A Competitive Audit Of Nestle's Milo

1437 words - 6 pages

A Competitive Audit of Nestle's Milo

I plan to produce a SWOT analysis, PEST analysis and a Competitive
Audit on Milo. This is because I’m going to need to produce a good
analysis on the market place, if I intend to create the best marketing
strategy. This is important because there are a range of options
available when creating a marketing strategy. Without these analytical
processes I will not be able to identify, which strategy is
appropriate.

I am going to produce a SWOT analysis to find out how effective Milo
is operating and what internal factors may influence its success. A
SWOT analysis analyses the internal factors that may influence the
success of a business. The initials SWOT stand for:

Strengths
Weaknesses
Opportunities
Threats

Strengths and Weaknesses are internal factors within the control of
the organisation. Opportunities and Threats are outside the control of
the organisation. For example, products offered by competitors, or
market forces such as seasonal fluctuations in demand. It enables an
organisation to plan future activities by considering a number of
questions such as:

* What are our Strengths? How can we build on them to ensure that we
offer a better product than our competitors?

* What are our Weaknesses? How can we eliminate them?

* What are our Opportunities? How are we going to use them to
attract new customers or increase the number of products that
existing customers buy?

* What are our Threats? How are we going to minimise them so that
they do not affect sales of our products?

Here are the advantages and disadvantages of using a SWOT analysis:

Advantages

* Identified strengths (value for money)

* Identified opportunities for marketing

* Identified weaknesses (problems to be addressed)

* Identified threats

* Structure for analysis

Disadvantages

* May contain biases (If based whole strategy on SWOT information
without considering validity of using other marketing tools could
cause strategy to fail)

* Results/Importance/Consequences need to be communicated to
everyone in company to make it successful not just more paperwork

* Prone to Human error

* Focus could become too diverse and loose main objectives

Here is a SWOT analysis on Milo:

Strengths

* Only chocolate energy drink

* Unique selling point

* Big sales in other countries

* Part of Nestle (reputation) funds available for relaunch

* IT is available in different sizes/formats

* Value for money

* Promotion/advertising done in other countries

Weaknesses

* Promotion hasn’t been done in UK

* Not widely available

* Not enough diversity in flavour

* Packaging (design of tin + labelling)

Opportunities

* Relaunch in the UK

* Summer coming up (people doing more activities)

* Increased media available (mobiles/internet)

* Increased fitness industry

* Increase awareness of health and fitness

* Can use U.S.P

* Sponsorship (through sporting events)

Threats

* Competitors (hot chocolate, energy drinks)

* Well known...

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