The 4Ps Marketing Mix: Principles of Marketing Coursework Individual Report
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This report discusses the marketing mix of Cadbury Dairy Milk Bar and Lindt ‘Excellence’ Milk Chocolate Bar, comparing their target market, product, price, place, and promotion. It also explains the principles of marketing and how the 4Ps help in developing an effective marketing strategy.
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PRINCIPLES OF MARKETING
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INTRODUCTION The 4Ps are the four essentials factors of the market which involves in marketing of goods and services to the public. The four Ps are as follows- the product, the price, the place, and the promotion. Marketing mix is a strategy which focuses on multiple areas of business. Taking an example if two brands, Cadbury Dairy Milk Bar and Lindt ‘Excellence’ Milk Chocolate Bar. Cadbury is a multinational confectionary brand which was founded in 1824, 197 years ago by John Cadbury. The headquarters is located in Uxbridge, London. Lindt it is Swiss chocolatier and a confectionary company founded in 1845, and basically is famous for their chocolate truffles and chocolate bars. The headquarters are located in Kilchberg, Switzerland. Further the report will discuss the marketing mix between the two brands and it will compare their target market, brand or product, price, place and promotion. MAIN BODY The marketing mix which is also known as four P’s of marketing are considered as principles of developing an effective and effectual marketing strategy. The marketing mix was founded in the year 1960 by famous marketers. There are several factors on which it is dependent which includes marketing plan of the entity, the managers working in the marketing department and many other. The marketing mix of both the organisations that is Cadbury and Lindt are elaborated underneath. 2.1Market Targeting Market targeting means the product which the particular company is producing will satisfy the customers needs and demands. It can be defined as age, sexual, orientation, gender, economic class, religion, ethnicity, or location. Talking about target market of Cadbury dairy milk bar, it generally involves segmentation process which makes it easier to target the audience. The segmentation of Cadbury is mixture of demographics, behavioural, and psychographic factors, like on the basis of income and occasions. In demographic factor, it includes age groups of the people who enjoying Cadbury products. The offering of the brand isdependent upon number of factors which includes the production capabilities of the brand, determined prices of different products, the designing and packaging of products along with different facilities that are available on different stores, celebrity endorsement and various others.For example, Cadbury temptation and Bournville are for higher end customer group who are willing to play more and silk is for those who can’t resist chocolates. The audience which Cadbury has is all age type and all class of people can purchase their product.
On the other hand, the very famous brand of chocolate isLindt is a brand which position itself as a luxury Swiss milk chocolate organisation and target group on which the company generally is focused about are elite society and rich families. The company target according to their production of the brand. The quality of the product attracts the most which results in increasing of profit of the firm. They are targeting the adults who are stable and easy for them to buy the product. 2.2. Product The items or services which is designed to satisfy the needs and wants of the customers is known as product. In this current scenario it is important to identify what differentiates it from competing products or services. In context of product of Cadbury dairy milk bar, this is the biggest and most accepted chocolate brand in the world. It generally includes every age and class of people. Dairy milk is the star product of Cadbury which has highest consistency of milk chocolate. The products are based onseasons and the variations in the product portfolio is dependent upon the sales units or the revenue being generated in each country where The entity has its operations and brand awareness. There are several standard products which are distributed by Cadbury to customers along with it other offerings of the company are based upon festival season and different festivities like Halloween, Thanksgiving, Christmas and others. Cadbury also make sure to stand outside the box and for which it focuses our the packaging of its products. Cadbury make sure tu you always keep the packaging of its product unique and innovative as well as attractive. The Cadbury also prefers to segregate the products according to the demographic areas.The product lists of Cadbury is as follows, Cadbury dairy milk, Cadbury five star, Perk, Bytes, caramel cake bars, etc. on the other side, discussing about product of Lindt chocolate, the packaging of the product is according to the product they provide to the customers. Talking about its colour it is luxury gold which reflects that the product belongs to the affluent people, the shape of chocolate is very different which is circle, and it includes the picture of chocolate on the top of the packaging. It is a famous brand which deals in manufacturing and selling quality chocolate products, typical sweets, and seasonal confectioneries. The brand has different of the names their product as Excellence, Lindor, Dessert, Creation, etc. 2.3 Price The sales of the product reflect what consumers are willing to pay for it. The price should be according to the product they are production which will satisfy their demands. Taking in context of Cadbury, they majorly include 7 different type of pricing strategy which
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help the company to gain more profit. The name of strategiesare price skimming pricing, cost plus pricing, positioning pricing, demand-based pricing, competitive pricing, discount pricing, bundle pricing. In the context of Lindt, the brand packs some of its products in simple packaging on the other hand few of its prestigious products are packed with attractive, innovative and stunning packaging which are designed by experts. In concern with pricing strategy of Lindt the company keep the prices of its product similar to its competitors and do not differ much. This is the reason why, competitiveness of the brand does not depend upon its pricing strategy but on the quality of the products it is offering to the customers, creative packaging and its brand value in the competitive environment. Below there is a comparison between their price of the product. CadburyPriceLindtPrice CadburyMilk Chocolate Finger £ 1.66Lindt Lindor Milk Choc Box $9.96 Dairy mill caramel bar £ 1.50Lindt Deluxe$18.99 Dairymilkfruit and nut £ 0.98Chocolate Delights$79.95 2.4 Place The type of products and their suitability is the key factor which is considered and always will be considered by organisations while establishing their distribution or placing strategies. There are several different types of goods that are needed by customers, consumable goods most commonly available in enough quantity in several different stores and supermarkets. But when it comes to products like chocolates of brands like Cadbury which is a large Global organisation having its presence in several locations around the globe such France, China, Brazil, Russia, Canada, Italy, India, United Kingdom and Pakistan. The manufacturing houses of Cadbury are established in Poland, France and Ireland. The company received a huge opportunity with the increasing and growing E-Commerce channels. Cadbury received a chance to expand its business through several online platforms and following e-commerce processes. Cadbury is a worldwide name and has made its name in almost more than 200 countries. This shows the distribution channel and the places where it has made its product reach.On the other hand,Lindt, it is a recognized brand and operates via four hundred and ten chocolate shops, business and café spread all over the world including places like United
States, France, Germany, Brazil, South Africa, Japan, China, Russia, India, Canada, Mexico, and United Kingdom. Currently the reach of Lindt products is more than over 100 countries worldwide. With distribution and sales companies in 4 continents, 6 production sites in Europe and 2 in the US, it has a strong supply chain management system. They place themselves as the ‘Luxury Swiss Chocolate Maker’ and their target audience is therefore high class, affluent people. 2.5 Promoting The activities like advertising; sales promotion, personal selling, and public relations are known as promotional mix. Dairy milk has a worldwide presence and to maintain its position as number one in customer market the brand has taken several steps. They have a very unique strategy to promote their products. Their purple packaging is iconic.To promote the offerings Cadbury make sure that their commercials are eye catchy and are casted over all the digital as well as audio advertisement channels. To make sure that the company is reaching to all its customers and potential buyers the brand make use of print media as well bye by providing ads in magazines and newspapers. The company also has various brand ambassadors for various types of products so that each of them is used to make an impression in the mind of the people. Cadbury has not left any stones unturned to promote itself.On the other hand, Lindt, they generally advertise their company by campaigns,electronic and visual medium in magazine and hoardings.Lindt engages both in print advertising as well as digital advertising.They have displays, posters on airports, trains, and big shopping centres in the world. They display their poster over train, at airports and at big malls. They are mostly active on their website, and over social media.The brand identified that the impact of celebrityendorsementhas roped in tennisplayers. Therefore, Lindtmade use of the opportunity and casted sports players in their marketing campaigns and use them to promote their brand as well as spread awareness among the customers. CONCLUSION In the above report, it is explained that how marketing mix helps the company to work properly. The marketing strategies makes it easier for them to promote, produces, etc. To have proper clarity about the strategy, in the above report they have taken to different the name of the brands are Cadbury and Lindt chocolate. They both are very famous brands in confectionary market. Cadbury generally provides chocolates for all kind of age groups and class of people. On the other hand, Lindt is a luxury which produces their products for high
class people who do not think before buying these products. The marketing mix includes 4Ps, Product, price, place and promotion.
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REFERENCES Books and Journals Wulandari, L., 2020. The Effect or Marketing Mix on Student Decision to Choose a Private College. Management and Entrepreneurship Research Review, 1(4), pp.131-135. Choong, K. and et. al., 2021. Reaching subculture markets: The cryptic marketing approach. Journal of Marketing Communications, 27(2), pp.160-175. Ing, P., Osman, Z. and Tze-Yin, L., 2020. Marketing Mix and STP Strategies: An Exploratory Study into Grocery Retailers in Malaysia. Asian Journal of Entrepreneurship, 1(4), pp.129-143. Lonardi, F. and et. al., 2018, December. Agent based simulation marketing mix model for budgetmanagementincosmeticindustry.InProceedingsofthe2018Winter Simulation Conference (pp. 4099-4100). Lonardi, F. and et. al., 2018, December. Agent based simulation marketing mix model for budgetmanagementincosmeticindustry.InProceedingsofthe2018Winter Simulation Conference (pp. 4099-4100). Pribadi, J. K. and Sunjaya, M. C., 2021. The Impact of Green Marketing Mix towards Purchase Intention with Consumer Attitude as the Mediator in the Case of The Body Shop. iBuss Management, 9(2). Raji, I. O., Rossi, T. and Strozzi, F., 2021. A dynamic literature review on'lean and agile'supply chain integrationusing bibliometrictools. InternationalJournal of Servicesand Operations Management, 40(2), pp.253-285. Sintani, L. and et. al., 2019, August. Analysis of the Influence of Marketing Mix and Service Quality towards Customer Satisfaction and Savings Loyalty at the Main Branch of PT. Bank Kalteng Palangka Raya. In First International Conference on Administration Science (ICAS 2019) (pp. 506-510). Atlantis Press.