Marketing and Entrepreneurship Multinational Companies

Question: Describe about the Marketing and Entrepreneurship for Multinational Companies. Answer: As it is cited by Beth Comp Stock You cant sell anything, if you cant tell anything. And so marketing is considered as an essence of any business organization because it is the only way through which, business organizations can directly appeal their consumers for purchasing their products and service (MarraffaHudson, 2010). There are basically two types of marketing strategies, they are Mass marketing strategy and Market segmentation strategy. In mass marketing strategy, firm utilizes one strategy to attract numerous consumers of the market, while In market segmentation strategy, markets are divided in to several segments based on the geographical conditions, consumers tastes and preferences etc. and diverse marketing strategies are implemented to attract different types of consumers. Now, let us check out the marketing strategies adopted by the PG, Unilever and Nestle. PG, Unilever and nestle are the multinational companies, which deals in fast moving consumer goods. PG and Unilever have adopted segmented approach, while nestle have adopted mass marketing approach (www.unilever.com.au, 2016). Among all the above three companies, PG ranked first in promoting its products exclusively. The main reason behind its success is its innovative marketing strategies and consumer understandings (MarraffaHudson, 2010). PG have also diversified its products considering trends, which helped it to enter into the high growth markets. Apart from it, every year PG invest heavily in advertising and promotional activities to build up its brand (Nath and Bell, 2014). After PG, Nestle is able to achieve the second most position by diversifying its products and mass marketing. Nestle has developed a corporate wellness group to up surge the nutritional value of its products and thereby attracting the global consumers (www.nestle.com.au, 2016). Its packaging also plays a vi tal role in promoting its products as three elements are included in each package, they are Good to know, Good to remember and Good to talk. In addition to it, it does make use of its website to promote its products. Unilever stands at the third position due to its low-market products and outdated marketing strategies. There are several recommendations for all the above three companies for building their future in an efficient manner, they are as follows. Recommendations PG: PG being the leading company have larger budgets for marketing. So it can adopt new means of marketing such as social media marketing, content marketing and mobile applications, with the aim of sustaining its creditability in the market. Nestle: Nestle can up surge its revenues in future by producing the chain of products for the people suffering from obesity and diabetes and thereby contributing to the health and wellness of its consumers. Nestle can also make use of segmented market for promoting its products efficiently. Unilever: Unilever have to face low sales margin due to its out dated marketing strategies and so it is essential for the firm, to revise its marketing strategies. It is also required by the firm to diversify its products considering consumer needs and preferences. Unilever can also up surge its revenues by changing its packaging and promoting and selling its products online through diverse means (Steve Smith, 2009) References MarraffaHudson, M. (2010) A joint venture.Child Care,7(1), 34-34 https://dx.doi.org/10.12968/chca.2010.7.1.45736 Nath, P., and Bell, M. (2014) A study of the structural integration of the marketing and PR functions in the C-suite.Journal Of Marketing Communications, 1-27. https://dx.doi.org/10.1080/13527266.2014.933443 Nestle (2016)Home. Available at: https://www.nestle.com.au/ (Accessed: 20 August 2016) Unilever (2016b)Unilever Australasia. Available at: https://www.unilever.com.au/ (Accessed: 20 August 2016)