UNIT 2. Marketing Essentials Assignment

UNIT 2
Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
PART - 1..........................................................................................................................................3
Marketing concept......................................................................................................................3
Roles and responsibilities of marketing functions......................................................................3
Interrelationship between marketing and other functional units.................................................4
PART - 2..........................................................................................................................................6
Comparison in the way which different organizations apply marketing mix.............................6
Strategic marketing plan for the new product ‘Forever Young’.................................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing refers to promotion of goods and services to a target market. Therefore, it
includes commercialization, research, development of existing products and to create better
relationships with customers. It brings innovative products which gives firms a competitive edge.
Therefore, the present assignment is based on Beauty Giant. It is online cosmetics selling retailer
in UK. They have 50 branches in total and usually they are engaged in sell of women and men
toiletries and cosmetic products.
The project report will define the role of marketing functional units of an organization.
Then, the assignment will showcase the interrelationship between marketing and other functional
units of firm. Report will cover comparison of different organizations by applying marking mix.
Furthermore, it will develop a marketing plan for the organization. Lastly, it will provide
conclusion.
PART - 1
Marketing concept
Marketing aims at satisfying customers needs through using various promotional tactics
whereas marketing concept is basically a philosophy that determines customers needs and to
make further decisions to satisfy those demands. It focuses on building healthy relations with
customers. It involves branding, positioning and segmentation.
Roles and responsibilities of marketing functions
Roles
Defining and managing brand :- This is the primary role of marketing functions is to defining
about the company's brand and it is necessary for managing brand for the Beauty Giant so that
more customers are attracted towards it (Banerjee, 2017). They must have experience to handle
the condition in the market as this is also an important role for Beauty giant company's
marketing manager.
Promotional activities :- Organizing promotional activities helps in increasing sales as well as
profit for future. These activities helps in updating consumer regarding availability of product in
the market. Through this more customers take interest in the products of Beauty giant company.
Managing social media :- It is also important to manage social media by advertising product
through this source of communication. Beauty giant is providing product that provide young age

to the customers. This will also help in managing products and services. It is the role of
marketing functions that will help in increasing sales of the company.
Conducting research :- Research will help in getting knowledge about the marketplace. It also
helps in defining various aspects through which Beauty giant can attract more customers towards
the company. It is the primary role that will help in getting involved in the market activities that
will enhance growth in the marketplace.
Internal communication :- It is important that communication takes place in an easy way
between the employees of Beauty Giant. It increases value, priorities and goals of the company.
Communication helps in gaining more knowledge about the market as interaction with people
will enhance growth in the marketplace.
Responsibilities
Setting marketing strategy :- It is the most important responsibility of marketing function is to
make strategy before running business in the marketplace (Karjaluoto, Mustonen and
Ulkuniemi, 2015). Strategy will help Beauty Giant company to increase its market share.
Strategy is related to the planning that will be more effective for the company. It is important to
make strategies for the company so that it will achieve success in the future.
Team Support :- It is important that every employee in Beauty giant is helpful and managing all
the work as a team. It is essential to work in a team for selling product and services in the
marketplace. They must ensure that high quality advertisement is being shown to the customers
for better sales in the future.
Organizing seminars and workshops :- Marketing function of Beauty giant is responsible for
organizing seminars and workshops so that more customers get knowledge about the product that
is present in the market (Hempelmann and Engelen, 2015). It also attracts people from outside
that will increasing profit for future.
Marketing Research :- Research will help in getting knowledge about the market condition so it
is very important to do it. This help in attracting more customers towards it. It is also
responsibility of marketing function to get more knowledge and enhance growth for future.
Interrelationship between marketing and other functional units
Marketing act as the backbone for the Beauty Giant in order to increase their sales . It
doesn't only helpful in increasing the sales of the organization but also supports various

functional departments too (Blythe and Martin, 2019). Thus, the interrelationship between
marketing and other functional units of business are discussed below -
Human resource department
Marketing function is interlinked with human resource department of Beauty Giant. The
marketing department informs finance section that they need skill number of manpower for
doing marketing activities (Chaffey and Ellis-Chadwick, 2019). Thus, Human resource
department hire top talent by conducting interview round they select appropriate candidate for
the vacant job. As marketing section requires skill level of workforce who are capable enough to
think creative in order to bring innovative products in the market. This leads to maximise
customer satisfaction in the company.
Production department
Production department of company manufacturer's innovative products which gives
competitive edge to the firm. Marketing department of Beauty Giant do deep market research for
analysing the current demand and trends of the customers. In order to satisfy customers needs it
is essential to fulfil their desires (Tuten and Solomon, 2017). Thus, the production department
manufacture the products in accordance to data which is gather during market research.
Marketing department informs the production department about current taste and preferences of
consumers. This leads to increase the sales of Beauty Giant and eventually firm will achieve
higher profitability.
Finance department
Finance department controls budget of the firm. Marketing department conduct
promotional activities. They do advertisement of Beauty Giant products through publishing
articles in newspapers and by telecasting advertisement on television. Advertisement generally
occurs high costs (De Mooij, 2018). Thus, the finance department provide sufficient amount of
funds that meet the marketing departments requirements. The finance section prepares budget for
marketing section. As marketing department run various promotional campaigns, this also
requires huge amount of finance. For conducting marketing research and analysing current
marketing trend there is need of money so they contact to finance department.
Information technology
Information technology is interlinked with the marketing department of Beauty Giant.
As marketers use various internet websites to gather the data of market research and on basis of

that they come up with innovation. Customers also use company's official websites and portals
to interact about the products of the company. They give feedback on regular basis which
marketers read to do further improvement in their existing products (Baker, 2016). For doing
promotion of their products they are using social media platform as people are highly active on
social media channels. They can easily attract large number of customers through these channels.
This leads to increase the sales of the firm and helpful in achieving greater profitability.
PART - 2
Comparison in the way which different organizations apply marketing mix
Marketing mix refers to combination of various factors that influence the purchasing
behaviours of customers in positive manner. This consist of 7ps namely, Product, Price, Place,
Promotion, People, Physical evidence and Process. Comparison is done on the basis of marketing
mix between Beauty Giant and L'Oréal -
Basis of comparison Beauty Giant L'Oréal
Product Beauty Giant products are the
cosmetics. They usually sells
women and men toiletries from
various popular brands.
L'Oréal has wide portfolio of
renowned brands. The company deals
in cosmetics, health care products and
medi- spas. They have diversified
range of products in cosmetics.
Price Price of products are less in
comparison to their competitors.
As firm is new to the market they
sell their products in less price in
order to take competitive
advantage (De Mooij, 2018).
The company products prices are
affordable as customers feels they are
getting superior quality of products at
considerably less price. Customers are
ready to pay at premium price as
L'Oréal supply its high quality
products at competitively less price
than their competitors such as MAC
and Maybelline.
Place Beauty Giant has virtual
existence. They sell their
products online at global level.
L'Oréal supply its products in 130
countries in five continents. It has
global presence. The company's

Firm has 50 branches all over the
UK.
professional products are available in
salons, cosmetics and brand outlets.
Promotion The company do advertisement
of their products through using
Google ads. There advertisement
comes between the web page on
various websites as the customers
troll them. They also do
advertisement on various social
media channels as users are
highly active on this channel
(Kotler, Keller, Ang, Tan and
Leong, 2018). Thus, the
company can easily attract large
number of customer through such
platforms.
The firm do promotion of their
products through tie up with top
models and celebrities such as
Jennifer Lopez and Cheryl. The
company prefer to do television and
digital advertisement. They also
publish their articles in magazines and
newspapers (Marketing Strategy in
Cosmetic Industry A Comparative
Study between Benefit Cosmetics and
Revlon, 2019).
People Beauty Giant mainly focused on
young fashioned people who
prefer cosmetics. There beauty
products mainly concentrate on
young women.
People of the L'Oréal are the young
women, top models, and fashion
followers..
Physical evidence The company has online
existence and as physical
evidence they give description of
their products on their online
website.
The L'Oréal gives demonstration of
their products in order to give idea to
customers how it is being used. At the
time of online advertising they used
top models in their videos who
efficiently portray their products in
front of people.
Process Beauty Giant do deep marketing
research for producing suitable
L'Oréal process includes effectively
promotion of their products in a

products for their customers. To
satisfy the customers demand it is
necessary to analysis the current
demand of consumers.
planned budget. This leads to increase
the sales of company's products. The
support of the media help them to
clear their views to the stakeholders
and the staff.
Strategic marketing plan for the new product ‘Forever Young’
Marketing plan
Executive Summary – The marketing plan reflects the current innovation of the Beauty Giant.
The company has introduced a new anti - aging product called “Forever Young” . The company
believes that product is first of its kind. The product has targeted 30 markets. The Plan includes
7ps of marketing mix. It has indicated STP for newly launched product (Kotler, Bowen,
Makens and Baloglu, 2017). SWOT analysis is being done to identify current opportunities
and threats for the company. The Plan has also define the overall budget for this innovation.
Mission – Beauty Giant mission is to offer best cosmetics to all the women and men at global
level. Through meeting the needs of beauties.
Vision – The Vision statement of Beauty Giant believes that everyone aspire beauty. There
vision relay on bringing new products in the market for taking competitive advantage.
Objective – The objective of Beauty Giant is to introduced a new product in the market which
is the “Forever Young”. This product has anti - aging substance that aspire beauty. This is
specially made for the young women.
Marketing Mix for new innovation
 Product - Beauty Giant is introducing the new cosmetic product named as “Forever
Young”. This product will serve the needs of Young women. This is ultimate choice for
consumers who uses or wants to try an anti – aging product.
 Price – Price of “Forever Young” product is less in comparison to their competitors. As
firm is new to the market they sell their products in less price in order to take
competitive advantage.
 Place – The company will sell their new product online at their official website by

targeting 30 markets all over the UK.
 Promotion - The Beauty Giant will do advertisement of their newly launched product
which is Forever Young” through using Google ads. There advertisement comes
between the web page on various websites as the customers troll them they got attracted
towards their product (Lovelock and Patterson, 2015). They also do advertisement on
various social media channels as customers are highly active on this platform. Thus, the
company will attract large number of customer through these platforms.
 People - Beauty Giant mainly focused on young people who will prefer anti – aging
product. There new innovation mainly concentrate on young women.
 Physical evidence – The Beauty Giant will give demonstration of their “Forever Young”
product in order to give sample to customers how it is being used.
 Process - Process of “Forever Young” product includes effective promotional
activities to attract large number of customers. This leads to increase the sales of
company's newly launched product.
SWOT Analysis
Strengths
 The Beauty Giant has high quality products as they supply products of renowned brands
through their online website. There motive is to offer best to the customers (De Mooij,
2019).
 The company is in growing stage despite there is high competition in cosmetic industry.
There products are popular among UK people.
 They do high – end advertisement that accommodate the culture of targeted audience.
 They are running operations in 50 branches all over the UK.
Weaknesses
 Beauty Giant doesn't have their own product. They only supply products of other
reputed brands viva online channels.
 The are restricted to UK. They didn't launch their products in emerging countries.
 There brand doesn't have so much of popularity among people. Customers are still
unaware about company.
Opportunities
 Beauty Giant can expand their business in emerging countries as customers are

demanding ageing products.
 The company can grab opportunity through introducing diversified product range in
cosmetics.
Threats
 The Company has threat from existing competitive brands such as MAC, Bobbi Brown
and L'Oréal.
 There is threat of economic downturn to Beauty Giant.
STP
Its is the important part of the marketing plan as it provides the information to the organization
which is needed about the consumer and about the market where is a products is to be offered.
Following will be the segmentation, targeting and positioning strategy of Beauty Giant for its
new product Forever Young:
Segmentation : Proper segmentation of the market is vital for the success for the company.
Dividing the market in to smaller segments with various needs, behaviours or characteristics is
vital for the organisation as it will help the company to identify the customer's needs and
preferences. Beauty Giant should divide the market on the basis of gender and age of the
customers which will help the company to target the market easily.
Targeting : When company has successfully segmented the market in groups as per their needs
and preferences then in next step it should target the customers (Pyo, 2015). In order to target
the customer's Beauty Giant should formulate the strategies for how to target the customer and
company should go for differentiated marketing by targeting male and female customer within
the age group of 18 to 45.
Positioning : In this stage Beauty Giant has to position its products in the minds of their
potential customers within the chosen markets. It is the one of the most important aspects of
marketing strategy and Beauty Giant can position its products within the minds of potential
customers through the means of effective communication. One of the best way to position the
products is through advertisements and company should adopt aggressive marketing strategy to
promote its products within UK. This can be done by using social media marketing and digital
marketing which is the best way of providing information to customers in current scenario to
position a product within the minds of potential customers.

Budget
Budget refers to estimated cost that will require to introduced new product which is “forever
young''. It helps to elaborate various costs and expenditures that will occur at the time of
introducing new product of Beauty Giant.
Budget plan
Expenditures Total Cost in (£)
Cost of raw materials
Machinery and equipments
Promotional cost
Advertisement cost
Miscellaneous expenses
Salary
Wages
£25 million
£100 million
£10 million
£15 million
£ 5 million
£12 million
£10 million
Evaluation and Control
The company will regularly asked for feedbacks from their customers on their official website.
The Marketing department will further make improvements in “Forever young” product by
considering those feedbacks (Blythe and Martin, 2019). They will do regular research and
identify current marketing trends to meet customer demand on timely basis. This leads company
towards higher profitability.

CONCLUSION
It has been concluded from above project report that Marketing aims at satisfying
customers needs through using various promotional tactics whereas marketing concept is
basically a philosophy that determines customers needs and make further decisions to satisfy
those demands. It has been summarized that Organisation promotional activities helps to
increase the sales as well as profit for the future. These activities helps in updating consumer
regarding availability of product in the market.
It has been determined that Beauty Giant do promotion of their products through
publishing articles in newspapers and by telecasting advertisement on television. This leads to
increase the sales of the company. It has been summarized that Advertisement generally occurs
high costs. Thus, the finance department provide sufficient amount of funds that meets the
marketing department requirements. It has been determined from Swot analysis that Beauty
Giant can expand their business in emerging countries as customers are demanding ageing
products.

REFERENCES
Books and Journals
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Banerjee, S.B., 2017. Corporate environmentalism and the greening of strategic marketing:
Implications for marketing theory and practice. In Greener Marketing (pp. 16-40).
Routledge.
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
De Mooij, M., 2019. Consumer behavior and culture: Consequences for global marketing and
advertising. SAGE Publications Limited.
Hempelmann, F. and Engelen, A., 2015. Integration of finance with marketing and R & D in new
product development: The role of project stage. Journal of Product Innovation
Management.32(4). pp.636-654.
Karjaluoto, H., Mustonen, N. and Ulkuniemi, P., 2015. The role of digital channels in industrial
marketing communications. Journal of Business & Industrial Marketing.30(6). pp.703-
710.
Kotler, P., Bowen, J.T., Makens, J. and Baloglu, S., 2017. Marketing for hospitality and tourism.
Kotler, P., Keller, K.L., Ang, S.H., Tan, C.T. and Leong, S.M., 2018. Marketing management: an
Asian perspective. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Pyo, S., 2015. Integrating tourist market segmentation, targeting, and positioning using
association rules. Information Technology & Tourism. 15(3). pp.253-281.
Tuten, T.L. and Solomon, M.R., 2017. Social media marketing. Sage.
Online
Marketing Strategy in Cosmetic Industry A Comparative Study between Benefit Cosmetics and
Revlon. 2019. [Online]. Available through
<https://www.bestassignmentexperts.com/samples/marketing-strategy-in-cosmetic-
industry>