Describe a new fictitious product idea that you believe would be a logical fit for Nestle and its brand promise as well as commercially successful in a new international market of your choice. Also, describe the market research approaches you chose that you believe would be most effective in determining the relevant segments and demand for this new product. Your post should explain why you believe they would be most effective in allowing you to better understand three of the following topics in terms of market demand:
- Current brand strength (e.g. measures of brand equity)
- Market and segment size and growth
- Customer segment characteristics
- Competitors and alternatives
- Buyer behaviour and the buying process (i.e. choice criteria)
- Potential for the use of digital marketing processes (e.g. ecommerce, social media) to support the customer buying process.
Be sure to include specific examples and support your postings with evidence of the Readings and other current literature.