Marketing Essentials Essay of Cadbury
Added on 2020-07-23
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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of marketing functions ..........................................................1P2 Interrelation of marketing department with other functions .................................................3TASK 3............................................................................................................................................6P3 7P's of marketing of Cadbury and Nestle..............................................................................6TASK 4............................................................................................................................................9P4 Basic marketing plan for Cadbury........................................................................................9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing is termed as collection of activities which are undertaken by a company inorder to relate profits to market. Basically, it is a process which assists in exchange of productsand services can be viewed as an integral part of socio-economic system that renders aframework to a business association. Along with this, marketing involves those workingactivities and operations that can affect existing as well as potential demand of products and alsoconcerned with physical distribution of goods to their end users (Armstrong and et. al., 2015).But before introducing a new product in capital market, management is required to understandthe overall structure of society so as to achieve high competitive edge. The present assignment isbased upon Cadbury which is one of the leading multinational confectionery industry. Cadbury isa second largest brand in this industry. The firm was founded in 1824 and there are over 72000employees are currently working with it. Apart from this, the report will describe roles andresponsibilities of marketing functions and their interrelation with overall organisational context.Furthermore, there will be define marketing mix of two different business associations and thereis produce a basic marketing plan for accomplishing business goals and objectives. TASK 1P1 Key roles and responsibilities of marketing functions The term marketing covers various activities and operations that are associated withselling firm's offerings to its target audiences. Advertising and promotional are the mainmarketing activities but for this management requires to conduct a consumer research so as toattain higher customer satisfaction level. But marketing concept is not only associated with fulfildemands but also generate demands. By this medium, goods and services are carried out to placeof consumption with an aim to satisfies customers' needs and desires. Subsequent activities areundertaken in appreciate of the exchange of products and offerings (Askeland and Wright, 2013).Business owners and marketers share one common threat, that is generate more and moreconsumers and make money. In present scenario, companies are adopted quality marketing so asto increase traffic on their websites; it involves blogging, webinars, visual contents, white papersetc. it sets new standards of marketing. Marketing approaches, efforts and messages are regularlydeveloping. In this manner, instead on changing products as per the firms have to change altertheir marketing strategies in order to flourish a product across the society. 1
Nature of marketing: - The prime motive of marketing is to attain and retain customers' interest so as to create aneffective brand image. It can be done by using billboards as well as print ads; in modernera firms are also using internet marketing via social media. Another purpose of marketing is to improve brand image of the company, brand nameacts as a foundation for entire firm. If a company does not have unique or clear idea thenit is tough to attain and retain customers for long term period (Babin and Zikmund,2015). Marketing also assists people to engage with target audiences so as to make necessaryconversations with them. For this purpose, companies are tend to acquire all social mediachannels and monitoring as well as responding to all comments. It shows how customers'will think about the products or offerings of the firm. Roles and responsibilities of marketing functions: -Financing – It is one of the most significant function for marketing as certain amount ofcapital is required in order to manage inventories and delivering effective marketingservices. To reach their target and potential customers, marketers uses severalpromotional channels which needs maximum finance. Finance can be generated throughtwo sources, i.e. owned capital and borrowed capital. Along with this, manufactures alsorequire capital to sustain goods while demand anticipation; they also sale on credit toretailers. Whereas middleman requires finance for keeping maximum quantity of goods(Blacher-Wilson, Mense and Richardson, 2011) Buying and selling – Buying is one of the foremost function of marketing; its a procedureof executing goods at right place, at right time and place as well. It is done by directly orby a middleman. Various manufacturing firms buys inputs in order to transact them intoproducts. On the other hand, selling is the heart of marketing and it is comprises with allpersonal and impersonal activities, such as- securing, finding and generating demandamong customers regarding products and services. Due to manifold enhancement inproduction, selling of goods on a profitable prices is one of the main problem withproducer. Marketing information system – The core concept of marketing starts with collecting andanalysing marketing information so as to make important business decisions. In Cadbury,2
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