Marketing Essentials Report: Functions, Mix, and Marketing Planning

This report delves into the fundamentals of marketing, encompassing key functions, the marketing mix, and strategic planning processes. It begins by defining marketing and its core objectives, followed by an examination of the marketing concept and its various types. The report then outlines the roles and responsibilities of marketing functions, including market research, product development, market planning, and promotion, alongside their relationships with other organizational departments such as human resources, production, finance, and operations. Furthermore, the report provides a comparative analysis of the marketing mix strategies employed by Beauty Giant Plc and L'Oréal, highlighting their approaches to product, place, price, promotion, and people. Finally, it concludes with a basic marketing plan designed to help organizations achieve their goals and targets, offering practical insights into effective marketing practices.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Marketing functions and their roles and responsibilities ............................................................1
TASK 2............................................................................................................................................4
Comparison of marketing mix with other company....................................................................4
Marketing Plan ............................................................................................................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing can be determined as an activity, set of institutions and also as processes for
creating, delivering, communicating and exchanging the offerings which have value for partners,
customers, clients and society at large (Kotler and et.al., 2015). The major objective for which
marketing is being done is to achieve the goals and aims of a business by earning reasonable
profits by earning reasonable profits by satisfying consumer needs. Present report is based on a
company named as BEAUTY GIANT Plc. It deals majorly in men and women toiletries from
various renowned brands around the world. Company has made a good name in the market but is
not involved in production of goods and they don't even sell any product of their own. This
report includes various key roles and responsibilities of marketing function with its relation to
wider organisational context. Further this report consist of comparison of the ways in which
different organisations applies marketing mix in order to marketing planning process for
achieving objectives of the business. Lastly, this report includes a basic marketing plan for an
organisation through which an organisation can achieve its goals and targets.
TASK 1
Marketing functions and their roles and responsibilities
Marketing Concept: marketing refers to place where goods and services are sold or
purchased with the help of using various marketing techniques like research, advertisement, etc.
The concept more emphasis on fulfilling the needs of consumers rather than earning profit. The
concepts of market are of five types: production, product, selling, marketing and social
marketing. In production concept the producer focuses on increasing production by decreasing
the cost on large scale economies. In product concept whatever is produced by the producer will
be sold in the market according to producer and according to the consumer the product quality is
preferred with customer satisfaction. In selling concept, the seller tries to sale more product to
increase its own profit. Social marketing refer to follow ethics of the society like consumer
protection laws, cause less damage to nature, etc (Gillespie, 2015).
Roles and responsibilities of marketing functions are
Collection of data: Market research refers to collection of data about the consumer
needs and their preference. The role and responsibility of market research is to gather data from
market regarding company competitors through which company analyses it strengths and
weakness in the market (Roles and responsibilities of marketing functions, 2019). Market
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research also helps to gain knowledge about the customer satisfaction from the company product
which will further help to identify opportunities to gain more market area. L’Oréal is involved in
collecting data related to needs and demands of consumers so that they can be able to grow.
Product development: Product development is the strategy that modifies the existing
product or offers new product to the market is product development it can be internal or external.
The roles and responsibilities of product development is to understand the customers wants and
needs so that product can be developed according the customer’s requirement. Sales of existing
product helps to analyse the gap between existing product and the rang of product of company.
With product development the company can use the strategy to reduce the cost of product which
will maintain the price and higher the profit margin for the company (Larson and Draper, 2015).
L’Oréal company is engaged in developing new products and goods by motivating employees to
bring new ideas so that creative products can be launched.
Market Planning: Market planning is a blueprint which is prepared for the
advertisement of product and formulation of marketing strategies for future. The roles and
responsibility of market planning is to make objectives, avail the opportunities, reduce threats to
eliminate rival and get competitive advantages. With the help of market planning the company is
able to measure its objective. The role of market plan in L’Oréal is to ascertain the uncertainty
that may arise in future. With the help of market planning the company is able to control its
activities by comparing the standard objective with actual objective of the company with this the
company is able to detect the problems and tries to reduce it to get more efficiency with
effectiveness in the company.
Promotion: Market promotion is most important function in the marketing as promotion
is the technique where consumer gets aware of the company product available in the market. The
roles and responsibilities of promotion is to create the brand awareness among the consumers
(Nirschl and Steinberg, 2018). With the help of promotional strategies, the L’Oréal is able to
attract pool of consumers towards its product. Promotional plays key role in increasing the sales
with revenue generation for the company. Through promotion the product is widely Accepted by
the consumers.
Roles and responsibilities of marketing related to organisational context
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Relationship with Human resource department: The role of marketing as very
important with human resource department. Human resource department sees the total number of
employees needed in the organisation. It according to demand creates vacancy in the
organisation. If an organisation needs employees in it then it will contact HR department
(Malhotra, 2015). The process of training, selection etc. is done by this department only. When
Human resource department needs employees, it contacts marketing department as they post the
articles in newspaper and on various media about the vacancy in the company. Marketing
department of L’Oréal and HR department plays very important role as they decide the future of
the company and proper coordination between them is very important if a company wants to fill
the vacancy with efficient candidate.
Relationship with Production department: This department has all the information
related to the production of the company. The total number of goods produced per day, total
number of variety of goods produced and more and all this information is with this department.
What the company is producing and how much a company should produce so that it can get the
maximum profits is decided by these both department. L’Oréal advertise the goods on the basis
of information provided by the production department. Marketing of goods is done by the
company seeing the goods produced by the company. In companies like this. many goods are
produced per day so it is very tough for the marketing department to see that which goods should
be advertised that day so that demand and supply match (Sanclemente-Téllez, 2017).
Relationship with finance department: Finance department keeps the total record of all
the funds in the organisation. It prepares the budget for the company and gives the total amount
of money which can be spend on advertisement of the products. Marketing of product is very
costly expense. The main functions of marketing department are related with the promotional
activity. Finance department will give the budget to marketing department about how much
money can be spent on the promotion of goods and services. All the departments have to see that
the company should run under the financial capabilities and no department should spent more
than the given limit.
Relationship with operation department: Operation department sees the day to day
working of the company. The operation department sees that the goods produced should be of
good quality and they should be in proper design. Demand and supply of good should be correct.
It means that marketing department will tell that what goods are needed in which quality and it is
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the duty of operation department to check that the goods produced should be equal to the
demand. Operation department and marketing department should work together so that
organisational goals can be achieved.
It is very important that all the department should work together and there should be good
communication between the department so that information can be passed easily without any
barriers. Marketing department is related to all the department and every department is affected
by any fault in this department (Armstrong, and et.al., 2018)
TASK 2
Comparison of marketing mix with other company
MARKETING MIX BEAUTY GIANT LOREAL
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PRODUCT The product of BEAUTY
GIANT Plc. company mainly
are men women toiletries. The
new product that company
launched in the market is its
anti- ageing cream 'forever
young'. The main focus of the
company manufacture the
quality product with herbal
ingredients used. The objective
of company will get fulfilled
by launching new product in
the market the company will
able to capture more market
with the product quality as
herbal product is being
manufactured(Medina, Coelho
and Bellido-Pérez, 2017)
The products of Loreal are hair
spa shampoo, chemical free
shampoo, etc. The product of
Loreal had brand utility as the
goodwill in the market is
higher as compared to
BEAUTY GIANT Plc.
product. The packaging of the
product is attractive due to
which many consumers easily
gets attracted towards it
product. With the help of
product strategy the company
is able to give much higher
quality product with the
warranties of no skin damage
than BEAUTY GIANT Plc.
company through which the
company accomplishes to
build the trust relationship with
its customer.
PLACE The BEAUTY GIANT Plc.
company established direct
sale, multichannel, mainly
establishing retailer over 50
branches of the company. The
company further target 30
markets. With the help of this
strategy the company will able
to cover the large section of
the market. The objective will
Loreal company follows many
strategies as the channel of
distribution of Loreal is much
longer compared to BEAUTY
GIANT Plc. company. The
company mostly uses the
internet for selling its product
globally and also takes mail
orders. The objective of the
company gets fulfilled with the
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get fulfilled by creating new
customers with the help of
increasing its channel of
distribution.
help of place strategy that it
able to sell its product globally
and easily create new
customers on international
basis. Even the customer can
give reviews for the product
through the medium of internet
(Pappas, 2017).
PRICE The Beauty Giant will launch
its product with the help of
price penetration strategies.
This strategy will help the
company to attract the
customers by offering product
at low competitive price then
its rivals in the market. With
the help of price penetration
strategy the company will able
to capture the market and
create the brand loyalty among
the consumers.
Loreal uses price skimming
strategy as the product of
Loreal are high quality. The
objective of the company will
get accomplished as the
strategy will able to increase
the brand image and with high
cost quality product the
company earns more profit and
have competitive advantages
for the products.
PROMOTION The BEAUTY GIANT Plc.
company promotes its product
with the help of launching the
product at special offers with
the combo products like buy
one get one free, purchase of
two products at discounted
rate. Other promotions can be
used through advertisement
Loreal company uses many
promotional techniques some
of them are advertisement with
the help of print media, radio,
TVs, etc. the company started
the campaign to creates the
brand awareness among the
consumers. Digital marketing
created brand awareness
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like news paper, pamphlets
hoardings, etc. the can offer
trials to use the product
(Perreault, 2018). With this
strategy the company will able
to achieve the objective to
attract the consumers and
create the knowledge of the
product in consumers.
through social media,
websites, etc. with the help of
this strategy the company is
able attract new many
consumers which fulfils the
company objective.
PEOPLE Most important aspect for the
company are its organisation
people. The BEAUTY GIANT
Plc. company will create the
flexible working culture for its
employees so that they can
able to work with efficiency in
the company. By giving proper
training and development,
learning programs to develop
their skills. The company will
try to fulfil the consumers
satisfaction by understanding
their needs from the company.
The objective of the company
will get accomplished by the
getting customers satisfaction
and employees are happy to
work in the company.
In Loreal company the
employees are motivated to
work because the company
gives rewards, performance
appraisal, perks and other
facilities due to which the
retention ratio of the company
is maintained which helps the
company to retain the skilled
and talented employees in the
company for longer time
duration. The goal of business
gets fulfilled as the with
effective communication the
employees work efficiency
increases and the
accountability is decreases.
The company follows flat
organisational structure which
increases coordination with
other functional department
and removes the burden of
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accountability on employee
which reduces the pressure on
employees and they are able to
work for achievement of
organisational gaol.
PROCESS BEAUTY GIANT Plc.
company offers uniformity for
the services. As the company
can provide after sales services
which enable the customer of
the company feel more
comfortable for the product
delivery. The strategy helps
the company to achieve
objective by increase in the
sales of product. With this the
consumers can easily order the
product at their home which is
an more convenience method
for consumers(Pike, 2015).
Loreal company offers its
product on internet from where
the people are able to get brief
information about the product.
where they can buy product
with convenient rate the
product will be delivered to
customer. With this strategy
the goal of company gets
accomplished as the
consumers can give their
feedbacks or grievance about
the product online through
which the company next time
improve the quality of the
product which further helps the
company to grow in market
and get competitive
advantages.
PHYSICAL EXISTANCE BEAUTY GIANT Plc.
company product can be
attractive when the company
uses attractive packaging like
colour, logo, etc. which helps
the company to attract its
Loreal had attractive
packaging and logo which
itself signifies the brand image
in the market. The strategy is
very effective as it attracts
large pool of consumers due to
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customers by product
packaging. It enables the
company to get noticeable
image for product in market.
its brand goodwill in the
market with the help of
physical existence the
company need not create much
brand awareness among
consumers.
Marketing Plan
Executive Summary
BEAUTY GIANT Plc.is a famous brand across UK. It has established its branches in
over 50 states in UK. They sell men and women toiletries that are of various other brands that are
dealing around the world (Puddle, 2015). BEAUTY GIANT Plc.is not producing any product of
their own. Finally, the firm decided to establish a product of their own that is 'Forever Young'
that will be an anti-ageing cream and the target customer's will be the women that are in the age
group of 30 years and above as it will be suitable for them because they are more skin sensitive
as well as conscious. The organisation has generated a marketing plan to launch the product.
Smart Objectives
Specific: The goals developed by the organisation must be specific and clear as for they
are easily understood to the employees. The specific goals made by the company made it simpler
for the employees to know that what is expected from them. In the same way objective of
'Forever Young' is to deliver customer the best quality cream that will satisfy the women of the
age group 30 years and above.
Measurable: Objectives set by the organisation must be measurable. There are various
tools and techniques that are applied to calculate the performance of firm, whether they are
matching the standards or not if any deviation has occurred what are the causes of those
deviations. BEAUTY GIANT Plc. has some standards set such as the company at least wants to
cover up the cost or expenses that are put in the product. By the end of 2020 the company aim to
achieve it's sales by 20%.
Acceptable: The goals made in the organisation should be made with the collective
opinion of everyone their as this will help in achieving the objectives successfully. The goals can
be more achievable if they have the support of employees. The goals for BEAUTY GIANT
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Plc.is made with the collective decisions of employee's and management. Employee's equally
participated in the making the decisions.
Realistic: The goals set must be real and accurate that can satisfy the employees and was
practically possible and achievable. BEAUTY GIANT Plc. has made objectives that are true to
achieve and are opportunity oriented.
Time Bound: To achieve the long term goal the company should try and achieve short
term goals. BEAUTY GIANT Plc. will launch it's product in the next financial year.
Objective of company: Forever young will provide high quality products to its customers and
will increase it sales by 10 %.
Mission
To develop and enhance their knowledge about natural skin care products and produce
extra ordinary products and serve to society (Rowley, 2016).
Vision
To become the most impactful natural skin care company in the world.
SWOT Analysis
Strength: BEAUTY GIANT Plc. been a popular brand established for over 10 years has
a experience in dealing other brands product so it has a large chain in the UK market. The firm is
selling and promoting goods of other brands so they know the know how of the market and can
easily sell their own product. Company is already dealing in this kind of product so they have the
knowledge about the market.
Weaknesses: Their are various types of customer's, some are allergic and some are
sensitive to cosmetics product. So they don't prefer using anything. The most important is there
is too much competition going in the market and BEAUTY GIANT Plc. has to compete with
every other popular brand.
Opportunities: They can grab the market outside UK by expanding their businesses
outside UK. To capture that market the company should participate in various Fashion Shows
and promote the product by social media.
Threats: The women are already addicted to other brands so it will be difficult for
'Forever Young' to compete and capture the market.
PESTLE Analysis
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