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UNIT 2. Marketing Essentials Assignment

   

Added on  2021-02-20

13 Pages3869 Words86 Views
UNIT 2Marketing Essentials

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

INTRODUCTIONMarketing refers to promotion of goods and services to a target market. Therefore, itincludes commercialization, research, development of existing products and to create betterrelationships 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 retailerin UK. They have 50 branches in total and usually they are engaged in sell of women and mentoiletries 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 functionalunits 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 provideconclusion.PART - 1Marketing conceptMarketing aims at satisfying customers needs through using various promotional tacticswhereas marketing concept is basically a philosophy that determines customers needs and tomake further decisions to satisfy those demands. It focuses on building healthy relations withcustomers. It involves branding, positioning and segmentation. Roles and responsibilities of marketing functionsRolesDefining and managing brand :- This is the primary role of marketing functions is to definingabout the company's brand and it is necessary for managing brand for the Beauty Giant so thatmore customers are attracted towards it (Banerjee, 2017). They must have experience to handlethe condition in the market as this is also an important role for Beauty giant company'smarketing manager. Promotional activities :- Organizing promotional activitieshelps in increasing sales as well asprofit for future. These activities helps in updating consumer regarding availability of product inthe 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 productthrough 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 ofmarketing functions that will help in increasing sales of the company. Conducting research :- Research will help in getting knowledge about the marketplace. It alsohelps in defining various aspects through which Beauty giant can attract more customers towardsthe company. It is the primary role that will help in getting involved in the market activities thatwill enhance growth in the marketplace. Internal communication :- It is important that communication takes place in an easy waybetween 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 peoplewill enhance growth in the marketplace.Responsibilities Setting marketing strategy :- It is the most important responsibility of marketing function is tomake strategy before running business in the marketplace (Karjaluoto, Mustonen andUlkuniemi, 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 tomake 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 allthe work as a team. It is essential to work in a team for selling product and services in themarketplace. They must ensure that high quality advertisement is being shown to the customersfor better sales in the future. Organizing seminars and workshops :- Marketing function of Beauty giant is responsible fororganizing seminars and workshops so that more customers get knowledge about the product thatis present in the market (Hempelmann and Engelen, 2015). It also attracts people from outsidethat will increasing profit for future.Marketing Research :- Research will help in getting knowledge about the market condition so itis very important to do it. This help in attracting more customers towards it. It is alsoresponsibility of marketing function to get more knowledge and enhance growth for future.Interrelationship between marketing and other functional unitsMarketing act as the backbone for the Beauty Giant in order to increase their sales . Itdoesn't only helpful in increasing the sales of the organization but also supports various

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