Cadbury chocolate is one of the second biggest confectionaries in its market, the company offers a variety of products and the products are widely distributed in all parts of the world. In marketing there are two phases; it is a philosophy, an outlook, a panorama or a management orientation that stresses on customer contentment. The second is the activities and processes used to implement these philosophies (Charles, 2011). Marketing involves more activities than just activities performed by a group of people in a department. In the often quoted words of David Packard co-founder of Hewlett-Packard “marketing is too important to be left only to the marketing department” Cadburys chocolate should follow these Marketing philosophies to be successful in the market: In the formation of all a company there are preferred philosophies which they want to run their businesses by. In the 21st-century consumer markets have shifted and now companies have to philosophies favoring the market. Cadbury chocolate should ensure their products will move fast and not stay on the supermarket shelves. This is achieved by strategically pricing of products in this case chocolates, while also ensure good quality chocolates and always available in the market. The market has also largely been influenced by other positive factors affecting sales increase.
Marketing philosophies and concepts of the organization’s approach in service delivery of Cadbury chocolates, this is how businesses run their companies based on, below we have discussed them and how when implemented they can positively or negatively affect business and sales output:
Production Orientation
This concept is the oldest marketing management orientation that guides businesses. The concept states that customers will favor products that are highly available and affordable in the market. Companies adopting this concept run a risk of focusing too narrowly on their own operations and losing sight of the real objection. Cadbury chocolate should ensure that their business objectives are not only focused on them. But also their on their products, Cadbury should ensure the products they are producing should be affordable, competitive and available in order to ensure prosperity in the market. Additionally, the concept causes business myopia since the assumption that clients will buy products for its greater good and availability and pricing does not influence buyer decision. And in today’s consumer market due to the high competition businesses needs to produce good quality goods while also being cautious about the prices. That is prices of the same chocolates on the market from their business competitors while also considering their cost of production in pricing.
Products orientation
The product’s concept believes that the customers will favor products that offer the most quality, performance, and innovative features. The marketing strategies under this concept focus more on continuous product improvements. By use of this concept should ensure Cadburys Company should produce different types of chocolate and ensure variety. This concept is great for those clients who look for quality and don’t mind the price, however, they lose clients are cautious about price and availability of the product. Cadbury chocolate should acknowledge that all their clients prefer the best quality of confectionaries and in doing so they should also remember that their clients want products they can afford. This is greatly due to the large competition who offer same product with the same quality but at slightly lower prices. Even with the most loyal clients, they will deviate due to overpriced chocolates. While conducting market survey Cadbury should look at what their competitors are offering even with their pricing.
Selling Orientation
This concept focuses on the actual sale of the product; selling concept only focuses on making every product sale regardless of the quality of the product or customers’ needs. The main focus is making money and does not involve making relations with the customer leading to sales of their products being quite low. The Cadburys chocolate company should ensure that they do not only focus on the products they are offering for sale but also ensure their products meet client’s needs. The company should acknowledge that customer satisfaction leads to more sells which in turn leads to higher profits making the company successful. Due to their concept, such companies could even deceive their clients to ensure their products have been bought. The company tends to assume that more sales lead to more business to the company. And that is never the case for them since even if they clients buy their products they will not buy again so any customer loyalty.
The philosophy states that companies and firms should analyze the needs of their customers and make a discussion to satisfy them, better than their competitors. Selling concepts cannot let a company last long in the market since it’s a consumers market after all. In the 21st century for a business to succeed and a product to penetrate the market they first of must make products that meet the clients need.
The business by doing so makes relation with the customer to make profits in the long run. Cadburys chocolate company will be wise to implement this orientation method since it guarantees that more products will be sold and no stock will be stuck in their stores. The marketing concept is customer-centered philosophies. The job is not to find customers for your products the job is finding the right product for your customers. Cadbury chocolates should do a survey or a research to get to know how they could serve their customer better. Get to know what preferences of their clients.
Societal Marketing Concept
In addition to marketing orientation, this concept also focuses on society’s well-being as well. The concept wants to serve the market while also ensuring they don’t harm the community’s environment, natural resources while also focusing on the wellbeing of the society. All companies should implement this concept to ensure as they are working they are serving their community. This can be done by promoting environment conservation around them. They should also give jobs to the communities around them or more so be giving scholarships to schools nearby or be enriching their surroundings as positively as they can. As we have discussed above the several factors which are needed for a product to be successful in the market. Businesses need to learn competitors in the same businesses as them; as well as play in the competition this will ensure there is healthy competition. There are also a lot more factors involved in business marketing dynamics that will be discussed below:
Business dynamics and trends keep evolving; the marketing management needs a team that will keep up in them. The following are results of my finding on marketing and research on business dynamics Cadbury chocolate team should implement:
Pricing strategies
Pricing of a product is an extreme and intense issue since its set after a consideration of a few factors i.e. what is your cost of product advertising, salaries and competitors prices offering same products? A company’s management has to put everything into consideration before settling a price. The strategy is combined with other marketing strategies known as the 4ps (product pricing promotion and place) pricing comprises of one of the most significant ingredients in marketing as it focuses on the generation of revenue for the organization (SHETHNA, 2016). Cadbury chocolate organization should aim to understand the market’s unmeet customer’s desires that the customers are willing to pay rot. While keeping in mind the ultimate goal of the company is to increase profits
Cadbury chocolate also set prices on products using different strategies, such as when trying to penetrate the market the company might choose to put a lower price in order to attract clients or as the name suggests penetrate the market. Pricing dynamics are very important since clients are looking for products they can buy confidently, with a correct pricing. Customers also don’t want to buy under quality goods just because the price is lower. Cadbury chocolate should create a balance between selling their clients quality products and being competitive in market prices.
Strategy development
A strategy is a way of describing how things are going to be done. It is less specific about how and who but it broadly gives ideas. A good strategy will take into account overall barriers and resources while state the overall vision, mission and objectives of the initiative. Objectives show the aims of an initiative and give an idea of what success will look like. A good strategy has criteria on which it follows: which are giving direction, fit resources and opportunities and minimizes resistance and barriers. A good business plan should always include strategy development, from time to time so as to ensure they are moving in the right direction. Strategies will show new opportunities which should be perused by the organization, respond effectively to barriers and a more efficient use of time and resources in an organization. Every company from time to time should have new strategies which are important to the company and act as scorecards to check where the company was and how far it has come. Lack of new strategies can lead to the company were losing sight of where they were going hence limit progress and lack of acknowledgment of new opportunities. This is why employers are encouraged to employ open-minded individuals who will bring new ideas to the company.
Strategy Implementation
A great business vision even when combined with great business plan needs a good strategy and more importantly strategies on how to implement them. Marketing implementation strategies require a purposeful tactical marketing plan aligned with great business plans involved. Implementation needs a broad perspective which is why companies are advised to source for seasoned executives working from outside (chief outsiders, n.d.). They will come with ideas of how to implement strategies that are different from what the companies might have had but are quite helpful. Whether it is the introduction of a new product in the market or implementation of your annually marketing plan you should have a “your go to market strategy” defines how you will reach the marketplace. Every company should have a channel in which they implement their strategies. A company could have the best ideas and visions but if the implementation of those strategies is faulty all the great minds that put ideas together thoughts would have gone to waste. And for a company to succeed it requires good implementers of new ideas as well as great, minds who come up with them.
Marketing Techniques
The marketing techniques used by a company great fact in consideration of their increase in sales. Using different forms of marketing will bring clients but at a different rate also considering the channels used by a company to market its products. In the social media era, most companies are finding marketing more effective over social media this is due to the high number of the population they can access over the internet every day. Other modes of marketing include billboards; TV and radios will have shown to be quite effective. But marketing also needs strategies when being created since a small business or new business cannot compete or use the same channels of advertising as a business that’s been in the market (Kimbrell, 2015). Also when marketing organizations should have it targeted viewers or population to avoid information landing to the wrong group of people. Make the adverts feel personal like they are talking directly to the client. If done well, advertising can greatly help increase revenue for the company as well as bring clients. But when not done correctly advertising will cause a company to lose revenue and wasted time in the marketing department.
Technological development has had a great influence on the business world it has enabled businesses to be strategically placed on the world map that where ever one is the can connect with all other businesses. In today’s world, one can even make sales and receive payments without meeting the client face to face. This is all thanks to technology online selling is very rampant that some people run businesses from the comfort of their own houses and receive sales proceedings safely. Other companies around the world sell products directly to the user in different continents all thanks to technology. With these technology advances, businesses should take make policies that are technological friendly; even at the office’s technology helps reduce loads of work.
Companies that use technology are termed as up to date and can conduct business more efficiently than those who are still behind on technology. For example, companies using online payment, modes are likely to get more clients even due to convenience. Use of technology in the office also creates a more professional environment with neat works done. Technology also promotes uniformity of products as well as paperwork and lastly, technology enables easier to retrieve/access and more convenient storage of files.
In most cases, these factors form around customer satisfaction. Client satisfaction is one of the main reasons for product performance. Satisfaction is the fundamentals to the well-being of the customers, to the firm’s profits through purchase and patronization and to the stability of economic and political structures (Oliver, 2014). Customer satisfaction is one of the most important dynamics in marketing. The customer a company deals with determines whether the company will progress in the market or will fail. When customers are well taken care of you are guaranteed that they will come back and buy your products. They can also help greatly by putting in a good word of mouth for your company leading to more sells. When not happy customers will make sure they don’t try your product which according to them they were disappointed and will also put in a not so good word of mouth leading to decrease in your sales. As a company, you should strive to make customers happy.
The research I recently conducted showed that external business affecting factors can be used to enhance the firm positively but when not careful firms can fall victim to them. But businesses should use such information to their advantage.
As the newly appointed marketing manager in Cadbury dairy chocolate, I would make use of the above findings to improve the company. I would do this by increasing revenue, making our brand more stable and increasing market share.
As the newly appointed manager of Cadbury dairy company, I would work with my marketing team to ensure that our company has the best reviews on our chocolate products. I would work hard to ensure that we are using effective marketing channels to ensure we draw traffic to our chocolates. Also, we would work on getting to know what chocolates they would prefer, what clients are looking for in the market, we would work on client retention as we work on getting new ones. The more client returns the more products we will be selling. I would also implement the production orientation process and make good quality products for clients with reasonable prices.
David a sole entrepreneur at legal firm talks to his accountant after finding out that his company’s revenue has deteriorated and he was facing consistent cash flow problems. He was involved in a frank talk with his accountant. The accountant asked him the number of hours he worked in his own firm per the year 2000 maybe he answered. The accountant then asked him to divide his salaries/ profits by the number of hours he worked to see how much he would have been earning if he was employed by someone else. David calculated this in addition to the hustle of running his own company the conversation changed David’s perspective on his work, being actively involved in a firm’s day to day helped his company, now his financial problems are a thing in the past(Howells, 2017)
Market share
The best way to improve market share is by increasing the volume of the currency and number of transactions annually. This is best done by gathering necessary information about volume and price to determine market growth. This can easily be achieved especially when the company has all the facts right about consumer market involved.
To ensure brand sustainability I would work to ensure our company joins other companies to work together (Baranowski, 2008) with technology customers are becoming more saved than before. Co-ownership leverage to create value, companies are no longer owned by brand names but by stakeholders who test challenge and authenticate brand promises. For consumers’ employee government agencies stakeholders and NGOs, I would involve all of them in decision making but as proactive partners advisory and consultants. I would also create more space for shareholders to come and aid in decision making as they make contributions on products and services of the company.
There are also other external factors that affect the business which are PEST being an abbreviation of Political, Economic, Social and Technological factors. A PEST analysis helps to determine effects of the business performance in the long run. Cadbury chocolates before going directly into analysis it’s good to get and understand these factors better.
Political factors: here the government regulations and legal factors are govern the business (Gimmer, Steward 2013). These regulations play a big role in the company. Since some of the rules might be favorable to the company while others are not. For example companies might experience a head time in business in times when the tax are high hence leading to high overall price of the products. And as we have seen above pricing is a very important factor in product selling. Governments can also put up favorable regulations to promote upcoming business or invite investors to a country.
Economic factors: consumer behavior, employment factors, banks and interest rates affect businesses and organization. Unemployment levels in an economy means less people have the capacity to actually buy products. While consumer behavior and confidence level of a product will affect how they will purchase the product. High bank interest rates will increase the overall cost of production and debts, this will eventually affect the products price.
Social factors: taste and preferences of consumers change from time to time due to different factors such as age, lifestyle, family, availability and affordability. The young generation prefers buying products online while the older generation prefers to actually go shopping. And different people live different lifestyles that will lead to clients buying products matching their lifestyles.
Technology factors: technological factors affecting business might not be seen easily but are actually there and play a big role. Automation of unskilled labors allows company to reduce employees and start use of computers which are more efficient, fast, and more accurate. This has both positive and negative effects in the company and its employees. Internet connectivity allows business to run easier by use of emails, online advertising and making sales. Technology has also enabled meetings to be conducted even without all members in the same location physically e.g. via skype. Technology has also enabled easier storage of files and greatly reduced paper work and storage. All this might seem normal in today’s world but every organization running would be different.
Conclusion
In today’s consumer market there is a lot of competition that when a business organization has to do their marketing intelligence to be successful. Companies should work on achieving customer satisfaction which is the main determinant of a company’s survival in the consumers market. Customers are looking for products that will serve all their needs altogether that is price wise, availability, and usability. Business when starting operations should carefully choose the concept that will lead them to profitability and success. However, discussed for businesses to stay in the market successfully a lot of factors have to be considered. There are factors which companies can control which are mostly internal but external factors company cannot really control. Other factors are such as the PEST analysis cannot be controlled by the business. Cadbury chocolate should learn about all this factors affecting running of the business. For this to happen the company should have qualified staff and personnel to always come up with new and fresh ideas. Then those ideas should be put into practice to ensure the company continues growing.
References
Grimmer, J., & Stewart, B. M. (2013). Text as data: The promise and pitfalls of automatic content analysis methods for political texts. Political analysis, 21(3), 267-297.
Baranowski, R. B. (2008 , september 22). sustainable bramds . Retrieved from The Five Principles of Sustainable Branding: https://www.sustainablebrands.com/news_and_views/articles/five-principles-sustainable-branding
Brian Webb, F. S. (2008). Information Technology and Competitive Advantage in Small Firms. Routledge.
Charles W. Lamb, J. F. (2011). Essentials of Marketing. Cengage Learning.
chief ousiders . (n.d.). Retrieved from Expert Marketing Strategy Implementation: https://www.chiefoutsiders.com/strategic-services/marketing-strategy-implementation
Howells, D. (2017, February 28). haelle douglass. Retrieved from Case study: improve business profitability: https://www.halesdouglass.com.au/case-study-improve-business-profitability/
Kimbrell, G. (2015, april 27). Enterprenuer . Retrieved from 6 Steps to a Dynamic Multichannel Marketing Strategy That Gets Results: https://www.entrepreneur.com/article/245360
Oliver, R. L. (2014). Satisfaction: A Behavioral Perspective on the Consumer. Routledge.
SHETHNA, J. (2016, april 26). EDUCBA. Retrieved from 10 Most Important Pricing Strategies in Marketing (Timeless): https://www.educba.com/pricing-strategies-in-marketing/
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