Roles and Responsibilities of Marketing Function in Beauty Giant
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This article discusses the key roles and responsibilities of the marketing function in Beauty Giant, a cosmetic company. It covers market research, marketing planning, product management, pricing, standardization, promotion, financing, selling, and customer services. It also explores the relationship between marketing and other departments such as production, finance, human resources, and information technology.
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Marketing Esentials Business
Contents
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................4
Key roles and responsibilities of marketing function......................................................................4
LO2..................................................................................................................................................9
Comparison of marketing mix between Beauty Giant and L 'Oreal...........................................9
LO3................................................................................................................................................12
Marketing plan for beauty Giant...............................................................................................12
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18
16814 Page 1 of 20
Contents
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................4
Key roles and responsibilities of marketing function......................................................................4
LO2..................................................................................................................................................9
Comparison of marketing mix between Beauty Giant and L 'Oreal...........................................9
LO3................................................................................................................................................12
Marketing plan for beauty Giant...............................................................................................12
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18
16814 Page 1 of 20
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Marketing Esentials Business
16814 Page 2 of 20
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Marketing Esentials Business
INTRODUCTION
Marketing is the activity that helps business in promoting brand and attracting consumers
towards the firm. Present study is based on Beauty Giant, Beauty Giant is spread over about 50
branches in UK (Akbar and et.al., 2017). They are not the producer of the product of their own.
The company has launched its own product known as Forever Green which targets the audiences
of the age over 30. Supply chain system of Beauty giant is very smooth. Its inbound logistic
activities ensures proper scheduling of production and subcontracting. Inbound team ensures
managing raw material in warehouse in proper manner. International logistics tam of the
company manage procurement flow management so that balance can be made between input and
output. Loreal, Unilever are the major competitors of Beauty Giant. Current report will highlight
interlink between marketing and the other department such as Product department, finance
department, Information Technology Department, Human Resource Department. Furthermore,
study will explain responsibility of marketing function in business unit. It will compare
marketing mix of the firm with its competitors. At last marketing plan will be produced to raise
sales of forever young product of Beauty Giant. Under the marketing the entire business is seen
from the view point of the customer.
16814 Page 3 of 20
INTRODUCTION
Marketing is the activity that helps business in promoting brand and attracting consumers
towards the firm. Present study is based on Beauty Giant, Beauty Giant is spread over about 50
branches in UK (Akbar and et.al., 2017). They are not the producer of the product of their own.
The company has launched its own product known as Forever Green which targets the audiences
of the age over 30. Supply chain system of Beauty giant is very smooth. Its inbound logistic
activities ensures proper scheduling of production and subcontracting. Inbound team ensures
managing raw material in warehouse in proper manner. International logistics tam of the
company manage procurement flow management so that balance can be made between input and
output. Loreal, Unilever are the major competitors of Beauty Giant. Current report will highlight
interlink between marketing and the other department such as Product department, finance
department, Information Technology Department, Human Resource Department. Furthermore,
study will explain responsibility of marketing function in business unit. It will compare
marketing mix of the firm with its competitors. At last marketing plan will be produced to raise
sales of forever young product of Beauty Giant. Under the marketing the entire business is seen
from the view point of the customer.
16814 Page 3 of 20
Marketing Esentials Business
LO1
Key roles and responsibilities of marketing function
Marketing is the process of attracting potential buyers and analysing their needs to raise
sales of organisation. Market research is the main responsibility of marketing function of Beauty
Giant. This is the very important key of the marketing function which includes gathering market
information regarding current opportunities for expansion of the business. This also involve
identification of product demands in the market and understanding needs and expectations of
targeted customers which helps company to bring right product in the market to increase number
of sales meanwhile increasing profitability (Baker and Magnini, 2016). Market research also
involve study of the strengths or weaknesses of competitors which results in decreasing chances
of failure or losses to the firm. This key function helps in setting short term or long term business
strategies as it keeps company updated about its competitors and customers. Beauty giant is
performing multiple research practices and keep itself updated about market data for its
development and expansion with introducing new anti-ageing product by analysing its demand in
the market (Gurtner, Spanjol and Griffin, 2018).
Marketing planning is another responsibility of marketing function in Beauty Giant. This
function is defined as designing of short term or long term goals of the organisation which helps
to keep its employees organised and motivated towards their work. This also involve generation
of strategies for overall running of firm which gives directions for its working and also allows to
maintain its management and climate. The process of marketing planning also plans for the
launching the correct product with right prices at the right place where they can target large
audience towards it so that they can earn high interest from their customers. Beauty giant has
well planned strategies for increasing number of sales and for maintaining organised
environment to achieve its aims and also retaining its competitive position in the market. Beauty
giant has also planned about the new innovative product it is going to launch in the market (Hair
Jr and et.al., 2015).
Product management and development role play by marketing department. Product
development explains planning of producing and developing new products in the market by
16814 Page 4 of 20
LO1
Key roles and responsibilities of marketing function
Marketing is the process of attracting potential buyers and analysing their needs to raise
sales of organisation. Market research is the main responsibility of marketing function of Beauty
Giant. This is the very important key of the marketing function which includes gathering market
information regarding current opportunities for expansion of the business. This also involve
identification of product demands in the market and understanding needs and expectations of
targeted customers which helps company to bring right product in the market to increase number
of sales meanwhile increasing profitability (Baker and Magnini, 2016). Market research also
involve study of the strengths or weaknesses of competitors which results in decreasing chances
of failure or losses to the firm. This key function helps in setting short term or long term business
strategies as it keeps company updated about its competitors and customers. Beauty giant is
performing multiple research practices and keep itself updated about market data for its
development and expansion with introducing new anti-ageing product by analysing its demand in
the market (Gurtner, Spanjol and Griffin, 2018).
Marketing planning is another responsibility of marketing function in Beauty Giant. This
function is defined as designing of short term or long term goals of the organisation which helps
to keep its employees organised and motivated towards their work. This also involve generation
of strategies for overall running of firm which gives directions for its working and also allows to
maintain its management and climate. The process of marketing planning also plans for the
launching the correct product with right prices at the right place where they can target large
audience towards it so that they can earn high interest from their customers. Beauty giant has
well planned strategies for increasing number of sales and for maintaining organised
environment to achieve its aims and also retaining its competitive position in the market. Beauty
giant has also planned about the new innovative product it is going to launch in the market (Hair
Jr and et.al., 2015).
Product management and development role play by marketing department. Product
development explains planning of producing and developing new products in the market by
16814 Page 4 of 20
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Marketing Esentials Business
analysing and understanding needs, expectations and preferences of the consumers which results
in increases number of sales. This also includes introduction of new products in the market or of
developed or improved quality of existing one, which results into customer retention and loyalty
towards the firm. Beauty Giant is selling cosmetics products and decided to launch new anti-
ageing product which is named as forever young in the market by understanding its demands and
preferences in the market. Forever young is well developed and improved quality product which
is attracting large audiences from the market (Lane, 2016).
Setting prices is another responsibility of markeitng in Beauty Giant. This is very
important process of marketing because if the service offered is expensive then there is a
probability of losing customers ultimately it will lead to reduction in the number of sales with
reducing customers while if the product price is very low then there is a chance that the company
will have losses as it will not be able to compensate with the amount firm has applied for the
production of the product. Hence it is necessary for the organisation to set correct prices for its
services (Malhotra, 2015). Beauty giant has well practised this activity as it is very important for
attracting number of consumers for its new cosmetic product that is forever young for gaining
large amount of interest.
Standardisation role plays by marketing function in Beauty Giant. Standardisation is the
management process which is followed by all the multinational companies. This involves control
and regulation of the standard shape, size and design along with quality and quantity of the
product internationally and using right advertising and distributing channels for its promotion.
Beauty giant is using standardisation for producing new cosmetic or anti-ageing product which is
forever young. Due to this, forever young is lacking uniqueness but meanwhile creating trust
within consumers (Medina, Coelho and Bellido-Pérez, 2017).
It works as Promotion channels, these publicity practices are done for attracting huge
crowd to build new costumers and for retention of the old one. This involve uses of multiple
sources such as internet, social media or print media or website generation etc. for
advertisement of offered goods and services to gain publicity. Beauty giant is promoting itself
and its new cosmetic or anti-ageing forever young item by developing websites, or by keeping
itself highly updated on the social media, or internet (Muralidharan and Raval, 2017).
Financing business is another role of marketing. Finance is the technique of controlling the
accounts of the firm and is very important for the entity to perform this technique as it includes
16814 Page 5 of 20
analysing and understanding needs, expectations and preferences of the consumers which results
in increases number of sales. This also includes introduction of new products in the market or of
developed or improved quality of existing one, which results into customer retention and loyalty
towards the firm. Beauty Giant is selling cosmetics products and decided to launch new anti-
ageing product which is named as forever young in the market by understanding its demands and
preferences in the market. Forever young is well developed and improved quality product which
is attracting large audiences from the market (Lane, 2016).
Setting prices is another responsibility of markeitng in Beauty Giant. This is very
important process of marketing because if the service offered is expensive then there is a
probability of losing customers ultimately it will lead to reduction in the number of sales with
reducing customers while if the product price is very low then there is a chance that the company
will have losses as it will not be able to compensate with the amount firm has applied for the
production of the product. Hence it is necessary for the organisation to set correct prices for its
services (Malhotra, 2015). Beauty giant has well practised this activity as it is very important for
attracting number of consumers for its new cosmetic product that is forever young for gaining
large amount of interest.
Standardisation role plays by marketing function in Beauty Giant. Standardisation is the
management process which is followed by all the multinational companies. This involves control
and regulation of the standard shape, size and design along with quality and quantity of the
product internationally and using right advertising and distributing channels for its promotion.
Beauty giant is using standardisation for producing new cosmetic or anti-ageing product which is
forever young. Due to this, forever young is lacking uniqueness but meanwhile creating trust
within consumers (Medina, Coelho and Bellido-Pérez, 2017).
It works as Promotion channels, these publicity practices are done for attracting huge
crowd to build new costumers and for retention of the old one. This involve uses of multiple
sources such as internet, social media or print media or website generation etc. for
advertisement of offered goods and services to gain publicity. Beauty giant is promoting itself
and its new cosmetic or anti-ageing forever young item by developing websites, or by keeping
itself highly updated on the social media, or internet (Muralidharan and Raval, 2017).
Financing business is another role of marketing. Finance is the technique of controlling the
accounts of the firm and is very important for the entity to perform this technique as it includes
16814 Page 5 of 20
Marketing Esentials Business
budget analysis and planning which prevents losses and failure of the business. Finance set the
budget required for the production, promotion, and development of the offered services to
expand the business and to gain large profit. Beauty giant has well setted its budget for
production and promotion of its new product forever young and for developing competitive
position in the market (Pappas, 2017).
Selling is the most important marketing function and ultimate goal of every firm as it is the
key to earn money. For selling of the goods and services, all the other functions that are research,
planning, production, promotion, and management of offered services are performed. Higher the
number of selling of the products, higher will be profit margins of the organisation. Beauty giant
is the cosmetic company which has performed all the marketing functions for production,
development and launching of new product for reaching the ultimate goal of selling forever
young to gain profits and to create the loyal customers towards its products (Pike, 2016).
Customer services is for providing guidance and helplines to the consumers prior, during
and later to purchasing of products. This includes giving all the details regarding demanded
service to the consumers and fulfilling their needs and expectations along with answering their
all the inquiries. This services are the key responsibility of firm and plays very important role in
selling of the products. Customer services help in influencing customers to buy offered product
meanwhile gaining profits from them (Piñeiro-Otero and Martínez-Rolán, 2016). This also helps
in creating satisfied and loyal customers towards their goods and services. Beauty giant cosmetic
selling company is giving outstanding customer services to their consumers and also enhancing
values of their new innovative anti-ageing forever young.
Responsibility and roles which a marketing function have with other functions of the
organisation Beauty Giant
Marketing relationship with Production or Operation Department
The team of marketing of Beauty Giant has to coherently work with Production
department. Here the company is targeting the age group of over 30 years, so the marketing
department must do the research of the taste and preferences of the age group of over 30 years.
The production department also make the product or design the product as per the research made
by the marketing department in order to achieve the goal of the organisation. The marketing
department also sets the deadlines which a production department must match. This will benefit
16814 Page 6 of 20
budget analysis and planning which prevents losses and failure of the business. Finance set the
budget required for the production, promotion, and development of the offered services to
expand the business and to gain large profit. Beauty giant has well setted its budget for
production and promotion of its new product forever young and for developing competitive
position in the market (Pappas, 2017).
Selling is the most important marketing function and ultimate goal of every firm as it is the
key to earn money. For selling of the goods and services, all the other functions that are research,
planning, production, promotion, and management of offered services are performed. Higher the
number of selling of the products, higher will be profit margins of the organisation. Beauty giant
is the cosmetic company which has performed all the marketing functions for production,
development and launching of new product for reaching the ultimate goal of selling forever
young to gain profits and to create the loyal customers towards its products (Pike, 2016).
Customer services is for providing guidance and helplines to the consumers prior, during
and later to purchasing of products. This includes giving all the details regarding demanded
service to the consumers and fulfilling their needs and expectations along with answering their
all the inquiries. This services are the key responsibility of firm and plays very important role in
selling of the products. Customer services help in influencing customers to buy offered product
meanwhile gaining profits from them (Piñeiro-Otero and Martínez-Rolán, 2016). This also helps
in creating satisfied and loyal customers towards their goods and services. Beauty giant cosmetic
selling company is giving outstanding customer services to their consumers and also enhancing
values of their new innovative anti-ageing forever young.
Responsibility and roles which a marketing function have with other functions of the
organisation Beauty Giant
Marketing relationship with Production or Operation Department
The team of marketing of Beauty Giant has to coherently work with Production
department. Here the company is targeting the age group of over 30 years, so the marketing
department must do the research of the taste and preferences of the age group of over 30 years.
The production department also make the product or design the product as per the research made
by the marketing department in order to achieve the goal of the organisation. The marketing
department also sets the deadlines which a production department must match. This will benefit
16814 Page 6 of 20
Marketing Esentials Business
the company in doing appropriate research for satisfying the current and future needs of the
customers (Purvis, 2015).
Marketing relationship with Finance Department
In order to coordinate with the Finance Department the Marketing Department tell the
Finance department of the Beauty Giant that this is the budget in which the company have to
make the product which will help the Finance department then using the financial skill do add
ons in the budget which meets the needs which the amount needed for the research, distribution
and promotion of the product known as Forever young (Siahpush and et.al., 2016). As the
finance department having the financial brief of the Beauty Giant so the finance department will
be wanting that the business must operate within the financial capabilities of the Beauty Giant. It
can also happen as the product is new so the company may overall departments, marketing may
wish to overspend if profitable on the product in order to achieve profitable opportunity of
capturing the entire market of the age group of over 30. The marketing department here will
focus on achieving maximum sales and which will help the company in building the market
share of the company whereas the finance department will focus finance related matters such as
cash flow of the product which includes the financing activities of the product, investing
activities of the product, and also the operating activities of the product, which help the
marketing department to plan accordingly to the product. If in marketing the budget is over or
under estimated, then the finance department focus on covering the cost of the product Forever
young and also focus on the paying back the investment which is made as soon as possible. The
company will be benefited by this by planning the best budget for marketing (Uncles, 2018).
Marketing relationship with the Human Resource Department
The marketing department have to work coherently and much closely in order to achieve
the best out of the best. The marketing department can help the HRM department of the Beauty
Giant by ensuring that the sound team for sales in built in order to achieve the maximum market
share of product between the age group of over 30. This will also encourage to build a market
share between the other age groups which consider all the age groups in it. The marketing
department have work much closely as all things depends upon hiring the required skills so that
new and innovative ideas in order to build the new and attractive product are encouraged.
The skilled sales team which is having the skills to meet the target must be hired and also
in production the team must be hired which are having the skills to produce the Forever young
16814 Page 7 of 20
the company in doing appropriate research for satisfying the current and future needs of the
customers (Purvis, 2015).
Marketing relationship with Finance Department
In order to coordinate with the Finance Department the Marketing Department tell the
Finance department of the Beauty Giant that this is the budget in which the company have to
make the product which will help the Finance department then using the financial skill do add
ons in the budget which meets the needs which the amount needed for the research, distribution
and promotion of the product known as Forever young (Siahpush and et.al., 2016). As the
finance department having the financial brief of the Beauty Giant so the finance department will
be wanting that the business must operate within the financial capabilities of the Beauty Giant. It
can also happen as the product is new so the company may overall departments, marketing may
wish to overspend if profitable on the product in order to achieve profitable opportunity of
capturing the entire market of the age group of over 30. The marketing department here will
focus on achieving maximum sales and which will help the company in building the market
share of the company whereas the finance department will focus finance related matters such as
cash flow of the product which includes the financing activities of the product, investing
activities of the product, and also the operating activities of the product, which help the
marketing department to plan accordingly to the product. If in marketing the budget is over or
under estimated, then the finance department focus on covering the cost of the product Forever
young and also focus on the paying back the investment which is made as soon as possible. The
company will be benefited by this by planning the best budget for marketing (Uncles, 2018).
Marketing relationship with the Human Resource Department
The marketing department have to work coherently and much closely in order to achieve
the best out of the best. The marketing department can help the HRM department of the Beauty
Giant by ensuring that the sound team for sales in built in order to achieve the maximum market
share of product between the age group of over 30. This will also encourage to build a market
share between the other age groups which consider all the age groups in it. The marketing
department have work much closely as all things depends upon hiring the required skills so that
new and innovative ideas in order to build the new and attractive product are encouraged.
The skilled sales team which is having the skills to meet the target must be hired and also
in production the team must be hired which are having the skills to produce the Forever young
16814 Page 7 of 20
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Marketing Esentials Business
product in order to meet the demand and supply of the product. For example, if the time taken by
the training department in the Beauty Giant is more then it will affect the marketing department
as the time needed for the marketing team is increase due to more time taken by the HRM in
training the employees, so the marketing department must do balancing with the HRM
department of Beauty Giant in order to avoid any delay in work. So the marketing department
can also help the HRM department by researching of workers which are prominent and are
working in other companies and informing the employees information to the list of the
employees which are prominent and telling the HRM to hire them by offering the employees
attractive packages (Zimmerman and Blythe, 2017). The company will be benefited by this in the
form of hiring the best employees in the organisation.
Marketing department relationship with the Information technology department
If the marketing team have to better understand the customer, then the marketing team
must know what is being searched online by the audience in the beauty products which is by the
age group of over 30 years. Anti-ageing product “Forever Young” must met the requirement
which is searched by the audience. The IT department can help the Marketing department by
letting know the marketing department what is being searched online by the audience over the
internet. The information Technology department can help the marketing department to
understand the complicated data which is related to interaction between the customers of the
organisation and the business. There various IT skills which are prevalent in digital marketing
which can help the marketing department to achieve the target
(Akbar and et.al., 2017). Such skills are SEO, Social media marketing, coding, etc. The company
will be benefited by this in a way to grab the interest of the customers which they show by going
online.
16814 Page 8 of 20
product in order to meet the demand and supply of the product. For example, if the time taken by
the training department in the Beauty Giant is more then it will affect the marketing department
as the time needed for the marketing team is increase due to more time taken by the HRM in
training the employees, so the marketing department must do balancing with the HRM
department of Beauty Giant in order to avoid any delay in work. So the marketing department
can also help the HRM department by researching of workers which are prominent and are
working in other companies and informing the employees information to the list of the
employees which are prominent and telling the HRM to hire them by offering the employees
attractive packages (Zimmerman and Blythe, 2017). The company will be benefited by this in the
form of hiring the best employees in the organisation.
Marketing department relationship with the Information technology department
If the marketing team have to better understand the customer, then the marketing team
must know what is being searched online by the audience in the beauty products which is by the
age group of over 30 years. Anti-ageing product “Forever Young” must met the requirement
which is searched by the audience. The IT department can help the Marketing department by
letting know the marketing department what is being searched online by the audience over the
internet. The information Technology department can help the marketing department to
understand the complicated data which is related to interaction between the customers of the
organisation and the business. There various IT skills which are prevalent in digital marketing
which can help the marketing department to achieve the target
(Akbar and et.al., 2017). Such skills are SEO, Social media marketing, coding, etc. The company
will be benefited by this in a way to grab the interest of the customers which they show by going
online.
16814 Page 8 of 20
Marketing Esentials Business
(Figure 1: List of Functional Areas of a Business,2019)
There is essential to have strong connection between each department of organisation.
Effective coordination between research and marketing team is significant in getting right
information and implementing necessary changes that may help in improving the customer
satisfaction. Apart from this, strong bonding minimises confusion which aids in utilising
resources well and managing production load easily. Interrelationship between various functional
units are significant in raising production ability of Beauty giant because it would be able to get
right information from other departments about market demand which will help in producing that
much products in time so that sales and revenues of company can be raised. If there is no
relationship, then it may cause confuse and productivity of the organisation will be affected.
LO2
Comparison of marketing mix between Beauty Giant and L 'Oreal
Marketing concept is basically combination of factors controlled by the company to
influence the customers to purchase its product. In today's market conditions competition is the
biggest challenge a company face, on the other hand there are factors unavoidable and
uncontrolled by the company so to overcome those factors the company apply some of the tactics
to ensure smooth functionality of their business (Baker and Magnini, 2016).
16814 Page 9 of 20
(Figure 1: List of Functional Areas of a Business,2019)
There is essential to have strong connection between each department of organisation.
Effective coordination between research and marketing team is significant in getting right
information and implementing necessary changes that may help in improving the customer
satisfaction. Apart from this, strong bonding minimises confusion which aids in utilising
resources well and managing production load easily. Interrelationship between various functional
units are significant in raising production ability of Beauty giant because it would be able to get
right information from other departments about market demand which will help in producing that
much products in time so that sales and revenues of company can be raised. If there is no
relationship, then it may cause confuse and productivity of the organisation will be affected.
LO2
Comparison of marketing mix between Beauty Giant and L 'Oreal
Marketing concept is basically combination of factors controlled by the company to
influence the customers to purchase its product. In today's market conditions competition is the
biggest challenge a company face, on the other hand there are factors unavoidable and
uncontrolled by the company so to overcome those factors the company apply some of the tactics
to ensure smooth functionality of their business (Baker and Magnini, 2016).
16814 Page 9 of 20
Marketing Esentials Business
The Beauty Giant marketing concept are the same when it comes to the product Forever
Young. They claim it to be their fortune changing product as beauty giant faced a major hike in
the sales of the company immediately after the launch of product. The brand managed to develop
trust among users as well as managed to score the image amongst its rivals (Gurtner, Spanjol and
Griffin, 2018).
The leading beauty brand once in a conference admitted that they faced tough completion
from its rival brand L 'Oreal dealing in the same cosmetic products as trusted by majority
consumers of these type of cosmetic products.
Loreal objective is to enhance its market share and become the market leader of cosmetic
industry.
Beauty giant objective is to raise sales of its products so that it can gain competitive
advantage.
A research method marketing mix is applied by both companies to promote their product to
consumers to maximize its sales figure resulting them to cover their specified market as well as
maximise their revenue that is as follows -
Beauty Giant L'Oreal
Product Beauty Giant deals in different types
of beauty product such as Cosmetics,
Herbal hair colour, Skin relaxation
ointment, Nail decor kit, Flavoured
lipstick, Hair oil for nerve relaxation,
Herbal hair growth oil, Aloe Vera
Shampoo, Herbal Body wash. The
design and branding is kept simple
and all the emphasis is drawn
towards highlighting the usefulness
and value of the product (Hair Jr and
et.al., 2015). Offering wide range of
product help the beauty giant in
attracting more buyers that help in
The brand deals in products such as
make-up foundation, Eye liner, Lashes
Mascara, Mono Eyeshadow, Souffle
foundation, Nutri Shine Lipstick,
Titanium nail paint, Pro Eyeshadow,
Parfait Liner, Rouge lipstick. Design
and branding matters the most in this
product and special designers are hired
to design packaging boxes and is
convenient to reach as available on a
large geographic scale. Effective
designing strategy of L’Oréal helps the
business in enhancing trust of
consumers by this way consumers
16814 Page 10 of 20
The Beauty Giant marketing concept are the same when it comes to the product Forever
Young. They claim it to be their fortune changing product as beauty giant faced a major hike in
the sales of the company immediately after the launch of product. The brand managed to develop
trust among users as well as managed to score the image amongst its rivals (Gurtner, Spanjol and
Griffin, 2018).
The leading beauty brand once in a conference admitted that they faced tough completion
from its rival brand L 'Oreal dealing in the same cosmetic products as trusted by majority
consumers of these type of cosmetic products.
Loreal objective is to enhance its market share and become the market leader of cosmetic
industry.
Beauty giant objective is to raise sales of its products so that it can gain competitive
advantage.
A research method marketing mix is applied by both companies to promote their product to
consumers to maximize its sales figure resulting them to cover their specified market as well as
maximise their revenue that is as follows -
Beauty Giant L'Oreal
Product Beauty Giant deals in different types
of beauty product such as Cosmetics,
Herbal hair colour, Skin relaxation
ointment, Nail decor kit, Flavoured
lipstick, Hair oil for nerve relaxation,
Herbal hair growth oil, Aloe Vera
Shampoo, Herbal Body wash. The
design and branding is kept simple
and all the emphasis is drawn
towards highlighting the usefulness
and value of the product (Hair Jr and
et.al., 2015). Offering wide range of
product help the beauty giant in
attracting more buyers that help in
The brand deals in products such as
make-up foundation, Eye liner, Lashes
Mascara, Mono Eyeshadow, Souffle
foundation, Nutri Shine Lipstick,
Titanium nail paint, Pro Eyeshadow,
Parfait Liner, Rouge lipstick. Design
and branding matters the most in this
product and special designers are hired
to design packaging boxes and is
convenient to reach as available on a
large geographic scale. Effective
designing strategy of L’Oréal helps the
business in enhancing trust of
consumers by this way consumers
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increasing its sales. become frequent buyer of the firm
which aids in attracting more
consumers. By this way market share
objective of the organisation get
accomplished.
Promotion The firm tend to prefer a unique
platform for the promotion of
product. The annual meet of society,
women meet and greet programmes,
yoga and aerobics centres are some
of the places where the company
prefer promotion of the product.
Beauty Giant takes support of
marketing campaigning to promote
the brand, at it's focused markets
leading to enquiry generation and
maximising outputs. By this way
sales objective of the firm gets
achieved as sales gets increased,
The promotion of the product takes
place online on social media products,
celebrities brand ambassadors are
contracted with the enterprise to
promote the product and target the
majority consumers of the following
article. Trail products are offered to the
consumers as well as free gifts are
provided to the users thus making it a
preference for any beauty product
(Lane, 2016). This kind of promotions
gain attention of buyers and firms
become the global brand. By this way
its objective to become market leader
gets accomplished successfully.
Price Beauty Giant applies skimming
pricing strategy that aids business in
attracting more consumers towards
brand. While launching a product the
Beauty Giant focuses on the targeted
class that is the middle class society
like working women, house wife's,
social workers, etc. Keeping their
spending range in mind the article is
priced at a very affordable range to
Lore al takes support of competitive
pricing strategy, it keeps its price of
products as per competitor’s prices.
Price of the product is a bit higher in
these type of segments as celebrities are
endorsed for advertisement and
promotion of product, thus increases
cost of product. The psychology of
consumers to spend on this product is
vast as they develop a trust on their
16814 Page 11 of 20
increasing its sales. become frequent buyer of the firm
which aids in attracting more
consumers. By this way market share
objective of the organisation get
accomplished.
Promotion The firm tend to prefer a unique
platform for the promotion of
product. The annual meet of society,
women meet and greet programmes,
yoga and aerobics centres are some
of the places where the company
prefer promotion of the product.
Beauty Giant takes support of
marketing campaigning to promote
the brand, at it's focused markets
leading to enquiry generation and
maximising outputs. By this way
sales objective of the firm gets
achieved as sales gets increased,
The promotion of the product takes
place online on social media products,
celebrities brand ambassadors are
contracted with the enterprise to
promote the product and target the
majority consumers of the following
article. Trail products are offered to the
consumers as well as free gifts are
provided to the users thus making it a
preference for any beauty product
(Lane, 2016). This kind of promotions
gain attention of buyers and firms
become the global brand. By this way
its objective to become market leader
gets accomplished successfully.
Price Beauty Giant applies skimming
pricing strategy that aids business in
attracting more consumers towards
brand. While launching a product the
Beauty Giant focuses on the targeted
class that is the middle class society
like working women, house wife's,
social workers, etc. Keeping their
spending range in mind the article is
priced at a very affordable range to
Lore al takes support of competitive
pricing strategy, it keeps its price of
products as per competitor’s prices.
Price of the product is a bit higher in
these type of segments as celebrities are
endorsed for advertisement and
promotion of product, thus increases
cost of product. The psychology of
consumers to spend on this product is
vast as they develop a trust on their
16814 Page 11 of 20
Marketing Esentials Business
generate ascending sales figure
(Malhotra, 2015). The psychology of
targeted costumers are considered
while pricing product and implying
strategy scheming thus resulting in
market penetration and boosting the
product user count. This helps in
retaining consumers and making
them loyal towards the brand hence
revenue objective of business gets
accomplished.
product due to their advertisement
strategies and thus increasing the prise
of product and still manage to put an
impression on their users. Sometimes
L'Oreal faces some prising differences
with rival MAC Cosmetics but furtherly
manage to generate sales figures. This
is beneficial in meeting the objective of
reaching sales target.
Place The focus of this product goes on
direct sales as well as wholesale
counters for easy approach of the
product. Targeted geographic area in
these type of product is basically sub
urban sectors, rural towns, work
places, several government offices,
health care centres, herbal or
Ayurvedic nutrition centres. It aids
in controlling over cost and
generating more revenues hence
increasing revenue objective of firm
can be obtained.
The product is targeted to urban cities,
high class clubs, parlours, Estheticians
for further recommendation of the
range. Company is this case prefer
direct sales installing specify counter
for the users to approach all the product
at a single counter. The counter is
equipped with all the demo product by
L'Oreal for its user for sample testing
purpose (Medina, Coelho and Bellido-
Pérez, 2017). By this way entity can
easily attract new consumers which is
better in meeting the high market share
objective.
People The employees in this type of
product making focuses on the
management decisions for the sales
and the targeted culture. The
management shows least interest in
Employees have a sense of job
satisfaction as well as job security in
this type of firm as the management
tend to interact on regular basis. The
culture is relaxing and both the
16814 Page 12 of 20
generate ascending sales figure
(Malhotra, 2015). The psychology of
targeted costumers are considered
while pricing product and implying
strategy scheming thus resulting in
market penetration and boosting the
product user count. This helps in
retaining consumers and making
them loyal towards the brand hence
revenue objective of business gets
accomplished.
product due to their advertisement
strategies and thus increasing the prise
of product and still manage to put an
impression on their users. Sometimes
L'Oreal faces some prising differences
with rival MAC Cosmetics but furtherly
manage to generate sales figures. This
is beneficial in meeting the objective of
reaching sales target.
Place The focus of this product goes on
direct sales as well as wholesale
counters for easy approach of the
product. Targeted geographic area in
these type of product is basically sub
urban sectors, rural towns, work
places, several government offices,
health care centres, herbal or
Ayurvedic nutrition centres. It aids
in controlling over cost and
generating more revenues hence
increasing revenue objective of firm
can be obtained.
The product is targeted to urban cities,
high class clubs, parlours, Estheticians
for further recommendation of the
range. Company is this case prefer
direct sales installing specify counter
for the users to approach all the product
at a single counter. The counter is
equipped with all the demo product by
L'Oreal for its user for sample testing
purpose (Medina, Coelho and Bellido-
Pérez, 2017). By this way entity can
easily attract new consumers which is
better in meeting the high market share
objective.
People The employees in this type of
product making focuses on the
management decisions for the sales
and the targeted culture. The
management shows least interest in
Employees have a sense of job
satisfaction as well as job security in
this type of firm as the management
tend to interact on regular basis. The
culture is relaxing and both the
16814 Page 12 of 20
Marketing Esentials Business
the involvement of employees as
their consumers don't demand
anything more than what the product
deliver. Beauty Giant provides
incentives to encourage its workers
and also it follows democratic
leadership where workers are being
involved in management decision
which makes them happy
(Muralidharan and Raval, 2017).
This kind of employee management
strategy supports in enhancing
retention rate in the firm, by this way
skilled workers work to satisfy
consumers that makes the people
loyal which is better for the growth
of organisation.
management and the employees have
higher job satisfaction as well as the
customers are also heard through
customer satisfaction window ensuring
the trust between the brand and
consumer.
Hence consumers like to buy its
products which help in increasing sales
of the firm.
Process The process of customer interaction
in Beauty Giant are highly rated as
the firm is focusing on establishing
it's products in the market, they even
promote direct interaction through
campaigning and thus this type of
effort results in the growth of the
organization.
Consumers in these type of firms are
connect with the helpline facilities and
they are even free to post their enquires
and comments for the betterment of the
brand image and growth of firm
(Pappas, 2017).
Physical Evidence The product is available for the
customers as several counters, stores
and they prefer to keep a
sophisticated infrastructure in their
premises to keep a decent
L'Oreal has deigned a stylish logo with
it's initial that looks elegant and their
store catches eyes by it's appealing
infrastructure as the colour combination
at their place is very elegant. By this
16814 Page 13 of 20
the involvement of employees as
their consumers don't demand
anything more than what the product
deliver. Beauty Giant provides
incentives to encourage its workers
and also it follows democratic
leadership where workers are being
involved in management decision
which makes them happy
(Muralidharan and Raval, 2017).
This kind of employee management
strategy supports in enhancing
retention rate in the firm, by this way
skilled workers work to satisfy
consumers that makes the people
loyal which is better for the growth
of organisation.
management and the employees have
higher job satisfaction as well as the
customers are also heard through
customer satisfaction window ensuring
the trust between the brand and
consumer.
Hence consumers like to buy its
products which help in increasing sales
of the firm.
Process The process of customer interaction
in Beauty Giant are highly rated as
the firm is focusing on establishing
it's products in the market, they even
promote direct interaction through
campaigning and thus this type of
effort results in the growth of the
organization.
Consumers in these type of firms are
connect with the helpline facilities and
they are even free to post their enquires
and comments for the betterment of the
brand image and growth of firm
(Pappas, 2017).
Physical Evidence The product is available for the
customers as several counters, stores
and they prefer to keep a
sophisticated infrastructure in their
premises to keep a decent
L'Oreal has deigned a stylish logo with
it's initial that looks elegant and their
store catches eyes by it's appealing
infrastructure as the colour combination
at their place is very elegant. By this
16814 Page 13 of 20
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Marketing Esentials Business
image(Pike, 2016). This attracts
consumers and raise its sales volume
as well.
way consumers like to buy products of
the company and they suggest others as
well. Hence it helps in generating more
revenues.
All these factors conclude the market conditions leading to the footfall of the consumers
to their store and the ability of employees to convert them into the loyal customers, sometimes
companies provide loyalty bonuses to their permanent customers so as to maintain their trust
with the brand and lead a better growth in future.
LO3
Marketing plan for beauty Giant.
Executive summary
In marketing planning of the product Forever young, there are many factors the
marketing manager have to consider such as budget of marketing, platforms of marketing,
channels of marketing in order to get effective results. What are the Ifs and buts of the product
in between the age group of over 30 years and how to resolve these ifs and buts of the product
(Akbar and et.al., 2017).
Company information
The company Beauty Giant is basically dealing in selling toiletries around the world of
various brands of men as well as women. The company is not having any product or services but
the company recently have decided that they will launch a new product which is an anti-ageing
product and the product will be targeting the age group which is over 30 years of age. The name
of the product will be Forever Young. The company is having over 50 branches so far which is
in UK. The name of the company is good in the market and that is the reason the company is
deciding to bring the product of its own kind and a very new concept.
Vision and objective
Vision of Beauty giant is to become the market leader in cosmetic industry.
Objective of business is to increase sales of its forever young product by 30% till the end
of 2019.
To increase number of customer of forever product of Beauty Giant by 25% till the end
of 2020.
16814 Page 14 of 20
image(Pike, 2016). This attracts
consumers and raise its sales volume
as well.
way consumers like to buy products of
the company and they suggest others as
well. Hence it helps in generating more
revenues.
All these factors conclude the market conditions leading to the footfall of the consumers
to their store and the ability of employees to convert them into the loyal customers, sometimes
companies provide loyalty bonuses to their permanent customers so as to maintain their trust
with the brand and lead a better growth in future.
LO3
Marketing plan for beauty Giant.
Executive summary
In marketing planning of the product Forever young, there are many factors the
marketing manager have to consider such as budget of marketing, platforms of marketing,
channels of marketing in order to get effective results. What are the Ifs and buts of the product
in between the age group of over 30 years and how to resolve these ifs and buts of the product
(Akbar and et.al., 2017).
Company information
The company Beauty Giant is basically dealing in selling toiletries around the world of
various brands of men as well as women. The company is not having any product or services but
the company recently have decided that they will launch a new product which is an anti-ageing
product and the product will be targeting the age group which is over 30 years of age. The name
of the product will be Forever Young. The company is having over 50 branches so far which is
in UK. The name of the company is good in the market and that is the reason the company is
deciding to bring the product of its own kind and a very new concept.
Vision and objective
Vision of Beauty giant is to become the market leader in cosmetic industry.
Objective of business is to increase sales of its forever young product by 30% till the end
of 2019.
To increase number of customer of forever product of Beauty Giant by 25% till the end
of 2020.
16814 Page 14 of 20
Marketing Esentials Business
Situation analyses
There are many management theories which are required to consider while planning and
are as follows.
SWOT analysis is the analysis which is done to evaluate what are the internal
weaknesses of the company and what are the internal strengths of the company, which a
company can take advantage of and also this analysis describes the external threats as well
opportunity which a company to be aware of (Baker and Magnini, 2016).
Strength
It is an internal factor which decides what are the key factors which is making the
organisation Forever young, the best in the market. The strength of the company Beauty Giant is
its sound marketing skills. It is seen that the company have captured market in order to sell the
products of big brands. So it is a big advantage to the company over the competitors of the
company. Loyal employees are the strength of company., it has high quality of products that help
the organisation in gaining attention of potential buyers.
Weaknesses
The weaknesses of the company are lack of experience in the product which the company
is planning to launch but this can be corrected by analysing the competition in the market for the
similar product. It is also the internal factor of the company.
Opportunity
It is the external factor of the company in which the company will see what are the trends
in the market by which the company can enhance its sales the opportunity for the company
Beauty Giant is hiring the talented employees possessing agile skills. Globalisation can create
opportunity because by this way beauty giant would be able to develop its global brand presence.
Advance technologies are another great element which can become the way of success for the
company because it will control over cost and will manage operations easily.
Threat
It is also the external factor of the company in which the advantages the competitors have
over the Beauty Giant is taken (Gurtner, Spanjol and Griffin, 2018).
PEST analysis, is also a management analysis in which macro-environmental things
which are effecting the organisation is taken. This tool is extremely useful when starting a new
business or planning to launch a new product.
16814 Page 15 of 20
Situation analyses
There are many management theories which are required to consider while planning and
are as follows.
SWOT analysis is the analysis which is done to evaluate what are the internal
weaknesses of the company and what are the internal strengths of the company, which a
company can take advantage of and also this analysis describes the external threats as well
opportunity which a company to be aware of (Baker and Magnini, 2016).
Strength
It is an internal factor which decides what are the key factors which is making the
organisation Forever young, the best in the market. The strength of the company Beauty Giant is
its sound marketing skills. It is seen that the company have captured market in order to sell the
products of big brands. So it is a big advantage to the company over the competitors of the
company. Loyal employees are the strength of company., it has high quality of products that help
the organisation in gaining attention of potential buyers.
Weaknesses
The weaknesses of the company are lack of experience in the product which the company
is planning to launch but this can be corrected by analysing the competition in the market for the
similar product. It is also the internal factor of the company.
Opportunity
It is the external factor of the company in which the company will see what are the trends
in the market by which the company can enhance its sales the opportunity for the company
Beauty Giant is hiring the talented employees possessing agile skills. Globalisation can create
opportunity because by this way beauty giant would be able to develop its global brand presence.
Advance technologies are another great element which can become the way of success for the
company because it will control over cost and will manage operations easily.
Threat
It is also the external factor of the company in which the advantages the competitors have
over the Beauty Giant is taken (Gurtner, Spanjol and Griffin, 2018).
PEST analysis, is also a management analysis in which macro-environmental things
which are effecting the organisation is taken. This tool is extremely useful when starting a new
business or planning to launch a new product.
16814 Page 15 of 20
Marketing Esentials Business
POLITICAL FACTORS
Under this the factors which are related to the government and legislation which impact
the organisation Beauty Giant will be taken. Here in the organisation the things which can impact
the organisation is government providing subsidies to the start-ups to enter into the market which
can give competition to the Beauty Giant and snatching the customers of the company (Medina,
Coelho and Bellido-Pérez, 2017).
ECONOMICAL FACTORS
The economical factor are the factors which includes demand and supply, inflation rate,
the exchange rates etc. The Beauty Giant will be impacted by inflation rate which is prevailing in
UK. This will lead to rise in the price of the new anti-ageing product which is due to rise in the
cost of the product. So the marketing team of Beauty Young will conduct research of grabbing
the cheap and best resources in order to minimise the cost (Muralidharan and Raval, 2017).
SOCIAL FACTORS
The social factors include the distribution of the age, lifestyle, the trends, demographics
etc. The social factor which will impact the organisation is age distribution, because anti-ageing
product will adversely impact the age group which is below 30.
TECHNOLOGICAL FACTORS
The technological factors include online website, Automation, the connectivity of the
internet, The efficiency of machines, etc. The company is having poor technology which can be
rectified by updating the technology by the company by using the tools such as digital
technology (Pappas, 2017).
Marketing Mix strategies
The 4Ps of marketing which is also known as Marketing Mix is another factor which
takes into account Product, Price, Place, Promotion, Physical evidence, people, and process.
They are combine factors which are taken to influence the consumer to buy the product which is
new and will be launched by the Beauty Giant.
Product: Forever young item of Beauty Giant will have quality. Company will offer
warranty to consumers if they are unsatisfied with the product. Its designing and
customer service will be its USB. That would attract people and increasing 25% number
of customer objective of the firm will be obtained.
16814 Page 16 of 20
POLITICAL FACTORS
Under this the factors which are related to the government and legislation which impact
the organisation Beauty Giant will be taken. Here in the organisation the things which can impact
the organisation is government providing subsidies to the start-ups to enter into the market which
can give competition to the Beauty Giant and snatching the customers of the company (Medina,
Coelho and Bellido-Pérez, 2017).
ECONOMICAL FACTORS
The economical factor are the factors which includes demand and supply, inflation rate,
the exchange rates etc. The Beauty Giant will be impacted by inflation rate which is prevailing in
UK. This will lead to rise in the price of the new anti-ageing product which is due to rise in the
cost of the product. So the marketing team of Beauty Young will conduct research of grabbing
the cheap and best resources in order to minimise the cost (Muralidharan and Raval, 2017).
SOCIAL FACTORS
The social factors include the distribution of the age, lifestyle, the trends, demographics
etc. The social factor which will impact the organisation is age distribution, because anti-ageing
product will adversely impact the age group which is below 30.
TECHNOLOGICAL FACTORS
The technological factors include online website, Automation, the connectivity of the
internet, The efficiency of machines, etc. The company is having poor technology which can be
rectified by updating the technology by the company by using the tools such as digital
technology (Pappas, 2017).
Marketing Mix strategies
The 4Ps of marketing which is also known as Marketing Mix is another factor which
takes into account Product, Price, Place, Promotion, Physical evidence, people, and process.
They are combine factors which are taken to influence the consumer to buy the product which is
new and will be launched by the Beauty Giant.
Product: Forever young item of Beauty Giant will have quality. Company will offer
warranty to consumers if they are unsatisfied with the product. Its designing and
customer service will be its USB. That would attract people and increasing 25% number
of customer objective of the firm will be obtained.
16814 Page 16 of 20
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Marketing Esentials Business
Price: Skimming pricing strategy will be used, by this way it will be able to gain attention
of mass audience towards forever young product. By this way it would be able to retain
consumers hence sales target will be met.
Place: Beauty giant will take assistance of sales support channels; this would help in
reaching to end users immediately. It will use direct distribution strategy to reach to
direct consumers. This would be better to know more about potential buyer and offering
them satisfactory services.
Promotion : Promotion will be done through promotional campaigns and social media.
Both these tactics will give positive result to the firm and will help in attracting
consumers towards its forever young product (Piñeiro-Otero and Martínez-Rolán, 2016).
Hence number of customer of the firm will be increased.
People: company will give sufficient leaves to its workers and will give them working
hour flexibility that would make them loyal and they will work hard in the firm to satisfy
the consumers.
Physical evidence: Its logo and tag line would be eye catching hence consumers will like
to buy this cosmetic products which will raise sale of the firm.
Process: Consumers complains would be its USB and it will be resolved soon so that
retention of customers can be increased.
Segmentation, positioning, targeting
Segmentation, Targeting, and Position, in segmentation groups of the buyers are divided
as per the range which will determine the characteristics of the market.
Segmentation:
In the company the segmentation strategy will be used as demographic segmentation
which will help the Beauty Giant in considering the age and gender factors in which the product
for the male and female will be designed as per the similar taste. Forever is the anti-aging
product hence demographic segmentation will give best result to Beauty Giant, by this way it
will be able to reach to right consumers. This would help in targeting people on their gender
bases which would help in knowing more about their needs and meeting their requirements.
Positioning
In positioning the Beauty Giant will apply cost positioning in which various factors such
as the competitors, pricing of the product, quality of product will be considered in order to win
16814 Page 17 of 20
Price: Skimming pricing strategy will be used, by this way it will be able to gain attention
of mass audience towards forever young product. By this way it would be able to retain
consumers hence sales target will be met.
Place: Beauty giant will take assistance of sales support channels; this would help in
reaching to end users immediately. It will use direct distribution strategy to reach to
direct consumers. This would be better to know more about potential buyer and offering
them satisfactory services.
Promotion : Promotion will be done through promotional campaigns and social media.
Both these tactics will give positive result to the firm and will help in attracting
consumers towards its forever young product (Piñeiro-Otero and Martínez-Rolán, 2016).
Hence number of customer of the firm will be increased.
People: company will give sufficient leaves to its workers and will give them working
hour flexibility that would make them loyal and they will work hard in the firm to satisfy
the consumers.
Physical evidence: Its logo and tag line would be eye catching hence consumers will like
to buy this cosmetic products which will raise sale of the firm.
Process: Consumers complains would be its USB and it will be resolved soon so that
retention of customers can be increased.
Segmentation, positioning, targeting
Segmentation, Targeting, and Position, in segmentation groups of the buyers are divided
as per the range which will determine the characteristics of the market.
Segmentation:
In the company the segmentation strategy will be used as demographic segmentation
which will help the Beauty Giant in considering the age and gender factors in which the product
for the male and female will be designed as per the similar taste. Forever is the anti-aging
product hence demographic segmentation will give best result to Beauty Giant, by this way it
will be able to reach to right consumers. This would help in targeting people on their gender
bases which would help in knowing more about their needs and meeting their requirements.
Positioning
In positioning the Beauty Giant will apply cost positioning in which various factors such
as the competitors, pricing of the product, quality of product will be considered in order to win
16814 Page 17 of 20
Marketing Esentials Business
over the competitors for forever young product. Cost positioning strategy will be sued by the
business because it would help in meeting the revenue target of beauty Giant.
Targeting
In the targeting the company will be using the differentiation targeting strategy which
will benefit the Beauty Giant by differentiating the company from the other businesses in order
to do analysis where the company is lacking. It will differentiate the needs of buyers and
according to their specific needs people will be target (Uncles, 2018).
Budget
Criteria Cost (In Pound)
Marketing expenses 5000
Rent 2000
Salaries 6000
Total 13000
.
Monitoring and controlling
In monitoring the annual reports of the company will be seen and the variation which is
there will be rectified and in controlling feedback of the customers will be taken after the selling
of the product Forever young at the initial time so quickly the changes if required in the product
can be made (Zimmerman and Blythe, 2017). Taking feedback from consumers will be better for
the organisation in knowing the success of the product otherwise company can stop selling this
product or can make changes in its marketing plan. In order to control over entire planning, it
will consider sales revenue sheet. It will ensure whether sales is increasing or not and if there is
negative results then company will make changes in plan so that sales target can be met.
CONCLUSION
As per the study it is concluded that marketing is very important for a business and
without marketing a business is like a tree without fruit. If firm is implementing the right
marketing plan, then it would be better for the success of firm. Hence enterprise will have to
16814 Page 18 of 20
over the competitors for forever young product. Cost positioning strategy will be sued by the
business because it would help in meeting the revenue target of beauty Giant.
Targeting
In the targeting the company will be using the differentiation targeting strategy which
will benefit the Beauty Giant by differentiating the company from the other businesses in order
to do analysis where the company is lacking. It will differentiate the needs of buyers and
according to their specific needs people will be target (Uncles, 2018).
Budget
Criteria Cost (In Pound)
Marketing expenses 5000
Rent 2000
Salaries 6000
Total 13000
.
Monitoring and controlling
In monitoring the annual reports of the company will be seen and the variation which is
there will be rectified and in controlling feedback of the customers will be taken after the selling
of the product Forever young at the initial time so quickly the changes if required in the product
can be made (Zimmerman and Blythe, 2017). Taking feedback from consumers will be better for
the organisation in knowing the success of the product otherwise company can stop selling this
product or can make changes in its marketing plan. In order to control over entire planning, it
will consider sales revenue sheet. It will ensure whether sales is increasing or not and if there is
negative results then company will make changes in plan so that sales target can be met.
CONCLUSION
As per the study it is concluded that marketing is very important for a business and
without marketing a business is like a tree without fruit. If firm is implementing the right
marketing plan, then it would be better for the success of firm. Hence enterprise will have to
16814 Page 18 of 20
Marketing Esentials Business
ensure of using correct price, promotion techniques so that it can attract more consumers and can
retain them in business. Companies are required to spend money for marketing activities, that
would give best result and will help business in increasing sales of business unit. Effective
marketing mix strategies always support in dealing with potential buyers significantly and
fulfilling their needs as well. If enterprise don’t concentrate on marketing, then it might get fail
to gain competitive advantage in the market. Marketing plan is helpful in promoting particular
product and enhancing awareness among all potential buyers.
16814 Page 19 of 20
ensure of using correct price, promotion techniques so that it can attract more consumers and can
retain them in business. Companies are required to spend money for marketing activities, that
would give best result and will help business in increasing sales of business unit. Effective
marketing mix strategies always support in dealing with potential buyers significantly and
fulfilling their needs as well. If enterprise don’t concentrate on marketing, then it might get fail
to gain competitive advantage in the market. Marketing plan is helpful in promoting particular
product and enhancing awareness among all potential buyers.
16814 Page 19 of 20
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REFERENCES
Akbar, F. and et.al., 2017. Niche marketing strategy framework for SMEs: A conceptual
framework.
Baker, M.A. and Magnini, V.P., 2016. The evolution of services marketing, hospitality
marketing and building the constituency model for hospitality marketing. International
Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
Gurtner, S., Spanjol, J. and Griffin, A., 2018. Leveraging Constraints for Innovation: New
Product Development Essentials from the PDMA. John Wiley & Sons.
Hair Jr, J.F. and et.al., 2015. Essentials of business research methods. Routledge.
Lane, P., 2016. Human resources marketing and recruiting: essentials of employer
branding. Handbook of Human Resources Management. pp.23-52.
Malhotra, N.K., 2015. Essentials of marketing research: A hands-on orientation. Essex: Pearson.
Medina, I.G., Coelho, P.M.F. and Bellido-Pérez, E., 2017. New trends in Marketing due to the
growth of Internet usage. Razón y Palabra. 21(98). pp.276-285.
Muralidharan, K. and Raval, N., 2017. Six Sigma marketing and productivity improvement. A
Quarterly Journal of the National Productivity Council. 58(1). pp.107-114.
Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice,
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Actions. In MBA (pp. 37-74). Springer, Cham.
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