Revamping of Cadbury Dairy Milk Celebration Pack: A Marketing Management Analysis
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This report analyses the revamping of Cadbury Dairy Milk Celebration Pack and its impact on marketing management. It includes SWOT analysis, marketing mix, and recommendations for improving branding and reputation.
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MARKETING MANAGEMENT
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Executive summary This analyse define the marketing management in which the organisation revamp their product in order to increase their customer base and enhance sales. The main aim of this report is to understand the concept of product revamping. This study analysis those factor which can impact the process of product revamping. This report will make enable to get knowledge about the marketing mix and SWOT analysis of a companythat will help them to determine those component which can direct impact company's product and their promotional activity. This report will be based on different approach of marketing management.
Table of Contents Executive summary..........................................................................................................................2 INTRODUCTION..........................................................................................................................4 MAIN BODY...................................................................................................................................4 Brief description about organisation and the chosen product................................................4 Explore environment factors that helps to identify opportunity and threat that create an impact on chosen firm........................................................................................................................4 Marketing mix of the product and recommendations.............................................................7 Examine that how firm can improve branding and enhance the reputation of product and analyse this impact on brand positioning...............................................................................9 CONCLUSION.............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing refers to a procedure that undertake to advertise specific products and services from producer to its consumer. This is highly essential for any business in order to increasing purchase that can bring positive growth(Gama, 2017).This report is based on Cad bury, its headquarters is in UK.It can deals in chocolates that generally made for happy moments. This can increase customer ease as well as brand loyalty. This helps to motivate females for make hair always ready. This report considers to discuss about company as well as product that should be revamp,identifyopportunitiesandthreatthatcreateanimpactonorganisation,discuss marketing mix, examine that how organisation can improve branding and identify impact on brand positioning that can influence business growth. MAIN BODY Brief description about organisation and the chosen product. About Firm A brand that specifically chose is Cad bury, it is a British multinational brand that can deal with chocolates. It was established in Birmingham, England in year 1994. It focus on attracting customer through providing wide variety of products such as cad bury celebration, born-vile, coco bakes, cocoa and so on. This can easily increase clients traffic just because its outer appearance as well as packaging. Company gives high quality milk products to its customer that can be examine in a heavy liquid form. About Product The particular product that is chosen for revamping is celebration pack of dairy milk. Company can change the packaging style of this product from rectangular to circular. This can attract lots of customer just because of this new innovative design. More people want to try this who are focus on technologies. Explore environment factors that helps to identify opportunity and threat that create an impact on chosen firm. In case for analysis the whole business there are various tools and techniques that easily knows to understand environment of organisation(Hou, Wangand Luo,2020).So in case of dairy milk porters five forces analysis require that helps to know about competition level of
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business in market place. Basically this define a attractiveness of company structure for making a high competition benefits. Entry of Competitors:It refers to threat of new entrants that reflect barriers in entry and exit in marketplace(Hunt and Madhavaram, 2020).The new entrants will come as they try to exploit new part of market. The entry of competitors is very high just because there are several rivals of cadbury such as Nestle, Hershey's etc., inside this market. These organizationsoverwhelmtheconfectioneryareawiththeirownspecificsortsof chocolates. This makes the obstruction for section extremely difficult for one more new organization to begin Cadbury's rivals have the ability to attract and this can create an impact on clients through techniques, price and new design of the item. Threat of Substitutes:It is another main hurdles that can affect company position. AS most of supermarkets can copy the actual brand. They deliver their own brand at a cheaper price. So the threat of substitutes are moderate because this new design increase the competition level and other rivals also try to focus on introducing new changes in their item. The main hindrance that affect cad bury business production due to this revamping is to identify a perfect segment that can highly gather with a requirement of entry and foreign policies that influence company operation. Bargaining power of buyers:It is also most important part as without theses no market can run and succeed with growth(Kotler and et.al., 2021).So in case of this innovation in cad bury( dairy milk) a bargaining power is considered moderate to high because when this design is introduce competitors also try to establish something different that can engage customer attraction. This can affect a alteration in consumer loyalty. Hence, dairy milk has to take precautions on making something new and decide an affordable price as it helps to satisfied potential clients. Bargaining power of suppliers:In this factor business totally depend on makea difference between product cost and sale price of item. This can affect profitability of business. In case of cad bury bargaining power of supplier is low, the reason behind that is there are large number who can sale similar items in marketplace. This company are focuses on maintaining an effective relationship with suppliers across the world. So that this firm can use scale of economy for purchase raw material as a very cheap rate and sale it is in bulk that can enhance company success.
Rivalry among existing player:This is the big threat for any kind of company as this can generate danger potential in business through delivering similar items at a very less price(Krasyuk And et.al., 2017).In case of Cad bury competition of existing player is extremely high as many of companies in market are producing chocolates such Nestle, Ferrero etc. So most of the competitive are provoked while seeing this new design in market place and then try to improve their ideas to make their competitiveness strong. In short, the competition level are always strong it is just because many of the organisation provide similar kind of products and customers can chose according to their satisfaction and loyalty. For measuring the firm competitiveness after introducing existing products with new innovation. Following analysis must be considers. Opportunities Corporate involvement:Cad bury celebration pack can make their item portfolio more solid with restrict with participates and including understudies as it give them novel thoughts which assists organization with getting upper hand in market. Increase geographic reach:Cad buryis a multinational brand and has large product line that gives opportunity to them to generate revenue. This association can expand more benefit with offering more geographic extension as organization can offer their new items to number of nations. It likewise give them freedom to build their market share. Targeted every generation:Cad bury is producing innovative products in market for earning profit. This organisation has opportunity to produce customer baseitemthose who are highly love to eat chocolates and celebrate their happiness. So, this design will open a opportunity for firm to attract more traffic who are highly recommend dairy milk. Threats Government policies:This refers toan another obstacle which make sway on business of cadbury(Stoychev, Dimitrova and Desev, 2019).This is an British global brand which is giving their items and administration in various nations for reason for acquiring benefit for association. To sell items in several countries administrators of organization needs to follow various strategies of government. These strategies make issues for organization as government put
weight of duty and obligations on business. These approaches some of the time make sway on endurance of firm. Raisingcompetition:Thereisexpandingcompetitioninmarketwhichmakedangerfor organization. There are different contenders which are giving same items and administration in market. These rivalries are building compelling methodologies to draw in clients of cadbury in market. Contenders make sway on showcasing offer and benefit of organization as in for defeat ofpresentcircumstance,organizationneedstodiminishtheircostswhichdeclinetheir productivity level. Marketing mix of the product and recommendations. The marketing mix refer to the set of action that business undertake in order to build and promote its service or product to its customers. It help the organisation to ensure that they are able to offer their customers an appropriate product and right time and right place with accurate price. In context of Cadbury Diary Milk, there are four Ps of marketing mix which are given below: Product-Itrefers to the goods that is offer by a company to its target customers. The company's product significantly depend on the type of relative company and what it do. The product can be virtual or physical. It is classified on the basis of durable and non durable goods. These are the ultimate customer purchase for himself to use it. In context of the Dairy milk, it is biggest chocolate brand and expected by everyone in the world. This product is positioned as something sweet which is essential for everyone due to its exquisite taste. This product line is started with higher consistency of the milk chocolate (Pradini, Haryono and Indriani, 2021). Price-It refers to that amount which is paid by the customer for the product. It depend on the company'scompetitors, cost of production, demand and willingness of customer's spend. A marketer should link its price to given products by considering, seasonal discount, competitor price and supply cost. In context ofDairy milk, the company believe to provide best possible chocolate at the moderate cost in order to seem very affordable for every customers. For this, the company following competitive pricing policy and kept price of this product at par with competitive companies(Cuellar Quiñones,, 2021).
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Place-In this, the company decide where its product should be sold and how to deliver their products in the market. Objective of a business executive is to get the company's product in front of its customers that are most likely to purchase them.In relation to Dairy Milk, Cadbury Dairy milk is considered as a world wide brands, it is solve in many countries such as Russia, Canada, India, China and many more. Manufacturing of this dairy milk take place in France, Poland and Ireland.For its distribution, the company undertake an efficient and capable transportation chain. It easily available at any grocery store, convenience store, corners store and supermarket( Siles Quiroga, 2021) Promotion-It include thethoughtful and specific advertising that help the company to reach its target market. It include the public relation, advertising and several promotional strategy in order to reveal to the consumer that why they should buy the specific product and pay certain price for this. The Dairy Milk contain a global presence by maintaining its position at number one in the consumer market. It launched several promotional activities which are helpful for them to create a further brand awareness. This product is very iconic an distinguishable easily with its purple packing. Recommendations The recommendation is a proposal or suggestion as the best course of action implemented by the company(Springer Fachmedien Wiesbaden, 2018).It is recommend to the company that they should bring the product with a new packaging style. They should determine that what type of change the customer wants and understand the motivation behind their products revamp. Their revamping strategy should be aligned with their goals. In context of Cadbury Dairy Milk, they want to revamp their product that is chocolate from square to circle design. For this the Cadbury should manufacture their Dairy Milk chocolate in new structure so that it can attract more customers and contain some difference by their competitors.For this they have to define their product in detail to its customer by inform them about the quality and uniqueness of the revamped products. To make their product more effective it is require that they follow that type of pricing policy which is affordable for the customers as well as maintain the organisational profitability. The respective company can add some extra features in their product to make it more attractive. It is suggested to the company that they make the distribution of products at convenient place so that the customer can get their product easily.
Examine that how firm can improve branding and enhance the reputation of product and analyse this impact on brand positioning. Branding is very important process that make the company product position in market. Effective brand image can makea value and creditability for customers. This new design can make a better brand image in the market. The main aim of this attractive packaging is to develop their chocolates. Organisation can promote their revamping on several platforms such as newspaper, online media like you tube , Instagram, twitter etc. This is really helpful for making a effective identity of such item. They can build a solid presence of this specific product. Impacts: Bring competitive advantage:A brand revamp is very important for business as most of the customer are focus on try something new that gives them a better satisfaction. So, this can affect the image of brand and this ability defines a key to enhance competitiveness through establish new design in outer appearance of item. This may always come up with taking something new that affects rivalries in order to generate also something new just sake on increases competition level. Effect brand equity:A cadbury can make a change in their existing product that is celebration pack(Teoli, Sanvictores and An,2019).They can come up with new appearance that can convert from rectangular to circular form. This can positively affect the equity of brand in terms of their leadership, image, loyalty and awareness. This is also increases sales repetition that makes a long lasting image in mind set of customers. Thus, this positive influence increases market share and develop brand equity. Build a uniqueness:The innovation of product take as a challenge by the industry because this can derives various benefits in terms of developing items. This development make a item unique. In case of cad bury this modified design generate a uniqueness as this can positively affect desirability of such item to consumer.
CONCLUSION From this report it is find out that, the product revamping is a marketing plan which is very essential for an organisation in order to increase its sale by manufacturing a product in a new way. For revamping of a product, it s very important to analyse it macro or micro environmental factor to identify those elements which can impact the particular product in a negative or positive way. The porter's five forces also help the company to determine that factor which can become threat for them and how they can enter a new market by analysing the customer's or supplier's bargaining power. While a company revamp its product then it should carefully examine the marketing mix by focusing on its 4Ps. The company should try to improve their product and marketing mix strategy in order to launch their revamping product effectively. They should improve their brand and also increase market image of the product to revamp their product efficiently.
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