Marketing Essentials of Beauty Giant: Assignment

Added on - 21 Feb 2021

  • 13

    Pages

  • 3870

    Words

  • 7

    Views

  • 0

    Downloads

Trusted by +2 million users,
assist thousands of students everyday
Showing pages 1 to 4 of 13 pages
MarketingEssentials
INTRODUCTIONMarketing refers to study of management which deal with exchanges of products andservices with customers (Pike,2015). Marketingis determineas a set of various activitiesthatprovideaidcompany 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 isBeauty Giantthat isa cosmetic sellingorganizationlocated 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 consistof different responsibility androles of marketingfunctionthathelp modern organisation to grow its business and enhancesprofitability. Marketing function are interrelated to other department of business and effectivemarketing plan will help organisationto 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 functionis verycrucialfororganisation andachieving set goals or objectives. Roles and responsibility of marketing function is modernorganisation is integrated withrequirement and demands of consumers andother 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 roleswhich help organisation to grow and develop.Marketing purposeis tocreatevarious marketing strategies and plan which help businessto grow and enhance its profitability. In order toattain desired targets or motivesof 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
competitive advantage over other rival companies. Researching about marketarea in whichorganization is providing its good and servicesis very important for an organisation.It is responsibility of marketing function to conduct an effective market researchtoanalyse and evaluate market conditions. This will help in identifyingrequirement and demandsof consumers ormarket place. Market research will provide better understanding aboutrequirements of customers and developingor goods that leads to provide aid to full filling needsor requirements ofconsumers. Role of marketing function is toimplementa 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 isto develop agoodswhich helps in satisfyingdemand and requirement ofcustomers. Design of product play a major role in attracting andinfluencing customers. Marketing function needs to design and develop an effective productwhich attractconsumers and full their requirements. It is responsibility of marketing function todeveloping pricing strategies to attract customers towards organisation. Pricing strategy ofmodern organisationbased on several components such as costinvolved in developinggoodaswell 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.Marketingroleand responsibility of marketing function to chosecorrectdistribution channel so thatcompany will able to deliver products safely without any damage.2
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Download This Document