Marketing Strategy Report: Beauty Giant's 'Forever Young' Product

This report provides a comprehensive analysis of the marketing strategies employed by Beauty Giant, a cosmetic company with a focus on their new anti-aging product, 'Forever Young'. The report begins by outlining the roles and responsibilities of the marketing function, including market information gathering, product development, application of the marketing mix (7Ps), strategic marketing plan assessment, tracking market trends, and client consultation. The report then explores the interrelationship between marketing and other functional units within the organization, such as operations, finance, and human resources. Furthermore, the report compares how Beauty Giant applies the marketing mix and how its competitors do the same. Finally, the report culminates in the development and evaluation of a marketing plan specifically designed for Beauty Giant, emphasizing strategies to enhance its customer base and market share. The report covers the company's marketing environment, the importance of understanding customer needs, and the impact of competition, innovation, and strategic planning. This is a valuable resource for students studying marketing and business strategy, offering insights into real-world applications and practical recommendations for business success.

MARKETING ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P 1 Explain the roles and responsibilities of the marketing function..........................................1
P 2 The roles and responsibilities of marketing relate to the wider business context and
interrelationship between marketing and other functional units of the organisation..................4
LO 2.................................................................................................................................................7
P 3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.......................................................7
P 4 Produce and evaluate a basic marketing plan for Beauty Giant.........................................10
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Success of any business somewhere depends on successful marketing. Marketing include
advertising, promotion, public relation and sales. It is refer to a process by which services or
products introduced and promoted to target customers (Baker, 2016). Beauty Giant Company is
dealing on cosmetic products with 50 branches all over the UK. Usually, they sell men and
women toiletries from various world renounced brands. They have made a good name in the
market & also trying to launch their new anti-ageing Product called ‘Forever Young’ which they
believe is first of its kind. The study consist marketing strategy of Beauty Giant for its first own
produced product. This research will analyse roles and responsibilities of marketing function and
will describe how these relate to the organisational context. With that it will also give a brief
knowledge about how Beauty Giant use the marketing mix and how its competitor. The report
will develop a marketing plan for Beauty Giant which is helpful for emphasizes different
strategies to increase customer base.
LO 1
P 1 Explain the roles and responsibilities of the marketing function
Following are the various key roles & responsibilities of marketing functions of the
beauty-giant company:
Gathering & Analysis Market Information:
It is an important function of marketing. At the initial stage, The Beauty Giant Company
makes efforts to understand following ways such as: what do the customer want, at what price, in
what quantity in order to achieve the objective of maximum selling by launching new product
(Chernev, 2015). The Beauty Giant is determining the various market information by segmenting
of targeted customers according to their needs & demand of the product with the purpose of
focusing on particular age group.
Product Designing & Development:
The Innovation & Creativity plays a vital role for every organisation to research &
development of new products with new tactics. The Beauty Giant Company should be focusing
on standardisation & grading which consisting the activities regarding size, quality, weight,
colour, fragrance & material is to be used, according to the natural climate & temperature of
certain region. In this way, selling is possible on the basis of a special design affords a cosmetic
company to meet with competitive significance.
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Applying Principles of Marketing mix:
The marketing mix refers the set of marketing tools that the Beauty-Giant company uses
to pursue its marketing objectives in the target market. The basic principles of marketing mix
consist 7 Ps such as: product, price place, promotion, people, packaging, & positioning of the
product. Packaging includes labelling branding whereas promotional activities are focusing on
advertising, personal selling, publicity, Sales promotion by allotting discount on launching new
anti-ageing product. Apart from this the company should also determine transportation,
Inventory control, storage & warehousing or an order processing activities(Davis, 2017).
Assessment of Strategic Marketing Plans & Evaluation of Budget:
The most cost- effective strategies are those which planned for the long term aspects.
Thus, the Beauty Giant Company must draft & framing objectives to be achieve by the proper
planning with appropriate budget. Under such stage the marketeers chalks out their marketing
plans of a particular product as well as trying to capture the market ratio by raising their sells in
the market. The process of production and level of promotion efforts will also involve the steps
such as: who will do what, when & how is to be execute, this is known as marketing planning.
While performing a various marketing functions, it should be determine about flexible budget
which can be adjusting through effective & efficient ways or stretching activities by the proper
fundamental planning or assessment.
Tracking Trends & Analysis Market Competition:
It is important to knowing about the position of the new product in context of market
scenario or to be assess it's available market competitors. At the competitive stage every
company is trying to perform better than others (De Mooij, 2018). Hence, there's a need to learn
what the Beauty Giant company do the best or to identify their mistakes in order to avoid falling
into them. The company should taking corrective action by analysis customer's needs & demand
by tracking market trends according to the test, preference & habits of targeted customers.
Client Consultation & Follow Up Action:
The Beauty-Giant company includes make-up, personal care products, toiletry, fragrance
& grooming items for both men & women. Thus, it should be providing support to their clients
to ensure their satisfaction & facilitate future sales is an essential part to enhance & growing their
sales. The Customer is the king of market so the Beauty-Giant should also consider over the
Customer support services to getting feedback & follow up by their potential customers.
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These services include after sales service, handling customer's complaints & queries,
credit facilities, technical services etc. Helping the customers in this way offers them satisfaction
& this activity encourage a customer's interest to a particular product.
M 1
Marketing environment is the combination of internal and external factors and forces
which affect the organisation's ability to establish a relationship and serve its consumer. External
marketing environment consist of factor affecting product development, promotion and
distribution like customer, competitors, supplier (Huang and Sarigöllü, 2014). Macro marketing
environment include economic, technological and social cultural environment. Marketing
manager of Beauty Giant Company responsible for monitoring the business environment so that
company can adopt the required change as soon as possible like marketing team give formation
to manager about technological changes that can help in increase the customer buying experience
(Jindal and et.al., 2018). Marketing environment most crucial and important work is to counter
the competitor's policy and strategy for this Beauty Giant Company marketing team keep its eyes
on its rivalries objective, pricing policies, strength and weakness so that they can grab the
potential opportunity and counter the current movement of competitors. Best and most suitable
logistic option is opted by company after receive advice form marketing team. Team give this
advice after deep research on physical evidence need, place preference , nature of product. For
instance for Forever Young marketing team suggest opting fewer intermediaries' involvement
because it will increase the price of product which is against the product objective, because
company want to give reasonable priced cream to customer.
Understand the customer need and tapping trend also done with the help of marketing function.
Young Forever is brought by company after know the expectation and need of customer from a
fresh anti ageing cream because there are so many creams already available in market. Marketing
manager also suggest innovation and value addition advice to company based upon there market
experience which can help company to increase its market share and grab competitor advantages
like marketing team opt hot runner technology which offer double walled cream container also
give optical effect to cream. This technology used to give premium look to cream.
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P 2 The roles and responsibilities of marketing relate to the wider business context and
interrelationship between marketing and other functional units of the organisation
Marketing is a very complex. There are many types of marketing functions like; buying,
selling, planning, marketing information, storing, transportation, risk taking and standardization
& grades. These functions are very famous and common in a company. These are included
marketing research analyse, development process, sales, promotion, customers, finance, product
and services plan and so on. In marketing programs many roles and responsibilities of the firm
business. These programs are very responsible for the build up their business.
The marketing functions are some special information collecting and analysis process in
the company. These unique informations are exited for the process units. These units have been
provided to the effectiveness of research in giving information at the right location for the right
time to right decision. The Beauty Giant company will use roles and responsibilities of
marketing for their business (McDonald and Wilson, 2016). This company has been selling
cosmetic products for their customers. Beauty Giant company should have expanded their
organization in different countries. They will increase their products quantities and gain
customers demands. The company will make a good strategy for their business expand and
growth. They could be use new trends and new developments in their marketing functions. There
are use for roles and responsibilities include listening to customer needs, track trends and
monitor competition, innovate, define strategic marketing plans etc. These roles and
responsibilities are help for their organization success and build up.
 Listening to customer needs
The company should have listened to customer needs then selling products and services
for their needs and demands according. Beauty Giant company will want to good feed back from
their customers. The company should have created surveys or gather information from their sales
team. They have support to their closest customers. The company could be make strategies for
redirecting marketing in the future. Beauty Giant company will create surveys and collect the
information for their customers needs and demands. They can generate new ideas, how many
products and services want to customers their needs accordingly. The company will provide ads
and promotion on internet. They can create action in internet that help to good understand the
requires and demands of customers.
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 Track trends and monitor competition
The company should have created new development and innovation for their growth.
Beauty Giant company will sell forever young product for female customers. So customers have
moistly like these products. The company will sell these products' foe young women like 30 plus.
They will be taken an action for new trends and innovation. Beauty Giant company will full
focuses on their female customers needs and demands. Because females have like most of new
styles, deigns and new trends, they will be attract on these products. Females will want good
looking and very beautiful so they will use these products. The company will create new ideas'
for come into their customers growth.
 Innovate
The company should have been surprised for their customers needs. They will provide high offer
for their customers. The customers want to good quality of products and services and pay to
minimum price on good offer. So Beauty Giant company should have work on new promotion in
their marketing department. They will create new development and innovation for new trends
come into their business. The company will want to customer attraction and interest in their
products. They could take action for new techniques and improvement in their business. The
organization will make new policies and new strategies for their innovation. Beauty Giant
company should have expanded their business in other company so they will want to full
customer interaction and attraction for their products and services.
 Define strategic marketing plans
The company should have created a good strategic for their business growth. They will make
many strategies for effective cost. They could be planned for the long time. Beauty Giant
company will make strategies for achieve the business goals and objectives. The company will
want to maximum profits and income earn (McDonald and Wilson, 2016). The company will be
taken an action for their market target, competition and strengths of the business. Additionally,
these strategies plans will be alignment between strategic plan of the organization and with
another departments plans and objectives.
M 2
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The interrelationship between marketing, finance, human resource and operation management
functions:
 Operation Management
The marketing section will need to work with manufacturing department. The company will
survey and research planned for their present and future costumer needs and demands. Beauty
Giant company will item manufactured to the good quality and special design for their female
customers. They want to high production generating by marketing , so they will be meet with
time schedule needed for transfer. It is important for interrelationship between all departments.
The company will analyse or gather information from their sales team. Thus, operation
management department will produce products to customers needs and requires according.
 Finance Management
The marketing department will also need to work with finance management. There are involves
budgets, cost, cash flow, investment and so on. It is accurate budget to meet the demands for
survey, distribution and promotion. Beauty Giant company will want to all departments to work
with their assign account budgets. The finance department will want to more than profits and
income earn. The company marketing section is full focused ion their sales production and
company market share, so finance department will more than concentrated on covering costs,
cash flow and paying investment as speedily as achievable.
 Human Resource Management
The marketing section will need to work with human resource management. There are involves
appropriate skills and knowledge and employees levels. The company will use new ideas for
products research and development. They will meet with production targets in the market. The
Beauty Giant company should have created new competent and an ambitious sales team for their
products selling. The human resource department will have different training and recruitment
needs from across the business. Beauty Giant company will make balance and its responsibilities
to marketing with their another departments.
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LO 2
P 3 Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives
Marketing mix is a combination of various factors that can be controlled by an
organisation to influence customers to purchase its products. Thus the marketing mix refers to
seven broad level of marketing decisions. This can be use by the company to pursue its
marketing objective. Different company have different way of using marketing mix in their
organisation depends on the target consumer and on the products. By following comparison
chart, Beauty Giant's marketing mix analysed with Olay's marketing mix. As Beauty Giant is
launching their own produced product for the very first time, it is important to learn about the
already exist company's marketing strategy. And apply the 7Ps to achieve the overall marketing
objective.
Price- This refers to the pricing strategy using by any organisation on their products and
services that will affect the consumer. An organisation should identify how much their consumer
are ready to pay, profit margin and method of payment.
Product- Products refers to what a company is selling, including advantages, benefits and all the
features that the consumer can enjoy from purchasing your products or services.
Place- Place refers to where the products are seen and sold. An organisation can use
different tactics to set themselves apart from the competition.
Promotion- These are the promotional strategy or activity use by the organisation to
aware customers of the products and services. It include sales tactics, advertising and direct
marketing.
People- People refers to the employees and staffs who work with particular company. It
also include the customer services provided to the consumer. It is important to recruit the right
people, develop their skills by giving training to them and retaining good staff for give
competitive advantage.
Process- It refers to the process of delivering the products and services to the consumer. It
is important to maintain the same standard, increase efficiency by save time and money.
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Physical Evidence- Physical evidence means everything customer see when interacting
with the organisation. It include- packaging, branding, layout or interior design, physical
environment where the products and services are provided.
Marketing Mix Beauty Giant Olay
Price The company is concern with
effective implementation of
pricing strategy. The product
consist moderate prices that
can be afford by all the
females.
They focused on not to be
overpriced like its competitors,
which is an effective strategy
for the company.
Olay have moderate to high
pricing of its products. They
set the anti-ageing range to a
bit higher price. They also
give seasonal discounts to
attract consumers.
Their payment system is
flexible according to the
consumer's preference, they
can pay online or in cash or by
cards.
Product Beauty Giant is basically
selling men and women
toiletries from various world
famous brands. They provide
services to the consumer to
buy skin care product of
different brand from its store.
It come up with its first own
produced product launch,
name as 'Forever Young',
witch is anti-ageing cream.
Olay is known for producing
skin care products from body
lotions to face creams.
But the main product of Olay
is its anti-ageing creams,
which include- new regenerist
micro sculpting range.
The range consist, anti-ageing
creams (day creams and night
creams), serums.
Place Beauty Giant plan the product
to serve at the exclusive store,
where only the produced
products are sold by the
Olay have exclusive
showrooms with doctors and
dermatologists. They sell their
products on various online
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company. They also planning
to set the online website for
their products that local
consumers or international
consumers can reach and able
to use the Forever Young.
shopping websites as well.
The availability strategy of the
olay products increase their
consumers and their loyalty.
Promotion Beauty Giant is advertise its
product Forever Young in
magazines and billboards. It is
also advertise on social media,
TV to aware the consumer.
The product is basically target
the women up to 30 years.
The product focus on chemical
composition (Posner, Williams
and Posner, 2015).
Olay Regenerist is sold
exclusively in Watson and SM
department stores and
advertise in all the magazines.
Also they promote its product
on social media, TV
advertisement, word of mouth
by its consumers,etc. They
invest a lot in promotion. Olay
also use the sale tactics in its
promotion strategy, as it offer
discounts, buy 1 get 1 free
offers.
People The Beauty Giant is offering
customer service attached to
its stores.
The people working in the
organisation include high
skilled employees and well
behaviour working staff.
Olay provide the excellent
service of customer care to its
consumer, which create
positive experience for the
consumer.
They present 30+ models in
their advertisement, which
attracts the female consumers.
Process The company deliver the same
standard of services to their
The process of deliver the
products and services is
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consumer as they deliver their
toiletries products.
smooth. The process is time
effective and cost effective as
well.
Physical Evidence It is already a famous store for
toiletries, the brand name is so
strong to attract consumers.
The packaging of products are
stylish and presentable also it
comes in variable quantity
sizes which is a plus point for
the company.
The exclusive showroom
design of Olay attracts the
consumer. With that the brand
have stamped in the women's
mind as anti-ageing brand.
This will influence the target
female consumer of above 30
years.
P 4 Produce and evaluate a basic marketing plan for Beauty Giant
The marketing plan of Beauty Giant help to execute the plan successfully according to
the mission and objective of the organisation (Marketing Planning (Overview), 2018). It is an
outline of company's planning.
Executive summary
Beauty Giant Company is dealing on cosmetic products with 50 branches all over the
UK. Usually, they sell men and women toiletries from various world renounced brands. They
have made a good name in the market & also trying to launch their new anti-ageing Product
called ‘Forever Young’ which they believe is first of its kind.
Mission, Vision And Objective
The marking is focuses on main target and mission. The company will make a good
strategic plan for achieve their goals and mission. It is very common and popular task in the
market. The beauty gaint company should have created goals for their customer needs and
demands. There are includes new products' development costs, market research costs, the cost of
staffing time. These strategies are all booked as present costs. The objectives are short time
achievement so the company will achieve the long term goals and missions. Beauty gaint
company should have mission and objectives set on monthly and weekly. They will want to good
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