Marketing Plan for Beauty Giant Company's New Product

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Marketing Essentials
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Table of Contents
Part 1- Knowledge (LO1)................................................................................................. 3
Part 2- Application (LO2 & LO3)......................................................................................7
Reference List................................................................................................................ 17
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Part 1- Knowledge (LO1)
Task “The role of marketing in modern organisations”
Introduction
Marketing is a process in which the customers’ requirements are identified, anticipated,
and satisfied as well as the activities are performed for the profit of the firm (Dann,
2010). It involves provision of products to the buyers that would gain the firm
competitive advantage through following the latest trends as well as by providing the
right product at right time with the right price range. In the given study, there will be
discussion on the vital elements of marketing function. The trends involved in the
marketing function will be assessed. The nature of marketing will be explained as well.
The connection between marketing and other functions of the business will be
described.
Discussions
Analyse and evaluate key elements of the marketing function and how they
interrelate with other functions in a modern organisation.
Trends in marketing concept
As per the information generated from cim.co.uk (2015), the trends of marketing have
been changed, and it is continued to change with time to be able to adapt to the
changing situations. At present, the database marketing technique, video-conferencing,
internet, and such technologies are used for the marketing purpose. Some of the trends
that will be continued to be used are use of technology in collecting information for in
the R&D department of the organisations. The tools will be utilised to measure the
performance of the employees. Training and development is such a trend that is
incorporated in the companies to enhance the skills of the workforce (Thompson, 2018).
These are some trends that have been not used in the earlier days in the marketing
procedure.
Influence of external environment on marketing
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External environment can affect the marketing procedure as the environmental pressure
has been increased, and the firms in the country for the survival should consider this
factor in the marketing of the commodities. Even the technological factor affects the
marketing procedure by changing the concept of work with the use of technological
equipment. The alteration in the social aspect of the environment can induce
amendments in the function of marketing.
Role of marketing
Analysis- Marketing has the function of analysing market situations to assess the
preference of the buyers.
Planning- The function of marketing department is to make plans as per the data
collected from the market to produce the commodities to the buyers that would hold
some value for them.
B2B- In the B2B sales, marketing has the role of selling products to other businesses
for the growth of the company and increment in the profit (Järvinen and Taiminen,
2016). In the present method, marketing department involves in indirect contact with the
customers as the commodities are sold through different business.
B2C- In B2C sales, the marketer has the duty of selling products directly to the
customers through promotion to induce the sales and enhance the business’ image. In
this method, marketer should research the customers’ requirements and target specific
section of people to make sale of the commodities.
Business function- Marketing is one of the functions of the business that helps the
company in fulfilling its goal. It includes promotion of the commodities through
advertising from different channels.
Responsibilities of marketing
Marketing department has the responsibility to do proper research to get appropriate
findings on the need of the buyers.
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It has the responsibility of making appropriate plan as per the changing environment
of the market.
Marketer has the duty of communicating with the customers to solve their problems
and connect them with the company (Armstrong et al., 2018).
It has the responsibility of inducing the sales through promotion of the goods. This
would help the customers understand about the products that the company is promoting
as well as the company will be benefitted if the customers find the products useful for
them.
Importance of connection between marketing and other departments
Sales and marketing
Sales and marketing department is connected vitally. Sales department includes the
process of selling the products that have already been promoted through the marketing
department. It creates value of the functions and activities performed by the marketing
section. Without the sales department, the activities done through the marketing would
be invaluable as well as the firm would not be able to achieve the business goals if the
products are not sold even after their promotion. Thus, sales department helps achieve
the goal of the business and marketing department.
Finance and marketing
Finance department provides adequate resources to the marketing function for carrying
out different activities involved in marketing of goods. It helps through investment as
well as monitoring the expenditures made by the company in marketing procedure. In
this way, marketing is connected with the finance department for fulfilling the objective
of the company. It would not be possible to do promotion and advertising without the
assistance of finance department (Reibstein, 2015).
Production and marketing
The production department supplies the commodities to the marketing department for
promotion. It produces the goods that would be later marketed by the latter department
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for increasing the number of sales. Marketing department is dependent on the
production section, as the latter activities would let the marketing section decide on how
to promote the products. The value of the commodities created by the production
department would enhance the marketing function as the products that have been made
effectively are promoted.
R&D and marketing
Research and development department helped in development of the products through
researching the market. It incorporates use of technology that can be utilised to improve
the features of the commodities. In this way, it is important for the marketing department
and without it the prospect of sales would be reduced that would reduce the value of
promotion (Wind, 1979).
Conclusion
It can be deduced from the above made discussion that there are various duties and
responsibilities of marketing. The relationship of marketing with the various sections of
the firm has been explained along with the emphasis on their importance on the
marketing department. The different trends in marketing have been explained as well.
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Part 2- Application (LO2 & LO3)
Task
Introduction
In the following study, a marketing plan will be designed for the product launch of
Beauty Giant Company. The proposed product is Forever Young, an anti ageing
product on which marketing mix will be carried out. The company will be compared with
another organisation in the same industry to compare their strategies.
Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.
7 Ps Beauty Giant Simply Hair
Product The products sold by the
company are hair extensions,
braids, and such.
Some accessories are also sold,
such as eyebrow extensions,
clips, and others
(beautygiantusa.com, 2019).
The products manufactured
and trade by the firm includes
different for s of hair
extensions.
It also sells shampoos,
accessories such as combs,
hair clips, and others to
increase the sales of the
corporation (simplyhair.co.uk,
2019).
Price Price range is reasonable
(beautygiantusa.com, 2019).
The customers can buy the
products through online method.
This would help the company to
sell in more number the intended
product.
There is different pricing
strategy of the firm that is
dependent on the duration of
time.
There is only online shopping
method available for the
customers.
The aftercare products are
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transported to the customers
with free delivery facility.
The products will be delivered
to the customers on their
preference of time
(simplyhair.co.uk, 2019).
Place It has presence in different parts
of the world such as the U.S,
Canada, the Caribbean, and
many others
(beautygiantusa.com, 2019).
This would help the company to
increase the number of sales of
Forever Young through
distribution in these countries.
Simply Hair is located in Kent,
London.
Promotion It promotes through creating
blogs on the official website
(beautygiantusa.com, 2019).
It can help the company to
increase the number of sales by
writing about the application and
uses of Forever Young product.
The subscribed customers can
get the idea of different styles as
well as special offers. This is one
of the strategy of the company to
increase the number of
consumers.
It promotes the products by
using brand ambassador so
that the image of the brand
will enhance
(simplyhair.co.uk, 2019).
It provides video tutorials on
hair extension to increase the
profit with the increase in
number of views
(simplyhair.co.uk, 2019).
Simply Hair provides advice
to the consumers on colouring
and extension of hair.
It also promotes through
social media to get number of
viewers to lure them into
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buying the commodities
offered by the corporation.
People Good customer service
(beautygiantusa.com, 2019)
This would enhance the sales of
the proposed product.
The team members of the
company are well trained
(simplyhair.co.uk, 2019).
Physical evidence It has good relationship with the
customers through online
communication method.
This would keep their loyalty ad
lure them into trying the new
product, Forever Young launched
by the firm.
The company is known for its
products’ quality.
Process The company provides classes to
the customers on tape extension,
microblading, and many others to
increase the profit through this
activity.
It provides classes on different
languages to increase foreign
exchanges (beautygiantusa.com,
2019).
The organisation provides tutorial
on hair extension to increase the
number of viewers thus increase
the profit rate.
The organisation provides
essential details about the
goods to the customers
through the packages of the
products.
The products are
manufactured with the
objective of enhancement of
every aspect of the goods
such as texture, colour,
length, volume, and such to
increase the rate of sales
(simplyhair.co.uk, 2019).
The delivery of the products is
done with utmost care to
ensure the preservation of the
quality of goods.
Table 1: Marketing Mix of Beauty Giant and Simply Hair
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(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.
Executive summary
There would be provision of situational analysis in the present report along with different
segmentation tactics. Implementation and budget plan will be made for the proposed
product of the company. Sales forecast will be made for the Forever Young product that
is proposed to be launched by Beauty Giant.
Vision of company
The vision of Beauty Giant is to become one of the famous organisations in the market
with the introduction of a fresh product.
Objectives
 To augment the profit by introducing a new product in the market
 To enhance the quality of customer service to generate more revenue
 To enhance the brand image with the introduction of a valuable product
Situational analysis
SWOT
Strengths
 Beauty Giant is present in many
countries, such as Europe, Africa,
and others (beautygiantusa.com,
2019).
 The customers’ service quality of
the firm is good.
 The products are available at
Weaknesses
 There is shortage of range of
products.
 The company lacks innovation in
advertisement
(beautygiantusa.com, 2019).
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affordable range.
Opportunities
 The company should increase the
line of products to increase sales.
 It can make expansion in various
regions to gather number of profits.
Threats
 Competitors such as Simply Hair
can reduce the market share of the
products of the corporation
(simplyhair.co.uk, 2019).
 Changes in weather can affect the
delivery of commodities that would
affect the company’s image.
Table 2: SWOT Analysis of Beauty Giant
(Source: Created by the learner)
PESTLE
Elements Description Effects
Political The Cosmetics Directive has
posed strict regulation on the
manufacturing materials of
cosmetic products
(reagent.co.uk, 2015).
This would affect positively as
there would not be harmful
ingredients in the Forever
Young products that would
affect the buyers’ perception.
Social There have been changes in
the view of the consumers
concerning chemical based
products (Ghazali et al., 2017).
Beauty Giant will be affected
positively with the change in
consumers’ perception
regarding cosmetic products.
Economic There has been increase in
the economic growth rate by
0.3% in within three months
that is from February to May
2019 (tradingeconomics.com,
2019).
The growth in the economical
rate can affect positively the
business, as there would be
more sales due to high
income of people.
Technological The latest technologies are Advanced technology would
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used by the cosmetic industry
in the promotion of the
products as well as for online
selling.
have positive influence over
Beauty Giant as it can easily
sell commodities through
online method and promote
them through online website.
Environmental The plastics used by cosmetic
industry would affect the
environment by creating
pollution this has made the
people conscious about the
negative effects of cosmetic
industry (Bom et al., 2019).
The environmental aspect
would affect the firm
negatively. It should introduce
recyclable plastic for
packaging of the products to
have an influence over the
people of the country.
Legal As per the “National
Minimum Wage Act 1998”,
the firms of the UK should
provide sufficient wages to the
labour force
(legislation.gov.uk, 2019).
Beauty Giant to avoid penalty
or strict punishment from the
government of the United
Kingdom should give
adequate salary to the
employees that should be
based on their qualification
and work experience.
Table 3: PESTLE Analysis of Beauty Giant
(Source: Created by the learner)
Segmentation
Beauty Giant should the segment the people who can use the cosmetic launched by
this company. The segmentation will be based on their age, income, and gender. This
will enable the company to focus on a specific group of people for the sales of the
commodities (Blythe and Martin, 2019).
Targeting
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