The Nature and Importance of Marketing Mix in Marketing Process

This report discusses the importance of marketing mix in the marketing process and its application in the case of Cadbury. It explains the 4Ps of marketing mix and their theoretical explanation. The report also covers the product, price, place, and promotion strategies of Cadbury.

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the marketing mix within the marketing process
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Table of Contents
Introduction................................................................................................................................3
An explanation of marketing............................................................................................3
An explanation of marketing mix......................................................................................4
A brief theoretical explanation of 4Ps marketing mix......................................................4
Introduction of product/service.......................................................................................5
Application of 4Ps marketing mix to the selected product/service.................................5
Conclusion .................................................................................................................................7
References .................................................................................................................................7
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Introduction
In the current context, the globe is changing due to rapid technological advancements,
infrastructure, and human preferences. Because of the current world's developments, the
current market is also changing swiftly, including changes in research and development,
technology, and client preferences. Contemporary concerns are those that aid an organisation
in learning about the problems that current firms encounter in the field of marketing and how
to tackle them. Contemporary marketing issues are all-encompassing, improved, and
informative, presenting a rational grasp of content marketing issues. John Cadbury founded
the Cadbury Confectionery Company in 1824. Its market turnover in the United Kingdom has
climbed from 121.7 million to 122.3 million euros. And its pre-tax profit has risen from 258.3
million euros to 31.7 million euros. The marketing strategies, a quick explanation of the
marketing mix, a theoretical explanation of the 4Ps of marketing mix, and an introduction to
products and their types are all included in this report(Cuffy, Bakas, and Coetzee, 2020).
An explanation of marketing
It is an organisational function as well as a method for producing, conveying, and
transferring values to customers. Everywhere you look, marketing is present. Marketing aids
the business in establishing demand and profitability, which in turn aids in growing the firm's
brand value. Marketing provides data for analysing consumer behaviour. It allows you to
choose from a variety of sales promotion technologies. It aids in the standardisation of
company performance. Additionally, it aids in the achievement of the firm's objectives and
goals. The key marketing objectives that a firm wishes to achieve are the creation of client
demand through understanding their wants and needs. Another goal of marketing is to
increase a company's market share. In marketing, there are several types of segments such as
business to business and business to consumer marketing. B2B marketing is a type of
marketing that entails the exchange of goods and services between two businesses. For
instance, in terms of marketing, there is a belief that items are traded between retailers and
wholesalers. Another section is known as business to consumer; under this approach, the
business and the consumers exchange marketing information. This is about the exchange of
goods and services between retailers and customers.Digital marketing, associated marketing,
content marketing, event marketing, and international marketing are some of the sorts of
marketing that can help a firm increase its sales and brand value (Le Huong Linh, 2020) .
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An explanation of marketing mix
It is a highly useful notion that many businesses use to attain their objectives. Every
organization's principal goal is to gain or maximise future growth and profitability. It is a
crucial instrument that aids a business in presenting its product line (items and services) in
such a way that creates a favourable impression in the minds of their customers. An
organisation can use this tool to persuade people to buy their goods and services. Marketing
managers from various companies use this method to advertise and promote their items in a
market place where they can gain new customers. This aids in growing sales as well as the
company's brand value. Price, Promotion, Place, and Product are all parts of the marketing
mix. And to what extent are procedure, tangible evidence, and people included in the service
mix? Cadbury is a British global corporation with headquarters in London's uxbridege
district. Cadbury is regarded as one of the world's largest candy firms. The marketing mix of
one of the largest confectionery brands aids in the analysis of the company's strategies and
tactics for delivering cohesive content to its customers(Lien and Hong, 2020).
A brief theoretical explanation of 4Ps marketing mix
 Product - Any service or product that a company provides to its clients is referred to
as a product. It stands for "goods and services." In nature, it can be both tangible and
intangible. Customers' demands and needs are met by all of the items. To attract
customers, a company's product must be of high quality and priced reasonably.
 Price- It is the price paid for a product or service. It is known as the only revenue-
generating aspect of the marketing mix because of the customers' expectations to get a
product. A well-defined price for any product aids in the achievement of
organizational goals and supports product positioning.
 Place- The location is a geographic region where goods and services are made
available for purchase by customers. It is a significant part of the marketing mix.
Distribution channel, market coverage, assortment, location, inventory, and
transportation are all factors to consider. The distribution of items is a significant
marketing activity. For example, if a company manufactures goods to meet a
customer's needs and wants and markets them in the rural west of the United
Kingdom, the specific areas picked by the company for marketing will be known.
 Promotion- It is the action of promoting a company's products and services to
consumers. Advertisement, publicity, sales promotions, direct marketing, personal
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selling, and public relations are some of the strategies that can be used. It assists in
creating direct communication with customers. Product marketing aids in brand
rearrangement, brand valuation, increased product awareness, and the presentation of
product benefits. It also aids in the achievement of the company's goals and objectives
(Dixit, 2020).
Introduction of product/service
The product is launched to the market to satisfy the demands and needs of the clients.
A product serves as an introduction to a company. It is mostly carried out by the sales and
marketing division. This type of client response is frequently generated by marketers to aid in
the sale of a product. Customer-based and company-based products are available in both
tangible and intangible forms, as well as in the form of services. A final product can be
developed by skillfully combining raw materials with labour and technology to create a
company's identity. Cadbury is a subsidiary firm founded in London in 1824 by John
Cadbury. It is the world's largest manufacturer of various goods. It is well-known for its high
quality and distinct breaded flavour. Dairy milk chocolate, the creme egg and roses selection
box, and many other items are available. Cadbury makes a variety of chocolates such as
crunchie, double Decker, caramel, wispa, boost, flake, curly, and fudge. Cremes eggs are a
popular product during the New Year's season. Maynard and Halls are also owned by the
corporation(Thanh and Huong, 2020).
Application of 4Ps marketing mix to the selected product/service
Product
Cadbury is a multinational corporation that manufactures high-quality products and
offers a variety of product lines in the categories of chocolates, biscuits, ice creams, bars,
beverages, and desserts. Boost, Bournville, Flakes, Fudge, Roses, and other Cadbury items
are among of the most well-known. Cadbury is present on all seven continents (the leading
name of chocolate). The company's most popular product at the moment is dairy milk, which
comes in a variety of flavours and categories and is reasonably priced. Cadbury's most well-
known beverage product is Born Vita, which is the most popular choice among milk addicts.
During various festival seasons, its product is used as a sweet(Nart and Öztürk, 2021).
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Price
Cadbury is known for producing high-quality products at a low cost. It has offices all
over the world. Cadbury uses a premium pricing approach for several of its products in order
to provide high-quality goods. Cadbury silk, Bournville, and chocolate bars are examples of
high-priced products that apply the price skimming approach ( it is a strategy through which
large scale organisation charges highest base price from the customer and the lower it over a
period of time). Cadbury produces a variety of product sizes (in the form of chocolates, bars,
cookies, and so on) and offers cheaper prices on a variety of products, allowing it to appeal to
a wider range of customers. Cadbury's dairy milk chocolate is a well-known product at
reasonable costs. Cadbury produces a variety of celebration boxes for various festivals at
inexpensive rates that appeal to a wide range of customers. This aids in the increase of sales
during the festival season (Pitts and Zhang, 2020).
Place
Cadbury is a multinational confectionery company with a wide distribution network.
Its distribution network reaches not only the United Kingdom, but practically every country
on the planet. The products are available all over the world thanks to a redesigned distribution
system. The product is sold everywhere from supermarkets to convenience stores and
neighbourhood stores, as well as sweet shops. Cadbury is well-known for making its products
accessible to people living in rural areas. Its products are also available for purchase on the
internet. Because of its high production capacity, the product is available for purchase on a
variety of e-commerce platforms such as Amazon, Flipkart, Snapdeal, and others. Once a
large quantity of chocolate is produced, the corporation – C&F agency – distributors –
retailers – customers are the next phases in the process (Tracy, 2019).
Due to its high distribution costs, the product's cost is always high because it is supported by
demand.
Promotion
Cadbury is a confectionery company that makes chocolates, bars, desserts, and other
treats. It will take a large-scale promotion to make customers aware of the company's
products. Cadbury employs a variety of promotional techniques to attract customers and
enhance sales as well as brand value. Advertisement on television, radio, and print media are
among these approaches. It also use social media techniques to entice customers from various
demographics. Chocolates and biscuits are enjoyed by all ages, including children, adults, and
the elderly. Cadbury products had an impact on people of all ages. Cadbury's main goal is for
their goods to reach the greatest number of people possible and to bring enjoyment to their
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customers. Every year, a significant amount of money is spent on brand and product
advertising. Cadbury has been the subject of much criticism as a result of its campaign, but it
has also received numerous accolades for its finest advertisement. Cadbury's promotion is so
widespread that posters, banners, and hoardings can be found in tiny shops, hotels, and
corners (Zhilla and Shkira, 2018).
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Conclusion
Based on the information presented above, marketing is defined as a place where an
organisation introduces its products to clients in order to meet their wants and needs. And the
marketing mix is a strategy that a company use to influence the market. Product, pricing,
location, and promotion are the four components. A product is anything that a company can
give to the market, and the price at which it is sold is referred to as its price. The place where
the product is distributed is known as the market, and promotion is known as boosting the
product. It has been determined that Cadbury offers a variety of products at different costs,
has a large distribution network, and employs several marketing strategies.
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References
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(Cuffy, Bakas, and Coetzee, 2020) (Le Huong Linh, 2020) (Lien and Hong, 2020) (Dixit,
2020)(Thanh and Huong, 2020) (Pitts and Zhang, 2020) (Zhilla and Shkira, 2018) (Tracy,
2019)(Nart and Öztürk, 2021)
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