MODULE TITLE: Foundations of Marketing

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1. With the ever-intensifying competition in the market, businessmen realised the need to segment the market and use the marketing mix (product, price, place, and promotions) to effectively sell their products. Market segmentation provides them focus in intensifying their marketing campaign to their key buyers.


This is one of the reasons why chocolate firms produce a variety of products that caters to the diverse preferences, budget, and geographic location of their buyers. Below is the elaboration of the activities done by the firms on each of the 4ps in marketing (marketing mix) with the principle of market segmentation in mind:
Product - Brand names fuels the marketing activities of chocolates. World-renowned chocolate firms (Cadbury, M&M's, Hershey's, Ferrero-Rocher) produce various chocolate goods to cater the needs and desires of different market segments on a massive scale. To illustrate this point, let us pick Cadbury as an example of what the chocolate companies do in segmenting their products.
Cadbury has a wide array of chocolate variants for different age levels and interest segments. Aside from its Dairy Milk brand (intended for the general public), it released Cadbury Heroes in September 1999 that intends to position its product line to children. The product is a tub of tiny bits of the whole collection of chocolate variants of Cadbury (except its Cadbury Under 99 Calorie Range brand, which is positioned for the figure conscious segment). Local chocolate manufacturers and houses of chocolates follow the same product diversification strategy as the multinationals. The capacity for customised products is a primary advantage of local chocolate makers.
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