ASSESSMENT TEMPLATE___________________________________________________ Page 1 of 3 Subject Title Principles of Marketing Subject Code MKT600 Lecturer Donna Gill and Al Marshall Semester Semester 2,...

Strategic Marketing Plan
    Planning & Marketing
Strategic Marketing Plan
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Abstract
In this paper, we would be discussing the insights & the workings of the strategic marketing planning related to the chosen product which is Maggie and the company Nestle. It was found that even though the product was doing considerably well, it had a meltdown situation due to the compromised quality. It can into the scanner & it suffered heavy losses.
In this paper, we would be evaluating all the strategies, branding and the possibilities of the marketing mix components applied to the product & the company, due to which it grows into various segments of the market.
Contents
Abstract
Part 1……………………………………………………………………………………………………………………………………6
Introduction………………………………………………………………………………………………………………………….6
Maggie Product Life Cycle …………………………………………………………………………………………………….6
Situation Analysis ………………………………………………………………………………………………………………… 7
Macro Economic Factors ……………………………………………………………………………………………………….8
Micro Economic Factors ……………………………………………………………………………………………………….9
SWOT Analysis ……………………………………………………………………………………………………………………10
Target Market positioning ……………………………………………………………………………………………………11
Marketing mix strategy …………………………………………………………………………………………………………12
Conclusion ……………………………………………………………………………………………………………………………12
References …………………………………………………………………………………………………………………………….13
PART -1
Introduction
Every product has its life cycle, during its life cycle every product need to travel to different stages (Desai, 2018). The concept of the product lifecycle is like that in today's world everyone knows about the concept, but hardly anyone seemed to use it in an effective and productive way (Adbi, 2017). Nestle introduced Maggie noodles, sauces, soups. These are hit products in the market according to consumer preferences. As children’s are one of the major customer lines and it maintains the taste with the same flavor from the past several years. Maggie examined the differentiated type of market segmentation on the basis of their growth and segment size and Maggie objectives.
                    Maggie Product Life Cycle
The life cycle of most successful products is the history of their passing stages. In this scenario, we are taking an example of Maggie a Nestle product (Mishra, 2017).
Stage 1: Initial or Entry
This introduction stage is an initial stage or the launching of a new product. In 1980 Maggie introduction stage started when it entered into Indian Market. It's a pioneer in the instant noodles market along with a marketing strategy.
Stage 2: Growth Stage
This stage is one of the most forecasted as a strength with respect to the sales and profits. Building name and understanding the complexity of the market has allowed the company to enter the market. Maggie accepted as it's ready to eat food (Ahmed, 2016). There was a high profit for the company due to the single product.
STAGE 3: MATURITY STAGE
In this stage, it is generally an establishing stage during which the manufacturer needs to focus on their market share to work towards the built up. It is also concluded the most competitive time stage in terms of the products and the business who also needs to invest with respect to the marketing which has been undertaken (Kumar, 2018). After completion of Introduction and growth stage, Maggie entered into maturity stage where product faces the highly volatile market. Maggie faced a tough competition from Top Ramen noodles. A lot of new players entered the market to further promote the product Maggie uses various promotional techniques (Alhawsawi,...