Marketing and Its Applications: A Comprehensive Report

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Marketing And It’s Applications
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Table of Contents
Introduction:........................................................................................................................................3
Part 1: An Essay..................................................................................................................................4
“The role of marketing in modern organisations”:.......................................................................4
Key roles and responsibilities of the marketing functions:...........................................................4
Roles and responsibilities of the marketing relating to the wider organizational context:........5
The key elements of the marketing function and how they interrelate with each functional
units of an organization:.................................................................................................................6
Part 2: Case study of “Forever Young”.............................................................................................7
Executive summary:............................................................................................................................7
Introduction:........................................................................................................................................7
Ways in which different organisations apply the marketing mix to the marketing planning
process to achieve business objectives:...........................................................................................7
Different tactics applied by organizations to demonstrate how business objectives can be
achieved:...........................................................................................................................................9
A basic marketing plan for the organization:..............................................................................10
Strategic marketing plan that tactically applies the use of the 7Ps to achieve overall
marketing objectives......................................................................................................................11
Conclusion:........................................................................................................................................12
References:.........................................................................................................................................13
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Introduction:
Marketing is one of the most essential strategies for every organization as it helps the
organization to grab the attention of the customers towards the products and the services of
the organization. The following report evaluates the importance of marketing and its
application with the help of the organizational context. The role of the marketing in the
modern organizations and the key elements for the marketing has been evaluated in the form
of an essay and for the evaluation of the aspects through an organizational context the
cosmetics giants of Britain Creative Cosmetics Ltd has been selected which is producing a
new software in the market known as Creative software in order to advice the other
organizations to develop biologically correct and good products for the customers. The case
study of the “Beauty Giants” producing the new product Forever Young is also evaluated
and the marketing strategy they are using to introduce their new product in the market and
target the public above 30 years of age. The following report elaborately explains all the
aspects of marketing by these organizations.
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Part 1: An Essay.
“The role of marketing in modern organisations”:
Marketing nowadays is one of the most essential parts for any business and every
organization in order to enhance their business and promote their products as well the
strategies of marketing a product are very essential in order to develop a good relationship
with the customers. Large organizations like Creative cosmetics ltd. Are needed to implement
effective marketing strategies in order to become impactful in the market and improve the
promotion of their new product Creative software for better promotion of the product and
gather the attraction of various other cosmetics and beauty product developing organizations
in a finer manner.
By implementing various effective marketing strategies the organization could understand the
needs and demands of the people and according to that they easily make the small and large
organizations understand that what are the changes they need to implement in their products
and why the software is this much essential for these organizations. The marketing strategies
provide the organization with the exposure to change or modify their products as per the
needs of the customers and then produce the products to the market.
The modern organizations very much rely on the marketing of their products as it provides
them with the exposure to convince their customers also and make them purchase the
products. The software that Creative Cosmetics has developed is to provide help and
solutions to the small and large cosmetics manufacturers about how to develop the
environment and biologically healthy products and satisfy the needs of the customers.
Key roles and responsibilities of the marketing functions:
As stated by Seimiene and Kamarauskaite (2014), the marketing strategies are responsible for
various functions that help the organization to understand the needs of their customers. It is
the task of the marketing department of the organization to opt for the market research and
ask their customers about their needs as well as also ask the present users of the products
about the feedbacks so that if required they could develop the product and enhance the ability
of the product in order to satisfy the needs of the customers.
The creative cosmetics is providing the software to the cosmetics manufacturing
organizations and describing them the formulae to develop products which would benefit the
skin and hairs as well as the nails of the public. The organization is needed to analyse the
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market condition of the organizations and then express them the needs of the software that
how the software could help them and the productivity of the products would be enhanced.
The market research and the demands of the public would also help the organization as it
would make them analyse the needs of the public which would help them to sell the software
to other organizations and help them to convince them by telling them how this software
could help them in developing better products for better customer satisfaction.
Good marketing strategies would help them to have a brief knowledge about the competitors
in the market as there are various organizations which provide support-software and this
provide them with the chance to prove the consumers why and how they are among the best
organizations. The organizations in order to carry out the processes of the marketing develop
marketing departments for the developing strategies which are very essential for the
organizations and these strategies help the organization to enhance their business and attract
the customers towards their products and services.
There are various tools and techniques that the management department of an organization
uses in order to enhance their business and analyse the needs that are to be fulfilled in order
to achieve better results in the organizational premises of the organization. The marketing
department of the organization can use different marketing software for marketing plans and
strategies in order to market their products and services of the creative software in the market
and produce the product to their customers.
The analytical tools like the google analytics is a better marketing tool which would help the
organization to market their product and also help them the analyse the marketing of the
products as well as determine the success of the product in the market in a better form. These
tools would also help the organization to have better interaction of the product in the market.
The marketing automation tools help the organization to maintain the different process of
marketing in a better and synchronised manner. These tools help the organization to create
better content, the landing of the products in the market through the use of CRM and e-mails.
In order to create effective marketing strategies, the organization could use the tools.
Roles and responsibilities of the marketing relating to the wider organizational context:
According to Gende et. al., (2014), the wider organizations having at a larger level it is very
difficult for the organization to better collaborations of the marketing processes and the
techniques. It becomes very tough for organizations to manage the strategies of marketing in
a better way. The marketing strategies are very essential for the organizations in order to
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understand the market conditions as well as the conditions of the competitors in the market in
a better manner. Through better marketing strategies the organizations are able to achieve the
better economic growth of the market. For the rapid growth of the organization, it is very
essential for the management of the organization to have better marketing strategies for
attracting a wider range of the customers towards their products.
In the context of Creative cosmetics, the organization needs to need to enlarge the marketing
strategies and various functions of marketing. The organization is needed to include better
information system in their organizational environment. The new product that is the creative
software they need to make it more efficient by through the use of the various marketing
strategies and research of the market in order to grab the attention of the customers towards
the products of the organization.
The key elements of the marketing function and how they interrelate with each
functional units of an organization:
According to Londhe (2014), one of the most essential elements of the marketing process are
the people, promotion, place and the price of the products and each of these are very essential
for the marketing strategies of the creative cosmetics. The organization is needed to keep in
mind the importance of these elements in order to promote their product creative software in
an effective manner. The 4P’s of the marketing mix increases the benefits of the marketing
strategies in order to promote their product. The price of the product is always set as per the
amount it took to develop the product as well as the prices of the products and services the
competitors are charging. The organization uses various promotional tricks for the promotion
of the product they are developing in order to attract the customers and provide the customers
with the highest level of satisfaction.
The marketing department is also responsible for the research in order to analyse the range of
the market where they could sell and promote their products and earn the most amount of
profit for the organization. The research about the areas where they could get the most
number of potential customers is very essential for the organization as it provides the
organization with the ideas about the market which would be best for the organization to
achieve greater heights.
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Part 2: A Case study of “Forever Young”
Executive summary:
The report below evaluates the best marketing strategies which the organization could use in
order to market their new product “Forever Young” in the market. The importance of
marketing in the organizational premises of the firm and also the report evaluates a strategic
market plan which could enhance the marketing of the products for the organization.
Introduction:
The marketing strategies of the organization helps them to understand the market conditions
of the firm and analyse the important information regarding the market policies of the
organization. Beauty Giant is a UK based organization which manufactures beauty products
for the public of the UK. The organization is developing and manufacturing a new product in
the market known as “Forever Young” and through this product, they are trying to target the
customers of age above 30 years. It is an anti-aging cream which would help the people to
look younger and the report below helps the organization to analyse the strategies which they
should opt for in order to market their product in a better manner.
Ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives:
The marketing strategies which organizations use in order to promote and market their
products can be changes as per the needs and requirements of the organizations. It is very
essential for the organizations to use different marketing mix strategies for the with different
factors like the price, people, promotion and the place. It is very essential for the organization
tom to promote its new product in the market at a better level for the achievement of the
organizational goals and objectives. The organization is focussing on the customers running
above the age of 30 and making the product as per their needs (Aghaei, et . al., 2014).
SWOT analysis of the new product Forever Young:
Strengths: The market of UK wants to
include the cosmetics and the beauty
products in the retail chain market and thus
it’s has been a positive point for the
organization and if the organization could
Weaknesses: The organization is focussing
only on the market of UK and in order to
earn better profit the organization could
target the potential markets and places
globally as well as the competition in the
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use this in an effective manner than it would
surely help the organization and enhance the
business of the firm.
country is not allowing them to achieve
better market conditions (Fuentes, 2015).
Opportunities: The public of UK wants to
use and explore the new range of cosmetics
products and thus it has been a good
opportunity for the organization to present
their products in the market of UK and
achieve profits.
Threats: The use of the new trends in the
marketing processes of the organizations
has been a drawback for the organization
and can affect the revenue generation of the
product.
The use of the methods of plastic surgery
has become quite preferable in the market
for the public and thus it could become one
of the threats for the organization.
PESTEL analysis for “Forever Young”:
With the help of the PESTEL analysis, the organization could understand the external factors
that could affect the development of the organization and the product they are developing in
the market (Jaiswal and Gupta, 2015).
Political: The political factors like the taxations system, security, safety and the policies
made by the government are the factors which are responsible for the affecting the marketing
strategies of the forever young and these factors influence the revenue also.
Environmental: The environmental factors are also responsible for affecting the
organizations business and the organization is needed to take care of these aspects if implied
at a fixed percentage (Kawaf and Istanbulluoglu, 2019).
Social: The social aspects are the behaviour and attitudes of consumers towards a product is a
social factor and the price of consumers is a few factors which influence the marketing
planning of the organization. In the marketing strategy of “Forever Young,” these factors
need to be remembered.
Technological: The technological factors are very essential for the organization as the
products are needed to be innovative in order to grab the attention of the customers and make
a good influence on the customer's mind.
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Economic Factors: The economic factors like the rate of the interest, rate of the capital and
the rate of labour cost are the factors which can affect the organization's revenue (Khan,
2014).
Legal factors: The legal factors are the tariffs and the taxation rates are the factors which
could affect the import and exports of the forever young and thus these are also responsible
for putting an effect on the revenue of the firm. The policies of beauty product are a little bit
different and that’s why it is important for them to remember these factors in the marketing
strategies (Londhe, 2014).
Different tactics applied by organizations to demonstrate how business objectives can be
achieved:
There are various tactics which the organization could use in order to achieve the goals and
objectives of the organization (Mehta and Chugan, 2014).
Increase the market share: The market share is needed to be increased by the organization
through aligning with various other organizations in order to attract the customers at a large
scale and provide the customers with a large variety of places for the customers to purchase
the products.
Brand awareness: The organization is needed to increase its brand awareness by promoting
the forever young in a better and efficient manner so that the customers could get attracted to
the products of the organization. Thus, it is very essential for the organization to make the
customers aware of the products that the firm is producing (Moslehpour, et. al., 2017).
Customer satisfaction: Whenever an organization develops a particular product it is very
essential for the organization to analyse the satisfaction level of the customer as it could help
the organization as feedback so that the organization could easily develop the product and
provide the customers with the products to satisfy the customers in a better manner
(Navrátilová, and Milichovský, 2015).
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A basic marketing plan for the organization:
The marketing plan for the product is needed to develop in such an order that it could attract
the customers in a better manner and achieve the best results from the marketing processes.
The Ansoff matrix is developed in order to analyse the organization's present products and
new products and also analyse the best way to promote it (Stone and Woodcock, 2014).
Existing product New product
Existing market Market penetration Development of product
New market Development of market Diversification
Explanation of the factors:
 Market Penetration: The organization is needed to make their market share ratio
is a bit larger with the existing products and needs to enter into the market with a
better product.
 Development of market: By entering the existing market and enhancing the
product the beauty giant and enhance the product’s development in the market.
 Development of the product: The organization is needed to enhance their
product in comparison to the old product in the market.
 Diversification: In order to launch the product into the market and gain better
profit it is very essential for the organization to produce products which are
diverse in nature from the old ones (Torres‐Rouff, et. al., 2015)
With the help of the Ansoff matrix, the Beauty Giants can develop its product and market
their product in a better manner. The organization is needed to use the Ansoff matrix for the
development of the product and gain better market attention through the use of the products.
The organization can easily enhance their market image by producing better products in the
market. This process is a bit risky for the organization but is also effective and can produce
better results for the organization (Vargo and Lusch, 2014).
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A strategic marketing plan that tactically applies the use of the 7Ps to achieve overall
marketing objectives.
The marketing mix is the group of variables that analyses the condition of the market and the
processes for better results so that the organization could easily achieve the targets of the
organization and the business could be enhanced easily (Wernerfelt, 2014).
7 P’s Description
Price The rates of the products are fixed as per the
rates of the products and the services
provided by the competitors of the product
in the market.
Promotion The organization could easily promote their
products through the online and the media
as well as the newspaper convenience.
Product In order to sell products to their customers,
it is very essential for the organization to
make their customers analyse the benefits of
their product and develop it in such a way
that it could attract the people in a better
form.
People People are very essential for the
organization and it is very essential for the
organization to provide them with the best
services.
Process The organization is needed to implement
various things which can enhance the
quality of the product and help the
organization to achieve.
Place The organization has to develop the product
into such a way that the product can satisfy
the customers in any place of the country.
Physical evidence It helps the organization to develop a better
image of the products and quality of the
products (Yuan, 2013).
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