and 200 grams of maggi 2 minute noodles cost Rs. 20. This price variation deters a lot of buyers

3. Place

* Retailer
30% of the retailers did not stock Maggi cuppa mania. This shows low penetration.

10% of the customers preferred maggi cuppa mania due to its easy availability

4. Promotion

* Retailer
Inspite of low incentives i.e. low margins 34% of the retailers have the product proximity to the eye between 3 to 6 feet.

However Maggi cuppa mania has succeeded in targeting the age group between 18-25 since almost 60% of the consumers prefer it.

* Consumer
34% of the respondents were not aware of Maggi Cuppa mania. This shows poor promotion

Recommendations: * Since 53% of the respondents were aware of maggi cuppa noodles due to T.V. advertisements, the frequency of the same should be increased and it can also be the title sponsor for reality shows or award functions.

* Since 31% of the respondents were aware of maggi cuppa noodles due to P.O.P advertisements, hence retailers can be given incentives for stocking more of Maggi cuppa mania.

* 16% are satisfied with the product and 58% are not aware of the product, hence discount/free offers can be offered to increase the number of first trials

* Maggi cuppa mania should be available in more variants, also there should be flexibility in recepies

* 42% of the respondents did not like the taste and hence this can be worked upon

* 84% of the respondents who tried maggi cuppa mania would not recommend it to first time consumers, so working on the 4 P’s can reduce that percentage.

Similar Documents

Free Essay

Marketing Strategy for Maggi

...Marketing Management Term II – 2012 -2014 Submitted to Prof. Srinivas Prakhya Section D, Group 5 Agrim Kumar Aniket Ashok Karde Sanket Deshpande Khushal Dikha Satya Surekha Y S Sukrit Dhar Venkata Rakesh Kolli 1211245 1211247 1211257 1211270 1211297 1211306 1211312 Table of Contents Executive Summary ................................................................................................................................ 4 Indian Noodles Market ........................................................................................................................... 4 Current Market Scenario .................................................................................................................... 5 Nestle Maggi Products ........................................................................................................................ 6 Competitors ........................................................................................................................................ 8 Research Premise and Methodology .................................................................................................... 10 Preliminary Research ............................................................................................................................ 11 Maggi Strategy .................................................................................................................................. 12 Early Strategy and launch ...........

Words: 9262 - Pages: 38

Premium Essay

Critical Evaluation of Marketing Strategies of "Maggi Soup"

...MKT301 Section: 001 Term Paper Critical Evaluation of Marketing Strategies of "Maggi Soup" Prepared by: Name | ID | Fahad Amin Quadery | 12104116 | Sajjad Hossain | 12104191 | Redwana Huq | 12104069 | MD. Imtiaz Uddin | 12104057 | Seefat Binte Kabir | 12104089 | Wahidul Islam Siam | 12104261 | Nafisa Nawal Hossain | 12104253 | Submitted to: Md. Tamzidul Islam BRAC Business School BRAC University Letter of Transmittal 3rd December, 2013. Md. Tamzidul Islam BRAC Business School BRAC University Subject: Submission of report for completion of course. Dear Sir, This is to inform you that we have completed our report on Critical evaluation of marketing strategy of Maggi Soup. The term is a summary of how we would analyze our topic. The main purpose of this report is to present our conceptual understanding of the course MKT-301, Marketing Management and demonstrate our ability to apply it in a real world scenario. The report has been prepared for the completion of the course titled MKT-301 – Marketing Management. All your instructions regarding the structure of preparing the report have been adhered to when writing the report and we are willing to shed light on any discrepancies that may arise. Thank you for giving us the opportunity to work on this topic to enhance our insight in this course. Yours sincerely, Fahad Amin Quadery (ID: 12104116) Seefat Binte Kabir (ID:...

Words: 5988 - Pages: 24

Premium Essay

Ford Case Study Analysis

...Assignment 2.1 Ford Analysis PSPR 6208 Strategic Marketing and Communications Fall 1 2013 1. Where would you put Ford in terms of competitive position? Why? By shifting their focus, developing a new marketing strategy and focusing on the Ford brand, Ford has dramatically enhanced their competitive position and turned things around for the company. In doing so, they strategically placed themselves back at the top in terms of competitive position. This was no small feat, especially considering the fact that they were in far worse shape than most car companies as recent as 2008 (Kotler & Armstrong pg 547). Ford with the assistance of new CEO Alan Mulally fought hard against bankruptcy and even harder to gain consumer trust in the company and the brand. This strategy has helped Ford to gain a competitive advantage, especially in terms of customer satisfaction. 2. Is Ford a market-centered company? How can it improve in this area? Considering the fact that Ford currently pays attention to both customers and competitors in designing the company’s marketing strategies, I would say they are definitely a market-centered company. This may not have always been the case, as is evident from reading the case study. At some point, Ford took its eye off the market, loosing focus, especially in regards to customer needs. I think that they were driven to shift their focus by several factors, top of mind being the dire economy. Moving forward, they will need to play...

Words: 534 - Pages: 3

Free Essay

Social Media Marketing

...Social Media Marketing BUS508: Contemporary Business November 30, 2013 What is Social Media Marketing? Why has Social Media Marketing become so popular? Is it now the most effective way to advertise and market? I have chosen to first define both marketing and social media. In my analysis it will allow you to fully grasp the importance and meaning of marketing and social media. My analysis will also allow you to easily determine why Social Media Marketing has become so popular among businesses. I’m a big believer in social media so I will display that throughout my paper. With technology in this day and age people always have the Internet in the palms of their hand and social media is always a button away. What is marketing? Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Boone & Kurtz, 2012). Without proper marketing strategies businesses would not be able to sell their goods and services. The most effective rule to consumers is to ensure that they always get what they want and always meet their needs before they ever surface. Marketing has always been part of business, from the earliest village traders to large 21st-century organizations producing and selling complex goods and services (Boone & Kurtz, 2012). How people market has now evolved and is now more on social media than ever. Social media is one of the...

Words: 2574 - Pages: 11

Premium Essay

Mc Donals

...CASE STUDY: MCDONALD’S Executive summary This case study looks to evaluate marketing within McDonald’s and will look into how it has affected McDonald’s in terms of its position within the market. Through research, a positive correlation has been revealed between how successful a company operates and how committed they are in terms of customer focus and its marketing strategy (Kloter and Armstrong, 2010). This study will demonstrate how McDonald’s marketing strategy has helped render the company a global success. This is shown through the SWOT analysis. This study has found that the pivotal ingredient in this company is the unique and effective marketing strategy. Also to be credited was that the strategy showed that there were areas which could potentially disrupt the current rate of success (in terms of monetary results) If they are not rectified. A recommendation could be to increase the amount of ‘Healthy foods’ McDonald’s currently offer, to do so McDonalds would need to invest more in their product segment of the marketing mix. Introduction In many cases a company does not become successful overnight. There are a number of key ingredients which need to be focused on, in order to achieve its potential. An important part of this is the ‘marketing strategy’. The majority of successful firms invest large sums of capital and time into tailoring their strategy focusing on the potential changes in customer levels, rivals and the environment (Bradley, 2005). McDonald’s currently...

Words: 1950 - Pages: 8

Premium Essay

What Was Howard Schultz’s Original Strategic Vision for Starbucks? Is His 2010 Strategic Vision for Starbucks Different from the One He Had in the 1980s? How Many Times Has His Strategic Vision Changed? Is His Present

...Problem Statement Jeff Johnson, who saw that an informal Pacific style restaurant and bar on the site of a barrier island had potential for development. He then used his savings and some financial assistance from his family to build Jumpin’ Jeff’s Beach Bar on the barrier island. After Jumpin’ Jeff’s opening, Mr. Johnson soon realized that there are lots of challenges waiting for him, such as price setting, menu development, staffing issues, and cultural issues. Situation Analysis Since Jeff Johnson owns the land, Jumpin’ Jeff’s Beach Bar is the only one on this particular island. Mr. Johnson had chosen a good restaurant location, as he has a monopoly of business on the island. He can do whenever businesses he wants on the island. Mr. Johnson spent a lot of money on design elements, as every supplies and equipment is shipped from Florida. The restaurant was designed in a South Seas beach-hut style with shutters, which should be pretty eyes catching. The island itself is a barrier island, open on the eastern side to the Atlantic Ocean and the western side to the Haven. The other side of the Haven is a very small town, Kingsville, with two grocery stores, three churches, two resorts, two gift shops, and a small open-air market open on Tuesday and Saturday mornings. The Haven is popular in winter with cruising small boat sailors looking for a good anchorage in a sheltered harbor, amenities provided by the grocery stores and a place where they could order parts for their boats...

Words: 1055 - Pages: 5

Premium Essay

Marketing Plan

...the effectiveness of their marketing strategies for TWO elements of the marketing mix. Microsoft Corporation Table of contents Microsoft corporation overview 3 Introduction 3 Marketing strategies and their effectiveness 4 Conclusion 5 Reference list 6 Appendix Financial Statements For Microsoft Corporation: annual data 7 Microsoft corporation overview Microsoft is a public multinational corporation founded in Albuquerque, New Mexico on April 4th, 1975 by Bill Gates and Paul Allen. Where know the head quarters are in Redmond, Washington, USA with Steve Ballmer (CEO), Brian Kevin Turner (COO), Bill Gates (Chairman), Ray Ozzie (CSA), Craig Mundie (CRSO) and approximately 89,000 employees. Introduction Microsoft became one of the largest and most profitable companies in the world. Its founder, Bill Gates, became one of the wealthiest people in the world. Microsoft products enjoy a market share of more than 90 percent of the operating systems business worldwide. Microsoft has continued to expand and to update its product offerings and in doing so, it continues to spur demand among software buyers for Microsoft's newest and best products. The company has successfully navigated through changes in technology, the rise and fall of competitors, the growth of the Internet, and the globalization of business. In order for this success, Microsoft implemented marketing strategies in the marketing mix of product and promotion...

Words: 1847 - Pages: 8

Premium Essay

Defining Marketing

...Defining Marketing April 7, 2014 University of Phoenix Defining Marketing Marketing, in essence, is a company differentiating itself from its competitors. Organizations use marketing strategies to promote their product. Perreault, Cannon, and McCarthy define marketing as “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client” (2011, p. 6). Companies must focus their resources on these products to increase sales and competitive advantage. According to Kotler and Keller, “Marketing is about identifying and meeting human and social needs” (2012, p. 5). Companies use marketing strategies to spark interest, promote, and educate the consumer. A dental company must continuously reinvent itself from a marketing standpoint. In a town with a population of over 117,000 people and over 40 dentists the demand for dentistry is always present, but so is the competition. It is important for a dental office to keep their name at the forefront of dentistry. It is vital that an organization not only creates an exceptional product or service, but also delivers what they promised. An organization is only as good as their consumers perceive them to be, so it is greatly important that their marketing begins in-house with their current patients. There is no more cost-effective way to market than word-of-mouth...

Words: 859 - Pages: 4

Premium Essay

A Critical Perspective on Strategic Csr as a Tool for Marketing and Brand Differentiation

...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...

Words: 3204 - Pages: 13

Premium Essay

Marketing in Law

...The importance of marketing in Law Firms Introduction The importance of good and accurate marketing in the legal industry is growing as a response to the high competition among the industry and because of the innovations in technology. In the past, the common marketing practice among law firms to publicize their business and services depended exclusively on word of mouth. Over the years and due to the wide offering and competition among law firms, the above has radically changed and lawyers and law firms are now taking a more aggressive and proactive approach to market their firms and shopping their services within the market. Why should a law firm focus on efficient marketing strategies? Due to the fact that today lawyers live in a very competitive market place and clients are sophisticated, demanding and price sensitive, lawyers and law firms need to spend a great portion of their budget and time to think and determine the best way to provide upscale offering and services in order to get a competitive advantage and a wider market share. Creating value and offer a differentiated service and product are key factors for the law firms in order to get hired by clients. Every person that is part of the law firm should strive to offer a premium service sometimes in detriment of quantity. Since clients are price sensitive, having a better product than competitors create value and a competitive advantage for the law firm. Law firms should be selective when choosing work and clients...

Words: 1381 - Pages: 6

Premium Essay

Strategic Marketing Management

...gary a. sanchez * Blog * How I Can Help * Corporate * Small Business * About Me * subscribe via RSS Understand the Difference Between Strategy and Tactics to Unlock the Power of Your Social Media Marketing by garyasanchez “Strategy is doing the right things. Tactics is doing things right.” ~various attributions, including Peter Drucker and paraphrased from Sun Tzu I recently posted a series of slides from prominent social media thought-leaders as to why social media is not a retail marketing strategy. The point was not to diminish the potential value of social media or inbound marketing, for there are considerable benefits to be realized. Rather, my point was to assert that the use of social media and inbound marketing tactics can benefit tremendously by being used to support general marketing strategies and online content strategies. Starting your marketing efforts with well thought out strategies will help you manage limited resources, help you understand what’s driving success and failure, and accelerate success by unlocking the creativity that exists within your organization. Goals, strategies and tactics Before you can speak intelligently about the differences between strategies and tactics, you first need to start with the purpose of having strategies and tactics.  The biggest reason is to help you achieve a goal. A goal is a specific result that your business needs to achieve in order to sustain itself, usually through revenue growth or expense...

Words: 1521 - Pages: 7

Free Essay

Mcbride Financial Services Marketing Plan

...McBride Financial Services Marketing Plan McBride Financial Services is a start-up regional company based away from Boise, Idaho and is working on becoming a premier mortgage lender. Their products and services target conventional, FHA, and VA loans for home acquiring or refinancing. As a new company, McBride Financial Services is planning to expand into its businesses into Montana, Wyoming, N . Dakota, and South Dakota with the use of effective marketing strategies. To effectively expand and turn into successful, McBride Financial will locate unique advertising means to capture its target audience and also to showcase its mortgage lending services. Some of the methods they will be employing are television, newspaper, billboard, and other ads. They will also utilize social media marketing campaigns on multiple outlets (such as Facebook, Twitter, and so forth). McBride Financial Services goal is to achieve early success and become the “preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota” (McBride). To do so, McBride Financial will have to focus on: • Financially achieving break-even within six months of beginning its financial operations. • Becoming a profitable company within a year of starting business. • Utilizing technology to minimize costs and maximize efficiencies for its individual and business customers who are applying for and trying to obtain mortgages...

Words: 467 - Pages: 2

Free Essay

Cable

...Weaknesses, Opportunities and Threats.  What is Comcast Big Issue? Two major comcast marketing strengths are a. variety of services Why do you think that’s true? Comcast does more than phones – internet services and movies, for example. What company should do? Continue to build upon preexisting services to offer more. b. name recognition - nation’s largest cable provider, with over 21 million video subscribers Why do you think that’s true? Annual report demonstrates customer base. What company should do? Advertise and extend into areas it does not presently cover. Two major marketing weaknesses c. Low percentage of phone subscribers Why do you think that’s true? Annual report demonstrates that the bulk of customers are internet/cable. What company should do? Try to get these customers interested in phone services too. d. high franchise feeds. Why do you think that’s true? It’s a high cost to Comcast to rent other company’s lines. What company should do? Negotiate better line cost rental charges, perhaps by exchanging services. Two major marketing opportunities e. On demand movie services from Comcast Why do you think that’s true? It’s a new service that’s associated with cable. What company should do? Press greater marketing initiatives to advertise this service. f. combined phone/dsl packages that include Comcast...

Words: 1021 - Pages: 5

Premium Essay

How to Make Promotional Ideas Effective at the Supermarket Pretzel Crisps Tips for Innovative and Effective Supermarket Trade Promotions

...In-Store Retail Marketing (trade promotion) is the lifeblood of the supermarket and for brands. These create Trial and Repeat Purchase AND create all important Impulse Sales. You know impulse, all of those items you purchased that were not on your shopping list! Pretzel Crisps VP of Marketing Perry Abbenante, for Pretzel Crisps knows retail marketing, he was the Senior Grocery Director at Whole Foods Market headquarters in Austin, Texas and was responsible for national buying and merchandising. Do you think he can tell us how to transition promotional ideas into Innovative Retail Marketing Strategies? You bet! Perry recently gave us advice on Winning New Product Launch Tips so know I want him to give us the secrets for great In-Store Promotions… not only strategy but some tactical examples of what he does with the Pretzel Crisps brand to drive sales at the point of purchase. Overall Retail Marketing Strategy and Tactics How Do You Get Penetration - Gaining New Shoppers To Buy The Product? Perry says "When you have a relatively new product, get placement or display outside of your normal department is a key strategy. In our Activation Markets, we get our staff on the ground to get placement outside of the deli where we are normally merchandised. This tactic helps to attract new people that have never seen your product." Frequency - Or Getting Existing Customers To Buy More Often Is The Lifeblood Of Consumer Foods. Give Us Some Examples Of How You Do This? "Pretzel...

Words: 1049 - Pages: 5

Free Essay

Mcbride Financial Services Marketing Plan

...McBride Financial Services Marketing Plan Faten Hamad BSA/310 February 21, 2011 Prakash Naidu McBride Financial Services Marketing Plan McBride Financial Services provides low cost mortgage keys for individuals. McBride Financial Services provides to retirees, experts, and families are thinking to buy whichever a recreational property or secondary or primary house. McBride Financial Services has decided to revamp its recent marketing plan so that they can contact customers is more probable to fit the profile of the kind of buyer that their services are created for. This paper will show up how McBride Financial Services can reach a gainful commerce during marketing and operations in addition to their target of breaking even monetarily. The kinds of media that could used within McBride’s marketing plans and their goals markets will be outline, and their growth of services to the web will also be covered in the following document. As with any marketing plan, research needs to be conducted and reviewed. This research will help McBride Financial Services to orient better their company toward the needs of the customers and could make decisions that will bring more customers to their individual branch offices. Determining where the company stands with its current customers is important because they can build on their current market strategies to reach new customers and excite current customers with new services. An easy method for McBride to undertake in research...

Words: 1145 - Pages: 5