Marketing Essentials Assignment PDF : Beauty Giant

Added on - 21 Feb 2021

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MarketingEssentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1...........................................................................................................................................1Definition and concept of marketing..........................................................................................1Role and responsibilities of marketing department.....................................................................1Relation and support of marketing department with departments in an organisation................3TASK 2..........................................................................................................................................4Marketing Mix............................................................................................................................4Marketing plan...........................................................................................................................7CONCLUSION............................................................................................................................11REFERENCES............................................................................................................................12
INTRODUCTIONIn today's dynamic and continuously changing world marketing is considered as mostvital as well as most critical technique to run a business successfully. Marketing are basically theaction of an organisation conducted to increase or promote the sales of product or for improvingbrand image. Marketing plays a very important role in fulfilment and timely achievement oforganisational goal and objective (Akbar and et. al., 2017). In this report marketing applicationand essentials of Beauty Giant are explained to get a better understanding of marketing in amodern era. Beauty giant is a cosmetic retailer in UK, selling its beauty product in more than 50branches expanded in all over UK. This report includes the marketing strategy of beauty giantand role of marketing and how it relate with other functions for better fulfilment oforganisational goal. It also explains the use of marketing mix(7p's) model and all importantelements 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 1Definition and concept of marketingMarketing is an organisational function and process to create, communicate and delivervaluable information for crating and managing good relationships with customer that benefitsorganisation and stakeholders in whole. It focuses on customer, while same time aligning link toother processes to increase profits and brand image(Arendt and Allain, 2019). It is adaptivemethodology that connects company with customer and promotes results by proper strategymaking and analysis of current market scenario.Role and responsibilities of marketing departmentMarketing is essential for all organisation, not only to promote its product but also tocreate a good image of overall company. In today's modern world marketing is not only relatedwith selling a stuff but includes many more functions to maximize the benefits by grabbing newopportunists exists in the market. Some of these important role and functions of market are asfollows:Marketing Strategy Planning:It is continues approaches and efforts revolves aroundhow to achieve goals or objectives while remained align to business objectives. Developing plansand strategy for dynamic environment like today is most challenging it has ever been. It creates1
actions for marketers to work dependently, with each other and for business objectives. BeautyGiant will make strategy to use different interactive platforms or channels that targets customerson personal basis. Through this they can have direct and powerful impact on potential customersto capture market share of cosmetics in UK.Market research: It is systematic process of data collection and analysis aboutcustomers 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 identifyingopportunities and threats, provides complete information about factors affecting marketingstrategies(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 cosmeticsmarket in UK and have sustainable advantage over it.Internal or external product development:With the help of research all informationgathered will be use to develop product for market, adding product in line or adding new value inexisting product. It can create new opportunity, growth, increase productivity, profitability andenhancement in satisfactory level of customer. In this stage proper execution of strategies is veryimportant because it will determine success or failure of product. Beauty Giant is coming up withnew product in cosmetic market in UK as Anti-ageing cream for 30+ population. Cream somanufacture will undertake all aspects of customer needs or wants and will tested beforeintroducing in market to avoid negative feedback or failure of product.Promotional activities: It refers to set of all activities that communicate, attract andinduce to buy their product or services over others brand to audience. It helps business inincrease sales, brand awareness, capture market share and build relationships. Not everypromotion activity can lead in positive results, therefore it is necessary to choose appropriateactivities to achieve goals of organisation (Dioko, 2016). Beauty Giant needs to understand allelements 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 helpfulin communicating product in modern scenario to gain market share, brand awareness for newproduct.2
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