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Marketing Essentials Assignment - Beauty Giant company

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Added on  2020-11-12

Marketing Essentials Assignment - Beauty Giant company

   Added on 2020-11-12

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MARKETINGESSENTIALS
Marketing Essentials Assignment - Beauty Giant company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Definition of Marketing..........................................................................................................1Marketing Concept.................................................................................................................1Roles and responsibilities of the marketing function.............................................................3Interrelationships of marketing department with other functional units................................4TASK 2............................................................................................................................................6Application of marketing mix to the marketing planning process.........................................6Marketing Plan for Forever Young........................................................................................9CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................13
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INTRODUCTIONMarketing refers to the art of effectively persuading customers to buy offerings of anorganisation. It is very essential for modern organisations to use effective marketing tools andtechniques to improve their sales figure. The modern marketers must possess or adapt necessaryskills in order to enhance the acceptance and improve sustainability of their products andservices (Pike, 2015). Without marketing, companies will not be able to sell their commodities tocustomers who are aware and have dynamic demands. The report below is based on BeautyGiant, a cosmetics firm with around 50 branches all over in UK. The report shows an essay onthe role of marketing in modern organisations, along with different use of marketing mix invarious companies to achieve their business goals. It also covers creation and evaluation of amarketing plan for Beauty Giant's new product to attract and retain its customers in the UKmarket (Dibb and Simkin, 2013).TASK 1Definition of MarketingMarketing is a function undertaken by almost every organisation to promote its offeringsand sell them after effective market research. This function also includes presenting the productsand the services to the target audience by advertisements.Marketing ConceptIt is crucial for modern day organisations to develop effective strategies to achieve profitmaximisation and eliminate competition. Marketing concept is one such strategy through whichfirms evaluate customer needs and take effective decision for their satisfaction. The agenda ofthe firm applying marketing concept is to satisfy customers better than its rival firms. There arefive marketing concepts that firms take into consideration. These are as follows:Production Concept: One of the oldest marketing concepts, it focuses on commoditiesthat could most efficiently be produced by the company. The idea was to developproducts at very low cost that could itself create a demand in the market. This conceptwas a success at the time when firms created offerings of basic necessities (Baker andMagnini, 2016). However, in the current scenario, firms adopting this concept are riskingtheir operations by emphasizing on its own activities rather than the actual objectives.Product Concept: The idea that is supported by this concept is that only those offeringsthat would possess utmost innovative features, high quality and maximum performance1
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would be preferred by the customers. Marketing strategies of companies adopting theseconcepts emphasize on continuous improvement in their products (Griffitts, 2016). Selling Concept: This concept takes the selling part into consideration and supports theidea of aggressive promotion and large-scale selling to sell the products offered by thecompany. More emphasis is given upon creation of sales transactions rather thancustomer relationships. The aim is to sell the offerings regardless of market needs. Marketing Concept: The most widely used concept in modern marketing methods ismarketing concept. This concept emphasize on dynamic market needs rather than hardselling. With rise in customer awareness and discrete income, the buyers have becomeselective in whatever they purchase. Thus, this concept encourages the companies todevelop offerings that satisfy the market needs (Chernev, 2018). Societal Marketing Concept: The adoption of this concept has risen with rise incorporate social responsibilities. It supports the agenda of developing those strategies thathelp the customers to get the products at the most adequate value that raises the wellbeing of customers as well as of society (Walliman, 2015).Beauty Giant uses marketing as well as societal marketing concept to effectively markettheir offerings in the UK market.2
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