Marketing Essentials Report: Roles, Mix, Strategy, and Plan

This report delves into the core aspects of marketing essentials, focusing on the roles and responsibilities of marketing within an organizational context. It examines the significance of marketing in product development, customer research, branding, advertisement, and customer retention. The report further explores the relationship between marketing and other key departments such as finance, R&D, HR, and production. A comparative analysis of marketing mix strategies (7 Ps) used by Beauty Giant and L’Oréal is presented, highlighting product, place, price, promotion, and people strategies. Finally, the report outlines a marketing plan tailored for the Beauty Giant company, emphasizing how the company can promote its new anti-aging cream effectively.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
P 1 Roles and Responsibilities of marketing...............................................................................1
P2 Roles and Responsibility of marketing relates with organisational context...........................3
PART 2............................................................................................................................................4
P3 Compare different marketing mix used by different organisations to achieve organisational
goal...............................................................................................................................................4
P4 Determining the marketing plan for the company..................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing essential means analysing market with the help of SWOT, keeping smart
objective, marketing mix, etc. All these are essential in marketing of organisational product and
services . Beauty Giant company produces the beauty product and introduce new product
'forever ageing' cream which is an anti-ageing cream (Baker and Hart eds., 2016). The study
will be based on the key importance of marketing in organisation in different field of
organisation which will tells the role of marketing used in organisation. Study will explain role
of marketing in organisation. It will highlight marketing mix element of the firm and will
compare it with its competitors. Furthermore, report will produce marketing plan to promote the
brand.
PART 1
P 1 Roles and Responsibilities of marketing
Definition
Marketing is a process to promote a business product and building relationships with the
satisfying customers. It is a management process which responsible for identifying, evaluating
and satisfying the needs and wants of the customer. Marketing management includes advertising,
selling and distribution of the product and it also includes after distribution services. Marketing
acts as significant roles in the organisations and helps to build values for customer and customer
relationships (Batra and Keller., 2016).
Concept of marketing are sales concept in which product is to be soled by the seller for
profit maximization, in production concept what ever is produced will be sold in the market. It
operates in every sector, marketing helps to the firm to promote their product and evaluate the
market of the products. It helps in differentiation of market segment. Marketing designed a great
deals of product advertisement and promotion to meets consumer’s expectation in an exclusive
way. The needs of manufacturers should be fulfil only when they meets with the needs of
consumers, this philosophy is consider with the marketing concept (Dahl, 2018).
Key roles and responsibilities of marketing:
External or Internal Product Development: The marketing department of company has
responsibility to work on the development of internal and external products of the company and
putting efforts to improve existing ones. Marketing team of firm has to evaluate the sales of
existing product and clarify the gaps and identify opportunity for organisation. Marketing team
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collects the information regarding needs and wants of the customers it helps them to evaluate the
improvement to combine in new. After all the research and improvements the team has to decide
the market price of the product and make plans for the launching of the new product (Harmeling
and et.al., 2017). Accordingly, development team produce new products so that firm can satisfy
needs of mass audience.
Conducting Customer and Market Research: It is a role of marketing department to
research market and customer’s needs and wants. It helps to them for making market strategies
for launching of new product and market research helps to defined target markets and
opportunities and gain better understanding of customer’s preferences. Information of market
involves the study of pricing, demand and supply of product. Segmentation includes different
group of market as differentiate by regions, interests, trends etc (Kaur, 2016). For example: firm
can carry out primary and secondary research in order to know more about consumers, this
would be helpful in gaining more knowledge and offering products to buyer as per their
requirements (Definition of 'Marketing Mix, 2019).
Branding: Marketing professionals of company are over and over again responsible for
efforts of the branding of the company. A brand is the thing that displays the business, service,
and product in front of market. A brand can arise in numerous forms containing names, symbols,
slogan, signs or logo of the business. Brands are needs more efforts for to developed over a long
period of time. A respectable brand shows the goodwill of the company and decides the
profitability of the company. For example: as aging product is new in the market hence people
are not aware about it, through marketing firm can make it a brand and can promote it well. This
will raise interest of people and they will plan to buy products of organisation.
Advertisement and Promotion: It is one of the basic duty of marketing professional is to
overview promotion and advertisement of goods and services provided by the concern firm.
They have to develop communication material to endorse goods and services to consumers.
Advertisement depends upon the available budget, team has to plan regarding e-mail marketing
programs, create advertisement campaigns, write press content or publication of product such as
goods unsolicited mail etc. marketing team has to appoint an advertising g agencies to design the
promotional material for advertising of products.
Customer Retention: It is an important for marketing team of firm is customer retention.
Generally, organisations use customer relationships management programs (CRM Programs)
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which involves collection of data in organized manner, evaluating it. Team has to pointing
customers with particular messages, and has to coordinate with services and sales activities
(Harmeling and et.al., 2017).For example: there are many big firms which offers cosmetic
products, people move towards these firm in order to get products asper their requirements. Firm
can make people aware with the quality of products so that consumers retain in brand for longer
duration and trust the company’s products (Kaur, 2016).
M1 An organisation should evaluate the necessity of the consumers and should satisfying them
in an effective and efficient manner than its competitors.
M2 Marketing department analyses needs of consumers and inform to product development
team about requirements of consumers. A respectable brand shows the goodwill of the company
and decides the profitability of the company.
D1 Firm can make people aware with the quality of products so that consumers retain in brand
for longer duration and trust the company’s products.
P2 Roles and Responsibility of marketing relates with organisational context
Marketing is essential for the growth of business and sustaining in market for longer
duration. Responsibilities of marketing in organisation are explained as below:
Marketing and Finance department: Both have significant relation, as marketing supports
in generating cash flow and finance support in managing this cash flow by effective allocation
of resources. This relationship is helpful in improving net worth of firm. Marketing is generally
concerned with the advertisement, product promotions, sales targets, compression between sales
of concerned firm and its competitors and so on while finance includes financial aspects like
cost, profitability, sales growth, year performance etc. (Krishna, Cian and Sokolova, 2016). The
finance and marketing departments of firm are interlinked with each other, without publicity
and advertisement the growth in sales of company will not increase, it cause no profit the whole
finance function will be ruined without profit.
Marketing and R&D Department: Marketing team conduct research for analysing
competition in the market, by this way R&D team research about current happening and
improvement areas. R&D department help marketing department in offering right product to
right consumers. This relationship always give benefit to the firm because by this way entity
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becomes able to offer satisfactory products which raises sales of the firm to great extent.
(Meffert and et.al., 2018).
Marketing and HR department: For effective marketing, a qualified marketing team will
be hired by HR department of firm. Marketing department provides all the reports which makes
easy for them to work upon the vision of the objectives of company. Marketing unit can
suggests to HR department to recruit the talented employees. By recruiting talented employees
in the firm provides new ways of doing work and explore the organisation in an effective
manner which leads to increase in the profitability and productivity of the business and it helps
to overall firm to evaluate performance of the company (Menon and et.al., 2015). HR hires the
best people those who have great marketing skills, marketing department make the human
resource department aware about future demand. Both they support each other in performing
their duties well. Otherwise there would be imbalance between demand and supply which will
affect overall profitability of company to great extent.
Marketing and Production Department: For meeting with the needs, wants and
expectations of the consumer, firm must cooperate between production and marketing
department functions. It is very important to collaboration between this to functions for
enhancing the performance of the firm. Marketing team of entity has information about the new
wants of the buyers and making strategies for their new product (Olson and et.al, 2018).
PART 2
P3 Compare different marketing mix used by different organisations to achieve organisational
goal.
Marketing mix (7 P's) Beauty Giant L’Oréal
Product mix: Company makes
product according the consumer
demands. The product that
satisfies the consumers.
Beauty Giant company
introduce new products in
market to attract customers. Its
product are make-up pallets,
soaps, shampoos and other
toiletries for both men and
women. Its new is anti-ageing
cream that 'forever young'
L’Oréal company has wide
varieties of product that are
nail polish, eye shadow,
foundations, shampoos etc.
The products are designed
according to the needs of
consumers. The benefits to
L’Oréal is its reputation in
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cream. The company will get
benefits by diversification and
attract large segment of market
(Pappas, 2016).
market and brand is known
as globally in world. The
company increases its
product diversification in
different areas.
Place mix: Company focuses
on the location from where the
consumers could easily get
product. The place should be
near or home delivery service
could be provided.
Beauty Giant company uses the
strategy to retail through
retailers, wholesalers, direct
sales and other channel of
distributions.
L’Oréal company is selling
its product globally, it uses
direct and indirect both
distribution channels in
order to deliver products to
end users.
Price mix: Changes in price
according to consumer demands
and make price cheapest from
rival companies to make them
happy.
Beauty giant company uses
different pricing tools to like
price skimming which helps to
create the price of product in
starting then lowers it down.
Penetration pricing is used
by company, it supports in
gaining competitive
advantage to the firm
(Payne, Frow and Eggert,
2017).
Promotion mix: Company is
promotes product through
advertisement, hoardings,
banners or digital marketing as
an effective tool used in
promotion of company product.
Beauty Giant can promoting its
'forever young' cream by
different methods of
promotional tools like social
media, special offering, gift
vouchers, etc. Which benefits
the company to increases the
knowledge in consumers by
spreading information of the
product. The company able to
achieve new customer (Verma,
Sharma and Sheth, 2016).
L’Oréal is branded company
in U.K. it need much
advertisement for the
product. The company can
use fewer tools for
promotion of product that
can be online market,
hoarding, boarding, etc.
Benefits for the company is
that it spends less amount on
promotion of new product.
The achievement for
company is that it can in
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expect success of its new
product in market.
People mix: The company
success lies on its employees
hard working. People right from
top most authority to lower
authority are helping the
company to grow and manage
the affairs of the company.
Human resource in company
mange’s and work hard then
object can be easily achievable.
Beauty Giant company provides
its training to employees. Make
them able to deal with
customers, etc. The company
increases the morale of
employee by giving promotion,
bonus, increment. From which
employee learns to work with
responsibilities and perform
better.
The people working in
L’Oréal company are
innovative and hard working
that makes the company to
compete in market with
useful strategies from time
to time. Company makes
care of its employees by
providing them incentive,
bonus, etc. which motivates
employees to perform best
in their role in company.
Processes mix: The delivery of
services that makes consumer
satisfy. Process starts right from
the idea of manufacturing a
product to delivery of the
product.
Beauty Giant customers wants
to reach the company they can
easily get connected from
company online website and get
details of the company. It
benefits the company to know
consumers problems related to
the product.
LOrealis the big brand hence
it is quit difficult to solve
complains of mass audience
easily, customers have to
wait to get proper solution
for their problem (Zikmund
and et.al., 2017).
Physical Evidence:
Modification in physical
existence of a product it can the
product design, packaging, easy
to use.
Beauty Giant has good
infrastructure of it retail stores,
its colours combination in the
logo is great which attracts
people towards the brand.
The company attracts is
customer through logo,
colour combination and
more other features. The
customers easily gets
attracted toward the product.
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P4 Determining the marketing plan for the company
marketing plan means planning marketing strategies, deciding target, sales target, etc.
The Beauty Giant Company introduces new product in market 'forever ageing' product it is an
anti-ageing cream for which swot, pestle analysis will be discussed.
Company profile: Beauty Giant company is manufacturing beauty products. It is situated in
London, U.K. It sells product for both men and women. Company started its business with less
than 20 workers (Baker and Hart eds., 2016).
Objective :The main objective of the company is to increases its sales of its forever young
product by four times more what it had last year by the end of year 2020. The objective of the
company is to create more new customers by 25% till end of 2019.
SWOT analysis:
 The strength is company already entered
in the market.
 The company is able to meet the
requirement of customers and has
reputation in market.
 Weaknesses of company is that
customers are not satisfied with the
product its new in market people are not
able to accept easily.
 Customer is not able to get what he
wants from the beauty giant company
products.
 Threats to beauty giant company is that
its competitors are increasing in the
market.
 Changes in environment are taking place
very fast the trends are changing in
minutes.
 Opportunities for the company is that it
can upgrade its technology (Kaur, 2016).
 Beauty products can be modified and
sold on global market like forever ageing
can be presented in international market.
PESTLE analysis: Political factor of a company has impact due to political factors of the
government of U.K. Like policies regarding taxation on the company. Economical factor
includes the aspects related to the resources available at the economical rates to the company.
Social factor for beauty giant company is its responsibilities toward the society the product
should not affect the customer any skin deceases or other problems. Technological factor reflect
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in the way to the company to increase the manufacturing machines which will increases the
production. Legal factor the company follows the laws related to consumers safety for using of
the product. Environment factor includes all the above factor that affects the business (Meffert
and et.al., 2018).
Marketing mix(4 p's):
 Product: designing of this forever young products will be the unique point of Beauty
Giant company.
 Price: It will use competitive pricing strategy in order to gain competitive advantage
 Place: It will use direct distribution strategy and will sell products through retail stores.
 Promotion: It will be done through social media marketing and advertisement through
televisions, radios, etc (Menon and et.al., 2015)
Segmentation, Targeting and Positioning:
 In segmentation the company focuses on demographic segment that is the men and
women segment.
 Targeting the middle age group people to purchase the product mainly women are
targeted they purchase more product. It will use differentiated targeting strategy.
 Positioning strategy will be cost position, this tactic will give benefit to the company
(Olson and et.al, 2018).
Financial planning: Planning for maintaining the finance of the company beauty giant
company manages its expenses as given below:
Cost Amount
Marketing expenditures 2000 Pound
Salaries 5000 Pound
Rent 1500 Pound
Administration expenses 1000 Pound
Total 9500 Pound
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Monitoring and Controlling: In monitoring the company will examine all the annual
reports which will help in increasing the sales of the beauty giant company. In controlling the
company will match the actual objective with standard objectives of company with the help of
sales testing. In sales testing the company will sale product in market for seven days if the review
of the product after seven days will be positive then company will peruse its sales in market
otherwise it will stop its sales (Zikmund and et.al., 2017).
M3 the objectives of the beauty giant product achieved when the company gave modifies its
product with reasonable price and opens stores with promoting the product to people by making
its physical existence attractive.
M4 with the help of different strategies the company able to identify its competencies and
capabilities in the market and plan its strategies according to the requirement.
D2 through strategies adopted by the company will help the company to achieve its long term
objective and able to create new customers.
CONCLUSION
From the above report it can be concluded that marketing is part of product selling.
Marketing of a product is an important step in increasing sales and creating new customer with
satisfying customer needs and wants. Marketing is the part of almost all the field in an
organisation like marketing helps in the fields of HRM, finance department, research and
development department, production department, etc. Marketing elements are useful in
assessment of organisational objectives the element are product, place, price and promotion these
are main elements and extended elements are people, process and physical existence with the
help this we can introduce new product in market by analysis.
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REFERENCES
Books and Journal
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Verma, V., Sharma, D. and Sheth, J., 2016. Does relationship marketing matter in online
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Zikmund, W.G. and et.al., 2017. Marketing Research: Asia-Pacific Edition. Cengage AU.
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