Marketing Strategy Report: Analysis of 7Ps for Beauty Giant Cosmetics

This report provides a comprehensive analysis of marketing strategies, focusing on the 7Ps of marketing: product, price, place, promotion, people, process, and physical evidence. It begins with an introduction to marketing's role in an organization, emphasizing its importance in establishing customer relationships and driving sales. The report then delves into the 4Ps of marketing—product, price, placement, and promotion—detailing various strategies such as premium pricing, market penetration, extensive distribution, and advertising. The second part of the report applies these marketing principles to a case study involving Beauty Giant Cosmetics and its new anti-aging product, Forever Young. It evaluates how the 7Ps can be utilized to successfully launch the product, considering pricing strategies like profit margin and market penetration, promotional activities, and distribution channels. The report highlights the significance of understanding the target audience, managing processes, and providing physical evidence to enhance the product's market position and ensure long-term success.

MARKETING STRATEGY 1
Marketing strategy
Institution
Student name
Date

MARKETING STRATEGY 2
Table of Contents
Introduction.................................................................................................................................................2
Role of marketing........................................................................................................................................2
Product marketing.......................................................................................................................................3
Price marketing strategy..............................................................................................................................4
Premium pricing......................................................................................................................................4
Market penetration.................................................................................................................................4
Placement....................................................................................................................................................5
Extensive distribution..............................................................................................................................5
Showroom...............................................................................................................................................5
Promotion...................................................................................................................................................5
Advertisement.........................................................................................................................................5
Task 2..........................................................................................................................................................6
Price.............................................................................................................................................................7
Profit margin strategy..............................................................................................................................7
Market penetration strategy...................................................................................................................7
Premium pricing strategy........................................................................................................................7
Promotion...................................................................................................................................................8
Adverts strategy......................................................................................................................................8
Open air events strategy.........................................................................................................................8
Placement....................................................................................................................................................8
Intensive distribution...............................................................................................................................8
Strategic positioning and location...........................................................................................................9
Showrooms..............................................................................................................................................9
Product........................................................................................................................................................9
Practical application use strategy............................................................................................................9
Product branding strategy.......................................................................................................................9
Audience................................................................................................................................................10
People........................................................................................................................................................10
Process......................................................................................................................................................10
Physical evidence.......................................................................................................................................11

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Conclusion.................................................................................................................................................11
Reference..................................................................................................................................................11

MARKETING STRATEGY 4
Introduction
For an organization to do well in the market, adequate funding, proper management,
good economic state and a proper marketing strategy has to proceed. The
organizations operating inadequate funds, have proper management, applies the latest
and the most efficient production technology in a favorable economic state and has an
appropriate strategy of marketing has the likelihood of thriving well in the market.
However, massive financing alone without the other pillars has no capability of taking
the organization to the high heights in the market. Neither the technology nor the
favorable economy can alone manage the high level of business competency in the
industry.
Marketing is a strong pillar of an organization as far as getting the word out is
concerned. In this note, it makes sense to appreciate the fact that, producing the best
product under all sorts of favor may not make a difference to the producer if he doesn’t
get the word out in the proper manner (Baltes, 2015). The organization may have
differing favors in the production process, but they must scramble for the same possibly
small market available hence marketing is too important to be ignored.
Role of marketing
Marketing plays the role of establishing the relationship between the customers
and the organization’s product. The relationship gives the potential customers the
confidence to try the product in question rather than the product that enters the market
without any publication. This role makes marketing vital for both the profit and non-profit
making organization (Baltes, 2016).
In a profit-making organization, marketing plays the role of making more potential
customers aware of the product, thus increasing the volume of sales made per unit time
and hence the profit.
Marketing also plays a significant role in the branding of the organization and it is
achieved through participation in publicity creating activities like the advertisement,
customer’s interaction and feedback collection. Introducing a new brand in the market,

MARKETING STRATEGY 5
need a robust marketing strategy to convince the customers the ability of the product to
satisfy their given wants.
Similar to other factors affecting the organization, such as; low financing,
technology, and the economy, the market of the product affect the organization due to
the limited size of the market. The organization has therefore to install a competition
strategy that is obliviously implemented through a stable marketing formula. This implies
that marketing plays a role of curbing the fierce market competition (Olson, Slater, Hult,
& Olson, 2018).
Analysis and evaluation of marketing functions and how they interrelate
Marketing strategy encompasses four different strategies which form the marketing
backbone. This includes the price, product, promotion, and placement of the product.
Product marketing
The organization should know about the product in question more than anybody
else in the market. The management of the organization must ensure that the product it
has availed in the market has the capability of meeting the consumer needs. The
product that can satisfy the customers’ needs attracts a high number of customers as
the information on the effectiveness of the product spread (Dixon, Martinez, & Martin,
2015).
The customers are always right and meeting their demand is all the business
should be after. If the business provides what it thinks of being effective contrary to what
the consumers prefer, it is likely to fail. To this connection, the business must ensure a
proper product design packaging and branding to ensure it caught on the first look of
the product (Menon, Bharadwaj, Adidam, & Edison, 2015). Product marketing strategy
is connected to other approaches like the price strategy in the sense that the quality of
the product has a direct proportionality in the cost of production; hence the selling price
must also be affected. Other aspects such as branding and packaging also have to
affect the product cost hence the price marketing strategy.

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Retailing of the product rather than dealing with the market at wholesale only
boost the number of sales. Some customers are willing to buy a product, but they are
unable to buy it due to the high cost of the product reflected by the size at which the
product is offered in the market. Breaking the bulky will enhance the willing low social
class people to acquire the product at the prices they can afford. Some people will also
need just a small piece of the product regardless of their power to buy the product.
Breaking the bulky will, therefore, increase the organization's sales volume and hence
increasing the profit made out of it.
Price marketing strategy
Pricing of the product as a marketing strategy is very critical but effective in the
same note. When introducing or launching a new product in the market, the business is
likely to make little or even no profit at the very first stage. The profit margin will be
possibly zero and the cost of the product in the market may have no direct relationship
with the cost of production. There are several prices marketing strategy:
Premium pricing
This is a pricing marketing strategy that involves the introduction of the product in
the market at extremely high price (Ferrell, & LeClair, 2015). The perception of this to
customers is that the product is of extremely high quality and hence the cost. When the
management lowers this price, the customers scramble for it increases the volume of
sales exponentially.
Market penetration
The organization may opt to introduce the product in the market at a preferably
low price. The product will attract potential customers on the advantage of low cost. On
the gradual increase in the cost of the product, the customers who have developed a
taste for the product will remain loyal, and only a little drop in the volume of sales may
be experienced (Umar, Sasongko, & Aguzman, 2018).

MARKETING STRATEGY 7
Placement
The number of times an individual sees a product have the ability to attract his
attention and the purchase of the product. The organizations using this strategy ensure
that the potential customers see the product as many times as possible in a given
duration of time. This is attained through:
Extensive distribution
Selling the product in the area of production only is less effective as long as
marketing is concerned. The argument is only a small percentage of the community will
have interacted with the product; hence the low volume of buyers. Distributing the
product to various places increases the number of potential customers reached hence
the volume of sales (Varadarajan, 2015).
Showroom
Having your product in the showroom as much as possible increases the number
of potential customers who are aware of the existence of the product. This is an arena
that can be used to trap the customers.
Promotion
After launching a new product in the market, the organization next step is the
struggle on increasing the percentage of the community aware of the existence of the
product. Promotion is the most suitable strategy in this case. The management employs
product promotion through:
Advertisement
Advertisement of a product is mostly done through the audio, audio visual media
and the newspaper as well as the billboards. These media can get the word out to a
large number of people and hence creating massive awareness of the existence of the
product in the market (Rickard, Allee, Rincker, Gooding, Acheson, McKenna, & Carr,
2017). Consequently, it draws a large number of buyers of the product which stands to
benefit the organization. Events like the roadshow and giving of gifts in planned events
like athletics, football, and dancing creates a sense of belonging to the organization thus
attracting buyers of the product.

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Task 2
Beauty Giant cosmetics’ is a stable distributor, retailer as well as the marketing
agents of toiletries of the renowned brand but they don’t produce any of their own. This
suggests that, their marketing duty as at per the moment. The Beauty Giant is enjoying
the advantage of the well-established product in the market. The advantage of the big
product name probably due to the effectiveness of the product and the quality has
enabled the organization to establish 50 branches all over the United Kingdom state
(Palmatier, & Crecelius, 2019). Accounting on dealing with high-quality products Beauty
Giant cosmetics have established its name and have gained relevance in the market
completion on the toiletries for both men and women. This possibly suggests that
Beauty Giant have an added advantage when introducing a new product in the market
as compared to the enterprises entering the market for the first time.
This article is a report focusing on the 7Ps of marketing strategy developed and
evaluated by the marketing manager of the organization for getting the word out on
Forever Young which is a new product in Beauty Giant store targeting the percentage of
the population who are over thirty years. The product is believed to have an anti-aging
effect on an individual after application. Beauty Giant wants the Forever Young product
which is believed to be one of its kinds in terms of purpose and quality to gain
competence and be at the top of the market.
The 7Ps of marketing strategy are developed from the 4Ps of marketing strategy.
They include the price, promotion, product, place, process, people, and physical
evidence. All these strategies combined have the power to establish and maintain
healthy competition in the market. (Dangelico, & Vocalelli, 2017). Forever Young is a
unique product, when effectively introduced in the market; using these seven strategies,
combined with the benefit of an already well-formed name of Beauty Giant, it is likely to
occupy the highest rank in the market and it will not be easy for other similar or
competitive product to tarnish it easily in the future.

MARKETING STRATEGY 9
Price
Price is one of the most sensitive aspects of the product in the market. Beauty
Giant will, therefore, have to develop a strategy of pricing Forever Young in a manner
that will attract customers to purchase it only because of the favor of the price. This is
not necessarily to say Forever Young should sell at the lowest price in the market. The
following are some of the strategies related to the price that Beauty Giant should use for
Forever young.
Profit margin strategy
For the effectiveness of running the business, Beauty Giant may opt for this
strategy where the price of Forever Young is determined by the cost incurred to buy and
transport it from the supplier, the cost of the warehouse, taxes, the human resource
involve and the profit. The price is therefore likely to remain the same over the duration
unless a change in these aspects occurs.
Market penetration strategy
Beauty Giant may opt to introduce Forever Young in the market at a relatively
low price making little or even no profit. Overtime people will be attracted to the product
due to its favorable prices. Upon using it several times, the customers will develop taste
and preference (Cacciolatti, & Lee, 2016). The management later should increase the
price of the product gradually. Habitual customers will continue using the product, and
the stable price of the product will be reached when it already has a significant number
of customers.
Premium pricing strategy
People tend to assume that products of high price are of high quality and tend to
go for in large numbers. This is however in contrast to the fact. Beauty Giant can
employ this strategy and introduce Forever Young in the market at a relatively high
price. People will perceive it to be of high quality and on a later date lowering the price
they will take it as a favor and turn for it in large numbers (Kumar, Rahman, & Kazmi,
2016). This will promote the rate at which the product will sell over duration of time.

MARKETING STRATEGY 10
Promotion
Offering the best product in the market is not a guarantee of attracting the
highest volume of sales even when compared to your competitors who provide a similar
lower quality product at a higher price. However Forever Young is of its kind in the
market, it has to employ some of below strategies to increase awareness of the
existence of the product to the customers:
Adverts strategy
The population of the over 30s has a well-built relationship with the media. They
are either friendly to listening or the radio, watching television, reading the newspaper,
and he will likely pass and read from several billboards on his way to or from work.
Having the Forever Young picture, description of use and the advantages of using it will
help Beauty Giant get the word out and in large number. This will create awareness of
the product existence hence attracting a high sale.
Open air events strategy
Having an event hosted in the field or the roadshow brings people together.
Talking of the product in such events creates awareness of the product existence to the
present people. This should go in hand with airing the description of using the Forever
Young and its effectiveness where some few individuals are given samples as gifts.
Their friend will have an urge to get one also and buy it (Kiseleva, 2017).
Placement
The attention bought by a potential on seeing a product can lead to irrational
buying. Beauty Giant should take advantage of this scenario and apply it in the following
strategies to attract the sales for Forever Young:
Intensive distribution
Placing the product at many different places creates a room for interaction with
many different potential customers as compared to selling the product through a single
outlet. Beauty Giant should ensure Forever Young is available in all its fifty branches
across the United Kingdom. The higher the population of customers has seen the
product the higher the awareness of its existence and hence the purchases.

MARKETING STRATEGY 11
Strategic positioning and location
Forever Young should be placed at a position where everyone can see it as the first
thing on the entry in Beauty Giant. It should also have its photos and videos playing on
the screens in the malls to ease and increase the rate of it catching customer’s attention
(Hasan, & Ali, 2015).
Showrooms
Showrooms provide a pleasant environment for people to see a given product
use and advantages. Beauty Giant should have Forever Young as part of its product in
the showroom to buy people’s attention.
Product
Market driven by the product is probably the best that will ever exist. The
competition will be fair and no monopoly effects that will be experienced in the market.
The quality of the product determines the rate at which the customer will be attracted to
repurchase it after the first use. The product in the market has to prove its efficiency in
use. It should be easy to use and with little or no side effects. Beauty Giant can apply
the following strategy as long Forever Young is concerned (Hunt, 2018).
Practical application use strategy
People get confidence through tangible evidence. Beauty Giant should have an
attendant showing how the product is applied. He should have been applying the
product in the first place and have the photos of his looks before and after application.
Product branding strategy
Packaging and branding in the market can never be underestimated on the effect
they have on the customer’s behavior. Packing a similar product differently and different
containers will attract customers in different magnitude. The packaging of Forever
Young should be appealing as possible and fitted with a graphic on how one is likely to
look like after application. Appealing graphics and packaging will attract customers to
buy the product in both rational and irrational manner (Taoketao, Feng, Song, & Nie,
2018). The product package should be consistent for all quantities of the product in
terms of the shape of the container and the theme.

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Audience
Forever Young should have a clear indicator on the packet that it is supposed to
be used by individuals who are over thirty years regardless of being a male or a female.
Lack of a clear indication of the audience will repel potential customer since they are not
sure of the fitness of the product to them when they apply it.
People
The human resource in a business is supposed to strive to the betterment of the
organization. People are everywhere in the organization, and they include the lowest
employee to the highest ranking executive manager. Having the right people in the
business is vital for its success. The human resource employed in Beauty Giant should
have desirable management and sales skills and experience. The management must
ensure the employees have enough competencies in the field to ensure the business is
also competent. Beauty Giant should take the responsibility of training its employees on
the sales skills and customer’s interaction to improve its efficiency (Kasemsap, 2018).
Also, it can use a sales expert to promote the product in the external markets.
Process
Process refers to the services delivery of the person selling the product to the
customer. The mode at which the client is served is likely to stick on the mind of the
customer for a long duration. This will, therefore, determine whether he will have the
urge to visit Beauty Giant again or not. The salesperson should ensure proper care for
the customer emotion is exercised and deliver all the necessary service attached to
Forever Young (Morgan, Feng, & Whitler, 2018).The salesperson should provide a clear
and comprehensive procedure of the product application. If possible, the customer
should even be helped to apply it. This paints an image of loyalty, and the customer will
come back with a friend or a family member.
After sales services are also essential and should be perfect. The wrapping
should be done, and that could attract the customer back.