The 4Ps Marketing Mix: Principles of Marketing Coursework Individual Report

PRINCIPLES
OF
MARKETING

Table of Content
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
2.1 Market Targeting..............................................................................................................3
2.2. Product.............................................................................................................................4
2.3 Price..................................................................................................................................4
2.4 Place.................................................................................................................................5
2.5 Promoting.........................................................................................................................5
CONCLUSION..........................................................................................................................6
REFERENCES...........................................................................................................................7

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.
2.1 Market 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 is dependent 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.