Essay About Objective Market Of Customers And Product Design

Marketing
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Marketing is the way in which an organisation matches its own human,
financial and physical resources with the wants of its customers.
Seeing as many organisations continue in business over relatively long
periods of time, it is necessary for them to plan the human, financial
and physical resources they have to offer their customers.
On the whole individuals think that marketing is simply about the
advertising and personal selling of goods and services. Advertising
and selling, on the other hand are just two of the many marketing
activities. In most cases, marketing performances are all those
connected with identifying the particular wants and needs of a
objective market of customers, and then going about satisfying those
customers better than the competitors. This involves doing market
research on customers, investigating their needs, and then making
tactical decisions about product design, pricing, promotion and
distribution.
The company that I am going to look is a well-established chocolate
company Cadburys. The company does put the customers first making
them marketing orientated but mainly to younger customers by making
their products affordable and appealing to children. They advertise
their products in many ways. Cadburys research on what types of
chocolate they can make to satisfy their customers resulting in a
company with multiple products from a standard chocolate bar to Easter
eggs and ice cream to cakes targeting a wide range of customer needs
in food products. Cadburys use the principles of marketing in
providing the needs of the customer such as customer future needs and
customer satisfaction, the needs of the organisation such as products
and markets and the influence of the market such as their competitors
and legal factors. The needs of the organisation are profit and
stakeholder fulfilment. The needs of the customers are future needs,
customer perception and contentment.
The marketing principles of Cadbury’s are:
Ð* Products and markets
Ð* Co-ordinated marketing
Ð* Policy
Ð* Efficiency
Ð* Competitors Legal factors PEST factors
Ð* Who and what they are statute law and trade awareness of changing
Ð* Agreements environment
For a company like Cadbury’s to be successful they have to develop a
product. This would mean developing an existing product from the
market for an existing market. The Ansoff’s matrix shows, that there
are four promising strategies.
Market Development is where a marketing strategy is where a business
focuses on trying to make their existing product development
remarkable at a new line of customers. This can be unsafe for a firm
because they have not dealt with new customers before so therefore
they are not experienced.
Market penetration is all about the growth of the market share. Market
penetration suggests a further penetration of existing markets with
existing products. This method is very safe and easy to use because
the business has great knowledge of this already. Market penetration
exists products to gain a larger share market.
Product development is where a marketing strategy is a bout a company
trying to develop a product that they are selling now. Most companies
maintain to develop their product so it keeps on recuperating for some
businesses to survive in the industry this is necessary.
Diversification is when Cadburys develop a completely new product
where they are entering a new market. Something that Cadburys have not
manufactured before. This is the most risky strategy because the
business will be entering a new market, which has new competitors and
customers. In addition they will be working with a new product that is
not guaranteed to be a hit.
The first step in developing a marketing strategy is to understand
your customers, enabling reaction to their changing needs and the
changing dynamics of the market. We must conduct several stages of
in-depth