Marketing Essentials For Beauty Giant -Assignment
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Added on 2020-11-12
Marketing Essentials For Beauty Giant -Assignment
Added on 2020-11-12
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MARKETING ESSENTIAL
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key elements of marketing function and its roles.................................................................1P2 Interrelation of marketing with other functional departments...............................................3TASK 2............................................................................................................................................4P3 Marketing mix of Beauty Giant.............................................................................................4TASK 3............................................................................................................................................8P4 Evaluation of a basic marketing plan of an organisation.......................................................8CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing is a function used in promotions and distributions channels. This is consideredby almost every organisation to increase sales and revenues. This concept assists companies tomaintain relationships and coordination with customers at market place. It also spread awarenessamong individuals and attracts them towards products (Ajagbe, 2011). The function of marketingis interdependent and interconnected with other department of organisation which helps them toachieve their goals in assigned time. This report is prepared in context of 'Beauty Giant' which isa UK based company. The brand provides various cosmetic products, accessories such as, hairextensions, wigs weaves, braids, beauty items etc. and various men and women toiletries ofvarious world renounced brands. Along with this, marketing mix is also done in this projectwhich helps company to identify their level in market from its competitors. Additionally,marketing is also made in context of new product developed by company to analyse promotionand distribution strategies.TASK 1P1 Key elements of marketing function and its rolesAs per the modern scenario, marketing plays a vital role in development and growth oforganisation (Ogunmokun and Hsin Tang, 2012). To achieve success and objectives, it isimportant for a business enterprise to use several distribution and promotional modes to provideinformation to customers about new products. In this regard, there are some key elements androles of marketing which assist company to achieve their goals and objectives.Key elements of marketing functionsResearch is an essential element of marketing which aid business enterprise to carry outtheir functions effectively. In this, marketing department generate information from market aboutthe needs and desires of customers related to goods or services. By this, company canmanufacture products accordingly and satisfy demands of service users. This element defineswhat the market actually wants (Akaka, Vargo and Lusch, 2013). The company adopt theelement of marketing research to determine which strategy will best suited to organisation andwhich market is right for them to sell products. Generating relevant data from market assistorganisation in analyses and action.1
Strategy refers to the technique which company implements for improvements inactivities. After researching and analysing market conditions, company uses different strategiesto beat their competitors and to achieve success in market. By this, manager of company decidestheir vision, goal, mission and marketing objective. They also create various strategic plans toreach their set targets in assigned times. Planning refers to designing, creating and drawing business plans and programs. It isalso essential for management to develop plans before taking any actions. The manager ofcompany should provide knowledge and training to its employees about the projects and tasks.They should involve all staff members while planning their activities and functions. Properplanning gives estimations to members about how projects to be done and in which manner theycan complete it in time. Marketing planning involves, financial planning, communicationsstrategy and many more. In this, planning department also keeps records to determine whetherfunctions performed by management is on track or not.Tactics refers to the short-term plan which is implemented by company to allure morecustomers towards their products (Daniel, 2011). This help company to beat their competitors byproving better services and values to consumers. In involves sales tactics such as, discountingoffers, coupons buy one get one free, etc. The business enterprise also uses promotional tactic byreducing prices of commodities. In order to achieve competitive advantage and increaserevenues, it is important for organisation to implement smart tactics. Roles of marketing functionsMarketing department plays an essential role in managing companies performance andattaining their vision in time. It also helps in shaping company’s functions by fulfilling demandof customers with aim of increasing sales and revenues. In this, different roles played bymarketing section are as follows:Defining and managing brand is initial essential role of marketing department in anorganisation. It defines the meaning and how to manage a brand to achieve success. In this, themarketing manager of company communicates with customers about their product and receivesfeedbacks in return (Odunlami and Ofoegbu, 2011). By this, an organisation can easilyunderstand what consumer needs and what are their expectations form company. Producing marketing and promotional materials helps the manager of businessenterprise to advertise their product and services at market place. In this, they create materials2
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