Marketing mix

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    2
  • Words:
    1344

Marketing Mix

The marketing mix provides an important perspective regarding the marketing strategy which the business has used and the effectiveness it has provided. The marketing mix consists of 4 elements and is product, price, place and promotion. The detailed marketing mix for Cadburys is as

Cadburys through their product offering looks to create a memorable and exciting experience for its customers. The different products which Cadburys deliver is chocolate, gum, candy and drinking chocolate products. The offering of Cadburys has undergone changes in the last two decades and development in the product has been made based on consumer demand. The development of the product has been intrinsically linked towards improving the experience for customers and providing them quality products (Frambach, Prabhu and Verhallen, 2003).

The different products which Cadburys deliver have one thing in common which are chocolate as the entire product range is developed keeping those in mind. Cadburys offer different products some which are rich in chocolate, some which contains liquid chocolate and some where cocoa powder is provided. Having different products and a long list of products has helped Cadburys to provide something for everyone.

The products offered are further tested and checked to ensure that they are fit for consumption and shield life on each product is provided. Further, the enrich the taste and keep it fresh the chocolate is refrigerated and the same is offered to customers so that chocolate doesn’t loses its shape, design and taste and provides a memorable experience to customers.

The pricing of Cadburys have been done keeping in mind the targeted section of society. Since, the confectionery market is one where prior planning regarding the price of product is rarely done by customers the impact is actually small. Cadburys has looked towards all section of society for which it has same product in different sizes. This has enabled them to keep the price of the product low so that all customers can be attracted.

Cadburys offer big boxes of toffee especially for gift purpose. The pricing of the product has thereby been kept high keeping in mind the leisurely customers. The overall phenomenon has thereby been aimed towards penetration pricing as the business looks to penetrate deep into the market and ensure better customer attraction. Further, Cadburys has ensured a mark up price on the cost so that all the cost can be covered and the business is able to earn profits.

Looking from the perspective of customer the pricing offered fits everyone pocket as different sizes and products have been priced differently. This has helped to differentiate between the products as pricing cues provide important dimensional difference and has helped to ensure that the mechanism of pricing looks to cover their cost at the same time penetrate deeper into the markets.

Cadburys is available all around the globe because of the strong supply development network which has enabled them to penetrate deeper in the market. Cadburys have tied up with different players and suppliers which have helped them to move better in the market. Since, Cadburys is available everywhere the strategy has been towards penetrating deeper in the market.

Cadburys are available in shopping malls, shops, online and all other medium through which goods can be supplied. Cadburys to meet the demand also has production plant in different regions of the world so that the product can be supplied fresh and quickly to the required customer. This has also enabled Cadburys to develop products based on what the customer wants so that their wants can be better met. Cadburys has also looked towards ensuring that the raw materials are consistently supplied by the suppliers (Dadzie, 2003). They have looked at backward integration and have long term relationship with the suppliers which have ensured that the product is easily available. This has helped to improve productivity and ensure that products are easily available.

Cadburys has further used internet and technology to ensure that the products are easily available to customers. Customers can purchase the product online and ensure that the products are delivered to them. In addition to it the strong supply distribution network and tying with new partners has enabled Cadburys to be able to function in an effective manner. The overall framework has thereby enabled to ensure that the products is available everywhere.

Promotion

Cadburys has been active in promotion as they look to market their products aggressively so that awareness about the product can be created. Since, the target audience base is huge and they look to target everyone in the society so promotional activities especially advertisements have to be developed differently for every section of the society. This has helped Cadburys to use different ways to attract customers.

Cadburys uses print, audio, video, internet and every possible mode to attract customers. Cadburys advertises heavily through television, radio, hoardings and internet. Cadburys looks to use the prime slot while advertising and have different brand ambassadors advertising their product for different age groups so that more and more people can be attracted and awareness can be created (Kotler 2001). The use of social networking sites like Facebook and Twitter has further improved their awareness and has provided a platform where people can communicate with the company and get answers for the different issues which they face. Cadburys has also tied up with different events and sports which has helped them to improve awareness and has been able to attract more and more people.

In addition to it Cadburys also uses different promotional mechanism like offering discounts on their products, giving passes or tickets has helped them to attract loyal customers. Even undertaking steps where they look towards taking steps for the society and contributing towards the environment at a large has enabled them to improve their brand awareness. Further, having toys in their products has helped to attract children and has provided loyal customers through which overall business awareness has improved and more and more customers are looking towards the products.

One of the changes which can be looked at the marketing mix is making changes in the promotional mix. The organization can be more selective in choosing the different promotional mechanism so that cost can be reduced. Since, Cadburys is already a renowned brand and has the required awareness so cost can be reduced in the same field. Being selective and using the medium appropriately will help to save cost which can be passed on to the consumers by reducing the prices or looking to take steps so that the environment can be preserved (Considine, 1995). This will help to bring about the transformational change and ensure that Cadburys will be better placed in comparison to the competitors as they can offer more competitive prices.

The changes can be made by looking at major customer base and having promotional mechanism designed especially for them. Cadburys can look to adopt this for trial testing and can check whether it impacts the performance of Cadburys over a period of time so that steps in the future can be taken based on it. If the business is impacted Cadburys can resort back towards aggressive marketing but if the impact is minimal then steps can be taken towards selective promotional mechanism. The impact should be positive on the long term prospect of the organization as it would look towards reducing cost and provide a platform where they can be more competitive with the different players functioning in the market. This will help Cadburys to penetrate deeper in the markets and provide a differentiation from other players in the market.

References

Considine, J. (1995). Developing a marketing research process for organisations. Journal on Ministry Marketing and Management, 1 (2)

Dadzie, K., (2003). Demarcating strategy in shortage marketing environment. Journal of the Academy of Marketing Science, 17 (2), 157-165

Frambach, R., Prabhu, J. and Verhallen, T. (2003). The influence of business strategy on new product development: the role of market orientation. International Journal of Research in Marketing, 20 (4), 23-37

Kotler P, (2001), Marketing Management, page 201, 11th edition, Prentice Publication, Upper saddle River, New Jersey