A Marketing plan for Nesvita
Nesvita, one of the newest products of Nestle Philippines, was launched in the local market last June 1994. It is categorized as a filling cereal beverage made of natural-based ingredients such as soya, milk, wheat and corn. The product is currently targeting children ages 5-12 yrs. old belonging to...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Animo Repository
1994
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| Online Access: | https://animorepository.dlsu.edu.ph/etd_bachelors/16892 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | Nesvita, one of the newest products of Nestle Philippines, was launched in the local market last June 1994. It is categorized as a filling cereal beverage made of natural-based ingredients such as soya, milk, wheat and corn. The product is currently targeting children ages 5-12 yrs. old belonging to the AB and upper C strata and residing in the urban sectors.
In less than half a year, the product already shows a modest growth as revealed in the company's sales records. Sales target for 1994 has been adequately met as early as end of October. Initial feedback, as noted by the company's Consumer Services Department, shows that a significant share of Nesvita's sales, however, is contributed by young urban professionals or yuppies . Research conducted by Nestle in 1993 showed that yuppies do have a high acceptance rating for the product.
In the effort to improve the performance of this new product in the market, the following action plans are recommended: (1) Repositioning of Nesvita to an older target market, specifically yuppies ages 20-34 yrs. old, who are characterized as busy-bodies (2) Developing better product features such as label, packaging size and material to elicit an image suited to yuppies (3) Conducting promos such as dry sampling, premiums, and sponsorship of events to provide product exposure (4) Launching an appropriate ad product's retail price from P3.75 to P4.50 to create a premium image for Nesvita and to allow a more extensive ad campaign (6) Widening sales & distribution by covering groceries and convenience stores to effectively reach a greater market and (7) Conducting test market in areas outside GMA to determine the feasibility of widening distribution even further.
These proposals are expected to increase peso sales by 267% and profit by 133%, amounting to P 1.7M. Total investment costs, on the other hand, are estimated at P 20M. |
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