Marketing & Management for Fashion Branding - myassignmenthelp

Question: Discuss about theMarketing Management for Fashion Branding. Answer: Introduction The report discusses the management of marketing considering the business organisation Nestle and its product Maggi available in Nigeria. A brief description of the company and its major product will be illustrated. The marketing strategy will consist of the product differentiation, proposition of value while the marketing mix strategy will identify the major components including product, price, place and promotions to make Maggi successful in the competitive environment of Nigeria. Lastly, few recommendations have been provided to make sure that Maggi makes a comeback and keep the customers satisfied by fulfilling their nutritious needs effectively (Armstrong et al. 2015). Company background Nestle, Nigeria is one of the most popular and establish business organisation specialised in health, nutrition and beverage products. It falls within the food processing industry, and it has an operating income of over 13.16 billion and revenue over 89.46 billion. The mission of the company is "Good Food, Good Life" and it has provided good quality nutritious choices to the customers of Nigeria for fulfilling their needs and preferences. Being one of the largest food and Beverage Company, it serves customers not only in Nigeria but all over the world (nestle-cwa.com 2017). The company has more than 2000 brands that have been categorised from global icons to local choices. Products and services description One of the most popular culinary products is the Maggi, which has managed to make millions of people happy because of its convenience in cooking and getting it as a nutritious food within quick time. The demands and preferences of customers are changing, and so they prefer products that consist of simple and understandable ingredients that require less processing and can be locally produced as well. Maggi is a product that makes the company differentiate itself from other company products, and it has played a vital role in contributing to the needs and preferences of people within the Nigerian society (Berthon et al. 2012). The company competes with Nissin, which delivers noodles, i.e., Top Ramen while there are other business competitors like Honeywell, Indomnie, etc. that provided noodles as well. Marketing strategy It was seen that after the debacle, where Nestles Maggi was found to contain harmful particles, the product had been re-launched though most of the damages were already done. There is huge competition in the market and competitors like Honeywell and Indomnie have taken the market by catching up most of the revenues of Nestle. The market share for Nestle also fell, which made the company re-launch the product and plan for effective marketing strategies to capture different market segments and attract more customers (Best 2012). The marketing strategy enabled to position the product as a convenience product that is easy and quick to prepare and has been positioned in the Nigerian market to target the working people (Hollensen 2015). Marketing mix of Nestle, Nigeria Product Maggi, being one of the major product offered by Nestle in Nigeria is categorised into soups, sauces, instant noodles, etc. The products are available as vegetable atta or oats noodles, cuppa mania, etc. The seasonings include combining various spices and flavours to give an enriching taste that can meet up to the quality standards and satisfy the demands and preferences of Nigerian customers with ease and efficacy (Huang Sarigll 2014). Price Nestle has provided its product, i.e., Maggi by maintaining the cost-based pricing strategy to enable competitive prices through compensation of higher products volumes. The company has maintained consistency in the prices of products, which has helped in capturing most of the market share through maintenance of highest quality standards as well. Place The products are available in various supermarkets in Nigeria and advertising, as part of the promotional strategy has further helped in creating brand awareness and establish a strong brand image to attract and retain customers too (Morgan 2012). The products are delivered at the local stores too, which has created ease for customers to buy Maggi from anywhere in Nigeria. Promotion The advertising activities have helped in promoting the products, and this has enhanced the brand image and identity, furthermore retaining the existing customers with ease and efficiency. Maggi has offered discounts, and with the help of celebrity endorsements, the product has created a sustainable place in the market (Wiedmann Hennigs 2012). Implementation of marketing strategy The marketing strategies are facilitated by promoting the product through the distribution of free samples and including social media to gain customer awareness. The objective is to capture a wider market segment and fulfill the needs of every market segments. The targeted market segments are attracted with the introduction of all new Maggi vegetable atta and oats noodles. Nestle has implemented the product differentiation strategy for making the products differentiable from the similar kinds of products offered by other companies like Honeywell and Indomnie (nestle-cwa.com 2017). From the marketing mix components, it could be understood that promotion has helped the company to expose its value offered to the customers and make them know about the benefits that will be gained by purchasing the product. The marketing strategy is implemented by considering the social media as an effective platform to create better brand awareness and influence the buying behaviours of consumers, thereb y increasing the sales revenue, maximize the profit level and gain the competitive advantage in business too (Huang Sarigll 2014). Recommendations to resolve issues regarding marketing and management The promotions were not done properly in Nigeria during the certain situation, and so it is important for Nestle to support various public commitments by aligning with the sustainable development goals and objectives. Maggi is recommended to check the products properly and even the packaging process to ensure that the products' quality is maintained. It is also recommended that Maggi managing deals and agreements with the e-commerce websites to make a good comeback and ensure that the packets of noodles to be sold much before its official comeback. Management of partnership between Nestle and Ministry of Public Health is recommended for organising a form for nutritious challenges and ensure that the marketing activities are managed properly. Lastly, management of quality is recommended to make a comeback successful and enable satisfaction of customers. Conclusion The background of Nestle showed that the product named Maggi had managed to remain competitive and it helped in the creation of a good relationship between the business and its customers. The strategy of marketing was implemented to create a sustainable place in the Nigerian market, and for that, the marketing mix strategy had been used, which illustrated the product itself, availability of the product at supermarkets, the prices and promotional activities managed. The marketing strategies were implemented by considering the product differentiation, inclusion of social media and identify the marketing mix elements too. Lastly, few recommendations provided were the maintenance of quality by checking the packaging of products, deals managed between Nestle and Ministry of health, etc. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015). Marketing: an introduction. Pearson Education. Berthon, P. R., Pitt, L. F., Plangger, K., Shapiro, D. (2012). Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy. Business horizons, 55(3), 261-271. Best, R. (2012). Market-based management. Pearson Higher Ed. Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education. nestle-cwa.com. (2017). https://www.nestle-cwa.com. Retrieved 27 October 2017, from https://www.nestle-cwa.com/en Huang, R., Sarigll, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer New York. Morgan, N. (2012). Time for mindfuldestination management and marketing. Journal of Destination Marketing Management, 1(1), 8-9. Wiedmann, K. P., Hennigs, N. (Eds.). (2012). Luxury marketing: a challenge for theory and practice. Springer Science Business Media.