Student Registration Number: | 130198710 | | | Word Count: | 2230 |
Marketing Audit of Nestlé Crunch
Nestlé Crunch is a famous chocolate confectionery in the US market, and take up almost 2% market share of the total (Barton 2014). This market audit will be split into three section, and separately analyze the business environment, marketing mix and STP (Segmentation, targeting and positioning). Finally, a conclusion will be drawn in the end of this assignment.
Business environment analysis:
In this part, it will analysis the business environment by using PEST model, Competitor analysis and consumer behavior …show more content…
Competitor analysis – Micro:
In general, there are four levels of competition in the micro-environment. They are generic competition, form competition, industry competition and brand competition (Solomon, 2013). Back to Nestlé Crunch, it is in the brand competition with other companies. As Barton (2014) indicated, there were at least seven products which were similar with Nestlé Crunch, though these seven products made difference function and position (Rewarding or Satisfying hunger) so as to better distinguish them, they still had the similar performance to customers, both in outward appearance and inward taste. And the biggest factor that influenced customers was the brand of products, and customers would prefer to buy a products with high brand awareness when choosing from the products. Hence, Nestlé Crunch is in the brand competition in micro environment.
Consumer behavior analysis:
As chocolate confectionery is a convenience goods, and anyone can easily buy it from the nearby stores, each details will influence the decision making process of consumers, and the