Marketing Essentials: A Detailed Business Marketing Plan for Cadbury
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This report covers the marketing essentials for Cadbury, including a comparison with Nestle, evaluation of different tactics for attaining business objectives, and a detailed business marketing plan for launching Cadbury Noodles. The plan includes a SWOT analysis, STP, budget, profit margin, and marketing mix.
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Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 COVERED IN PPT.....................................................................................................................1 TASK 2............................................................................................................................................1 PART A...........................................................................................................................................1 Compare and evaluate basic marketing plan for Cadbury..........................................................1 Evaluate different tactics applied by organization for attaining business objectives..................4 PART B............................................................................................................................................4 Produce detailed business marketing plan for an organization...................................................4 Design strategic marketing plan that tactically applies use of 7 Ps to attain marketing objectives...................................................................................................................................7 CONCLUSION...............................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION Marketing defines as a process that start right after the designing of a good and services, production of offerings etc. to gaining sales and delivery. Marketing essential is a crucial concept that is useful to understood the sales techniques within marketing. It is wider scope that involves marketing functions, selling techniques, publicity, emphasis on marketing mix dimensions etc. that are significant concept of marketing(Kim and Lee, 2020). To complete this report Cadbury is a leading British multinational confectionery company in UK that deals in international market. The company was founded on 1824 where they sold variety of confectionery products to customers. Further is also involves comparison of Cadbury with their competitor present within the marketplace that helps in developing tactics strategies so that targets are attained effectively. At last it includes the basic marketing plan so that overall objective of business is to be attained successfully. TASK 1 COVERED IN PPT TASK 2 PART A Compare and evaluate basic marketing plan for Cadbury Marketing mix refers to a tool that is based on seven elements which are mainly used by company on order to produce or sell the products on wide level. These elements helps Cadbury to evaluate their current performance within market effectively(Pike, 2020). By using marketing elements Cadbury do comparison with other company such as Nestle so they they develop tactics to improve profitabuility and growth in marketplace. Comparison of Cadbury and Nestle are demonstrated below by using 7 Ps of marketing mix: BASISCADBURYNESTLE ProductCadburyisaleadingUKbased companythatworkglobally. Companyprovide wide range of standard products to customers such as Cadbury Bournville, Dairy milk, Nestle is a Swiss based company that offer varieties of products suchasbeverages,milk products,cookingaides, chocolates etc. The main items 1
Caramel,Oreo,perk,bournvita, Bytes, Fruit sundae etc. The main product of Cadbury is Dairy milk duetowhichcompanyregain popularity in international market. thatNestleoffersisNescafe, Nestea, Maggie noodles, Maggie Pasta,Kitkatetc.Hence,to compete Cadburyleadings I.e. Bournville or Dairy milk, Nestle offer Alpino(Cooper, 2020). PriceCadburysetthepricesoftheir productsasperqualityrangeof products.SuchasforBournville theyofferhighpricewherethey target elite people. Whereas for perk, Eclairs,FiveStartheyfollow competitive pricing strategy where they charges as per rival to attracts large base of customers. Nestle set their price of products as per individual products, such asforNescafeandMaggie company adopts skimming price toattractslargebaseof customers as these products of nestle are attractive because of quality. For other products they adopts economic pricing strategy Munch etc. to attract maximum number of customers effectively. PlaceRecently company operate in around 200+countriesmainlyinAsia, European,Americacontinentetc. andCadburyselltheirproducts online where every customer reach in all over the globe. This developed companyvisibilityandcustomer base in global market due to high appreciable channel of distribution. Nestle operate at global level and their products are easily avail at superstores, retail shops and in urban and rural areas. This have formsofdistributionsuchas retailers or online stores where theyattractslargebaseof customers on global level. PromotionCadbury offer several promotional strategy to advertise their products. Astheyadoptstheuseof newspaper,tevelvision,useof Nestle is a leading company that promotetheirproductsusing traditional or modern marketing wheretheyadoptstheuseof 2
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internetwherenumberofpeople spend most of their time and this is beneficial for company to maximise sales(Proctor, 2020). Billboards,socialmediatools (Facebook,Instagrametc.)to attracts and create awareness in theeyesofcustomersabout products. PeopleCadburyhighlyemphasisonthe developmentofworkforceby offeringpropertrainingto employees so that they achive the goals proficiently. It is essential for Cadburytoattractcustomersand solving their issues frequently. This alsohelpsindevelopscustomer loyal towards company. By offering trainingtoemployeestheyfeel comfortableandsatisfiedand performed task effectively. Nestletreattheirworkersand customers on priority basis. As theyensurethatdemandsof customersisfulfilledon preference basis so that customer level of satisfaction is high. For thistheyofferpropertraining sessiontoemployeesusing coaching and mentoring so that theydeliverbestproductand servicetogainprofitsfor company success. ProcessCadbury adopts various process to deliver the products to customers on appropriatebasis.Todeliver products company emphasis on their operational process where they has storesandwarehousesatprime location. Company also update their production or manufacturing process by updating machines so that quality of products are generated. Nestlealsoadoptsonline process to deliver the products to customers where, users order the product online and it is delivered to customers in effective manner. Thus company also ise advanced productionandmanufacturing machinestomanufacturedthe product timely and efficiently. Physical evidenceThe Physical evidence of Cadbury is their packaging of products that is easily identified by customers in a The main physical evidence of Nestle is the official website and attractive packaging of products 3
crowd.Ithelpsinattractingand maintainingloyalcustomers prominently. due to which customers easily recognisedtheproductsof customers at a superstore. Evaluate different tactics applied by organization for attaining business objectives From above information of marketing mix Cadbury understood its correct position in marketplace and areas where they need improvements. Therefore company adopts the bundle pricing in which they offer varieties of products to customers on discount and offers as bundles. In this company need to ensures that their products are available at every retail and supermarket store so that wide purchase of offerings is to be done(Charlesworth, 2020). Cadbury need to become popular for strong sales and marketing network because products are easily accessible to users at different location on international basis. It helps in attaining business objectives prominently. PART B Produce detailed business marketing plan for an organization Marketing plan is presented as a operational and formal document that outlines several promotional strategy of company. This benefits the business firm in attaining the targets and customers attraction so that high profitable results are enjoyed by company. With the use of marketing plan, Cadbury is able to focus on take strategic decisions related to launch of new product enter into the market. It also help in segmenting, targeting and positioning themselves in an appropriate manner. Executive summary Cadbury is a leading British multinational confectionery organization that serve their presence in global market. This company is founded by Mondelez international that is situated in London, England. At present Cadbury operate in around 40+ countries and famous for their effective range of products such as Dairy Milk, Bournville, cream egg etc. Now to enhance their market share Cadbury emphasis on introducing the Cadbury noodles so that they capture the large share in marketplace(Xu and Gao, 2021). For this organization develop marketing plan so that high sales and revenue can be earned that is crucial to lead the confectionery global market. Vision 4
The vision of Cadbury is to work together to create a brand that people love. On this vision company is working for attracting large base of customers effectively and efficiently. Mission The mission statement of Cadbury is based on offering quality products and to maintain reputation they offer quality; as Cadbury commitment is to continuous improvement will ensure that company fulfill their promise. Objectives Business objectives helps organization in deciding what company want to attain. SMART objectives in terms of Cadbury are presented below: Specific- Cadbury is plan to develop their sales around 30% by introducing Cadbury noodles. Measurable- In this Cadbury measure their performance using Bench marking technique so that their sales would be enhanced. Attainable- To attain the objective of launching Cadbury Noodles in marketplace company need to employees skilled workforce and for this they follow participate leadership style to guide workers(Seebacher, 2021). Relevant- To develop sales Cadbury plan to increase market share by 15%. Time bound-The estimated time for attaining the goal is around 5 months. Swot analysis It is a strategic tool that help Cadbury to assess strength, threats, weaknesses and opportunities in proper manner. By this company give tough competition to their rival. StrengthWeaknesses Strong brand loyalty of Cadbury is one of the major strength. It is developed becausetheyofferpremiumand economic price products to customers. Althoughcompanyhavereowned marketleaderinchocolatesasthey have an effective distribution channel in 40+ countries. ThemajorweaknessofCadburyis developingcontroversiesrelatedto worm and cockroachesin the products becauseofthiscustomerslosetheir trust on company. 5
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OpportunitiesThreats EmphasisonOnlinemarketisan effective opportunity for Cadbury due to which high base of customers are attracted towards it within small period of time. More competitors are present in market such as Mars, Nestle etc. STP Segmentation-There are various ways by which company segment their customers in variousmannersuchasdemographic,geographical,psychologicalandbehavioral segmentation(Mintz,Gilbride,LenkandCurrim,2021).IntermsofCadbury, organization segment people in terms of demographic basis mainly on age and income basis. Targeting- Cadbury is mainly emphasis on targeting the people on the basis of age factor. Targeted customers of company are mainly from above 8 years to 40 years. This is done so because these age groups people are highly interested to eat confectionery products. Positioning- In order to maintain the position on global level Cadbury emphasis on advertise their product using social media and campaigning for launching Cadbury Noodles. To develop position of Noodles Cadbury deliver free samples to customers so that they know about the new product in a better manner. Budget Totalcost for introducingand producing a newproduct i.e. Cadbury Noodlesis mentioned below: ParticularsAmount (€) Advertising100000 Employees training120000 Raw materials100000 Machineries110000 TOTAL430000 6
Profit margin Company emphasis on introducing new product to develop their profitability by 15% in coming 12 months. Monitoring and controlling To control the operations at Cadbury manager highly emphasis on using the key performance indicator because it benefit the company. It also helps in comparing the past performance with current performance so that high profitable margin is to be enjoyed by company in appropriate manner. Design strategic marketing plan that tactically applies use of 7 Ps to attain marketing objectives In order to maintain and analyse the performance of new launching in marketplace, marketing mix is presented so that company attain their objectives effectively and efficiently: Product-Company introduced new product within marketplace i.e. Cadbury noodles for generating high revenues. Price-For deliver the Cadbury Noodles, company decide to rate their product on low pricing strategy so that number of customers are attracted towards and buy the same (Purohit, Paul and Mishra, 2021). Place-This particular product is available offline on all stores and also on online market so tat large base of customers buy's it. Promotion-In terms of Cadbury, company is going to offer free samples to customers as it helps in promote the products and attracts customers towards it. Further company also use innovative social media advertisement so that large base of customers are attracted towards it. People-To launch Cadbury Noodles, Manager emphasison offering training and development sessions to employees so that production of Noodles done in proper manner. Process-Manager of Cadbury adopts the use of lean methodology so that company eliminate to spend the extra cost at the time of performing activities. Physical evidence-The physical evidence of the product is advertisement and free samples of the noodles that will be distributed to customers(Islam, 2020). 7
CONCLUSION From the above information it is to be concluded that marketing essential is essential conceptwithinanorganisation.Thiselucidatestheelementsofmarketingmixwhere organisation do comparison with the competitors so that effective tactics are to be developed effectively. After that a marketing plan is to be developed under which a launch of new product is to be presented within the market so that company attain more profitable results within the marketplace. 8
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REFERENCES Books and Journals Charlesworth, A., 2020.Absolute Essentials of Digital Marketing. Routledge. Cooper, C., 2020.Essentials of tourism. SAGE. Islam, M.M., 2020. Segmenting, targeting and positioning in Islamic marketing.Journal of Islamic Marketing. Mintz, O., Gilbride, T.J., Lenk, P. and Currim, I.S., 2021. The right metrics for marketing-mix decisions.International Journal of Research in Marketing,38(1), pp.32-49. Pike, S., 2020. Destination MarketingDestination Marketing: Essentials. Proctor, T., 2020.Absolute Essentials of Strategic Marketing. Routledge. Purohit, S., Paul, J. and Mishra, R., 2021. Rethinking the bottom of the pyramid: Towards a new marketing mix.Journal of Retailing and Consumer Services,58, p.102275. Seebacher, U.G., 2021.B2B Marketing. Springer. Xu, J. and Gao, X., 2021. E-payment systems, e-marketing, and e-advertising.E-business In The 21st Century: Essential Topics And Studies,7, p.125. 9