The Role of Marketing in Product Success

This assignment requires students to analyze the importance of marketing in product success and organizational growth. Students are expected to explore various research articles and studies to understand the role of marketing in making a product successful. The assignment covers topics such as the 7Ps of marketing, marketing strategies, customer satisfaction, and the impact of marketing on shareholder wealth. Students are also required to provide a summary of the key findings from the research articles and studies.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
LO 2.................................................................................................................................................3
P3 Marketing mix comparison.....................................................................................................3
LO 3.................................................................................................................................................7
P4 Define and evaluate marketing plan for the enterprise...........................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is social process by which individuals and organisations is responsible for
identifying, anticipating, and satisfying the requirement of customers (Hamzah and Sutanto,
2016). This can be termed out as set of institution and process that work as to creating,
communicating, delivering and exchanging offers and values for customer, clients and society at
large. It is related to buying and selling the product and services at the right price. The core part
of it, to analyse the need and wants of customers in terms to create value for them and build
strong customer relationship management.
The present report is based on business activities of Beauty giants, UK, it is cosmetic
selling company and have 50 branches in all over the world. The company has decided to launch
the new anti ageing product named as Forever Young. Furthermore, assignment will look over
things as roles and responsibilities of marketing function, marketing mix to achieve business
objectives and to frame and evaluate the basic marketing plan for the new product that enterprise
is about to launch.
LO 1
P1. Roles and responsibilities of marketing in a wider organisational context
Every business need to promote the product for sale therefore role of marketing department
is one of the most important aspect to promote business and their product. Marketing department
organised Exhibitions, Seminars, Events etc. to promote product. In marketing many functions
have included just like product price, Distribution, financing, promotion, selling, purchasing. Etc
(Mishra and Modi, 2016).
Presently many cosmetics companies are available in the market that is why it’s very
challenging for companies to prove themselves and make the position in the market. Marketers
research consumer needs and according to the needs marketers prepare strategies. Marketing has
a very important role. Marketing department has various roles in the organisation. IT can support
in making consumer aware about the products that they are delivering. (Kyriakopoulos, Hughes
and Hughes, 2016).
Enhance consumer interaction: Marketing can help in interacting with consumers.
Beauty Giant Company use new ideas for promoting its product. Mainly marketing team interact
with the people and tell all benefits of the product. Marketing team is responsible for the product
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presentation. Now online marketing through social media, digital marketing, mobile friendly is
one of the best idea for promote our product. In the market different types of marketing strategies
are available like internet marketing, relationship marketing, word of mouth etc. By taking
support of these platform entity can make effective communication with its consumers.
Marketing supports Promotion: Promotion refers to all activities where company
promote their product like through social media, Events, seminars etc (Cross, Harrison and Gilly,
2017). Marketing role is the very important for any company who will make position in the
market. Every strategy has work in different way and its also depends on the company how to
promote their product.
Market research: Conducting market research is role of marketing that helps in
identifying needs of consumers and offering them services as per their requirement of people. In
competitive environment every company needs to focus on marketing department who handle all
the things related to the market. Only because of marketing product visibility increase and that is
why sales also increase (Kasemsap, 2015).
P2. Roles and responsibilities of marketing relating to wider organisational context
Marketing is essential function that always helps business in raising demand for products
and promoting brand well. Beauty Giant is the cosmetic firm that always ensure to offer goods
and services to consumers as per the needs of customers. One of the major role of marketing is to
meet the needs of potential buyers (Hume and Hume, 2015). Marketing functions are linked with
other functional departments like human resource, finance, research and development. Like for
example promoting the product by using various promotional tools such as advertising, social
media platform can support Beauty Giant in increasing the sales of the product like forever
young. This can increase the profitability and revenue of company. In this way finance
department is interlinked with marketing. It can also help industry in gaining competitive
advantage.
Planner: Marketing plays role of planner. Beauty Giant marketing departments set
marketing objectives and make plan for achieving these goals. This is helpful in formulating
strategies and devices policies effectively.(Moss, 2017). The correlation of marketing and human
resources, functions in motivating behaviour of customer-contact, employees etc. Firm have to
maintain the value the interaction between Marketing department and Human Resource so that
they can attract the right talent in the organisation. Firm must be engaged in hiring right people at
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the right job. This can also help Beauty Giant in gaining competitive advantage. Through
marketing enterprise makes effective communication with consumers which are essential human
resource for company and make them understand with benefits of new products. This aids
organisation in gaining competitive advantage and sustaining in market for longer duration.
Effective marketing promotion can also support Beauty Giant in attracting large number of
consumers.
Researcher: Marketing functions is also inter-connected with the research function.
Marketing research can support Beauty Giant in knowing the needs and demands of consumers.
It will help them in understanding and evaluating the data about consumer, demographics and
climate. (Role of Marketing: Top 10 Important Role of Marketing in Making a Product
Successful, 2018). By taking assistance of social media and mobile application tools entity can
make effective coordination with its potential buyers. This aids in making them positive and
influencing their decision as well.
Problem solver: Marketing plays the role of problem solver. Through market research firm
get to know issues and existing products and gap between available goods and required products.
This can help them in increasing the production of company. Marketing research can support
Beauty Giant in gaining competitive advantage (What is the importance of marketing in an
organization, 2014). Also firm by laying emphasis on effective promotion of products can
support in enhancing the sale of forever young product. In this way marketing function is inter-
connected with sales and promotion department. Marketing supports in finding perspective of
consumers towards the item thus, management can develop its existing products accordingly.
LO 2
P3 Marketing mix comparison
Every company needs to focus upon its marketing mix strategies for continuous growth
and development. Generally, the marketing mix strategy depends upon the 7 Ps of marketing
which are the essential pillars of marketing strategy.
The 7 Ps of marketing mix are as follows:
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Figure 1marketing mix elements
(Source: Extended Marketing Mix (7P's), 2018)
All the 7 Ps of marketing mix strategy must have a creative and distinguished aspect, to
build certain uniqueness within the services and the brand name. The organizations must
emphasis upon each of the Ps of marketing strategy and should recognize the primary
requirements of the organization/ brand/ business to align with different existing competitors.
Continuous evaluations and monitoring of the market as well as the strategies are the basic
requirement for marketing any product or service.
Based on the marketing mix strategies, a comparison has been designed b/w two cosmetic
brands and the pattern of the marketing strategies of both the brands have briefly defined.
COMPARISION OF 7 Ps OF BEAUTY GIANT AND LO'REAL -
7 Ps of Marketing Mix Beauty Giant L'Oreal
PRODUCT Availability of standard range
of products related to Skincare,
Make-up and Hair care
(Mishra and Modi, 2016).
Provide wide range of products
starts from Skin care, Hair
care, Make up to Hair colour.
PRICE Beauty Giant uses market
penetration pricing strategies,
basically to reduce the interest
L'Oreal uses product divisional
strategies for pricing which
facilitates them to control and
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of competitors that helps the
company to stay in the market
with healthy competition.
monitor their pricing ranges
according to the requirements.
The brand tends to believe in
value based pricing strategies.
PLACE The beauty brand has a well
designed website to reach up
to the suppliers and retailers.
The company products are
available at retail stores,
cosmetic stores, malls,
hypermarkets. It has an active
distributive channel that
incorporates wide area of
retailers and advertising
partners to deliver its products
at each and every possible
destination (Hume and Hume,
2015).
The company has a huge
network of distributors,
suppliers, retailers which help
it immensely worldwide. The
products of L'Oreal covers vast
number of customers with
increasing e commerce, retail
stores and advanced workforce
with efficient distribution
channel and network.
PROMOTION The company has an active
and advanced channel for
promotions. It has conducted
various campaigns, Fashion
exhibitions, contests. It is
planning to publish a beauty
magazine that incorporates all
its products description. The
brand has been actively using
the traditional and modern
modes of advertisement for
continuous growth and
The brand has a strong
promotional strategy. It has
been involved in various social
welfare activities with the
organizations like UNESCO,
CARE. The brand has linked
its name with the National,
International faces as their
brand Ambassadors throughout
the world (Moss, 2017).
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promotions.
PEOPLE The beauty brand has well
trained workforce to
accomplish each and every
predefined targets of the
company. From designing the
product to distributing it
through different channels, the
manpower selects the most
appropriate yet professional
way of dealing with it. Beauty
Giant has efficient Marketing,
Human Resource management
team, the partners of the brand
are connected in a healthy and
supportive way and continue
to deliver the required services
to the company as well as to
the customers (Kasemsap,
2015).
L'Oreal has an active
workforce for marketing,
resource allocations, customer
service relations. The policy of
brand depends upon the value
based services and linking with
various projects actively with
the aim of involving creative
members. The brand has a
strong team of investors and
shareholders who are
consistent with their
commitments. The brand has a
working team with a scientific
approach towards their each
and every initiative.
PHYSICAL EVIDENCE Beauty Giant has a distinctive
speciality of providing special
and amazing names to its
products. Also, the brand has
the quality of posting
appealing tag lines for each of
its products. The products are
promising in nature.
L'Oreal salons has great
ambience and attractive free
gifts for the customers. L'Oreal
is famous for its wide range of
products with a sophisticated
packaging patterns. The brand
has successfully maintain the
high quality and standard of
services for its customers.
PROCESS Beauty Giant follows L'Oreal has smooth delivery
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standardized protocols for the
manufacturing and delivering
its products. The brand prefers
to manufacture ecofriendly
products. Beauty Giant is
approachable for its customers
and continue to develop a loyal
and friendly bond to its
customers and workforce too.
procedures and routes. The
products have the descriptions
for further contacts and
complaints. L'Oreal customer
service portal is lacking behind
due to long waiting time yet it
has become a lovable brand. It
also has a segment of
manufacturing ecofriendly
products with high quality of
customer safety preferences
(Cross, Harrison and Gilly,
2017).
LO 3
P4 Define and evaluate marketing plan for the enterprise.
This is plan that works as to outlining the marketing strategies and tactics. It defines the
business advertising and marketing efforts in relation to accomplishment of specific marketing
objectives (Liu, Chen and Balachander, 2017). Thus, it will be conducted in following defined
manner as are-
Executive Summary- The Beauty Giant is cosmetic selling company and it works as to provide
range of beauty product to customer in UK. Recently, firm has planned to launch new product
line of anti aging that names as forever Young. The main aim of entity is to spread their business
working in almost around 30 markets (Mishra and Modi, 2016).
Mission- In order to be the favourite of customers they works as to provide the brilliant services
with unmatched quality, cleanliness and values. This is effective way to offer the better
experience and to bring smiles in the faces of million people every day.
Vision- To be the quality firm in terms to beauty products the entity is supported by set of core
values and guiding principles (Kyriakopoulos, Hughes and Hughes, 2016).
Objectives- Objective of the company is to increase the sale of forever young product by 20%
till the end of 2019.
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SWOT Analysis-
This is effective way to measure the strength, weakness, opportunities and threats and it
has defined in following context as are-
Strength
11 High quality- The Beauty Giant offers customers the better quality products. The
commodities are of both types as cost effective and expensive.11 International access- This firm works as to distribute its product and services in nearly
about the 50 branches. Thus, they manufacture and distribute products in bulk so it is less
expensive than buying the commodities in small quantities at a time (Helm and Gritsch,
2014).11 Moving into the organic- The customers wants glowing skin so that this firm has
launched the anti aging mask. It is very expensive to use the organic products but Beauty
giant do not get hesitate.
Weakness-
11 This firm has decentralized organizational structure and because of many subdivision of
company it is the major threat to Beauty Giant (Bahl and Chandra, 2018).11 In market, there is huge amount of the stiff competition for the other leading cosmetic
established brands in UK.
Opportunities-
1. The growing demand for beauty products works as to give opportunity to put its
consideration over the field of specialization by analyzing the need and wants of
customers.
2. By providing the quality anti aging products they can be able to expand its operation in
new 30 markets.
Threats-
1. The one of the major threat is that there is stiff competition among the cosmetic brands.
2. In this, the economic downturn will be quite evident in other resources.
3. Beauty Giant produces its products not for the daily use so that customer sometimes skip
to have use of it.
Pestle analysis-
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 Political- The political factor will be inclusive of the rules and regulations of the legal
authorities. Thus, the number of the import policies and region plays vital role in order to
determine the success of the enterprise.
 Economical factor- The factor as exchange rates and recession element plays the crucial
role in terms ti upbringing the cosmetic organization like Beauty Giant. Thus,, the price
of the products are varied in the differ countries. Thus, firm should provide quality
product at the reasonable price.
 Social- This helps to encompass the latest trends in the market. Thus, taste and
preferences of the customer also plays crucial role in terms to attract the customers in the
market.
 Technology- The technical advancement has its greater ramification in every sphere of
life. Thus, innovation has played greater role in attracting the customer towards the
services (Fernandes, 2018). With the advent of technologies the firm can able to bring
better and effective services.
 Legal- In order to get the success in market it is essential to abide by the legislation so
that each thing can be conducted in better mode. This kind of factors is very essential to
brand like Beauty Giant.
 Environmental- This is factor that encompass various global environment safety laws and
must be bide by the global standards. It is leading international brand and produce its
services effectively.
Process of STP
 Segmentation- Objective of the firm is to increase the sale of forever young product.
Segmentation will be done on demographic basis. Company will segment market
according to the age of consumer. They will focus on young adults.
 Targeting- In order to launch product in market, the Beauty Giant has selected the Middle
age women who faces the major issues of wrinkles and aging spots on face. Thus,
company will launch a beauty campaign to promote the features of beauty products of its
commodity.
 Positioning- Experiential positioning strategy will be used by company so that they can
be able to know and understand about the consumers desires.
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Marketing program- It is coordinated and designed the set of activities that helps to achieve the
ultimate goal ( Massingham and Pomering, 2017). These are the strategic goals that can help
firm to evaluate the strength and weakness of the enterprise so that with the support of better
marketing skill all things can be conducted in better mode.
Budget
Monitoring & Evaluation-
After finalizing all the activities, it is crucial to monitor the overall process so that better
alternative can be drawn. This aids to define the gap between actual and planned process and if
there is any deviation that suggestive measures can be taken.
Marketing mix-
 Product- the Beauty Giant is taking various initiatives in launching the anti aging product
for the middle age women and product named as Forever young. The main perspective is
to maintain the quality so that they can attract the customers.
 Place- Firm will launch their product in United Kingdom. They are operating their
business in almost around 50 branches of Beauty Giant. Thus, they will open their
product launch in shopping malls so that they can attract the wide range of customers.
 Price- The main aim of Beauty Giant is to use the prices to maximize the profit margins
and sales volumes. At the initial level the firm will have the use of bundle pricing
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strategies so that they can offer the commodities at the discounted price compared to
purchase each commodity by paying separate price.
 Promotion- This is the step at which customer will put its major consideration over
marketing communication with the target customer. In this, the target customer as Middle
age women, who faces the major issues of wrinkles and aging spots on face. Thus, firm
will have the use of Advertising, sales promotion, public relation and direct marketing.
CONCLUSION
From the above report it can be concluded that marketing aids in growth and survival of
business unit. Implementing effective pricing, promotion strategies allow companies to gain
competitive advantage and create positive brand image in the mind of consumers. Companies are
required to prepare effective marketing plan so that it can meet the marketing objective and can
enhance demand for product and services. Promotions assist in creating unique image in the
mind of buyers and making them positive towards brand.
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