PRICING :
A lot is at stake before the company introduces a particular product into the market with respect to the pricing of that product. A lot of market research goes into pricing a particular product.
Nestle has successfully done that over the past decades keeping their own margins on the product.
Example: Top Ramen is priced at Rs. 79 for 600 gms whereas Maggi 2-Minute Noodles is priced at Rs.76 for 600 gms.
Initially, Nestle faced a lot of hurdles introducing Maggi into the Indian market. Maggi was introduced in Indian market as a substitute to an evening snack. Hence, Nestle a low-cost price strategy to make Maggi affordable to the consumers by guaranteeing them value for money.
However, Maggi did face stiff competition from other noodle brands like Top Ramen, Wai Wai, Knoor etc. but Nestle continued providing Maggi at a basic and affordable price to appeal to the common masses. This helped Maggi become a household name in India.
These are the current prices that Nestle is offering for Maggi 2-Minute Noodles:
50 gm - Rs.5
75 gm - Rs.10
150 gm - Rs.20
300 gm - Rs.40
450 gm - Rs.60
600 gm - Rs.76
No comments:
Post a Comment