Literature Review on Marketing Research

The given assignment is a comprehensive literature review that covers various aspects of marketing research. It includes papers on the concept of 'marketing mix' and its elements, green marketing functions in building corporate image, strategic marketing planning for industrial firms, SWOT and AHP hybrid model for sport marketing outsourcing, and more. The review aims to provide an overview of existing studies and research in the field of marketing, making it a valuable resource for students and researchers.

Marketing essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key roles and responsibilities of marketing functions...........................................................1
P2 How Roles and responsibilities of marketing are interrelated with wider organisational
context.........................................................................................................................................4
TASK 2............................................................................................................................................5
P3 Define marketing mix of two different business organisations.............................................5
TASK 3............................................................................................................................................9
P4 Develop a basic marketing plan.............................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
In present scenario, marketing is known as most crucial task for every business
organisations as it is a key of market success of any product and services. Every product in
market can be sold only by proper marketing management, in this manner marketers are required
to plan each and every activity before selling products in market. An effective marketing
involves a process of demonstrating customers' demand for a product, motivating its sales and
disturbing it into ultimate consumption at a profit (Akroush, 2011). Cadbury is the chosen
organisation for completion of this research project; its a multinational confectionery company
which operates over 502 countries worldwide. The firm is known for chocolate, Creme egg, and
Roses selection box and further confectionery products. The present report will be discussed
different roles and responsibilities of marketing functions which are performed by each and
every marketer. Readers will also come to know interrelation between all departments of the firm
with overall corporation. Furthermore, marketing mix will be conducted of two different
companies which deals in same industry so as to make a comparison between their products and
pricing policies.
TASK 1
P1 Key roles and responsibilities of marketing functions
Marketing – It is study of management of exchange relations. It is acquired to generate,
keep and satisfy target audiences. Marketing is an activity of creating, interacting and delivering
a firm's offerings which are valuable and consumable for customers and society at large. It
involves advertising, dispensing and selling. Although marketing process is tend towards
carrying out a product at marketplace; it includes – wide market research, selection of target
market and then market segmentation (Brettel and et. al., 2011). In other words, marketing a
creative of arts.
Nature of marketing
 It is a dynamic process which can be changed or modified as per the market trends or
customers' preferences. Actually, marketing is complex, regular and interrelated activity
which focuses on continuous planning, proper execution and monitoring.
 Marketing is a system by which all units of business enterprise interact with each other so
as to accomplish its goals and objectives. Apart from this, marketing also supports a firm
to interact with its target audiences by having an objective to earn high profit margins.
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 Modern marketing describes how to design, develop and sell a product in market; it is
enough capable to control and guiding a corporate entity.
The core process of marketing perform several activities or procedures as goods and
services can effectively moved from manufacturer to target audiences. Marketing functions are
carried out by managers so as to operate their marketing system successfully and imperatively.
Roles and responsibilities of marketing functions Financing – In several business associations, most of the goods are sold-out to
distributors or retailers on credit not on cash. The finance function of marketing relates
with act of providing credit to whole sellers while it is required and trading costs as well.
Thus, the need of finance in marketing is to accomplish all activities in the best possible
manner (Civi and Persinger, 2011). It involves working and fixed capital that can be
generated through own funding of the firm, i.e. cash, bank loans, advance and trade
credit. An adequate financial management supports to spend maximum amount on
promotional and marketing campaigns. Risk taking – Any multinational corporation carries out several risks cause of
globalisation and intense market competition. Business risks can be loss of goods, fallen
in prices, due to spoilage, obsolescence, depreciation, fire, floods and theft. Whereas
sometimes due to unknown cause, i.e. slight defect in a product and quality issues in
bunches of goods are recalled. Government has also made up new regulatory goods while
selling manufacturing products. Thus, risk taking function of marketing management
helps in providing an estimation of unforeseen market risks that can be occurred in future
any time. In order to over come with market risks, Cadbury has made a risk management
plan so as to reduce the chance of maximum loss. Marketing information system – Getting timely market information is critical in product
development as well as growing sales. It is fundamental for marketing management to get
information regrading market expansion, intense competition, new entrants and
proliferation of products so as to attain business goals and objectives in the best possible
manner. Apart from this, marketing inform system also assistive to decide when, what
and how to sell, at what price (Dibb and Simkin, 2013). For this purpose, business firms
are hiring various service providers who are expertise in gathering, assessing and
interpreting data and facts. It helps marketers in developing an effective marketing plan.
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 Product designing and development – after getting information from market, helps in
developing product specifications and make it more effective. This marketing function is
associated with generating a new product and modify the existing one in order to satisfy
consumer' needs and wants. The process also involves getting qualitative raw material,
fabrication and prototype making; this will be worked out to develop a systematic
production planning. Therefore, it can be said that success of a product is depend upon
quality of raw material and several technological aspects. Standardisation and grading – Products which are provided by firm should be maintain
certain regulatory standards which are associated with safety, quality of raw materials,
product designing and other parameters. In UK, government has set certain specific
standards for selling food, beverages and other consumer related goods, here goods are
allowed only to be offered when they meet all standards or stringent requirements
(Gordon, 2012). Apart from this, product standards are being set on the basis of their
quality, quantity, design, flexibility and effectiveness. Pricing – This marketing function plays a vital role in attracting and retaining customers
for long term period; it increases customer lifetime value. Effective solution of a pricing
policy helps businesses in reducing customer churn and managing strong customer
relations. At the time of selling, price tends to be cost plus; it means price of the products
should be able to affordable among customers as well as also provide high profit margins
to them. In present scenario, business models are changed so that imperatively selection
of pricing strategies helps them in attaining high cutting edge from target market.
Furthermore, customers' not only want products they also consider several features while
doing this, i.e. when and how to buy.
 Physical distribution and transportation – The function encompasses with several
decisions regrading carrying out offerings from one place to another then make them
avail for customers. Different distribution channels are – transportation, warehousing,
inventory and order processing. Furthermore, it is quite impossible to produce, sale and
consume an item at one place (Hair and et. al., 2012). In this manner, distributing
products one place to another requires various transportation channels, i.e. airways,
waterways and roadways.
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P2 How Roles and responsibilities of marketing are interrelated with wider organisational
context
The modern aura of corporate world is getting competitive and typical, now it is not
possible for businesses to sustain effectively in an economy.
Finance department - Finance and marketing both are the key aspects on which growth
and success of a firm highly depends. Finance entails various financial aspects, i.e. profit,
feasibility of prices, costs, financial performance, working capital, sales growth etc. whereas
marketing is associated with sales targets, advertising, promotion, distribution channels, sales in
comparison with competitors, actual sales in a certain time period, data mining etc. Therefore, to
make a successful marketing it is essential for management to have a sufficient and strong
finance base through which firms can accomplish their goals and objectives which are associated
with marketing, i.e. selling price, sales targets, compensation of marketing executives, develop a
marketing planning and train employees accordingly (Hansson, Wrangmo and Solberg Søilen,
2013). All these activities requires high capital, Cadbury is a multinational leader of
confectionery brand it spends one third of annual profits on promotional and advertisements so
as to attract more and customers. Therefore, it is essential for marketing management team of
Cadbury to work as helping hand with finance department to tide over the crisis by rescheduling
payments and giving time to accomplish needs and wants of sellers.
Human resource management – It is the responsibility of human resource department of
the company is to hire an effective workforce that is able to perform all tasks and activities in the
best possible manner. The HR manager intends to improve skills and knowledge level of
workforce so as to improve their efficiencies and performance level in the best possible manner.
Along with this, marketing has a wide aura thus to complete all activities there is needed large
workforce. It results completion of all marketing activities systematically. HR managers also
focus on improving communication and interpersonal skills of employees as they can easily
influence customers to purchase products and services of the company. In addition to this,
Production department – The main purpose of production department is to ensure about
quality of finished goods so as to determine whether or not they are able to satisfy customers'
needs and wants. The person also obliges quality of raw materials that is being used for
producing outputs. In this manner, it is also necessary for marketing department of the company
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to ensure that all goods are properly tested and analysed on the basis of customers' feedback so
as to make necessary improvements.
Research and development department – The department is responsible for getting more
and more information from target market so as to know who are the target audiences and
competitors' selling strategy as well (Jain, 2013). This kind of information is really beneficial for
marketing department, in terms of producing products and services as per the customers' desires
and then satisfy them in the best possible manner.
TASK 2
P3 Define marketing mix of two different business organisations
Basis Cadbury Hershey's
Product The firm has a wide portfolio of
products of different varieties. It has
several cash cows which supports to
increase market share of the company,
Dairy milk, five star, Cadbury eclairs,
Bournville etc. Whereas in business
segments, Oreo is premium product.
Afterwards, in beverages there is
bournvita which is a market leader in
energy drinking. Thus, having a large
range of products help the company to
lead at market. On the other hand,
Cadbury is now trying to enter into ice-
cream segment so as to attract more and
more people (Khan, 2014). Further
products of the firm are – Dairy milk
fruit & nut, Caramel, Brunch Hazelnut,
Sundae,
Bytesm Creme egg, Black current
minim rolls, Pretzel etc. The business
Hershey's is a popular brand which
provides chocolates, syrups and other
sweet sauce. There is a wide range of
products which are offered by the
company in different size and shapes.
Although, the conical shape of
Hersheys kisses and innovative hand
rolled packaging in some products
adds to the appeal.
In this firm, management is always
focused on generating new and
innovative products in its marketing
mix which supports firm to grow and
diversify in target market. The product
range of the company involves –
chocolates (KitKat, Kisses, Hershey's,
Task5, York, Alomon Joy & Mounds),
candy (Allan Candy, Twizzlers and
Jolly Rancher), Nuts & Caramel
(Lancaster, Rolo) etc. whereas other
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association has made huge impact on
confectionery industry and continuously
growing with highest rate.
products which are offered by the
brand is – Nuggets, Extra Dark,
chocolate bars, 100 Calorie Bar,
Hershey's Miniatures etc.
Price The prices of the products are decide
according to their quality, it seems high
quality products are offered at high
range, i.e. Silk, Black current mini rolls,
whereas low quality products are
provided at low prices, i.e. Eclairs, Five
star and perk. In addition to this, the
pricing policy of the company depends
upon market competition and product
demand. The firm also provides an
option to customers that is size of the
products. The brand has strategically
placed its products in order to meet all
target segments. In festive seasons,
products price are increased to gain high
profitability and sales revenues, at this
products are placed effectively thus
people have an affinity to buy them.
As a premium brand, Hershey's
charges high prices of its products as
its chocolates consider high standards.
The firm is following premium pricing
policy so as to sell its products in
market (Ko, Hwang and Kim, 2013).
This pricing strategy maintain the price
level at consistently hiked rate and
targeting mostly upper class and
youngsters.
Place Products and services of Cadbury are
easily available over the globe. The
main reason as the firm has made global
market presence is its distribution
channel. Management ensure about
availability of products all over the
world and create large client base.
Presently, the firm is located in 200
Hershey's has a global market
presence, its products are easily
founded in grocery or general stores,
whole sale clubs, malls, departmental
stores. Vending machines etc. Apart
from this, people can also purchased its
products from online stores. The brand
has a wide distribution channel which
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countries it shows effective distribution
channels through which it can easily
reach numerous customers. Although,
Cadbury's products are available at
urban and rural areas but in rural areas
demand of products are also weak
(Larashati, Hudrasyah and Chandra,
2012).
Company >> C&F agent >> Distributors
>> Retailers >> Consumers.
The business association follows a
strategic supply chain to sell its products
to the end users of the company.
enables to reach it over many
countries. All major and metro cities
are covered by the company with its
distribution channels.
Promotion Everyone love sweets and Cadbury
provide delicious taste to people which
shows that the firm is highly customer
oriented. Although, promotion of each
product of Cadbury is different, i.e. for
Bournville the tag line – you don't buy
bounrville you earn it. While for
Cadbury Celebration positioning; it has
positioned itself is of gifting, On the
other side, promotion is done by the
company through television, newspaper,
radio, posters, online. Cadbury also has
a global market reach on social media
platforms; it organises several quiz in
order to attain and retain customers for
long term period.
Hershey's promotes itself through Bill
boards, Magazine ads and television.
The main objective of the brand is to
create delicious taste of chocolate
which is enjoyed by everyone.
In its promotion campaigns, the brand
also expose its chocolate making
process and provide taste free sample
to people and know their response
towards the same (Lee and et., al.,
2013). There are several promotional
techniques, i.e. 4D chocolate mystery
and trolley tours helps to define
chocolate story to everyone.
Physical The brand has recorded all of its In context of physical evidence,
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evidence experiences that are attained by physical
questioning, purchasing behaviour of
customers and providing the guidelines
of the products and services. The brand
also provides pamphlets and brochures
to customers while purchasing at stores.
Apart from this, the logo of the company
represent chocolates are made with pure
milk.
Hershey's has a great customer
experience which tells everyone about
its presence in market.
The firm organises various
communication tactics, i.e.
questionnaire and surveys so as to
know customers' respond towards the
brand. It also focuses on providing
attractive discounts with every
product ; it helps in attaining large
group of customers for long term
period.
Process The distribution process of the company
is flexible in nature which is clearly
visible to customer. The organises
various meetings so as to interact with
target audiences and then discuss with
them the entire production process (Lee
and Walsh, 2011).
Apart from this, Cadbury also keeps
record of all procedures, i.e. methods
which are being used in manufacturing
of products and services.
It also keep past data in order to know
customers' needs and wants and
recognise that whether customers are
informed with firm's marketing policies
or not.
The firm believes to sell indirectly its
products and services; it helps in
gaining high competitive edge to the
company.
Although, entire production process of
the company is clearly visible among
customers on official website of
Hershey's; it builds customers loyalty
and faith towards the brand.
People People who are associated in performing
business activities plays a vital role in
As a global leading brand, Hershey's is
always focused on improving
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establishing a brand very effectively.
They are involved in recognising market
competition, customers' needs and other
aspects which can affect brand image of
the company. In context of buyers, as a
customer centric firm Cadbury always
focused on fulfilling needs and wants of
its target audiences in the best possible
manner.
employee and client base of the
company (Malhotra, Birks and Wills,
2013).
In order to improve its customers'
services, management of the firm
believes to provide actual or proper
information to customers.
TASK 3
P4 Develop a basic marketing plan
Marketing planning – It is one of the important part of marketing management.
Marketing planning relates with thinking and creating those activities which are required to
accomplish desired goals and objectives. Basically, it means to decide what to in future to reach
existing position from desired position (Mummalaneni, 2014). Along with this, marketing
planning linked with determining various resources which helps to attain and retain large group
of customers and allocate the same to meet this objective.
Following are the main steps which are getting involved in marketing planning process -
Introduction of the company – Cadbury is known as one of the best known and
successful British brand of exporting confectionery products. The firm was established in 1824,
who sells tea, coffee and drinking chocolate beverages. The brand has been merged with
Schweppes in 1969 in order to expand its market area and growth. Along with this, the firm is
manufactured various confectionery products, such as – chocolates, beverages, snacks, candy
etc. in which Dairy Milk was the first best seller among all of this chocolate inventions. It shows
Cadbury has wide presence in global market by having a share of 70% worldwide in which
Dairy-milk is lonely accounted for 30% market share. There are over 72000 employees are
currently working the brand
Vision and mission – The mission statement of the company is to deliver quality
products as this will market reputation; firm has committed towards making continuous
improvements in its production process it will ensure to fulfil promises (Ogunmokun and Tang,
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2012). Apart from this, the vision statement of the company is to be peaceful, develop an
equitable society which is free from all discriminations and run upon the principles of social
justice for all.
Situational analysis – It can be done through SWOT analysis of the company: -
Strength
The organisation has a high brand equity and
consider at top of mind while demanding
chocolates.
Strong market presence helps to recall
customers and build loyalty and trust among
people.
There are over 70000 employees are currently
working it and the firm focuses on providing
training and development assistance to entire
workforce as they can perform in better
manner.
Strong in innovation and research activities;
Cadbury always come up with delicious taste
in market.
Weaknesses
Few controversies regarding worms and
advertising of the company affected its market
image over the world.
In past decades, there has been made question
regarding quality of products in which
cockroaches had been found in chocolates.
This was totally inexcusable for the brand
(Opute, Dedoussis and Tzokas, 2011).
Opportunities
Now Cadbury is penetrating in rural markets
and selling in rural markets which can be great
opportunity for the company.
Diversification in product range into food
related segments helps in flourishing the
company in an effective manner.
Acquiring competition will boost up market
dominance.
Threats
Increasing cost of raw materials whereas
inflation reduces sales of Cadbury.
Due to fierce market competition with national
and international chocolate brand can affect
market share price of the company.
Identification of marketing strategy – The firm involves segmentation, targeting and
positioning in its marketing strategy. In which segmentation of goods is based upon marketing
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mix of demographics and behavioural factors, i.e. income and occasions. It is founded that
Cadbury targets people of all age groups who loves to enjoy its products. Along with this,
product offerings are based upon packaging designs, occasional demands and storage facilities
(Tariq, 2013). The firm also has distinguished its goods for specific class of people, i.e.
Temptations and Bournville are designed for upper middle class people are are able to pay more
whereas Silk is designed for those people who cant resists chocolates. For introducing its
products and services in market, the firm considered elements of marketing mix, such as –
product, price, place, promotion etc.
Marketing budget – Following is defined marketing budget of Cadbury: -
Particulars Amount
Initial money 15000
Investment 14200
Total 29200
Marketing expenditures
Advertisement 5000
sales promotion 2000
Direct marketing 3000
Total 10000
Available balance 19200
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CONCLUSION
From the above mentioned report, it get analysed that marketing plays a crucial role in
growth and success of business association; it results they will easily accomplish organisational
goals and objectives in a certain time period. The core concept of marketing is tend towards
promoting firm's products and services so as customer get aware about its offerings. Along with
this, the main marketing functions are – financing, risk taking, standardising or testing, market
information system, promotion, pricing etc. In order to accomplish all these activities in an
effective manner, it is essential for marketers to work cooperatively with other functional units.
On the other hand, marketing mix tactics is based upon seven elements, such as – product, price,
place, promotion, people, process and physical evidence. It is fundamental for Cadbury to
develop a marketing plan in order to forecast sales and profit margins.
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REFERENCES
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Empirical Assessment of their Generalisability, Applicability and Effect on
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