Marketing Essentials Report: Role, Elements, and Strategic Plan

This report delves into the core elements of marketing, elucidating its pivotal role within modern organizations. It examines the key functions of marketing, analyzing their interdependencies and contributions to overall business objectives. The report provides an in-depth analysis of marketing concepts such as production, selling, and social concepts, emphasizing their significance in contemporary business practices. Furthermore, it presents a strategic marketing plan tailored for the launch of a new product, "Forever Young", a cosmetic product designed to target a specific market segment. This plan includes a comprehensive market analysis, an internal analysis using Porter's Value Chain, and outlines strategies for product development, communication, and relationship building. The report also explores the integration of marketing with other functional areas, such as operations, finance, and human resources, highlighting the importance of cross-departmental collaboration for achieving marketing goals. The report concludes with a strategic marketing plan for Beauty Giant, a cosmetic selling company, to launch a new product, "Forever Young".

Marketing essential

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Explaining the role of marketing in modern organization..........................................................1
Evaluating key elements of the marketing functions and its interrelationship with other
functions in a modern organization.............................................................................................2
PART 2............................................................................................................................................4
Develop a Strategic Marketing Plan for the new product “Forever Young”..............................4
CONCLUSION..............................................................................................................................11
REFERENCES .............................................................................................................................12
Definition ......................................................................................................................................13

INTRODUCTION
Marketing is one of the most understanding disciplinary tool for the organisation. In other
words, Marketing is the activity which also analyse the needs of the customers and promote the
brand products or company design in the market. The main purpose of marketing is to build up
the strategies that satisfy customer needs, increase sales, maximize profit. Present study has been
based on marketing essentials. Present study has been on the report of Beauty Giant which is a
cosmetic selling institution that has so far 50 branches all over the UK. Present study will be
explaining about role of marketing in modern organisation. Further, in this report also explains
the marketing elements of the marketing function. Functions in a modern organisation. In the
next segment of the study will be preparing a strategic marketing plan in order to promote the
new product (Moreover Young) in across the different market.
PART 1
Marketing is the activity of business that defined the product knowledge in front of the
customers. Marketing management is basically focused on the process or services move from
concept to the customer (Mishra, S. and Modi, S. B., 2016)
Concept of marketing
Production Concept : Production concept is the significant concept in which company
only focuses on the products that it could be most efficiently related with the supply of low cost
products. Besides, Production concept is the main concept which directly related to the product
supply.
Selling Concept : Sales concept is the concept on which company has to focus on the
selling process in order to meet out the leading development goals and through company get the
final objectives and goals. Sales concept basically wants to beat the level of competition to the
sales with the sales objectives.
Marketing Concept : Marketing is the concept which is the vital for the company to
gain sales volume. In other words, marketing objectives is to promote the company product and
goals in the best possible manner. Marketing concept focus on to fulfill the aims and objectives
of customer needs and wants.
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Social Concept : This social concepts aim is to pure marketing concept overlooks
possible conflicts between consumer short run wants and consumer long run welfare. Societal
marketing concepts holds marketing strategy should driver value to customers in a way that
maintains or improves both the consumer and society well being.
Explaining the role of marketing in modern organization.
It explained the role of marketing summarized in one small article. As compare to old
times, now marketing having different aspect to deal with the clients and the market or with the
competitors as well (Boulton, 2019). The main role of marketing in modern business
environment is given below:
Creating A Brand
This is the foremost role of marketing to create a brand image in the competitive market.
The brand is the company's most valuable asset and the sole responsibility to maintained the
product position withing market. In present world, Brand is not just a combination of name,
symbol, and design, It is the business consumer relationship.
Product Development
Product development is the process is to explore the new opportunity to make the
effective working outcomes Product development is the foremost activity which helps to
maximize the customer attention.
Communication
Marketing also play role which communicate the message directly to the customers in
different channel of medium (Chaffey and Allen,2015). Competition is everywhere and
sometimes it’s only the good Nowadays, company can connect with different mediums such as
internet, smart devices, social media in order to lead the new advantage goals and services.
Building Relationship
Building a relationship and built the trust is the foremost responsibility of the marketers
in order to perform the or accomplish business activities. Marketing plays a most significant role
in order to maintained the customer relationship and goals (Importance of Marketing. 2018).
Maintaining The company Reputation
Another most essential and significant role of marketing is to maintain the company's
reputation which is correlated to the brand equity of the business (Chitty, D'Alessandro and
Gray, 2019). This is the most foremost responsibility of marketing to build up the good image of
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the company in market so that it create more customer awareness and market growth opportunity
in order to meet out the best developing result and growth. In other words, it helps to continue
the long lasting work opportunity it makes the new work identification which helps to meet out
the most effective leading opportunity goals.
Evaluating key elements of the marketing functions and its interrelationship with other functions
in a modern organization.
Marketing activities and planning is all interrelated with each other’s which starts from
the marketing plan it also covers the new strategies and developing the new sources and effective
leadership styles and growth. Marketing department of the organization is very fruitful and
effective for the company to accomplish their aims and objectives into the best possible results
and growth in the best possible manner. The nature of department will need to work closely work
together in order to develop the most effective learning target group that maintains the effective
leadership styles (Dyllick and Muff, 2016). In other words, it also helps to determine the goals
and objectives.
There are different elements of marketing function that interrelate with each other’s in
order to meet out the goals and objectives in different situational context.
Key elements of Marketing Function
Research: Research is the most important kind of element that helps to determine the
actual market demand that helps to build the most enlarging result goals. Research also helps
company to launching the new product development.
Strategy: Strategy is the another key element of marketing which stands and also for the
company in the to build up the company challenging goals.
Planning: it is the foremost key element of marketing that helps to m=fulfill the
company demands and goals. Also, it helps to build the company long term value.
Tactics: Tactics are the street smart and short term which plans that company needs to
fulfilled into their functional goals.
Marketing interrelate with the Operation management/production
Marketing department will need to seek help from the operation departments in order to
share the information regarding new product development their overall cost and resources
required. Manager require taking suggestions from the operation management to satisfy the
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current and future customer needs. This works helps to meet out the works into more effective
manner. In order words it also helps to discover the new emerging market opportunities goals.
Marketing department support operation department by sharing the new market demand
and recent trends in order to meet out the customer attention and long lasting results.
Marketing interrelate with Finance Department
This is the another department which interrelate with the marketing elements in many
terms. Apart from that, the marketing department will need to work closely with the finance
department to ensure several things. Such marketing manager should need to take review from
the finance department in order to set the budget for new product development and managing the
work accordingly. Apart from that, it also develops the great understanding between the budget
that helps manager to utilize maximum output by investing less amount (Feng, Morgan and
Rego, 2015). In other words, marketing manager should have required to take advice from the
financial department in order to meet out the needs of the customer and achieve the company
goals and activities. Marketing function support finance department by giving them the high
sales volume to the company profits.
Marketing interrelate Human Resource Management
The marketing Department will need to work more closely with the HRM to ensure that
appropriate skills and staffing levels are in place to get the best outcome and results for the
company development growth in other words. Marketing manager interrelate with HR
department in order to give the information about new requirement within the company in order
to fill the vacant vacancies. Marketing department support HR in order to let them explain the
new employees needs in the company. In other words, marketing department also brings
innovation methods and innovative approaches for the company in order to make the good
impression on the business goals.
Human Resource department is a kind of play a central role who need to be connect with
all departments in order to evaluate the individual nature and development growth for better
performance. In other words, HR required to recruit and select best employees for the marketing
department with high competency level (Hill, 2017). Human Resources is the department who
contributes the best developing results in order to meet
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PART 2
Develop a Strategic Marketing Plan for the new product “Forever Young”
Scenario
Present marketing scenario is all about to launch the new product services aim order to
meet out the company aims and objectives. Beauty Giant is the cosmetic selling company that
has so far 50 branches all over the UK market. Beauty Giant usually sell the men and women
toilets from various world renounced brands so far, they all ready exist effective management
opportunity and goals in order to meet out the best target opportunity and goals in order to meet
out the best and development goals. To take the best development and effective learning source
to develop the business advantage results. In order to launch Forever Young company required to
built proper systematic marketing plan in order to analyze the market situation and proper
implementation plan accordingly.
Executive Summary
Marketing activities plan is the most efficient and long lasting plan in order to build up
the effective management objectives which full fills the result in order to meet out the
management plans and goals (Lovelock and Patterson, 2015). Present marketing plan has been
based on Forever Young which represented the overall market analysis situational analysis in
order to get the positive outcomes for the betterment of the company.
Company overview
Beauty Giant is the beauty cosmetic company who recently planning to launch new
Product such as Forever Young which is an aging cream for both male or female. Company
taking the new development which is Forever Young which they want to sell in the new market.
Current Marketing Situation Analysis
Internal analysis
Porter's Value Chain activities -this activities can be classified generally either Primary activities
and Secondary activities
Primary activities
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Inbound Logistics : Inbound logistics involved activities some receiving, storming and
internal system of the raw products or basic elements of the services or products. Company needs
to maintained the good relation with new working opportunity to deal with the new working
target new working.
Production : Production is the process of transforming the inputs of by products or
services into another form.
Outbound Logistics : Outbound logistics involves activities which relates of given the
product or services to the end buyer. This effects the better distribution way.
Marketing and sales : this process includes how Beauty Giant will promote or launch
the product in the market.
Service : In order to promote products Beauty Giant has to develop the deep
understanding developing the new goals and objectives to promote company brand value.
Procurement : Procurement is the process of accepting and agreeing the terms
and conditions of goods and services. This is the also process to ensure to receives the
goods and services at the best possible deal.
Human Resource Management : HRM is the department within the organization
that controls the human resource issues and challenges that they faced. In other words,
HR manager is responsible to sustain the employee development and leading challenging
goals and objectives. HRM take care of human resource planning, policies.
Technological Development : Technological development can help Beauty Giant
to take the new challenges and development criteria. Technological development
increasing the chances of new development era. Along with that, technological growth is
much cost effective and time saving approach to perform any kind of work.
Infrastructure : Infrastructure attracts people and enhance the company brand
effectiveness. Besides, infrastructure should have the most attractive thing that should
company have. In other words, it would be the best manner to presents the good
impression.
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External analysis
PESTLE
Political: Political changes is highly affected cause of uncertain business environment in
which company operates. Beauty Giant requires adhering all kinds of policies and regulations
imposed by the government in order to protect the customer interest. Moreover, it also helps to
bring the new advantage and leading goal objective task in order to meet out the best
development growth. Beauty Giant need to be aware about the government regulations and adopt
the Personal Care Product Safety act.
Economical: Economic factor is the another highly affected factor that affect company
profitability. Uncertain economic condition of the country or place where Beauty Giant wants to
expand its operation would affect the company growth. Such as if customer are become more
price conscious so it might be wrong for the company. But in beauty products, customer
generally preferred quality rather than price (Vellas, 2016). So this might be the plus point for
the organization to gain high sales volume.
Social: Social factor affect due to different social determinants. Customers are the most
key element to business success. In terms of beauty cosmetic industry, customer loyalty plays a
most important role. So it is very necessary for the company to create customer faith on the
beauty product and get the good response from the market. Apart from that, it discovers the new
enlarging and different opportunity goals in order to response the best and developing results in
order to accomplish the business objectives.
Technological: Technological innovation and the use of new digital era helps companies
to get some innovation to gain the customer attention towards the company products, Which
helps to motivate the new development areas for the Beauty Giant to explore its market in
different other places. Like, Beauty Giant can explore its product with the help of digital
technologies, online marketing, Mobile Marketing, Google Ad-words, etc (Zavyalova and et.al.,
2016). All these are the marketing platform or advanced tools to gain the customer attention on
company websites that can be more benefited for the company.
Legal: Legal is the another basic and most challenging factor that would affect the
company overall structure in case company fail to followed the proper legal or company
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structure. Beauty Giant should have to ensure their product ingredients in case where they need
to develop new emerging market opportunity. Beauty Giant also follow the policies and act of
Drug and Cosmetic Act in order to minimize the uncertain risk among the business. In order to
that, it also affects the business growth in more inappropriate manner.
Environmental: Environment factor highly affect the cosmetic industry or companies
due to which they need to change their product as well. In other words, like in present scenario
cosmetic company focusing on the green or organic cosmetic products which is highly effective
rather than chemical products. Make sure its product is not harmful to sensitive skin and
benefited to the consumer in all aspects. Otherwise, product never gain attention from the buyers.
SWOT Analysis
Strength : Strength of if the Beauty Giant is they provide healthy beauty products to
their clients on the basis their needs and wants. Another strength of the company is they spread
across the multiple channels like retail, wholesale and e-commerce. It gains high customer
loyalty and advantageous growth in order to meet out the best developing results and customer
wants.
Weaknesses: Unpredictable and high fluctuation in store sales, in other words, it grows
the new advantage and leading development opportunity and develop the high range of effective
result target opportunity (Swinburn and et.al., 2017).
Opportunity: Global Investment to expand its international footprint, currently it serves
only north and south America and Europe. Company have various opportunity through which
they gain high advantageous profit. Such as company can expand its business at national level.
Besides, they also have opportunity to gain the effective target marketing by entering into the e-
commerce segment.
Threat: Beauty Giant is the small based company due to which they need to suffer high
competition in the market of high cosmetic brands. Product diversion could lead to reduction in
exclusively of the company brands (Tzokas and et.al, 2015).
In order to present strategic marketing plan the main purpose behind is to implement the
new product development awareness among customers with the help of productive marketing
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plan. Goals and objective of the company behind this new implementation is to expand the
business across the UK in order to gain future opportunity (Nijssen, 2017).
The main objective of marketing plan is to find out the new product development and
growth that helps to differentiate the company from other brands. Company aims is to increases
the profit by 20% in 2022.
Strategy
Ansoff's Matrix
Product Development : In order to develop the market share and company existing
position. Beauty Giant Should need to acquire the product development strategy in order to
introduced in the new market share. This strategy of market helps to focused on the needs and
wants of target customers that gain the new market growth and profitability ratio of the company.
Such as Forever Young will be going to be launch at which place.
Market Penetration : Market Penetration is the another challenging strategy for the
market development which gain the company shares in to long term market. It is used by the
company for new products are introduced into existing market. It focuses on the needs of target
customers. In other words, product development includes changing product outlook or
presentation, increases the product into the best development. This strategy can also company
adopted in order to meet out the company aims and objectives.
Market Development : Market development is the foremost effective strategy of growth
which is used to sell existing products into new market. This is usually when a business is
completely happy with their sales in existing market and wants to grow the business into further
market by introducing the new product as Beauty Giant launching a new product Forever Young
into the market for aging (Zavyalova, A. and et.al., 2016).
Diversification : Diversification Strategy achieves growth by selling new products to
completely new market. This strategy involves the highest risk and it is about selling new
market. But on the same side, it also involves high risk due to selling new product in the market.
Beauty Giant can use this strategy to expand the business or sales of the company.
Segmentation,Targeting and positioning(STP)
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Segmenting: Segmenting is the marketing term which denotes the effective time in order to meet
out the best developing results in order to meet out the best result growth. Apart from that,
segmentation is the marketing techniques through which Beauty Giant can easily build up the
high range of effective result goals in order to meet out the company result and goals. In other
words, segment is the way through company can easily identify customer needs and segment
market. Beauty Giant research for their present product it identifies how people really want
beauty products which is organic and which is also anti-aging. In other words, This focus on the
customer data. Beauty Giant Segmenting their buyers on age basis such as Forever Young anti
aging create which is most appropriate for both man and women who age is above 35.
Targeting: Target marketing positioning is the competitive market in other words, it helps to
make the long lasting effects and making the new effective and process oriented goals. Beauty
Giant set the target segments from the different option such as select online targeting, target
segments, online revenue contribution for each segment (Ramalingam and Alexander, 2017). In
other words, company selects the online targeting through they easily meet out the needs of
international buyers as well. Beauty Giant target customers whose age is 35 to 40 man or women
both for selling their aging cream. Beauty Giant targeting cosmetic fashion market by the help of
promotional activities such as and provides the best cosmetics to buyers.
Positioning: Positioning is the another tool to identify their target group or identifying variables
to determine the market overview. Positioning is the tool that helps to identify proposition for
each segment. Positioning are from different form such as core brand proposition, target
segments and online revenue contribution. In order to sustained company position in the market
company choosing online platform to promote the product or services. In other words positioning
is the process where company target's perception of the products key benefits and features,
relative to the offering of competitive products.
Marketing Mix
Marketing mix is essential commerce tool which is more effective and productive tool
way to make the challenging marketing plan. (Zavyalova and et.al., 2016). That affect the best
and leading generating tool to make the most effective result oriented goals in order to meet out
the company aims and objectives. In other words. Marketing strategy element is the or
operational part of a marketing plan. The services marketing mix is also called the 7Ps in which
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