Topic > Analysis of Nestlé's Marketing Approach through the Milo Cricket Program

This report will describe and analyze the marketing approach of Nestlé as one of the largest food and beverage companies in the world, through the Milo Cricket Program. Furthermore, it will use applicable theories to support reasoning and evaluate how Milo Cricket is engaging in the Australian society and market by explaining specialisation, embodied exchange and relational trust. It will also provide the map of the sequence of events of Milo Cricket and the theoretical framework drawn (Popplet map). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssaySpecializationSpecialization begins with skills, knowledge, and new ideas that create wealth but not necessarily allocate it. Specialization is one of the important aspects of 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, the result of specialization is to involve more people, develop business networks, connect communities and introduce cultural change and diversity; and also highlights how through these changes, marketing systems: EmergeGrowAdaptAnd evolve. Furthermore, Gudeman introduced autarchic systems and explains that these systems can shift towards emergent systems as the advantages of specialization are exploited, a process which is influenced by increasing diversity over time of household needs and wants, population growth and agglomeration. Gudeman's statement is in line with the Smith-Young term, according to which diversity and specialization interact mutually to provide a mechanism for growth. Embedded Exchange In the marketing system, embedded exchange is one of the activities that create value for customers, partners and society at large. . According to Bovee & Thill, value exchange and lasting relationships are essential elements of successful marketing. The purpose of the integrated exchange is to create long-term relationships with customers by offering more than just an assortment and also present a great experience to customers. emotionally engage customers, as well as satisfy aspects of reciprocity. However, in today's modern world and competitive environment; developing relationships and gaining the trust of customers, both individuals and groups, plays a critical role in the success of marketers. Integrated exchange also allows multiple organizations to collaborate and exchange knowledge to meet society's needs and desires at the macro level and create economic growth. Because of this view, Uzzi admitted that embeddedness 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, which is based on qualitative findings and an extensive literature review; Relational trust is one of two factors at the relational level and positively relates to members' interaction and involvement in activities. Morgan and Hunt (1994) define relational trust as valid when one party has confidence in the reliability and integrity of an exchange partner. Trust between community members increases the likelihood of ongoing and long-lasting commitment to the brand community within this theoretical framework; furthermore, relational trust encourages exchange and reduces risk.