Presentation on theme: "How Nestle uses marketing research to create marketing planning Summarize what is marketing research and what is Marketing planning and how its linked."— Presentation transcript:
How Nestle uses marketing research to create marketing planning Summarize what is marketing research and what is Marketing planning and how its linked With Market Research, a company can help determine customers' needs for products or services, and with a Marketing Plan, the company can satisfy those needs with the right Marketing Mix - the right messaging, in the right media. Market Research To determine customer needs, a company’s market research will provide current and relevant market intelligence, including: Customer satisfaction or dissatisfaction with products or services. Opportunities for new products or services. Trends that could affect company sales and profitability: Population shifts. Legal developments. Local and national situations that could create problems and opportunities. What your competitors are doing. This research is gathered with market surveys, customer focus groups, researching published reports and statistical information, and interviewing industry experts. Once gathered and analyzed all this market research information, will help determine competitive advantages and express superior benefits to customers through an aggressive Marketing Plan. Marketing Plan A compnay’s marketing plan identifies groups or segments of customers that you can better serve than your competitors, and tailors your product and service offerings, prices, distribution, promotional efforts, and services toward those particular segments. There are two common methods generally used to segment a market: Geographical targeting – Focuses on serving customer needs in a narrow geographical area (e.g. targeting a neighborhood as nail salons, beauty shop, convenience store, family practice physician, realtors, etc.). Customer targeting – Focuses on those groups of customers most likely to buy the product or service no matter where they are located (e.g. national or even global targeting such as industrial supply distributors, manufacturers, online retailers, packaging supply, etc.)
How Nestle uses marketing research to create marketing planning Marketing Plan A companys marketing plan identifies groups or segments of customers that a company can better serve than their competitors, and tailors their product, prices, distribution, promotional efforts toward those particular segments. This is only possible after they do the Marketing research after which they can look at creating their various plans. This is done by firstly c reating: PESTLE (political, economic, social, technological, legal and environmental external factors) Mention how marketing research helps the company create the PESTLE SWOT (internal strengths and weaknesses, external opportunities and threats) Mention how marketing research helps the company create the SWOT The setting of SMART (specific, measurable, achievable, resourced, time-bound) objectives Mention how marketing research helps the company create Its SWOT Mention why they need to do marketing planning, what benefits does it become and how does it help them achieve the main goals of company such as making a profit.
Merit / Distinction B –Break down into detail A –advantages as well as disadvantages R- Rate / opinion/ decision/ your argument attribute value or worth E-Explain D-Detail evidences to support your argument