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Product Life Cycle of Maggi
Transcript of Product Life Cycle of Maggi
Product Life Cycle of
In May 2006, Nestle India Ltd (NIL), a major FMCG company in the country and a subsidiary of the Switzerland - based Nestle Group launched a instant noodles product called Maggi Dal Atta Noodles under the popular Maggi brand. This was the latest addition to the range of 'healthy' products NIL had been launching over the early 2000s.
Maggi in India
Focus on creating distinctive image, based on twin benefits of "Instant" & "Healthy"
Launch new advertising campaign with the brand ambassador
To boost sales, Nestle should try to reduce the price of Maggi Noodles. This can be possible by using thinner and cheaper packaging material.
High failure rates
High production costs
Nestle introduced the maggi brand in India with its maggi 2-minute noodles
Maggi 2-minute Noodles
Increasing rates of sales
Entrance of competitors
Development costs are recovered
In early 1990s, the demand for maggi noodles started to fall due to launch of Top Ramen, another instant noodle product
So, in order to increase sales, NIL formulated the flavor of Maggi noodles which wasn't accepted by the consumers.
In March 1999, NIL re-launched the old version of Maggi noodles after which the sales revived.
Long-run drop in sales
Large inventories of unsold items
Elimination of all non - essential marketing expenses
Sales are at peak
Profits are high
Cost per customer low
The marketing objective is to maintain or extend the market share
Maggie is a Nestle brand of instant soups, ketchup, sauces, seasonings and instant noodles.The original came into existence in 1872 in Switzerland, when Julius Maggi took over his father's mill.The brand is popular in Australia, India, South Africa, Brazil, New Zealand, Malaysia, Singapore, SriLanka, Bangladesh and the Philippines.
Let's we know about Maggi
The product was launched keeping in mind the working women and children
First mover advantage
The initial pricing strategy was low pricing strategy to make products affordable
Promotion - "Bass 2 mintue"
Prepared by Rohan Halori