Executive summary This report required spending great time on analyzing tones of marketing related information from innumerable sources of Nestlé’s powerful Brand MAGGI Instant Noodles. All information was critical and needed to be evaluated with full concentration and determination, the study of MAGGI Noodles that was launched first in India in the year 1983, by Nestle Limited, which became synonymous with noodles. This research tries to find awareness of MAGGI Noodles. The introduction provides the company background, operational & other important information provided by the company, which would assist in taking the decision for the right brand extension strategy for MAGGI Instant Noodles. We have concluded that MAGGI, being the product leader with 68% market share. We have also covered up a very important aspect of marketing – Marketing Mix. Every company develops their product integrating all the marketing mixes to evaluate the feasibility of that product similarly MAGGI Noodles define that. Introduction:
Maggi is a Nestlé brand of instant noodles, soups stocks, bullion, sauces and seasoning.
The original company came into existence in 1872 in
Switzerland, when Julius Maggi took over his father’s mill. At that time during industrial revolution in Switzerland
created factory jobs for women, who were therefore left with very little time to prepare meals. Due to this growing problem Swiss Public Welfare Society asked Julius Maggi to create a vegetable food 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 food products. Apart from two minute noodles Maggi also offers a range of product. However 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 :
MAGGI Noodles is a food item so it might apparently seem that it follows mass marketing since everyone can eat it and there is no specific variable associated with its consumption. But 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 Segmentation:
AGE (7-12 years)
MAGGI Noodles segmented into age groups (covering all age generations). MAGGI Noodles flavors such as Curry, Chicken, 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 solution for their children’s hunger. The new addition or line extensions of MAGGI Noodles are: Maggi masala,Vegetable Atta Noodles and Dal Atta Noodles. These new products innovations have become favourate for both children, their parents and even their grandparents; covering all age generations. 2) Psychographic Segmentation:
MAGGI Noodles is also considerably segmented according to “life style 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 don’t have much time for cooking. Hence, shrewd marketers of Nestle have absorbed this fact...
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