Behavioral: Magi has segmented its market on the basis of product usage rate, its occasional usage characteristic, willingness of the buyer to purchase and the product benefits they sought. Cryptographic: Segmentation of market by Magi has been done also keeping in mind the lifestyle of urban families, office-goers, working women, health consciousness of people and children’s need for taste and fun. Targeting: Initially Magi targeted the children and working class women . Later it extended its reach to the young college students, professionals.
Now it has also represented itself as a food product for all age groups and hence including the old age. Positioning: In the beginning Magi positioned itself as a convenience product for mothers and fun product for children. Keeping in mind that people are becoming more and more health-conscious it has become a health product as well. Magi stands strongly in instant food market. Marketing Mix Product: Magi is a nestle brand of instant food products right from instant noodles, ketchup’s, sauces, cubes, seasonings etc. It was introduced in India in 1982.
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Some of he major products of Magi are: Magi 2-minute Noodles, Vegetable data noodles, Magi Sauces, Magi Miasmal, and Magi Soups. Price: Understanding that Magi is a snack and only some would be willing to pay more, it has priced its products accordingly. Also to extend its reach in the rural market Magi has introduced value for money packs priced at RSI 5. Place: Magi as brand has a wide reach across the market, be it a small retail shops on the streets to the big ones like Big bazaar. Its distribution network is also well spread.
Promotion: The promotion strategy initially regarded working women and children with attractive ads and tastiness such as “Mummy book Alga Hahn Bas 2-minute”. It has always focused its promotional strategy around family. Over the years it has tried to connect to its target consumers by inviting experiences and innovative recipes, Magi Viceroy campaign, various exchange scheme, return gifts, coupons and free promotional trial packs. It has also tried to attract its potential consumers by attractive packaging. Competitions: Initially Magi was the sole choice in the instant food category . UT later when Magi was acing problems due to change in taste, Top Ramee cashed on the opportunity and emerged as a strong competitor. Presently Magi is also facing competition from new entrants like Horrific Foodless, Nor Soupy noodles, Sunniest Yippee noodle, Tasty Treat and several other smaller players. SOOT Analysis Strengths: Maggie is market leader in the instant food category, especially instant connect with them. It has a strong distribution network and high advertising share Weakness: Throughout the years flavors have remained the same and any new innovation in taste has not been welcomes by consumers.