Marketing Essentials For Beauty Giant
Added on 2020-10-22
14 Pages3785 Words488 Views
MARKETING ESSENTIALS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1Role of marketing and key elements of marketing functions......................................................1PART 2............................................................................................................................................5Marketing mix and strategic marketing plan...............................................................................5CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing is the systematic process that aids business in identifying needs of consumers andcreating value for potential buyers (O'Cass and Morrish, 2016). It is essential tool that supportscompanies to develop healthy relationship with customers and retaining them in organsiation forlonger duration. Present study is based on Beauty Giant that sells cosmetics products to clients.Entity has approx 50 branches all over the UK. Enterprise has planned to market its new anti-ageing product “forever young”. Current assignment will explain role of marketing with widerorganisational context. Furthermore, it will explain interrelationship between marketing otherfunctional units. In addition, study will conduct marketing mix and will prepare strategicmarketing plan so that Beauty Giant can market its new product successfully.PART 1Role of marketing and key elements of marketing functionsMarketing can be defined as set of activities for communicating, exchanging value forconsumers. It is considered as management process that company’s apply to make people awarewith new products and it’s significant for them. In the earlier times most of the business weretaking support of print media and advertisement method in order to promote their items. Butnow-a-days social media marketing concepts have changed scenario and has createdopportunities for organisation to deal with mass audience and expand their operations across theworld (Wrenn and Mansfield, 2014). Recently Facebook, Twitter, online websites are helpful inmaking direct coordination with potential buyers and offering them goods and services as per theneeds of clients. Marketing is the significant tool that plays various role in business unit. Theseare explained as below:Market research: marketing plays role of researcher in business unit, it conducts researchand find out needs of consumers. Beauty Giant plans to market its new forever-youngproducts but for that it has to find out actual requirements and desires of target audience.If entity has all relevant details then it would be able to offer right products to rightconsumers. Through marketing Beauty Giant can gain all insight information related tomarket and can make plan to promote its goods and services (Chand, 2015).Relationship builder: Marketing is helpful process that supports manager in makinghealthy relationship with buyers. Companies develops direct coordination with its clientsthrough communication channels. It aids business in identifying their needs and resolving1
their problems quickly. Marketing supports Beauty Giant in developing strong bondingwith its target customers so that they buy this new anti- ageing forever young beautyproducts and give reviews to others as well (Davcik and Sharma, 2016).Branding: Marketing is the best option for promoting the brand. Most of the people buyproducts of such companies that have strong marketing tactics. In order to enhance brandimage and create unique reputation companies are required to market their products.Through implementing this strategy, Beauty Giant would be able to raise its marketimage and will be able to expand its business across the world.Communicator: It is another role of marketing; it helps in raising communicationbetween customer and organisation (Fortier and Laws, 2014). Beauty Giant needs toexchange information with consumers about its new forever-young products, throughmarketing firm will be able to successfully exchange the details and would be able toreceive their comments as well. This is two-way communication that assists business inidentifying needs of target audience.Key elements of marketing functionMarketing manager is responsible for promoting products and increasing sales ofparticular items. Designing and development is essential function of marketing. This isconsidered as key element. As before launching this new forever product in market Beauty Giantis required to gather necessary information about demands and needs of buyers. This helpsbusiness in designing and developing the existing products in such manner that can meet with thedesires of customers (Qureshi, Aziz and Mian, 2017). Product distribution is another mainfunction of marketing, Beauty Giant will have to distribute its new anti- ageing beauty item tovarious locations but for that, it will have to develop its new image in that market. Throughsocial sites, etc it will be able to distribute this new products in the new market and will be ableto attract more consumers towards brand.2
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