A Study of Marketing Strategy Adopted by Edible Oil Wholesalers

Based on the provided content, this assignment is about analyzing the marketing strategy adopted by edible oil wholesalers in Pune city. It explores the 7 Ps of marketing mix (product, price, promotion, place, physical evidence, people, process, and performance) and their application in the edible oil industry. The study aims to provide insights into how these elements can be used effectively in marketing strategies for edible oil wholesalers.

Marketing And Its Application

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
TASK: ESSAY................................................................................................................................1
PART 2 ...........................................................................................................................................4
TASK REPORT...............................................................................................................................4
Market plan.................................................................................................................................4
7 p's of Marketing mix................................................................................................................8
CONCLUSION................................................................................................................................9

INTRODUCTION
Marketing and its implication play a vital role in improving marketing activities of
business. Modern marketers are focused ongoing beyond selling staff and therefore companies
are incorporation wise range of marketing strategies to increase customer reach and sales for
products and services. The assessment is divided into two pats in which one section will be
outlining roles and responsibility of marketing in modern organization and interrelation of
marketing function with functions of business. On the other hand, it will identify 7 P's of
marketing which helps the company in accomplishing overall marketing objectives. Thus, it will
outline marketing plan of Beauty Giant which has recently launched its new anti aging product
which is known as Forever Young.
PART 1
TASK: ESSAY
Marketing play crucial role in modern era as it helps the business in advertising products
with the motive of creating awareness. There are wide range of approaches and practices which
are implied by organization to improve marketing activities such as online marketing, public
relations, promotional campaigns, etc. It is the approach which assist the enterprise in seeking
attention of buyers towards own products with the motive of boosting sales and attain
competitive advantage (Bosneagu, Coca and Sorescu, 2015). However, it is known as process of
integrating needs and wants of buyers via advertising, customer interaction and follow up
approach. Marketing department of organization aim at driving sales of business products and
services by assisting shoppers preferences and expectations.
Key elements of marketing function
Marketing approach of marketing organization is focused on key elements of marketing
function that is packaging and labeling of products, product distributions, customer support,
market planning, information and products designing. These are the key points focus of business
when promoting marketing efforts. In packaging and labeling focus of marketing tea is on
ensuring that ingredients of products are clearly labeled with amount. Further, labeling is also
based on product use which makes commodity user friendly. On the other hand, aim of
marketing team behind packaging is attractiveness. Packaging is form of advertising when the
product s displayed to buyers. Both the elements of marketing are used by modern organization
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to gain attention of potential buyers which encourages purchase. It is also supported and used by
marketing individual of enterprise because it assists information, transmission and convenience.
However, customer support is another key driver of marketing function where focus of
entities is on interaction with buyers which helps the business in customer relationship
management. The best example of customer support and marketing function is social media
marketing which emerged as most convent tool of advertising (Conradie, Roberts-Lombard and
Klopper, 2014). Advertising on social networking sites helps the business in working with
reference to customer expectation and preferences. Likewise, it can be said that support to
shoppers is critical job function of marketing team were the department aim at taking care of
needs and ways of shoppers with changing trends. Thus, it can be said that this helps in keeping
up to expectation of customer and making optimum utilization of resources. Interaction with
buyers is supportive tool of marketing research and gathering information regarding changing
trends. Integrating of customer expectation helps the modern organization is living up to
expectation of industry as well as shoppers.
Market planning is critical function of marketing team where the individuals aim at
analyzing changing trends, compeers marketing strategies and changing preferences of shoppers.
This helps in gathering relevant information to work on existing business products and launching
new goods and services. This approach helps the organization in setting new business goals.
Apparently, planning of market is time specified and is based on core elements like, cost, goals
and action steps. Marketing planning of company is based on setting goals, planning change in
product, executing change and tracking progress of launch. Thus, these are the core elements of
marketing functions which are considered by marketing unit of modern organization for success
marketing approach.
Interrelation of marketing function with other functions of modern organization
On the other hand, marketing department of companies are interconnected and related
with other departments of organization which enables support to individuals with regard to
various aspects such as product quality, cost, resources required, change in marketing efforts, etc.
It suggests wide range of improvement and supports smooth flow of changes. Marketing and its
implication are related with units of business and their function (Felix, Rauschnabel and Hinsch,
2017). For example, the marketing team of enterprise connects with research and development
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department for market research which helps in deriving the best way of research market
condition and customer preferences.
Th ultimate aim of modern organization in technological era is to promote
communication between different functions units of business with the motive of increasing sales,
making optimum utilization of resources and developing understanding over customer
expectations. The marketing team of business interacts with human resource department for
approaching the need of manpower like theses days millennial are all over and are leading
industries with own innovative ideas therefore marketing team of modern organization
communicates with human resource manager to share the need of staffing for managing
successful innovation in marketing plans (ZBYRANIK, 2016). On the other hand, people of
marketing team interacts wit finance tea to access funds where finance department aim at
evaluating expenses and cost requirement for particular purpose. In this interaction of marketing
and finance people helps the business in managing cost effectiveness in marketing approaches
like expenses of promotions campaigns on social media advertising or event for public relation
management.
Apparently, interrelation with functional units of modern organization play a crucial in
developing better understanding over needs of consumers. For example, after market research
focus of marketing team is on concerning production which is regular touch with changing taste
and preferences of shoppers. The team provides assistance with changes in services and good
like whether the company needs to produce new product to attract buyer or can make changes to
increase sales. The interaction of these departments enables assistance to every department for
relevant changes for which further planning is executed.
PR Sostac is marketing tool which supports interrelation of marketing functions with
other functions of organization. With the helps of this functions units of organization are able to
derive situation like what changes can be made by firm to enable customer support and improve
services. Further objectives are derived on the basis planning will be executed and strategies.
Further, communication of marketing team with other department of business is to analyze tactic
for managing successful changes with cost effective approach. The last stages of approach is
action and control which helps in accomplishing derived situation on the basis of objectives set
by each functional units. The achievement of task denotes success of interrelation department
communication of modern enterprise.
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PART 2
TASK REPORT
Market plan
The plan is for new product launch of Beauty Giant which is cosmetic selling firm and
has 50 branches across United Kingdom. Th firm offers wide range of beauty products like, hair
care, accessories, toiletries, from various famous brands. It comprises mix of exclusive brands
which helps the firm in offering options to buyers and therefore considered as one stop shopping
of shoppers. Th market plan is for companies new launch that if Forever Young which is anti
aging product for which focus of firm is on targeting market of 30's. IN accordance with
sustainable marketing plan the company will best focus on analyzing own business environment
with the help of two strategical tools that is Swot and Pestle analysis.
Swot analysis
Strength One of the major strength of Beauty Giant is wide range of cosmetic
products of men and women both. The focus of firm is on managing
uniqueness in services by regularly launching new products according
changing market trends (Mattera and Baena, 2018). The company has
cohesive brand image is an exclusive range of brands at one stop.
Further, the business has high customer involvement which offer
beneficial approach to business for launching new product. Good
product portfolio is another advantageous concept of Beauty Giant
where organization comprise products of different brands. Thus, it is
approach because of which firm is considered as exclusive seller of top
line brands.
Weakness The major weakness of Beauty Giant is price of products which are
significantly expensive. It is a mixture of various brands and therefore
products can not be repriced instead company aim at adding own value
to maxim return because which products are offered at exclusively high
price which is major weakness and diversity consumer to other stores.
However, Chanel dilution is another which has diluted name of Beauty
Giant beauty it is recognized retailer of exclusive brand and therefore
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recognized on the basis of products and individual brands.
Opportunities Potential for growth by new launching own product with own brand
name can be the biggest opportunities for firm for increasing loyalty
trust of customers (Pike, 2017). Further, it will help the business in
increasing own brand visibility among shoppers. Likewise, it will
support Beauty Giant in earning exclusive return because here prices
will not be additional and product can be offered at minimal affordable
price.
Threats The biggest and major threat to Beauty giant is increasing competitors
which offers similar services. It is significant that investors with
exclusive mix of brands are most preferably by shoppers because
outlets and shopping is approachable (Chang and Chen, 2017). Thus, it
can be said that it is important for the company to focus on managing
innovation and change ins services to attain competitive advantage.
Pestle Analysis
Political The most unstable factor of business environment where focus of
Beauty giant is on animal testing of product before testing in market.
On the other hand, company is liable to seek for approval from FDA
before launching any product in market. Further, Beauty Giant has also
considered restriction of substances when innovating Forever young in
order to attain political stability over launch.
Economical It is focused on price point among rivalries which helps the business sin
managing prices of products in outlets (Cohen and Salaber, 2015).
Beauty giant will consider buying patterns of shoppers and economic
condition before lunching anti Aging product which will assist the firm
setting relevant price according to changing economic condition.
Social In the focus of firm is on lifestyle of shoppers which is essential tool
for targeting purchaser. However, for anti aging product of Beauty
Giant firm will focus on targeting customer of 30's who are most
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preferable for buying Forever young. The product is innovated by
organization after considering changing taste and preferences of
buyers.
Technological Digitization has seeked attention of maximum buyers because it
enables social media approach of marketing and targeting shoppers.
Further, offering products online is another beneficial approach that
will assist the business gaining attention. However, there are numerous
factors of advancement like, Facebook shopping, application of firm
which needs to be managed by Beauty giant for overcoming the biggest
threat that is increasing competition.
Legal In this focus of Beauty Giant is on displaying right information at the
time of marketing. In addition, it is important for the form to comply
with labor law and focus on appropriate la belling of products before
offer any commodity in market. Forever Young the new anti aging
product of business swill be properly labeled with chemical and testing,
Environmental In this focus of organization is on quality of chemicals used in cosmetic
products. Further, animal testing needs to done by adhering to ethics
like after seeking permission from ethical committee. On the other
hand, it is important for the organization to make minimum use of
natural resources. Further, using plastics needs to avoided preventing
environment.
Segmenting, Targeting and Positioning
 Segmenting: In this the firm will segment buyers according to demographic facts that is
age, sex, etc.
 Targeting: Target of Beauty Giant ill be customer of 30' who will be willing to purchase
Forever Young. Positioning: It is will be done on the basis of buying ability of targeted shoppers.
Mission, Vision and Values
 The mission of Beauty giants is focused on unlocking passion for beauty of customer
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 The vision statement of firm is based on serving high quality cosmetic products with the
helps of exclusive mix of brands. The values of Beauty Giant aim at respecting all shoppes, working in team, initiating
change and balancing innovation with passion.
Marketing Objectives
 To increase sales of company by 4 % with launch of Forever young
 To increase customer base by 5 % with launch of new product
 To understand changing shoppers expectation To evaluate customer response after launch of Forever young
Marketing program
Marketing tools Description Time duration
Digital marketing In this Beauty Giant will make
use of social media platforms
like Facebook, Instagram and
Twitter. In this focus of firm
will be on creating awareness
by promoting relevant
information about the product
(Perera and Perera, 2018).
4 months and everyday
Television and radio
advertisement
In this focus of firm will be on
targeting 30's people who are
main segments of firm. It will
be done to target every person
who is not digital platforms.
6 months and every day
Newspaper and magazines This is also with the motive of
spreading awareness in
industries and across UK, in
order increase sales for the
launch at every outlet.
3 months and 10 days in one
month
Personalized E- mails E mail will be doe to create Mail in every 10 day till 3
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awareness among potential
shoppers of Beauty Giant. It
will help the business in
developing relationship with
shoppers. It is considered as
best approach of targeting one
to one consumer.
months
Monitoring and Evaluation
It is basic practice which is followed by business to keep a check of launch plan. In
accordance with this Beauty giant will be focusing on determining performance of business in
business environment against competitors.
 In this Beauty Giant will focus on comparing actual performance with standard
performance which will help in evaluating needs of managing change in marketing plan
to attain successful goals of standard performance (Amiri, 2016).
 The company will focus on evaluating accomplishment of marketing objectives which
will help in determining loopholes of marketing plan and more effective ways to
approach consumers and increase sales.
 The marketing team will evaluate costumer response from marketing program me which
will helps the business in predicting success of Forever young.
7 p's of Marketing mix
 Product: Product is essential part of launch and marketing plan of business (Dioko,
2016). The marketing plan is for Forever Young, and anti aging product by Beauty Gaint.
The product is developed by keeping in mind the need of society which changes with
changing tends of society where after 30's market seek for anti aging products. The
offers wide range o products like face and lip care, make up, accessories, etc. However,
the plan is focused on one product which innovated by company on own brand name.
 Price: It is the most sensitive approach for the company because the buyers are price
sensitive specially for new products. With the launch of Forever Young Beauty Giant aim
is to maximize revenue and therefore initially product will be offered at minimal price
like on the basis of customer affordability but with consumer response price will be
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hiked. Forever young will be offered at 6.18 pound which is set according to competitor
pricing strategy in order to attain competitive advantage.
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Illustration 1: 7P's of marketing mix
(Source: The Marketing Mix 4P’s and 7P’s Explained, 2018)

 Place: Place play a crucial role in managing sales and purchase activity therefore Forever
Young will be available across 50 outlets of Beauty Giant. Moreover, focus of firm with
this launch will on offering commodity online in order to create awareness an increase
sales. Offering Forever Young at online platform will assist the firm in managing brand
visibility which is limited to exclusive mix of brands.
 Promotion: Promotion is key sale booster for the business as it helps in gaining
consumer attention with various tactics. In accordance with launch of Forever Young
Beauty Giant will be make use of digital advertising which is industrial trend of
promotion. Further, the firm will offer schemes for first 100 buyers of Forever Young
over one time shopping at outlets which will at flat 50 % off for all products.
 People: People are core stakeholder where people of product launch will be potential
consumer who will be targeted like customer of 30's. In this focus of firm will be
personalized messaging and emailing to potential customer of 30's with the motive of
interaction. During interaction marketing people of Beauty Giant will brief shoppers bout
product which will aid in gaining inter interest. On the other hand, people will be sales
associate at outlets of company across UK who will be trained abut product and will be
responsible for assisting purchaser query for anti aging product.
 Physical Evidence: Physical evidence denotes product viability which is based on its
packaging and labeling. It is always argued that packaging and labeling is for promotion
but act as physical evidence. In accordance with Forever Young the physical evidence of
Beauty Giant will be labeling of chemical used, testing done and product range, expiry
date manufacturing date, etc. It is important for the company to notify details because it is
the part of physical evidence of Anti Aging product.
 Process: Process play a crucial role in launching and selling product therefore Forever
Young will be offered with consumer friendly approach like the anti aging product will
be offered at outlets of Beauty Giant across UK. It is necessary for the business to
approach buyers with the simplest process of selling because it helps in boosting sales
and increasing brand visibility which is one of the weakness of firm.
CONCLUSION
The assessment summarized essay which was based on key elements of marketing
function which plays crucial role in modern society. The essay also discussed about interrelation
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of marketing function with other functional units of modern organization. However, the second
part of assessment was report which was based on marketing plan and 7 P's of marketing mix
which is tactically applied by Beauty giant to launch its anti aging product Forever Young. Thus,
the report concluded with strategical analysis of Beauty Giants, marketing program, objectives
and program which will be implemented for marketing of new product.
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REFERENCES
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ZBYRANIK, Y. (2016). Peculiarities of applying complex marketing elements in the activity of
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Online
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<https://marketingmix.co.uk/>.
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