The Best Business House

We reside in an era of innovation and technology which is dynamic in nature. Those who want perpetual succession needs to update and change themself according to the environment. The reason if we static at same conventional position we may not attain our long term goals and even it is difficult to hold the same peak point. It is applicable in all fields although I pointed out here the organisations who are rendering their services with the ultimate aim of earning profit along with customers overall satisfaction. Nowadays the scenario of doing business has entirely changed with the demand, preference, perception, earning and standard of living of a consumer. All the essential factors have to be kept into mind while dealing with the targeted consumers. Otherwise even the big business houses can survive for so longer. For instance- We don't like to have the same dish or vegetables everyday as it reduces our taste and we get fed up by it alike it happens with the business houses. Therefore, we can say change is the part of life and even its fine to be changed to some extent in a good manner. We have numerous illustrations of all those business houses who entered into the market and gained the reputed position but after years it got declined to stay longer at the same peak point. There can be number of factories but one of the main reason was that they didn't change themself or failed to do that as comparison to their rivalries whether existed or new one. Though it is complicated for the reputed business houses to be competitive, every next move decide in advance so that they can play safe strategically by using advanced tactics. We all are familiar with one of the renowned parent company named " Nestle" and its most demanded food brand "Maggi" that contributes more than half of the percent of total turnover of Nestle company which have different merchandise. The brand Maggi was founded in 1884 Swiss entrepreneur Mr. Julius Maggi. He focused on producing ready to eat food for the people who had lots of busy schedule. In1947 when India got independence, in the same year Nestle acquired the Maggi Company. Whereas, Initially Nestle's Maggi was arrived in India in 1983. Nestle India limited is the Indian subsidiary of Nestle. It's headquarter is in Gurugram, Haryana that is in National Capital Region. In India Nestle Initially set up in Moga, Punjab in 1961. Nestle is the world's (FMCG) fast moving consumer goods' company. As the products of Nestle company are sold quickly and relatively of low cost. Nestle's Maggi Noodles became a market leader among its major rivalries like- Top Ramen, Patanjali, Sunfeast Yippee, Knorr, Wai-Wai etc. It is demanded in several other countries too like Germany, Australia, New Zealand, Sri Lanka, Switzerland, U.K etc. Besides, six years back in 2015 Nestle's Maggi came into a controversy in India when the amount of (MSG) Monosodium glutamate and Lead was found out much more than the permissible standards by the (FSSAI) Food Safety and Standards Authority of India. In accordance with that the market shares of Maggi declined drastically. The data which is sourced from its annual report for the year 2019 depicts that the company sold 264.1 tonnes of Maggi products as comparison to 254.6 tonnes in the year 2014 which was prior to ban period. In the crisis year of 2015 it was declined to 103.1 tonnes but gradually it recovered in terms of quantity and value. The company lost on a higher level as it removed more than 30000 tonnes of the Maggi noodles. The parent company with positive outlook and foresightedness took several actions even after a big crisis happened in the past. By making strong marketing strategies, tactics and marketing-mix company came on the track again. The strong decisions with 360 degree analysis it took a big decision to be stayed in the market with a big heart at high risk. So the company decided to do few selected advertisement with such touchy tag lines that could catch the sight of its consumers. Therefore in the banned period there were the tempted advertisement which made the bond and kept the sense of closeness among the consumers by such sentimental tag lines like via Miss you compaign- "Kab Wapas Aayega Yaar? Miss You", "Ab As Bhi Jai, Miss You" etc. Consequently, Nestle enhanced its budget on advertisement by 96%. We can say that the importance of marketing plays a vital role in business. With strong determination and foresightedness one can reach from bottom to the peak level. The company was in touch while in the crisis period so that they hold the consumers showed their presence. The company followed the strong marketing strategies. They advertised all over the social media like- Television, Facebook, Instagram etc. The company worked more on Marketing, Sales & Distribution Strategies. Pricing strategy of Maggi also played a great role in maintaining the level and continued it post crisis too. It maintained the same pricing strategy even after a huge loss to the company by reducing the quantity without changing the price. Maggi noodles is in demand from urban to semi-urban and rural areas of the country in this way distribution strategy also assists and plays a big role in capturing the market share. By properly analysing and evaluating the consumers and market entirely company came on track again post ban period. It enhanced its total sales from 103.1 tonnes in 2015 to 264.1 tonnes in 2019 with strong marketing mix. FSSAI, CEO Pawan Agarwal declared Maggi noodles completely safe for consumption. Liking for maggi- 2minutes noodles maintained the same taste and preference In the consumers' mind. It was the biggest achievement for the brand like Maggi to get the lost % of market share. Even after years in the pandemic period of 2020-21 it was in huge demand for Maggi to be stored in warehouses, shopping malls, departmental stores, Kiran stores and at homes. Nestle India's Chairman & MD, Suresh Narayanan told about the company's brands and business. He also elaborated about the Five Ps of Nestle that are - people, purpose, partnership, planet and performance. Further, company is stressing on extending the company's ecosystem and distributing infrastructure. Credit also goes to the digitalisation of a nation as a whole. E-commerce played a vital role in the availability of products to the doorstep of the consumers in such a crucial time of pandemic. Innovation along with renovation contributes a lot in getting the company on the peak point. We know that today's world is dynamic which changes rapidly with cut-throat competition in terms of technology, competitive advantage, tactics etc. If a marketer wants to be competitive then it is necessary to know the consumers and be in touch with them emotionally and mentally. Only then one can pace towards success like the parent company of Maggi did during crisis and post crisis. Words of mouth should be in sync with on ground position of a product. Nestle is trying to work on two dimensions one is Diversity and other is Sustainability. Both will be employed for the betterment of the company. Diversity means to diverse the products at each and every level so that a company can embrace and hold it's differential consumers. Whereas Sustainability means to be in existence with continuous growth by optimum utilisation of scare resources. Nestle has an ongoing programme named HILLDARI which focuses on constructing towns in hilly areas along with trying to assist garbage collectors by facilitating them medical insurance. It's a very good step taken by Nestle company towards social-task of humanity. Nestle company hires the potential , active and skillful employees. It has almost 80% millennials. In accordance with this we can say that it is an advantage because millennials are readily adapt the change as they faced it in their real life too. The drastic change of technology, education, fashion, taste, preference and insights occurred in their period. Nestle company proved itself in several ways like it is a company full of optimism while it was the worst period of Nestle in 2015 though it looked on the brighter side by excusing all the obstacles came its way. It took all the hurdles as an opportunity to prove itself as one of the biggest brand by reconstructing the business. The India Business Leadership Awards (IBLA) is a platform to acknowledge industry leaders across various industries, for those creating history with their surpassing leadership skills, while keeping an eager eyes on India's future. It is an extremely big achievement for the parent company Nestle to get the award of Outstanding Company of the year, under 16th India Business Leader Awards in March 2021. It depicts that numerous herculean tasks has taken up by the company. No one can get a limelight effortlessly. I quoted it in a single line- Achievement is the ripened form of hardwork and struggle we do.