The assignment discusses the importance of marketing in enhancing sales and profitability ratios. It highlights the use of marketing strategies such as targeting, positioning, execution, and evaluation by Cadbury to achieve its set targets. The document also provides references from various books and journals that support the discussion.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Marketing Essentials
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTRODUCTION.......................................................................................................................................2 TASK 1.......................................................................................................................................................2 P1 Major roles and responsibilities of marketing function.......................................................................2 P2 Roles and Responsibilities of marketing relate to organization..........................................................4 TASK 2.......................................................................................................................................................6 P3 Application of marketing mix to marketing planning for achieve business objectives.......................6 TASK 3.......................................................................................................................................................9 P4 Evaluation of marketing plan of Cadbury..........................................................................................9 CONCLUSION.........................................................................................................................................11 REFERENCES..........................................................................................................................................12 INTRODUCTION.....................................................................................................................................14
INTRODUCTION Marketing functions are defined as one of the important role of business as they are helpful in order to promote the goods at market place so that people can be aware about the products thus enhancing sales and profitability of firms. The main functions of marketing are linked with research about marketing, process of development, planning of products, promotion, sales of goods and effective customer services. The functions of marketing are also beneficial in order to achieve the set goals and objectives of firms in most effectual and planned manner.(Al- Ekam,. and et. al., 2012)Marketing is always defined as the exchange process in which seller sell goods to customers in exchange of monetary values. Overall marketing plays a very vital role in every business organization in order to expand the business operations all around the globe. In this report Cadbury is the chosen organization which is a multinational British Confectionary brand around the globe. There is discussion about roles and responsibilities of marketing function, interrelationsof different marketing functions The marketing mix are also described which is an most important tool in order achieve set business goals and objectives. TASK 1 P1 Major roles and responsibilities of marketing function Marketing plays an important role in order to develop awareness about products and services at market place. There are different types of communication channel adopted by firms by which they can easily promote their products at market areas and customers can purchase them thus enhancing their sales volume.The marketing department should perform all their roles and responsibilities in effective and planned manner as it results in growth and success of business and they will easily enhance their sales index. Major roles of marketing department are products, price, promotion of goods, selling, distribution through different channels, information system, financing and these are evaluated below as: Product: These are described as those factors which are tangible by nature every business is focused towards manufacturing products and they are selling it to their targeted customers thus satisfying their needs and wants and enhancing their sales index. In order to attract large number of customers firms offer different types of discounts in order to gain attention and retain them for long time durations. There should be alteration made in the products according to need and wants of customers so as to establish strong image at market place. The marketing manager is having the responsibility in order to carry out research and development activities so they can easily analyse trends at market and accordingly they can offer products to customers. There are also factors identified which are influencing customers in order to buy customers products such as discounts, buy one get one free etc. Manager who has the marketing responsibility also analyse trends, behavior and attitude of people so they can sell products to their potential customers.
Cadbury is having the responsibility in order to achieve the sales target and achieve higher market shares by selling their products to their potential customers. Financing: This factor is described as the blood cell of every business organization as they are having the major responsibility in order to arrange funds for executing all promotional activities so that company can establish strong images at market places. There should be plans developed in order to make proper analyse of the available funds and divide them according to activities so that firms will not face any type of difficulty while executing promotional activities. If there is proper evaluation of all activities then Manager can easily conduct different promotional campaigns in order to attract customers and expand there business operations all around the globe. Cadbury have develop plans and they are assigning funds to different departments in order to achieve efficiencies in their operations. Pricing: Price is the most important factor for all business organization as it helps in attracting customers so they will buy their products thus enhancing their sales index. Price is described as those aspect in which seller sold their goods to the customers in exchange of monetary values. Marketing manger should analyse all the factors and then he should decide the final price of the product because this is the vital factor for each firms in order to increase footfalls of customers. Cadbury have executed economical pricing for their products in order to capture attention of customers and they will be influenced in order to buy the products (Baker and Magnini, 2016). There should be proper analysis of the pricing strategies which are adopted by the competitors as this is the most important factor which helps in retaining loyal customers who will buy their products. All these factors are beneficial in order to set right prices of the products which results in gaining attention of customers and achieve competitive advantages. Management and Information System: In this modern era needs and wants of customers are constantly changing at market place thus the most vital factor is linked with anlysing the trends at market place and according manufacture their products which helps in satisfying needs and wants of customers. There are different types of research and development activities carried out which are beneficial in order to understand needs and wants of customers so they can be attracted towards the products which are offered by firms. The information systems are helpful for firms in order to collect information, analyze them and store the data collected of customers at safe place so they can be used in future time in order to send messages to people giving information about their new products. The information system are also valuable in order to analyse the data so that mangers can take effective decisions which are beneficial for firms. Promotion: This is the prime function of marketing as firms are concerned about promotion of their products so that people can be aware and this results in maximizing their overall sales and profitability ratios. The marketing department is famous for its promotional campaign thus establishing a strong position at market place. Marketing managers are mainly focused towards making plans and policies in order to use the best channel of communication so
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
that people will be aware about the new offers in products. This is valuable factor as it encourages people to buy the products and increase their profitability ratios. Selling: There are different types of plans and strategies formulated by firms in order to maximize the overall sales of firms. Marketing manager collect informationby analyzing different channels which are used for selling products so that more number of customers can be attracted towards the offered products and services of Nestle. Managers are assigning sales targets to their employees in order to enhance their sales ratios and achieve profitability in their business operations. This is the most important factor as it helps in analyzing the total volume of sales ratios so that Cadbury can develop plans in order to maximize their sales ratios if they are not enhanced. Distribution: This is described as the process in which goods are being transformed from warehouse to retail stores in order to offer them to the final customers. Managers are using different modes in order to execute their distribution process. The responsible authority should analyze the cost and effectiveness of different channels and choosing the best among them which are effective. If those channels of distribution are chosen which are effectivethen it helps in savingcostand timeof companythusitresultsinenhancing effectivenessofbusiness operations. All the factors which are described above are the major roles and responsibilities of marketing in order to promote the products at market areas. Cadbury is mainly focused towards their marketing operations in order to carry out promotional campaigns thus they can sustain their image for long time durations. Thus these are the best tool by which firm can earn high profitability by achieving its targets. P2 Roles and Responsibilities of marketing relate toorganization As there is high competition in the economy so firms are mainly focused towards selling quality products and services to the customers in order to retain their loyalty thus enhancing their overall sales and profitability ratios. Firms are offering products to customers at very economical prices in relation to their competitors (Dibband Simkin, 2013) As there are large number of products available with customers so it is most important factor to gain attention of customers so they will buy the products. Marketing plays an important role if firm wants to expand their business operations all around the globe. The roles and responsibilities of marketing with other department are evaluated below as: Marketing and Operation Department:The operation functions are directly linked with the production department of Cadbury. Thus the production department should focus on providing quality products to their customers in order to retain their loyal and enhance their overall profitability ratios. This results in achieving sustainable business positions at market place. On the other hand the authority of marketing department has the responsibility in order to utilize all the resources which are available in the economy in most effectual and planned manner. This results in achieving efficiencies in all business activities.
Finance and Marketing function: Finance is the most important function as they are arranging funds in order to carry out promotional campaign or other activities of business. This is beneficial for firms in order to carry out all the operations according to set business plans. The marketing manager of Cadbury should have sufficient money in order to carry out the operations thus they will attain growth and success in their operations. The marketing department should coordinate with the finance department in order to arrange money for their promotional campaigns thus enhancing their sales and profitability ratios. There should be proper decision made about the activities which will help them in enhancing their sales volume so they can achieve success in their ventures. Research and Development with marketing Functions: In this modern era the taste and preferences of customers are constantly changing thus there is need of carrying out research in order to know the taste and preferences of customers and accordingly they can manufacture products which are according to customer demand. This is the most vital department as it helps in collecting information’s which are useful for taking decisions. This is an important factor in order to make alterations in goods and services according to the trends at market place. Marketing and Human Resource Department: Employees are the most important part of every business organization as they are helps in offering goods to customers according to their requirements thus enhancing efficiencies of firms. Cadbury have developed plans in order to recruit skill and talented employees who will manufacture quality products according to customer needs. This helps in making effective relations with customers thus retaining them for long time durations and they will not buy the products from their competitors. Marketing and Information Technology Department: In this modern world business are focused towards implementing digital technologies at work place which helps in gaining attention of customers (Draelos, 2010). IT departments are beneficial in order to provide goods to customers without visiting to retail stores and they will not waste their precious time by visiting to thesestores.Marketingisinterlinedwiththisdepartmentasthey can create advertisement about there products on different software and also animated designed and graphics can be placed in the advertisement which results in enhancing the capturing attention of customers and they will be influenced to buy the products. There can also be information saved about customers which can be used for making them aware about different offers and also mangers can take decisions which are useful for them in order to expand the operations all around the globe All these discussed above are the important departments and they perform an important function which are beneficial in order to achieve the set business goals and objectives in most effectual and planned manner. All the function which are performed by these department are interlinked with one another. The marketing manager of Cadbury have to formulate plans and policies in order to promote their goods at market areas. There had to be strategies developed in order to provide good quality products to their loyal customers so they can easily expand their
business operations. Thereafter there had to be cooperation made among all the business departments as it helps in enhancing efficiencies of business and achieve their set business objectives. TASK 2 P3 Application of marketing mix to marketing planning for achieve business objectives Marketing mix is the combination of different elements which are known as product, price, place, people, promotion and physical evidence. Each firm is focusing on this concept in order to achieve their set goals and targets and also achieve efficiencies in their working operations. One of the major importance of marketing mix is linked with maximizing the sales profitability thus enhancing individuals in order to buy the offered products. The application of marketing element are different for every business but the most vital factor is related with applying all the 7 factors in planned and effectual manner. The applications of different factors of marketing are evaluated below as: BasisCadburyHersheys ProductThe products of Cadbury are very richandtheyareavailableall around the globe. They are dealing in various goods such as chocolate, biscuits, milk products etc. They are providing quality products to all their customers thus they have sustainedstrongimageandare classifiedamongtheleadersin their production. There products are mostly famous for chocolate syrup andsweetdishes.Their productsareavailablein varioussizes,shapesand packing. They are offering healthyandnutrition products to their customers so it does not affect their health status. PriceThe firms have adopted effective marketingstrategyandtheyare charginghighpricesforthose products which are rich in nutrition suchasOreo,Bournvitaetc. Thereafter they have made policies in which there goods are also sold at economical prices so people can Hersheys are also offering goodsatcomparatively higher prices as compared to thecompetitorsthusthey are also classified under the premium brands. The firms are mainly targeting people ofmiddleclasswhocan
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
easilypurchasethemthus enhancing their profitability index. easilybuythereproducts. The average pricesof the products which are offered by firms are between $20 to $55 PlaceThe biggest strong point of firm is that they are offering products to customersthroughthemost effectivechannelofdistribution. TheproductsofCadburyare available at any place all around theglobeandtheyarehighly demanded by customer due to their quality. On the other hand there demandarenothigherinrural areas but then also there overall sales are much higher then there competitors. The local retailers are alsomuchbenefitedfromthere products. The goods of Hersheys are availableonvarious groceryandretailstores. Thefirmareoffering productstocustomers throughdifferentmodes suchasonlineretailing stores,vendingmachines etc. Thus there presence are available in popular locality almost all around the world. PromotionCadburyhaveusedeffective marketingstrategyfortheir productsinordertocapture attentionofcustomers.The marketingofproductsincludes celebrity in order to sustain large amount of customers. The brand recognitionofCadburyismuch higherduetotheirBusinessto customermarketingpolicies.At thistimeeverypersonbuys The firm are using different modes of advertisement in ordertopromotetheir goods. Such as billboards, magazines,onlineportals etcithelpsincapturing attention of customers thus therefootfallswillbe increased. The major focus of firm is to develop tasty, flavouredandhealthy
Cadburychocolatesduetotheir quality. chocolates so they will be enjoythuswillhavethe desire to buy the products againthiswillhelpin enhancing their profitability ratios.Theyhavealso launchedanewproduct whichisknownasMilk Booster which is mainly for smallkidswhoareat growing stage. PeopleIn every business employees are the major blood cell for effectively running of all business operations. Theyarethepersonswhoare achievingthesetbusiness objectives by working according to the set plans thus satisfying needs andwantsofalltheirpotential customers.Cadburyareusing strategieswhichareusefulfor employees as they can utilize their skill and capabilities in order to manufacture goods. Hersheyhaverecruited talented employees who are developingnewand innovative ideas in order to attractlargenumberof customerswhowillbuy thereproducts.Theyhave achieved competitive gains thus they can profitability in their operations. ProcessCadburyhaveformulatedan effective manufacturing process of chocolates considering quality and tasteofproducts.Thisisan valuable factor as it helps in saving bothtimeandcostinvolvedin business operations. Hersheys are also following differentstepinorderto manufacturetheirfinal goods. They are focused on satisfying needs and wants ofcustomersbyoffering them healthy products
Physical EvidenceCadbury have also made plans in ordertoreviewabouttheir products from customers. This is an important factor for managers inordertoanalyzethoseareas where improvements have to be madesotheycansatisfytheir customers thus their profits will be maximized. Hersheysaremainly focusedcustorganizing researchanddevelopment activitiesinordertoadd new and innovative features intheirproductsthus influencingcustomersto buy their products. TASK 3 P4 Evaluation of marketing plan of Cadbury Marketing plans are linked with achieving set business goals and objectives in desired time that have been formulated for them. There are various promotional activities carried out in order to achieve the set business goals thus gaining attention of customers. The marketing documents are helpful in identifying the position of company at market place. The plans are developed in formal structures in order to ensure flexibility in all their working operations. The important function of business is related with development of effective plans so that business which achieve success in their operations (Eslinger, 2014). There should be planning in order to achieve the objectives so employees will not face any type of difficulty while performing their operations. Before developing plans Managers are doing research in order to analyze their target customers then accordingly identify their needs and accordingly serve products to them which are beneficial. One of the important advantages of plans are that they are helpful in order to utilize all the resources and funds which are available in the economy in most effectual and planned manner. Managers should identify strengths and weakness of business in order to achieve loyal customers. The major factors which are to be considered while formulating marketing plan of Cadbury are evaluated below as: Overview of Cadbury:The firm is mainly dealing in manufacturing Confectionary products. They have expanded their product line in chocolates, biscuits, drinks, bars, candies etc. They products are recognized by people all around the globe. They have recruited large number of skill and talented employees who are working under them and developing new and innovative ideas by which they can easily expand their business operations. Vision of Cadbury: Vision is reflected as those areas where firms wants to place themselves in future times. This is an vital factor as it is affecting the set aims and objectives of
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
business thus mangers should properly analyze the vision statement of firms. One of the most important factor of vision is that it helps in providing direction to employees according to which they have to carry out all their business operations thus they can easily achieve their set targets. The vision of Cadbury is linked with working together and manufacture brands which people will love and enjoy. Mission : The mission objective describes the major objectives for which firms are running their operations. The main mission statement of Cadbury is they are offering quality products to customers and this is the main promise made by them. The image of firms are mainly dependent on the quality products which they offer to there customers. Objectives and Goals of Cadbury: There are various plans and policies formulated by Cadbury in order to achieve their predetermined goals thus achieving the position of becoming number 1 and best Confectionary brand all around the globe. The Managers of Cadbury should have proper knowledge about the mission and vision of firms so they can develop plans and policies which are beneficial in order to make effective decisions and achieve effective results. Thereafter SWOT Analysis is carried out which is beneficial in order to achieve effective results. Marketing budget Particulars1st year2nd year3rd year4th year5th year Initial money500009000240003000015000 Investment21000240003000025000 Total5000030000480006000040000 Marketing expenditures Advertisement10008000300080005000 Sales promotion20006000300070005000 Direct marketing90008000300050008000 Total120002200090002000018000 Available balance380008000390004000022000
SWOT Analysis of Cadbury Strength:Themajorstrengthoffirmisthattheyareattheleadingpositionin manufacturing chocolates. Cadbury is at the second largest brand in confectionary afterMars. Presence and they are running their business operations in almost 195 countries all around the globe. There is effective channel of distribution which helps in easily reaching the products to their potential customers (Hsu,2011). They have developed effective portfolio as they are offering their goods to large number of customers. The products are of high quality thus there cost is also relatively higher. They are selling more then 40 goods which results in earning high profits. Weakness: Cadbury is not having effective channel of distributing goods in rural areas and there were certain case related to the quality of the products which they offer to customers this results in decreasing their market shares. Opportunity: Cadbury is having the opportunity as they can easily explore their business operations in Rural areas. This is an important factor as firm will earn high profits. Firm should develop innovative ideas in order to add new flavors in products which helps in attracting large number of customers. Threats: As customers in this modern era are more concerned about their healththus there is downfall in sales of their products while making comparison with past time. Customers are mostly preferring healthy drinks which will not harm there body. If there is increase in the prices of goods then it results in losing their potential customers. STP of Cadbury Segmentation:Under this factor the overall population is divided among small groups and they all are sharing a similar feature. This helps in easily reaching towards their targeted clients. Targeting:Thefirmhavedifferentiatedtheirgoodsaccordingtothechoicesof customers. The products of Cadbury such as Bourneville are only purchased by people of higher status. Positioning: The punch line of Cadbury is the Real and sweet taste this is mainly used in order to position the goods in minds of customers and they will be influenced to buy them. This helps in enhancing profitability index of firms. They are making changes in their products according to customer demand which helps in satisfying their need. Execution: All the strategies are formulated in order to achieve the predetermined aims as to attract large number of customers towards their products.
Evaluation: All the plans, strategies and policies formulated by firms are properly examined so there can be improvements made in products and there sales and profitability will not be enhanced. CONCLUSION From the above business reports it is evaluated that marketing plays an important role in order to make customers aware about the goods sold by them thus enhancing their overall sales and profitability ratios. Plans and strategies are valuable in order to achieve the set targets thus achieving efficiencies in their operations. There should be proper analyzing of funds in order to carry out promotional campaigns and also the available resources should be utilized in most effectual and planned manner.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Books and Journals Al-Ekam, J. M. E. and et. al., 2012. Determining the antecedents of actual purchase of local product brand in Yemen.American Journal of Economics, special issue.pp.97-100. Baker, M. A. and Magnini, V .P., 2016. The evolution of services marketing, hospitality marketing and building the constituency model for hospitality marketing.International Journal of Contemporary Hospitality Management, 28(8), pp.1510-1534. Campbell, R. and Martin, C., 2015.Media essentials: A brief introduction. Macmillan Higher Education. Dibb, S. and Simkin, L., 2013.Marketing essentials. Cengage Learning. Draelos, Z. D., 2010. Essentials of hair care often neglected: Hair cleansing.International journal of trichology.2(1). p.24. Eslinger, T., 2014.Mobile Magic: The Saatchi and Saatchi Guide to Mobile Marketing and Design. John Wiley & Sons. Hsu, W., 2011. The vocabulary thresholds of business textbooks and business research articles for EFL learners.English for Specific Purposes.30(4). pp.247-257. Lancaster, G. and Massingham, L., 2010.Essentials of marketing management. Routledge. Lane, V., 2014. Measuring the Financial Value of Marketing Strategy with Excess Stock Market Return.International Journal of Risk and Contingency Management(IJRCM),3(4), pp.1-16. Malhotra, N.K., Birks, D.F and Wills, P., 2013. Essentials of marketing research. Pearson. Martin, C., Campbell, R. and Harmsen, S., 2014.Media essentials: A brief introduction. Bedford/St. Martin's. Moons and et. al. , 2010. The extended decomposed Theory of Planned Behaviour. A framework for investigating the adoption process of electric cars. InThe 6 Senses-The Essentials of Marketing (EMAC 2010)(pp. 191-191). Perreault, W. D., 2010. Essentials of marketing: A marketing strategy planning approach. Wieser, P., 2012.Essentials of Logistics and Management, The Global Supply Chain(No. EPFL-BOOK-197496). EPFL Press. Online Functionsofmarketing.2018.[Online].Availablethrough: <http://smallbusiness.chron.com/functions-marketing-business-32399.html>. MarketingMix.2018.[Online].Availablethrough: <http://www.marketingteacher.com/marketing-mix/>.