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THL124 Marketing Essentials

Introduction

In today's competitive world, marketing is identified as a most essential tool which highly contributes in growth and long term sustainability of company. It involves several activities such as market analysis, identify needs and requirements of consumers, maintaining good customer relationship, development of strategies, administer information regarding goods and services of firm etc. Marketing functions highly assists in promoting products and services in market and communicate its value and benefits to customers (Berkowitz, 2016). This concept assists in fulfilling needs & demands of customers in more better and effective manner. By using this process, business creates value for potential consumers and maintain good relationship with them. In the present assignment, chosen organisation is Cadbury which is a British confectionery company. Firm is known for its delicious chocolates which it offers worldwide. This assignment covers roles and responsibilities of marketing and its relationship with other organisational functions. It also includes the ways in which firm use marketing mix elements to attain overall business objectives as well as basic marketing plan is developed and evaluated in thi

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Task 1

P1 Key roles and responsibilities of marketing function

Marketing is one of the fundamental function of every organisation which assists in promoting goods and services in marketplace in an effective and efficient way. It includes various activities which supports business in attaining high growth. Various functions of a company are interlinked with marketing which includes human resource management, distribution system, sales support system, marketing research, product development, strategy management etc. All these functions plays important role in promoting growth to business organisation. Major duties and responsibilities of marketing includes pricing, promotion, product, selling, marketing information system, distribution and financing (Functions of Marketing, 2017). In Cadbury, major roles & responsibilities of marketing are defined below:

Product: These are tangible goods that are offered by company to its potential customers in order to satisfy them. Marketing function plays vital role in developing such products that best meets needs and demands of customers. In Cadbury, marketing manager analyse market trends, attitudes, behaviour of consumers and collect informations regarding their taste and preferences so that required features can be added to product. It assist firm in developing chocolates according to taste of customers. By this, firm enables to attract large group of consumers and attain high sales.

Selling: It is an essential role of marketing under which all the data and information are collected and analysed by various tools so that effective strategies can be formulated. Implementation of such strategy assist in increasing sales of firm's product. Manager of Cadbury frame appropriate plans in order to boost up sales of chocolates. Various distribution tools are also analysed and used to make their goods available to target customers. Main aim of this function is to cover overall cost that is incurred in production of products by selling them to customers (Blythe, 2012).

Pricing: It is one of the essential component on which sales of goods rely. Organisations charge some amount in turn of providing goods to consumers. They set effective prices of products in order to gain attention of large group of customers. In Cadbury, managers analyse competitors pricing strategy and then set prices of product accordingly. It assists them in generating more sales as well as profits and attracting large group of customers. They ensure to set right prices of product so that more products can be sold in market.

Promotion: It is one of the major and significant function of marketing which assists in stimulating sales of company's products. Various promotional tools are used by firms in order to communicate value and benefits of products to customers and make them aware about it. Personal selling, public relation, advertisement, sales promotion etc. are some promotional tools that are used by administrator of Cadbury in order to effectively promote its products in market place. It facilitates company in generating more demand of product by encouraging customers to buy it.

Financing: It is an important component which assists in smooth running of firm's operations as without adequate finance, no business can operate. Availability of appropriate funds assists manager in developing effective marketing plan. It facilitates in carrying out marketing activities in proper way (Brassington and Pettitt, 2013). Managers of Cadbury arrange funds from various sources and ensures that adequate funds are maintained within firm so that all the activities are carrying out in appropriate way and on right time. It helps in developing effective marketing plans and strategies for promoting product.

Distribution: It includes transfer of goods and services from one place to another so that it can be reach to final customers. Various distribution channels are used by firms in order to make their goods available for purchases. In Cadbury, managers use effective distribution channels that covers all areas where product needs to be distributed. Those channels are used which ensures delivery of product on time as well as save cost of firm. Right selection of distribution channel helps to deliver goods on time (Cavusgil and et. al., 2014).

Marketing information system: In this, information regarding needs, taste, behaviour and preferences of customers are collected by manager. Marketing information system administers an opportunity to store all the gathered data in sequential way. This makes the process of decision making easy for mangers of Cadbury and enables them to take effective decisions. It facilitates company in creating large consumer base and gaining competitive advantage in market.

Above mentioned are all the roles & responsibilities of marketing function that needs to be carried out by manager of Cadbury in effective way so that sales and profitability of company can be enhanced and targets can be achieved.

P2 Interrelation of marketing roles and responsibilities to wider organisational context

Marketing is one of an important departments of firm which highly contributes in its growth and success. It assists in creating awareness among people regarding goods and services of company and helps in enhancing brand image. Activities and actions of marketing functions are highly linked with several other departments of company (Cooper, 2013). This is the function by which firm can easily boost up its sales and accomplish set targets and objectives in effective way. Managers needs to be considered interrelationship of marketing department with others functions of an organisation which can be understand by below mentioned points:

Marketing and operations department:

Operations department is concerned with process of manufacturing of products and services. High quality goods are produced by making optimum utilization of resources in cost effective manner. Activities of operations department are highly interrelated with marketing function. Marketing managers analyse market trends and gather information regarding preferences and needs of customers. This collected information is provided to operations department by marketing manager so that goods can be developed according to that and needs of customers can be satisfied in better manner. All this data helps operations manager of Cadbury in making effective decisions regarding production process.

Finance and marketing department:

In order to run day to day operations of business successfully, finance is required. Without adequate finance, no activities can run in appropriate way. It is the department which allocates budget and assigned funds to various departments. Activities of marketing requires high amount of funds so, it is necessary that firm should have adequate finance. In Cadbury, coordination between marketing and finance department assists in carrying out all the promotional activities in proper way (Jones and Rowley, 2011). Finance and marketing department are interrelated with each other as activities of one department can not be carried out without other.

Human resource management and marketing:

The department of human resource management is concerned with hiring and selection of individuals who are capable to attain goals and targets of company. For this, they needs to make proper advertisement of vacant job position of company. In this, marketing department plays crucial role. They make effective advertisement regarding vacant job position of firm so that people who seek job can be aware about it. With the help of marketing department, human resource department communicate to perspective candidates about job position so that they enable of fill application in order to get that job.

Research & development and marketing:

In present competitive market, needs and preferences of consumers are changing frequently. In order to maintain position in market and attain high profits, it is crucial for company to develop products according to the needs of customers. In this, research and development department plays vital role. Managers of this department conduct research and collect information regarding needs of market (Lilly, 2013). This helps company in developing products that assists in satisfying needs of customers in more better manner. Further, it assists marketing manager in determining those areas that needs to be emphasize on to attract consumers more.

Sales and marketing department:

Activities of marketing and sales department are interrelated with one another. In order to stimulate sales of goods and services of company, marketing manager use various communication tools and techniques which assists in encouraging customers to buy products. It assists in communicating about benefits of products to customers. Effective marketing helps in interacting with customers and maintaining good relations with them. All this ultimately increases sales of company and attaining targets of firm. It also ensures sustainability of firm in market for long term (Malhotra, Birks and Wills, 2013).

Information technology and marketing department:

IT department is concerned with several software and technologies used by firm for storing all the informations regarding products, customers, sales activities etc. This assists in attaining commercial targets of company. Technology renders an opportunity to organisation to interact with consumers and gather all informations related with them. Use of high end technology in activities of business assists in improving efficiency of business processes and also saves time as well as cost of firm. This collected information is used by marketing managers in making effective decisions.

All the above mentioned are various functions of Cadbury which are highly interlinked with marketing department that assists in accomplishing targets and objectives of company. Manager needs to ensure that proper coordination is maintained among them so that all the activities of firm can be effectively implemented and targets can be attained.

M1 Roles and responsibilities of marketing

Marketing function play various roles and responsibilities in attaining predetermined objectives of firm. Various promotional tools are used by company in order to aware customers about their goods and communicate them all the benefits of that products. Marketing managers analyse market trends to that such product can be developed which satisfy needs of clients in better manner (Mihart, 2012). It highly contributes in growth and success of company.

M2 Importance of interrelationship between marketing and other functions

It is very essential that a proper coordination should be maintain among marketing and other departments so that business objectives can be attained. Interrelationship between different departments supports in performing all the activities of firm in better manner. Function of marketing is very important in order to enhance profits and sales of company in an cost effective and efficient manner.

D1 Critical analysis of key elements of marketing function & their interlink with other units

As per the view point of Papasolomou and Melanthiou, 2012, marketing function administers an opportunity to business concern to effectively communicate with customers and make them aware about their goods. Key components of marketing function includes planning, strategy formulation, research etc. All these elements facilitates firm in accomplishing goals in effective way.

Task 2

P3 Application of marketing mix in marketing planning process to attain business objectives

The elements of marketing mix includes product, place, promotion, price, people, physical evidence and process. All these components helps firm in providing right product at right time and place. Application of marketing mix assists managers in taking effective decisions regarding prices, promotion and other aspects. So, it is required by manager to use all the elements of marketing mix in effective way so that sales target can be achieved and more profits can be earned (Marketing Mix, 2016). In order to accomplish goals and targets of company, Cadbury use this concept. They applied marketing mix in planning process which can be understand by following points:

Basis

Cadbury

Hersheys

Product

Cadbury offers range of tempting chocolates to customers all over the world. Their products includes five star, dairy milk, borunville, eclairs, perk, oreo etc. Apart from this, Bournvita is one of their product which is very popular among children and even adults. Firm is market leader in this product. With all such goods, company leads the entire chocolate industry. Cadbury is one of the leading firm and well known among people for its delicious chocolates.

The firm offers sweet syrups and chocolates to their customers and is also one of the well known brands. Variety of products are provided by company in distinct shapes and size. Innovation in products facilitates in attracting more customers and yielding high profits. Their chocolates are healthy and delicious (Peter and Donnelly, 2011).

Price

To being on top, some products of company needs continuous marketing efforts such as oreo. As their quality of products are high, prices are also more. Prices of some goods are reasonable also. For instance, prices of eclairs and five star is low with high quality taste. Range of products are provided by company and price of each is distinct as per the type of consumer (Shaw and Director, 2012).

Hersheys use premium pricing strategy in setting price of their products. Their chocolates prices are high as compared to other brands. Their main target is people of upper middle class and prices of chocolates vary from $10 to $60.

Place

Cadbury offer its products worldwide. Their products are distributed in all the areas but, because of low demand in rural areas, their marketing in such areas is weak. Currently, company covers approximately 200 countries and because of large channels of distribution, their distribution costs are high. Presence of firm in market is strong as their products are easily available at almost all the shops of cities and towns.

Their products are mainly available on large grocery stores. Effective distribution channels are used by company in order to supply their products worldwide. Major cities & areas of various countries are covered by them which ensures easy availability of their product.

Promotion

Cadbury use different promotional strategy in order to promote their product effectively in market. For instance, bournville is not buy by an individual, but they get it form others. Celebrations pack of Cadbury is used by people for the purpose of gifting so, it is positioned by firm as that. It is one of the most selling popular product. Bournvita is positioned as health drink. Company use mix of above and below the line marketing. Their marketing is very effective and it is the main reason of high brand recalling of firm. Before purchasing chocolate, individual first thinks about Cadbury.

Harsheys promote their product by the assistance of television adds, magazines and billboards. Main aim of company is to produce healthy and tasty chocolates so, people can enjoy it. One of the product of company, Milk booster positioned as healthy good for kids (Wilson,2015).

People

Manpower is the one which facilitates company in attaining predetermined gaols and targets of company. Employees, by their effective skills and knowledge contributes in success of company (Silver and et. al., 2012).

Firm have skilled and competent manpower which supports in bringing innovation in products and offer chocolates to customers with new as well as different taste.

Process

Effective and easy process is followed by firm for manufacturing products. They user high end technology for producing high quality chocolates and offering them to customers.

They followed sequential procedure in manufacturing chocolates. Latest technology machineries are used by firm for making good quality chocolates.

Physical Evidence

Firm gather and store relevant data from customers which assists them in producing and offering chocolates as per their taste and preferences in better and effective manner.

Various efforts are made by company in order to make their product attractive and people encourage to buy it more.

 M3 Evaluate tactics applied by firm to attain objectives

Tactics are the actions made by firm in order to attain its final objectives and targets. Company use effective pricing and promotional strategies in order to more attention of customers towards the brand. Marketing manager apply different tactics that assists them in increasing their sales and profits (Wirtz, 2012).

P4 & M4 Develop and evaluate basic marketing plan

Marketing plan refers to a detailed document which includes all the activities related to marketing and advertising that firm have to follow for upcoming year. Implementation of this plan ensures attainment of defined objectives on time. This plan depicts about current market position of business and determines its future position. With increase flexibility of this function, marketing plan becomes informal. The plan is initiated with determination of final consumers & is done with assistance of market research. Various ways are also identified by manager in order to fulfil needs and requirements of customers in better as well as effective manner. Sales forecast, budget formulation, development of strategies, market situation analysis are all the factors which are considered in formulation of marketing plan. It is a tool that supports business entity in utilizing resources in best possible manner and attaining objectives of company (How to Create a Marketing Plan, 2013.

Overview of company:

Cadbury is one of the well known company which deals in confectionery products. Variety of goods are offered by firm such as drinks, chocolate bars etc. It was established in 1824 and is located in Birmingham, United Kingdom. Many people are employed by Cadbury which assists in providing effective goods to customers.

Vision of Cadbury:

Vision statement of company depicts about to good image of company in future. Main feature of this statement is that it convey about both value and purpose of firm. It administers direction to workforce to perform their roles in effective manner as well as encourage them to work in proper manner. “Work collectively to develop the brand that are loved by people” is the vision statement of Cadbury.

Mission of Cadbury:

Mission statement of firm depicts about main objectives and purposes for the existence of firm. In this, strategic planning is done by firm for deciding goals and objectives of company. “Cadbury means promise by firm for its quality. Company's reputation is developed on quality of product” is the mission statement of enterprise. Constant improvements in chocolates is the commitment of company (Wirtz, Chew and Lovelock, 2013).

Goals and objectives:

Objectives are the main purposes that a firm wants to attain in specific period of time. To become the world's largest & best confectionery company is the goal of Cadbury. Firm execute its activities in more effective manner than its rivals.

In order to frame effective marketing plan, it is necessary for administrator to have detailed information regarding mission and mission of business as it defines about the future position of company and what it wants to attain. Apart from this, objectives and goals should be clearly defined so that these can be fulfilled in defined period of time. They needs to conduct SWOT analysis so that strengths, weaknesses, threats and opportunities can be known by firm. It assists in gaining competitive edge in market.

SWOT Analysis of Cadbury:

Strengths: The major strength of Cadbury is that it is a leader of chocolates in all over the world. Their effective distribution channel ensures its presence in around 200 countries. The firm has strong product portfolio as they offers range of products to customers (Jones and Rowley, 2011). Company enjoy high customer loyalty towards all its products and because of this reason, firm can charge high prices. Apart from this, their promotional activities are very effective and the tag line of firm “ kuch meetha ho jaaye” assists in attracting more customers towards the brand.

Weakness: Rural marketing of firm is very weak due to which goods can not be supplied in proper way in rural areas. Various cases related to product quality takes place in which cockroaches are found in their chocolates.

Opportunities: One of the huge opportunity that firm have is to penetrate on rural market and convert its weakness into opportunity. It will assist in boosting up image of their brand. By providing chocolates with new flavour and taste and bringing innovation in goods, firm can attain large base of consumers.

Threats: Customers are becoming more health conscious which is a big threat for company. Today, many people prefer to drink healthy drinks and eat fruits more so that they stay fit. They avoid to eat chocolates due to this reason. Because of increase in price, firm lose its market share (Lilly, 2014).

STP of Cadbury:

Segmentation: It is the process in which firm divide its market into small sub groups. Cadbury segmentation includes impulse segment, take home segment and break segment.

Targeting: In this, consumers are targeted and products are distinguished according to their class. Target customers of Cadbury is people of every age group.

Positioning: Tag line of company “Real taste of India” defines positioning of goods.

Marketing strategy:

Firm use various marketing strategies in order to enhance its sales and profits. They encourage people to buy their products more (Malhotra, Birks and Wills, 2013). They modify their products as per the taste and preferences of customers which will assists firm in attaining increased growth by 20% yearly.

Marketing budget:

Marketing budget

Particulars

1st year

2nd year

3rd year

4th year

5th year

Initial money

£7000

£9500

£8700

£16000

£24000

Investment

 

£15000

£21000

£33000

£10000

Total

£7000

£24500

£29700

£49000

£34000

Marketing outlay

         

Promotion

£1500

£2000

£2500

£3000

£4000

Sales publicity

£500

£500

£500

£1000

£700

Direct selling

£1000

£2500

£4000

£2000

£3000

Total

£3000

£5000

£7000

£6000

£7700

 Execution:

In this step, plan is implemented by manager in order to attain goals and objectives of company (Berkowitz, 2016).

Evaluation:

In this, managers monitor and evaluate the plan after implementation. They examine all the tools to determine its effectiveness.

D2 Marketing plan with 7P's to attain objectives

Marketing plan is defined as a detailed document that includes all the informations related to activities of marketing. Application of various components of marketing mix facilitates managers in setting right price of product (Blythe, 2012). It also assists in promoting products effectively by using appropriate promotional tools. This will helps in encouraging people more towards the brand.

Conclusion

As per the above mentioned report, it has been concluded that marketing is an important function on which success and growth of firm depends. It includes various activities that helps firm in promoting their products effectively. There are various roles and responsibilities of marketing function which helps in promoting growth of company. Marketing is interlinked with various other functions which supports in successful attainment of goals and targets of company in specified period of time. It is required by manager to formulate effective marketing plan so that benefits and value of products can be effectively communicated to customers. It provides direction to managers in their future course of actions.

References

  • Berkowitz, E. N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
  • Blythe, J., 2012. CIM Coursebook Marketing Essentials. Routledge.
  • Brassington, F. and Pettitt, S., 2013. Essential of marketing.
  • Cavusgil, S. T. and et. al., 2014. International business. Pearson Australia.
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