Marketing Essentials Assignment PDF : Beauty Giant

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Marketing
Essentials

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Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Definition and concept of marketing ..........................................................................................1
Role and responsibilities of marketing department.....................................................................1
Relation and support of marketing department with departments in an organisation................3
TASK 2 ..........................................................................................................................................4
Marketing Mix............................................................................................................................4
Marketing plan...........................................................................................................................7
CONCLUSION ............................................................................................................................11
REFERENCES ............................................................................................................................12
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INTRODUCTION
In today's dynamic and continuously changing world marketing is considered as most
vital as well as most critical technique to run a business successfully. Marketing are basically the
action of an organisation conducted to increase or promote the sales of product or for improving
brand image. Marketing plays a very important role in fulfilment and timely achievement of
organisational goal and objective (Akbar and et. al., 2017). In this report marketing application
and essentials of Beauty Giant are explained to get a better understanding of marketing in a
modern era. Beauty giant is a cosmetic retailer in UK, selling its beauty product in more than 50
branches expanded in all over UK. This report includes the marketing strategy of beauty giant
and role of marketing and how it relate with other functions for better fulfilment of
organisational goal. It also explains the use of marketing mix(7p's) model and all important
elements of market plan to achieve the goals and objective of organisation in best possible way.
This also provide a analysis and evaluation of market plan.
TASK 1
Definition and concept of marketing
Marketing is an organisational function and process to create, communicate and deliver
valuable information for crating and managing good relationships with customer that benefits
organisation and stakeholders in whole. It focuses on customer, while same time aligning link to
other processes to increase profits and brand image(Arendt and Allain, 2019). It is adaptive
methodology that connects company with customer and promotes results by proper strategy
making and analysis of current market scenario.
Role and responsibilities of marketing department
Marketing is essential for all organisation, not only to promote its product but also to
create a good image of overall company. In today's modern world marketing is not only related
with selling a stuff but includes many more functions to maximize the benefits by grabbing new
opportunists exists in the market. Some of these important role and functions of market are as
follows:
Marketing Strategy Planning: It is continues approaches and efforts revolves around
how to achieve goals or objectives while remained align to business objectives. Developing plans
and strategy for dynamic environment like today is most challenging it has ever been. It creates
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actions for marketers to work dependently, with each other and for business objectives. Beauty
Giant will make strategy to use different interactive platforms or channels that targets customers
on personal basis. Through this they can have direct and powerful impact on potential customers
to capture market share of cosmetics in UK.
Market research: It is systematic process of data collection and analysis about
customers and market competition which is use to design strategies. It supports planning,
decision making and budgeting for new or existing product or services. It helps in identifying
opportunities and threats, provides complete information about factors affecting marketing
strategies(Brychkov and Domegan, 2017). It is important for Beauty Giant to understand needs,
wants and demands of customer so that it can offer satisfying product, build relationships, long-
term customer loyalty. It can help brand in determining level of competition within cosmetics
market in UK and have sustainable advantage over it.
Internal or external product development: With the help of research all information
gathered will be use to develop product for market, adding product in line or adding new value in
existing product. It can create new opportunity, growth, increase productivity, profitability and
enhancement in satisfactory level of customer. In this stage proper execution of strategies is very
important because it will determine success or failure of product. Beauty Giant is coming up with
new product in cosmetic market in UK as Anti-ageing cream for 30+ population. Cream so
manufacture will undertake all aspects of customer needs or wants and will tested before
introducing in market to avoid negative feedback or failure of product.
Promotional activities: It refers to set of all activities that communicate, attract and
induce to buy their product or services over others brand to audience. It helps business in
increase sales, brand awareness, capture market share and build relationships. Not every
promotion activity can lead in positive results, therefore it is necessary to choose appropriate
activities to achieve goals of organisation (Dioko, 2016). Beauty Giant needs to understand all
elements of their marketing mix to develop successful promotional campaign for product.
Modern techniques like social media, email, internet Ads and all traditional tools will be helpful
in communicating product in modern scenario to gain market share, brand awareness for new
product.
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Relation and support of marketing department with departments in an organisation
Marketing is not only related with promotion or advertising of a product, there are many
more functions performed by marketing department. Marketing process includes all those action
which are necessary to attract a potential customer and to inspire theses potential customers to
buy the product. Marketing department also need to establish a good relationship with customer
to maintain current consumer and also to reach and attract new customers. This helps in
increasing sales volume and profitability. But marketing alone is not sufficient in fulfilling needs
and desire of customer. This require a proper interconnection and co ordination of all
departments of organisation. Interconnectivity and support of marketing with other departments
for Beauty Giant can be understood as below:
Operation and marketing department
Operation department is related with manufacturing or production process(including
packaging) and distribution process (Duffett, 2017). Thus quality of product depends on this
department. Marketing department is the one which remains in direct contact of customers and
thus well aware about the needs and preference of customer. Therefore a good communication
between both the department is necessary to get a quality product in accordance with customer
need and desire. Like in Beauty giant, marketing department analysis the desire of customer and
operation department manufactures product best suited to fulfil this desire and try to cater or
attract more customer.
Marketing and finance department
It is the responsibility of finance department to fulfil the need of finance or money for all
departments of organisation. They prepare timely budgets, clearly showing the sources of income
and areas of expenditures(Gillespie and Riddle, 2015). It is the responsibility of finance
department to provide adequate funds to marketing department to properly conduct its functions.
In Beauty giant, finance department must provide sufficient amount of money to marketing
department for better promotion and advertisement of product, to increase its sales and overall
profitability of company.
Marketing and R & D department
Main aim of R&D department is to conduct timely research and develop new, innovative
product to fulfil the needs of customer. It is the responsibility of marketing department to
properly analysis and understand the latest trend of market and provide this information to R&D
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Department. On the basis of information provided by marketing department after market
research is used by R&D department to develop a new product best suited for the customers. The
new product should not be harmful for customers and provide them maximum level of
satisfaction. R&D can also suggest new marketing strategy to face the competition easily. Like in
Beauty Giant, R&D conduct timely research and always try to get the best strategies and product
for the company as per the demand of customers.
The main significance of internation and proper communication between different is that
it reduces the chances of confusion and makes it easy to achieve organisational goal and
objective on time (Griffitts, 2016). Proper connection and communication between all
departments of Beauty Giant helps it in achieving a good position in market and also helps in
increasing its market share and volume of sale. Thus maximizing the level of profitability and
future growth.
TASK 2
Marketing Mix
Marketing mix is a tool used by an organisation to put right product, at right place and
time, with proper price. It is a technique used by a company to promote its brand or product to
attract more customer by providing best product with most reasonable price (The Marketing Mix
4P’s and 7P’s Explained, 2019). This include combination of 7P'S which can be easily
controlled by an organisation to achieve its desire objectives. The 7P's of marketing mix are as
follows: Product, Price, Promotion, People, Physical evidence and Process(Groucutt and
Hopkins, 2015). To make a better understanding of marketing mix, here, marketing mix of
Beauty Giant and Look Fantastic is discussed. Beauty Giant is a cosmetic retailer company of
UK having its branch all around the UK. Here a comparison of its marketing mix is provide to
understand its use and effectiveness for the concerned organisation.
Marketing Mix Description Beauty giant Look Fantastic
Product It refers to item actually sold by
company or the product in
which company is dealing. For
success of any company it is
necessary to provide a quality
At present it is
providing a wide range
of cosmetic product to
both men and women.
Products are available
Look fantastic is
dealing in limited
products and its
target customers
are also low as
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product best suited with
demand and needs of customer.
It is the quality of product that
makes it better than other
competitors and leave a long
lasting impact on minds of
customer. Provide them the
desire level of satisfaction and
brings them back for purchasing
the product (Hugos, 2018)
in different size making
it convenient to buy by
all kinds of customer.
Variety of products
include eyes shadows,
foundations and various
types of cream and
other cosmetic items.
compared to
Beauty giant.
Place It refers to the place from where
sales actually made i.e. point of
sale. Every organisation aim at
providing a good distribution
system to make it easy to buy a
product for its customer. Every
organisation is having two
option to increase its sales,
either to open large number of
branches at different location
or to go with online stores, Both
having their own merits and
demerits.
Right now, Beauty
Giant is having more
than 50 branches and
stores easily available at
different location in
UK. Thus it is easily in
reach of customers of
UK. But Beauty Giant
can also plan for
providing online
services as it make it
more easy for customers
and people from outside
the UK can also
purchase its
product(Lane, 2016,)
Look fantastic
mostly deals as an
online store
making it more
convenient for
customers to buy,
but it also restrict
the amount sale
and customers as
all are not
interested in doing
online shopping.
Price It is basically the price of
product charged from
customers. Price is decided after
proper analysis cost of
Target market of Beauty
Giant is mainly middle
class people and they
want to increase their
Look Fantastic is
charging high
prices from its
customer because
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production and other expenses
made. It is all so affected by the
target market and ability of
customers to pay. If a
organisation wants to increase
its market share, they fix low
prices, but if objective is
maximization of profit, then
they charge high prices for the
product.
market share and
number of customers.
Thus, they are charging
low or reasonable price
from their customers.
This helps in increasing
quantum of sales and
ultimately provide mire
profits.
its main focus is
only on high
profits and not on
increasing its
market share.
Promotion It includes all activities
conducted to make a product
known to its customer. This
process includes highlighting
the qualities of product to
attract more customers.
Promotion strategy may
includes advertising through
social media, print media,
personal attention through sales
men, etc.
Beauty Giant is using a
proper promotional
strategy for the products
in which it is dealing. It
provide timely
information about its
product through
aggressive advertising
and making use of its
logo at different
hoardings to attract
more customer.
Look Fantastic is
operating online,
so make more use
of online
advertising and
websites for its
promotion(Grouc
utt and Hopkins,
2015)
Physical
evidence
It is something that helps in
product differentiation, that
how a product is different and
superior than competitors
product. It makes a product or
service more tangible and
measurable. It includes
providing proper packaging,
Products of Beauty
Giant provide proper
physical evidence in
form a written
description on
packaging of product.
They make their
presence fell in the
Look Fantastic is
working online
and hence having
a little use of
physical evidence.
The description of
products are also
available online
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records, and services after sales. market through proper
packaging and using
attractive strategies.
on its website.
People This head includes the people
of organisation. It includes all
staff, employees and managers
working for the betterment of
organisation. It is one of most
important factor for success of
organisation as they establish
the relation with customer.
Better customer bonding means
more success(Hugos, 2018)
Staff and employee of
Beauty Giant are aim at
providing best customer
services to their
consumers. There
people always try to
provide maximum
customer satisfaction
and strategies also
based on this
It is a online
brand hence it is
the responsibility
of its people to
make best policies
to approach
maximum number
of employees.
Process This mainly includes all type of
process going on in an
organisation, like
manufacturing process,
distribution process, etc. but
main focus of this is on
distribution, that how a product
reach to its customer in most
efficient and effective way.
Right now, customers
of Beauty Giant has to
go to store for
purchasing the product
I.e. no facility of home
delivery is offered. To
cater more customer
and make it more
convenient they can
start the facility of
home deliver
It is a online
website and thus
offering home
delivery of
products making
it more easier and
convenient for
customer to get
the product.
From above discussion, significance of marketing mix in achieving organisation goals
and objective can be easily understood. Beauty Giant is timely conduct and analysis different
factors of marketing mix to reach its target on time and to remain ahead of its competitors.
Marketing mix provide a complete strategy about price, place , product, etc. to increase the
market share and sales volume which ultimately provides more profit(Lane, 2016).
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Marketing plan
It is basically a report which provide detailed description of marketing strategy of a
company for better performance in upcoming or future time. It main aim is to achieve the targets
and objective of an organisation in most effective and efficient way. An effective market plan
includes proper information about target market, potential customers, promotional strategies and
other important models and policies. It also includes a analysis of strategies followed by
competitors(Larson and Draper, 2015). The different approaches and models use by an company
to develop an conducting effective market plan are marketing mix, SWOT analysis and STP
model.
Overview
Beauty Giant is a famous cosmetic retailer of UK, operating more than 50 branches or
stores at different locations of UK. It is providing a large variety of cosmetic products for all
kind of customers but focusing a little more on demands of women. They are having a good
name as a retailer but not producing any product of their own so far. Therefore to increase its
scope of its growth and profitability, they are launching a new anti ageing product
“FOREEVER YOUNG”.
Mission
The mission of Beauty Giant is, “To provide the best quality product to increase its
market share and profitability.” Beauty giant wants to remain ahead of its competitors like
Look fantastic, therefore focusing more on its product quality and wants to attract more and more
customers for its product to ensure future growth and success(Muller, 2019). They are also trying
to become UK's best retailer and manufacturer company dealing in the field of cosmetic.
Vision
the vision of Beauty Giant is, “To earn fame and goodwill for organisation as a
retailer as well as a manufacturer”. They are having a good image in UK as a well known
retailer but know they are also starting manufacturing of products. Thus it is their new target to
get a good name and fame in this field also. This can be only possible by providing a good
quality product which give maximum satisfaction to their customers.
Objectives
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Objective are the main goals and targets every company wants to achieve. Beauty Giant
are putting all possible efforts to increase its market share and to earn goodwill by providing
maximum customer satisfaction. The main objectives of Beauty giant are as follows:
1. To launch its new anti – ageing product successfully, which will lead to increase in its
sales by more than 25% in coming 1 year.
2. To attract more customers for its product, which will increases their profitability by 15%
in coming years.
STP model
It is one of the most basis model used by a company to understand and study the curent
market situations(Pappas, 2017). It provide a link between overall market and how company
target that market to achieve its objectives. It provide a guide to oragnisation in developing and
implementing an appropriate strategy for marketing of an product. STP model includes
Segmentation
Market segmentation is a process of dividing market into small group, having similar
characteristics and needs. This help in deciding the most suitable target market for the product
according to the needs and demands of market. Beauty Giant is basically divides its market on
basis of different age group, and genders.
Targetting
Targetting is basically proactive selection of a market or type of customer by an
organisation on the basis of its product. Every organisation select a most suitable target market
and customers, with an intension of focusing more on the needs and wants of this group to
increase the sales of product. Beauty giant is focusing more on needs and demand of women.
The new product launched by Beauty Giant is mainly targeting customers having their age
above 30 years.
Positioning
It refers to image of a product in the minds of customers(Piñeiro-Otero and Martínez-
Rolán, 2016). Every organisation aim at crating a good brand image for its product through
aggressive advertising and promotional activities. Beauty Giant is having a good image in minds
of customers, They have gained the trust of customers and therefore having a good amount of
sales and profits.
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SWOT analysis
This is a tool used to find out the existing opportunities and threats prevailing in the
market. It helps in early detection of opportunity which an organisation can grab to get better
results in form of more sales and profits. It provides a clear informations about the strengths and
weakness of an organisation and also provide estimation about competitors strengths and
weakness(Springer, 2017). The SWOT analysis of Beauty Giant is explained below:
Strengths Weaknesses
These represents the benefits and positive
aspects an organisation have which separates it
from its competitors. Beauty Giant is having a
good image in the market of UK, which is
considered as its strengths(Wilson , 2018.)
Theses are the aspects which hinders the
performance of an organisation and does not
lead it to reach optimum level. The weakness
of Beauty Giant was that it is not
manufacturing any product by its own but now
they are overcoming its weakness by starting
manufacturing also.
Opportunities Threats
These are the favourable external factors that
can be used by an organisation to achieve its
target. As its image is good in market it can
easily launch a new product and bring more
innovative idea to attract more customers
These are the external factors that can harm the
business of an organisation. The main threat
Beauty Giant is the high level of competition
prevailing in cosmetic market.
Marketing Budget:
MARKETING BUDGET (£)
PARTICULARS Ist Year IInd Year IIIrd Year IVth Year Vth Year
Initial money 6000 7400 15100 17260 16870
Investment 11400 12600 23840 31640 17560
TOTAL 17400 20000 38940 48900 34430
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MARKETING OUTLAY
Promotion 6000 3000 4500 4000 3000
Sales publicity 3000 900 3500 2500 1500
Direct selling 3000 2500 5000 2100 5500
TOTAL 12000 6400 13000 8600 10000
Controlling and monitoring
Controlling and monitoring is also a necessary part of a market plan. Making a market
plan is not sufficient it is also necessary to timely check and monitor whether things are going as
per the plan or not(Akbar and et. al., 2017). Timely analysis of marketing plan makes it easier to
detect any deficiency and to make sufficient changes as required to reach or achieve the gaols in
time. Beauty Giant is timely doing controlling and monitoring of its market plan to check
whether activities are performed properly in accordance with that or not. If there is any
deficiency or problem they make appropriate changes to achieve its targets and objective on time
and in most effective way (Arendt and Allain, 2019).
CONCLUSION
From this report, importance of marketing in a highly dynamic and changing
environment can be easily understood. Conclusion can be made that marketing is not only related
with selling a product but it also deals with other function. This also explains the role of co
ordination of different departments to achieve the targets and goals. This project also discuss the
market plan and marketing mix and their importance in achieving the objective. This also focus
on the new product launched by Beauty Giant.
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REFERENCES
Books and Journal
Akbar, F., and et. al., 2017. Niche marketing strategy framework for SMEs: A conceptual
framework.
Arendt, M. and Allain, A., 2019. Annelies Allain: Pioneer of the International Code of
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future. Journal of Social Marketing. 7(1). pp.74-93.
Dioko, L.D.A., 2016. Progress and trends in destination branding and marketing–a brief and
broad review. International Journal of Culture, Tourism and Hospitality Research.
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Duffett, R.G., 2017. Influence of social media marketing communications on young consumers’
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Hugos, M.H., 2018. Essentials of supply chain management. John Wiley & Sons.
Lane, P., 2016. Human resources marketing and recruiting: essentials of employer branding.
Handbook of Human Resources Management. pp.23-52.
Larson, J. and Draper, S., 2015. Internet marketing essentials. Idaho Falls, ID: Stukent
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Muller, M., 2019. Essentials of inventory management. HarperCollins Leadership.
Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice,
price, quality and consumer trust on online tourism purchasing. Journal of Marketing
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Piñeiro-Otero, T. and Martínez-Rolán, X., 2016. Understanding Digital Marketing—Basics and
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Wilson, E.J., McCabe, C. and Smith, R.S., 2018. Curriculum innovation for marketing analytics.
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Online
The Marketing Mix 4P’s and 7P’s Explained. 2019. [Online] Available Through:
<https://marketingmix.co.uk/>
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