Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1 The key roles and responsibilities of marketing function.....................................................1 P2 Roles and responsibilities of marketing in relation to wider organisational context.............3 TASK 2............................................................................................................................................4 P3 Marketing mix of Beauty Giant.............................................................................................4 TASK 3............................................................................................................................................8 P4 Evaluation of a basic marketing plan of an organisation.......................................................8 CONCLUSION..............................................................................................................................12 REFERENCES..............................................................................................................................12 .......................................................................................................................................................14
INTRODUCTION Marketing is a concept which is defined by creating, planning and developing business operations and functions. It is an important tool which helps organisation to fulfil needs and demands or customers. This is considered by almost all companies which helps them to develop relationship with potential clients. In this report, the concept of marketing is discussed which is under taken by famous organisation of UK (Al Khattab and As’ad, 2015). This project is prepared in context of 'Beauty Giant'. The company deals in various cosmetic and accessories products such as, hair extensions, wigs weaves, braids and many more beauty items. It also offersvariousmenandwomentoiletriesfromvariousworldrenouncedbrands.Inthis assignment, the role marketing is discussed along with its interrelation with other functional departments. Additionally, marketing mix and plan is also executed to carry out functions of organisation in an appropriate and effective manner. TASK 1 P1 The key roles and responsibilities of marketing function Marketingfunctionisaconceptofresearch,producingamarketplan,product development, etc. This also helps company in promotional and distribution of products and services at market place. There are some roles and responsibilities of marketing function which helps company to achieve their goals and objectives in allotted time frame. In context of 'Beauty Giant' some roles of marketing function are as follows: Identifying most appropriate strategiesis the role of marketing department to identify appropriate strategies and implements them properly. Appropriate strategies helps company to reach their targets. In marketing, tactics are used to promote products or services of company at market place. This spreads awareness among consumers at market place about new launch of organisation. The manager of Beauty Giant should also use effective and appropriate strategies to increase their demand and profitability margins. Identifying target marketsis another important role for which marketing department is accountable is to analysis and identify target market. It is also essential for company to determine in which market they have to serve their services and which is their target market. After analysis of market company can easily satisfy demand of potential customers (Lyus, Rogers and Simms,
2011). In Beauty Giant, the business enterprise should also identify their target market to accomplish goals and enhance larger market share. Producing internal communicationswith employees are considered to be very important part of company. They contribute their efforts to achieve growth and success of company. It is also crucial for manager of organisation to provide sufficient knowledge and training to its workers so that they can perform their tasks easily and attain organisational goals in allotted time frame. The manager Beauty Giant should also provide sufficient tools to their workers. They should also communicatewithemployeessothatmanagercanunderstandtheirmindsetproperly. Appropriate communication skills will also help employees to share their views and opinions with other members of company. Developing new productsis also an another role in which marketing function plays in developing new products. Marketing section perform its role by promoting and advertising the newlaunchesofcompanyatmarketplace.Theysetupcampaignprogramsandgive advertisements in newspapers so that more number of people can know about new service or product of organisation (Chikweche and Fletcher, 2012). In Beauty Giant, the marketing manager of company also contributes their efforts in promotional and distribution channels. This helps them to get reviews from customers and enhances productivity levels. Managing and monitoring social mediais essential for company. In this, the marketing manager of Beauty Giant should also monitor and manage their social media accounts. They should update all informations timely posted on websites. Producing marketing and promotional materialsis done before selling products at market place, the manager of company should produce proper marketing and promotional materials. They should give proper adds in newspapers, televisions, radios, print pamphlets, etc. This helps them to give all information of their products to customers includes its price. This should be also considered by Beauty Giant to enhance sales level and profitability margins. Key elements of marketing functions Researchrefers to the process or technique of identifying target market and customers desires related to products or services. It is an important key element of marketing function which assist company in attaining or accomplishing their goals or targets. In context of Beauty Giant, the marketing department of organisation considers program of research and development to determine their target market. In this they analyse which product is mostly preferred by
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services users and at what prices (Pappas, 2016). This also assists company in getting feedbacks from buyers related to services or goods. It is related with research and development department which helps them to do researching related to customers demand and preference. By this, organisation can easily accomplish their goals. Planningrefers to the concept of drawing and creating business plans. This is also an essential key element of marketing function which assist organisation in managing entire operations. By this, company can easily attain their objectives or tasks. The process of planning is also considered by manager of Beauty Giant which helps them to operate business operations in an effective and efficient manner. The manager of company also involves all its employees in planning process so that they can also performs their activities properly and systematically.This key element of marketing is essential and interrelated with production department. As production takes place after making proper plans and functions. Strategiesare techniques which manager of company implements to achieve business objectivesandgoals.Strategiesareconsideredafterplanningandresearchingrelevant information from market. This also helps Beauty Giant as by this they can identify all strength and weakness of business operations. It also provides valuable guidance to organisation to competewiththeirrivalsandgaincompetitiveadvantage.Themarketingsectionis interconnected with strategies as these are implemented according to needs and demands of market condition. Tacticsare also an essential element of marketing which helps company in achieving their goals and objectives (Conradie, Roberts-Lombard and Klopper, 2014). It is a short or term plan which is considered by organisation to attract more customers towards them. In this, they provides limited period offers or value added promotions to increase their sales or productivity levels. Tactics are also implemented by Beauty Giant to boost their sales allure buyers towards them. It helps marketing department in implementing new ideas by which they can accomplish their goals. P2 Roles and responsibilities of marketing in relation to wider organisational context In every organisation, marketing department is interlinked or interconnected with other functional departments of organisation. This is essential and beneficial for company in achieving their goals and objectives in time. In context of Beauty Giant, the marketing section of company is also interlinked which are as follows:
Marketing and production:In Beauty Giant, these departments are interconnected with each other and plays significant role in attaining market objectives. The marketing department generate relevant information from market about customers needs and demands. They give this information to production department so that they can manufacture only those products which are customers willing to buy. In this way, they helps each other in their functions and operations. Marketing and sales:Sales department of Beauty Giant also plays a major role achieving company objectives and targets. In this, marketing section of company provide details about desires of their target market (Ting, 2011). This helps them to sell those goods or services which customers wants to buy at their affordable prices. This will be easy for company in achieving their goals and objectives time and enhance their revenues. Marketing and Human resource:In this, the human resource department of Beauty Gianthelps company in recruiting candidates for job. In this, marketing section post on social websites of company about vacancies with all required information. By this, candidates can apply online according to their profiles (Plomaritou, Plomaritou and Giziakis, 2011). This assists HR division to hire best and capable employees to accomplish targets of organisation. Marketing and finance:In Beauty Giant, the finance or accounting department of company also helps company to attain company functions. It provides funds to marketing section in order to set up campaign programs and do promotions about products and services of company. This assist company to spread awareness and increase level of productivity. Finance department also keeps records of all transactions done by company such as cash inflows and outflows. This aid organisation in managing and operating functions in well and defined manner. TASK 2 P3 Marketing mix of Beauty Giant Marketing mix is a tool considered by company to achieve their goals and carry out their business objectives. This model is also used by the manager of Beauty Giant to improve their level of performance and gain competitive advantage at market place (Dioko, 2016). In this context, marketing mix of Beauty Giant is done under this statement. BasisBeauty GiantYardley ProductBeauty Giant is a brand of UK whichsellscosmeticand Yardleyisaninternational English based company which
beautyitems.Thecompany offers several cosmetic items and accessories such as, hair extension,braids,wigs weaves, etc. In addition to this, the company also deals men andwomentoiletriesfrom variousworldrenounced brands.Theorganisation providessuperiorquality products at affordable rates to itscustomers.Inorderto increase sales and attract more customers company uses uses skimming pricing strategy. operates its business in UK by WilliamYardley.The companydealsinvarious cosmetic and beauty products suchas,perfumes,toiletries body wash, oral care, etc. It provides products at affordable andreasonableratestoits customers.Inthis,the companyadoptslowcosts pricingstrategytoselltheir products. PromotionPromotionmeansadvertising or introducing new products at market place. It is said to be an essentialfactorofmarketing mix. In this, the manager of BeautyGiantadoptsseveral techniquesandchannelsof promotiontointroduce productsatmarketplace.It involves billboards, by posting onsocialmedia,printingin newspapers, etc (Ezekiel, Eze and Anyadighibe, 2013). This spreadsawarenessabout productamongcustomersin ThemanagerofYardley focuses on maintaining good relations and coordination with itscustomersthrough promotionalmodesand sponsorship. In this, company alsousesvarious advertisements and marketing channels such as, print media adverts,televisionadverts, socialmedia,etc.toattract customers towards them.
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market. PlaceThecompanyoperatesits businessinUKandhas approx. 50 branches all over the country. Beauty Giant is famousforitsbeautyand cosmeticitemswhichthey offerstotheircustomersat affordablerates.Theyalso focusandserveonlythose locations which are convenient for their customers to reach. Theyalsoprovideonline servicesandcostfree deliveriesondoorstepsto buyers. Yardleyisaglobalbrand which operates its business in UK. It also serves its services in many other countries such as USA, Asia, Europe, etc. It suppliesitsproducts throughout the world through multi-brand retail outlets. The brandalsoprovidesseveral discount vouchers and coupons to its buyers. PricePricing refers to the concept which company applies on its productstosellthemin market.Itisanessential componentconsideredby organisation.Incontextof BeautyGiant,thecompany adoptsskimmingpricing strategy to sell their products toconsumers.Skimming pricing strategy is a technique whichisdesignedand implementedbyorganisation tomaximisesalesand Inthis,themanagerof companyusespremium pricingstrategytoselltheir productsandjustifytheir quality.Accordingtothis strategy, organisation charges higher prices from their rivals withoutcompromisingin quality of their raw materials. Thishelpsthemtoenhance theirproductivityleveland sales revenues.
revenues (Goldstone, 2011). In this, company introduce their productsathighratesbut gradually reduces their costs as theircompetitorsappearsin market. By this, company can easilyattaintheirgoalsand objectivesinallottedtime frameandalluremore customers towards them. Physical evidenceItreferstotheenvironment andpackagingofproducts. According to this component themanagerofcompany maintainsfriendlyand atmosphereofoutlet(Sever, Sever and Kuhzady, 2015). It includeslogo,design, structure, etc. of company. In Beauty Giant, the manager of companyalsofocuseson cleanlinessandhygienesto retain customers in store for longerperiodoftime.This alsohelpsbusiness organisation to develop strong customersbaseandenhance larger market share. The manager of Yardley also focuses on store and packaging ofproductstoattracts customers towards them. The physicalevidenceand structureofcompanyis attractivethatmorebuyers come to visit the store. It is beneficialforthemasit enhances larger market share. PeopleThe manager of Beauty Giant focusesonitsemployeesas Inthis,themanagerof company provides professional
wellascustomers.They providesallbenefitstoits employees and service users. They give training session to their employees so that they can assist customers who visits store. This also helps them to perform their activities easily andinsystematicmanner (Haydon, Dunay and Krueger, 2012). training and knowledge to their employees about product. This helps them to provide details of products to consumers. The company also offers incentives and promotions to their staff membersaccordingtotheir performance. The organisation also provides various discount couponsanddealstotheir customers so that they can buy various products by redeeming vouchers and points. ProcessItreferstothemethodof productionorpreparationof products (Rosenbaum, Moraru and Labrecque, 2013). By this company produces products by allocatingallresources properly and effectively. It is an essential component which companyconsiderstoattract more customers. The manager ofBeautyGiantuses inventorycontrolprocess whichtoreducewastageof products. This leads them to producemoreproductsby enhancing larger market share and profitability margins. Yardleyadoptswell-tailored process to minimise their costs of production. By this they can easilyattaintheirgoalsand objectives and maximise their revenues.Thisalsoaid organisationtoattractmore buyers towards them.
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TASK 3 P4 Evaluation of a basic marketing plan of an organisation Marketingplan refers to the tools which shows overall efforts contributed by company to achieve objectives. It involves marketsituation analyses, action programs, budgets, sales forecast, etc. It has a formal structure used to create flexibility in plans or operations of company. In context of Beauty Giant, the manager of company also considers and execute plan to enhance larger market share and sell products to their targeted customers. Overview of company Beauty Giant is a UK based cosmetic company which has approx 50 branches all over country. The company provides products such as, body care items, hair extension, braids, wigs weaves, etc. It also provides men and women toiletries from various brands. The company sell products of other companies and have achieved a good name at market place (Khatwani and Srivastava, 2015). The manager of organisation provides training session to their employees which helps to perform well and enhances future opportunities. It is going to launch new anti- ageing product in market named as 'Forever Young'. In this, organisation targets over 30's market. Mission:The mission of Beauty Giant is provide best and superior quality products which do notaffect in any way. Vision:The vision of Beauty Giant is to become a first choice of customers in category of beauty products. Marketing objective: The main objective of Beauty Giant is to increase their level of sales by 30% within 3 months. To produce product with aim of increasing market share by 20% within 2 years. STP:It is a concept which helps company to segment its market according to product category and customers preference. It stands for Segmentation, Targeting, Positioning. It is beneficial for Beauty Giant as by this they can sell their products and identify their position at market place. Segmentation:In this, the company can segment its market in different categories and serve its products to fulfil demands of buyers (Scott and Flynn, 2014). By this, organisation can achieve its objectives and goals in allotted time frame. It involves different categories of buyers in which business enterprise can divide its market as follows:
(a) Geographic:If the manager of Beauty Giant is segmenting its market according to this factor then they have to focus on buyers who resides in geographical locations such as, state, region, city, etc. (b) Psycho-graphic:In this company have to focus on lifestyle and living standard of people if they are segmenting their market on psycho-graphic factor. (c) Behavioural:As per this factor, company have to deal with consumers attitudes and behaviour towards products if they are segmenting their market on behavioural factor. They should serve products which buyers are willing to buy. (d) Demographic:It involves education, occupation, annual income, gender, etc. In this company should apply prices according to per capita income of buyers if they wish to segment this category. Thus, from the above category, the organisation target its market according to psycho- graphic factor. These people focus much or their lifestyle and living standard. Targeting:In this, company targets those service users who are more likely to buy cosmetic and beauty products. Positioning:In this, organisation can identify its brand position at market place in comparison form their competitors. They can also analysis their strength and weaknesses of goods. Marketing strategy It is a long term approach which helps company to achieve their goals and competitive advantage at market place (Laiwechpittaya and Udomkit, 2013). In Beauty Giant, the company uses relationship strategy to make their customer base strong and enhance productivity level. Swot analysis of Beauty Giant Strength Prices are affordable and reasonable. Large range of options in category of cosmetic and beauty. Weakness High number of competitors at market place. High costs of raw materials. Opportunities The stocks more organic products. Threats Fluctuations in foreign exchange rates.
Opportunity of expanding business all over UK and across the country. Changing in government policies. Marketing mix of new anti-ageing product “young forever” (Source: Marketing mix, 2018) Product:The company Beauty Giant is going to launch new anti ageing product 'young forever'. They should provide superior quality product at affordable rate which consumers can easily. Price:The company should use skimming pricing strategy to increase their sales and attract more customers towards them. Place:The organisation should serve their products at places which are convenient and easily reachable for customers. Promotion:The marketing manager of organisation should promote their products market place through various modes (Laran and Tsiros, 2013). They should giveadvertisements in newspaper, television, etc. Process:The manager of brand company should provide easy transaction process to their customers such as, payments through cash, credit cards or bank transfer. Illustration1: Marketing mix
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Physical evidence:The outlets should also be attractive, hygienic and healthy. They should consider decent colours packaging of product to allure more buyers towards them. People:The manager of Beauty Giant should provide training to its employees about details of new products so that they can assist buyer related to goods (Marketing mix,2018). Marketing budget Particulars1styear2ndyear3rdyear4thyear Initial money100001500060007000 Investment100001000060008000 Total20000250001200015000 Marketing outlay 15000300050005000 Promotion5000300050003000 Sales publicity 5000200050003000 Direct selling 3000300050003000 Total28000110002000014000 Monitoring and control Marketing plan is essential for company which helps them to carry out their operations in set time. The manager of Beauty Giant should implement marketing plan and monitor it timely. This aid them in reducing risks and obtain better results and outcomes (Luchs, Griffin and Swan, 2015). Thus, by this company can easily accomplish their goals and objectives with increasing profitability margins. CONCLUSION From the above report it has been concluded that marketing is an essential factor for achieving success and growth of company. By this organisation can advertise its products at market place and gain competitive advantage. Along with this, interrelation of marketing with other functional units is also discussed in this report which helps them to produce valuable products. In addition to this, marketing mix and marketing plan is also specified in this assignment which assist organisation to keep record of all activities done by staff members.
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