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Nestle Bangladesh Limited is a leading Food company with lots of global strategic brands operating in Bangladesh. MAGGI is one of the strategic brands of Nestle Bangladesh Limited. MAGGI is still the number one brand of noodles in Bangladesh. Its market is around 60% and till 2003 MAGGI grew by 30% annually. However in 2004, growth virtually stopped and competitor started eating away market share of MAGGI. Till date MAGGI is the largest spender in communication. In 2006 MAGGI was relaunched with a new health and taste positioning.
Nestle Bangladesh now plans to launch Rice Noodle Mania in Bangladesh.
A glance on Nestle S.A.
The world's largest food and beverage company, Nestle, was founded back long back in 1866 by a Swiss chemist Henri Nestle. Today, with sales of 96.3 bn USD ( in 2007), and a net profit of 9.5 bn USD, Nestle S.A is the world's leading nutrition, health and wellness company. It ranks no 1 in consumer Food Product category of Fortune's “ World's Most Admired Companies'. Headquartered in Vevey, switzerland, Nestle now employs around 265000 people at 481 factories in 87 countries and operates in almost every country in the world. It is truly a Multinational Corporation with home country sales accounting for only 2 % of the worldwide total. Nestle is always dedicated to providing the best food to people throughout their lives, with their unique experience of anticipating consumer's needs and creating solution. The company's strategy is guided by several fundamental principles, which only reflects its concerns for people. The business objective is to manufacture and market the company's products in such a way as to create value that can be sustained over the long term for shareholders, employees, consumers, and business partners.
Nestle Bangladesh's vision is to build “ Nestle as a respected, trustworthy, leading Food, Nutrition, Health and Wellness Company” ensuring long term sustainable and profitable growth. The company is very much focused to ensure that the vision is implemented in every aspect Corporate mission of Nestle Bangladesh Limited
1. be in every way, the leading company in the local food industry 2. ensure high quality standards in everything the company undertakes 3. provide consumers with superior quality products
4. expand total coverage and provide brand wise distribution targets 5. provide employees a challenging and satisfying work environment 6. be a good corporate citizen and contribute positively to the society in which NBL operates
Overview of Noodles Market in Bangladesh
The instant noodles segment is 75% of the total noodles market in bangladesh. total noodles market is estimated at 4300 tons which is growing at 12 % annually. Cocola is the key competitor ni the noodle category with 30% market share. Children are the main consumers of noodles. Mothers seek convenience, hygiene and nutrition as key benefits.
Overview of Maggi Noodles
MAGGI is still the number one brand of noodles in Bangladesh. Its market is around 60% and till 2003 MAGGI grew by 30% annually. However in 2004, growth virtually stopped and competitor started eating away market share of MAGGI. Till date MAGGI is the largest spender in communication. In 2006 MAGGI was relaunched with a new health and taste positioning. MAGGI's consumer target group is children aged between 5 to 12 years and communication target group is the mothers aged between 25-40 years since this group is actually making the decision of buying the noodles at household.
Current Market Overview
market share and Competitors
Maggi is currently the market leader with 61.1% market share. The other main competitors of Maggie 2 minute noodles are Cocola with 21.8% market share, Fuwang with 12.4% market share and Nice with 2.7% market share....