Marketing Essentials: Analysis of Cadbury's Marketing Function and Strategies
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This assignment analyzes the marketing function of Cadbury and its relation with other functional areas of the firm. It also describes the marketing mix and compares Cadbury's strategies with its rivalries.
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Marketing Essentials
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Table of Contents INTRODIUCTION....................................................................................................................................3 ACTIVITY 1.............................................................................................................................................3 Covered in PPT......................................................................................................................................3 ACTIVITY 2.............................................................................................................................................3 CONCLUSION.........................................................................................................................................7 REFERENCES..........................................................................................................................................8
INTRODIUCTION Marketing is the set of activities which perform its action to promote and position brand or product for their target market to meet their requirements by supplying qualitative finished goods and services. The marketing essential analyse the potential consumers of product in order to plan the pricing strategy that is to be charged by them. It further focuses on market penetration and development to expand business by enlarging customers for maximisation of revenue, profitability ratios and market share (Eagle, 2019). This advertise goods and services by offering diversified products to their buyers through direct and indirect channelofdistributionforattractingthemtopurchasemorethatincreasesale.The organisation chosen for this assignment is Cadbury a British multinational confectionery which is entirely owned by Mondelez International form 2010. This project covers two activities in which the first activity analyse and evaluates thevital factors of marketing function and its relation with others functional areas of firm.Additionally, the second activity describes marketing mix to compare the organisational strategies with its rivalries and implement strategic management plan for the company. ACTIVITY 1 Covered in PPT ACTIVITY 2 MarketingMix:-Itrefersaframeworkthatinvolvesproduct,price,place, promotion, people, process and physical evidence. This isaprocedure which starts from production and ends with consumer service (Halpern, 2016).These elements of marketing mix play major role in promoting and positioning finished goods to its target market for maximising revenue, profits and market share. It is further described with reference to managers of Cadbury as compared to its rivalry for Nestle is as follows:- Marketing mix difference betweenCadbury and Nestle:- Marketing MixCadburyNestle Product:-This is defined as to develop new product in globalmarketwhichis capabletomeetneeds, desireandwantsof consumers. TheCadburyproducts consistsvarietiesof chocolateswhichare CadburyDairyMilk, Bournville, Dairy Milk Silk, 5-Star,Temptations,Perk, Éclairs, Celebrations, etc.It isbeneficialinproducing large quantity of goods that differs in relation with the The products of Nestle are babyfood,medicalfood, bottledwater,breakfast cereals,coffeeandtea, confectionary,dairy products, etc. The company isbeneficialbythese productsasthesehave capable to attract baby, kids, adults,older,etc.,to
taste and liking of buyers to meettheirnecessities (Holbrook, 2018). purchase more which leads to maximise revenue. Price:-The pricing strategy ofrespectivecommodities andservicesshouldbein accordancewithbuyers satisfactionandcompares withitsrivalriesthrough differentiatedprice.This resultintheabilityof customerswillingtopay moreforachievinghigh level of satisfaction. TheCadburyanalyseits pricingstrategyby identifyingtheexpense involvedinmanufacturing productforaddingthe profit-margin which will be charged by its customers.It plays a influencing rolein competing with its rivalries throughprovidingthem qualitativeproductsthat result inadvanced standards of contentmentfor its buyers so that they are readyto pay huge prices for the offerings of the brand. TheNestlefocuson penetrationpricingstrategy bymaintainitsleast-cost effectivenesspricefor enlargingconsumersby providing high satisfaction at minimum cost to meetthe expectations of buyers.It is necessaryfortheentityto maximiserevenueand profits while competing with competitorsas to sustain in competitive market. Place:-Itrefersasto supplycommoditiestoits targeted audience by direct andindirectmeansand platforms. This reduces the barriersandenablein offeringalltherequired productsandservicesto potentialconsumersthat result in increasing sales and profits. TheCadburydistributeits productbysupplyingit either online or offline stores whichreduceeffortsfor consumersbygoingat retailers that consumes more time, now they can receive it anywhere. The company are helpfulbyremovingthe blockages of distribution by reaching out to people and offeringthemallthe respective goods which are needed by them and matches withtheirtasteand preferenceoftheir customers (Hyder, 2016). Nestlefocusonindirect channel of distributionand make use of third parties and stakeholderstomake promotions such as through mouth publicity by existing consumers,manufacturers, supplierandothers.The entity leads and benefited by creatingopportunityfor supplierstodeterminethe behaviourofitstarget market by identifyingtheir non-verbalcommunications relatedwith gestureswhile purchasing the product. Promotion:-It is the ability ofproducerstocreate awarenessfor the offerings andgoodsthrough positioningtheirbrandto targetaudience.The promotionalactivities includespersonalselling, salespromotion, advertisement, etc., that are mostprobablyusedin currentscenarioatsocial mediabyproducersfor sellingtheirproductsto Cadbury induce its goods by severalpromotionaltools andonecommontoolis socialmediaandprint media.Itisgoodfor businessesthroughlow pricing strategy that enlarges consumersforenhancing their company market share. Nestle promotes its product through advertisement, sales promotion,etc.,which attractslargenumberof customerforencouraging themtopurchasetheir products.It also generated a loyal consumer base which enhancesthecompetitive positionofcompanyin competitive market.
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potentialbuyerandloyal customers. People:-This is one of the most important part of the businessbecauseitis internal core competence of business.Itincludesstaff members from bottom to top levelmembersofthe company. Peoples must be placed in organisation as per theirabilitytoperform actionthatresultsin supplyingqualitative products to customers. TheCadburycompany includeslargenumberof employeessuchas manufacturers,supervisor, sub-ordinates,employees, etc.Theyperformtheir actions with collaboration to achievesuccessby accomplishingorganisation goals and objectives. TheNestleconsistsof approximately291,000 peopleworkinginits organisation. It provides both on-the-jobandoff-the-job training for its workers as to train and develop their skills that lead to reduce mistakes whileperformingactivities andcreateopportunityto achievesuccessefficiently (Mohammadkazemi, 2015). Process:-Thisisthe procedureoftransforming raw materials into finished goods for distributing it to theirfinalconsumers.The buyers are also bound to pay forthedeliveryservice providedtothemthrough producers. The procedure of Cadbury is to provide input from raw materialthatisfurther transmittedinwork-in- progress and then converted tofinishedproduct.It isbeneficialwiththis processasitcreates opportunity for growth and stabilityofbusinessin economic sector. The Nestle perform certain activities to achieve its goals and objectives for competing with rivalriesthrough their competitivestrategies.The organisation is advantageous withthisprocedureasto performcertaintask specialisationinvarious departments. Physical evidence:-It refers toproducts and services that deliveredtopeoplemust havephysicalexistenceor evidence that will convince peopletomakepurchases and be satisfied Cadbury focus on physical evidencebymaking attractive and creative labels andpackagingwhich developsthesupportof consumers.Itis advantageousfor organisation to improve its totalqualitymanagement throughsixsigma,key performanceindicatorand benchmarkingthatenlarge consumers with loyalty. Thephysicalevidenceof Nestle is to sell its product withdistinctivecolour packagingthatiseasily identifiableatretailstores (Pappas, 2016). Strategic Marketing Plan:-This is defined as to develop strategy through strategic decision-makingprocedure of managers for planning innovative ideas to compete with rivalries (Pooler, 2018). Managers of Cadbury are positively affected by developing strategic marketing plan as to attract customers with new and differentiated product for their target market with the motive to achieve success. FeaturesExplanation VisionVision of Cadbury is to work together for creating brands people
love. The Barrow Cadbury trust's vision is being a peaceful, equitable society, free from discrimination and based on the principle of social justice for all. MissionTheCadburymissionstatementstatesthatCadburymeans quality, this is their promise to supply qualitative product to their customers. Our relations is built upon quality, our commitment to continuous improvement will ensure that our promise is delivered (Russell-Jones, 2014). ObjectivesThe objective of Cadbury is to develop differentiated product while exploiting it with a smart variety for achieving their profitable growth in confectionery and beverages. It further takes competitive advantage to increase their growth from quality and productivity (Srinivasan, 2016). Potential CustomersThe potential customers is further categorised on the basis of three types of target market which are mentioned below with reference to managers of Cadbury are as follows:- ï‚·Market Segmentation:-It is the process of segmenting whole market into small groups of customers in order to target them with their specialised demand for fulfilling theirdesire.Managersof Cadburydiscriminatetheir target market for focusing on their needs, desire and wantsofcustomerstoprovidethemhighlevelof satisfaction. ï‚·MarketTargeting:-Thisrefersastheabilityof producerstodevelopanewproductwithstrategic decision making procedure. The main aim for managers of Cadburyisto increasetheirsaleformaximising profits to sustain in global market. ï‚·MarketPositioning:-Itistheprocedureof manufacturerstoattractlargenumberofbuyersby promoting and positioning their product in their mind. Managers of Cadbury supply finished goods and services through direct and indirect channel of distribution in order to meet the requirement of customers. Market StrategyThe various types of market strategies implemented by managers of Cadbury to increase their competitive strategies for competing with rivalriessuch asNestle,Hershey, etc.Someof these strategies are as follows:- ï‚·Increase sale with 10% in 2022:-The main purpose of managersistoincreasetheirrevenueinfutureby providingcustomersatisfactionthroughsupplying qualitativegoods.ManagersofCadburyanalysethe change in taste and preference of their target market and producenewproductwiththeabilitytoachieve consumer equilibrium. ï‚·Maximise profits with 15% at 2021:-It is essential for an organisation to earn profit of 15% by developing their product with least-cost effective strategy. Managers of Cadbury are beneficial as they are capable to provide full satisfaction at which customers are ready to pay high
prices. TacticsSome of the tactics which are essential for business to develop their internal strength for controlling weakness and external opportunities to overcome threats are as follows:- ï‚·Able to utilise scarce resources:-This is the procedure through which managers emphasize on fully utilising theirscarceresourcesinordertoincreasetheir competitivestrategies.ManagersofCadburyare advantageousastheyincreaseintrinsicstrengthfor controllingweaknessandextrinsicopportunitiesto overcome threats for sustaining in global market. ï‚·Build employee relations:-It is the ability of producers to build employee relations through creating possibility for workers to share views and information that leads to develop trust and faith among one another. Managers of Cadbury are helpful as it emphasize workers to co- ordinatewitheachotherthroughengagementand involvement to perform their actions for accomplishment of specific target. For achieving the objectives manager of Cadbury can make a evaluation using elements of the marketing mix that involves 7Ps that can be shown below. ï‚·Product-Cadbury is one of the largest British multinational confectionery organisation that sales varieties of products such as dairy milk, Temptations, 5 star, Perk, Celebrations etc. but they want to enhance their market share for this they can mainly focus on the confectionery and beverages products with a organic flavours. ï‚·Price-As there are many competitors are present in the market like Hershey's, etc to beat them company can adopts the competitors base pricing strategy so that large number of new customers are attracted. ï‚·Place-Cadbury is the international company that deals in all over the world and due to this they can place everywhere vis online and offline mode so that people can easily reach to the company products according to their convenience. ï‚·Promotion-For promoting their modifying and innovative products in beverages and confectionery Cadbury can adopts the traditional and social media marketing tool in which they can promote and create awareness regarding the confectionery and beverages that they sale so that large number of people get attracted and company earn higher profits. ï‚·Process-Cadbury can adopts the online and offline process for selling and promoting their goods to the large base of customers so that high profits and revenues can be earned. ï‚·People-As manager of Cadbury can train their employees so that they can effectively solve the issues related to the customers this helps in enhancing the brand image of the company.
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ï‚·Physical evidence-Cadbury can focus on their packing of the beverages and confectionery so that customers are attracted form that and easily identified the company's products on the retail stores. CONCLUSION From the above discussion it have been concluded that marketing plays the major role in analysing the demand of consumers and promote and position products to attract large numbers of customers. The producers focus on new product developed by its competitors and availablesubstitutesofgoodsandservicesinperfectcompetitionmarket.Itfurther encourages entrepreneurs to develop strategic decision-making for planning that creates an opportunity for growth and stability of business in global market. This project covers two activities in which the first activity analyse and evaluates the key elements of marketing function such as product management, marketing information, pricing, promotion and selling. It further describes relationship between marketing and others functional units of organisation thatincludesmarketingwithproduction,sales,informationtechnology,researchand development. Additionally, the second activity describes marketing mix of product, price, place, promotion, people, process and physical evidence to compare strategies with its rivalries and implement strategic management plan for the company.
REFERENCES Books and journal Eagle, W., 2019.YouTube Marketing for dummies. John Wiley & Sons. Halpern, N., 2016. The marketing of small regional airports. InAir transport provision in remoter regions.(pp. 99-118). Routledge. Holbrook, M. B., 2018. Creating value: the theory and practice of marketing semiotics research. Hyder, S., 2016.The zen of social media marketing: An easier way to build credibility, generate buzz, and increase revenue. BenBella Books, Inc.. Mohammadkazemi, R., 2015. Sports marketing and social media. InHandbook of research on integrating social media into strategic marketing.(pp. 340-358). IGI Global. Pappas, N., 2016. Marketing strategies, perceived risks, and consumer trust in online buying behaviour.Journal of Retailing and Consumer Services.29. pp.92-103. Pooler, J. A., 2018.Demographic targeting: the essential role of population groups in retail marketing. Routledge. Russell-Jones, N., 2014.Marketing pocketbook. Management Pocketbooks. Srinivasan, R., 2016.International marketing. PHI Learning Pvt. Ltd..