COMPANY STRATEGY AND PLANNING
NESTLE'S STRATEGY AND PLANNING
Nestlé builds value by constantly emphasizing operational agility, relevance, and superior execution. As a business, we are constantly changing the products we offer to satisfy customer demands and pique their interests. We aim for a balanced pursuit of financial growth through quick innovation, effective resource allocation, and operational efficiency. Our long-term plan makes sure that we consistently achieve lasting success.
It's critical to analyze a company's market position, pinpoint its target market, and comprehend its competition before developing a strategy and plan. This entails performing market research, examining client information, and determining the advantages and disadvantages of rivals. Based on this data, the company can create a strategy to build on its advantages, correct its weaknesses, seize opportunities, and counter threats, as well as a marketing plan to successfully connect with and interact with its target market.
This is are the methods that implement in Nestle's strategy and planning:
Market Position
Nestle was one of the largest FMCG companies in the world with a leading market position in various product categories. Listed below are the key point of Nestle’s key market position;
- Worldwide presence
Nestle is well-represented in both developed and emerging markets because of its operations in more than 190 countries. This enables the company to cater to a variety of client tastes and preferences across the globe.
- A wider selection of products
Nestle offers a vast range of goods in numerous categories, such as cereal, coffee, dairy, confectionary, infant formula, etc. Nestle now has fantastic potential to expand and differentiate their brand across yet another product category thanks to this diversification.
- Strong portfolio of brand
Nestle has established a significant global presence and grown to become one of the most well-known and dependable brands in the world. Maggi, KitKat, Nescafe, and Purine are some of the well-known brands that we are all familiar with. These brands help Nestle maintain its market advantage.
- R&D expenditures
Nestle has improved its products as we move into the twenty-first century by investing in research and development to remain competitive in the market. Having said that, it will help Nestle establish a stronger market position as new products are released.
- Sustainability
Nestle has made sustainability a top priority by putting in place programs to reduce its impact on the environment, promote ethical sourcing, and raise the standard of living for farmers and rural communities. As a result, nestle has gained more devoted customers and built a solid reputation.
Target Audience
The target audience for Nestlé would depend on the specific product or brand that they are marketing. However, the broad description of Nestlé's target market is as follows:
- Families
Nestlé manufactures a variety of food and drinks items that are appropriate for families, such as infant food, breakfast cereals, chocolate, and coffee. Their goods are frequently advertised to parents looking for quick-to-prepare meals for their families.
- Customers who care about their health:
Nestlé is committed to enhancing the nutritional profile of its products and has created a line of goods to appeal to customers seeking out better options. Products that are fortified with vitamins and minerals as well as those that are reduced in sugar, salt, and fat fall under this category.
- Coffee drinkers
Nestlé is one of the leading producers of coffee in the world, and they provide a variety of coffee brands to suit various preferences and tastes. They cater to those who adore coffee and are looking for high-quality, portable coffee supplies that can be used at home or on the road.
- Pets owner
Nestlé also produces a variety of pet food items under trademarks like Purina, which cater to pet owners seeking savory and nourishing solutions for their animals.
- Advocates for social and environmental responsibility
Nestlé has committed to lessening its influence on the environment and enhancing the lives of the farmers and communities that supply their raw materials. They aim to attract customers who are eager to support businesses that are improving the world.
Competitors
Top Nestle rival Mondelez was established in 2012 and is based in Illinois. It is the top snack company in the state. The company produces a huge variety of products, such as chocolate, beverages, cookies, and confections. They operate enterprises all around the world and get funding from places other than the United States. They operate in around 1655 different countries, and the combined revenues of all of their brand's amount to around $30 billion. The majority of Mondelez's product lines are made up of chocolate, biscuits, sweets, food items, and cheese. The company consistently releases fresh, delectable products that are a hit to everyone.
As well as Mars is a well-known food company and the leading manufacturer of confectionery goods. It is also recognized as a major Nestle rival. The company is based in the United States and was established in 1911. This company manufactures several confectionery items, including Milky Way bars, Mars bars, M&Ms, Skittles, and Twix. In addition to confectionery goods, the company also manufactures non-candy goods such as Uncle Ben's rice, pasta sauce, etc., as well as pet foods under the Whiskas, Pedigree, and Nutro brands. However, their chocolate production is their best-selling good worldwide. The company sells delicious, high-quality cuisine. Their items have excellent taste and quality, and they are also reasonably priced. The company's operations are extensive.
Comments