A Marketing Plan for Beauty Giant's 'Forever Young'

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Marketing Essentials
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Table of Contents
Introduction...................................................................................................................... 3
Part 1-Knowledge (LO1).................................................................................................. 4
Part 2-Application (LO2 & LO3)....................................................................................... 8
Conclusion..................................................................................................................... 20
Reference list................................................................................................................. 21
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Introduction
The concept of marketing has become the backbone of modern business industry and
ventures are utilizing effective promotional techniques to attract more numbers of
targeted customers. Marketing is the set of practices that are aimed at accelerating
sales performance, organizational profitability and brand image. Modern marketing
techniques have influenced ventures including SMEs to reach out more numbers of
customers across the globe, which has resulted high business growth and success. As
per the consideration of market researchers, marketing is the key to business success.
In modern scenario, almost every business venture from SMEs to large size
multinational firms is adopting effective marketing strategies for achieving competitive
advantage and greater market sustainability. Market researchers define marketing as
the management process responsible for determining, anticipating as well as satisfying
consumer requirements profitably.
In this study, different roles of marketing in accomplishing business targets will be
evaluated. Marketing department uses 7P’s marketing mix strategy for making the right
marketing strategy. Comparison of two selected business organizations in using the 7
P’s marketing strategy will be displayed. Lastly, a basic marketing plan will be produced
for overall consideration of the entire project.
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Part 1-Knowledge (LO1)
Task-Essay
“The role of marketing in modern organizations’ analyzing and evaluating key
elements of the marketing function and how they inter relate with other functions
in a modern organization”.
In modern business scenario is highly competitive, where all ventures are competing in
the big ocean to gain competitive advantage for greater market sustainability.
Researchers opined that marketing assists business ventures to modify their products
according to the needs of the customers and accelerating the sales revenue effectively
that provides company long term benefit (Armstrong et al., 2014). Within modern
organizations, marketing plays multiple vial roles and influence business organization to
better attract customers to the foundation. In simple words, marketing reaches out more
numbers of customers and evaluates them the value of the product so that they can
purchase the product and increase the organizational sales revenue.
As a department of an organization, marketing plays multiple roles but the most
effective role of marketing is promoting the business and mission of the company
(Baker, 2016). Marketing department plays verities of roles within an organization that
are as follows:
Conducting market research to understand customer needs
In an organization, marketing department has the responsibility of conducting market
research to assess the requirements and demands of the customers. It is undeniable
that customer purchasing behaviour always changes with time. Marketing department
informs the manufacturing department regarding the market needs so that the company
can modify products to meet the needs and expectations of the customers.
Defining and explaining the brand
Marketing department has the responsibility of defining and explaining the value and
significance of the products as well as the brand image of the product. Marketing
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department explains the value of the product in such manner that they can create
interest among customers so that they will purchase the products (Conejo and
Wooliscroft, 2015). Alternatively, it allows generating higher business profits by meeting
the sales target.
Conducting campaigns for reaching out more customers
Marketing department of an organization conducts multiple marketing campaigns to
gather attention of customers. It allows the department to reach out more numbers of
potential customers and accelerating the organizational sales performance.
Using social media to accelerate sales
Apart from these all, marketing department maintains all the social media activities,
promotion and advertisements for presenting their products more effectively in global
market place (Tuten and Solomon, 2017).
Increasing organizational profitability
All business organizations conduct business operations to generate profits and
accelerate organizational growth. Marketing department plays the main role in
increasing the organizational profitability and accelerating the growth rate
simultaneously by reaching out more customers and influencing them to purchase
products.
Apart from that, marketing department monitors and manages all the social media
contents, creating SEO or search engine optimization to higher up the organizational
pages, producing internal communication, budgeting plan, analysing market
competitors, overseeing outside vendors and agencies. In simple words, marketing
department has become the backbone of modern business industry. In modern high
competitive market scenario, strategic marketing is considered as the key to achieve
success.
However, it is fact that as a function of an organization, marketing also plays a vital role.
Marketing function includes multiple functions that all are effective in accelerating
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business and sales performance so that business organization can generate higher
turnover in business. The key elements of marketing function are distribution, product
management, finance, promotional channels and matching products to customer
demands (Blythe and Martin, 2019). All these key elements are important for a business
venture that is targeted to meet their set organizational sales target effectively.
Figure 1: Functions of marketing
(Source: Foxall, 2014)
The ultimate aim of marketing is exchanging products and services to customers in
such manner that maximizes the satisfaction of consumer’s expectations. Overall,
marketing function starts with determining the customer needs and ends with
successfully meeting the expectations.
Market planning
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Market planning is aimed at accomplishing the marketing objectives of the firm. It covers
almost covers all the aspects of manufacturing standards, advertisements and other
marketing activities.
Exchange function
The selling and buying are the exchange functions of marketing. They make sure that
offerings of an organization are available in sufficient qualities for meeting demands of
the customers.
Product design and development function
This function assists to make an effective and attractive design of products. In modern
business scenario not only costs matter, but also the product design, style, shape,
suitability and others largely to take production decisions.
Product distribution
This function of marketing involves transporting as well as storing. Transporting function
includes moving goods from manufacturing location to locations convenient for buyers
as well as storing function includes the warehousing goods until needed to sale
(Kozlenkova et al., 2015).
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Part 2-Application (LO2 & LO3)
Case Study
As the marketing manager for Beauty Giant, design a strategic marketing plan for
the new products ‘Forever Young’ that tactically applies the use of 7P’s to
achieve the overall marketing objective.
Different companies use different strategies that help them to capture the market and
set targets within themselves to achieve the desired goals. These are necessary for
those companies in order to set a plan for the business (Homburg et al., 2015). There
are different tactics present within the business that sets the targets like the “price,
place, products, promotion and many more”. To compare there is a necessity for two
companies that will give a clear look for the strategies taken by both the companies.
The two companies taken are Beauty Giants and Unilever. Both of these companies are
sellers of beauty products and are operated in the United Kingdom. The strategies that
are applied to the two companies will be analysed to check the strategies in a proper
manner.
Comparison of 7P’s of marketing Mix
This is a noteworthy aspect of marketing (Kukanja et al., 2017). The marketing mix
provides the clear strategy that is taken over by the company Unilever and Beauty
Giants. This will help the researchers to identify the marketing mix of Unilever and
Beauty Giants properly. Unilever follows the 7P’s of marketing that and Beauty Giants
will be provided below:
Elements Beauty Giants Unilever
Product They do not manufacture
the products sold by the
company Beauty Giants.
They sell products
manufactured by other
There are number of
products that are present
for Unilever. But in this
case the main focus is on
the beauty products.
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companies. They have tie-
ups with different
companies that provide
them with different kind of
beauty products for both
women and men
(beautygiantusa.com,
2019).
There are number of
beauty products along with
anti-aging creams that are
sold by Unilever. They
have total of twenty million
pounds of turnover from
this department. There are
products like Lux, Dove,
Rexona and many more
that are being
manufactured and as well
as sold by the company.
Price Since, there is no fixed
company from whom they
buy the products; it can be
assumed that the pricing is
also not fixed. They have
high priced products and
as well as products of low
prices to meet the demand
of all types of people in the
market.
The price of the product is
also significant for the
business. It has been seen
that the company has a
number of pricing so that
people of the lower middle
class to the people of the
upper income groups can
use this. This provides a
wide variety of range of
products for the market to
explore. They generally
follow pricing strategy of
“high quality and low
price”. This gives proper
marketing condition to the
people so that they can
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satisfy the needs of all the
different income groups.
Place Throughout the United
Kingdom, the company
has thirty branches from
where they provide service
to their customers. This
needs to be increased by
the company so that they
reach the maximum
number of people in the
market.
The place selection of
Unilever is also very good.
They have their
appearance in one
hundred and ninety
countries throughout the
world. They also have
over one thousand stores
in the United Kingdom to
serve the people of the
place. The place that is
selected by the company
is generally of high
population so that they
can serve maximum
number of people.
Promotion The promotion that is
done by them is not of
very high quality. Since,
they sell the products
manufactured by other
companies, Beauty Giant
do not invest huge money
in promoting the products.
Unilever is known to be
spending lot of money for
the cause of promotion.
There are number of film
stars that are also
associated with the
promotion of Unilever.
These are very significant
and they are capable
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enough to provide quality
advertisement to the
people to show their
existence.
People The people of all income
groups and as well as of
all age groups can buy the
products that are sold by
Beauty Giants as they sell
products of different prices
and of different qualities.
Since, the pricing strategy
of Unilever is very good,
they attract people of all
income groups. This helps
them to have big customer
base so that they can
serve the people well. The
people of all types of
income groups can buy
the products, as these are
affordable for everyone for
their use.
Process They sell the products
from their stores. They buy
products from the
manufacturers and sell
those products in the
market from their own
stores. This is the reason
they could not expand until
now. They only have fifty
stores from where they
sell their products in the
whole of United Kingdom.
The process that is
followed by Unilever to sell
their products is that they
generally sell their
products from the retail
stores and super markets.
This is done to attract as
many customers as they
can (unilever.com, 2019).
Physical Evidence There is no such physical The “physical evidence”
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evidence of Beauty Giants
as such but they are
bringing in new products
for them that will help the
business to grow. Other
than this, there is no such
evidence as they sell the
products manufactured by
other companies.
of Unilever is that they
have a very unique logo
that represents the letter
“U”. There are total of 25
icons that are present in
the logo that represents all
types of products that are
sold by them.
Table 1: Tabular Representation of 7P's of Marketing
(Source: Created by the author)
The above areas provide clear comparison about the different companies that are in
operation in the United Kingdom. It can be seen that Unilever is at a much better place
with proper planning and control over their products and service provided by them in the
market. Meanwhile, the other company Beauty Giant needs to improve their structures
in a better way so that they can capture the market with the new product that they are
bringing in the market. These are such information that is received from the comparison
of the strategies between the two companies.
Marketing Plan of Beauty Giants for their new product “Forever Young”
Executive summary
Preparation of an effectual marketing plan is an important factor in every organisation.
In this section, a strategic and effectual marketing plan has been developed for the
organisation Beauty Giant related to the launch of its new product named “Forever
Young”. This plan has been prepared based on the vision of the organisation, its
objectives and goals followed by conducting its situational analysis along with deciding
how it will be targeted, segmented as well as positioned in the UK marketplace. It will
also discuss on how the plan will be implemented, monitored and controlled.
Vision of company
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