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Marketing Essentials of Beauty Giant: Assignment

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Added on  2021-02-22

Marketing Essentials of Beauty Giant: Assignment

   Added on 2021-02-22

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MarketingEssentials
Marketing Essentials of Beauty Giant: Assignment_1
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INTRODUCTIONMarketing refers to study of management which deal with exchanges of products andservices with customers (Pike, 2015). Marketing is determine as a set of various activities thatprovideaid 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 inUK. This company has 50 branches spreads all over UK market area and it is providing cosmeticproducts for both men and women. Beauty Giant is selling products of different famous brandsand it is not manufacturing its own products. This repost consist of different responsibility androles of marketing function that help modern organisation to grow its business and enhancesprofitability. Marketing function are interrelated to other department of business and effectivemarketing plan will help organisation to attain desired targets. TASK 1P1.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 andachieving set goals or objectives. Roles and responsibility of marketing function is modernorganisation is integrated with requirement and demands of consumers and other departments ofbusiness such as production, research and development, personnel, finance etc. Marketingconcepts are philosophies or ideas which help in analysing needs and wants of potentialcustomers and increment in profit of company. There are five concepts of marketing such asproduction, product, sales, marketing and societal concepts.There are several marketingresponsibilities and roles which help organisation to grow and develop. Marketing purpose is to create various marketing strategies and plan which help businessto grow and enhance its profitability. In order to attain desired targets or motives of company, itis function of marketing to develop a strategic plan and strategies (Simkinand Dibb, 2013).These strategies are related to developing an effective products as well a promoting it in marketarea. Strategic planning will help in developing products and improving overall productivity oforganisations. By developing and implementing effective strategies company will be able to gain1
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competitive advantage over other rival companies. Researching about market area in whichorganization is providing its good and services is very important for an organisation.It is responsibility of marketing function to conduct an effective market research toanalyse and evaluate market conditions. This will help in identifying requirement and demandsof consumers or market place. Market research will provide better understanding aboutrequirements of customers and developing or goods that leads to provide aid to full filling needsor requirements of consumers. Role of marketing function is to implement a proper marketresearch to get knowledge about market place and target customers as well as their responseabout products and services of company. Marketing function of modern organisation is responsible for developing and designingof products. Role and function of marketing is to develop a goods which helps in satisfyingdemand and requirement of customers. Design of product play a major role in attracting andinfluencing customers. Marketing function needs to design and develop an effective productwhich attract consumers and full their requirements. It is responsibility of marketing function todeveloping pricing strategies to attract customers towards organisation. Pricing strategy ofmodern organisation based on several components such as cost involved in developing good aswell as pricing strategy of rival companies (Malhotr, Birksand Wills, 2013). Organisation has todevelop right and appropriate strategies because if a price of products is let low then it willdirectly 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 promotionalstrategies. It is responsibility of marketing function to use both traditional as well as Mordenmarketing tools and techniques. Traditional methods include TV advertisements, salespromotion, publicity, direct selling and modern methods are digital marketing, online sales,social media marketing etc. Marketing function role is to deliver products which aremanufactured by organisation to end customers so that they can purchase and consume it. Thereare various channels for distributing and delivering products to ultimate customers. Marketingrole and responsibility of marketing function to chose correct distribution channel so thatcompany will able to deliver products safely without any damage. 2
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