Marketing Analysis Of Chocolate Manufacturer Brand "Cadbury Company" (Essay Sample)

cadbury marketing analysisESSAY Name School Date Lecturer Abstract Cadbury is a chocolate manufacturing company formerly from the UK. After effectively positioning itself in the markets of U.S and Europe, the chocolate giant entered the Asia market with the goal of expanding its horizon competitive globally. Cadbury has developed an excellent marketing strategy of placing itself as per the taste and preference of its target customers, in the various chocolate markets around the globe. In this report, we have done the marketing analysis of the company, market segmentation, targeting and positioning strategies used by Cadbury. Further, we will also analyze the marketing mix the company adopted as well as recommendations to increase customer base. Keywords: Cadbury Chocolate, segmentation, targeting, positioning, marketing mix, marketing strategy. Table of Contents TOC \o "1-3" \h \z \u Abstract PAGEREF _Toc524205322 \h 1Introduction PAGEREF _Toc524205323 \h 3Marketing strategies PAGEREF _Toc524205324 \h 3Segmentation PAGEREF _Toc524205325 \h 3Target marketing PAGEREF _Toc524205326 \h 4Positioning PAGEREF _Toc524205327 \h 4Marketing Mix PAGEREF _Toc524205328 \h 4Product PAGEREF _Toc524205329 \h 5Place PAGEREF _Toc524205330 \h 5Promotion PAGEREF _Toc524205331 \h 6Conclusion and recommendation PAGEREF _Toc524205332 \h 6References PAGEREF _Toc524205333 \h 7Appendices PAGEREF _Toc524205334 \h 9Appendix1 subsidiary firms PAGEREF _Toc524205335 \h 9 Introduction Cadbury is a chocolate manufacturer brand originally from the UK. It is one of the average sold chocolate brands in the U.S. market CITATION Wor18 \l 1033 (Cadbury, 2018). Cadbury has developed an excellent marketing strategy of placing itself as per the taste and preference of its target customers, in the various chocolate markets around the globe. This strategy has helped the chocolate brand to compete with other chocolate brands globally. This essay deals with the Segmentation, Targeting and Positioning strategy of Cadbury Chocolates as well as different marketing mix used to achieve an optimum level to strategically position and promote the brand. Marketing strategies A ‘market' is a group of customers who exhibit similar needs and can satisfy those needs CITATION Luc \l 1033 (Luckham, 2015). The methods by which markets divided into different segments to target the right customer hence to position itself in the market properly. Market Segmentation Segmentation is the segmentation of markets into homogenous groups of customers, each responding differently to the promotion, communication, pricing and other variables of the marketing mix. Marketers use more than one base to segment the market and identify the target market. Such as geographical units such as region, size, population, and climate. Demographic segmentation is the segmentation of customers based on factors like age, income, purchasing power CITATION Bos162 \l 1033 (Bosch, 2016). Psychographic segmentation: Cadbury dairy milk product segmentation is done by ‘size' as bars, small blocks, large blocks. Geographic segmentation is also done by dividing the market into rural, urban and semi-urban. Behavioral Segmentation is used to separate the market into those who use chocolate for eating then and there and for gifting it to someone. Target marketing Target marketing helps to decide which market to enter of all the available markets. Since the level of competition in Singapore is very low due to the lack of competitors, it was easy for Cadbury to enter its market and position its products there. The company tried to target the luxury segment of the market as it comprises the brand’s most suitable target audience. As per the market research, there is a rising demand for chocolate in the Singapore markets CITATION Jam15 \l 1033 . Analysing logically, Cadbury has mainly targeted only the children aged between 4 to 16. However, to reach a perspective target group into an infinite age group, Cadbury has introduced new products (Gareth, 2015). Positioning Cadbury has tried to target the luxury customers in the chocolate lovers’ segment of Singapore market. To cater to a niche audience, Cadbury came up with the idea of customized chocolate for its customers. The need for studying the culture of the people was critical to decide upon the places being accessed by the higher segment of the people. Thus, they decided to sell the chocolate through their chain of stores to cater to a niche category of chocolate lovers CITATION Kat11 \l 1033 (Katarina & Stensaker, 2011). Marketing Mix A marketing mix can be referred to as a planned mix of the controllable elements of a product's marketing plan, commonly termed as 4Ps: product, price, place, and promotion. (Kotler, 2003).. Cadbury Chocolates has a market strategy which is flexible enough to enter and survive in any market in the world. The marketing strategy focuses on the cultural aspect of the particular country it wants to expand in as it is utmost crucial when trying to establish itself on culturally rich nations CITATION Han14 \l 1033 (Hancock, 2014). Product In the marketing mix, the product or service is the most crucial element. Customers acquire product for the singular reason that they are perceived as a means to satisfy their needs and wants. As per Philips Kotler, "A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want." CITATION The \l 1033 (The Reinvestment Fund, 2011). Cadbury's vast range of chocolate products include Truffles, Pralines, Ganache, marzipans, chocolate bars, botches, fruit flavors and many more CITATION Wor18 \l 1033 (Cadbury, 2018) These strategies have helped the company to make its place among middle-class customers and expand its market reach too. Pricing The pricing strategies of a company impact the volume of sales. It is a value that will purchase a specific quantity, weight, or another measure of a product. Cadbury is one of the largest selling chocolate brands due to its effective strategy in its pricing policies. Cadbury pricing strategy is such that even if there is a recession, it doesn’t affect the sales of the company as the emotions that are conjoined with this brand for its customers stays unparalleled. But the brand value created by the company makes people forget the pricing set by them in the market, as people don’t want to compromise on the quality part of the thing they love for its price CITATION Lee14 \l 1033 (Lee et al., 2014). Place Place mix deals with the physical distribution of products at the right time and right place. Cadbury pricing was kept higher initially. Thus, it was available only in malls and exclusive chain stores of the company. To reach to a broader segment of the society, Cadbury Chocolates was being made available in local grocery and drug stores, so that local people and commoners can also get access to it as seen in appendix 1 This was with the focus of changing the brand perception from only gifting purpose to more casual buying like for personal consumption use CITATION Han15 \l 1033 (Han, 2015). Promotion Promotion includes the features and benefits of the products to its target customers. It is the crucial element of marketing programme that is used to favorably influence target customer’s perceptions to facilitate exchange between the marketer and the customer CITATION Hei13 \l 1033 (Heinze et al., 2013)r. To reach to a broad segment of people, Cadbury initiated a web-based promotional strategy where they would distribute free samples and have coverage of the details of the visitor....