Marketing Report: Marketing Strategies for Business Growth

This report provides a comprehensive analysis of marketing functions, roles, and responsibilities within the context of Coca-Cola and Beauty Giant. It explores key marketing concepts such as production, selling, marketing, and societal-marketing, emphasizing their importance in achieving business objectives. The report delves into the significance of marketing mix elements like product, price, place, promotion, people, process, and physical evidence, highlighting their application in launching a new product, 'Forever Young'. Furthermore, it examines the interrelationship between marketing and other organizational units, including production, human resources, and finance. The report also develops and evaluates a basic marketing plan, providing insights into strategic decision-making and the attainment of desired business outcomes. This analysis offers valuable insights into effective marketing strategies and their impact on business growth and development.

MARKETING
ESSENTIAL

Table of Contents
INTRODUCTION ..........................................................................................................................1
PART 1............................................................................................................................................1
P1 Key roles and responsibilities of the marketing functions......................................................1
P2. Roles and
responsibilities of marketing relate
to the wider organisational context.............................................................................................3
PART 2............................................................................................................................................4
P3. Importance of marketing mix to achieve business objective. ...............................................4
P4 Basic marketing plan for an organisation...............................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In fast and changing environment, marketing is defined as an important function for each
type of organisation as it support in promoting, selling goods and services produced (Baker, and
Magnini, 2016). In general, the concept of marketing is the arrangement of each task that are
performed by companies in order to explore, develop and provide the best service that aid to
satisfy actual needs of customer. It is management process for anticipating, identifying and
satisfying customer requirements profitably. Effective marketing help to identify the accurate
methods and techniques that help in expanding business and attract large number of customer. In
this report, for part 1 coca cola is and for part 2 beauty giant is taken to better understand the
importance of marketing.
The report covers, role of marketing and its connection with other unit and importance of
marketing mix to attain overall objective. Apart from this, authentic marketing plan is developed
and evaluated to attain the desired objective.
PART 1
P1 Key roles and responsibilities of the marketing functions.
In business context the action of companies that support in selling and promoting goods
and services which involves advertisement and research to attain the desired objective
(Marketing, 2019). It is the procedure that support business firms to develop values for customer
and create an effective relationship so that needs can be fulfilled and customer base can be
increased. Marketing is also refereed as social process that help companies and individual to
acquire their total needs and requirements by developing and exchanging values with other.
There are different marketing concepts that are crucial to understand so that suitable knowledge
could be gained about several fluctuations in market. Some of discussed below:
Production concepts: It is consider to be the oldest concept which was established in
1950s. At that time the entire concept of marketing was related with production of various goods
and offering the same to customer. The main ideology beside production concepts is that
company can gain profitability by increasing supply and reducing cost. Eventually it will also
improve customer base to the organisation as product would be supplied in proper manner on
their demands (Baker and Saren, 2016).
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Selling concepts: As the name suggest this concepts mainly related with selling process
by respective company. This is related with offering of different goods produced by companies
to targeted customer in particular marketplace. All sales dealing are consider the primary
objective rather than customer relationship.
Marketing concepts: The main purpose of this concept is to put customer preferences as
the main motive that further support companies to gain profitability. Company adopt different
policies that are focused to satisfy customer needs that assist to grow brand image at global level.
It applies the “sense-and-response” philosophy, that discuss that organisation must manufacture
correct products for all customers rather finding right customers for produced goods.
Societal-marketing concepts: This concepts means that companies focus on delivering
best product to entire society that provide different benefits in improving the standard of living.
It is observed that this marketing approach tends to bring balance within the pursuit of business
profit related with customer desire and fits society best interest.
From the above discussed marketing concept, it is crucial for coca cola to adopt the
concepts of societal-marketing and marketing that help to get immense success in future by
selling more product to large number of customer.
Roles and responsibilities of marketing department
In present business scenario, there are number of roles and responsibilities of marketing
department that helps companies to attain their desired goals and objective. Some are explained
within the context of coca cola:
Developing effective strategies: The main crucial role of marketing is to develop and set
the best strategies for Coca coal that help in expanding business and delivering existing goods in
market. In addition the marketing function are also responsible for positioning actual strategies
adoptive by with other policies and aim of coca cola. Marketing also aid company to reach pre
defined goals in effective manner and attain the desired goals and gain success.
Market research: The other crucial responsibility of marketing is to analyse, conduct
proper research of current market that aid to ascertain actual trends, taste and preference of
customer as well as market gap. Marketing department of coca coal use to execute appropriate
research in best manner that aid to get total opportunities available in market. This help to
expand existing product portfolio and develop brand value that serve well in current market. As
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per this role of marketing it assist in processing proper products which are in according to market
and aid respective firm to gain competitive advantages (Stahlberg and Maila, 2013).
Brand management: In coca coal marketing department is also held responsible to
create and monitor brands that are important to sustain long in competitive market. Furthermore,
the company uses various innovation in brand image and bring modifications in communication
that also help to increase brand value in present market situations.
Information system: As respective company have global brand image hence it is vital to
have advanced and appropriate information software. Marketing department have major role in
creating essential system that help company to record necessary information from different
sources in order to make proper future plans.
All the above mention roles and responsibilities of marketing function helps Coca cola to attain
the possible opportunities in market so that goals can be set and develop useful business
operation in order to attain the desired objective and survive for long in competitive
environment.
P2. Roles and
responsibilities of marketing relate
to the wider organisational context.
The marketing have different roles and responsibilities such as increasing revenues,
extending market share and main important contribute to the overall growth and profitability
within an organisation. It is also observed that marketing is a wider concept that relates with
other functional unit of company to provide suitable profitability in a specific time frame. Thus,
there is crucial interrelationship with other departments that are defined below:
Marketing and production: As production unit of Coca coal use to produce variety of
soft drink in a particular period. On the other side marketing department use to analyse the
current trends and demand of market and develop process, methods and effective techniques that
support production department to produce drinks in large quantity according to collected
information. Thus it is very important that production and marketing work altogether in order to
increase sales figure and satisfy maximum number of consumer by delivering suitable drinks.
Marketing and Human resources: In business context, HR department plays an
important role in the success as they hire best professional and skilled employees that help to
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increase overall productivity. In coca cola the HR manager is responsible to manage the
available resources in best way that help to grow profit and attain success. In addition, marketing
unit help to acquire talented, competent and skilled human resources within organisation by
publishing appropriate job description in market. More important, human resources and
marketing have two-way relationship (Purvis, 2015). For example, human resource department
aid marketing unit to perform more effective function such as by recruiting marketing personnels
and managers within company.
Marketing and finance: Main role of finance department is to manage the available
fund and control expenses in order to increase profitability. In context of coca cola finance
department use to consider each aspect and components related with inflows and outflows cash.
There is a correlated relationship between finance and marketing department such as marketing
activity requires annual budgets in order to promote and expand business in market so finance
department use to prepare accurate budgets mainly focusing to reduce cost in every operations.
Thus it is stated that all these function are closely related with each other that work in proper
manner to provide almost advantage to respective company. Therefore it is essential for these
units to properly work in a single organisation, such as to make valuable decision to increase the
overall performance, productivity and profitability.
PART 2
P3. Importance of marketing mix to achieve business objective.
Overview of company
Beauty giant is one the leading cosmetic selling company in UK that have almost 50
branch within country. The company basically sell women and men toiletries from different
renounced brands. Recently company is planning to launch new anti ageing cream named
'Forever young' that will be first of its kind that will target almost 30 market.
In business context, marketing mix is defined an important tool that help company to
attain their business objective in proper manner. It is also termed as combination of different
actions, strategies or methods that is implemented to promote goods in market that aid to gain
competitive advantage. Thus there are various components that are essential that are needed to be
considered in order to increase appropriate marketing strategies. Important elements are people,
process, physical evidence, price, product, place and promotion. So, each aspect of marketing
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mix are important for company in producing and providing best product to right customer in
right place.
A basic marketing plan for the new product ‘Forever Young’ and use all the elements of 7ps to
achieve business objective of Beauty Giant (Papasolomou and Melanthiou, 2012).
Product: Products are referred to goods or services offered to target market. Forever young is
the new product which the organisation wants to launch in the market by using strategies as well
as various integrated tool sets of blogging, websites, search engine optimisation, and other
leading intelligence tools. Effective product strategy helps in entire product life cycle by
successfully developing as well as adjusting necessary steps in order to target audiences for
achieving business objectives of Beauty Giant.
Price: Price refers to the amount which the customers will exchange for receiving offerings.
There are many techniques to price the product. The selected business objective is to attract
maximum clients towards the new product. They can adopt strategies related to economy pricing,
premium pricing, skimming pricing, penetrating pricing and many more to improve its
manufacturing as well as efficiency in order to perceive the value of customers towards prices.
As per the situations, marketers can adopt pricing strategies to price its new product.
Place: Place can be defined as activities performed to make availability of product to target
clients. It includes the mechanism or channel in order to move the product from manufacturer or
Beauty Giant to its end consumer. The selected business should make available Forever young at
right time and at right place as and when demanded.
Promotion: It is a technique to encourage consumers to select organisational product rather than
competitors product. Selected company can use branding, special offers, public relations,
advertising, personal selling and many more promotional techniques to communicate relevant
information to its targeted customers related to Forever Young . Using effective promotional
technique will help in promoting the product as well as receiving feedbacks related to customer
perception towards the product.
People: They plays an important aspect in delivering products along with influencing perception
of buyers. They are the individuals who supports selected business to earn a sustainable growth
and development. The business has various personnels who perform different functions for
selling the product. Proper training and development programs are provided to them to leave an
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profound effect on customers while delivering selected business products (Nirschl and Steinberg,
2018).
Process: In involves flow of activities, procedures where product or services are delivered to
actual consumer. The process of producing the Forever young is hidden from its clients as they
do not want general public to know the beauty products added while preparing the final product.
It also involves the procedure adopted to effectively provide clients the product at right time and
right place. It is related to dealing with customers and company through out the process.
Physical evidence: They are also known as material evidence which acts as proof of delivery.
The most important aspect of this element is its branding strategies as well as packaging styles.
The selected business has adopted flexible strategies and attractive packaging styles which
provides all details related to the product in elaborate format. Distinct features of Forever young
packaging and its product design helps the company to make a sustainable position in the
competitive market.
P4 Basic marketing plan for an organisation.
In business scenario, marketing plan is defined as the entire process that focuses on
effective strategies that help business firm to communicate product and services to large number
of customer to attract in order to increase sales. The marketing plan helps companies to expand
new product in market that are prepared as per the current trends in market. As Beauty Giant is
planning to introduce new ageing cream in existing market named forever young in large market.
So management use to prepare authentic marketing plan that includes various aspects to be
consider by respective firm that support to increase product value and help to gain success.
 Vision: The company have the vision to inspire respective individuals by giving great
work environment and provide valuable cosmetic goods to customer. Moreover, another
spectacular vision of Beauty vision is to assist assorted sustainable communities that are
linked with Corporate Social Responsibilities (Nirschl and Steinberg, 2018).
 Mission: The company have main mission to launch new ageing cream and target at over
30 markets. Management also wants their company to gain competitive advantages and
create value for first ever manufacture product. The wants their customer to be happy and
apply this cream that will make them remain young for a specific time.
 Strategies objective:
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In the context Beauty giant there are different objective that are required to attain the
desired goal that is to launch new cream in market. Some of strategies objective are defined
below:
1. The company is planning to introduced a wide social media portfolio by which they have
future plans to increase the social media tariff by approx 40% in the next few months.
2. Company have plan to published video adds on YouTube, Facebook and other webpages
that help in promoting new cream well in market and target to increase viewership by
25% at the end of 6 months.
 Product description: Forever young is totally a new product that beauty giant is
planning to introduced in upcoming time within specific marketplace (Khan and Adil,
2013). This will help company to produced any product for the very first time and
experience the manufacture process. As the name suggest this particular cream will help
customer to look young and remove the wrinkles from face. As company is producing
such an interesting product they have the fear that customer would like there product or
not so they implements best methods to produce cream and reduce the possible future
problems.
 Market research: It is one of the most important element of business as company would
use market research to evaluate the current needs of customer and determine the present
trends in market. This help to create product accordingly that will satisfy customer
requirement in order to increase overall profitability. There are two major sources of
market research that are consider in product development that are defined below:
Primary research: With the help of this method companies are able ascertain customer
preferences in respect to the new product launched by beauty giant. In order to attain this, online
surveys and questionnaires has been utilized to examine the wants and requirements of
customers in respect to skin tone, health issues, colour shades etc. that will support in developing
anti ageing cream appropriately.
Secondary research: According to this research method company are more helpful in
introducing new product well in market. Secondary research are used in respect to determine
befitting method and techniques that are used by beauty giant while manufacturing Forever
young. In addition to this, it is also implemented by respective company to ascertain the most
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prominent methods in order to promote and market the following product in specific
marketplace.
 STP approach:
Segmentation is the method by which company divide the market for its products into
different segment (Clow and James, 2014). Like the segmentation refer to divide the market into
a group of members which share similar characteristic and common need for a product. Beauty
giant segment the market for all individual irrespective of their gender. By launching its forever
young cream company approach that with their single product approach in market with one
product suits all.
In segmentation management of beauty giant include demographic, geographic, psycho graphic
and behavioural factors. It help to company to compile and combine various activities for its
forever beauty cream.
Targeting is the second method by which company select the market under which large
number of customer are attracted by the company product. Beauty giant target the customer for
its cream by analysing that youth are curious to safe their skin. For this management decide to
target youth with its cream. As this sector increase profits for beauty giant and the size of
cosmetic market is increasing on day to day bases specific by the youth generation.
Positioning is the last step of the STP process. With the positioning company provide
reasons that why its product is better rather than its rivals. For the positioning of Forever young
management of beauty giant execute a unique selling proposition in its cream. With this cream
beauty giant decided to position this cream for all segment of the market and specifically for the
individual who are between the age of 20 to 40. As this individual expand more on beauty
products.
 Marketing Budget:
It is also consider to be an effective part of marketing plan that is related to costs. It is
defined as the estimated cost that is actually required by the company in order to promote
relevant goods and services. It basically involves each kind of promotional cost such as public
relation events, advertising and other expenses that are essentials for marketing. The crucial
marketing budgets for Beauty giant that are required while introducing Forever young in
marketplace
MARKETING BUDGET
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PARTICULARS I Year II Year III Year IV Year V Year
Initial money 4000 8400 13500 13860 17640
Investment 11500 12000 26840 31500 15470
TOTAL 15500 20400 40340 45360 33110
MARKETING OUTLAY
Promotion 6450 2950 4150 3420 3330
Sales publicity 2500 1900 3500 2000 1000
Direct selling 3800 1500 5000 2900 5600
TOTAL 12750 6350 12650 8320 9930
CONCLUSION
From the above report it is concluded that marketing is consider to be an effective tool
that help an organisation to expand business and grow profitability in specific time period. There
are different crucial roles and responsibilities of marketing department that help companies to
perform the various business operation in best suitable manner to attain the desired goals.
Marketing function is further related to each other that help to increase productivity, manage
funds that further helpful in achieving of overall objective in particular time frame. With in help
of proper marketing plan companies are able to introduced new product in market and expand
business.
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REFERENCES
Books and Journals:
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..
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Clow, K. E. and James, K. E., 2014. The marketing research process. Essentials of marketing
research: Putting research into practice, pp.25-61.
Khan, M. N. and Adil, M., 2013. Data analysis techniques in service quality literature: Essentials
and advances. Serbian Journal of Management, 8(1), pp.95-112.
Nirschl, M. and Steinberg, L., 2018. Einstieg in das Influencer Marketing. Grundlagen,
Strategien und Erfolgsfaktoren. Wiesbaden: Springer Fachmedien.
Nirschl, M. and Steinberg, L., 2018. Einstieg in das Influencer Marketing. Grundlagen,
Strategien und Erfolgsfaktoren. Wiesbaden: Springer Fachmedien.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management, 18(3), pp.319-328.
Purvis, J., 2015. Human resources marketing and recruiting: Essentials of digital
recruiting. Handbook of Human Resources Management, pp.1-19.
Stahlberg, M. and Maila, V., 2013. Multichannel Marketing Ecosystems: Creating Connected
Customer Experiences. Kogan Page Ltd.
Online
Marketing. 2019. [Online] Available through: <https://www.marketingteacher.com/what-is-
marketing-2/>.
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