The aim of this report is to evaluate marketing strategies used by Ferrero for the product Nutella in and few possible ways to improve it. Ferrero is a successful international company with over 21 employees and 7 million Euro turnover in year One of the best-selling products of this company is Nutella and my report will concentrate on this product and marketing techniques used by Ferrero to promote Nutella, as well as how they manage to achieve such a big success.
Marketing Ferrero Rocher is an Italian based confectionary company known for its high quality and uniqueness.
Ferrero Rocher currently holds 7. Ferrero is best known for its high and consistent quality over the decades focusing on consumers and their strategic understanding of global consumer needs enables their company to rapidly foray into global markets making Ferrero Rocher chocolates globally favourite.
Ferrero also ensures that they keep a secure retail supply chain thus ensuring a good relationship with their marketing intermediaries as well. Ferrero Australia was started in to delight the Australian consumers with the unique experience of high quality chocolates and it has been a growing market ever since.
Ferrero currently employs over people for their operations in Australia. The company does extensive testing of their products in Australia before the actual release showing how careful they are about retaining the high brand image they have attained.
Started in the online boutique sells premium gift boxes and corporate gifts containing ferrero products. The online boutique was started as a result of continuous request from customers in Australia particularly during the holiday season for chocolate gift boxes.
The online store also provides easier accessibility to consumers nationwide against the conventional shopping hence reaching a wider audience.
This not only improves the sales but also creates a great brand awareness of the product. It is this easier accessibility that will encourage Evaluation of nutella marketing strategy all over Australia to use the online boutique especially during the festival seasons.
The online Boutique in Australia offers a premium chocolate collection which is targeted at the upper middle class and the High class as they have the essential buying power and hence will take full opportunity of utilising the online boutique services. It also provides a refreshing experience by providing personalised packaging options like keepsake boxes and themed covers and special cards for writing to your loved ones that makes them feel special.
The assortments available in the online boutique is not available in the retail outlets, this creates a special feeling among consumers who use online boutique as they have been offered something unique and exclusive.
Since the target market is narrow Ferrero concentrates on constant enhancement of the services provided which creates a great value for the consumer and hence they become loyal to the brand. Thus, by providing a personalised relationship ferrero increases its brand loyalty among its consumers.
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|Evaluation of Nutella Marketing Strategy Essay Example | Graduateway||With the desire to make and create new products with state-of-the-art ideas, they son Michelle Ferrero continued development of company and revolutionised food habits of millions of consumers.|
Also the time taken is very less as compared to conventional shopping hence this serves as a boon to those who are time crunched. Bulk and corporate gifting also becomes much simpler as shopping can be done within minutes. Taking a look at some of the Microenvironment factors, 1.
Strong Company background 2. Reliable and secure supply chain 3. Australian Statistics, The above factors show that there is a very good marketing environment for online boutique in Australia. Impacts on other Business Segments: Online boutique offers only a range of premium chocolates and for gifting purposes which is more personalised and it caters to a narrow market, also the products available in online boutique is not available in retail stores and vice versa and thereofore this will not essentially affect the sales of the other products.
Also opening an online boutique will create more brand awareness and since it reaches a wider audience this increases the brand image of Ferrero and this will actually help increase the sales of other products offered by Ferrero Rocher. The existing distribution channel also gets enhanced as they have an additional market to cater to.
Since the online boutique is an integral part of the Ferrero Company the market share of Ferrero increases. Looking at the above points we can say that opening an online boutique will have a positive impact on its other business segments. The above factors show a positive growth in the brand image and equity for the company.
The marketing environment analysis also shows there is a good potential for an online store. The impacts caused by the online store towards its other business segments is also positive hence we can conclude that opening up an online boutique would be a profitable enterprise for Ferrero Rocher.
Ferrero Rocher is not an exception to this. Ferrero can further use the internet technology to increase the customer loyalty towards the brand by customer relationship management.
This is basically obtaining information about the individual customers to give a personalised output to the customer hence increasing the brand loyalty. Ferrero can also offer e-discounts and small gifts to valued customers making them feel more special and hence increasing the brand loyalty. Ferrero can also use search engine optimisation by creating tie-up with search engines like Google, Bing to enhance its brand awareness online.
The usage of smartphones is on the increase now and ferrero can use this to their advantage by creating mobile applications for not only engaging with customers but enabling them to buy.
This can be done by developing applications which enables the customer to buy ferrero products via their mobile phones which makes it even simpler and convenient for the consumers and it is this convenience that will increase the brand loyalty for the company.
Ferrero Rocher can also develop dedicated pages in social networking sites like Facebook, Twitter worldwide where there is a direct platform for the company to know its consumers better and cater to their needs accordingly. The online gaming industry is also on the rise and since kids are a potential market ferrero can sponsor online gaming tournaments, creates more online games hence creating huge brand awareness and a positive brand image among the younger generation.Eric is a passionate and motivated marketing professional with a curiosity for understanding and a drive for results.
Throughout his brand management experience on iconic brands like Nutella and Philadelphia, he's successfully led a wide array of projects in the following disciplines. Sharing customer testimonials is a great strategy for increasing confidence in future purchases.
Include these on your website, blog, social media pages, and more. You can easily gather quotes from happy customers when you conduct a marketing survey; just don’t forget to ask permission first!
The “Wake up to nutella” campaign was aimed to reposition the negative image of nutella in the UK. Ferrero UK decided in favour of using media tools such as Advertising, Sales Promotion, Public Relations and Direct Marketing in order to create synergy.
Moreover, we will focus our marketing efforts on shelving Nutella in an eye-catching spot in supermarkets, as well as advertisements on . Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.
Critical Evaluation of the Marketing Mix “The Marketing Mix is a combination of Product, Price, Place and Promotion (The four P’s) that helps increase sales to the target market” (McCarthy, cited in Combe p) This systematic tool is more commonly used once a business has decided on its overall competitive marketing strategy.