QAM020L061H Strategic Marketing Assignment Sample

Strategic Marketing Plan for Cadbury Vitamin Chocolate: Fusion of Health and Indulgence

Part 1

Product Description

1.1 Introduction

Strategic marketing constitutes the deliberate preparation and carrying out of long-term strategies that generate advantages over rivals, meet goals and satisfy client requirements effectively. The renowned chocolate company Cadbury, established in 1824, provides a wide selection of sweets and chocolates that are loved all over the world (Cadbury, 2023). Cadbury is a well-known symbol of pleasure due to its superior flavor, craftsmanship, and innovation. A thorough marketing approach and execution plan are presented in this document for the launch of Cadbury Vitamin Chocolate that comes in individual squares. This report provides a widespread advertising approach and implementation strategy for Cadbury Vitamin Chocolate product launch, an innovative product that integration engaging with health. The report examines market trends, divides the target market into categories and provides techniques for successfully positioning and promoting the product.

1.2 Improved product description

Consumer preferences have changed lately to choose more nutritious foods without sacrificing flavor or fun. The rising demand of functional foods nutritional products that go beyond providing basic sustenance reflects this trend. Consumers today are more concerned about their physical health and look for products that enhance their quality of life. The desire for better alternatives is met by adding vitamins to a favorite delight like chocolate. A lot of individuals find it challenging to regularly include vitamins in their diets (Quesenberry, 2020). By giving enjoyable approach to fulfill daily vitamins requirements, Cadbury new product offers a best alternative. As an established business, Cadbury may use its trademark to advertise this new product. The company's proven track record in providing quality and flavor will give the product's health claims more weight. The food industry's major engine continues to be development. Cadbury offers an innovative solution to this customer need by fusing the internationally adored allure of chocolate with the ease of obtaining daily necessary vitamins.

Part 2

Critical Analysis Of The Market Context

2.1 Key market trends

The market for confections has seen shifts in patterns, with a focus on consumption which is more health aware. Consumers are increasingly searching for goods that support their wellness objectives without compromising on flavor. The need for functional foods is rising, and the confectionery market is changing towards customers' health-conscious tastes. According to a study by Grand View Research, the worldwide multifunctional chocolate market is anticipated to grow at a CAGR of 3.7% between years 2022 to 2030. This suggests that Cadbury Vitamin Chocolate, which blends enjoyment with health, has a large potential customer base.

Figure 1: Chocolate Market Size

(Source: Grand view research, 2023)

2.2 Key competitors and their position

Competitors in this market area include major businesses in the chocolate sector such as Nestlé, Hershey's, and Mars. They frequently have a selection of classic chocolates, although few have dabbled with useful chocolate. Cadbury enjoys an edge because to its well-known brand and long history of excellence. The suggested Cadbury Vitamin Chocolate may take use of this popularity to establish itself as a unique treat with extra health advantages (Morgan, et. al. 2019). A deliberate strategy is needed for marketing Cadbury Vitamin Chocolate within the marketplace effectively. The product may be marketed within the category "Premium Indulgence alongside Improved Wellness" by using Cadbury's Chocolate powerful brand familiarity and quality heritage. This positioning aims to differentiate the product apart from conventional chocolate and other functional options while capitalising on the product's flavor and health advantages.

2.3 Current customer behaviors in this market

Consumers are growing increasingly picky about their dietary choices and health-conscious. They look for goods that support their dietary goals and provide perks beyond just basic nourishment. According to Mintel research, 52% of US customers consider the health benefits of confectionary items before making a purchase. However, taste continues to be a significant determining element in purchasing decisions. By providing a solution that caters to both nutritional needs and culinary preferences, Cadbury Vitamins Chocolate can capitalize on this emotion (Calvo Dopico, et. al. 2021). Consumer behavior is changing in the contemporary marketplace to priorities both flavor and health. This is particularly true in the candy industry, where there is an increasing demand for goods that provide dietary fiber without sacrificing flavor. However, taste continues to be a key factor in influencing consumer decisions.

2.5 Main opportunities

The opportunity to fix the nutritional gaps in customers' diets is considerable. Numerous individuals struggle with sustaining balanced meals as their lifestyles get busy. To fill these gaps, Cadbury Vitamin Chocolate might be an efficient and delightful option. Chocolate is frequently linked to feelings of warmth and joy. By capitalizing on this psychological association, Cadbury Vitamin Chocolate may market itself as both a nutritious complement and a source for comfort and everyday joy. Consumers are becoming more concerned about where products come from as well as how production impacts the environment (HIDIRO?LU, 2019). Cadbury's dedication to ethical business practices and environmentally friendly production may be used to improve the product's attractiveness. Additionally, ethical manufacturing practices and openness in ingredient sourcing might draw in customers who are concerned about the environment.

Part 3

Segmentation, Targeting And Positioning (STP)

3.1 Segmentation

To successfully reach and cater to the various tastes of consumers, the Cadbury Company Vitamin Chocolate uses an array for psychographic and demographic segmentation. With the assistance of this segmentation tactics, the product may be tailored to consumers' healthy attitudes and lifestyle preferences while also taking into account their socio-demographic traits.

3.2 Target market

• Psychographic Segmentation: Consumers that priorities health and wellbeing in their lifestyles are the target audience for this strategy. Individuals who deliberately seek out items that improve their overall health without sacrificing flavor will be drawn to Cadbury Vitamin Chocolate (Kubicki, 2023). These people are aware of the nutritional worth of their food selections while also looking for ease.
• Demographic Segmentation: People aged 25 to 45 are the target market for the product, as they are more likely to have a high priority on health and nutrition. The ease with chocolate's daily vitamin dose appeals to this sector because they frequently lead hectic lifestyles.
• Targeting: Individuals between the ages of 25 and 45 who are concerned about their health and live in cities and suburbs make up the primary consumer demographic for Cadbury Vitamin Chocolate (Kassab, 2023). These consumers have an interest in function meals that support their wellness objectives and are willing to spend money on goods that give real health benefits along with pleasurable sensory experiences.

Profile and Persona:

Differentiation from Past Targeting

Cadbury's target market for its chocolate is more specialized and restricted than it has historically been for its other goods. This product primarily appeals to those looking for both taste gratification and dietary advantages, in contrast to earlier commercials that emphasized the broad attraction of chocolate. Achieving health goals while forgoing enjoyment is a difficulty that customers have to conquer, and Cadbury Vitamin Chocolate offers a solution. The product offers a quick and delicious approach to ingest vital vitamins, addressing the issue of deficiencies in nutrition in modern diets (Reddy, et. al. 2023). It's an everyday indulgence that supports wellness goals and offers a guilt-free choice for people who want to strike a balance between their well-being and enjoyment.

Value Proposition

Customers of today struggle to get enough critical vitamins into their diets on every day, which is one of the main issues that Cadbury Vitamin Chocolate seeks to solve. Many people struggle with sustaining balanced nutrition due to hectic schedules and diverse eating habits. By providing a daily dosage of vitamins in a delectable form, Vitamin Chocolate provides a practical answer. This product gives customers a pleasant sensation while saving them their energy and time. The updated product caters to those with health concerns who are reluctant to give up taste, offering a distinctive equilibrium between enjoyment and utility. Consumers may easily fill up on nutrients in their diets through incorporating Cadbury Vitamin Chocolate into their everyday eating habits. Their desire for wellbeing is met by this creative solution, which offers an guilt-free method for them to indulge in their favorite treat while experiencing real health advantages. The segmentation method used by Cadbury Vitamin Chocolate, which incorporates psychographic and demographic criteria, effectively targets urban and suburban people between the ages of 25 and 45 who have concerns about their health. The value of the product is found in its capacity to fill dietary shortages while offering a sumptuous flavor. The company's unique positioning sets it in addition to Cadbury's prior targeting strategy and fits well with the changing tastes of contemporary consumers. Part 4

Marketing Mix

4.1 Product

Cadbury Vitamin Chocolate symbolizes a revolutionary fusion of delicious engaging and holistic health. This product sets a new benchmark in the confectionery industry by having been created to satisfy the discriminating preferences of health-conscious consumers. Vitamin Chocolate's branding emanates an air of superior quality and wellness consciousness. The box's concept strikes a careful balance between the traditional visual brand of Cadbury and subtly highlighting its health advantages. Potential clients immediately become aware of the product's unique selling point thanks to this strategic strategy (Nanayakkara, 2020). The product's essence may also be seen through the packaging, which prominently displays the vitamin contents. The product's commitment to enabling informed decisions is reaffirmed by the addition of calories on the package. This dedication goes beyond simple labeling by providing consumers with an engaging online environment that informs them about the value of vitamin and its contribution to health. Consumers can better grasp how a product contributes to their health goals with clear, comprehensive descriptions. Besides flavor and health, Cadbury Vitamin Chocolate provides high-quality service to its clients. Customer service that responds quickly makes ensuring that questions are resolved for customers, which improves their shopping experience.

4.2 Price

The pricing plan for vitamin Chocolate has been carefully designed within a based on value approach. Competitive pricing strategy will be followed by Cadbury with the motive to attract target market about the new product. The product is positioned as an exceptional product in the confectionary industry because of this approach, which combines its distinctive dual premise of excellent flavor and significant health advantages. The item is a purchase in both enjoyment and wellbeing, not simply a simple a reward. Given the tremendous value it provides, the product costs higher than conventional chocolates, and appropriately so. With every piece, consumers experience the well-known pleasure of Cadbury's famous flavor with the extra benefit of crucial vitamins. With this combination, customers are certain to experience both instant joy and long-term health benefits. The target market's principles of wellness are a wonderful fit for the cost approach. Consumers who prioritize their well-being realize the value of spending money on products that improve their health (Karim, et. al. 2021). They see the fee as a measure of their dedication to optimal wellness, not just a figure. The cost of Cadbury Vitamin Chocolate is in line with the readiness of the target market to spend money on expensive products that satisfy their nutritional needs.

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4.3 Promotion

In the age of interaction, Cadbury Vitamin Chocolate's advertising strategy makes effective use of digital media to engage with its target market of health-conscious customers. The company utilizes the adaptability of online platforms through a diverse strategy to raise awareness, inform, and interact. The promotional approach for Cadbury Vitamin Chocolate puts a significant value on social media marketing. Engaging material on websites like Facebook, Twitter, and Instagram highlights the characteristics, advantages, and profound benefits that the product provides. The material illustrates the manner in which the product easily fits into the healthy habits of the target market. Consumer testimonies are included because they give real feedback that increases trust and reliability. The brand's effect and reach are increased by collaboration with wellness and health influencers. These influential people, who already have authority over the target market, turn into brand evangelists by attesting to the product's benefits for health based on personal experiences. The significance of content marketing is informing customers about the health advantages of the product cannot be overstated. The business produces and disseminates educational articles, movies, and infographics that explore the value of vitamins, the difficulties of contemporary nutrition, and the way Vitamin Chocolate may help. Through engaging consumers in ways other than just the product itself, this material portrays the company as a leading source of knowledge. Professionals in nutrition and health deliver webinars, live events, and Q&A sessions to improve the customer experiences (Reddy, et. al. 2023). These interactive websites enable customers to comprehend the nutritional advantages of the product as well as how it matches with their wellbeing objectives. Direct interaction with subject matter specialists additionally addresses any concerns or skepticism, producing a more knowledgeable and self-assured consumer base. Cadbury is able to launch customized web adverts with extreme precision because to data-driven insights. The exact distribution of the promotional messages increases the likelihood of conversion. By strategically utilizing data, it is possible to maximize the promotional impact by making sure the correct message is delivered to the right audience at the correct moment in time.

4.4 Place

The distribution plan for Cadbury has been meticulously developed to fit in the changing lifestyles of the wellness-conscious consumers it seeks to attract. The objective of the plan is to provide accessibility and convenience via a comprehensive omni-channel strategy that takes into account physical as well as digital preferences. The product can be found at variety different retail locations. Cadbury's new product make sure that its target demographic is within easy reach of it through putting it at places like traditional supermarkets and specialized health food stores. The business is aware of consumers that care about their health shop in an array of locations, and this tactic take advantage of that behavior. Collaborations established retail chains that cater to the health market help the product stick out in its target market (Hanaysha, et. al. 2021). These partnerships not just increase brand recognition but also bring the good into line with the ideals and goals of consumers who worry about their health. Placement of the product at these businesses reinforces the brand's dedication to wellbeing. Vitamins Chocolate creates a thorough web site in recognition of the importance of digital accessibility. By acting as a direct sales channel, this system provides ease at the touch of a button. Additionally, subscription options accommodate the busy lifestyles of the target market and guarantee a hassle-free shipment of the good over time. The internet platform is not only a sales site; it also acts as a centre for knowledge. Consumers are better equipped to make choices when they have an in-depth understanding of the product's advantages, nutritious worth, and health benefits (Kassab, 2023). This transparency supports the brand's dedication to consumer education. The distribution approach is innately aware of the hectic schedules and time limitations faced by consumers who have worries about their health. Part 5

A Discussions Of Implementation Issues

The execution of the Cadbury's Vitamin Chocolate marketing plan faces an array of difficulties, from internal coordination to financial allocation. It is crucial to coordinate activities amongst numerous divisions to create a consistent strategy. To keep the plan in track, divisions such as marketing, production, shipping, and customer support must collaborate and communicate effectively. Smooth collaboration among departments is necessary for successful implementation. Production must be informed of the finer points of the marketing plan so as for the product to live up to the health and flavor promises. To insure that product reach the intended outlets, the distribution routes must be in line with the strategy. The customer care team has to be able to respond to questions and comments on the unique features of the product. For implementation to be effective, internal marketing is necessary. The strategy's significance and value must be accepted by the whole organization. It involves training staff members on the value proposition of the product as well as how it meets the demands of the target market. Consistent message and excellent service are guaranteed at all touch points via internal buy-in. Appropriate allocation of resources is necessary for the marketing strategy's implementation. This covers setting aside money for influencer partnerships, creation of content for digital marketing efforts, and product delivery. The accessibility of human resources that can effectively carry out each aspect of the plan is also essential. This might entail adding specialists in well-being, health, and digital marketing or up skilling current employees. The implementation procedure has to be flexible enough to change with the dynamics of the market. The strategy needs to change over time due to changes in consumer tastes, wellness and health trends, and developments in digital media. To maintain the strategy in line with the reality of the marketplace today, regular evaluations and modifications are required.

References

Books and Journals

• Calvo Dopico, D., del Castillo Puente, Á.M. and Arias Montero, S.R., 2021. Marketing strategies of global and local brands in developing economies: a comparative study in the Ecuadorian chocolate market. Revista Galega de Economía, 30(4), pp.1-19.
• Hanaysha, J.R., Al Shaikh, M.E. and Alzoubi, H.M., 2021. Importance of marketing mix elements in determining consumer purchase decision in the retail market. International Journal of Service Science, Management, Engineering, and Technology (IJSSMET), 12(6), pp.56-72.
• HIDIRO?LU, D., 2019. An application of SWOT analysis as a strategic planning tool: A case of Cadbury, Inc. in confectionery industry. Uluslararas? ?ktisadi ve ?dari ?ncelemeler Dergisi, (25), pp.153-164.
• Karim, R., Latip, N.A., Marzuki, A., Haider, S., Nelofar, M. and Muhammad, F., 2021. The impact of 4ps marketing mix in tourism development in the mountain areas: A case study. International Journal of Economics & Business Administration (IJEBA), 9(2), pp.231-245.
• Kassab, A., 2023. Emerging Trends in Marketing Strategy: A Comprehensive Analysis Of 4ps.
• Kubicki, M., 2023. Marketing Mix: Dominar os 4 P's de marketing. 50Minutos. es.
• Morgan, N.A., Whitler, K.A., Feng, H. and Chari, S., 2019. Research in marketing strategy. Journal of the Academy of Marketing Science, 47, pp.4-29.
• Nanayakkara, N.W.O.K.D.S.P., 2020, November. Application of Artificial Intelligence in Marketing Mix: A Conceptual Review. In Proceedings of the International Conference on Business & Information (ICBI).
• Quesenberry, K.A., 2020. Social media strategy: Marketing, advertising, and public relations in the consumer revolution. Rowman & Littlefield Publishers.
• Reddy, T.N., Ghouse, S.M. and JS, R.K., 2023. Marketing Mix-Review of P. Research Journal of Humanities and Social Sciences, 14(1), pp.55-58.

Online

• Cadbury. 2023. Online. Available through. :< https://www.cadbury.co.uk/>
• Grand view research, 2023. Chocolate Market Size. Online. Available through. :< https://www.grandviewresearch.com/industry-analysis/chocolate-market>