Nestle Marketing Analysis

nestle merchandise AnalysisThis is a report as well as a securities indus giveing plan about nestle and its pertly proceeds Nescafe wit. The report is about the Halal food leader go up (Malaysia) and its activity on how they food market their merchandises and sustain their leader position in the accredited market. More over, on that point will be a detail analysis on the current market particular which included SWOT, PEST and financial analysis plus the marketing strategies applied by the company in hostelry to domain the market. The marketing strategies will throw out the discussion by involving the determine, point of intersection, distribution and progression strategies. However, the main focus will f al integrity on the company Nestle Malaysia, the market of soluble cocoa, the instigant Nescafe and its revolutionary souseed products. In addition, recommendations and solutions are provided by the author to solve the current scenario and overcome the probl ems.Nestl (Malaysia) Berhad plays the role as the leader of Halal food manufacturer and the first international to voluntarily request for Halal Certification of all(a) its food products when it was first introduced in 1996. Nestl is establish in 1912 and public-listed on Bursa Malaysia since 1989. Currently the swelledgest Halal producer in the Nestl world. In Malaysia, Nestl employs 5000 people, owns 7 factories and 6 sales off glassfuls plus one national distribution centre. The head office based in Petaling Jaya, Selangor. (Nestle, 2008)NestlWorldwideNestl is a international company that leading the global food business. It is founds by a Swiss chemist Mr. Henri Nestle. Nestl subscribe the worlds largest food manufacturer and the worlds largest private nutrition research capacitance based in Switzerland. Overall, Nestl give birth in over 100 countries with 276,000 employees worldwide and 456 factories in 84 countries. Currently, Nestl owns over 8500 brands and produce ove r 10,000 various products. Nestl hits the sale of 32 billion products yearly. Furtherto a greater extent, Nestl ask 24 Research Development centres worldwide and invest RM5 billion annually on RD. (Nestle,2008)Introduction about the product NESCAFMENUAt November 2009, Nestle introduced a new set forth of beverage to captures topical anaesthetics heart. unsanded Nescafe menu is your menu of Malaysian favourite. Bring home the authentic taste of your favourite chocolate shop slaps anytime and anywhere. (Nestle,2009)Key BenefitNestle provides good quality products with improving nutrition and health benefits under Halal policy benefits everyone especially Muslims so that consumers dejection whoop it up their favourite food or beverage without worries with the Halal assurance promised by Nestle. (Nestle,2010)The introduce of Popularly Positioned outputs (PPP) brings affordable nutrition accessible (based on local anaesthetic conceiveations, food regulations, nutrient defic iencies and public health concern) for society and leads a rock-loving lifestyle and diet plan with the Nestl Nutritional Compass label in all nestle products. (Nestle,2008)Talk about the new Nescafe menu that contains coffee as the main ingredient. In fact, according to Don Howat (2009) coffee is something great because it contains antioxidants. Meanwhile, he hopes that there is a transfigure of the wrong perception coffee is bad for health among Malaysian and able to target non-coffee drinker and sum ups the consumption of coffee in Malaysia which is consider as subaltern compared to other countries.Current Marketing SituationNestl Malaysia, currently the biggest Halal producer in the world, markets more than 300 Halal products in market, is warranting its betrothal as the Halal Centre of Excellence for Nestl worldwide. Exports its products to more than 40 countries worldwide with export sales of over RM470 million. Imports Halal products from the 66 Nestl factories worldwid e that are bear witness Halal. (Nestle,2010)According to Philip Kotler and Gary Arm conceptive (2010), differentiated marketing means a fuddled decides to target several market segments and design separate offer for each.Nestle (Malaysia) utilizing differentiated marketing (segmented marketing) outline by having several categories of product that means to target different guest.Categories of product in MalaysiaExample of brand name in Malaysia Coffee and drunkenness Nescafe / Milo Culinary Aids/ Prepared Foods Maggi Milks Nespray/ Nesvita Liquid Drinks Perrier Junior Foods Nestle Baby Cereals Breakfast Cereals Nestle Breakfast Cereals Chilled Diary Nestle Bliss/ Nespray yogurt Ice-cream Nestle ice cream / Drumstick Chocolate and Confectionery Kit-Kat / Smarties / Milkybar Healthcare Nutrition Nutren Optimum / Fibre / Junior Performance Nutrition POWERBAR Performance / gelatin Nestle Professional Nestle ProfessionalTable 2 Nestls categories of product and brand name in Malaysi a adapt from Nestle in your life, our brands, 2010. From http//www.nestle.com.my/nestle+in+your+life/our+brands/Nescafe commands 70 per cent market share in the coffee segment locally Nescafe practises differentiated marketing too by having 5 different tend of coffee (mainstream coffee, healthy coffee, Nescafe Classic and Gold). Simultaneously, Nescafe Menu marketing three different beverages that include Nescafe Menu Tarik, Ipoh White Coffee and Nelso to targets a group of local people (Malaysian) includes coffee lovers and non-coffee drinkers (all age) by pass coffee shops all time top get byer. (Don Howat, 2009)Product review for NESCAFMENUNescafe Menu Tarik-satisfy your craving for a pleasing foamy cup of coffee and indulge in the authentic taste of a tarik.Nescafe Menu Ipoh White Coffee-three minutes are all it takes for you to enjoy a deliciously creamy, smooth and aromatic cup of Ipoh white coffee, anytime of the twenty-four hours or night.Nescafe Menu Neslo-for those wh o must have your morning cup of neslo before the day can start, heres the one for you with the rich taste of Nescafe coffee and the goodness of chocolate malt, all serve in one delicious croak.Table 2 Product Review of NESCAFMENUAdapted From Nestle in your life, our brands, beverages Nescafe, NESCAF MENU, (Nestle, 2010) From http//www.nestle.com.my/Nestle+In+Your+Life/Our+Brands/Beverages/Nescafe.htmNew Nescafe Menu benefits consumer by giving them a big flexibility and in-home enjoyment without stepping out the house to coffee shop for beverages. The new Nescaf Menu range is available at all leading supermarkets and hypermarkets in 15-pack bags at the recommended retail prices of RM12.90 (The Star Newspaper 2009).Currently, only the white coffee produced by old town is consider as the direct competitor because they having the same product as Nescafe Menus white coffee. PowerRoot and BOH are indirect competitor because they dont have the same (but similar) product as Nescafe Menu yet they are the strong competitor in the market so its important to find an eyes on the companys activities.Competitive ReviewWhite Coffee 3-in-1 Classic by centenarian Town* Old Town kopitiam(coffee house) had 141 outlet in Malaysia and still growing (old town, 2010).* Rated as Malaysians favourite hang out place for its signature white coffee.* A perfect, smooth blend of original white coffee. Rich, creamy and aromatic, it has a heightened lingering mouth feel (Old Town, 2010).* 15 sticks in a Packet, RM12.90* The famous Cameron Highland tea* Rated as Malaysias all time local favourite beverage.* Experience the robust, full-flavour of Boh Teh Tarik Kurang Manis with less sugar in each convenient sachet* 12 sachet in a packet for RM7.90Oligo texture (6 in 1) by PowerROOT* Nescafes main competitor for soluble coffee range* Cereal drink mixed with a fine blend ofoats,cereal,B-Glucan,Oligofructose, sugar and non-dairy creamer* 12 sachet in a packet for RM12.90PEST analysisNestls PEST Analysis(P)olitical* In support of the Governments efforts to combat non-communicable diseases in the country, Nestle collaborated with relevant NGOs to participate actively during the Nutrition Month Malaysia campaign to promote good nutrition in the community (Nestle, 2008).* Nestle is in full support of the Governments efforts to advocate healthier diets and active lifestyles to service counter problems associated with obesity, diabetes and cardiovascular diseases. We have made significant change to improve our products profile to complement the Governments efforts to take a healthier population (Nestle, 2008).(E)conomic* Flat domestic sales reflects slowdown in local economy and changes in consumer spending behaviour. (Nestle, 2009)* The weak market sentiments due to the global economical slowdown and changes in consumer spending behaviour (spending less and saving more), have some bearing to the Groups domestic business, which remained flat for the period under review . (Nestle, 2009)(S)ocial* Nestle was founded on social responsibility, sound human values and principles more than 140 years ago (Nestle, 2008).* Malaysias majority = Muslim. Consumers trust and confidence on quality and peace of capitulum for Muslim consumers (Nestle, 2008).* Our interest in Halal was borne out of social responsibility and respect for our Muslim employees and consumers, and today, we are beginning to appreciate the long-term enthronization we have made in manufacturing and marketing Halal products (Nestle, 2010).* Though it is a global brand, Nescafe is locally produced to meet the taste preferences of local consumers (Nestle, 2010).(T)echnology* Improve innovation technology and provider development through Halal knowledge (Nestle, 2010) plus innovate renovate nutritious and healthier products using RD expertise (Nestle, 2008).* Every Nestle product undergoes as extensive RD go and a stringent quality standard before it is launched, because we value the trust that our consumers have in us (Nestle, 2008).* Nestle consumers all over the world benefit from world-class manufacturing facilities, the best private RD capability in food and nutrition, international quality and safety standards but with products catered to local preferences (Nestle, 2010).* Our global investment in RD clearly shows Nestls commitment in innovating and renovating products based on scientific evidence and trials (Nestle, 2008).SWOT Analysis(S)trengths(1) High market share For instant, Nescafe commands 70 per cent market share in the coffee segment locally as the leader. (Don Howat, 2009)(2) Size, operational efficiency and financial power Owns 7 factory and 6 sale office at Malaysia with one national distribution centre that involve exportation of Halal product to more than 40 countries. (Nestle, 2008)(3) Wide range of products Nestl owns over 8500 brands and produce over 10,000 different products. (Nestle, 2008)(4) Ability to customize global product brand to loca l preferences For example, markets more than 300 Halal products in market, to more than 40 countries. (Nestle, 2008)(5) Strong Research development Have 24 Research Development centres worldwide and invest RM5 billions annually. (Nestle, 2008)(6) Halal policy Helps in targeting Muslim by assuring them with all product is Halal and also attract non-Muslim customer at the same time. (Nestle, 2010)(W)eakness(1) Very narrow product line for beverages Only promotes chocolate malt (milo), coffee (Nescafe) and milk beverage.(O)pportunity(1) New product discover (expanding product line) The discover of New Nescafe Menu is a good example whereby it also help to expands the range of coffee under the Nescafe brand. In the future, they maybe will produce coffee candy in different flavour.(2) Changing of customer needs/tastes For instant, customers have more sentience toward their health care and wish to have product that come with low sugar contain thus Nestle can introduces their products w ith low sugar contain to fulfil customers needs.(3) New technology To improve the products quality by implementing the new technology and maintain their market share in the industry.(T)hreats(1) sparing downturn Threaten profit margins and bottom-line. If the firm decides to cut cost, many people might lose their job and social responsibility is frequently put on hold. (Nestle,2008)(2) Entry of new competitor For instant, the Starbucks also blends into the soluble coffee market with their signature premium coffee. Thus, Starbucks might affect the sales of Nescafe premium range product.fiscal AnalysisFinancial analysis use and transformation of financial data into a form that can be used to monitor and evaluate the firms financial position, to plan future support, and to designate the size of the firm and its rate of growth (allbusiness.com, 2010).Based on the 5 years statistics (appendix 2), it proved that the company is growing healthy from the year 2004 to 2008. In 2008 Nestle Malaysia post a turnover of RM3.9 billion (approximately) for the year ending 31 December 2008, which represents a 13.5 % growth over 2007. cabbage before tax is increasing from year 2004 to 2008. However, the percentage of turnover which is rated as 11.6% in 2007 fall to 11.4% in 2008, due to heavy capital expenditure(which contributed to higher financing costs) (Nestle, 2009). With the implementation of lower tax expenses by government, Nestle (Malaysia) manage to nudge the profit margin after tax from 8.5% to 8.8%. According to Nestle (2009), the Board of Directors has recommended a final net dividend of 80 cent per share, giving a total net dividend proposed and declared for the financial year of 191.19 cent per share that represents a 68.0% accession compared to the previous period and hits the highest in the Groups history.From the balance sheet (appendix 3), we can see that the Nestle group and Nestle Malaysia are growing stronger and having a very imperious view about the ir assets with the increments. Overall, the group have RM1,660,401,000 of asset while the company have RM1,110,879,000 of assets. Furthermore, it achieved a balance with their equity and liability that shows the company is healthy with strong financial.By observing the income statement (appendix 4), the company is making more profit (compared by year 2007 and 2008). Nestle Malaysia hits RM435,269,000 of revenue for 2008 which is higher than year 2007 by increase of RM75,116,000. For the Nestle group the gain approximately RM3.9 billion at 2008 and its better than the previous year with RM3.4 billion. The basic earnings per ordinary share (cent) for year 2008 is one hundred forty-five while year 2007 is 125. It shows that currently the company is still doing well.Based on the property flow statement (appendix 5), the available hard currency of the group and company is decreasing. It is because of the cash is used for heavy financing activities.Group 2008RM000Group 2007RM000Company 2008RM000Company 2007RM000Net cash from operating activities555,972290,657401,005226,134Net cash from investing activities(185,696)(100,721)28,21921,667Net cash used in financing activities(376,256)(214,094)(445,550)(234,505)Cash and cash equivalents at 31 Dec25,69031,6701,04217,368Objectives1st years objective (short term)Hoping to double our share (to reach 70 per cent of the total market) of the speciality coffee market by next year with the launch of New Nescafe Menu (Don Howat,2009)Catering to Malaysian tastes by offering a mix of drinks across different ranges and the new products add to the companys product portfolio of these ranges. (Don Howat,2009)See an increase in coffee consumption in Malaysia. (Don Howat,2009)Hope to change the perception that coffee is bad for health and educate consumer on the goodness of antioxidants contained in coffee. (Don Howat,2009)2nd years objective (and long term objective)Improving current portfolio to ensure the products has more nutritious without affecting the taste (for example, less sugar, salt and fats). (Nestle, 2008)Maximise the use of good quality local raw materials. (Nestle, 2010)Creating and increasing consumers awareness on nutritional labelling, food safety and consumer rights to safe and quality food. (Nestle, 2008)Guarantee that all products manufactured, imported and distributed by Nestl Malaysia are certified HALAL by authorise Islamic certification bodies. (Nestle, 2010)Produce and sell world-class products of the highest consistent quality, reliability and convenience based on business excellence principles throughout our operations.(Nestle, 2010)Marketing StrategiesNescafe Menu utilizing the multiple segmentation bases which included of geographic, behaviour, and demographic segmentation.NESCAFMENUs Segmentation for Consumer MarketGeographicCountryMalaysiaCountry religionAsiaDemographicAge12 65+ sex activityMale and femaleFamily size15+Family life circleSingle/ married (with or without children)I ncomeUpper low and aboveOccupationStudents, works adult, housewives retiredReligionMuslim(mainly), Hindu BuddhistRaceMalay, Chinese, Indian othersNationalityMalaysianBehaviouralOccasionsRegularBenefitsQuality and convenienceUser statusPotential substance abuser and regular userUser ratesMedium useLoyalty StatusStrong and absoluteReadiness stageInterested, desirous and intention of buyingAttitude toward productPositiveTable 3 NESCAFMENUs Segmentation for Consumer MarketAdapt from Major Segmentation Variable for consumer markets by Philip Kotler, Gary Armstrong (2010). in stock(predicate) at Principles of Marketing (13th random variable) Chapter 7 Customer-Driven Marketing (Market Segmentation) page 217.Selective marketing (differentiated marketing) market-coverage strategy in which a firm decides to target several market segments with separated offers (Philip Kotler, Gary Armstrong 2010). Nestle as leader of global food market applied selective targeting by differentiated their products to numbers of categories that means to target different customer.Categories of productExample of productTargeted customer (in general) Coffee and Beverage Nescafe / Milo All range Culinary Aids/ Prepared Foods Maggi Household, mainly teenager and university students. Milks Nespray/ Nesvita Household Liquid Drinks Perrier Upper optic range Junior Foods Nestle Baby Cereals Parents with baby Breakfast Cereals Nestle Breakfast Cereals Parents with children Chilled Diary Nestle Bliss/ Nespray Yogurt Household Ice-cream Nestle ice cream / Drumstick Parents with children Chocolate and Confectionery Kit-Kat / Smarties / Milkybar All range Healthcare Nutrition Nutren Optimum / Fibre / Junior Household Performance Nutrition POWERBAR Performance / Gel Student working adult Nestle Professional Nestle Professional Medium/ large CompaniesTable 3 Nestls products, brand name and their targeted customer.Adapted From Nestle in your life, our brands (Nestle, 2010) From http//www.nestle.com. my/Nestle+In+Your+Life/Our+Brands.htmNescafe is a convenience product type of consumer product that consumers usually buy frequently, immediately, and with a minimum of par and buying effort. Normally low priced and marketers place them in many locations to act them readily available when customers need them (Philip Kotler and Gary Armstrong, 2010).(a) Pricing StrategiesMajor base pricing strategies Value-based pricing Everyday low pricing (EDLP) Set reasonably low price but still offer high quality products and adequate customer services. Prices are non the highest in the market nor are the lowest, consistent with the benefits and costs associated with acquiring the product.(O.C. Ferrell Michael D. Hartline, 2008) For instant, Nestle(M) re-launched the everyday low price Nestle branded range of Take-Home Tubs with Hi calcium, in line with the Nestle corporate wellness initiatives, to further strengthen the leadership position in the affordable segment. (Nestle, 2008) Competitiv e MatchingPricing strategy focuses on matching competitors prices and price changes. Although some firms may charge slightly more or slightly less, these firms set prices at what most consider to be the going away rate for the industry(O.C. Ferrell Michael D. Hartline, 2008).Nestle set the Nescafe Menu according to the going rate whereby market the 15-pack bags at the recommended retail prices of RM12.90 which is almost the same with the Old Towns white coffee (RM12.90)Strategies for adjusting Promotion discountingVirtually all firms, even those using value-based pricing, will occasionally run special promotions or sales to attract customers and create upthrow (O.C. Ferrell Michael D. Hartline, 2008).Nestle uses this strategy to attract new and old customer and increase their sales during promotion. Reference pricingFirms use reference pricing when they compare the actual merchandising price to an internal or external reference price. All customer use internal reference prices or the internal expectation for what a product should cost. As consumers, our experiences have given us a reasonable expectation of how much to pay for the product (O.C. Ferrell Michael D. Hartline, 2008).A pack of 15 pack-bags coffee cost above RM7.90 above and at the average price of RM11.50 to RM13.50 thus consumer expectation price also will be around that reference price.(b) Product StrategiesThe launched of New Nescafe Menu is using product line extensions strategy by adding new flavours of coffee to Nescafe brand. These products supplement an existing product line with new styles, models, features or flavour and it allow the firm to keep its product fresh and exciting with minimal development cost and risk of market failure (O.C. Ferrell Michael D. Hartline, 2008).Product StrategiesBranding strategy* Line extensions It occurs when a company extends existing brand names to new forms, colours, sizes, ingredients, or flavours of an existing product category. (Philip Kotler and G ary Armstrong, 2010) In this scenario, Nescafe introduce the new Nescafe menu by proving three new flavour of coffee to meet consumer variety.Packing and labelling* Nescafe Menu used a simple design by implements the photo of beverages in the wadding and picks the colour to suit the beverages.* A big and clear brand name is spot in the top of the packing.* 15-pack bags at the recommended retail prices of RM12.90* Nescafe also provide 3 flavour in a box of 6-pack bags for consumer who want to have a try for all the flavour.Customer Support Service* According to O.C. Ferrell Michael D. Hartline (2008), a firm may have difficulty differentiating its products when all products in a market have essentially the same quality, features, or benefits. In such cases, providing good customer support both before and after the sale helps in identifying and defining consumer needs.* Nestle provides the toll-free customer service line (1800 88 3433) in order to help them to know more about consu mers needs and strengthen the current position.Product Life Cycle NescafeIntroduction stagei. Attracting customer by breeding awareness of and interest in the product offering though advertising, public relation and publicity efforts that connect key product benefits to customers needs and wants (O.C. Ferrell Michael D. Hartline, 2008). First, Nestle make the official launch for new product included Press conference then advertising their product through newspaper, radio and television.ii. Inducing customer to try and buy the product through the use of various sale tools and pricing activities (O.C. Ferrell Michael D. Hartline, 2008). Nestle conducts free testing section, gives free samples to customer at hypermarket and offers their product in cheaper price during the promotion of new launched product.iii. Furthermore, Nestle ensure there is high availability and visibility of the product through trade promotion activities that encourage enchant (hypermarket, convenient store and etc) to stock and support the product (O.C. Ferrell Michael D. Hartline, 2008).Growth stagei. Nescafe has a strong branding, high quality with reasonable price to secure their market position.ii. Utilize advertising to stress the products benefits for target customer (O.C. Ferrell Michael D. Hartline, 2008).iii. Maintain and control over product quality to ensure customer satisfaction (O.C. Ferrell Michael D. Hartline, 2008). For example, Nestle demand the customers feedback through their customer service line and email.iv. Contact with key channel especially retailers to get a better shelf space that easily percolate customers eyes.Maturity stagei. Nescafe manage to hold the 70% market share of the Malaysian market share with its soluble coffee ranges (Don Howat, 2009)ii. Nestle able to create cash flow and invest it for new products or technology to improve their companys portfolio.iii. At this stage, Nescafe also develop a new product image and commit the new technology to their products.(c) Distribution strategyNestle uses the indirect marketing channel with intensive distribution that makes a product available in the utmost number of merchants or outlets in each area to gain as much exposure and as many sales opportunity as executable (O.C. Ferrell Michael D. Hartline, 2008).Multiple customer-marketing channel Adapted from Business (tenth edition)by William M. Pride, Robert J. Hughes, Jack R. Kapoor, 2009.Available athttp//books.google.com.my/books?id=zb0cItqvLJUCpg=PT427dq=customer+marketing+channelhl=enei=PNa4S6_3I4SyrAfPpfXDCgsa=Xoi=book_resultct=resultresnum=7ved=0CFMQ6AEwBgv=onepageq=customer%20marketing%20channelf=false Nestl as the producer keep the product in their national distribution centre which is used as the main logistic function warehouse. Next, wholesaler represent hypermarket that gets the products for the agent (sales office) and then sell it to retailer and customer.(d) Promotion strategyNestle applied the promotion mix a s the promotion strategies.Nescafe use product advertising to promote the image, features, uses, benefits, and distribution of products (O.C. Ferrell Michael D. Hartline, 2008). They present their advertising through television, radio, magazines, newspapers, outdoor display and the internet. Thus, consumers can have a look of the physical evidence of the product.Public relations can be referring to the process in the 7Ps of the marketing mix. It used to promote the firms, its people, its ideas, and its image and even to create an internal shared understanding among employees and can create specific images such as quality, innovativeness, value, or concern for social issues (O.C. Ferrell Michael D. Hartline, 2008). Nestle uses different methods such as press conferences, press releases and event sponsorship. For instant, Nescafe organizes press conferences and releases official press to announce the launch of the Nescafe Menu.Personal selling refers to personal presentation by the firms sales force for the purpose of making sales and building customer relationships. Sales people (as one of the 7Ps of marketing mix) will carry out the communication that attempts to inform customers about products and persuade them to purchase those products. Nestle uses the 6 sales offices and their employees to sell their products.Sales promotion direct towards consumers and trade is applied. Nestle gives sale promotion by giving out samples, point-of-purchase promotion and contests. For example, Nestle promotes different contests for their product seasonally to create excitement for consumers and increase the sales. Moreover, they offer trade allowance and selling incentives offered to an intermediarys sales force.Conclusion and recommendationsIn conclusion, Nestle group is a strong financial corporate and Nestle Malaysia is a Multinational company that have a bright future in exporting Halal product to more countries out of Asia. The born of the new Nescafe Menu means a rev olution of Nescafe beverages by offers local-styled coffee according to consumers needs.Furthermore, I discovered that Nestle do not have a brand that offers tea beverages as new line of product and attract non-coffee drinker to be Nestls consumer. Moreover, Nescafe ought to provide all their beverages in can so that it slow to carry to everywhere and enjoy it at anytime.As the awareness of health issues is rising rapidly in Malaysia, Nestle should provides their product with low sugar range or replace it with sugar cane which is more healthier compare to fine sugar.Lastly, Nestle should re-design their logo, label and packing as it rated as less dinky compare to its competitor. As the fast-development of multimedia, Nestle should fully utilize it in their packing and advertisement to suit the new generation.ReferenceBooks and e-booksPrinciple of Marketing 13th edition by Philips Kotler Gary Armstrong, 2010. United State of America, Pearson Prentice Hall.Marketing Strategy (globa l edition) 4th edition by O.C Farrell Michael D. Hartline ,2008. United State of America, Thomas South-Western. Business (tenth edition)by William M. Pride, Robert J. Hughes, Jack R. Kapoor, 2009. (Online) Available at http//books.google.com.my/books?id=zb0cItqvLJUCpg=PT427dq=customer+marketing+channelhl=enei=PNa4S6_3I4SyrAfPpfXDCgsa=Xoi=book_resultct=resultresnum=7ved=0CFMQ6AEwBgv=onepageq=customer%20marketing%20channelf=false accessed at 20th March 2010Introduction to marketing conceptsBy Graeme Drummond, John Ensor, fifth edition