Marketing

TASK 2

P3. Comparison between the marketing mix of two organisations

Marketing mix can be defined as set of tactics that an organisation uses in order to promote its product as well as brand within marketplace(Huang and Sarigöllü, 2014). This support in increasing the brand awareness among target customers. This will help in increasing the volume ofsales. Following table includes the comparison of two companies on the basis of their marketing mix:

TASK 3

P4. Produce and evaluate a basic marketing plan

It refers to a written formal document that outlines the marketing strategy and tactics along with actions that are required to perform for accomplishing the specific marketing objective(Westwood, 2013).Marketing plan of Cadbury is given as under:

Company overview:Cadbury is a second largest British multinational confectionery company which is headquartered in West London and operates its business in more then 200 Countries around the world (Cadbury, 2018). This offer different product categories such as chocolate bars, biscuits, milk additives, candies and many more. But with the increasing competition and consumer's awareness toward health conscious product which leads to decrease in chocolate consumption. As a result of which Cadbury has decided to launch a Gluten free chocolate for health conscious people.

Vision & Mission:The vision of Cadbury is to work together for creating a brand which people love. Its mission is to provide high quality product by continuously making improvement over existing one.

Strategic Objective:The main objective of Cadbury is to become number one choice of customers within the marketplace. But in order to achieve this aim Cadbury is required to adopt SMART objective which is specific, measurable, attainable, reliable and time bound. So, the SMART objective of Cadbury for Gluten free chocolate is to achieve 8% profit in UK market by increasing 15% of market share within 6 months after launching of product.

STP :-This process consists of three major approaches which support company in aligning their products as well as promotional activities on customers who are willing to use those product or services (Telang and Deshpande, 2016).

• Segmentation:-It refers to the process of dividing the whole market into small groups as per the homogeneity in terms of their need, preferences and spending behaviour which customers share. Cadbury segments its market on demographical(age) and behavioural bases(health conscious).
• Targeting:- It refers to the process of selecting the most profitable group of customers for targeting them with their product and required promotional activities. Cadbury's target market is health conscious and millennial people who generally focuses on purchasing healthy products.
• Positioning:- This step includes set of marketing strategies that are being used by company in order to set a locus of its product in the mind of targetted customer in more valuable form. In order to launch its product, Cadbury position itself in a form that “chocolate is a healthier choice”.

Marketing mix: Cadbury is planning to launch its new Gluten free chocolate for health conscious people and in order to position it appropriately. In this regard, company is required to formulate strategy using elements of marketing mix which are as explained below:

• Product:- With the increasing trend of healthy food, Cadbury decided to launch a Gluten free chocolate for fulfilling the demand of health conscious people and maintaining its market share.
• Price:-Cadbury has decided to keep the prices for its new Gluten free chocolate low so that it can be affordable to people and will be able to capture market share i.e. market penetration pricing strategy.
• Place:- This Gluten free chocolate will be available to all the stores through which other chocolates of Cadbury are being sale (Chernev, 2015).
• Promotion:-For promoting this chocolate, Cadbury has decided to promote it through TV commercials, Billboards, Pop up ads, Social media sites and by placing posters in front of Gym or fitness clubs.
• People:-Cadbury will provide training to its employees regarding the process they required to follow for achieving a desired taste in their product. Apart from this it will also provide incentives over exceeding the sales of new chocolates.
• Physical evidence:-Stores which are going to offer these chocolates will be provided with posters to apply over their stores which present the health benefit provided by these Gluten free chocolates (Westwood, 2013).
• Process:- The process will remains same where chocolates are produced at factory and then sent for quality standard check. After which produced chocolates are kept at stores and from where they are transferred to retail store for selling them to customers.

Marketing budget:- It refers to the presentation of estimated amount of cost which a company required for performing its promotional activities for promoting its product or services in marketplace (Pike, 2015). Following table depict about the marketing budget of Cadbury:

From the above given budget plan, it can be depict that Cadbury required to invest 10000£ and 6000£ start up capital in first year. Apart from this it required around 7000£ for marketing and 7000£ for publicity of its new Gluten free chocolate.Overall, it has been gained the information from the above budget thatCadbury is able to sustain in market with new Gluten free chocolate as in fifth year the amount of capital which will be remaining is around £2400.

Monitoring & evaluating:- Under this step, Cadbury focuses on evaluating the outcome of efforts that are being made in first year and then compare it with the planned outcome. This will support in identifying the deviation between the performance and reasons behind them so that effective decisions can be taken for improvement.

Conclusion

From the above given report it can be summarised that marketing plays an essential role in increasing the brand image and sales of a company. Marketing involve set of promotional activities like advertisement, social media marketing, hosting events etc. which is generally focused toward integrating with target market and informing them about its product or services. But marketing function can't be perform in isolation it is required to communicate and coordinate with other functional units such as HR, IT, R&D, finance etc. for achieving desired outcome. Apart from this marketing mix also support in developing effective strategy for attracting customers and maintaining healthy relationship with them. But in addition to this marketing plan also plays an essential role within the operation performed by a company as it is a blueprint which provide guidelines regarding the actions to be performed for accomplishing the set targets.

References

• Akroush, M.N., 2011. The 7Ps Classification of the Services Marketing Mix Revisited: An Empirical Assessment of their Generalisability, Applicability and Effect on Performance Evidence from Jordan’s Services Organisations. Jordan Journal of Business Administration. 153(3141). pp.1-32.
• Armstrong, G. and et. al., 2015. Marketing: an introduction.
• Chen, Y., Fay, S. and Wang, Q., 2011. The role of marketing in social media: How online consumer reviews evolve. Journal of Interactive Marketing. 25(2). pp.85-94.
• Chernev, A., 2015. The marketing plan handbook. Cerebellum Press.
• Enache, I. C., 2011. Marketing higher education using the 7 Ps framework. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V. 4(1). p.23.
• Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.
• Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.

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