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MKG301 - Marketing Essentials of Cadbury

University: REGENT COLLEGE

  • Unit No: 2
  • Level: High school
  • Pages: 15 / Words 3800
  • Paper Type: Assignment
  • Course Code:

    MKG301

  • Downloads: 39
Organization Selected : Cadbury
Question :

There are the following questions that are considered in the given projects.

  • Explain the key roles and responsibilities of marketing functions.
  • Describe the key roles and responsibilities related to the organisational context.
  • Perform the marketing mix in order to attain the business objectives.
  • Prepare the marketing plan.
Answer :

INTRODUCTION

Marketing plays an important part in the success of the organization. The crucial part of marketing is to satisfy the unfulfilled needs of the customer through providing product to them. In exchange of product, some monetary value is taken by the organization. For getting success in the market, firms should grasp the essentials of market and makes plan accordingly. For this report, Cadbury is taken into consideration. Cadbury is a British multinational company which deals in confectionery and headquarter in Uxbridge, London. The whole company is acquired by Mondelez international. In this report, Marketing functions and its relationship with other department is explained. Apart from that marketing plan to launch a new product is also discussed here.

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Task 1

P1 Key Roles and responsibilities of marketing function

In today's world, marketing is become essential for any company no matter small or big if they want to compete in competitive market. Marketing plays an crucial role in initiating the relationship between the company and customer. Marketing functions include promotion, market research, selling etc. It helps the company to increase their market share and profit in the market. Marketing concept includes,

  • Product concept:Company aim is to satisfy the unmet needs of the customer through their product in affordable price. The product should be made according to the needs and demand of the consumer so that they wont hesitate to buy it. Cadbury should made their product healthier and eco friendly as nowadays consumers are aware of their health and environment.
  • Selling concept: Company has to reach their customer to sell their product. The trend has now changed, company have to invest in the marketing to aware the customer about their product. Idea behind this concept is company has already produced the product now they have to sell it. Techniques like Sales promotion can be use by the Cadbury to market their product.
  • Production concept: This concept focuses on low production cost and mass production. The organization assumes that consumers wants to consume their product as the prefer their products rather than their competitor. Cadbury can use this technique to reduced their production cost. Moreover it will help the Cadbury to provide their product so that consumer can buy it anytime.
  • Marketing concept:In starting marketing concept comes under the selling concept where its work is to sell the product to their customer. Cadbury should made their product according to the customers need so that they can satisfy it by consuming it.
  • Societal marketing concept:This concept describes that company should make their product according to consumer needs and demand and besides this society well being should also be maintained. Use of polythene or any other product that will degrade the environment should be prohibited.

Roles and responsibilities of marketing function has changed over time with scenarios. Different roles and responsibilities of marketing function are described as follows:

  • Potential market identificationIt is a crucial work of the marketing department. The main role of marketing is to find the potential market in which they can sell their product and earn profit. With this, customer base would also increased. The main role of marketing function of Cadbury is to search for the potential market or customer and try to capture them by fulling their needs (Schoell, Guiltinan, and Valvatne, 1993). More market capture will leads to increase in the profit for Cadbury.
  • Marketing strategies Market can only be capture with the help of unique and effective strategies. Marketing department work is to scan the external environment so that competitor strategies can be find out and according to that strategies should be made. It will help the Cadbury to counter competitor strategy and gain the competitive advantage. Cadbury should make their strategy according to the environment and their main focus of the strategy should be consumer and their needs.
  • Product development:Company should make their product line broad so that they can capture more market. Marketing department role is to find out the unmet needs of the customer and how they can satisfy them with their products so that they can increase their profit (Baker, 2014). If the unmet needs are not satisfied with the present product line than marketing department work is to make the new product. Cadbury should innovate their product time to time so that they can retain and capture more customer. It will help the company to gain the competitive advantage.
  • Customer grievance handling: Marketing department work is to handle all the issues faced by the customer and how it can be resolve so that customer will stick to Cadbury brand. Customer feedback and grievances should be taken by the marketing department so to understand the need of the customer. Cadbury should provide their grievances number or ID where customer can register their problem. It will help the Cadbury to understand the actual need of the customer and then they can make their product according to that.
  • Conducting market research:Market research is the crucial role of the marketing department. It should be conducted time to time so that they can understand the need of the customer (Pike, 2015). Cadbury should focus on research as it will help the Cadbury to understand their changing need and modify its product according to that.

P2 Roles and responsibilities of marketing related to the wider organizational context

Marketing department is the core part of any organization. Activities of marketing impacts the other department and its working style. The relationship between marketing and other department of the organization is described below:

  • Human resource department:The marketing department is directly connected to the HR department. Specific skill set, ability is required to fit in the marketing department. That's why Marketing team should work with HR to ensure that candidates are selected according to the skills requirements. Cadbury should work on this as if the candidate is selected without proper monitoring then it would affect the productivity of the Market team and Cadbury (Moore, 1991). For instance, sales team of Cadbury have to work on field to acquire market thus HR should take care of this skills and select the candidate accordingly.
  • Finance department: This department have to allot fund to marketing so that maximum utilization can be achieved. Cadbury have to spend their big part of money in sales promotion, bundle pricing, advertising, content marketing etc. So that they can convey their budget to the finance department and proper should be done than. For example: Finance department need to examine different source of fund in which marketing department help them. So both are interrelated with each other.
  • Production department: Production of the product is depend on the demand of the customer and demand of the product is generated by the marketing department. Cadbury should make a genuine communication between both the department. It will the company the meet the demand and supply of the product and proper availability of the product would be available then.
  • Research and development department: R&D team work to find out the need and demand of the product and make improvement in it to satisfy the unmet needs. Cadbury's research departmentconduct research and constantly scan the market. This information is provided to marketing department so that marketing can be done more effectively.

Cadbury is required to use marketing at any level of launching the new product. If there is proper relationship between all the department then their productivity will increase to a certain level rather than working on their own (Hair, J.F., and et. al., 2008). When all the departments of the company works together than vision and mission of the company would be achieved and helps the company to create a sustainable competitive advantage. Marketing department in the Cadbury play vital role by promoting new product and services at marketplace.

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Task 2

P3 Use of marketing mix to achieve overall marketing objectives

Marketing mix helps the company to know their target market according to their products and how they can capture and retain them to create a sustainable advantage. It helps the company to make a unique and competitive strategy for the organization so that they can compete in the market. It also helps the company to make a strategy related to the launch of a new product or revising existing products (Yeshin, 2012). 7P's of marketing mix is describe below in comparison with Mars incorporated.

Basis

Cadbury

Mars incorporated

Product

Cadbury has wide range of products with different ingredients. They make their product according to the consumer needs that's why they have so many different types of product. It helps the Cadbury to capture more market and gain competitive advantage. Bubbly Caramel, Crunchie Chunks Pouch, Dairy Milk Caramel Chunks Bag, Dairy Milk Caramel Chunks Pouch., Dairy Milk Chunks Bag, Dairy Milk Chunks Pouch etc.

Mars mainly known for producing confectionery products but apart from that they also produce pet foods and snacks. They are covering wider range of consumers all over United kingdom. It helps the company to remain at the top of the competition.

Price

Prices of the product make the perception of the product in the mind of customer. Cadbury use this techniques very cleverly and set their prices according to the market demands. Cadbury produce different types of products with different price range so that they can capture more market.

Mars focuses on the middle and upper middle classes of the society. Prices are generally high in comparison to cadbury.

Place

Cadbury has their office in more than 40 countries in the world. They prefer to sell offline through their store as it creates relationship between the customer and the company.

Mars has presence all over the world and sell their products online and offline. Online platform helps the company to capture more market so that profit of the organization would increase.

Physical evidence

Cadbury is known to produce confectionery products. It helps the company to increase their sales in Christmas, new year, valentines day etc. Blue colour is the main key factors in their wrapping.

Mars use fix and healthy type of ingredient.

Promotion

Cadbury use their promotion strategy very cleverly. They try to capture the market according to the environment. If any festival is coming they reduce their price or increase their quantity to capture the market. Moreover Cadbury also produced personalized products so that they can gain the competitive advantage over others.

Mars has the tag line” A Mars a day helps you work, rest and play”. Company try to give the idea that Mars product is healthy to use and anyone can use to increase their efficiency. They heavily focused their strategy to sales promotion. Different type of sales promotion is use to acquire the customer.

People

People are the one who directly or indirectly affects the value of the product. Cadbury should provide proper training to employees so that they can give their best while making confectionery. Company gives focus on employees so that they can understand the need of the product and make their product accordingly.

Mars motivate their employees to innovate the products and improve it regularly so that customer can retain with their products. They believe that retaining the employees is the best strategy to gain the competitive advantage.

Process

Cadbury can use techniques like lean management or Kaizen to remove the wastage and increased their efficiency. It helps the company to reduced their pricing to allure customers from all over the world.

Mars can use techniques like six sigma to increased their efficiency and maintain their quality to fullest. Mars is known for its quality and taste and that should be maintained by the company if they want to create competitive advantage.

P4. Development and evaluation of a basic marketing plan

Marketing plan of a company is the basic strategic plan which is used to enhance the product's knowledge into the minds of the customers. Every company which is going to launch its new product in market require to its customer's to know about the product. This helps in the increasing the sales of its new product (Gillespie and Riddle, 2015). Since there is huge competition in the market therefore it is necessary to the company to know their customers about what has launched in the market. Here, the chosen company is Cadbury.

Executive Summary: Main purpose of conducting marketing plan is to identity the SWOT analysis, Background, STP, marketing mix and many other details of the company. This company deals in chocolate food products and it is launching a new chocolate which is more healthier and can be useful to gratify the hunger (Ryan, 2016). In this section, a basic marketing plan is discussed to make reach of this new product to its customers.

Overview of the Company

Cadbury is a British multinational confectionery leading company. It is one of the largest confectionery company headquartered in Uxbridge, West London. It operates in almost 50 countries. This company is known for it's best known product Dairy Milk chocolate. It is one of the most successful exporter in UK.

Mission & Vision

Cadbury has its vision statement of delivering the quality product to its customers. “Working together to create a brand that people love.” This statement shows about the delivering quality products. Company's mission statement shows “To provide customers with a tempting and exquisite taste”. This statement shows that Cadbury wants to deliver a good taste to its customers.

Strategic objectives:

The main objective of this company is to make the market of packaged food products which mostly deals in chocolate.

  • To increase market share up to 10 % in 1 year.
  • To minimise production cost up to 6% within 1 year.

Marketing Research:

To make new product deliverable to its new and existing customers, it is necessary for the company to market its product (Zimmerman and Blythe, 2013). A new product always needs to know by the customers, before it is going to be launched in the market. A marketing research should also be done before launching the new product so that company can know about the targetted customers.

STP :

To identify the most appropriate segment for introducing and selling product, there is a requirement of STP model. This model is the acronym of Segmentation, Target and Positioning:

Segmentation:

It is referred to as the division of market in accordance with the need and requirement of the customers. A product cannot be launched in a particular are where it has no or less consumption. The product should be launched where there is a need of that product. Cadbury is launching its new product which has its specification as this product is launched for the children and a group of specified people. Cadbury divides the customers on their special characteristics such as age, geography etc. It cannot launch it product in rural areas, as this has its market in urban areas where people doesn't have so much time. Therefore new product should be launched in urban areas where people having good purchasing power.

Target Market:

These are the specific customers for which the product is manufacture. A new product always requires its customers to whom the product is made these are called the targetted customers. Cadbury is launching its new product which is quite healthier and hunger saviour. This product is launch in market specially for the children and the different segment of the society. Hence, the targetted customers for a new product of Cadbury are children. This is known as the area of a particular type of people who can consume the specific new product launched by the company. It is not possible for the company to avail its product to everyone. Since there is a huge competition in the market and it is quite tough to capture all segment of people. Therefore a particular type of consumers are required to consume a product. Cadbury should also look forward to capture their targetted customers (McCarthy, Perreault, and Wilkinson, 1994). The targetted customers of Cadbury could be children and a specified group of people who can consume that product. Target customers requires some of the functions on which they can rely on the product.

Positioning:

A customer is going to buy a new product in the market, it is must to have positive feedback of that particular product in the minds of customers. That is what positioning does, it helps in making a good and positive image of product (Lamb, Hair, and McDaniel, 2011). Positioning helps in making a comparison of similar products in market. Cadbury has to position it's product in the market so that it can make a positive image of its product to the competitive product. Cadbury is one of the biggest and most trusted brand of chocolate in the world.

Market budget:

It is a part of marketing strategy in which whole budget is discussed to evaluate the marketing cost. It includes all promotional cost, like advertising and public relations, employing staff, office cost and other expenses (Nguyen and Simkin, 2012) .

Marketing budget

 

Particulars

1st year

2nd year

3rd year

4th year

5th year

Initial money

60000

18500

18000

14500

18350

Investment

95000

18000

26500

35000

25500

Total

155000

36500

44500

49500

43850

Marketing outlay

         

Promotion

6800

3900

7300

3900

3850

Sales publicity

2900

2198

3385

2290

2700

Direct selling

4800

9500

8000

7000

9650

Total

14500

15598

18685

13190

16200

Implementation & monitoring and control

Segmentation, target and positioning is implemented in this marketing plan which helps to Identify the required customers to which the product is manufactured. Apart from that, Segmentation helps in finding the target customers. For this product, children and other job oriented people are the segments.

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Conclusion

From this report, it can be concluded that Cadbury has use the market techniques uniquely and effectively. Marketing is more essential and important part for the organisation to introduce their product and services to the customers. Marketing mix is also essential for the company to introduce their new product to customer and at marketplace. Key roles and responsibilities of marketing functions relayed to wider organizational context is discussed in this report. Apart from that use of marketing mix and development and evaluation of basic marketing plan is also done to achieve overall marketing objectives. From this report, Cadbury is able to market its new product so as to provide a good response to it's product.

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References

Books and journals

McCarthy, E.J., Perreault, W.D. and Wilkinson, J.B., 1994. Essentials of marketing: a global-managerial approach. Irwin.

Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.

McDaniel, C., Lamb, C.W. and Hair, J.F., 2012. Marketing essentials. South-Western.

Schoell, W.F., Guiltinan, J.P. and Valvatne, L., 1993.Marketing essentials: mastering concepts and practices. Allyn and Bacon.

Pike, S., 2015. Destination marketing: essentials. Routledge.

Moore, G.A., 1991. Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers (Collins Business Essentials). HarperBusiness, New York Google Scholar.

Hair, J.F., and et. al., 2008. Essentials of marketing research. New York, NY: McGraw-Hill/Higher Education.

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