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Marketing Objectives Of Nespresso

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Marketing objectives
Before Nespresso sets up their marketing objectives there are various factors the business needs to keep in mind. They need to analyze the markets in which they operate, set marketing objectives, select marketing tactics and strategies and develop and implement marketing plans. Once they have decided this, they will be able to set their marketing objectives, in other words goals, which the business will obtain through its marketing. Nespresso has three main marketing objectives: Creating the highest quality Grand Cru Coffees as their coffee contains the finest selection around the world. Second, creating long-lasting consumer relationships since their brand loyalty is extremely important. Third, creating sustainable business …show more content…

It has to be specific; the muffin will be in the form of a capsule and will have coffee as one of its key ingredients. It has to be measurable; it is important that I have an objective I can objectively measure, if not it will be difficult to know whether I have achieved it or not. It needs to be ambitious but realistic. The purpose of relevancy is to engage the customers that like coffee to have a “muffin” on the side of their product and to target people that do not like coffee by itself, but might like it in a muffin. It will be achieved in the given period of time (6 months to 1 year time span) and there will be a review to see what customers think about it. Concerning Growth and Profitability, Nespresso will want to increase sales, revenue and profit through marketing. One of the ways it can do this is by selling new products or charging a higher price. By launching this new “muffin Nespresso”, the business is aiming to grow with a category that is not coffee, to create a competitive advantage over their rivals. Through marketing, Nespresso will be able to do …show more content…

According to Euromonitor International, ever since 2007 the value of capsules has grown at more than five times the rate of the overall coffee industry. There are various strategies that Nespresso will test in order to improve their market share. One of their all-time goals is to expand and innovate with new products therefore these muffins are a good idea. Another objective is to increase their market share, with these new muffins Nespresso will try to attract new product users.
Nespresso has achieved a specific image for the brand through, among other actions, using George Clooney in its advertisements. This kind of advertising contributed to Nespresso becoming one of Nestlé’s fastest growing units and a brand with very good profit ratios. “US consumers bought 3.1 billion dollars’ worth of coffee pods last year.” According to market research firm Mintel, in 2018 the figure is meant to rise to 5.3 million

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