Importance of Marketing Strategy in Introducing a New Product or Service

Marketing
Chocolate (UNIT
2)

Table of Contents
INTRODUCTION...............................................................................................................3
MAIN BODY.......................................................................................................................3
Key roles and responsibilities of marketing function......................................................3
The roles and responsibilities of marketing in relation to wider organizational context.4
Comparison of marketing mix of different companies....................................................5
Marketing Plan...............................................................................................................8
REFERENCES..................................................................................................................1

INTRODUCTION
Marketing refers to all the activities undertaken by an organization to promote the
buying and selling of its goods and services. It includes advertising, selling and
delivering of products to its customers. It is imperative for every business to market its
products in order to become successful. The main objective of marketing is to identify
the needs and wants of customers and develop goods and services accordingly.
Cadbury is a British Multi national confectionery company founded in Birmingham,
England in 1824 by John Cadbury. Headquartered in London, United Kingdom, the
company is now owned by Mondelez International and it ranks as the second largest
confectionery company in the world after Mars. As of 2019, there are more than 70,000
employees working for Cadbury in 50 countries. The current study will highlight the
importance of marketing strategy in introducing a new product or service and how it can
help in the achievement of organizational goals and objectives.
MAIN BODY.
Key roles and responsibilities of marketing function
The marketing function plays several roles and responsibilities as it is concerned with
the process of converting a concept into product or service. Through its medium, the
goods and services are brought to the place of consumption. Its roles and
responsibilities include:
 Gathering and analysing market information: Its is very important for an
organization analyse the market information through proper research and
development in order to identify the latest trends in the market, level of
competition, needs and wants of consumers, level of quantity required, at what
price and the source of distribution. After analysing the market information,
Cadbury plans to spread its operations online where it can chocolates and other
confectionery items directly to its customers as it would not only help them in
reducing the operational cost through elimination of middle men but also increase
the market share which will lead to profit maximization (Kotler, Harker, and
Brennan, 2018).
 Setting marketing strategy: The most important role of marketing is that it helps
in developing strategy for the business that can help them in increasing the sales