Brand MAGGI Instant Noodles Essay

? Executive summary This report required spending great time on analyzing tones of marketing link information from innumer sufficient sources of draw closes powerful score MAGGI Instant attics. All information was critical and chartered to be evaluated with full concentration and determination, the sphere of MAGGI Noodles that was launched first in India in the year 1983, by cuddle Limited, which became synonymous with garrets. This research tries to find awareness of MAGGI Noodles. The introduction provides the political party background, operational & other historic information provided by the family, which would assist in taking the decision for the right brand extension strategy for MAGGI Instant Noodles. We sacrifice concluded that MAGGI, being the carrefour leader with 68% market share. We maintain also covered up a very important aspect of marketing selling Mix. Every company develops their point of intersection integrating all the marketing mixes to evaluate the feasibility of that product similarly MAGGI Noodles define that.IntroductionMaggi is a Nestle brand of instant noodles, soups stocks, bullion, sauces and seasoning. The accepted company came into existence in 1872 in Switzerland, when Julius Maggi took over his fathers mill. At that time during industrial revolution in Switzerlandcreated factory jobs for women, who were at that placefore unexpended with very little time to prepare meals. Due to this growing problem Swiss Public Welfare Society asked Julius Maggi to create a vegetable pabulum product that would be quick to prepare and easy to digest. It was the first to bring protein rich legume meal to the market, which was followed by readymade soup based on legume meal in 1886.In 1863, Julius Maggi developed a formula to add taste to meals, which later paved the way for Maggi and other easy to make regimen products. Apart from two minute noodles Maggi also offers a range of product. hitherto in India it was launched in 1980s by Nestle group of companies. Maggie had merged with Nestle family in 1947. Today, Maggi is particularly well known in India, New Zealand, Australia, Bangladesh, Malaysia, Pakistan, Nigeria, the Philippine and Singapore for its instant Maggi noodles.Current market situation Market descriptionMAGGI Noodles is a food item so it might apparently seem that it follows bus marketing since everyone female genitals eat it and there is no specific variable associated with its consumption. simply smart marketers of Nestle did indeed undergo some market segmentation for their expediency and easier way to create consumer value and satisfaction. MAGGI Noodles Marketing Situation is described here-MAGGI Noodle is segmented according to, Demographic Segmentation and Psychographic Segmentation.1) Demographic SegmentationAGE (7-12 years)MAGGI Noodles segmented into epoch groups (covering all age generations). MAGGI Noodles flavors much(prenominal) as Curry, wimp, Masala, tomato etc are consumed heavily by all age generation especially children. Children and young people love these flavors and their mothers feels relief thinking they owned the best ancestor for their childrens hunger. The new addition or inception extensions of MAGGI Noodles are Maggi masala,Vegetable Atta Noodles and Dal Atta Noodles. These new products innovations have become favourate for both(prenominal) children, their parents and even their grandparents covering all age generations.2) Psychographic SegmentationLIFE STYLEMAGGI Noodles is also considerably segmented according to life ad hominem manner and eating habits of its consumers. Since MAGGI is positioned as 2-minutes-Noodles thus the idea works in professional sectors with the people with tight schedules. At present, the students and the people in every professional sector suffer from lack of time. Time to them is a luxury they move intot have much time for cooking. Hence, shrewd marketers of Nestle have absorbed this fact and int roduced a product such as MAGGIInstant Noodles that is both a scrumptious snack as well as an amazing solution for people with busy life style and simple eating habit. MAGGI Noodles is the perfect product that give the axe adjust or fit into their life style flawlessly.MAGGI Noodles product review-In this world of improvisation, innovation and advancement product is an abstract term. It refers to a problem solving tool. And when hunger is the situational problem then MAGGI is the tool to solve this problem.1. MAGGI crossroadHere, MAGGI serves as a Packet Noodles and Cup Noodles. In this it introduced variety of product, such as- Dal Atta noodles, Chicken MAGGI, Masala MAGGI, and Vegetable MAGGI.2. PriceNestle Ltd. has priced MAGGI in a way that keeps the fact ab let on price sensitiveness of Asian developing countries in mind. It has an average cost per customer as its costs are allocated among greater number of customers buying the product. It can afford to provide such great be nefits at low price because it has a low cost of production.3. SalesIts sales are rapidly rising. Since it is the pioneer in the instant noodles industry in Bangladesh and has been able to successfully launch its products, it has a high acceptance rate resulting in sales boost. Because sales of its single packs are very high, the overall sales statistics yield escalating sales.MAGGI Product level diagramA review of competitionInitially when Nestle introduced MAGGI in the Bangladesh market, it did not have any competitors, Now, it has a few competitors in the market as others waited to see whether the mass market will adopt the product or not. Customers who previously purchased MAGGI to satisfy needs are now intercommunicate by the new product form that FU- WANG, Meridian, and Cocola Noodles etc brought into the scenario and thus MAGGI is getting very aggressive in their marketing tactics as they sense the new product form to be a threat. Here is short description about competitors 1) COCOLA NOODLESCOCOLA Noodles are engaged in manufacturing, marketing, and distribution of various branded food products and condiment. within the very short period of its entrance this brand has been enjoying second leading position in the market. COCOLA Foods Ltd. is focusing on improving the food habit of Bangladeshi Consumers through providing more ready to cook products and ready to eat as well. COCOLA is also exporting its products to Australia, UAE, Kuwait, Saudi Arabia, Bahrain, Qatar and many other countries to come into the list. Per packet cocola noodle 18tk.2) FU-WANGFU-WANG instant noodles were introduced in the market by FU-WANG Foods & Beverage Ltd. It holds a market share of 18%. It is a new item in the FU-WANG family, as such, is the attendant of the product leader MAGGI. Currently, we assume it is in the Growth Stage. From the beginning, FU-WANG always trying to maintain the best quality standard of its products. Since the ingredients are gathered from Banglade sh itself and it emphasizes on mass production (Family Packs, Premium Packs), its cost per customer is lower than that of MAGGI. Price 4 cakes in one packet 65 tk.3) MR.NOODLESMr. Noodles is a brand of instant noodles manufacture by PRAN. The brand is touristy in Bangladesh it had been popular product category in the culinary segment since the launch of Mr. Noodles in 2011. Over the years, Mr. Noodles became a popular snack food product in Bangladesh. Claimed to be Easy instant noodles. Its price per packet 15tk However, MAGGIs competitive advantage is its product differentiation. It is very low-priced and it provides good quality. Also it is the Market leader in its segments and has strongbrand loyal consumer base. With wide range of distribution channel and product marketed according to the need of consumer MAGGI is utterly a successful brand with insurmountable competitive advantage.MAGGI quality is one of its most important positioning tools. It knows that quality has a dire ct meet on the product performance, thus closely linked to customer value and satisfaction. MAGGI quality identify through its performance and its conformance quality.MAGGI features, another competitive tools for differentiating companys product from competitors product. slightly of them includeOriginal Flavor, Chicken, Curry (a healthier alternative is also sold in supermarkets), Kari Letup (Extremely Spicy Curry) Chicken & Corn ,Beef Oriental, Masala, Prawn, Dal Sambar ( whole straw noodles ), Asam Laksa, Cheese, Pizza (only in Saudi Arabia, was available for a period of time in Australia.), Chatpata, Tomato, blind drunker Chicken, Vegetable Atta Noodles (Whole wheat noodles) mostly in India, etc. MAGGI noodles also produces cup noodles known as Hot Bowl, and sells cup noodles branded Cuppa Mania in India.The style and stick out of MAGGI gives it competitive advantage over the other products in the market. The sleek packaging of MAGGI is convenient and stylish. It contributes to the products usefulness and look. Its even shapes the consumers experience with the product.MAGGI Channels and Logistic ReviewThe urban areas are already saturated with MAGGI, as almost all departmental stores offer it. However there are still greater possibilities to stretch its distribution channels to the rural areas. MAGGI has a lot of distribution channels to fill. MAGGI can introduce mobile-vans by which they can access larger pool of customers and make its distribution channels stronger. Current distribution channel of MAGGI-SWOT AnalysisSWOT is an acronym that stands for strengths, weaknesses, opportunities and threats to the formation. It involves the careful evaluation of the strengths and weaknesses of the organization as well as its opportunities and threats to the organization in the current market.MAGGI SWOT analysis-SWOT analysis of MAGGI brand clearly indicates the strengths of MAGGI as a Brand in Bangladesh market. The Brand was found to be a market leader in it s category of Noodles, with strong customer loyalty. Intensive distribution of MAGGI as a Brand was seen in urban areas of the country. MAGGI has made several attempts to revamp itself as a Healthy Product but till date its perseverance towards the tag line is low by the consumers. The brand is in the growth stage of product life cycle with a strong inclination towards the maturity stage.MAGGI Noodles Strength analysis-MAGGI is from an exceedingly recognizable company Nestle. Popularity is one of its superior strengths that are virtually incomparable. MAGGI is known very well worldwide by its excellent advertising and visibility. Its stigmatization is obvious and easily recognized currently Bangladesh market. It is very easy to cook and exits as a healthy food with the title of Darun shaad darun pushtiMarket leader in noodles category with high brand loyalty.Excellent advertising and visibility.Good product distribution and availability.Lots of flavors and varieties available.Easy to cook-with the title of 2 minute Noodles.MAGGI Noodles Weaknesses analysis-MAGGI do have a variety of weaknesses that need to be addressed. Word of mouth is probably a strength and weakness of every company. While many people have good things to say, there are manyindividuals who are against MAGGI as many other companies to the current market as named before. Product is dependent on each(prenominal) other according to the new market segment. The market fails to provide to rural area. Product is dependent on each other.Not so much charge in rural market.Media generated news about health tax returns.Market leader Perceived as made up of Maida not good.MAGGI Noodles Opportunities analysis-Day by day its consumers are increaseing. Because Bangladesh is a small market, only few of the diversified flavors of MAGGI are sold here. Yet it remembers that they should at least market the products to see if it works as a trial. Another opportunity that is the ability for MAGGI to buy out their competitors. This opportunity rarely presents itself in the world of business. Product has been acceptable in youth Strong strawman of regional category competitorsAvailability of new segments(e.g.- old and age people)Untapped rural marketsDINKS, single professionalsNewer tastesProduct has been acceptable in youth category.ever-changing preference of consumer towards Chinese food and fast food.MAAGI Noodles Threats analysis-Shift to rural market, Consumers dont perceive it as changing preference of consumer a Healthy Product towards Chinese food and fast. Compare to other brands noodles its price also vary and can be a threat.Price wars with other noodle brands.Strong presence of regional competitors.Consumers dont perceive it as a Healthy Product.Availability of New segments (The competitor provides higher age people)margins to its distributors and growing.Objective and issueObjectiveMAGGI Instant Noodles is the product leader in the category of instant noodles, capturing ma rket share of 68%, penetrating 6 lace stomachholds. Nestle, the worlds largest food company, reported first-quarter sales growth that beat analysts estimates, helped by sales of MAGGI Noodles. MAGGI leads with their strength to the current market. Positioning initially Nestle tried to position the Noodles in the platform of convenience targeting the working women. But it found that the sales are not picking up despite heavy promotion .Research then showed that Kids were the largest consumers of the brand. Realizing this, Nestle repositioned the brand towards the kids using sales promotions and smart advertising. MAGGI has always positioned itself as Healthy noodles as it described before. At present-MAGGI now provides family packs and single packs.Maggi has recently come out with new advertisements in some weekly.Issue-Core aim of Nestle Business with the title Good Food, Good Life. Food and beverages plays a important role in peoples life- not only because of enjoyment and social pleasure of eating together, but more in more terms of personal health and nutrition. Nestle is committed to provide their customer, consistent quality, safety as well as value for money and convenience. Great taste is the fundamental of their products and consumer detainment of good food. Giving priority on nutrition, health and wellness Nestle comes with their product MAGGI Noodles with the title- Maggi 2-Minute Noodles.MARKET STRATEGYTargeting of MAGGIMAGGI main target is children, then women and elderly. Today MAGGI Noodles with its pleasant and variety of new flavors successfully targets kids, working women and elderly all at the same time. But Nestle at the initial stage was targeting on the house lady. Very soon it realized that its target segment is not them. It evaluated and understood that children should be its primary focus. So they changed their mission to To become the no. 1 favourite(a) snack for kids in the country and came up with two minutes noodles which targe ted children aged 7 to 12. Nestle also targeted the house lady by introducing the health noodles. These can be consumed as the complete food which gives the calorie and meet all necessary health requirements. For these variants they introduced the new positioning MAGGI is the best, tasty and healthy noodles (for children), which cannot be compared.Marketing MixElements of market mixMAGGI Marketing mix describe the 4ps-1) Product MAGGI has come up with various product s according to the needs of consumers. Some of it gains total popularity and some becomes failure. Developing a product involves defining the benefits it will offer. These benefits are communicated and delivered by product attribute such as quality, features, and style and design as described before. MAGGI is a product which is a source of Protein, Calcium, and Fiber and has added vegetables. The inspiration for comes from the going consumer preference for a healthier lifestyle.2) Packaging MAGGI is packed in the yellow packets. The tip of the packet is zipped so that the contents can easily be spilled without wasting it. It has solved the problem of storage. The thickness of packet is increased so that the contents can be easily poured without much wastage.3) Promotion MAGGI has already created its brand awareness and now it shouldincrease advertising to build brand preference. However MAGGI still continues to build brand awareness by serving MAGGI Noodles to people for free (sampling). At present MAGGI occupies almost 78% of the noodles market. Thus it is surely the market leader. So it should focus now on creating brand preference. The number of picture advertisements of MAGGI noodles in Bangladesh is very little compared to that of India. In Bangladesh they use more paper advertisements than television advertisements. Thus the promotional strategies of MAGGI should now be altered.4) Places Places refers to the location where products are available and can be sold or purchased. MAGGI Noodles i s not only famous in urban areas but also rural areas. It is rightly available at number of retail shops and malls. So that consumers can easily purchases the product without any bragging(a) effort.Positioning of MAGGIMAGGI is position itself as a differentiated product. The market is very sensitive to taste and can rejects any flavor if dislike. Consumers typically choose products and serve that give them the greatest value. Thus, dedicated marketers want to position their brands on the key benefits that they offer relative to competing brands.Positioning Statement of MAGGI-As we all know marketers believe that companies should aggressively promote only one benefit to the target market. MAGGIs USP (unique selling proposition) is that it is healthy and tasty. MAGGI solemnly sticks to its USP which consumers also take in with boldness and soul. MAGGI with the title of 2 minute Noodles is continue its position to the current market as a fast to cook and good to eat, is the best, ta sty and healthy noodles (for children) that cannot be compared. To everyone who wants the fastest and yummiest solution for their gurgling stomach, MAGGI is the all-time-favorite instant noodles that provide an easy, nutritious and tasty food for children (mainly) and other age groups.