The paper "Marketing Audit Report of Nestle Milo" is a good example of a marketing case study. This report analyses the target market of Nestle Milo, an Australian company that was established in the 1930s. It was created using domestic milk knowledge together with cocoa expertise. The product is named after a character in Greece known as Milo known for his energy. The product was launched in 1934 in a public showcase of new products in the market. Nestle Milo was developed in a time when there was a great depression. At this time, children had received low nutrients that were available in their daily diet (Milo Nestle, 2012).
The report moves forward to analyze Milo’ s marketing mix using the four principles of marketing namely; product, place, price and promotion. It also shows the major differentiation of the product in the market which earns it a competitive edge in the market. Finally, there is the conclusion and recommendations for Milo. 2.0 The Australian Target Market Nestle Milo targets children at the age between 3 years and 13 years old in terms of demographics. These include both male and female children (Villagarcia, 2010).
Additionally, the needs of the target market are the need for energy for taking part in sporting events, competitions, studying and involvement in an active lifestyle. These are the psychological needs of the market. In addition, this target market has the self-actualization needs of belonging in a higher social status, boosting one self-esteem and self-actualization (Villagarcia, 2010). The market believes that through consumption of Milo it obtains a healthier body and mind. One becomes a future champion, and one involves an active lifestyle (Villagarcia, 2010). 3.0 The marketing mix 3.1 Product Nestle Milo is a beverage that was developed in the 1930s by Thomas Mayne (Milo Nestle, 2012).
It was created using domestic milk knowledge together with cocoa expertise. The product is named after a character in Greece known as Milo known for his energy. The product was launched in 1934 in a public showcase of new products in the market. Nestle Milo was developed in a time when there was a great depression. At this time, children had received low nutrients that were available in their daily diet (Milo Nestle, 2012).
Nestle Milo was developed in response to this situation in order to help children grow stronger and healthier at these hard times. Since the 1930s, the product has remained relevant in the market despite the many competitors that have been introduced in the market (Milo Nestle, 2012). This tells one that Milo has a sustained competitive edge complimented by a strong marketing mix that will be reviewed in this report. It has a unique great taste. It is rich in carbohydrates and has preferred energy that acts as nourishment to the human brain, muscles and the nervous system.
It has other nutrients such as calcium, high amounts of proteins and starch (Milo Nestle, 2012). This product gives children essential nutrients that are needed in an active lifestyle of sports, competition, study and play. In addition, it satisfies the social needs of being in a high social status. These needs are joined together with self-esteem needs and self-actualization. In its advertisement, Milo is associated with a championship. It is said to be favorable for people who are involved in sports.
As seen earlier, Milo is highly nutritious containing nutrients such as calcium, proteins, starch and 6 other minerals (Nestle Milo, 2012). Milo can be categorized as a speciality product that is shopped mainly for the sake of feeding young children with the intention of ensuring that they grow healthier in body and mind. Moreover, it ensures that young children live an active lifestyle of exercise which helps them to be physically fit. This product was chosen because the market has faith and confidence in the product.
Additionally, it has been available in the market for many years since 1934. This shows that it has an established market. It is also a successful product that is interesting to learners because of its strong marketing mix.
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