business assignment (1 Viewer)

Yusra366

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hey guys, so I have a business assignment for term 2 due next week Friday, where we have to create a marketing plan for your chosen business. So i chose nestle as a lsit of businesses were given to us from choose from. So one of the dot points wants you to find a product that has been released in the past 12 months and then wants a product life cycle for it. So i was wandering if anyone knows of such a product and where i can find the product life cycle for it? and also wanted to know if anyone knows what the market share of nestle is?
 

jimmysmith560

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I’m not sure if rebranding is accepted as a new product. But if is, it would be good to have a look at this:


The PLC for a product like this would be something like this:

- Introduction: This stage should be brief and the product should grow fairly quickly.
- Growth: The product should start to sell well because of Nestle’s reputation and already established, strong customer base.
- Maturity: this will probably be the longest stage as is with a lot of similar products. Sales will be consistent throughout this stage.
- I don’t think such products can experience declines, since they are regularly purchased and consumed.

Can’t seem to find info about Nestle’s market share, but their sales were US$93.1B (as of May 2020).

 

Yusra366

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I’m not sure if rebranding is accepted as a new product. But if is, it would be good to have a look at this:


The PLC for a product like this would be something like this:

- Introduction: This stage should be brief and the product should grow fairly quickly.
- Growth: The product should start to sell well because of Nestle’s reputation and already established, strong customer base.
- Maturity: this will probably be the longest stage as is with a lot of similar products. Sales will be consistent throughout this stage.
- I don’t think such products can experience declines, since they are regularly purchased and consumed.

Can’t seem to find info about Nestle’s market share, but their sales were US$93.1B (as of May 2020).

omg thank you soo much for this. This is of great help. really appreciated 🙏🏽
 

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