Marketing Plan Report: Introducing an Amended Product for Nespresso

Section 1: Business Vision and Mission

Vision: To be the leading provider of premium coffee experiences globally.
Mission: To inspire and nurture the human spirit – one cup, and one customer at a time.

Section 2: Conduct a Marketing Audit

Current Market Situation:

– Strengths: Strong brand reputation, innovative technology, wide product range.
– Weaknesses: Limited sustainability initiatives, high price point, limited accessibility.
– Opportunities: Growing demand for sustainable products, emerging markets, customization trends.
– Threats: Intense competition, economic downturns, changing consumer preferences.

Proposed Amended Product:

Introduce a line of Nespresso coffee capsules made from ethically sourced and organic coffee beans to cater to the increasing demand for sustainable and eco-friendly products in the market.

Section 3: Determine Marketing Objectives

1. Increase market share by 15% within the next year through the launch of the new sustainable coffee capsule line.
2. Improve brand perception by emphasizing Nespresso’s commitment to sustainability and ethical sourcing.
3. Expand customer base by targeting environmentally conscious consumers and millennials.

Section 4: Develop a High-Level Marketing Plan

Product:

– Launch a new line of Nespresso coffee capsules made from ethically sourced and organic coffee beans.
– Offer a variety of flavors to cater to different consumer preferences.

Price:

– Set competitive prices for the sustainable coffee capsules to attract price-sensitive consumers.
– Implement a subscription model for recurring purchases with discounts for loyal customers.

Promotion:

– Collaborate with environmental organizations to promote the sustainable aspects of the new product line.
– Utilize social media platforms and influencer partnerships to create buzz around the launch.

Place:

– Make the new sustainable coffee capsules available in Nespresso boutiques, online store, and select retail partners.
– Ensure easy accessibility and convenient purchasing options for customers.

People:

– Train staff to educate customers about the sustainability initiatives and ethical sourcing practices of the new product line.
– Provide excellent customer service to enhance the overall brand experience.

Section 5: Conclusion

In conclusion, the introduction of a line of Nespresso coffee capsules made from ethically sourced and organic coffee beans aligns with Nespresso’s vision and mission while capitalizing on the growing demand for sustainable products. By implementing the outlined high-level marketing plan, Nespresso can not only attract new environmentally conscious customers but also strengthen its brand image and market position. This strategic move will contribute to the long-term success and sustainability of the business.

References

1. Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
2. Brassington, F., & Pettitt, S. (2013). Essentials of Marketing. Pearson Education.
3. Armstrong, G., & Cunningham, M. H. (2012). Principles of Marketing. Pearson Education.