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Essay / Analysis of Nestlé's Marketing Approach through the Milo Cricket Program
This report will describe and analyze the marketing approach of Nestlé, one of the largest food and beverage companies in the world, through the Milo Program Cricket. Additionally, it will use applicable theories to support reasoning and evaluate how Milo Cricket engages with Australian society and the marketplace by explaining specialization, embedded exchange and relational trust. And will also provide a sequencing map of Milo Cricket events and a drawn theoretical framework (Popplet map). Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essaySpecializationSpecialization begins with skills, knowledge, and new ideas that create wealth but do not necessarily award it. Specialization is one of the important aspects of the marketing structure, which fits perfectly into the marketing system; and focuses more on the macro level of marketing and increases the efficiency, effectiveness and productivity of the workforce and also develops economic growth. As Layton (2009) explains, specialization results in involving more people, developing business networks, connecting communities and introducing cultural change and diversity; and also highlights how, through these changes, marketing systems: Emerge, Grow, Adapt And Evolve. Gudeman also introduced autarchic systems and explains that these systems can drift into emergent systems as the advantages of specialization are exploited, a process which is influenced by the increasing diversity over time of household needs. and needs, population growth and agglomeration. Gudeman's statement aligns with Smith-Young's term, which states that diversity and specialization mutually interact to provide a mechanism for growth. Integrated Exchange In the marketing system, integrated exchange is one of the defined activities that creates value for customers, partners and society as a whole. . According to Bovee & Thill, value exchange and lasting relationships are essential elements of successful marketing. The aim of integrated exchange is to establish a long-term relationship with customers by offering more than just an assortment, and also to present a great experience to customers. emotionally involve customers, in addition to respecting aspects of reciprocity. However, in today's modern world and competitive environment; By developing relationships and gaining trustworthiness with customers, individuals and groups play a vital role in marketers' success. Integrated exchange also allows multiple organizations to collaborate and exchange knowledge to meet societal needs and desires at the macro level and create economic growth. Because of this view, Uzzi admitted that integration creates economic opportunities that are difficult to replicate through markets, contracts, or vertical integration. Relational trust In the model proposed by the authors of “Brand community engagement in Taiwan”, brand community engagement has three levels of antecedents. which are individual, relational and group, based on qualitative results and an in-depth review of the literature; Relational trust is one of two relationship-level factors and is positively related to member interaction and activity involvement. Morgan and Hunt (1994) define relational trust as when one party has confidence in the reliability..