Marketing and its Application: A Comprehensive Report

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Marketing and its application
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Table of Contents
Part 1- Knowledge (LO1)................................................................................................. 3
Part 2 – Application (LO2 & LO3).....................................................................................7
Reference list................................................................................................................. 19
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Part 1- Knowledge (LO1)
Introduction
Some particular factors, which can channelize marketing in such a manner, to provide
more customers and financial benefits to a company, are known as marketing essential.
Marketing’s role in any organisation in modern time will be understood. Way functions of
marketing interrelate with several different functions will be evaluated.
Main body
The role of marketing in modern organisations’ analysing and evaluating key
elements of the marketing function and how they interrelate with other functions
in a modern organisation.
Marketing can be seen as an organisational function, which consists of some
processes in collective manner. These processes are designed in such a manner, which
can create value, communicate with customers and deliver this value to them. It builds
relationship with consumers in a manner, which can yield excellent benefits for an
organisation as well as their stakeholders (Liu, 2017). Therefore, two points makes up
marketing if it seen in a broad manner. These are organisational function and some
collection of process. Processes include assembling, pricing and promoting.
Consideration of want of customers and their needs are vital. This is more than just
selling products in market.
Marketing concept is a philosophy relating to an organisation. By using this
philosophy, organisations dedicatedly understand and fulfil consumer needs by creating
value for them. This concept helps in creating value, which boosts relationship with
customers and this in return brings loyalty of customers towards a accompany
(Sidorchuk, 2015). In marketing, there is a commitment to customers to deliver superior
quality of products and pre as well as post purchase service to them. This is an
assurance made by companies to customers to give them satisfaction. There has been
an evolution in marketing concept. From 1850 to 1950, it was about sellers market.
After 1950, until today, it has become buyer’s market.
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Activities for creating value for any specific product or any particular service are known
as marketing functions. There are three major functions and these are physical,
exchange and facilitating. Exchange functions include purchasing raw materials,
buying finished goods for selling to any retailer. Retailers again sell those items to a
customer. Therefore, selling and buying comes under exchange function. Process of
selling helps in satisfying customer and transferring ID of ownership. This is applicable
for B2B and B2C type of business (Lilien, 2016). If purchasing process has some fault in
it, then it may incur more cost for an organisation. Therefore, executing these steps is
important for generating maximum profit for organisation.
Physical supply includes transportation, storage and warehousing. Transportation is
used for carrying materials, which is important for marketing. This helps in creating
place utility. For this reason, customers can go to a market and find goods as per their
choice. This is important for stabilising prices of different commodities by taking them to
place where they are scarce and surplus. Storage is another function, which helps in
preserving goods. This is vital for making those products available to consumers when it
is needed (Martin, 2018). It is vital to have proper transportation to carry item in right
time. Storages should have enough space to keep high number of materials. However,
if a company does not have these, then their marketing will fail.
Another function in marketing is facilitating. This includes financing, taking market
information, standardisation, grading, branding and packing. Information gathering
regarding customers is considered a major function. Often product standardisation is
done (Wang et al., 2016). This function includes branding by which an organisation
creates their image. If these activities are not properly performed, then it can become
major reason for displeasure for consumers, which will harm every stakeholder. If
organisations can do this perfectly, then it will benefit them.
Marketing department has some responsibilities towards customers. They try to
give customer better experience by delivering them better products of offering greater
service. They do it by reaching to customers and engaging them to understand their
specific demands. They stay with customers up to post purchase time. Marketing
department always focuses on understanding problems of customers (Malshe and
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Friend, 2018). They take responsibility for company by giving them economic
benefits.
There are some activities, which are done by marketing department and some
functions are included in it. First, they build strategy for marketing. Then they
understand orientation of market and gains insight of customers. They gain knowledge
about them and asses their buying pattern. Needs of different consumers are
considered here. They improve brand image of a company. They do it by promoting
values of company and ensure that customers thing that they are valued (Zhang, 2015).
Marketing department performs segmentation of market. They identify segments
according to demographics, psychographics and behavioural pattern. Then they target
those customers. They try to find out best group of customers, who can give
organisation maximum revenue. After that, they position their products according to
each segment. Products offered may be different to each segment. After that, they
ensure that distribution system is proper (Cross et al., 2015). After a product is ready to
launch, they involve in promotional activities. Various methods are used for promotion,
such as advertising on social networking sites, hoarding and newspapers. Then they
evaluate their success by using data and measurement techniques.
Marketing functions are related to marketing department. Therefore, every activity of
marketing department, which are functions, has some interrelationship with other
departments (Barker and Milano, 2018). Marketing department brings in information
about customer requirements and supplies it to production department. Production
department can only be productive if their products have values for customers. Finance
department gives money to marketing unit, which they use in different functions of
marketing (Jagpal and Xia, 2019). Money invested by finance department will go in vain,
if marketing department cannot bring any positive results. Marketing department
collaborates with R&D department. Research of R&D department is boosted by
information given by marketing unit. Information of rival companies and their products
are given to R&D, which they use to make better products. This way, marketing
department gives support to R&D department. HR department is greatly supported by
functions of marketing department. They utilise workforce given by HR department for
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marketing in proper way. This helps in utilising human resources in proper manner.
Therefore, interconnection is evident in case of marketing and other departments.
Conclusion
Marketing was defined as some organisational function. Concept related to marketing
has evolved. It has become buyers market now. There are marketing functions such as
physical, facilitating and exchange. Responsibilities are numerous for marketing
department and it ranges from setting strategy to execution. Every department is
connected with marketing department.
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Part 2 – Application (LO2 & LO3)
Introduction
At the section of the exact study, a marketing mix comparison will be made based into
two different organisations, which are Beauty Giant and Beautylish. Moreover, a
marketing plan will be done based into Beauty Giant that is going to launch a new
product named Forever Young.
Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.
Different elements of
marketing mix
Beauty Giant Beautylish
Product Range of products
belonging form Beauty
Giant includes different
kinds of facial packs,
different forms of eyeliner,
mascaras and things like
that (Hanssens and
Pauwels, 2016). However,
the organisation does not
sell products by their
personal brand name.
Moreover, the exact
organisation does sell
toiletries for both man and
woman. They even sell
products of others brand
and organisations as well.
However, they do not have
In Beautylish, diversity in
terms of products is quite
high. Their product range
includes makeup kits,
skincare products, nail
shaper, body care
products, hair related
products and many more.
Most of their consumers
want to buy products from
that organisation since they
can easily asses a variety
in different products while
buying from the
organisation. Moreover,
their consumers are also
opted to buy their products
since they are quite
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a diversified range in
product. Nonetheless, they
never compromise with the
quality of their products.
successful at maintaining
the quality of products.
Price The organisation Beauty
Giant always implements
effective pricing strategy
for being relevant at the
current competitive market
sector. Their competitive
pricing strategy can be
demonstrated as the
reason of their
organisational success. On
average their products
costs around €24-32. From
certain instances, it has
been found that cost of their
products is much lower
than their other competitor.
Some products of the
organisation are premium
priced and some of the
products and
competitively priced at
certain extension. Some
products such as make
pallet and make up kit and
many others are premium
priced. On the other hand,
their skincare and other
beauty related products
are priced competitively.
Therefore, the organisation
has the ability of targeting
different people belonging
from diverse social and
economical classes. They
mostly use value pricing.
Place The organisation does have
a range of different branch
all over the UK. Therefore,
it can be described that
consumers belonging from
different parts of UK can
easily access the products
of Beauty Giant without
The organisation Beautylish
does have different outlets
all over the UK. However,
they distribute their
products in such a unique
way that their potential and
existing consumers can
easily get on with their
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moving from one location to
another.
products from other
cosmetics shops as well
as from other shopping
malls at certain extension.
In addition to that, they also
have separate presence in
online market sector of
beauty products.
Promotion The exact organisation has
a separate Facebook
page, which they use as a
tool of making adequate as
well as effective
promotion. Since they
target both male and
female consumers for
increasing the overall sales
of their products, they use
both conventional and
unconventional methods
of promotion. They also
conduct weekly promotional
activities in different
magazines.
Since most of their target
market is consist of women,
it has been observed that
the organisation is always
opted to make such
promotional activity that
attracts women
consumers. The
organisation also provides
advertisement in
television, newspapers
and many more. They also
utilise online marketing
strategies.
Physical Evidence The consumers of Beauty
Giant identify the
organisation by their
official logo, which is their
key physical evidence.
Moreover, the organisation
also provides free samples
Beautylish has such brand
image and brand logo that
differentiate their products
from their competitors.
Moreover, they also allow
their consumer base to use
free sample for strengthen
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towards their consumers for
enhancing their physical
evidence prospect.
their physical evidence
(Todorova, 2015).
People The organisation Beauty
Giant has some qualified
employment base for
different functional units.
As an instance, they have
highly qualified sales
executives who have quite
some knowledge regarding
beauty related products at
certain extension.
Almost every employee
belonging from the
organisation inherit
extensive knowledge level
in beauty products, which
let the organisation sell
Process The organisation does rely
into importing as most of
their products are being
imported from other
countries such as Brazil
and many more. They also
have extensive architecture
of selling products through
their official website so that
they can further amend the
need of their consumers
(JAIN, 2017).
The organisation Beautylish
has efficient supply chain
architecture for gaining high
output by properly
distributing and selling their
products. In addition to that,
this organisation also has
some adequate inventory
management system that
reduces waste production.
Table 1: Comparison between marketing mix decision
(Source: Created by the learner)
As the marketing manager for Beauty Giant, design a strategic marketing plan for
the new product ‘Forever Young’ that tactically applies the use of 7Ps to achieve
the overall marketing objective.
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Executive summary
In the exact part of the study, vision and overall mission of organisations will be
described. In addition to that, PESTEL and SWOT of Beauty Giant will also be
described at the section at the study. Moreover, STP analysis will also be described as
the part of the marketing plan. Lastly, overall budget of completing the project and sales
forecast will also be demonstrated at the exact study. Lastly, the implementation and
controlling process will also be described at the marketing plan.
Vision of company
The organisation Beauty Giant is opted to earn more revenue from their primary
investment, which is the key reason why they have the vision of increasing their brand
equality at certain extension. In addition to that, they want to become the major supplier
of beauty products. In addition to that, the organisation also has the vision of catering
the overall needs and demands of different consumers belonging from diverse
educational as well as financial background (Haider et al., 2019). The goals and
objectives has been described below:
Goals and objectives
 To introduce a new anti aging product named Forever Young
 To increase the overall sales of Forever Young by 15%
 To develop their consumer service attributes by 20%
Situational analysis (Pestle swot)
Situational analysis consist PESTEL analysis and SWOT analysis.
SWOT analysis
Strengths
 They have such leaders and
managers who are quite skilful and
versatile at their work.
 They have extensive brand
Weakness
 They have limited range in terms of
products.
 They do not inherit adequate
marketing methods.
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recognition level.
 They always sell high quality
products.
 Their product base extensively lack
innovation.
Opportunity
 The can improve their promotional
and marketing activities.
 They can make innovation in
different beauty products.
 Moreover, the organisation can also
use oversee expansion for
increasing their market penetration
ratio (Morden, 2016).
Threats
 The level of competition is quite
high in beauty product industry,
which might pose as a threat.
 Moreover, their lack of promotional
activities might also be posed as
their key threat.
Table 2: SWOT analysis of Beauty Giant
(Source: Created by the learner)
PESTEL analysis
Key elements Factors Overall Impact
Political  The recent incident
of UK exit from EU
has made several
positive and negative
impacts upon beauty
and cosmetic
industry.
 The recent
regulations of UK
have made some
restriction upon
using different
chemicals at the
The recent change at the
political aspect of UK has
made several impacts. As
an instance, Beauty Giant
needed to increase their
product cost since the
effect of BREXIT has made
increment at traffic rate. It
is a negative impact. In
addition to that, the
restriction of using chemical
at the production of beauty
product might result into
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