This report evaluates the implementation of marketing mix across different organizations. It analyzes the strategies used by Shiseido and Estee Lauder in terms of product, place, price, promotion, physical evidence, and process.
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Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY...................................................................................................................................3 TASK 1............................................................................................................................................3 P1 Marketing functions and its roles & responsibilities.............................................................3 P2 Interrelation between the other operational units and the marketing function of the organisation.................................................................................................................................5 TASK 2...........................................................................................................................................7 P3 Evaluation of implementation of Marketing Mix across different organisations..................7 TASK 3..........................................................................................................................................10 P4 Marketing Plan of the Organisation.....................................................................................10 CONCLUSION.............................................................................................................................14 REFRENCES.................................................................................................................................15 Books and Journal.....................................................................................................................15
INTRODUCTION Marketing is an promotional tool used by diversified organisations in order to reach their their potential customers. This tool can be considered as an effective tool which persuade the customers for an immediate purchase. The company mainly focuses on the implementation of strategies which can enhance the awareness about their products and services in the external environment. For this the priority for the company is to define their targeted customer group in order to attract them towards their new offerings in the industry. In this context the company focuses on developing effective marketing mix which involves the traditional and modern forms. The traditional forms includes the 4P's while the modern mix includes the additional 3P's. The 7P's are; place, product, price, people, promotion, physical evidence and process. For pursuing this report we are taking the Shiseido company to explain the marketing concepts.Shiseido company is one of the oldest cosmetic organisation across the worldwide. The company was founded in 1872 and headquartered in Tokyo, Japan(Akbar, Wadood and Tasmin, 2017). The company is ranked as the fifth largest company in the world as the personal care company. The company have diversified its operations in skin care, hair care, fragrance producer and cosmetics. This report will focus on the strategies of the company to sustain their leading position in the industry. Furthermore, it involves the marketing mix analysis of the Shiseido. Lastly, there will be development of basic marketing plan of Shiseido for attracting te customers worldwide. MAIN BODY TASK 1 P1 Marketing functions and its roles & responsibilities. Marketing function can be defined as the development of strategies for enhancing the customer base of the company. The organisation attempts to perceive large customer base by recruiting effective marketing staff in order to build competitive image for the company. There arenumerousfunctionsperformedbyShiseidoinordertosustaintheirpositioninthe competitive industry. Since the company produces personal care products and convincing customers regarding this seems to be a difficult task for them. So for this the company adopts diversified effective strategies in order to build their strong customer base(Bhosale and Phadtare, 2019). The company applies various motivational methods for their workforce to attain their goals and objectives. The marketing function is performed by the marketing department and
the manager effectively to achieve the high performance for the company. The roles and responsibilities are explained underneath:Listening to Customer Needs:Customers are the main target for the organisation. As they operates in order to serve them effectively. For this the research department analyses the current trends in the industry which are being followed by the customer. Then the company manufactures the products accordingly and the role of the marketing manager is to reach the customer with the products and convince them.Shiseido adopts various internal and external channels of marketing which will be collaborated in their workings. These promotional channels create and enhance the awareness of the new and existing products of the company(Choi, Ludwig and Harris, 2020). The internal methods used by Shiseido is survey which creates an direct connection with the customers. On the other hand the external channels devised by Shiseido is implementation of social media networks in order to gain maximum followers of their brand.Track Trends and Monitor Competition:This role of the marketing function involves the monitoring of the trends by the company. This will help in providing a base idea to the company about the new innovative product development. The marketing team of Shiseido attempts to analyse the strategies of their competitors in order to keep them a step ahead of them. This will help the company in introducing new products with effective features for their customers. After monitoring their competitors, Shiseido will be able to identify their weakness and try to eliminate them in the near future. This will enhance their opportunities in the industry and will increase their market share. The marketing manager adopts various strategies in order to sustain in the competitive market for longer duration.Brand Recognition:The brand works in the complex situation and deals with difficult challenges for selling their products in order to enhance their recognition. If the company will be able to create awareness about their products worldwide then they will get the advantage of large loyal customer base(Cluley, 2018). Shiseido attempts to enhance their brand recognition by maintaining and improvising the quality of their products. For this the company aims at introducing the innovative products in the market on a regular basis to sustain and enhance the level of customer engagement. This will help them company to compete their competitors effectively through their goal oriented approach.
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Monitoring and Managing Social Media:The social media is the image of the company in front of the customers. In the current scenario of digitalisation, Shiseido focuses on developing effective social image across the worldwide. For this the company publishes the information of their products on the company's website and social media platforms. This is the way which attracts and enhance the customer engagement which will enhance their market share. Also, the company can introduce various discounts which will attract potentialcustomerstowardstheirofferings(Crutchfield,2017).Advertisingisan effective way used by Shiseido which will help them enhancing the awareness of their product across the globe. Searching new tools to introduce innovation:The most important role of the marketing is collaborating the feature of innovation in the operations and the working environment of the company. This willhelp the company in maintaining their competitive image which will attract the customers towards their brand. Shiseido produces and offers the products that ensure the safety with innovative feature to the customers. This will enhance the trust and commitment of the customers on the brand and their products. Ultimately, this will improve their position in the industry and will create an effective image of the company in the minds of the customers. Hence, these are the roles and responsibilities that are considered in the marketing function which elevates the position of the company and enhances their customer base in the external environment. Also, this will increase the sales, revenue and profitability of the company in the complex environment of the industry. P2Interrelationbetweentheotheroperationalunitsandthemarketingfunctionofthe organisation. Marketing function is an essential tool that is performed by the company in their working environment. As the duty of the marketing manager involves the creation and enhancement of the recognition of their products across the globe(Dzyabura and Yoganarasimhan, 2018). Shiseido focuses on developing the strategies which will introduce their manufactured products to the customers in such a way that they make an immediate purchase decision. For this the company needs to collaborate the functions of the marketing with other departments of the company in order to attain their goals and objectives. The relationship between the marketing
function and the other operational units in respect with the selected company can be explained as follows:Marketing and Finance:The finance department operates for maang8ing the funds and allocating them effectively to enhance the wealth and profitability of the company. Shiseido recruits the financial professionals that will balance the funds in each operations effectively. The marketing department of the company informs the finance department abouttherequirementoffundsforthepromotionalstrategies.Whilethefinance department of Shiseido prepares the budget for the marketing professionals in order to gain success in near future(Fill and Turnbull, 2019). The marketing professionals analyses the market and inform the finance department about the investment prospects in other field areas. The marketing professional of Shiseido follows the budget provided by the finance department in order to ensure cooperation between them.Marketing and R & D:The research professional of the company focuses on analysing the market study results effectively. This will help the company in manufacturing the products according to the customers preference in order to sustain their customer base in the external environment. Also, the marketing professionals uses the research data to target the segmented audience which will enhance the profitability and level of sales of the company. Shiseido performs the qualitative research methods by targeting the desires and expectations of the customers from their brand. They company provides the personal care products to their customers and ensuring the best quality is their main purpose.Marketing and HR:The role of the human resource department is to fill the vacant position in Shiseido with effective employees. Whenever there is an need arise for enhancing the workforce in the marketing department, the HRD employs effective personnels in the company(Folinas and Fotiadis, 2017). This will help in attaining the goals of the company fast as they have more employees who work with the purpose for extracting large customer base for the company. Shiseido have developed their product qualitiesbyrecruitingtheemployeeshavinginnovativethinkingwhichcanbe collaborated with the manufacturing function of the products. This will help them company in launching high quality products in the industry.MarketingandOperations:Themarketingdepartmentprovidestheknowledge regardingthestockrequirementforthetargetedcustomerstothemanufacturing
department. And according to that the operations will be carried out. The manufacturing department of Shiseido aims at processing the amounts of products that are sufficient for thetargetedaudienceofthecompany.Thenthemarketingdepartmentperforms promotional strategies in order to attract the new customers towards the company. The marketing department of Shiseido retains their customer base by effectively using diversified promotional techniques. Marketing and IT:The IT departments works with new technologies in order to introduce effective software for the company. These software will help the workforce to carry out their operations smoothly. The IT professional collaborate their workings with themarketingdepartmentofShiseidoforreachingtheirtargetedmarket.These professionals handle the social media platforms of Shiseido and provides effective answers of the feedback posted by the customers(Hassan and Sharma, 2018). The negative feedback is communicated by the IT professionals to the marketing department so that they will work on improving their strategies for reaching the customers. Hence, the marketing department of the company support other operational units of the company. This will help the company in making potential implementation of the resources, skills and knowledge of the workforce towards the attainment of the organisational goals. The marketing functions of the company provides support to other operational departments of the company. TASK 2 P3 Evaluation of implementation of Marketing Mix across different organisations. Marketing mix can be defined as the combination of 7P's of the marketing which are implemented towards the goals achievement of the company. Shiseido uses the marketing mix in order to provide guidelines for placing the products of their brand at the right place, in the right time(MK, 2017). This is essential for planning the activities of the marketing department for their goal attainment. BASISSHISEIDOESTEE LAUDER ProductShiseidoisthefifthlargest cosmetic company worldwide. The company deals in personal Estee Lauder deals in make-up productsworldwide.The company is headquartered in
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care, fragrance, skin care and cosmetics. Also, the company owns numerous brands across the globe(Nguyen, 2019). The productsofthecompanyis available in selected stores and pharmacist. America. The company offers prestigeskincare,haircare, make-upandfragrance products. The company offers diversifiedbrandedproducts digitally and in physical form. PlaceThecompanyhasits headquarter Tokyo, Japan. The companysellstheirproduct worldwidewhichhave established their position as a leading brand. Thecompanyhasits headquarter in New York, US. In1960,thecompanyhave startedexpandingtheir businessoperations worldwide. PriceThecompanyhaveachieved their growth level. Shiseido is emphasizingoncompetitive pricingstrategyinwhich slightly variation in pricing of their products will effect the competitors in worst way. Thecompanyiscurrently focusingonaffordability pricing methods which helps inenhancementofthe customerbase.Thiswill sustain their profitability and increase their growth prospects in near future. PromotionShiseidoimplementssocial mediamarketingstrategyin order to promote their product worldwide. This is an effective strategy which helps them in ensuringcontinuousgrowth and high performance. Esteelauderhavethe advantageofaffordability pricing which have created and enhanced their loyal customer base(Pasma,2017).Inthe externalenvironment,the companyisdesigningthe effectiveadvertisements campaignswhichwillhelp
them in enhancing their sales and revenues. Physical EvidenceThecompanyhaveadopted innovativepackaging techniques which have helped them in attracting large base of customers.Thecompany investsheavilyinthe packaging. Thecompanymaintain effectivequalityintheir productswhichhaveattracts their targeted audience most. Thecompanydidnotspend toomuchonthephysical appearanceoftheirproduct rather than they focus on the qualityandaffordability factors. ProcessShiseido have enhanced their businessoperationsand promotionsinonlineform. With this the company is able to position their products in the internationalmarket effectively(Purcăreaand Purcărea, 2017). Estee lauder have focused on introducing innovation in their productiontechniqueswhich willreducetheiroperational cost.Ultimatelythiswill reduce the overall pricing of the product for the customer. PeopleShiseidohaveeffective workforcewhichhasthe qualitiesofinnovationand productivity. This will help the companyingainingleading position in the market. Estee Lauder focuses on the implementing strategies which willhelptheworkforcein attainingthegoalsofthe company(Niesen, Harvey and and Sons Co, 2017). This will alsoenhancethecustomer engagement towards the brand byadoptingeffective strategies.
TASK 3 P4 Marketing Plan of the Organisation. Marketing plan can be defined as the process performed by the marketing manager of the company in order to carry out the marketing goals of the company effectively. For this the company aims at devising promotional strategies which will sustain their productivity and profitability level. Also, the company will be able to attract potential customers easily. Although, the marketing plan is formed by the marketing manager but it is approved by the top authorities of the company (Raval, 2018). The marketing manager aims at developing a plan which can be collaborated with the mission and vision of the company. The marketing manager also monitor and control the activities of the marketing plan in an synchronised form. The marketing plan providesinformationaboutthetargetmarketandwaystoenhancetheircustomerbase effectively. Objective of the company The objective of Shiseido is to produce innovative products in order to enhance the boundaries of their operations. Also, the company focus on delivering value added products to their customers by actively contributing in their happiness by supplying unique products. Mission of the company The mission of Shiseido is “ To add beauty innovation in their operations by offering products that will keep the mind and body of the people healthy.” Vision of the company The vision of the company is “ To become the most successful leader across the globe by offering value added and effectivequality products range to their potentialand existing customers.” STP Approach of the company This approach is used by many organisation across the globe. Shiseido uses this approach for transforming their product centric approach to the customer centric approach. STP includes three factors namely; segmentation, targeting and positioning(Silchenko and Askegaard, 2020). This approach is used by the company in order to understand whom they are trying to reach and
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how they can reach their targeted audience. In relation with Shiseido, the STP approach can be explained as follows: Segmentation:The company segments their targeted audience in order to serve them effectively and efficiently. Shiseido targets the female customers the most as they deal in personal care products and make up products. The company segments their targeted audience on the basis of demographic and geographic factors. In demographic factors the company segments the targets audience on the basis of age group. For customers having the age group between 18 to 40 years, the company produces different products(Slootweg and Rowson, 2018). For the customers having the age group between 40 to 55 years the company develops anti-ageing products. On the basis of the geographical segments, Shiseido segments the target audience like the Indian customers want the products that will suit their climate. Targeting:In this stage the company identify and measure the segment size. Shiseido then develops strategies which will help them in perceiving the potential customers for their brand. The company try to utilise the opportunity in their favour for building their leading position in the industry. For this Shiseido targets the customer journey and make use of the customer preference in order to develop engaging marketing campaigns. The company also focuses on the accessibility of the market segment in order to implement effective strategies on them. Positioning:In this stage the company tries to fulfil the expectations of the customers. Shiseido implements certain customer segmentation models for enhancing the awareness of their marketing campaign. This will help the company in developing the unique selling point which will deliver their right message to the customers(Steenkamp, 2017). The USP of the Shiseido is that they sell their unique product Eudermine. Also, the company positions their products in such a way that they are accessible to their targeted audience. SWOT Analysis of Shiseido The SWOT analysis is performed in order to analyse the internal environment of Shiseido. The company faces many challenges in the industry and how the company can manage it by utilising their opportunities and strengths at the right place in the right time. These strengths can be used to attain the goals of the company effectively. The SWOT analysis of the above mentioned company can be explained as follows:
StrengthsWeaknesses Thecompanyhavestrongfreecash flowthathelptoexpandtheir operations in new projects. Thecompanyhasreliablesuppliers which establishes effective relationship of the customers with their brand. The company has strong portfolio of productsthathaveelevatedtheir positionasaleadingbrandinthe industry(TaghipourianandBakhsh, 2017). The company have attrition rate due to which their spending on the workforce have enhanced. The technology ground of the company is weak and for that they need to do investments. The company have limitedscope of successoutsidetheircorebusiness which have created a major challenge for the company. OpportunitiesThreats The market development strategy can enhance the competitiveness level of thecompanyascomparetotheir competitors. The new environmentalpolicieswill enhancethemarketshareofthe company. Newcustomersthoroughonline platform will enhance their sales and revenues in the complex situations. The buying behaviour of the customer can be considered as the threat for the company. Irregularityinthesupplyofthe innovative products will reduce their customer base. Thegrowingstrengthsofthelocal distributors can impact the margins of the company. Marketing budget Particulars1styear2ndyear3rdyear4thyear Investment110002000065005000 Initial money11000700055005000
Total22000270001200010000 Marketing outlay 15000200030005000 Sales publicity 2200100010001000 Direct selling4800350010001000 Promotion5000150050002000 Total270008000100009000 Monitoring and Controlling This is the last stage of the marketing plan of the company. In this stage, Shiseido focuses on monitoring the impact of the implementation of the marketing plan on the consumer behaviour. This stage will measure the success rate of the plan in the external environment. With the help of this, the company will be able to control the discrepancies in their plan and can eliminate them timely. Shiseido uses many monitoring and controlling techniques for achieving their goals and objectives(Uchino, 2018). For this the company have developed their work breakdown structure in order to utilise their marketing plan in the right direction. The marketing manager of Shiseido aims at sustaining their competitive edge by analysing the strategies and products offered by their competitors. This will help them in developing an effective plan for future mission and vision of the company.
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CONCLUSION From the above report it can be concluded that marketing is considered to be an complex task which is performed by the professional effectively. This report provides an understanding about the various roles and responsibilities performed by the marketing professionals. This will help the company in delivering value added products to their targeted group of customers. Furthermore, the company aims at building their leading position in new markets by diversifying their operations across the globe. This report also involves the marketing mic of the mentioned company and the diffusion of the marketing function with other organisational units. Also, there is an marketing plan designed for the mentioned company in order to attain their objectives. The marketing plan focuses on the analysis of the internal environment of the company with highlighting their objectives, mission and vision statement. The marketing function of the company also, collaborates the initiatives of the workforce in relation with the promotional activities. The marketing professional analyses the trends prevailing in the industry which helps them in understanding the buying behaviour of the customers precisely.
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