A PROJECT ON THE CADBURY DAIRY MILK
Submitted By: CHANDNI MANIAR
(Roll No-10065)
Guided By: PROF. BHAVESH O. VANPARIYA
PGDM PROGRAMME (YEAR 2010-2012)
TOLANI INSTITUTE OF MANAGEMENT STUDIES ADIPUR
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ACKNOWLEDGEMENT
Success is an amalgam of dedication. work and able guidance of people around us´
I am very thankful to TOLANI INSTITUTE OF MANAGEMENT STUDIES for giving me an opportunity to learn something new and increase my practical knowledge. At the same time my sincere thanks to PROF. BHAVESH VANPARIA to guide me throughout my Marketing Project.
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EXECUTIVE SUMMARY
In this Marketing project I have tried to apply the concepts of marketing on any product and my product was Cadbury.
Considering the importance of understanding the marketing concepts in deep and which helps in future development as in marketing profile and also with the application of concepts we come to know about the position of the product and here various models like Porters five force model, product life cycle theory, core concepts marketing information system I have tried to relate with the product .
Throughout from this project it has helped me to strengthen my marketing concepts
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ABOUT CADBURY:
The story of Cadbury Dairy Milk started way back in 1905 at Bourneville, U.K., but the journey with chocolate lovers in India began in 1948.
The variants Fruit & Nut, Crackle and Roast Almond, combine the classic taste of Cadbury Dairy Milk with a variety of ingredients and are very popular amongst teens & adults.
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Cadbury Dairy Milk has exciting products on offer - Cadbury Dairy Milk Wowie, chocolate with Disney characters embossed in it, and Cadbury Dairy Milk 2 in 1, a delightful combination of milk chocolate and white chocolate. Giving consumers an exciting reason to keep coming back into the fun filled world of Cadbury.
Today, Cadbury Dairy Milk alone holds 30% value share of the Indian chocolate market.
Cadbury ʹ Company Overview
Cadbury plc is a confectionery and beverage company with its headquarters in London, United Kingdom, and is the world's largest confectionery manufacturer.
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Its heritage can be traced back in 1824 when John Cadbury opened a shop in Birmingham selling cocoa and chocolate. Since then Cadbury have expanded our business throughout the world by a programme of organic and acquisition led growth.
In the Chocolate Confectionery business, Cadbury has maintained its undisputed leadership over the years. Cadbury enjoys a value market share of over 70% - the highest Cadbury brand share in the world.
Cadbury began its operations in 1948 by importing chocolates and then re- packing them before distribution in the Indian market Cadbury͛s flagship brand Cadbury Dairy Milk isconsidered the "gold standard" for chocolates in India. The pure taste of CDM defines the chocolate taste for the Indian consumer.
After 59 years of existence, it today has five company-owned manufacturing facilities at Thane, Induri (Pune) and Malanpur (Gwalior), Bangalore and Baddi (Himachal Pradesh) and 4 sales offices (New Delhi, Mumbai, Kolkota and Chennai). The firm was formerly known as Cadbury Schweppes plc before demergingin May 2008. With a history stretching back over 200 years, today CadburySchweppes
TOLANI INSTITUTE OF MANAGEMENT STUDIES Page 6 employs around 54,000 people and its brands are enjoyed inalmost every country around the world. They are also the world's third largest soft drinks company.
Throughout history chocolate has been associated with romance and sharing. Today the richness and smoothness of Cadbury chocolate is what makes itone of the world's favorite treats.
y Since 1965 Cadbury has also pioneered the development of cocoa cultivation in India. For over two decades, company have worked with the Kerala Agriculture University to undertake cocoa research and released clones, hybrids that improve the cocoa yield. Cocoa team visits farmers and advises them on the cultivation aspects from planting to harvesting. Company also conduct farmers meetings & seminars to educate them on Cocoa cultivation aspects and efforts have increased cocoa productivity and touched the lives of thousands of farmers.
At Cadbury PLC, core purpose is "Working together to create brands people love". The core purpose captures the spirit of what we are trying to achieve as a business.
Cadbury collaborate and work as teams to convert products into brands. y Simply put, we spread happiness!!!
y Small family business developed into an international company and how the high standards of the Cadbury brothers were combined with the most sophisticated technology, skills and innovation.
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Products of Cadbury:
y Cadbury Dairy Milk
y Cadbury Bytes
y Cadbury Bournvita
y Cadbury Dairy Milk Silk
STP OF DAIRY MILK
Segmentation
Demographic segmentation
Any age group, Any Income Category
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Geographic segmentation
The maximum part of the revenue generated from urban and semi-urban area.
Behavioral segmentationOccasions
TARGETING
In the early 90's, it was seen as meant for kids, usually rewards or a bribe for children.
In the Mid 90's the category was re- defined by the very popular Real Taste of Life´ campaign, shifting the focus from just for kids´ to the kid in all of us´.
It appealed to the child in every adult. And Cadbury Dairy Milk became the perfect expression of 'spontaneity' and 'shared good feelings'
The potential market in rural area was targeted
POSITIONING
The girl dancing on cricket ground- Way to express the happiness as, Real Taste of Life´ i.e. Asli Swad Zindagi Ka
Khanewalon Ko Khane Ka Bahana Chahiye- Social acceptance
amongst adults, by showcasing collective and shared moments.
Kuch Meetha Ho Jaaye- Celebratory occasions pappu Pass Ho Gaya- Use of street language to express joy in a moment of achievement / success.
Khush Hai Zamana Aaj pehli Tarikh Hai to celebrate Pay Day.
Shubharambh Kuch Meetha Ho Jaye to start any new work.
Kuch Meetha Ho Jaye to spread love and happiness among people.
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COMPANY͛SORIENTATION TOWARDS MARKET PLACE
The production concept:
The products of Cadbury are widely available in the Market and have effective distribution channel.
The Product concept:
The product concept proposes that consumers favor products that offer the most quality, performance, innovative features. Cadbury dairy milk has best quality, performance and available in many varieties (fruit n nuts, crackles).
The selling concept:
The selling concept proposes that consumers will not buy the enough products of company unless aggressive selling and promotion efforts. Cadbury dairy milk
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The marketing concept:
The marketing concept holds that achieving company͛s goals is being more effective than competitors in creating, delivering superior customer value to customers. Cadbury dairy milk is always deliver a superior value to its customer.
The holistic marketing concept:
Cadbury dairy milk never allotted the competitors to gain an upper hand in the market which it created. Cadbury dairy milk achieved such tremendous success because of careful branding and ad campaigns. Company always strives to do the right thing. Honesty, openness and being straightforward characterize the way they do business. Company has clear principles and do what they say they will do.Cadbury dairy milk is able to dominating the chocolate market because of careful marketing and is a showcase of the marketing genius of Cadbury.
Relationship marketing:
Relationship marketing aims to build mutually satisfying long term relationship with customers to earn and retain firm͛s business. Cadbury dairy milk
Integrated marketing:Integrated marketing refers to the marketing mix tool which is known as 4P͛s of marketing.
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PRODUCT:
Varieties (dairy milk, fruit n nut, crackles) Quality (consistency in quality) Design (square box) Brand (reliable and old brand) Attractive packaging (pack in golden wrapper, celebration pack) Various sizes (available in 10gm, 30gm, to big celebration pack)
PRICE: Rs.5 of 10gm of dairy milk
Only fixed prices
PROMOTION:
Advertising (cricket, so what anyone won) Direct marketing
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PLACE:
Worldwide Various assortments Location (smallest village to metro city)
INTERNAL MARKETING
PERFORMANCE MARKETING:
Cadbury take accountability for their social, economic and environmental impact. In this way company aim to make their business, their partners and their communities better for the future. Cadbury͛s Business Principles are their code of conduct and also take account of global and local cultural and legal standards. They confirm their commitment to the highest standards of ethics and business conduct. It collaborates and works as teams to convert products into brands
VALUE DELIVERY PROCESS
Choose the value Provide the value Communicate the
Customer Product development Salesvalue force segmentation Service development Sales promotion TOLANIMarket INSTITUTE OF MANAGEMENT STUDIES Page 13 Pricing Advertising selection/focus
Customer segmentation:
For product like Cadbury, widely children, teenagers & youth are much more interested in chocolates as compare to old age people.
Market selection/focus:
Merely market is all may it be rural or urban because Cadbury is available in all size.
Value positioning:
To give customer satisfaction, great taste, attracting packing, discounting, other offer to attract the target customer.
Product development:
Cadbury create various flavor for different customer to grab the opportunity. For ex for children wowie, for family pack celebration.
Service development:
Service is serve best by the Cadbury company to its customer as full detail of content, availability of product.
Pricing:
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Price is set as per keeping target customer in mind so that all can afford the chocolate and can enjoy.
Sourcing making:
It defines that sourcing of Cadbury raw material and how the supply chain had been managed, what are different sources to attract customer for buying their product.
Distributing servicing:
As service or distributing is in wide range, it is available at all places over India. You͛ll find in urban as well as rural area.
Sales force:
Cadbury had large sales force for different state whole seller and different retailer then to the customer.
Sales promotion:
Sales promotion is done by Cadbury buy bring celebrity for advertisement, also some or other offer to customers.
Advertising:
It has been proved more beneficiaries to Cadbury because customers are more attracted towards advertisement. Ambassador also matter a lot as it is Amitabh Bachchan.
MARKETING INFORMATION SYSTEM:
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Marketing information system consists of people, equipments procedure to gather, sort, analyze and distribute needed, timely and accurate information to marketing decision makers.
MARKETING INTELLIGENCE
The most important part of the internal records system is the ORDER TO PAYMENT CYCLE.
Manufacturer Warehouses Distributors RetailerConsumer
Retailer gives order on weekly basis to distributer. Next day of order Distributer deliver the stock to the retailer on the cash payment. (eg. if retailer give an order on Monday than distributer deliver the chocolates on Tuesday on cash payment)
MACRO ENVIRONMENT
TREND
Trend is direction or sequence of events that has some momentum and durability Trends are more predictable and reveals the shape of the future. In case of Cadbury,In India people used to eat sweet in festivals, occasions but now a day͛s young people used to eat chocolates (celebration pack). They also give chocolates as a gift.
DEMOGRAPHIC ENVIRONMENT
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Population growth:
Population growth highly affect the buying of the chocolates.
Age and Life Cycle:
Preschools:-5% School-age:-15% Teens:-40% 25-65:-38% 65+:- 02%
Gender: For purchasing Cadbury dairy milk gender doesn͛t matter. Cadbury dairy milk is for all types of persons whether male or female.
ECONOMIC ENVIRONMENT:
Economic environment depends on current income, prices, saving, debt etc, these can have strong impact on business. Marketer must pay careful attention to trend affecting to purchasing power. The price of Cadbury dairy milk is reasonable and affordable. So a person does not need to think much before purchasing it. Cadbury product available in Rs.1 (eclair) or 2(Dairymilk shots) to Rs.400 (celebration pack).
TECHNOLOGICAL:
TOLANI INSTITUTE OF MANAGEMENT STUDIES Page 17 cocoa and milk quality can be improved much by technology. Refrigeration power can be improved by new technology so that cold storage product such as dairy milk and other milk products can be stored well for long time.
Political-legal environment:
political and legal environment consists of laws, legal system, political interference highly influence and limit various organization. Cadbury dairy milk also affected by the political and legal factor in terms of taxation, advertising regulation etc.
FORECASTING AND DEMAND MEASUREMENT
In the FMCG products buyers taste and preferences changes in day to day life. So it is very important for the Cadbury dairy milk to be up to date with the consumers day to day changing choices. Market demand for a product is the total volume that would be bought by a defined customer group in a defined geographical area in defined time period.Strong demand for confectionery the market has grown consistently at around 5% every year for last 4 years.
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TOTAL MARKET POTENTIAL :
Total market potential is the maximum amount of sales that might be available to all the firms in industry during given period, under given level of industry marketing efforts and environmental condition.
Available market is a set of consumers who have interest, sufficient income, access to particular product.
Qualified market is asset of consumers who have interest income access and qualification for the particular market offer. Qualified market eliminates the consumers who are not able to buy the product because of their disqualification.
GANDHIDHAM MARKET -300000
POTENTIAL MARKET - 200000 (INTERESTED PEOPLE)
AVAILABLE MARKET ʹ 180000(EXCLUDIND 10% POOR)
QUALIFIED MARKET ʹ 150000(HAVE INTEREST, INCOME, ACCESS)
TARGET MARKET - 150000
PENETRATED MARKET 150000(WHO ARE BUYING)
TOTAL MARKET POTENTIAL =AVG NO OF BUYER *AVG QUANTITY*PRICE
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CUSTOMER PERCEIVED VALUE
Consumer perceived value is the difference between the total customer benefits and total customer cost.
Total consumer value is the perceived monetary value of the bundle of economic, functional and psychological benefit expects from product like service, personnel and image involved.
Total customer cost is the perceived bundle of costs customers expect to incur in evaluating, obtaining, using and disposing of the product.
IMAGE VALUEʹ
Image value refers to the brand value of the product. Cadbury dairy milk is very old brand which give consumers image value.
PERSONNEL VALUE-
Social value given by product or brand to the consumers. Cadbury dairy milk eats in some relation for sweet. Brand ambassador of Cadbury dairy milk is Amitabh bachchn.
SERVICE VALUE-
Service value is refers to the service given by the product to the consumers. Cadbury dairy milk easily available anywhere, so it provides service to the consumer.
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PRODUCT VALUE-
Product value refers to the functionality of product and features of product. Cadbury dairy milk available in lots of varieties like dairy milk, fruit n nut crackles etc.
MONETARY COST ʹ
Monetary cost refers to the price paid to buy a product. Cadbury dairy milk available in Rs.5, so it is monetary cost for consumers.
TIME COST-
Time cost refers to the time to buy the product, using the product and disposing the product.
ENERGY COST-energy cost refers to the physical cost paid by the consumer to use or dispose the product.
PSYCOLOGYCAL COST - psychological cost refers to the cost of six senses.
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CUSTOMER DEVELOPMENT PROCESS
Potentials: Those customers who are willing and have capacity to buy product. For Cadbury all are customer who can afford to buy.
Prospectus: As the price of Cadbury are available in wide range, so it is rare that prospectus are disqualified. They are accepted.
First time customer: As the person who are willing to have Cadbury and trying for the first time is first time customer for the company.
Repeat customer: Once the customer had started consuming the Cadbury chocolate and again buys then he or she is repeated customer.
Clients: To whom Cadbury give some special treatment are client of company.
Members: Clients are made members to whom special benefit and membership is given.
Advocates: Those members who recommend the product and service to other is made advocate.
Partners: As it is hard to convert advocate into member for such a big company like Cadbury.
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FACTORS AFFECTING CONSUMERS BUYING BEHAVIOUR.
All marketing starts with the consumer. So consumer is a very important person to a marketer. Consumer decides what to purchase, for whom to purchase, why to purchase, from where to purchase, and how much to purchase. In order to become a successful marketer, he must know the liking or disliking of the customers. He must also know the time and the quantity of goods and services, a consumer may purchase, so that he may store the goods or provide the services according to the likings of the consumers. Gone are the days when the concept of market was let the buyer͛s beware or when the market was mainly the seller͛s market. Now the whole concept of consumer͛s sovereignty prevails. The manufacturers produce and the sellers sell whatever the consumer likes. In this sense, ͞consumer is the supreme in the market͟.
As consumers, we play a very vital role in the health of the economy local, national or international. The decision we make concerning our consumption behavior affect the demand for the basic raw materials, for the transportation, for the banking, for the production; they effect the employment of workers and deployment of resources and success of some industries and failures of others. Thus marketer must understand this.
Preference (or "taste") is a concept, used in the social sciences, particularly economics. It assumes a real or imagined "choice" between alternatives and the possibility of rank ordering of these alternatives, based on happiness, satisfaction,
TOLANI INSTITUTE OF MANAGEMENT STUDIES Page 23 gratification, enjoyment, utility they provide. More generally, it can be seen as a source of motivation. In cognitive sciences, individual preferences enable choice of objectives/goals.
The study of the consumer preference not only focuses on how and why consumers make buying decision, but also focuses on how and why consumers make choice of the goods they buy and their evaluation of these goods after use. So for success of any company or product promotion it is very necessary to depart its concentration towards consumer preference
CULTURAL FACTOR ʹ
Culture, subculture, social class are important influence on consumer buying behavior and it is fundamental determinant of person͛s wants and behavior. For the Cadbury dairy milk country like India, the cultural factors highly influence on buying of chocolates. Sweet is integral part of Indian culture.
SOCIAL FACTOR-
It includes reference group, family and social roles and status which affect the buying behavior. Social factors includes such as norms, beliefs, values of the company. Cadbury dairy milk has created the positive impact on customers in terms of belief and values
Reference Group: reference groups are all groups that have a direct or indirect influence on buying behavior.
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Membership groups ʹ Groups having direct influence are called membership groups. In buying of chocolates membership group highly influence.
Primary groups-
Group having friend, family neighbors and coworkers etc. in buying chocolates this primary group mostly influence because of different tastes and preferences of friends and family.
Secondary group ʹ
Group having member of religious community, professional, trade union groups. This group has a little less effect on consumer in buying chocolates.
Aspirational groups have positive effect on the consumer in buying chocolates and Dissociative groups have negative effects on consumer in same.
Rolls and Status.
PERSONAL FACTORS
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Taste and preference:-Cadbury has wide variety of products and 1 of them is dairy milk chocolates and so different variety of it such as fruit and nut, almond, so the demand will be according to the taste and preferences of the variety.
AGE AND STAGE IN LIFE CYCLE -
OCCUPATION AND ECONOMIC CIRCUMSTANCES
PERSONALITY AND SELF CONCEPT
LIFESTYLE AND VALUE
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COMSUMER BUYING DECISION PROCESS
1. Problem recognition - Need of sweets for celebration - To give gift - Kids, youth, valentines day 2. Information search - Personal : friends & peers - Commercial : packing & advertisement - Public : media mass - Experiential : if sum one is mad after Cadbury (sample survey) 3. Evaluation of alternative Total set Awareness Consideration Choice set Decision set set Cadbury Cadbury Cadbury Cadbury Cadbury Nestle Nestle Nestle Local sweet Kraft Kraft Local sweet Amul Local sweet Parle Local sweet
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Attributes
item Taste Advertisement Brand Price Packing (0.5) (0.15) (0.15) (0.10) (0.15) Cadbury 9 6 8 7 8 Nestle 7 3 8 7 1 Local 7 7 7 3 8 sweet
(Here percentage give to each criteria is multiplied with the weight) Cadbury = 4.5 + 0.6 + 1.2 + 0.7 + 1.2 = 8.2 Nestle = 3.5 + 0.3 + 1.2 + 0.7 + 0.15 = 5.85 Local sweet = 3.5 + + 0.7 + 1.05 + 0.3 + 1.2 = 6.75
4. Purchase decision - When ? : occasion, frequently, desert . - Where? : any store. - How much? : depend on situation. 5. Post purchase behaviour - Cadbury can be used for making cake - Keep it at a medical store so that more people get cough & take more medicines - Baby sitting people give Cadburies to make children quiet - To propose sum one
Those people who want to increase the profit
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MENTAL ACCOUNTING
Mental accounting refers to the way consumers code, categorize and evaluate financial outcomes of choices. In case of Cadbury dairy milk, if any consumer have Rs. 10. From that Rs. 10 he buy Cadbury dairy milk of Rs.5 if chocolates loss or melted than consumer has two ways, either he buys another one or he left the idea to eat chocolate. In first case, he may have mentally allocated Rs. 5 to eat the chocolate. Buying
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CADBURY SWOT:
Strengths · Cadbury is the largest global confectionery supplier, with 9.9% of global market share. · Strong manufacturing competence, established brand name and leader in innovation. · Advantage that it is totally focused on chocolate, candy, chewing gum, unique understanding of consumer in these segments.
Weaknesses · The company is dependent on the confectionery and beverage market, whereas other competitors e.g. Nestle have a more diverse product portfolio, where profits can be used to invest in other areas of the business and R&D.
· Other competitors have greater international experience - Cadbury has traditionally been strong in Europe. New to the US, possible lack of understanding of the new emerging markets compared to competitors.
Threats · Worldwide - there is an increasingly demanding cost environment, particularly for energy, transport, packaging and sugar. Global supply chain in low cost locations.
· Competitive pressures from other branded suppliers (national and global). Aggressiveprice and promotion activity by competitors - possible price wars in developed markets.
· Social changes - Rising obesity and consumers obsession with calories counting. Nutrition and healthier lifestyles affecting demand for core Cadbury products.
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Opportunities · New markets. Significant opportunities exist to expand into the emerging markets of China, Russia, India, where populations are growing, consumer wealth is increasing and demand for confectionery products is increasing.
· The confectionery market is characterized by a high degree of merger and acquisition activity in recent years. Opportunities exist to increase share through targeted acquisitions.
· Key to survival within the FMCG market is increasing efficiency and reducing costs.Cadbury Fuel for Growth and cost efficiency programmes seek to bring cost savings by:
1) Moving production to low cost countries, where raw materials and labour is cheaper ii) reduce internal costs - supply chain efficiency, global sourcing and procurement, andwise investment in R&D.
· Innovation is key driver. To respond to changes in consumer tastes and preferences - healthier snacks with lower calories need to be developed. R&D and product launches have led to sugar-free ¢er filled chewing gum varieties and Cadbury premium indulgence treat. Low-fat, organic and natural confectionery demand appears strong.
· Had an excellent double digit volume growth.
· "Bournvita" didn͛t have major volume growth. (but of late it is favourably growing) Sugar confy.had static growth with larger share of "Eclairs" (with 33% price increase effected.
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Michael porter͛s Five Forces Model on cadbury:
New Entrants AS it is having vast coverage so less threat of new entrants
Suppliers
Distributors, Raw Industrial Rivalry Buyers material suppliers , nestle, britannia Customer mindset, Brand image Packaging.
Substitutes Other chocolates brands and sweet items
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PRODUCT LIFE CYCLE OF CADBURY:
A concept that provides a way to trace the stages of a product͛s acceptance, from its introduction (birth) to its decline (death). The PLC of a product have 4 stages:- 1. The Introduction Stage 2. The Growth Stage 3. The Maturity Stage 4. The Decline Stage
Introductory Stage:
Created an entirely new food category
Less competition
High marketing and production costs.
Faced the big crisis.
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Growth Stage :
High rate of Acceptance
Cadbury become popular chocolate and brand
Increased number of sales
Profits begin to rise
Maturity Stage :
Entry of competitor
Sales begin declining
Decline Stage:
Sales is yet declining but not so strongly and there are many new product development taking place and new items introduced which is also successfully running and so it has yet not reached the declining stage.
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BRAND MANAGEMENT: BRAND PORTFOLIO
11 brands with more than $1 billion in revenue
70+ brands with more than $100 million in revenue
40+ brands over 100 years old .
80% revenue from #1 share positions
BRAND PROMISE: Cadbury Dairy Milk is the most delicious, best tasting chocolate. A moment of pure magic.
BRAND CHARACTER:
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Cadbury Dairy Milk encapsulates an enormous breath of emotions, from shared values such as family togetherness (fun, wholesome, reliable), to the personal values of individual enjoyment.
It stands for goodness.
Advertising Strategy: For example: Pappu pass ho gaya The Strategy: The task was to get the youth audience to adopt Cadbury Dairy Milk in the sweet eating or " muhmeethakarna" moments.
The campaign of " JabPappu Pass Ho jaye, Kuch Meetha Ho jaye" captured the thought of celebrating a moment of delight with Dairy Milk A campaign was built around the idea of how "pappu" celebrated passing his exams with Dairy Milk.
The Media: A multi-media campaign was launched on TV, Internet, Radio and Outdoor. The key was how do own the moment of " pappu passing his exams" in the media space.
The Results: The activity contacted 20 MN students across the country and was awarded a Bronze Lion at the Cannes Media awards in 2005.
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Thank you
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