Developing Marketing Mix for Competitiveness

This project aims to investigate the role of developing marketing mix in achieving competitive advantage at marketplace. It focuses on Cadbury and explores the importance of marketing mix for the organization. The project covers the background, research methodology, secondary research, primary research, findings/results, and conclusion.

Executive Business
Administration Project
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CONTENTS
Contents...........................................................................................................................................2
TITLE: - Developing marketing mix for competitiveness..............................................................3
EXPLANATION.............................................................................................................................3
AIM AND OBJECTIVES...............................................................................................................3
Aim: -...........................................................................................................................................3
Objective: -..................................................................................................................................3
INTRODUCTION...........................................................................................................................3
Overview/ context of project.......................................................................................................3
Background of study....................................................................................................................4
RESEARCH METHODOLOGY....................................................................................................4
MAIN BODY..................................................................................................................................5
Secondary research......................................................................................................................5
Primary research..........................................................................................................................7
FINDINGS/RESULTS..................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
Appendix........................................................................................................................................14
Pre-Submission Guidance Form....................................................................................................14
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PROGRAMME TITLE: - Developing marketing mix for competitiveness
EXPLANATION
The main aim behind selecting this topic is to develop an understanding regarding the
importance of devising marketing mix strategy for a business and manner in which it supports in
achieving competitiveness at marketplace (Davari and Strutton, 2014) . This hold relevance in
program as it enhances knowledge regarding the core concept of marketing along with
uncovering the facts to be consider while formulating strategies. Other than that, this
understanding will support in performing well in future employment by practically implementing
this concept in working by using theoretical understanding.
AIM AND OBJECTIVES
Aim: -
To investigate about the role of developing marketing mix in achieving competitive
advantage at marketplace. A study on Cadbury
Objective: -
 To identify the importance of exploring about the concept of marketing mix for an
organisation
 To determine several advantages that Cadbury get with adoption of marketing mix in
operations
 To ascertain the relationship between implementation of marketing mix by Cadbury and
accomplishment of competitive edge.
INTRODUCTION
Marketing plays a significant role in growth of a business by ensuring that right product get
delivered to right customer with maximum satisfaction (Kim and et. al., 2014). In order to ensure
this marketing mix is mainly used which support an organisation to formulate their marketing
strategies by put their concentration over product using several different factors.
Overview/ context of project
The marketing mix is defined as the set of tools and techniques which are used by an
organisation within its target market for pursuing their marketing objectives. It mainly provide
marketer a direction in which they must promote their product or brand as well as actions must
be taken to approach customers for achieving their targets. This in further help an organisation to
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perform well within marketplace and at the same time provide with sustainable advantage. The
main focus of this project is to determine the importance of marketing mix for an organisation in
term of developing competitiveness (Muchohi, 2015) . For studying it effectively Cadbury is
taken into consideration which best known for its marketing excellence that make it capable of
ranked over second position within confectionery industry. The main reason behind choosing
this company study, as Cadbury stands second in confectionery industry and this is adopted by
company through its excellence at marketing strategies. Therefore, the study will support in
getting more understanding regarding how the adopting of a right mix help an organisation to
achieve competitive edge at marketplace.
Background of study
Marketing mix constitute a major part in growth of product by devising several strategies
that supporting in fixing the product within the box of consumer’s need and expectation for
achieving competitive advantage among available competitors. For studying it effectively from
company’s point of view, Cadbury is taken into consideration which is a large multinational
company that offer confectionery related products throughout world. Cadbury maintain stronger
marketing mix in order to ensure that its product get higher amount of awareness in market,
easily available to consumer and must create value among them, so that it can stand out of the
competition. The adoption of marketing mix support it a lot in differentiating its product among
others available in marketplace so that it become easier to approach maximum customer
attention and achieve competitive edge (Pomering, 2017).
RESEARCH METHODOLOGY
The number of methods used for performing this project are mentioned below that supported
in conducting this study in efficient manner,
Types of investigation- In order to attain success for the study it was very crucial for the
researcher adopt right method of research. There are two different methods available for the
investigator qualitative and quantitative which enables the researchers to collect all the relevant
information. For this research investigator has used quantitative method of Data collection which
which is time saving and support the researcher in gathering valid outcomes in a systematic
form. The quantitative method of study will support in extracting out the outcomes more
accurately by using mathematical approaches and graphs to represent the findings effectively.
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The primary data will be collected with the help of quantitative investigation which make it
easier to extract the outcome.
Research approach- The evaluation and analysis of data is a very e important factor and
plays a very important role in bringing the most positive and influential outcome for the study
(Wiek and Lang, 2016). Type of research approaches are deductive and inductive out of which
deductive approach is more suitable as it is a quatitative method of research helping the
researcher in analysing the quantified information in appropriate manner from which appropriate
outcomes can be presented.
Research philosophy- The set of beliefs observations which are developed by investigator
while performing the investigation for more systematic approach. Research philosophy are of
two types interpretivism and positivism, this research positivism research philosophy is used as
it will be really supportive for the researcher why extracting the final of come from the
collected data.
Research design: - It is a method which support in determining the main structure to be
followed for performing whole investigation. The research designs are of three type such as
descriptive, exploratory as well as explanatory (Walliman, 2017) . Among them descriptive
research design best suitable for this study as it supports in presenting the information in more
detailed and meaningful manner toward the achievement of research objectives.
Data collection method: - It is above the sources that are mainly used for gathering
information regarding the current area of investigation. Primary and secondary method are
consider to be two main method of data collection. For this study both the methods will be used
ion order to combined information of both the sources to get best possible outcome. Under this
primary information will be gathered with the help of questionnaire which help in ensure that
view point of larger number of people can be gathered at a time which saves time and also ensure
effective presentation of information (Taherdoost, 2016). Under this the questionnaire will
uncover fresh information regarding the marketing mix approaches and manner in which it
benefited Cadbury, how it helps, what challenges can be faced or strategies to be adopted for
fulfilling the requirement of objectives. Data will be collected from managers of Cadbury by
sending tehm questionnaire through mail. On the other side secondary data will be gathered by
performing literature review where data will be gathered from sources like book, journal, articles
etc. with the help of online medium.
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Sampling: - It is a process of selecting group of people in such a manner that information
can be gathered on behalf of whole population. there are two methods using which sampling is
performed such as probabilistic and non-probabilistic (Tuohy and et. al., 2013) . For performing
this investigation probabilistic approach will be taken into consider as it provides equal chance to
each individual for being selected. For this study sample size would be 10 managers of Cadbury.
MAIN BODY
Secondary research
For developing understanding regarding the nature of study, secondary investigation is
performed where the information which is already get published will be evaluated so that further
study can be extended (Mackey and Gass, 2015). This will be done with the help of literature
review that support in presenting information through the view point of several scholars.
The concept of marketing mix for an organisation.
In view of Bhawsar and Chattopadhyay, 2015, Marketing mix is a set of marketing tools an
organisation or business used to sell products and its services to the target customers and
establishing their presence in target market. The marketing mix tool is a component of 7 different
elements which are also known as seven P's. The 7 P’s highlights the different segments which
are essential for developing a effective marketing strategies. These elements are product, price,
place, promotion, people, process and physical evidence. All these elements of marketing mix
are important for Cadbury to look over while developing then marketing strategy and
promotional plan. Effective use of marketing mix tools help an organisation to develop potential
marketing strategy and attain competitive advantage in the marketplace.
Advantages Cadbury gets for adopting of marketing mix in operations.
According to Quain. S., Marketing mix is an important tool which helps in organisation to
attain advantage and make use of promotional tools in the most efficient manner. The benefits
which Cadbury has in their favour while adopting marketing mix strategy are it helps the
company to promote its products or offerings in target audience in most potential manner along
with help in gaining the understanding of the customers and their buying behaviour. Cadbury
cannot sell its product without spreading the word about it and making the people for targeted
audience know about their offerings. The company has to develop a marketing strategy and put
their potential in the market spreading board about that goods and services. Adopting marketing
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mix strategy enable Cadbury to potentially spread word about their products and services among
the target markets and also enable it to understand their customers and their needs more closely.
Relationship between implementation of marketing mix by Cadbury and accomplishment of
competitive edge
According to Graham. A., Competitive advantage enables Cadbury to differentiate the
quality of its products and services and create superior value for its customers serving them
better than other competitors. Marketing mix considered to be one of the most important aspect
of marketing process play a significant role for creating value and satisfaction for customers. It
enables Cadbury to present itself and id8 sourcing in front of public in a very differentiated
manner rendering them best offer and value of products. Effective use of marketing mix strategy
with help the company to attain accomplish its competitive advantage and say one step ahead of
others and its potential competitors.
Primary research
For gathering the primary data over current study area questionnaire is used which support
in collecting larger amount of information at less possible time period from more people (Kumar,
2019). This gathered information will be further analysed with the help of content analysis that
help in creating several themes of each question to give reader an idea regarding what further
discussion is about and the it is attached with the finding from a particular question. He
questionnaire with its frequency is mentioned below:
Questionnaire
Q1. According to you, why marketing mix is considered to be a crucial
part in success of a product at marketplace?
Frequency
a) Improving promotional practices 6
b) Ensure better distribution network 2
c) Setting up product price 2
Q2. Among following what are several forces that attract an
organisation to involve marketing mix in their practices?
Frequency
a) Valuable guidance for resource allocation 5
b) Evaluate cost benefit 3
c) Facilitate effective communication 2
Q3 What is main benefit that Cadbury get with practicing marketing Frequency
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mix?
a) Provide action plan 2
b) Achieving competitive edge 5
c) Create customer value 3
Q4 What are the major factors that an organisation must consider in
order to constituting an effective marketing mix?
Frequency
a) Determination of consumer demand 4
b) Adopting right distribution channel 3
c) Circulating right set of information 3
Q5. Do you think, marketing mix supported Cadbury in achieving
competitive edge at marketplace?
Frequency
a) Yes 8
b) No 2
Q6. In what ways does marketing mix help Cadbury in achieving
competitive edge?
Frequency
a) Align internal capability with opportunities 5
b) Provide tactics for customer satisfaction 2
c) Help in differentiating products 3
Data interpretation
Theme 1: Marketing mix is considered to be a crucial part in success of a product at
marketplace
Q1. According to you, why marketing mix is considered to be a crucial
part in success of a product at marketplace?
Frequency
a) Improving promotional practices 6
b) Ensure better distribution network 2
c) Setting up product price 2
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Interpretation: - Marketing mix is considered to be a significant part within the success
of a product. By performing investigation over this it has been identified around 6 managers
stated that marketing mix support in improving promotional practices conducted y an
organisation. While on the other side 2 respondents said that it helps in ensuring better adoption
of distribution network. But 2 said that it supports in getting up product price effectively as per
the customers demand and its features. From this it can be said majority of votes are toward
improving promotional practices as marketing mix help in formulating effective strategies for
delivering right messages to customers on behalf of product which help in getting maximum
outcome.
Theme 2: Several forces that attract an organisation to involve marketing mix in their
practices
Q2. Among following what are several forces that attract an
organisation to involve marketing mix in their practices?
Frequency
a) Valuable guidance for resource allocation 5
b) Evaluate cost benefit 3
c) Facilitate effective communication 2
Interpretation: - There are number of forces that attract an organisation to perform
marketing mix practices while introducing a product to market. Through investigation it has been
found that 5 respondents said that it provides valuable guidance for the allocation of resources in
right manner, while 3 said that it supports in evaluating the cost benefits out of activities. On the
other side 2 of them stated that it supports in facilitating effective communication. Hence it has
been identified that major favour remains toward valid guidance from resources allocation as
marketing mix involve set of tactics that are focused toward product. Therefore, it help in
identifying that each resources related with its production to deliver for final consumption must
be used in right direction.
Theme 3: Benefit that Cadbury get with practicing marketing mix
Q3 What is main benefit that Cadbury get with practicing marketing
mix?
Frequency
a) Provide action plan 2
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b) Achieving competitive edge 5
c) Create customer value 3
Interpretation: - there are number of benefits that Cadbury get with appropriate
adoption of marketing mix to get into a market. Through investigation it has been ascertained
that 5 respondents believe that marketing mix provide an action plan for market performance of
product. On other side 5 believe that it supports in achieving competitive edge, while 3 said that
it helps in creating a customer value. Therefore, it can be interpreting that the main benefit that
Cadbury get through marketing mix is competitive edge as it helps it in differentiating
themselves with other competitors along with getting aligned toward customer expectation.
Theme 4: The major factors that an organisation must consider in order to constituting an
effective marketing mix
Q4 What are the major factors that an organisation must consider in
order to constituting an effective marketing mix?
Frequency
a) Determination of consumer demand 4
b) Adopting right distribution channel 3
c) Circulating right set of information 3
Interpretation: - As per the information mentioned above it has been identified that
managers said that an organisation must consider the consumer demand at first end while
working over marketing mix, but 3 respondents said that it is required to adopt right distribution
channel, while 3 respondents said that an organisation must focuses toward adopting right
channel of information distribution. From this it can be interpret that determination of consumer
demand is the major factor that an organisation must consider at first which support in aligning
all the strategies of a product toward satisfying customers. In addition to this it further support in
ensuring quick acceptance of product at marketplace.
Theme 5: Marketing mix supported Cadbury in achieving competitive edge at marketplace
Q5. Do you think, marketing mix supported Cadbury in achieving
competitive edge at marketplace?
Frequency
a) Yes 8
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b) No 2
Interpretation: - From the data which is mentioned above it has been found that out of
selected sample size 8 managers said yes that marketing mix support Cadbury in achieving the
competitive edge at marketplace. This is so because it helps in adopting right method of
interacting with customers while promoting product, adopting right channel for distributing
product and deciding price to which it must be delivered. On the other side 2 respondents said no
to this the brand reputation, Quality as well as variety in product is the main reason behind the
competitive edge that Cadbury gain at marketplace.
Theme 6: Marketing mix help Cadbury in achieving competitive edge
Q6. In what ways does marketing mix help Cadbury in achieving
competitive edge?
Frequency
a) Align internal capability with opportunities 5
b) Provide tactics for customer satisfaction 2
c) Help in differentiating products 3
Interpretation: - According to the information presented above it has been identified
that from the selected sample size, 5 respondents said that marketing mix support Cadbury in
aligning its internal capability with opportunities. But on the other side 2 respondents said that
marketing mix decide tactics for customer satisfaction and among them another 3 respondents
said that it supports in differentiating products. From this it has been identified that the majority
of people said hat marketing mix help in assessing the internal capabilities as well as demand of
customer in marketplace so that both can be aligned in order to preform well in market by
approaching customer with right strategy.
FINDINGS/RESULTS
From the above performed investigation it has been identified that this investigation
supported a lot in accomplishing the aim of the investigation. In this project both primary and
secondary investigation has been performed. While performing secondary investigation it has
been identified that marketing mix plays a significant role in performance of a product among
customers as it involves set of strategies that support in presenting the product in right manner in
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front of the customers (Davari and Strutton, 2014). On the other side it also support in achieving
competitive edge by formulating set of strategies for a product which beings from its production
to decide its characteristics, price etc. to continue with delivering right messages to customer by
adopting right promotional tactics and end up with adopting right distribution channel to provide
most convenient availability of product to final consumers. These all constitute a mixed plan
regarding the ways to be adopted for performing well within the marketplace.
On the other hand, by performing primary information it has been identified that there are
number of benefit that Cadbury is availing due its maintenance of marketing mix practices
throughout organisation such as creating value, achieving competitive edge and providing action
plan. Other than this, it is also identified that it supports in achieving competitive edge. This is so
because it involves set of tactics that support in aligning internal capability of organisation with
external opportunities, support in differentiating product from competitors and help in keeping
customer satisfied. Hence it can be said that above performed investigation supported in
accomplishing the main objective of the study in effective manner as this information help in
representing the relationship between adoption of marketing mix and achievement of competitive
edge.
CONCLUSION
From the above performed investigation it has been found that Marketing mix is
considered to be a tool that constitute a number of strategies for ensuring the better market
performance of a toward getting maximum customers satisfaction. From study it has been found
that there are number of benefits that an organisation get which includes it provides an action
plan to work on, support in achieving competitive edge in marketplace and also help in creating
value among customer by providing right product to right customer as per their need and wants.
Additionally, it is also identified that it supports in achieving competitive edge by differentiating
product from other and creating value among customers with proper adoption of strategies.
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REFERENCES
Books & Journals
Bhawsar, P. and Chattopadhyay, U., 2015. Competitiveness: Review, reflections and
directions. Global Business Review, 16(4), pp.665-679.
Davari, A. and Strutton, D., 2014. Marketing mix strategies for closing the gap between green
consumers' pro-environmental beliefs and behaviors. Journal of Strategic
Marketing, 22(7), pp.563-586.
Davari, A. and Strutton, D., 2014. Marketing mix strategies for closing the gap between green
consumers' pro-environmental beliefs and behaviors. Journal of Strategic
Marketing, 22(7), pp.563-586.
Kim, K.P., Kim, Y.O., Lee, M.K. and Myoung-Kil, Y., 2014. The effects of co-brand marketing
mix strategies on customer satisfaction, trust and loyality for medium and small traders
and manufactures.
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.
Lee, C.H., Ko, E., Tikkanen, H., Phan, M.C.T., Aiello, G., Donvito, R. and Raithel, S., 2014.
Marketing mix and customer equity of SPA brands: Cross-cultural perspectives. Journal
of Business Research, 67(10), pp.2155-2163.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design.
Routledge.
Muchohi, J.N., 2015. Marketing mix strategies adopted by tennis affiliated organizations to
enhance competitiveness. A study of Nairobi county, Kenya (Doctoral dissertation,
University of Nairobi).
Pomering, A., 2017. Marketing for sustainability: Extending the conceptualisation of the
marketing mix to drive value for individuals and society at large. Australasian
Marketing Journal (AMJ), 25(2), pp.157-165.
Taherdoost, H., 2016. Sampling methods in research methodology; how to choose a sampling
technique for research. How to Choose a Sampling Technique for Research (April 10,
2016).
Tuohy, D. and et.al., 2013. An overview of interpretive phenomenology as a research
methodology. Nurse researcher. 20(6).
Walliman, N., 2017. Research methods: The basics. Routledge.
Wiek, A. and Lang, D. J., 2016. Transformational sustainability research methodology.
In Sustainability science (pp. 31-41). Springer, Dordrecht.
Online
Lake. L., 2019. What the Marketing Mix Is and Why It's Important. [Online]. Available
Through: < https://www.mindtools.com/pages/article/newSTR_94.htm />
Quain. S., 2019. Advantages and Disadvantages of Marketing Strategy. [Online]. Available
Through:<https://smallbusiness.chron.com/advantages-disadvantages-marketing-
strategy-53961.html />
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Appendix
Pre-Submission Guidance Form
Member Name:
Member Number:
Email address:
1. State your intended Project Title:
“Developing marketing mix for competitiveness”
Explain: why you have chosen this Project Title; its relevance to this Programme; and what
you hope the Project Work will achieve:
The current topic is selected as marketing mix build up a foundation for marketing practices
performed by an organisation so it helps in determining ways in which it influence a business.
This topic is relevant from the view of future employment as it supports in practically
implementing this concept in working by using theoretical understanding. This project will
provide an understanding regarding the importance of devising marketing mix strategy for a
business and manner in which it supports in achieving competitiveness at marketplace.
2. List clearly each of your Project Objectives (usually 3 or 4 should be stated):
Objective: -
 To identify the importance of exploring about the concept of marketing mix for an
organisation
 To determine several advantages that Cadbury get with adoption of marketing mix in
operations
 To ascertain the relationship between implementation of marketing mix by Cadbury and
accomplishment of competitive edge.
3. Outline the research, study and work which you plan to undertake for this Project,
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and explain how you think that will lead to your objectives being achieved:
For performing this study qualitative method of investigation is used that will support in
collecting the quantified data for study and help in presenting most accurate information
regarding the particular phenomenon. Additionally, both primary and secondary data sources
will be used to perform study, where primary information will be gathered using questionnaire
and secondary with the help of online sources like book, journal, article. The current study be
firstly involves secondary study that create a base of further study over which information will
be gathered using questionnaire. Hence, current data is justified with past evidences to achieve
objective.
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