The Principles of Marketing

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Principle Of Marketing

Contents Introduction – Concept Product decision Research summary and strategy Pricing decision Promotion and media respond Launching schedule Marketing budget and profitability Conclusion References

Introduction – Concept

Seeing a rising trend of health conscious food, especially in nutrition food category, we decided to develop a new sport nutrition product that suitable and convenience for everyone, which could be an alternative choice for people who are busy and could not spend much time for a meal. According to Euromonitor International – Pass Port Sport Nutrition In The United King Dom (2013a, 2013b), there was an increases by 16 percent in current value terms in 2012, archived GBP260 million. Energy and nutrition bars sees increased 18 percent of volume with a current value increased of 12 percent in 2012. Protein product has been seen a growing non-stop since 2012. The increased of sport nutrition substitute grows steadily. There is also a forecast of raising a steady value of 13 percent, to reach GBP478 million in 2017 of sport nutrition. As can be seen, energy and nutrition food industry rises steadily in recent year. We chose Nestle as our existing company because Nestle is a national wide company famous for producing health and nutrition food. Our product is a new kind of energy bar, based on the innovative and reputation that Nestle has, we can make it easier to launch our product.

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Product decision

After conducting a research about energy and nutrition bar’s flavour, one common bar has sweet and fruity flavour, it is very rare for a customer to find and to buy a salty bar. Hence, to differentiate our product, we decided to develop a new flavour for our energy and nutrition product, which will be a salty energy and nutrition bar, which has cheese flavour. The main ingredients of our product is fat-free cottage cheese, which contains important protein-base nutrition. This ingredient helps people to build and enhance muscle, plus, it has very nice taste. The other ingredients of our product are: peanut, peanut butter, flour, sugar, Lo Han Guo powder, sea salt. Because this product contains peanut, therefore a word of advice for people who are allergic to peanut should not consume this product will be printed outside the package. We use aluminium foil to pack our product in order to keep it clean and fresh. We segmented our target customer in demographic, psychographic and behavioural. In demographic, our customer are both female and male, but we may focuses more on male, age from 18 to 36, working people and students.

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