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Strategy in practice Essay Example

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Strategy in practice

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The strategic approach of Nestle has made it acquire more of the market share through its innovation.Nestle is a Swiss company which was founded in the year 1866 by Henri Nestle. In today’s scenario it is the world’s largest beverage and food company. The corporate objective of this company is enclosed in its phrase ‘Good Food, Good Life.’ The journey of Nestle to become the world’s largest food company was not a cake walk. It required a well proved strategy formulation by which they could overcome the competition and offer the best quality of products to its consumer. Nestle has always followed the strategy of putting the consumer’s first. Nestle has always tried to design their products according to the changing needs of the consumers. The strategy was to make their consumers so much satisfied with their brand that they choose only Nestlé’s products over its competitors. As illustrated in Appendix 1. The company tried to appreciate the needs of customers belonging to all age groups (Simerson, 2011, pp. They believe that a company’s success and growth depends on the consumer’s trust towards the brand and its product quality. Their employees always think from the consumer perspective may that be designing the product or product packaging. Even the executives of the company spend some days in the homes of the consumer and also in shops to observe the consumer behaviour deeply. The hand on research like that which the company follows through its executives is much more beneficial and rewarding compared to those quantitative studies (Schwarz, 2003, p.The strategic approach of building such an innovative brand portfolio consisting of products belonging to all consumer category and market range has helped Nestle to have a long term profitable growth. The understanding of consumer needs is well seen in its products, example, Maggi soups in Indonesia and Germany. The Maggi brand remains the same but the product is different with different textures and flavours to meet the local tastes. Nestle does not follow a standardized taste worldwide. It adapts to specific changes in order to meet the local taste of the consumers. Nestle has more 10,000 products in order to meet the local needs. It operates in over 80 countries with almost 500 countries. Their brand portfolio is such that they target even the low income group with products of good quality in terms of taste and nutrition (Nestle, 2013, pp. This portfolio has been

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preview essay on Strategy in practice
  • Pages: 12 (3000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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