Marketing Plan for Forever Young Product

The assignment discusses the importance of marketing functions in business, focusing on the Forever Young product launched by Beauty Giant. It details the marketing mix, which includes product, place, price, and promotion, and outlines strategies for growth and expansion. The assignment also emphasizes the significance of developing effective marketing plans to achieve set goals and objectives.

Marketing
Essentials

INTRODUCTION
Marketing refers to study of management which deal with exchanges of products and
services with customers (Pike, 2015). Marketing is determine as a set of various activities that
provide aid company in creating or developing product, communicating its features to customers,
delivering product as well as exchanging offering by providing valuable products to customers.
Chosen company for this report is Beauty Giant that is a cosmetic selling organization located in
UK. This company has 50 branches spreads all over UK market area and it is providing cosmetic
products for both men and women. Beauty Giant is selling products of different famous brands
and it is not manufacturing its own products. This repost consist of different responsibility and
roles of marketing function that help modern organisation to grow its business and enhances
profitability. Marketing function are interrelated to other department of business and effective
marketing plan will help organisation to attain desired targets.
TASK 1
P1.
Marketing can be define as a set of activities which leads to developing, informing,
delivering products and services to customers. This function is very crucial for organisation and
achieving set goals or objectives. Roles and responsibility of marketing function is modern
organisation is integrated with requirement and demands of consumers and other departments of
business such as production, research and development, personnel, finance etc. Marketing
concepts are philosophies or ideas which help in analysing needs and wants of potential
customers and increment in profit of company. There are five concepts of marketing such as
production, product, sales, marketing and societal concepts. There are several marketing
responsibilities and roles which help organisation to grow and develop.
Marketing purpose is to create various marketing strategies and plan which help business
to grow and enhance its profitability. In order to attain desired targets or motives of company, it
is function of marketing to develop a strategic plan and strategies (Simkin and Dibb, 2013).
These strategies are related to developing an effective products as well a promoting it in market
area. Strategic planning will help in developing products and improving overall productivity of
organisations. By developing and implementing effective strategies company will be able to gain
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competitive advantage over other rival companies. Researching about market area in which
organization is providing its good and services is very important for an organisation.
It is responsibility of marketing function to conduct an effective market research to
analyse and evaluate market conditions. This will help in identifying requirement and demands
of consumers or market place. Market research will provide better understanding about
requirements of customers and developing or goods that leads to provide aid to full filling needs
or requirements of consumers. Role of marketing function is to implement a proper market
research to get knowledge about market place and target customers as well as their response
about products and services of company.
Marketing function of modern organisation is responsible for developing and designing
of products. Role and function of marketing is to develop a goods which helps in satisfying
demand and requirement of customers. Design of product play a major role in attracting and
influencing customers. Marketing function needs to design and develop an effective product
which attract consumers and full their requirements. It is responsibility of marketing function to
developing pricing strategies to attract customers towards organisation. Pricing strategy of
modern organisation based on several components such as cost involved in developing good as
well as pricing strategy of rival companies (Malhotr, Birks and Wills, 2013). Organisation has to
develop right and appropriate strategies because if a price of products is let low then it will
directly affect the profitability of company. If a price of products is set higher than competitors,
it can have huge impact on sales of product.
Promotion and distribution is one of the major role and responsibility of organisation.
Modern organisation needs to develop and implement creative and innovative promotional
strategies. It is responsibility of marketing function to use both traditional as well as Morden
marketing tools and techniques. Traditional methods include TV advertisements, sales
promotion, publicity, direct selling and modern methods are digital marketing, online sales,
social media marketing etc. Marketing function role is to deliver products which are
manufactured by organisation to end customers so that they can purchase and consume it. There
are various channels for distributing and delivering products to ultimate customers. Marketing
role and responsibility of marketing function to chose correct distribution channel so that
company will able to deliver products safely without any damage.
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P2.
Marketing roles and responsibilities are interrelated to other departments of company.
There are various departments in organisations which are responsible for carrying out different
functions. It is essential for this function to work closely with other departments of business. All
functions of marketing needs to be integrated with each and every departments of company
(Clow and James, 2013). Different departments of organisations are finance, human resources,
production, sales and so on. For smooth functioning of organisations, it is very essential that
marketing roles and responsibilities interlink with other functions of organisations.
Marketing roles and responsibilities are interrelated with finance department. It is
responsibility of marketing function to develop various strategies which help organisations to
increase its sales and enhance its profitability. Finance department is responsible for providing
budget for different departments of organisations. Marketing function cannot be carrying out
with any financial resources. In order to carry marketing function effectively and efficiently this
department needs budget. Marketing function is responsible for monitoring market environment
and identifying new trends and innovative techniques. This department will analysis innovative
and creative tools or techniques in market area that can be used by finance department. By using
new and creative strategies finance department can increase its effectiveness and perform better.
Marketing function needs to work closely with human resources department. This
department is responsible for finding and hiring right candidate for organisation. Marketing
department will communicate to human resource team about needs and requirement in candidate
to full fill vacant position in marketing department. Human resource department will conduct
various activities to recruit and select right candidate for marketing department. It is
responsibility of human research team to find highly qualified and skilled candidates who can
effective perform required task (Campbell, Martin and Fabos, 2018). Marketing department role
is to creative promoting vacant job and inform large number of candidates who are interested in
working in this organisation. This will help human resource department in selecting right skilled
and capable employees as per need and want of organisation.
Marketing department activities are interrelated with production department of
organisation. Marketing team is responsible for conducting marketing research. This research
will help in identifying and evaluating need and wants of customer. Production department of
organisation is responsible for manufacturing of product. Marketing department needs to
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communicate needs and requirement of customers as well as market area so that production
department can develop product will is help in satisfying requirements of customers. Marketing
department will have to evaluate and forecast about requirement of product in market and set
quality as well as quantify standards for production department. This will help organisation in
manufacturing product as per requirement of customers and accurate demand and supply of
product.
TASK 2
P3.
Marketing mix refers to strategic tool which help organisation is taking various decision
that help in improving sales and revenue of organization. Comparison between marketing mix of
Beauty Giant and the body shop is mentioned below.
Basis Beauty Giant The body shop
Product Product refers to anything
which company is selling in
order to gain profits. This
company is dealing in
toiletries products for both
men and women. Main
products of this company is
Forever young. This products
is an anti ageing product
developed to provide healthy
skin. It is selling various
products of different brands.
Products range of Beauty
Giant organisation includes
soaps, shampoos,
deodorants, eye liner, facial
tissues, moisturiser,
toothpaste body wash and so
on.
It is a British organization
that is performing in cosmetic
industry. This company is
developing thousands of skin
care, cosmetic and fragrance
products. It has diversified
product range which includes
products for all skin type.
Some product of this
company is ginger shampoo,
rainforest Radiance hair care,
Olive body scrub etc. In order
to provide natural and health
skin.
Price This is a value of money that
needs to be charged from
customer in exchange of
products offering. Prices of
Beauty Giant products are
very affordable. Pricing
strategy of this company is
based on cost involved in
purchasing products from
The body shop is using
competitive pricing strategy
in order to gain higher profits
from its rival company (Lane,
2016). Its prices are higher
than its competitor’s price. It
is providing quality products
and it is also a well known
brand so company has set
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manufactures and earning
some percentage of profits
over it. Prices of this
company is very affordable
to middle and upper-middle
class customers.
premium prices for its
products. Pricing strategies of
this company is to sell
products at premium prices in
order to gain competitive
advantage.
Place Beauty Giant is providing its
services in UK market area.
Place is area where company
is selling its products to end
customers (Purvis, 2015).
This company is offering
products to large numbers of
customers through its
different branches in UK
country. This company have
50 branches spared over UK
market place and it is
purchasing products from
different famous brands and
directly delivering it to
ultimate customers.
This company is providing its
services in many countries of
the world. It has spread its
products and services through
more than thousands of
outlets around the globe. It is
offering its products by its
own stores of through
franchises. It has very strong
distribution channel that
helps in bringing raw
material as well as delivering
products to ends customers.
Promotion This is important component
of organization that leads to
attract customers and
improve sales. There are
various methods used by
Beauty Giant to influence
customers and improve
profitability of organisation.
This organization is using
various techniques which
helps in promotion of goods
such as pamphlets, attractive
holding, online marketing,
social media marketing, sales
and other discount offers.
It is using several marketing
and promotional tools to
inform customers about
products as well as its
features. The body shop is
using both traditional as well
as modem methods for
promoting its products (Khan
and Adi, l2013). For
traditional method, company
is advertising its product in
fashion magazine whereas for
modem methods company is
more focusing on social
media advertising.
People People are essential part of
organisation. They are the
human capital of Beauty
Giant company. This
organisation is providing
training to its employees and
staff members so that they
can work more effective and
efficiently. Training will help
The body shop has highly
skilled and trained employees
who have knowledge about
market trends. Employees of
this company are specialised
in their work and they are
working with motivation and
enthusiasm to attain desired
and set targets of company.
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in improving their skill and
ability to complete required
task as well as enhance their
performance. Company is
training its employees which
help in developing strong
relationship between
organisation and its
employees.
Process Beauty Giant process
includes purchasing of
products from different
brands and selling it thought
their own company (Pike,
2016). It has only branches
where it is buying products
from various famous brands
and re selling it to satisfying
needs and wants of
customers.
Process of Body shop
company includes its
production and
manufacturing process. This
company is manufacturing
products which as completely
natural and does not harm
any skin type. It is using
more natural ingredients in
developing products which is
preferable for oily, normal
and dry skin. Process of this
company is based on
developing natural products
through innovative
techniques.
Physical evidence Physical evidence of Beauty
Giant includes its different
branches. These branches a
place where company is
selling products to
customers. Branches of this
organisation have very
relaxing and positive
environment as well as staff
members are very kind and
friendly towards their
customers. Ambience of
Beauty Giant company as
well as positive attitude of
staff members leads to build
strong relationship with
customers and increase sales
of company.
The Body shop is located in
many countries with its
highly maintained outlets.
These outlet help customer to
shop easily and
conformability with support
from their effective
employees. Stores and outlets
of Body shop are very
attractive and smartly
managed so that customer
can search their preferred
products without any
problem.
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From the above comparison it can be understood that elements of marketing mix can help
company to take various important decisions. Both of these companies are using marketing mix
in different way.
TASK 3
P4.
Marketing is a process which is related to goods and services offered by organisation in
order to creating strong relationship with customers (Muralidharan and Raval, 2017). It is very
important for Beauty Giant to develop an effective marketing plan so that company can attain its
set targets. Marketing plan is a strategic frame work that leads to successful completion of
process and achieve goals and objective. Marketing plan includes setting specific objective,
analysing situation, developing strategies, action plan, as well as evaluating and controlling task.
Objective
This is the first step in marketing plan as it leads to developing effective objective for
growth business. It is very important for organisation to develop smart objective which help is
setting objective that is specific and measurable. Objective set by organisation should be
achieved in within set time period. Beauty Giant is planning to launch its new anti ageing
products called ‘Forever Young’. Objective of Beauty Giant is:
 To launch new Forever young products within six months with motive of improving
profitably 30%.
Situation analysis
It is very important for Beauty Giant to analyse situation so that company can achieve set goals
and objective (Brennan and et.al, 2014). In order to analyse situation company needs to evaluate
its internal and external environment of business. Beauty Giant needs to conduct SWOT analyse
so that company can identify its strength and weakness as well as different opportunity and threat
in market environment. Strength: Beauty Giant is well developed and known organisation in UK market area. It
is advantage for new Forever Young product as strong image of business will leads to
increase in sales of new launched products. This products is made up with all natural
ingredients that helps in providing healthy skin to customers. Weakness: This company is only dealing in UK market area as well as its competitors are
providing their products and services in all around the world. It is a weakness of Beauty
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Giant that is it covering small market area as well as offering its products and services in
UK area only. This company is not developing its own product and this is a weakness
because its business is based on other products. Opportunity: There are various opportunity for Beauty Giant company in market area
such as company can develop various growth strategies for business. Company can offer
its products and service to different countries and expand its market share. It is
opportunity for organisation to effective and efficiently promotes its products in order to
increase profitability of organisation. Company can use effective technology in its
working process and improve its profits. It also have opportunity to train its staff so that
they can perform better and achieve set goals.
 Threat: Beauty Giant company have threat from other rival companies such as M.A.C,
L'oreal, The body shop and so on who are providing their products is different parts of
world. These company deals in a cosmetic industry and it have to face strong completion
(Hashim and Hamzah, 2014). Strong brand image as well as effective strategies of rival
company is the biggest threat to company and its new launch product.
Strategy
After analysing situation Beauty Giant company needs to develop various strategies that help
in achieve set goals and objective. These strategies will provide a proper framework so that
company can targets right and potential customers. Segmentation: This is a process of dividing large market area into small parts.
Segmentation of large number of customers into different parts on the bases of
geographical, behavioural, demographic and psychographic needs will help company to
select right and potential customers. Beauty Giant is segmenting its customers for new
launch product on the bases of needs and demand. Targeting: It refers to selecting and choosing right candidates who are interest in
purchasing products. Beauty Giant is targeting on women of UK market area who are of
age 30 in orders to solve their skin ageing problems by providing anti ageing product.
Targeting will help in selecting potential customer segment
 Positioning: Positioning is a process of promoting products and creating positive brand
image in customer’s minds (Desai, 2013). Company can build psotive image by
marketing it as organic products which is made up of completely natural ingredients.
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Beauty Giant is positioning its product in customers mind as a natural product that helps
in solving ageing problems as well as providing healthy and clear skin. Beauty Giant is
using both online and offline methods of promoting Forever Young products in
marketing area.
Action plan
In this step company needs to put strategies into actual action plan. There are several
elements of marketing mix which can be control by organisation as well as developing effective
strategies for growth of business. Product: Beauty Giant is launching its new Forever Young product which is a anti ageing
product. It is developed with all natural ingredients that is suitable for all skin types. Place: Company is planning to launch this new product in UK market area. Beauty Giant
is offering this product through its different branches spreads all over UK. Price: Prices of Forever young product is very affordable for all customers. Pricing
strategy of this product is based on manufacturing cost of new product. Beauty Giant
pricing strategies is moderate pricing of its new product.
 Promotion: Beauty Giant company is using traditional as well as modern methods for
promoting its new launched product. Different methods of promotion include
advertisement, social media and so on.
Financial plan
Marketing Budget:
MARKETING BUDGET
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 4000 8000 12600 12860 19640
Investment 12000 12500 24840 32900 15480
TOTAL 16000 20500 36440 45760 35120
MARKETING OUTLAY
Promotion 5400 1850 5500 3500 3000
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Sales publicity 3000 2500 3600 2000 2000
Direct selling 3500 2600 5000 2500 5600
TOTAL 11900 6950 14100 8000 10600
Evaluate and control
This is the last step of marketing plan and it is very important for company to evaluate
and control all activities conducted by organisation. This will help in determining whether set
goals and objective is achieved or not (Cabrera and Williams, 2014). There are different methods
which can be used by Beauty Giant to evaluate and control performance of new launched
products. Various methods include taking feedback from customers and setting target sales
CONCLUSION
From the above assignment it can be that marketing function of business is essential as it
deals with promoting and selling of products. Marketing is a study of management that leads to
increasing sales of business as well as enhance its profitability. Marketing mix helps organisation
to take various important decisions and strategies. These strategic decisions lead to gain
competitive advantage from other rival companies. Apart from this, developing effective
marketing plan is very important for organisation to achieve set goals and objective.
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