The provided assignment covers a wide range of topics related to marketing and hospitality, including the evolution of services marketing, human resources essentials, and destination marketing. The document includes references from books and journals, providing a comprehensive understanding of these subjects.
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MARKETING ESSENTIALS
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 P1. Roles and responsibilities of the marketing function............................................................3 P2. Application of marketing mix into the marketing planning process.....................................5 M1. Roles and responsibility of marketing function...................................................................8 M2 Significance of interrelationship between marketing and other functional units................8 D1. Interrelationship between key elements of functional department:.....................................8 TASK 2............................................................................................................................................9 P3 Compare the marketing mix of two different organisation:-.................................................9 M3. Different tactics used by Cadbury to achieve its objectives:............................................11 D2. Use of 7P's to achieve marketing objectives of Cadbury..................................................12 TASK 3..........................................................................................................................................12 P4. Producing and evaluating a basic marketing plan...............................................................12 M4. Marketing plan for Cadbury:............................................................................................16 CONCLUSION..............................................................................................................................16 REFERENCES..............................................................................................................................17
INTRODUCTION Marketingistheprocessofanalysingwhatconsumersneedsandmeetingthose requirements by providing them with products and services that can satisfy their demand. It is a action which is associated with buying and selling of commodity. This involves selling, advertising and delivery of items to people. Marketing is directly responsible for identifying, anticipating and satisfying customer requirements with maximum profit(Baker, and Magnini, 2016). The main objective of marketing is promoting its product and services to its present and potential customer that should be attained within a specific time. To build up the public image or creation of goodwill within time frame is another purpose of marketing. Cadbury is British multinational confectionery company presently operates in more than 50 country worldwide. There are various products which is liked by everyone such as dairy milk, silk, bubbly, fuse, etc. This report is consist of roles and responsibility of marketing related to marketing environment. Along with it file includes interrelationship among marketing and other functions. In addition to this report also covers marketing plan which gives them an advantage of higher competitiveness. TASK 1 P1. Roles and responsibilities of the marketing function Marketing refers to the process of delivering goods and services from manufacturer to end consumer to satisfy their need and want. This process includes various activities like advertisement, selling, delivering products to customer (Brassington and Pettitt, 2013). The major role of marketing manager of is to attract customers by various promotional activity and influence them to purchase products. Following are the marketing functions of Cadbury- Pricing :- The cost are decided according to features and nature ofproductinmarket. Pricing refers to the monetary value of goods. It is the more complex task as right pricing of the product help in generate high profit so price must be set according to the quality and use of product . In market pricing play an important rolein satisfying consumerfor a particular product of company. Cadbury uses differential pricing
strategy to offer its product to middle as well as high class people, in this company keep its product price at minimum to capture large market area. Distribution Network :- Distribution network refers to the chain of business to supply its goods and services to the right person at the right place and on time. This chain includes manufacturer, wholesale, retailer and consumer (Brereton, 2015). Cadbury doesn't sell its product directly, product flow from different intermediaries perform variety of functions before it reach to final customer. Promotion :- Promotion refers to the set of activities that are performed by marketing manager to communicate about the product and brand to the customer using various sources like advertisement, publicity, promotional campaign, sales promotions etc. Cadbury uses advertisement on TVs, Internet or over banner and also uses sales promotion to promote its product by providing various offers and discounts in festive season to increase its sale. Company also promote their product using brand extension by adding flavours to their product or using rebranding strategy by positioning its product in different category. Marketing Information System :- MIS is computer based system, it provided information about market like current and future needs of the consumers (Brooks and Simkin, 2012). Mangers collect data from various sources to provide better services to their consumers according to the need of target market.MIS is important software as it provided the information related to market that support Cadbury in formulating policies and strategies for marketing the product and help in decision making process. Selling :- Selling is the transaction between buyer and seller for a particular product. The main aim of Marketing manager is tosatisfy the consumers by selling the product that suits their requirement and to earn high profit. Cadbury highly focused on maintaining long term relationship with customers and providing the best quality of product at reasonable price to target market. Company uses various marketing strategy to capture the larger market share (Cooper, 2012). It uses Differential and cost leadership strategy in which it offers product in relatively low price in as compare to its competitors.
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Market Research :- Marketing research refers to the process of collecting information about the market to determine the consumer's need and preferences. This research help Cadbury to offer their product as per the requirement of segments to provide satisfactory product to their customers and if require can make changes to their product to increase the market share of company (Desai, 2013). This research includes questions like who are the people to sell the product?, Why would they choose this product?, How to influence they to purchase?, What additional services competitors are providing to retain customers?, What strategies are required to increase the market share?. etc. Answer to these questions require some observations related to marketing trend and competitors product.Finance :- Finance refers to the management and investment of fund, money and capital in business to earning maximum return in future. There are many sources by which company can raise fund like equity share, preference share, long term loan and venture capital etc. Manager of financial department are responsible for funding the operations of otherdepartmentinanorganisationwheneverrequired,sotheremustbeproper communication between the finance manager and marketing manger to manage the fund of marketing activities like promotion, distribution, caring and warehouse cost (Diana, 2014). Cadbury invest its capital more in promotional activities like Advertisement, sale promotions, personal selling etc. P2. Application of marketing mix into the marketing planning process. Marketing is strategic discipline which support various activities of business and it is important essential ingredient of corporate strategy as coordinated with corporate plan. In company, marketing function does not exist in isolation. Therefore, it is very essential to see how marketing connects with other organisation's function. For developing an effective plan there is requirement of close interlink with other functional areas of business. All functions in enterprise should focus on customers so take a look at other functions and their relationship with marketing. Human-resource-management and Marketing : The function of human-resource-management is to overlook on recruitment, selection,professionaldevelopmentofemployeesandtraining.Otherfunctional
responsibilities are employee motivation, health & safety, performance management, well being and the function which holds knowledge related to legal aspect of human resources (Dibb and Simkin, 2013). Marketing department highly dependents on HRM to ensure the placement of right candidate poses required skills so that they contribute toward the growth of the company. This department have an essential communication role which is closely related to marketing. Research & development and Marketing: It is important department in company which create new ideas, creative new products & services and innovation. The requirement of present and potential customer should be focused for any new research and development in order to deliver commodity that satisfy customer needs. This department aims to generate new information that can make production of product more effective and efficient. When a enterprise wants to grow than they create innovative inventions and it leads to creating image in eye of customer. Cadbury have to bring new products time to time so that consumer does not get bored with existing products. Marketing departing interlinked with Human resource department because this tells about needs and wants of ultimate user and how to satisfy them. Finance and Marketing: This is considered to be very essential section of the firm because it has all records related to finance which is used by company at various places (Jones and Rowley, 2011). The marketing department require to work closely with finance sector to ensure that there should be sufficient budget to meet the requirement for promotion, researchanddistribution.Allfunctionsareoperatedaccordingtothefinancial capabilities in organisation finance wing want that other branch work in their allocated budget. Marketing department have to focus on building market share, sales volume at the same time finance sector may concentrate on covering cost, cash flow and paying back investment. Production and Marketing: There is close relationship between these two department is very essential for improving the performance of company. Proper communication results in coordination among marketing and production function and this results in satisfying customer needs
and desire which increase in organisation profits. Each department has its own different roles (Malhotra, Birks and Wills, 2013). Production section concentrate on managing the quality and quantity of product, arranging deliveries and focus on creating new product. On the other hand, marketing sector works on meeting their needs and satisfying customers. Cadbury must cooperate with both section and control conflict if arises between them. Customer service and Marketing: Customer service is very crucial department of organisation because it tackle the problems of consumers, take feedback and also provide after sales services that leads to increase in sales. This department used for taking care of customer after product sold to them. Marketing section help in knowing the problem by conducting various surveys. After knowing problem customer service solves issue and make customer happy. Sales and Marketing: It is the only department which sell the goods and services to consumer in market. Marketing team helps in providing proper information about the needs and wants of customers. Marketing department is reaching target audience and motivate them to buy their product it does not sell any product this only starts the process. Sales team actually sells the product and services with help of marketing department. The process of sales includes customer is part of monetary exchange for a commodity. Cadbury use this for increase sales in long term. Distribution and Marketing: Distribution department is department which helps in making a product or service available for consumer easily (MAYER, 2011). As distribution is one of the element of marketingmixsoitplaystheveryimportantroleinfirm.Bycooperationwith distribution channel and marketing, enterprise can make highest level of costumer satisfaction. M1. Roles and responsibility of marketing function Marketing refers to the flow of goods and services from manufacturer to the end user that fulfil the demand of customer in an efficient manner. Marketing manager has to perform several functions to provide quality services to customers in order to provide satisfaction which includes
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pricing, distribution network, promotion, Marketing Information System, Market research and Finance (Mihart, 2012). Cadbury invest huge capital over promotional activities to increase product awareness using information about product and services that is gathered through market research and also manage data to formulate long term policies to deliver better services. Company also promote their product through retailer by motivating them with attractive incentives, as they are the persons who are in direct contact with customer. M2 Significance of interrelationship between marketing and other functional units Operations of marketing department are interlinked with other functional units like Human-resource-management,Research&development,Finance,ProductionandSales department of an organisation. Communication among these sections are essential to achieve organisational goals and for smooth running of business activities. Co-ordination between HR and marketing department help an organisation to recruit the employees with required skills that can help in generating sale and satisfy customers that will maximize the profit and market value of Cadbury. Better communication with Finance department help marketing manager to develop an budget that help in reducing the expenses so that functions are performed as per the financial capacity of the firm and that company can achieve maximum benefit at minimum cost. D1. Interrelationship between key elements of functional department: According to (Nguyen and Simkin, 2012), it is summarised that interrelationship among marketing and other functional department is very beneficial for organisation to identifying wants of consumers and meet their demands. There should be proper communication between different department which leads to better functioning and improvement in performance. This also helps in earn more profit with satisfying customers needs and desire. As overall aim of firm can only be achieved through coordination and team work among employees of various departments. Human resource department is closely linked with marketing sector as HR recruit candidate which is suitable for marketing function. Research and development section is helpful in developing new and innovative product for attracting customer this leads to increase in sales and maximise its profit.
TASK 2 P3 Compare the marketing mix of two different organisation:- Marketing mix refers to the combination of various marketing tool that can be used to influence the purchasing decision of the consumer. This includes 7P's that used by Cadbury which help in strengthening the Brand image of its product or services. Following table shows the marketing mix tools of Cadbury in comparison with Nestle ElementsCadburyNestle ProductCadbury manufacture and sell confectioneryproducts.It dealsinproductslikebars, cakes and biscuits, drinks and ice creams & desserts. In its chocolates or bar segments it has brands like Five star,Dairy milk, Bournville,Perk, eclairs etc. Nestle is an food and drink company.Itsproductsare divided into four segments like beverages, instant food, milk & milk product and chocolates (Moore,2014).Itincludes products like baby food, water, breakfast cereals, coffee & tea, dairyproducts,Icecreams, frozenfoods,chocolatesand snacks. PriceCadburyusesdifferential pricing strategy i.e. it sets price of product like Oreo at high as it provide high quality and also requires constant marketing to stay on top. It also has some low priced products like perk, five star and eclairs that gives the taste of Cadbury at lower price. Nestleusespricesskimming strategy to grab the maximum ofmarketshare.Inthis strategyitfirstlaunchedits quality product in market with relatively high price and with theentrantofsubstituteit started lowering its price over its offerings. PlaceThedistributionchannelof Cadburyisverywide.It Nestledistributeitsproduct throughachannelof
follows same process as used byFMCGindustrythatis breakingthebulk (OgunmokunandTang, 2012).Itschocolateis manufactured in England and then are distributed across the world, after that these bulk are broken down and send from C&F agents to distributors and then to retailer that sell it to customers.Itpresentin200 countries. intermediariesthatincludes manufacturer,C&Fagents, distributors,retailers, consumer.AsCadburyhas strong positioning it becomes moredifficultfornestleto converttheretailertosell nestlechocolatesinsteadof Cadbury.Thiscanbedone only through promotions. PromotionCadburyusesvarious promotionalstrategiesto increase the brand awareness oftheproductlike advertisements,sales promotion,publicityetc. CadburymainlyusesTV commercials to promote their products and also uses brand extension by adding flavour to their product. Nestle follows Advertisements andsalespromotionasthe major tool for promoting their products.Companyprovides various offers to attract their customersforinstanceit providediscountovertheir products on occasional basis. PeoplePeoples play significant role in maintaining the positive brand imageasvarious intermediariespromotethe productsanddelivertoend consumer. Cadbury target the Nestlemanagesitshuman resourcebyprovidingthem attractiveincentives,trade discounts to their distributors and retailer to promote and sell itsproduct(Pike,2015).Its
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youngpeopleandchildren mainly but it also offers the producttooldpeople,it position its brand Dairy Milk for all age group. maintargetischildrento whom they offer products like flavouredmilk,chocolates, maggie etc. and youngsters to provide productslikecoffee, flavoured milk etc. ProcessIt use to record all the methods andprocessesusetosell productandwhetherthe service provided are helpful or not and the point where it need improvement. Nestle uses various technology to process its product for better quality. It also uses vending machinetoservecoffeeto their customer with more ease. Physical evidenceCadburyprovidevarious incentives to their retailers for adding extra effort to display theirproductsinstoreslike they use pamphlets, brochures that provide information about variousproductanduses window display, price list of product to attract the attention ofcustomertowardthe products. Nestlecontinuouslymaintain andreview the customer data and display its products market sharealongwithitsproduct chart to attract the attention of thecustomer.Italsouse attractivepackagingmaterial tograbattentionwhile customer movement in stores. M3. Different tactics used by Cadbury to achieve its objectives: Marketing manager uses various tactics to achieve organisational goal which includes managing cash flow, incentivise staff, training management, provide useful & actionable feedback, setting employees goals and financing efficiency through technology. The objective to set employees goals is to make their actions toward contributing overall organisational goal.
Another tactic which must be followed by Cadbury to attain object is incentivise staff which means increase staff morale by providing them incentives and rewards for better performance. This helps in maintaining staff retention and also boost employee confidence. It also provide attractive offers to their customers for various occasions by providing discounts, coupons and other schemes. D2. Use of 7P's to achieve marketing objectives of Cadbury Marketing mix refers to the combined use of various elements that are under the control of marketer to pursue customers for purchasing of product and services (Papasolomou and Melanthiou, 2012). Cadbury uses various elements of marketing mix in their strategic planning to achieve marketing objective. Following are the marketing mix elements used by Cadbury: Product– Cadbury keep on innovating their offers by adding flavours to their chocolates & bars or through brand extension by introducing new product in market. Price– Company maintain its customer base by keeping their price reasonable along with the high quality in their offering. Place– It uses wide distribution channel to provide products on time and also offer attractive bonuses to their intermediaries to deliver valuable services. Promotion- Cadbury uses TV commercials as their main source of promotion to attract customers. People- It retain its employees by providing them incentives and promotions as per their performances. Process– Company use to track the various process to identify the improvements required in products. Physical evidence– It uses window display as their strongest evidence to capture the attention of visitors. TASK 3 P4. Producing and evaluating a basic marketing plan Marketing department formulate market plan which include future objectives, goals, activities, resources needed, time limit, budget, etc. This provides appropriate information related
to future goals and time in which employees and marketers have to perform their activities in order to achieve goals of company. Marketers analyse their internal and external environment that provides information related to company's strength, weakness, threat and opportunities. With this, managers can plan their future activities and operate accordingly to ensure maximum profits and revenue to the company (Scarborough, 2016). Cadbury is one of the finest confectionery company and managers develop their plans in order to maintain their position and growth in global market. For developing marketing plan company go through several steps they are as follows Company's background Cadbury is a multinational confectionery company established in 1824. It was headquartered in Birmingham, United Kingdom. It is second largest company and operates in more than 50 countries across the world. They are selling different varieties of confectionery products like chocolates, Crème Egg, beverages, Easter, ice creams, spreads, etc. Vision, mission and objective of company: Vision:It represents the goal which company wants to achieve in future. Vision statement of Cadbury Company is “Working together to create brands people love”. This statement helps in communicating the purpose and value of company. Mission:This statement reflects primary objectives and their main purposes. Mission of Cadbury is “Cadbury means quality”. Company has established great reputation in the market and that is made due to quality of products they provide. They believes in continuous improvement and by this they reflect that, they are committed towards their promise. Objectives: Their main aim is to become world's largest and biggest confectionery company. They have been giving tough competition to other industries operating in similar business. STP :- STP refers to Segmentation, Targeting and positioning of product. It is an marketing strategy that help Cadbury to divide the whole market into sub group of potential customers so that they can target their marketing efforts to those segments that
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requires attention and can position the product in the market segment as per the demand of the customer (Srivastava, 2014). Segmentation:-Segmentation refers to the process of dividing the consumers on the basis of their characteristics into segments or parts that are actionable, accessible, definable and have growth potentials. Cadbury segment its market in psychological segments on the basis of size of bars(small blocks, large blocks), Geographical (rural, urban,semi urban), behavioural (consumption and gifting). Target:-Target refers to the group of existing or potential customer on which business has decided to aim its promotional and marketing efforts. Earlier, Cadbury's target market includes children between the age of 4 to 16, now it has stretched its target to infinite age group. Positioning:-Positioning is an marketing strategy that outlines what an marketing manager must do to market its product to its customer and this is done by the use of marketing mix elements. Cadbury position itself as “ Delivering recipes for life's upbeat occasions” that means CadburyDairy milks are offered by company to celebrate every occasion. SWOT Analysis of Cadbury STRENGTHWEAKNESS Theyhavestrongbrandsinproduct portfolio,suchasdairymilk, Bournvita, Oreo, five stars, etc. Cadbury has strong brand loyalty It uses market penetration strategy in whichcompanyoffershighquality products at reasonable price. It is the second largestconfectionery companybecauseithashighbrand equity and customer loyalty Few controversies related to advertising worms, etc. which made international news. Low penetration in rural markets. Duetohighsugarcontent,people sufferfromdiabetes,cholesterol disorders, etc. OPPORTUNITIESTHREAT Can penetrate in rural markets.Inflation can cause reduction in sales of
Cancomeupwithnewtastesand flavours. Diversification into product ranges. company. Health conscious people decrease the intake of chocolates, Increase in the rate of raw material. Marketing budget :- Cadbury creates its budget to calculate amount to be required to financing its operations regarding promotions and positioning of its product and services without any delay or outstanding expenses. Marketing budget Particulars 1st year 2nd year 3rd year 4th year5th year Initial money80005000100001200018000 Investment18000250003500018000 Total800023000350004700036000 Marketing outlay Promotion800090009000100003000 sales publicity20004000300020002000
Direct selling40005000200040004000 Total140001800014000160009000 Monitoring and control :- This is the last step of marketing plan which includes various control measures that must be used by marketing manager after implementing marketing strategies in order to control planned activities. Plan are the milestones toward the success of business and are need to be managed so that gaps between the planned and actual performance can be identified and removed. M4. Marketing plan for Cadbury: Marketing plan is a activity that included in accomplishing marketing objectives within specific time. It starts by developing different kind of strategies such as STP and SWOT analysis that provide direction to achieve organisational objective. SWOT analysis helps in identifying internal and external factors which helps in achieving competitive advantage(Zirkle, 2014). It also evaluate the threats present in external environment so that marketing manager can formulate strategy to deal with these issues and convert it into opportunities. STP is marketing strategy used to divide customers into segments so that they can target their marketing efforts towards these segments as per demand of potential users and can position the product as solution of consumer's problems. CONCLUSION As per the above given project, it can be concluded that marketing plays very essential role in promoting the product and services to potential customers. All the components of marketing should be applied properly as it helps in effective functioning of organisation. Manger have to use promotional tools that attract the customer to buy a product. For Cadbury it is very necessary to evaluate SWOT analysis and STP to understand about internal and external factors
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