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Assignment on Marketing Concept

   

Added on  2020-10-05

13 Pages4405 Words384 Views
MARKETINGESSENTIALS

ContentsINTRODUCTION.........................................................................................................................3TASK 1........................................................................................................................................3Role of marketing in modern organization....................................................................................3TASK 2........................................................................................................................................6Marketing plan for beauty giant....................................................................................................6Porter value chain.................................................................................................................11REFERENCES..........................................................................................................................13

INTRODUCTIONMarketing is the process of promoting buying and selling of the company. It helps thecompany in promoting its product and services. Marketing is not just about promoting butconsists of many factors like price, place, promotion etc. The report will focus on role ofmarketing in modern organization and for this purpose it will take UK based cosmetic companyBeauty giant. Furthermore, it will show the marketing plan of the same company who islaunching its product for the first time along with marketing mix and segmentation, targeting andpositioning of the product.TASK 1Role of marketing in modern organizationBeauty giant is a UK based company that deals in selling cosmetic products of both menand women from various renowned brands and have established itself in the market. It increasedits sales through promoting its product at various platforms and through different techniques. Inshort span of time it captured large market share of UK through marketing.Marketing is the process adopted by the company to promote their products and servicesand to attract large number of customers to increase their sales and market share through variousstrategies like advertising, personal selling, using social media platforms etc. marketing is notjust about promoting the product but it is more than that which consists of lot of factors.Marketing is a discipline that involves actions of the company which it undertakes to attractcustomers and maintain relationship with them to gain customer retention and loyalty (Allen,2016).Marketing is not a new concept, it started with the time when companies were gettingincorporated and business was setting up. The manner and way has changed but the concept ofmarketing is still there. It can be consider being the soul of the business (Posthumus, 2015). Themarketing concept is a philosophy that is used by the company to analyses needs of thecustomers better than the competitors to retain the customers. The marketing concepts are: ●Production Concept - The human nature is to get attracted to products which are widelyand cheaply available. The production concept states the same, where the companyproduces products on a large scale to maximize profitability. The beauty giant does not

produce products instead they outsource production and in near future are planning toproduce cosmetics where they will implement the product concept.●Product Concept - The concept based on three key characteristics; quality, performanceor innovative features of the product. This concept lays emphasis on consumer more thanproduction (Venter, Wright and Dibb 2015). The consumer tends to get attracted toproducts which provide better value with better quality and features and this impacts theloyalty of the consumer towards a particular brand in the market. The Beauty giant has agoodwill and a good reputation which can be used to take advantage of the existingconsumers and their loyalty towards the brand. ●Selling Concept - This is an important tool for the business. The consumers which areexposed to aggressive marketing yield greater conversion and are more likely to buy aparticular product. As the change in time can be observed in the market which showsselling concept is not enough and is incomplete without marketing. The Beauty Giant willrequire to sell its product aggressively to the consumers in the market to successfullycapture enough market share.●Marketing Concept - In the era of tough competition in the market every business isrequired to implement the marketing concept. The business with a better marketing istend to have a competitive edge over its competition. A marketing with targeting the rightaudience for the product can be more efficient and effective in reaching to potentialcustomers. At the end of the day marketing can play a key role in the business. TheBeauty giant would require a marketing strategy with targeted marketing to generatemaximum revenue.●Societal Concept - The concept revolves around society welfare. It lays emphasis onconsumer satisfaction, welfare of the society or environment over the profits of thecompany. It is an ethical concept which is the most progressive strategy for the businessto grow with the society. The business shall be responsible towards its duties andresponsibilities towards the society while generating revenue. The Beauty giant can be aresponsible brand by implementing ethical cosmetic testing, non animal testing, safe touse products for humans while implementing this concept.

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