Marketing Principle of Milo Singapore - MyAssignmenthelp.com

Question: Discuss the Marketing Principle of Milo Singapore. Answer: Nestle has provided quality products to the world for more than 9 decades. Their products are such that everybody in every corner of the world can rely upon. Nestles Milo is a product which know for providing energy and keeping children active throughout the day. When it comes to Milo Singapore, the brand very confidently talks about it being a product on which the consumers can rest upon (Min et. al. 2015). Such confidence has made the product a brand in itself and is popular among every age. This report sheds light on the marketing mix of Milo that it uses in Singapore. Marketing mix (7 Ps) 7 Ps Marketing Mix. (Min et. al. 2015) Product Nestle came into inception in 1934 and expanded throughout the world. In 2006, Milo from Nestle got awarded for its contribution towards good health. Within a years time, it introduced a concept of malt and milk in higher quantity, which helped children in gaining more energy. With chocolate taste, Nestle Milo got more famous and was liked by the consumers (Professional academy, 2015). They are continuously dedicated towards providing quality products to the consumers and come-up with new innovation every now and then. They give lot of options to the consumers to choose from, as they come in different sizes and range. As the product is made up of natural ingredients like milk, cocoa and malt, it calls for trust and satisfaction among its consumers. It constitutes of 8 types of vitamins and 4 different minerals which are essential for the growing body. The product is also made of Promomalt, which is basically a combination of various carbohydrates which provides energy to the body (Nestle 2016). Place Milo has a very good approach towards the storing and transforming the products as well as establishing a well-structured distribution of the products (Min et. al. 2015). The efficient and very effective manufacturing units which are placed at different locations increases the productivity and is very cost-effective. They basically use two channels for their product distribution, retailers and wholesalers, which work very smoothly and functions very effectively. The logistic system provides a great to and fro movement of the product which helps the product stay in the market all the time. Price The company uses ethnocentric, polycentric and penetration policy strategy when it comes to pricing. This helps them keep almost same price at different geographical locations, which keeps the consumers satisfied, pricewise. They try to reach out to as many customers as possible with their low pricing strategy. They also follow the concept of giving discounts on its products which are as per the location and locality. Promotion Milo supports as well as has sponsored quite a few number of life events like 1984 Milo Olympic display, 1978 Milo football training center etc. (Nestle 2016). For the promotion of the Milo product, Nestle used the strategy of associating Milo with energy. It also provides support to the local teams while participating in different games, both on national level and international level. The company also organized Milo Van in the year 1980 which was very much appreciated throughout the world. As the product is a combination of good health and energy, the Singapore health promotion board also awarded Milo with a much healthier endorsements and concepts. People Milo practices a system of shared understanding which helps the company in having a good image in terms of quality and concern. The people blindly trusts the brand. So, it is mainly given to the growing children for good health benefits. As they are more towards maintaining their quality, which is quite evident from its promotion, packaging and quality, this helps them in connecting with their customers (Academia.edu. 2016). So, not only children but even adults consume it widely throughout the world. Process They use various strategies for developing as well as designing their products so that best product could be provided to the customers in terms of quality and price. They practice a much advanced processing system, which helps them keep up with the continuous development of the product and promote it in such a way that it provides assurance. They continuously develop a network of strong distribution which helps them with their physical presence in every corner of their target market. Physical presence Nestle Milos products are distributed to the various wholesalers as well as retailers like Tesco, etc. References Academia.edu. 2016.Segmentation Targeting And Positioning Of Nestle Marketing Essay. Min, C. H., Baker, J. A., Han, L. Yi Lim, J. 2015. Milo sold in Singapore is made here, no counterfeit problems, say Nestle and retailers. Nestle 2016.Home | Nestl Singapore. Professional academy, 2015. MARKETING THEORIES THE MARKETING MIX FROM 4 PS TO 7.