BMP4004: Analyzing the Nature and Importance of Marketing Mix

This report examines the nature and importance of the marketing mix within the marketing process, focusing on contemporary issues in marketing. It provides an explanation of marketing and the marketing mix, followed by a theoretical explanation of the 4Ps (Product, Price, Place, Promotion). The report then introduces Cadbury as a case study, applying the 4Ps marketing mix to analyze Cadbury's strategies, including its product lines, pricing policies, distribution channels, and promotional activities. The analysis highlights Cadbury's use of premium pricing for certain products, its extensive distribution network, and its diverse promotional methods to reach a wide range of consumers and enhance brand value.

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 scenario, the changes in the present world due to the rapid growth of
technologies, infrastructure, human preferences. Due to the changes in the present world, the
present market is also changing rapidly which includes changes in the research and
development , changes in the technology, customer preferences. Contemporary issues are
those beneficial that helps an organization to study about the issues faced by the present
businesses in the field of marketing and the techniques to resolve it. Contemporary issues in
marketing are across-the-board, upgraded, and informant that presents a logical
understanding of content issues in marketing(Cuffy, Bakas, and Coetzee, 2020). In 1824,
john Cadbury established the Cadbury as a confectionery company. Its market turnover in
UK is increased from 121.7M Euro to 122.3M Euro. And its pre- taxation profit has increased
from 258.3M euro to 31.7M Euro. This report contains the marketing strategies, the brief
explanation of marketing mix, theoretical explanation of 4Ps of marketing mix, introduction
to products and its types.
An explanation of marketing
it is a function of organization and a process of creating, communicating, and
transferring values to the consumers. The marketing is present everywhere. Marketing helps
the organization in creating demand and the profitability that alternately helps in increasing
the brand valuation of the firm. Marketing provide the information to check the consumer
behavior. Various sales promotion technologies can be selected through it. It helps in
standardized the company performances. Also helps in achieving the objectives and goals of
the firm. The main objectives of marketing that a company willing to achieves are demand
creation of the customers by identifying the wants and needs. The another objective of
marketing is to increase the firms market shares. There are different types of segments in the
marketing which are followed as business to business and business to consumers marketing.
B2B is a segment of marketing that involves the transaction of goods and services between
the two organization. For example – trading of goods between the retailers and the
wholesalers in the perception related to the marketing. Another segment is known as business
to consumer, in this type of models the trade of marketing exist between the business and the
consumers. This relates to the sales of goods and services between the retailers and the
consumers. There are different types of marketing that helps the business in growing the sales
of the company and brand value are digital marketing, affiliated marketing, content
marketing, event marketing and international marketing.(Lien and Hong, 2020)
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An explanation of marketing mix
it is a very beneficial concept adopted by various organizations too achieve there set
goals. The main purpose of very organization is to earn or maximize there future growth and
profitability. It is an important tool that helps an organization to present there product
line(products and services) in such a way that create a positive attitude in there customer
mind toward there organizations. With the help of this tool, an organization is able to
influence there customers to purchase there goods and services. Through this process,
marketing managers of different firm's advertise and promote there products in a market
place where they can capture new customer base. This helps in increasing the sale as well as
the brand value of the company. The elements of marketing mix includes the Price,
Promotion, place, product. And extent to which other three elements of service mix are
process, physical evidence and people. Cadbury is a British multinational brand, having its
headquarter located in uxbridege in London. Cadbury is known as the one of the largest
confectionery companies in the whole world. Through the marketing mix of the one of the
largest confectionery brands helps in analyzing the strategies of the company and the
techniques used bu it that deliver an unified content to its customers. (Le Huong Linh, 2020)
A brief theoretical explanation of 4Ps marketing mix
 Product - Product is anything that an organization offers to its customers. It refers to
as goods and services. It can be tangible or intangible in nature. All the products
satisfy the wants and needs of the customers. A product that a company provide to its
customer are rich in quality with moderate pricing so as to attract the customers.
 Price- It is the sum charged for a good or the services. It is know for the customers
expectations to get a product and called the only revenue generating element of the
marketing mix. A well established price of any product help in attaining the goals of
the organizations, and support product positioning.
 Place- the place is a geographical region where goods and services made available
for the customers to purchase. It is one of the biggest marketing mix. It includes
channel of distribution, market coverage, assortment, location, inventory and
transportation. The important marketing activity is the distribution of products. For
example- if a an organization manufacture some goods to satisfy the need and wants
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of the customer and market there product in the rural area of west UK then the
particular are chosen by the organizations for marketing will be known. (Nart and
Öztürk, 2021)
 Promotion- it is an activity of promoting the products and service of a company in
front of consumers. It can be done through various methods which includes
advertisement, publicity, sales promotions, direct marketing, personal selling, public
relations . It helps in establishing the communication directly with the customers.
promotion of product helps in enhancing the brand reorganization, brand valuation,
rises in the product awareness and helps in presenting product benefits. Its also helps
in reaching the goals and objectives of the company. (Lien and Hong, 2020) (Dixit,
2020)
Introduction of product/service
To satisfy the wants and needs of the customers, the product is introduced that offers
to the market. Product is an introduction to an business. it is executed mainly by the sales and
marketing department. marketers often produce this kind of customer responses to help sell
the product. product can be categorized into customer based and company based and they can
be tangible and intangible and they can be in form of services. product is identity for a
company a finished product can be made through using raw materials skillfully with help of
labors and technology. Cadbury is a subsidiary company established in 1824 by John
Cadbury in London. It is the biggest manufacturer of different types of products. It is known
for its quality and different floured taste. Different products like Dairy milk chocolate, the
creme egg and roses selection box and many others. Cadbury produces many chocolates
brands like crunchie, double Decker, caramel, wispa, boost, flake, curly and fudge. Cremes
eggs are the product that are famous in new year season. the company also an owner of
Maynard and halls.(Thanh and Huong, 2020)
Application of 4Ps marketing mix to the selected product/service
Product
Cadbury is a one of the biggest multinational company that produces high quality of
products and having different types of product lines in the categories of chocolates, cookies,
ice creams, bars, beverages and desserts. The most popular name of the Cadbury products are
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boost, bournville, flakes, fudge, Roses,etc. All the seven continents has Cadbury (the leading
name of chocolate). In current scenario, the most popular product of this company is dairy
milk because the product is available in different flavors and different categories with price
friendly. The famous product of the Cadbury in the categories of beverages is born vita which
is the most loving product for the consumers who are milk addicted. Its product is used as a
sweets in different festival seasons.
Price
Cadbury is known for its high quality product with less pricing. It operates in all over
the world. Cadbury follows the premium pricing policy for some products because of
providing high quality products. The products that have high prices are followed as Cadbury
silk, bournville and chocolate bar that uses the price skimming strategy ( it is a strategy
through which large scale organization charges highest base price from the customer and the
lower it over a period of time)(Pitts and Zhang, 2020) . Different sizes of product(in sense of
chocolates, bars, cookies,etc.) are manufactured by the Cadbury which has lower price of
many product that are economically influence the different portion of customers. Dairy milk
chocolate is one of the famous product of Cadbury having low prices. Cadbury manufacture
different types of celebration boxes on different festival with low prices that attract many
customers. This helps in increasing sales during the festival time period.
Place
As the Cadbury is a multinational confectionery brand it has vast distribution channel.
Its distribution channel not only spread in the UK but also in the almost all the countries of
the world. Due to its modified distribution channel, the products are available all over the
world. The product is available from supermarket to the a convenience stores and corner store
and also available on the sweet stores. Cadbury is famous for its availability of its products
even in the rural areas. Its product are also available online. Due to its large production of its
products the product can be purchased through many e commerce websites like amazon, flip-
kart, snapdeal, etc. once the chocolate manufacture in huge amount than it follows some steps
to reach to consumers that are(Zhilla and Shkira, 2018)
company – C&F agent- distributors- retailers – consumers.
The cost of the product is always high as it is supported by demand due to it high distribution
cost.
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Promotion
Cadbury is the manufacturer of various confectionery products like chocolates, bars,
desserts,etc. It requires promotion on large scale to aware the customer about its products.
Cadbury uses different types of promotional methods to attract the customers in order to
increase the sales as well as the brand value. These methods includes advertisement through
Television, radio and print media. It also uses social media methods to attract the customers
of different segmentation. Everyone likes chocolates and cookies whether they are children or
adults or old age people. The Cadbury products influenced every age group. The main aim of
the Cadbury is that there product will reach to maximum number of peoples and there
product bring happiness in the lives of the consumers. A large portion of finance is spend
every year for the promotion of brand and its products. Cadbury comes into many
controversy because of its advertisement but at the same time the Cadbury won may awards
for its best advertisement. The promotion of Cadbury on executed on a big scale that a small
shop, hotels, corners,etc has its posters, banner and hoardings.(Tracy, 2019)
Conclusion
From the above data, it has been concluded that marketing is a place where the
organization introduces its products to offer the customers i9n order to satisfy the wants and
needs of the customers. And marketing mix is a tool that an organization uses to influence the
market. It has four elements named as product, price, place and promotion. Product is
anything that can be offered by the firm to the market and the amount at which the product is
sold is called its price. The market where the product is distributed is the place and boost the
product is known as promotion. It has been conclude that Cadbury has different types of
product with specific prices having a vast distribution channel and uses different
advertisement process that helps in promoting the product.
References
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Contemporary Perspectives. Routledge.
Dixit, S.K. ed., 2020. The Routledge handbook of tourism experience management and
marketing. Routledge.
Le Huong Linh, B.M.T., 2020. IMPACT OF DIGITAL PLATFORM ON THE
INTERNATIONALIZATION STRATEGY OF MICRO-AND SMALL-SIZED
WOMEN-OWNED ENTERPRISES. CONTEMPORARY ISSUES IN INNOVATION
AND MANAGEMENT, p.134.
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Lien, P.T. and Hong, H.P., 2020. THE IMPACTS OF PACKAGING ELEMENTS ON
CONSUMER PURCHASE INTENTION. CONTEMPORARY ISSUES IN
INNOVATION AND MANAGEMENT, p.564.
Nart, S. and Öztürk, A., 2021. Circular Economy from the Point of Consumption Relations:
Consumer’s Role in Maintaining Circular Process. In Contemporary Issues in Social
Science. Emerald Publishing Limited.
Pitts, B.G. and Zhang, J.J. eds., 2020. Sport Business in the United States: Contemporary
Perspectives. Routledge.
Thanh, V.N. and Huong, T.T., 2020. CUSTOMER ANALYTICS IN E-COMMERCE: A
LITERATURE REVIEW. CONTEMPORARY ISSUES IN INNOVATION AND
MANAGEMENT, p.522.
Tracy, N., 2019. Losing Millennials in the City: Reflection on Contemporary Issues.
In Democracy and Governance for Resourcing the Commons (pp. 165-177).
Springer, Cham.
Zhilla, A. and Shkira, E., 2018. ROLE OF SOCIAL MEDIA IN THE PROMOTION OF
TOURISM IN ALBANIA. In Global challenges of contemporary issues (pp. 120-
123).
(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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