Marketing Essentials Assignment: Cadbury Plc
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Added on 2021-02-21
Marketing Essentials Assignment: Cadbury Plc
Added on 2021-02-21
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MARKETING ESSENTIALSTable of Contents...................................................................................................................................................................1MARKETING ESSENTIALS..................................................................................................................1LO1............................................................................................................................................................4
P1 The key roles and responsibilities of marketing function are..........................................................4P2 Roles and responsibilities of marketing relate to the wider organizational structure......................7LO 2...........................................................................................................................................................9P3 Comparison of marketing mix of NESTLE and CADBURY.........................................................9L O 3.........................................................................................................................................................14P 4Produce and evaluate a basic marketing plan for Cadbury............................................................14CONCLUSION........................................................................................................................................17REFERENCES.........................................................................................................................................17INTRODUCTIONMarketing is a tool to make the product of the company available in the market. It includes marketresearch and promoting the new product to the current market. Marketing basically means selling the
company's product or services. For growth and development marketing is an essential factor. Effectivemarketing plays a significant role in the company's success. Cadbury is a British company founded in 1824 headquartered in London. Cadbury is best known for itsdairy milk product. It is currently operating in more than 50 countries worldwide. Cadbury is nowlaunching a new product (cadbury wafers). The company will develop four different flavors of thewafers. It is developed after the analysis of target market and their preferences. Organizationspromotional strategy will target children as they are influence by such products. And as companyalready has a brand name, just little efforts in promoting the product will help in increasing sales.The study includes the roles and responsibility of the marketing function like analysis of market,developing the product, advertising and promoting the product. Further the study includes ancomparison in between Cadbury and nestle on the marketing-mix of the organizations and it help therespective company to achieve their goals. And finally a marketing plan has been introduced forCadbury wafers, a new product company is going to launch.
LO1P1 The key roles and responsibilities of marketing function are1.Market research- First and foremost, marketing function begins with gathering and analysingthe information available in the market. It is important for every company in order to identifythe needs and wants of customers. Cadbury also analyses the recent trends in the market andwhat are the customer's expectations and develop the product accordingly.Role of marketing in market research-Better understanding of customers- Market research helps in better understanding of the needs andwants of customers (Jha, Saini and Kaur, 2017). This can be only done with the help of marketingfunction and for Multi national companies like Cadbury, market research is imperative as it helps themin achieving competitive advantage by understanding customers better.Testing of products prior to their launch- The research function of marketing helps in testing theproducts prior to their launch and this further helps the company to take future decisions regardinglaunching the product. Cadbury regularly tests its products through market research and it gives themconfidence whether their product will connect with the customers or not. This also saves the company alot of money.Growth of business- Market research not only helps in saving money but also leads to continuousbusiness growth as continuous research helps in detecting more business opportunities and identify thepotential threats to the company.2.Marketing Planning- The second function of marketing involve planning. It helps Cadbury inpreparing a blue print of the company. It helps the company in planning production, distributionchannels, transportation and sales. The company also makes plans for increase in turnover,achieving economies of scale and ways to increase the market share.Role of marketing in market planning-Minimization of future uncertainties- Proper and efficient planning has helped Cadbury in identifyingthe potential road blocks in its way. This has further helped the company in preparing counter plans toovercome the road blocks. Also, planning bridges the gap between where we are and where we want toreach. This is the reason that Cadbury has paved its part to the success by minimizing future risks anduncertainties (Choi, 2018).Improved efficiency- Marketing plan has improved the productivity of Cadbury by leaps and bounds
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