Published by MBA Skool Team, Last Updated: May 11, 2020
Marketing Strategy of Nutella analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Nutella marketing mix, help the brand succeed in the market.
Nutella marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Nutella Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Nutella marketing strategy can be explained as follows:
Nutella is a popular chocolate & hazelnut based sandwich spread, which is available globally. In terms of marketing mix product placement, the Nutella stands out unique due to its differentiating appeal to the taste buds. The product that is primarily used for breakfast, snacks or sandwiches and sometimes as desserts, is a symbol of quality and trust too because it claims to have no artificial colors and preservatives. The Ferrero group is devoted to saving the environment and this brand is also no exception. They come in packages of different sizes or styles with the most iconic being the jar. Basically, the brand tries to project itself as a unique amalgamation of “pleasure” and “nutrition”. It has several products like Nutella, Nutella Snack, Drink Brand Today etc.
Nutella Price/Pricing Strategy:
Below is the pricing strategy in Nutella marketing strategy:
Nutella applies premium pricing policy with an ideology that higher the price more the worth or value of the product.
Due to its unique taste, it has been successful in convincing their customers about this ideology. Going by the prices of its competitors, its price range is on a higher side. A typical 13 oz jar comes at an average price of around $4 while a 26oz jar comes at an average price of $6.5. Nutella sales prices do not fluctuate drastically and this proves their success in maintaining their brand reputation as a premium quality brand.
Nutella Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Also read Nutella SWOT Analysis, STP & Competitors
Nutella Place & Distribution Strategy:
Following is the distribution strategy in the Nutella marketing mix:
Nutella is found mainly in the grocery stores, retail shopping malls, some convenience stores and in some restaurants. Such is the widespread craze of this product that few restaurants have mushroomed recently for it by the name Nutelleria. It is a very well-known product and the company aims at increasing its presence in all the locations to make them readily available for their customers leading to maximized brand exposure and customer convenience.
With the increasing penetration of ecommerce websites worldwide, Nutella brand is now available across geographies.
Nutella Promotion & Advertising Strategy:
The promotional and advertising strategy in the Nutella marketing strategy is as follows:
Nutella spends a hefty amount each year (close to 0.5 million dollars) to create and keep up brand awareness as well as a loyal customer base. They always to play on the point of their difference against their competitors i.e. their unique taste and their promotional strategies are accordingly designed. The Nutella brand adopts aggressive campaigning and promotional methods to reach out to as many consumers as possible and convince them about their quality, taste, and design. The common channels of promotion include radio, television, and newspapers. This completes the Nutella marketing mix.
Termed as the best hazelnut spread, Nutella has been able to position itself as one of the household brands to cater to the appetite of a range of family members. The product that has been carved out from the tradition of winning formulations by the very famous Ferrero group, was originally formed as a proxy to the shortage of cocoa supplies following the World War II. Hence, Nutella carries a long tradition of serving the demands of a wide segment of people and is still going strong in the business.
Currently, it is the leading brand of hazelnut spread in the United States. What differentiates it from the rest is the unique taste that originally is a result of roasted hazelnut, skim milk and a pinch of cocoa.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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