Marketing Mix Comparison: Beauty Giant and Unilever

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MARKETING ESSENTIALS
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Contents
INTRODUCTION........................................................................................................................4
PART 1- KNOWLEDGE...............................................................................................................5
ESSAY- ‘THE ROLE OF MARKETING IN MODERN ORGANIZATION’........................................5
PART 2- APPLICATION.............................................................................................................10
COMPARISON OF ELEMENTS OF MARKETING MIX OF BEAUTY GIANT AND UNILEVER......10
DIFFERENT TACTICS APPLIED BY ORGANIZATION TO ACHIEVE THE BUSINESS OBJECTIVES
........................................................................................................................................... 13
STRATEGIC MARKETING PLAN FOR BEAUTY GIANT............................................................15
CONCLUSION.......................................................................................................................... 20
REFERENCES........................................................................................................................... 21
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LIST OF FIGURES
Figure 1: PESTEL ANALYSIS.......................................................................................................7
Figure 2: ELEMENTS OF MARKETING MIX..............................................................................10
Figure 3: ANSOFF MATRIX......................................................................................................13
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INTRODUCTION
Every business enterprise aims at gaining profitability and achieving success in the industry.
Marketing plays a significant role in the growth of a business as it helps in increasing the
awareness among the consumers about the products and services offered by the company
and boosting the revenues of the business by increasing the sales with the help of marketing
and promotion of the company’s offerings (Baker, 2016). The following assignment will
focus on the significant role played by marketing in modern organizations considering the
elements of marketing and the interrelation of marketing function with the other functions
of the organization. Being a marketing manager of Beauty Giant, a strategic marketing plan
would be developed to determine the elements of marketing mix of a new product ‘Forever
Young’ being introduced by the company in order to achieve the desired goals of the
business.
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PART 1- KNOWLEDGE
ESSAY- ‘THE ROLE OF MARKETING IN MODERN ORGANIZATION’
As stated by Thompson, ‘Marketing has now extended beyond selling goods and services to
the customers’. Thus, marketing plays an important part in the modern organization as it is
a process that starts even before the development of the product and does not just end at
selling the product but continues by providing the after-sales services to the customers
(Baker, 2016). The marketing function aims at establishing long-lasting relationships with
the customers that helps in enhancing their satisfaction level and gaining a competitive
advantage that results in a company's success.
ROLES AND RESPONSIBILITIES OF MARKETING FUNCTION
There are various kinds of roles and responsibilities performed by the marketing function to
promote growth in the organization. These are:
Market Research: The marketing function is responsible for conducting market research for
the company for seeking the needs and requirements of the consumers, their changing
taste and choices, products and services of the competitors, features of the substitute
products so as to produce new and innovated products for the consumers to increase their
satisfaction (Blythe and Martin, 2019).
Product development: The marketing manager of an organization is involved in planning
the activities for development of new products by undertaking purchase of raw materials,
designing the features, looks, packaging of the products and enabling the production of the
innovated product according to the assessed needs and demands of the consumers (Baker,
2016).
Product promotion: The promotion of the products or service is a very crucial activity
performed by the marketing function that aims at boosting the sales and revenues of the
company by informing the consumers about the products and services developed by the
organization and stimulating them to make purchases using different promotional tools
(Blythe and Martin, 2019).
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Boosting sales: The primary role and responsibility of the marketing team is to make efforts
and plan activities and develop products that help in boosting the sales of the company as it
leads to increase in profitability of the company which is the ultimate objective of the
organization. It is the role of the marketing function to formulate effective promotion and
distribution strategy that encourages sales (Baker, 2016).
After-sales services: The role of the marketing team does not end with the sale of the
product. The marketing function is responsible for providing best customer services with an
enhancing satisfaction of the consumers which can be achieved by offering after-sales
services such as repair and maintenance, guarantees and warranties, resolving customer
problems, etc. (Blythe and Martin, 2019).
ROLE AND RESPONSIBILITIES OF MARKETING IN WIDER ORGANIZATIONAL CONTEXT
The responsibilities of the marketing function and other departments can be determined in
the following manner:
Marketing and HR function: The responsibility of the marketing team is to inform the HR
professional of the company about the number of personnel needed by the team describing
the skills and knowledge needed for the job. The effective flow of the communication of the
need to the HR managers helps in gaining the best employees for the marketing team
(Cacciolatti and Lee, 2016).
Marketing and finance: The marketing manager has to coordinate with the finance
department so as to prepare an effective budget that helps in estimating the requirements
of the fund by the marketing team for conducting various activities of the departments and
fulfilling the predetermined objectives (Cacciolatti and Lee, 2016).
Marketing and research: It is the responsibility of the marketing team to communicate with
the research team and understand the needs and choices of the target consumers and
strategies of the competitors as identified by the R&D department so as to make plans of
product development and innovation accordingly (Cacciolatti and Lee, 2016).
Marketing and operations: The role of the marketing team is very crucial when it comes to
coordinating with the production team as the marketing manager must clearly state the
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requirements of the consumers and also explain the production plan to the team so that the
production team undertakes the activities for the development of new product (Cacciolatti
and Lee, 2016).
ROLE AND RESPONSIBILITIES OF MARKETING IN MARKETING ENVIRONMENT
The major responsibility of the marketing team lies in analysing and understanding the
marketing environment of the company which comprises of various factors that affect the
decisions of the company and they are:
Figure 1: PESTEL ANALYSIS
(Source: Kreutzer, 2019)
Political & legal: The operations of the marketing function are affected by the changes in
the policies and laws framed by the government and the parliament such as trade policy,
employment laws, pricing policy, export-import policy, etc. that need to be considered by
the marketing managers to avoid interventions from the government in the business
(Kreutzer, 2019).
Economic: The price of the product, rate of inflation and interest, income and purchasing
power of the consumers, etc. are the factors that influence the marketing decisions taken by
the managers and must be considered by the team so as to stay competitive in the market.
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Social: The marketing team of the company is responsible towards raising the standards of
living of the society and increasing the satisfaction level of consumers by providing them
goods and services in good quality at reasonable prices taking into account their needs an
preferences and thus, increasing the efficiency of the organization (Kreutzer, 2019).
Technological: The primary duty and responsibility of the marketing team is to focus on the
implementation of the advanced technology in business that helps in improving the
production process and reducing the cost and saving time and efforts of the staff and also
increasing the presence of the company online by creating a website and promoting the
company’s products online through social media to increase the customer base (Kreutzer,
2019).
SIGNIFICANCE OF INTERRELATIONSHIPS BETWEEN MARKETING AND OTHER FUNCTIONS
OF ORGANIZATION
The affective relationship between the marketing and other function of the organization
results in the success of the company in the following ways:
Customer satisfaction: The coordinated efforts of the marketing and research department
help in finding ways to increase the satisfaction of the consumers by bringing innovation in
the business to fulfil the identified needs and desires of the consumers in order to attract a
large consumer base (Kotler et al. 2015).
Increasing productivity: The interrelationship between the marketing and operations team
for the production of new and innovated products focuses on planning activities efficiently
and working according to the plans that help in reducing wastage and enhancing the
productivity of the company.
Efficient allocation of funds: As the marketing team works together with the finance
department for the preparation of budget, it helps both the team in analysing the total
amount of funds needed which helps in taking steps for sourcing and investing the fund and
utilizing it efficiently at the time of need (Kotler et al. 2015).
Effective marketing team: The effective flow of communication from the marketing
manager to the HR professional describing the need of personnel helps in gaming efficient
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employees for the team as per their demand that results in building a strong and effective
marketing team for the achievement of objectives of the team (Kotler et al. 2015).
Therefore, it can be summarized that marketing function plays a significant role in the
development of modern organizations and the marketing managers re responsible for
coordinating with the other departments efficiently and understanding the changes in the
marketing environment in order to make effective plans that helps in attaining the specified
objectives of the business.
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PART 2- APPLICATION
COMPARISON OF ELEMENTS OF MARKETING MIX OF BEAUTY GIANT AND
UNILEVER
The marketing mix elements comprises of 7 P’s that are considered by the marketing team
in the business to encourage better functioning of the organization. The comparison of 7 P’s
of marketing can be done as follows:
Figure 2: ELEMENTS OF MARKETING MIX
(Source: JAIN, 2017)
PRODUCT: There are various kinds of the product offered by the Beauty Giant to the
customers in the UK. These products include products used by men and women for personal
grooming and hygiene, beauty products of different brands, etc. On another hand, Unilever
is a large multinational company offering a wide range of products worldwide. The products
include beauty and products for personal care, cleaning products, food items, etc. (Hasan,
2015).
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PRICE: The marketing managers at the Beauty Giant use the strategy of market penetration
where the products offered by the company are of high quality and affordable prices in
order to attract a large number of the consumers (JAIN, 2017). At Unilever, the pricing
strategy used is competitive pricing after conducting effective market research.
PLACE: The products offered by the Beauty Giant are sold to the population of the UK
through 50 branches opened by the company in all the parts of UK. on the other side,
Unilever operates its business in more than 190 countries having 6.3 million retail stores all
over the world to sell its products (Hasan, 2015).
PROMOTION: Beauty Giant applies a combination of advertising, sales promotion and
personal selling techniques in order to increase awareness among the consumers about the
company’s products. However, Unilever spends Billions of Euros on marketing its products
by endorsing film stars, advertising its products on a large level through billboard, hoardings,
and providing samples, etc.
PEOPLE: The employees of the Beauty Giant are treated well and their rights and interest
are considered in the business. Also, they are encouraged to participate in the activities of
the business. Unilever has employed 155,000 people till 2019 working efficiently in the
organization and treated fairly by the superiors (Hasan, 2015).
PHYSICAL EVIDENCE: The physical evidence of Beauty Giant can be seen with the help of its
outlets, signs, logo of the company brochure, and the online website of the company.
Contrarily, Unilever is a large company present in almost all the countries of the world and
can be seen through the sign, building, logo, equipment, brochures, business cards, etc.
(JAIN, 2017)
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PROCESS: The production process of Beauty Giant aims at eliminating wastage of time,
energy and resources and improves the quality that helps in increasing the consumer base.
At the same time, the production process of Unilever focuses on resolving the problems of
the consumers and providing best after-sales services in order to enhance the satisfaction
level of the consumers (Hasan, 2015).
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