Marketing Essentials Report: Analysis of Beauty Giant's Marketing Plan

This report provides a comprehensive analysis of marketing essentials, focusing on a case study of Beauty Giant, a UK-based cosmetic company. The report begins with an introduction to marketing and its importance in modern organizations, followed by an examination of the role of marketing in relation to other departments, such as Human Resources, Finance, and Production. The main body of the report includes an application of the 7 Ps of marketing to achieve business objectives, specifically for the launch of Beauty Giant's new anti-aging product, "Forever Young." This involves a comparative analysis with L'Oreal, a competitor, across product, price, place, promotion, people, process, and physical evidence. Furthermore, the report outlines a marketing plan for the new product, targeting 30 different markets in the UK. The report concludes by summarizing the key findings and the strategic recommendations for Beauty Giant to successfully launch its new product and achieve its business objectives. The report emphasizes the importance of market research, customer relationship management, and the effective use of the marketing mix to drive success in the competitive cosmetic market.

MARKETING ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
“The Role Of Marketing in Modern Organizations.”.............................................................3
TASK 2............................................................................................................................................6
Application of 7 P's of marketing for achieving business objectives.....................................6
A marketing plan for Beauty Giant........................................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is the most important part of any business as it involves the activates which
can result in the success of the company. It refers to the activities which are taken by the
companies for promoting a product or a service in order to increase the sale of the organisation.
In order to make the product or a service to be successful in the market marketing process plays
an essential role (Banerjee, 2017). This report is based on the case study on Beauty Giant which
is also taken as an organisation, it is a cosmetic company operating in UK. It has got 50 branches
all over UK selling cosmetic products for men and women. Company wants to launch a new
product segment in market called “Forever Young” and will be targeting 30 different markets in
UK. This report includes role of marketing in relation with other departments of the company,
also, the ways that Beauty Giant can use different elements of marketing mix in order to achieve
its business objectives. Present report also include the marketing plan for new product to be
launched in the UK market.
MAIN BODY
TASK 1
“The Role Of Marketing in Modern Organizations.”
Marketing can be defined as creating the value for their customers and collect value in
return. It is the process of dealing with customers and enhancing establishment of profitable
relationships with customers (Išoraitė, 2016). As per Philip Kotler, Marketing can be defined as
Satisfaction of needs and desires through an exchange procedure. This can be done when the
marketers are successful in identifying the requirements of customers and meeting them
satisfactorily. Marketing is a very important part in making their products familiar in the market
and generating the required sales. For its survival and success there are many roles that the the
different organisations should adopt while performing the marketing function. And with
changing times the role of marketers have also changed. Their dusty is not only to create a
marketing strategy but to find those innovative methods and technologies that will help an
organization in shaking the inertia and unlocking the potential of the company. Also the
revolution in the digital industry and the growing importance of this industry has forced the
marketers in developing new mechanisms so that they can project the organizations image as a
strong one (Rudd, Jaakkola and Marshall, 2016). The marketing manager is the key personnel in
developing a marketing strategy and therefore he plays a key role :-
3

Conducting Market Research :- Market research is the process of identification of the new
opportunities that are arising in the market and analysing the changing trends and norms of the
company. This research helps the marketers in forming a clear understanding of what are the
demands and requirements of their customers and how they can be satisfactorily met.
Developing Marketing Strategy :- After the market has been properly analysed; the marketers
formulate a series of plans and tactics that they will be using in order to promote the product or
se4rvice that they are planning to launch in the market. Formulating a proper strategy will help
the company in increasing their sales successfully.
Identification of New opportunities :- Market research can help the marketers in analysing the
new market trends and this can give the marketers an insight in the buying patterns and
behaviour of the consumers so that they can segregate peak and non-peak seasons which help in
developing competitive strategies.
Customer Relationship Management :- A marketing manager collects the database related to its
customers and on the basis of information collected, he interprets the different satisfaction levels
of all the customers and this helps the company in implementing after sale services so that a
loyal customer base can be created building lasting relationships (Grishchenko and et.al., 2016).
Decision making :- The role of marketing manager extends to decision making in the business
regarding various fields like planning function where they develop research plan, strategies etc.
In organizational functions, they assist in integrating all the departments by establishing a
working pattern. They also have to motivate their customers and create potential buyers. Regular
evaluation is extremely necessary which helps them in creating cost efficient budgets.
Apart from the importance of marketing manager, marketing is also interrelated with
other departments influencing their working.
Relationship to Human Resource Department :- The HR department is the one who performs
the most important function of training the personnel. In order to develop a strong marketing
team, it is very important to make the HR understand how an employee needs to be trained and
for this they need to have a good understanding with the HR department. Also, the HR
department helps the marketing department in giving a human touch to the strategies developed
by them so that they can establish a bond or connection with them (Hatch, 2018). For e.g. the HR
department of Beauty Giant gave the marketers the idea of including beauty tips in their
advertisements which helped the marketing team in making their company successfully.
4

Relationship with finance department :- Finance department plays a key role in providing the
necessary data and logistics related to the various pricing levels. This helps the marketing
department in identifying the correct price level for their targeted customer base and hence adopt
appropriate pricing strategy. It also provides the budget required to carrying out the marketing
activity and implementing the strategies formulated. The relationship with finance department is
considered as the backbone in structuring a proper marketing strategy. Finance department has
prepared budgets for launching their new product Forever Young in UK's market.
Relationship with the production department :- Marketing departments collects all the data that
is related to the tastes and preferences of the existing and the potential consumers which helps
them in ascertaining various facts like their need, quality expectations, expenses and the value
that a product should generate. They communicate this in precise manner to the production
department of the company so that they prepare the desired product having al the necessary
specifications and fulfilling al the demands of the customers. This will help the company in
successfully achieving the targeted market segment (Lewnes and Keller, 2019). Therefore, it is
crucial to establish a good understanding with the production department of the company as well.
For e.g. - Marketing department made the production department understand the purpose of
launching their new product and hence the production team used the relevant raw materials
which has ensured the effectiveness of their new anti ageing product.
All these factors collectively are very important in determining the success of the marketing
operations and launching a product or service successfully in the market. The marketers need to
understand what a consumer expects and demands from them and the extent up to which they
can satisfy such demands. This is the key towards garnering customer value and generating
loyalty amongst them. These elements lead to an increase in the performance of the company and
thus increase their profitability. The modern marketers have redefined their concepts and it
extends to not only selling the product but also focuses on creating a superior customer
satisfaction experience.
Ashley Friedlein developed a new marketing model called The Modern Marketing Model
abbreviated as M3. This model presents four stages covering the 10 basic elements namely :-
strategy, analysis, planning and then execution (The Modern Marketing Model, 2017). This
model integrates the older model with the new elements and helps the marketers in syncing
different emerging marketing fields like digital mare, Artificial Intelligence etc. with the
5

strategies that they formulate so that they do not lag behind and the plans thus formulated
increases their competitiveness o the present market.
TASK 2
Application of 7 P's of marketing for achieving business objectives.
Beauty Giant, a UK based cosmetic company has come up with a with a new product
called Forever Young which is a anti ageing product and in order to successfully launch their
product, the best method is to critically compare their product with an already established brand
which will help them in evaluating their product before launching it through 7 P analysis (7 p' s
of marketing, 2016).
Basis L'Oreal Company Beauty Giant
Product L'Oreal is an international company
having its base spread over many
countries and supplying a vast range of
products. They have 3 categories of
product division namely The Body Shop,
Consumer Products Division, Professional
Product's Division, Active Cosmetic
Division and L'Oreal Luxe. There are
international testing standards which the
products are required to meet and only
then they are launched in the market.
Beauty Giant however is a UK based
company having limited number of
products. They are the sellers of
products from different brands and the
recently launched product, Forever
Young which is expected to attract
large number of customers within the
age group of 30 to 35 years (Kotler
and et.al., 2015).
Price L'Oreal Company practices both premium
pricing in Body Shop products and
L'Oreal Luxe but also utilize premium
pricing methodology for a majority of its
products which are available at affordable
prices which help in creating a larger
customer base. This helps the company in
penetrating various international markets
through different price levels.
Beauty Giant is adopting penetration
pricing where they are introducing
their products at affordable prices.
Their focus is on giving a high quality
product which will attract customers
even of the price is slightly higher as
quality is valued more over price.
6

Place L'Oreal being an international MNC has
its brand spread all over the world in 130
countries across 5 continents. They have a
strong distribution channel making their
products easily available in the market
through stores, retailers, malls,
pharmacies etc. This has helped in
maintaining their status quo (Rowley,
2016).
Beauty Giant has its stores in UK
operating through 50 stores. Despite
this, their products are highly
renowned and they are regularly
expanding through various distribution
channels like malls, high street
shopping etc. They are also making
their products available online very
easily thus expanding their market.
Promotion By using the tag line, 'Because We're
Worth It!', the company has adopted a
variety of promotional techniques so that
they can expand themselves. The brand
ambassadors used by them are high profile
people like Jennifer Lopez, Cheryl etc.
who have a huge fan following. The brand
also conducts many CSR activities like
sponsoring 'Festival de Cannes', Beautiful
Beginnings so as to motivate young
women by giving them skilled training.
They adopt many promotional
techniques like online marketing, use
of digital technology etc. They utilize
a unique technique of promoting their
products and give beauty tips in their
advertisements. This has helped them
in making their promotional
advertisements more interesting and
expanding their customer base.
People At L'Oreal the managers are well aware of
the value of their employees and HR takes
proper care of their employees. There are
around 86000 employees working with
L'Oreal currently and they are given
adequate training and skill development
so that they can maintain positive
interaction with their customers.
Despite being a UK based brand,
managers at Beauty Giant know very
well the importance of the employees
and their employee base is very
innovative regularly updating
themselves with the changing trends.
This has helped the company in
increasing their flexibility thus
improving their services and creating a
high bad value (Išoraitė, 2016).
7

Process The technology used for the production of
product in L'Oreal is very high and there
is an extreme focus on non usage o any
animal extracts in their cosmetic products.
The processes used by them are
environment friendly and the management
is concerned very much with the welfare
of the society and its people.
The process used by them for the
manufacturing of the products are very
innovative and employee friendly
which helps them in developing
products as per the needs of customers.
Since their major market s through
online mediums they ensure proper
distribution channels are developed
and the product reaches the customers
as soon as possible.
Physical
Evidence
The packaging style used by L'Oreal is
entirely different from others making their
product easily recognizable for the
customers. Also, the visual merchandising
employed by them is very effective in
garnering the attention of the customers
very easily. The packaging material used
for their products is eco friendly thus
reducing the wastage in their processes
(Baker, 2016).
The packaging technique used by
Beauty Giant is also very unique and
the logo is eye catching easily
capturing the consumers attention.
This facilitates their online trading as
they use high resolution images during
their marketing process. This helps in
attracting the customer's attention and
hence increase the customer base in
UK so that the brand can focus on
international expansion.
A marketing plan for Beauty Giant.
It is extremely necessary to create a proper marketing plan including all the costs and
illustrating the objectives of the firm along with a Swot Analysis of the Beauty Giant Company.
The marketing plan formulated must be in sync with the the objective of the firm so that they can
be achieved. The formation of a marketing plan help in giving a direction to the firm guiding
them towards the path that they should adopt in order to succeed and increases the customers in
targeted customer base.
About the Company :- Beauty Giant has around 50 branches which are spread throughout UK
selling toiletries of men and women from different brands which are world renounced. Recently,
8

the company began its own brand of product by launching a new anti ageing product called
Forever Young which is expected to garner majority of customers falling within the age group of
30 years and more.
Vision :- Beauty Giant aims to become a market leader at an international leader boasting a wide
variety of cosmetic products covering entire range (Mohammad, 2015).
Mission :- Beauty Giant operates with a mission to influence men and women over entire world
so that they can freely express themselves and aspire to become better individuals by utilizing a
range of innovative cosmetic brands.
Objective :- Beauty Giant has an objective to create a company with an extremely competent and
a highly satisfied employee base whose motivation and dedication will help the company in
expanding in the international markets. Their objectives can be defined as SMART objectives in
following manner :-
Specific :- Beauty Giant aims to launch the anti ageing cream Forever Giant in UK's market.
Measurable :- The progress of the company can be measured by comparing their sales from those
of competitors and from the past sales.
Attainable :- The company can attain this objective by adopting proper marketing strategies and
it will also increase the competitiveness.
Relevant :- This will assist the company in achieving their business objectives and expand their
customer base as there is a wide market for these products in UK.
Time-Based :- The company intends to launch their product within one financial year.
STP Analysis :- STP Analysis involves segmentation, targeting and positioning of the product so
that it can be placed in the correct consumer market segment.
Segmentation involves classification of consumers in 4 segments i.e. psycho-graphic,
demographic, behavioural and geographical segments. Beauty Giant can use demographic and
behavioural segments for positioning their products.
Targeting includes the customers that have been actually targeted and here they fall within the
age group above 30 years residing in UK.
Positioning under which the company Beauty Giant are planning to launch their product as one
being high in quality content and available at affordable prices.
9

SWOT Analysis :- The SWOT Analysis of Beauty Giant will help the company in evaluating its
internal environment and identify those areas which are problematic so that they can take better
decisions (Baker and Saren, 2016).
Strengths
 There are a variety of products that are
available with the company and they
supply products of many brands.
 Vast customer base in UK and they are
extremely loyal to the company.
 Highly efficient research and
development department thus
maintaining the costs of the company.
 Regular innovation has helped in
providing unique products to their
customers.
Weaknesses
 There is an extremely high competition
in the cosmetic industry.
 Lack of any international expansion
dose not give much exposure to the
company.
 The company has been selling products
of different brands which have already
established themselves (Bhatt and
Gupta, 2018). Launching Forever
Young can be risky and ineffective
marketing traits might lead to failure of
the product.
Opportunities
 The company can plan to launch their
products at an international level thus
giving it the exposure needed.
 Enhance their innovative development
so that the company can earn
competitive gains (Babin and Zikmund,
2015).
 Wide scope and can expand in the field
of products related to personal care
also.
 Launching their own products will help
in adapting themselves to the
challenges faced and hence establish
Threats
 The market of Beauty Giant is limited
to UK only and other competitors have
international outlets.
 Even a little bit of redundancy on
behalf of the management can lead to
great amount of losses for the company.
 Regularly changing trends and
innovations in the industry makes it
difficult to regularly innovate and
change their practices.
10

their own range of products.
Marketing Mix :- Marketing mix is used to develop strategies and this analysis has already been
conducted above. The new product launched by them i.e. Forever Young should be matching the
quality standards and pricing strategy that Beauty Giant should adopt is Penetration Pricing so
that they can establish their product well in the market and adopt majority of customers. Also,
the innovative idea of producing an anti ageing cream should be highlighted again and again so
that the customer recognition increases for the company and this can be done through digital
platforms very well (Pike, 2015). Altogether, implementing correct marketing mix will help the
company in adopting correct marketing strategies to launch their product.
Budget :- Preparing all the necessary budgets for the company so that they can launch their
product successfully is very important. Beauty Giant can launch their product 'Forever Young' in
the UK's economy by preparing a marketing plan with the budget of £ 1200. This can be
attributed in the following departments of cost :-
Costs Amount
Marketing Expenses £ 500
Rent £ 150
Indirect Expenses £ 150
Salaries £ 400
Total Cost £ 1200
If the marketing plan is successfully implemented according to the given budget, it will highly
improve the efficiency of the product making it very attractive and will be hugely successful.
Monitoring and Controlling :- Monitoring and evaluating the marketing plan thus implemented
is a very important part for ensuring success of the product. Beauty Giant and their management
can continuously monitor their performance by using the benchmarking tool. This will help the
management in identifying and resolving the deviations which arise between the estimated cost
and the cost actually incurred (Malhotra, 2015). Test Marketing is another tool which will assist
the management in monitoring regularly the progress of their product in the market. Reviewing
11

annual growth is another method for continuous evaluation. All these techniques collectively
can assist the management of Beauty Giant in monitoring the growth of their product.
CONCLUSION
Marketing is the most important function of any company. Marketing department of a
company is responsible for marketing of products and services. In order to promote the products
to customers and increase brand awareness it become important for company to make use of
different marketing essentials. There are various marketing essentials on which company has to
focus such as pricing strategies, analysing the market, advertising and publicity etc. Therefore it
is essential that all the department of the company should work with each other in order to
achieve organisational goal. The study has also explained 7 P's of marketing mix which help
marketers to make strategies for their product and services. Strategies include pricing strategies,
promotional strategies, product strategies etc., these strategies help company to make the product
attractive as well as to ensure easy access of product to customers. In order to introduce new
product in market company creates a proper marketing plan which help the company to
successfully launch its product in market.
12