Marketing Coursework on Cadbury Essay Example

Marketing Coursework on Cadbury Essay Cadbury is a successful company known for its chocolate bars. The market is very competitive and it is becoming more and more difficult to find new products that achieve long term success for the company. I have been given the job as sales and marketing director for Cadbury and I have to develop a new product for the company. Cadbury is a successful company well known for selling chocolate bars. Over the past 10 years Cadburys have produced a wide range of chocolate bars aimed at different target markets, which has had varied degrees of success, both in the uk and abroad. However the market is getting more competitive and it is becoming a lot harder to produce new products for long term success for the company. 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John Cadbury experimented with the cocoa using his mortar and pestle and produced a wide range of cocoa and chocolate drinks. Later on John added sugar and sold his products in a block which was added to hot water or milk. John Cadbury promoted and advertised his products until he rose to being one of the leading tradesman of Birmingham and helped his shop grow. Soon later he became one of the first cocoa and drinking chocolate manufacturers. Benjamin Cadbury the brother of John joined the company and they became the Cadbury brothers of Birmingham. A larger factory in the centre of Birmingham was bought. Taxes on cocoa were dropped which made chocolate available to a wider selection of people so the business boomed however the partnership ended and John retired living his sons, George and Richard to run the business and they became the second Cadbury brothers of Birmingham and were awarded their first Royal Warrant. The brothers discovered process for pressing the cocoa butter from the cocoa beans. This allowed the brothers to sell a new cocoa essence and all sorts of new types of eating chocolate which had never been made before. The business outgrew the bridge street factory so the brothers moved to a Greenfield site which later was called Bournville. The business carried on growing and the brothers started producing milk chocolate for eating which would not be of good quality now but at the time was a revolution and their was big competition with the Swiss and their fancy chocolate. Richard had a sudden death and George became the chairman, Richard and Georges sons became directors and Cadburys growth did not decline. By the 1900s all sorts of chocolate products were being made and Cadbury released their first and biggest selling brand Cadburys Dairy Milk. Cadburys today has factories all over the world and still maintains in being one of the biggest chocolate confectionary companies in the world. Cadbury Products Cadburys brand has a wide consumer base with all ages and types of people buying it. This means that Cadburys Dairy Milk was never really targeted at a specific market. This was because Cadburys Dairy Milk is an old product but its repretation from the past allows it continueing in being one of cadburys leading products. Fuse was launched in 1996 it is packed with lots of snacking ingredients and is aimed at those people whose fast moving lifestyles find them snacking. The target market is the 16 to 30 years the ones who are usually snacking. More than 250 different ingredients were tested in the making of this product. It took 5 years of planning to launch the fuse and cost 10 million pounds. It was mainly made to fill there gap in the developed market. When the fuse bar was launched it was a massive success and rose confectionary goods bought up within the year. Target Markets Most products produced today have aimed their products at a specific group of people like say a drill is targeted at a man who does some DIY or a sewing machine more at older women etc. This is easy enough but when you get further down to something less specific like confectionary goods each different brand but the same thing a chocolate bar still try and target different groups or into different groups for why they are bought. For example Cadbury roses is a product that is not bought for self indulgence or for snacking but more for a gift for someone else. However a regular Cadburys dairy milk would not be bought as a gift but to eat yourself or perhaps share with friends. These little groups are called market segments and these segments are usually where the products are aimed. Marketing Map I have decided to make a marketing map to see where most confectionary brands lie and in which category. These categorys are: * Snacking The chocolate bars you eat when you have no time for a meal or just to quench your hunger for a little while longer. * Gift The Chocolate selections you would buy someone as a gift like on valentines day or for their birthday etc. * Indulgence Something bought for your self-pleasure, maybe bought as a privilege. * Gutfil These are the chocolate bars you would buy to fill yourself up a little. Like you have no time for dinner so you buy a chocolate gutfil bar. * Sharing These are the chocolates you would buy and share out between your friends if you dont want to be selfish. * Casual Indulgence These are the brands, which like indulgence are a bit of a treat. Easy to eat and bought more frequently than indulgence brands. This is my finished result: I have decided that there is a gap in the casual indulgence and Sharing because of the lack of brands in these circles. Both have only 3 products in them however as I tend to buy more casual indulgence brands than sharing brands myself I think I will aim my brand at the casual indulgence section. Market Research Marketing is the identification, anticipation and satisfaction of customer needs and wants at a profit. To decide the best way to market a product first I need to carry out market research. The market research is based upon four factors, which are Price, Product, Promotion and Packaging.