The 4Ps Marketing Mix: A Report on Cadbury Dairy Milk Bar and Lindt Excellence Milk Chocolate Bar
Verified
Added on 2023/06/18
|12
|2138
|377
AI Summary
This report discusses the 4Ps of marketing and a comparison of target markets between Cadbury Dairy Milk Bar and Lindt Excellence Milk Chocolate Bar. It covers topics such as target marketing, Levitt's model, Akaers personality brand framework, pricing, promotion, and place.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
The 4Ps marketing mix
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION......................................................................................................................................2 MAIN BODY.............................................................................................................................................2 CONCLUSION..........................................................................................................................................5 REFERENCES...........................................................................................................................................7 2
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
INTRODUCTION Marketing mix is a model of business which set the objectives in the target market. It gives a wide range of areas with onetag line or message. it helps in reaching to broad range of customer by considering major 4 p's of marketing in mind. Focusing on this tool assist firm to make strategies decisions while introducing new product or revising existing offer(Abdelhady,2018).This report is based on cadbury dairy milk bar which is UK based company founded in 1905. it provide service worldwide it is well recognised brand deals in confectionery. Other company is Lindt excellence milk chocolate bar, it deals in chocolates and ice cream it was founded in 1845 in Switzerland. This report will cover 4 P's of marketing and comparison of target markets . MAIN BODY Task 1 Target marketing - It is broadly classified by age, location, income and lifestyle. This will cover STP marketing. STP Marketing- It examine a particular strategy marketing. The basic motive of this method is to abstracted the target audience accordance of their needs and wants(Acar, Avcılar and Bostancı 2020). These strategies are describe below. Segmentation- it divides the user into groups by using these tactics. It consist four parts which are listed below. Demographic segmentation- it describe market by components like gender, age, size, race, income etc. Psychographics segmentation-it mention thepersonality and growth. It include attitudes, lifestyle, hobbies, risk aversion etc. Geographical segmentation- it marks the customer on the basis of country, region, and state etc. Behavioural segmentation– it separates market by considering the choice and needs of customers (Lim, Jee and De Run, E.C., 2020). Thus, the Cadbury follows a psychographic segmentation in order to make image in mind of customers. Whereasthelindtchocolatefollowsdemographicsegmentation.Thesegmentationof boththe companies are different from each other as the former segments the customer on the basis of psychographic while other segment on the basis of demographic. 3
Targeting-this factor separates pointed market into small segments to center a specific group of users. In extent of brand A and B, cadbury targets all age group people and they have some specific product for rich and upper class whereas, lindt targets rich and elite people. Both of their target market are distinct as Cadbury targets the people of each of the income class while Lindt targets only rich people. Positioning- it determine the organisation where they stand in comparison to its competitorgoods in market or in the eyes of individuals. In term of cadbury they positioned themselves as sign of good times or a spontaneous brand. Rather than lindt milky bar see their brand as luxury product. Product- it is services or offers provide by company to the consumer as per their needs and wants (Issock, Mpinganjira and Roberts-Lombard, 2021). Levitt's model- In 1960 the model was explained for organisational changes. It consist four points that classifies the changes of business. These points are interconnected with each other it is placed in square shape like diamond which elaborate the terms. The four components are listed below. Structure– it is body of company. It include many things like staff, areas, and communication etc. the way of communicate with level of hierarchy and departments. It states that if there is change in constitution there is change in other section. Task-it refers to the activity which are performed by workers. It implies the actions as organisational objectives. Its all about that what is to be done and by whom is to done. People-this states the employees of industry(Stoyanov, 2021). The workers are backbone of business and its activity. The work is totallydepends on the employees the skills and techniques are well known to them. If there is any change in labours affects all other factors will be change in these. Technology-it helps organisation bodies to perform better tasks. It ranges from information technology, software, and latest automations. Ifchanges in technology of organisation will effect in whole business in order to upgrade whole system. However, the cadbury comes in basic product as it has mass market it is used by common customers to use and like by every class of people. Whereas the lidnt chocolate comes in expected product it is high in cost as rich and premium people can buy it to eat. The taste of the chocolate is little sweet but the smoothness of the product is perfect and good in taste. 4
Akaers personality brand framework - it is a brand blueprint that is design by marketing departments. It identifies the offer unique solutions to build a strong identity of brand. It consist four basic characteristics that indicates different brand models such as awareness, loyalty, perceived quality and brand associating. In case of brands the cadbury comes in sincerity it states that brand has well known image in worldwide it provide services across country and lindt, comes in sophisticated products as it has a high cost and not possible to buy from every class of people (Fraser-Arnott, 2020). Price- pricing is the technique of examining the valuea product that is paid by consumer in the return of goods and services. This is used to set a relevant cost for both user and seller. Every firm works for objective of earning revenue and to grow their structure. While setting the price of product the producer should consider some points which are nature of the product, the cost of similar commodity, the users which is going to use the good, the total cost including operational expenditure and major factors like government polices etc. (Yuwei, 2021). thus, the producer should set price as per both party seller and buyer both can afford the value. In case of the brand A&B, cadbury pricing method isskimming pricing, this type of costing method states that owner sets a high announcing cost to attract buyers with interest to buy the goods and give a good image with quality and monetary value. the cost are set at high to take benefit of some individuals wants for a new offer or design at any cost. Whereas the lindt milky bar, they offer premium quality product, so they adoptedpremiumpricing strategy. This techniques explains that the company sets price of their offers at high cost than the competitors to prove them as brand. They doesn't care about the competitors as they believe that they have their own loyal customer base. Promotion- It refers to activity that plays a important role in creating customers and promoting a business in public by varied methods such as promoting through digital platform and setting campaign.The basic objectives of adapting this tactics are developing the brand image, updating customer,showing favourable position over rivals and converting expected customer into real customer. It consist a major techniques which are listed below. Social media marketing-now days amount of population are addicted to social media as Facebook, Instagram etc. before using anything individual go for reviews which was given by 5
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
the consumers or ratings too(Shohet, Luzi and Tarshish, 2018). Uses mail method to announces a new offers of branded or local markets. It includes content marketing etc. Traditional marketing – it include the influencer marketing and referral marketing it means that sometimes people don't go for brand or cost they go for emotional sentiments like references through friends and advertising campaigns. The promotional activity adopted by the brand cadbury and lindt chocolate the brand A uses the wide range of promoting their brand. The company made various tactics to be in market through various forms like Tv, radio, digital media, coupons, and posters. The company update their tag line time to time by giving more innovative slogans to attract customers more. this shows that use the products in every occasions treat good as sweet.it gives a sweet and memorable impact at every age group whereas lindt follows both digital and printing method both technique to promote their products. They have displays, posters on public places (Al-Samirae, Alshibly and Alghizzawi, 2020). Place- This refers to the location and geographical presentation of the structure where the company sells their commodity. The basic motive of place is to make product available for the customer easily they don't need to go far to buy such commodity(Cifci, Cetin and Dincer, 2018). This include supply network etc. the business provides their offers in local outlets too so that they can sell them or it can be in reach of localites or small markets. In case of brand A&B, the brandcadburyhas the mars market it can be availble in small stores and big malls with variety of commodity and for every class people people mostly prefer itas priority whereas, the ,lindtchocolate it has luxury brand it is available at limited stores or big malls as it contains a high cost so only its premium customer go for it to buy. 6
7
8
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
CONCLUSION From the above report it is concluded that both the industry target market is different but gives benefits in growth of company and cadburyuses their brand image and popularity or lindt choclate uses its USP of goods to orientation themselves. Both firm are well aware of social values and ethics of running business. they know how to promote their company in effective way however, cadbuy and lindt chocolates use competing strategy in order to increase more sales and revenue for business. Cadbury has mass market it provide services in worldwide, so they conduct their activities accordingly. 9
REFERENCES Abdelhady, M.R.R., 2018.The Influence of Marketing Mix Elements for Airlines on Passengers' Purchasing Decision-Making(Doctoral dissertation, Fayoum University). Acar, İ.H., Avcılar, G. and Bostancı, S., 2020. The roles of adolescents’ emotional problems and social media addiction on their self-esteem.Current Psychology, pp.1-10. Cifci, M.A., Cetin, G. and Dincer, F.I., 2018. Marketing tourism experiences. InThe Routledge Handbook of Destination Marketing(pp. 49-59). Routledge. Shohet, I.M., Luzi, M. and Tarshish, M., 2018. Optimal allocation of resources in construction safety: Analytical-empirical model.Safety science, 104, pp.231-238. Stoyanov,D.,2021.Marketingofvendingchannels:acaseofFrenchuniversitycampuses. International Journal of Retail & Distribution Management. Yuwei, Y., 2021. Development of the marketing strategy of the commercial company. Lim, W.M., Jee, T.W. and De Run, E.C., 2020. Strategic brand management for higher education institutions with graduate degree programs: empirical insights from the higher education marketing mix.Journal of Strategic Marketing,28(3), pp.225-245. Issock, P.B.I., Mpinganjira, M. and Roberts-Lombard, M., 2021. Investigating the relevance of the traditional marketing mix across different stages of change: Empirical evidence from household recycling.Journal of Social Marketing. Fraser-Arnott, M., 2020. The Marketing Mix in Parliamentary Library Websites.Journal of Library Administration,60(8), pp.875-888. Al-Samirae, Z., Alshibly, M.S. and Alghizzawi, M., 2020. Excellence in Drawing up Marketing Mix Strategies for Small and Medium Enterprises (SMEs) and Their Impact on the Marketing Performance.Business, Management and Economics Research,6(3), pp.30-36. 10