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Introduction

Marketing refers to the art of effectively persuading customers to buy offerings of an organisation. It is very essential for modern organisations to use effective marketing tools and techniques to improve their sales figure. The modern marketers must possess or adapt necessary skills in order to enhance the acceptance and improve sustainability of their products and services (Pike, 2015). Without marketing, companies will not be able to sell their commodities to customers who are aware and have dynamic demands. The report below is based on Beauty Giant, a cosmetics firm with around 50 branches all over in the UK. The report shows an essay on the role of marketing in modern organisations, along with different use of marketing mix in various companies to achieve their business goals. It also covers creation and evaluation of a marketing plan for Beauty Giant's new product to attract and retain its customers in the UK market.

Task 1

Definition of Marketing

Marketing is a function undertaken by almost every organisation to promote its offerings and sell them after effective market research. This function also includes presenting the products and the services to the target audience by advertisements.

Marketing Concept

It is crucial for modern day organisations to develop effective strategies to achieve profit maximisation and eliminate competition. Marketing concept is one such strategy through which firms evaluate customer needs and take effective decision for their satisfaction. The agenda of the firm applying marketing concept is to satisfy customers better than its rival firms. There are five marketing concepts that firms take into consideration. These are as follows:

  • Production Concept: One of the oldest marketing concepts, it focuses on commodities that could most efficiently be produced by the company. The idea was to develop products at very low cost that could itself create a demand in the market. This concept was a success at the time when firms created offerings of basic necessities (Baker and Magnini, 2016). However, in the current scenario, firms adopting this concept are risking their operations by emphasizing on its own activities rather than the actual objectives.
  • Product Concept: The idea that is supported by this concept is that only those offerings that would possess utmost innovative features, high quality and maximum performance would be preferred by the customers. Marketing strategies of companies adopting these concepts emphasize on continuous improvement in their products (Griffitts, 2016).
  • Selling Concept: This concept takes the selling part into consideration and supports the idea of aggressive promotion and large-scale selling to sell the products offered by the company. More emphasis is given upon creation of sales transactions rather than customer relationships. The aim is to sell the offerings regardless of market needs.
  • Marketing Concept: The most widely used concept in modern marketing methods is marketing concept. This concept emphasize on dynamic market needs rather than hard selling. With rise in customer awareness and discrete income, the buyers have become selective in whatever they purchase. Thus, this concept encourages the companies to develop offerings that satisfy the market needs.
  • Societal Marketing Concept: The adoption of this concept has risen with rise in corporate social responsibilities. It supports the agenda of developing those strategies that help the customers to get the products at the most adequate value that raises the well being of customers as well as of society (Walliman, 2015).

Beauty Giant uses marketing as well as societal marketing concept to effectively market their offerings in the UK market.

Marketing Concepts

Illustration1:5 Marketing Concepts

Source:5 Marketing Concepts, 2017

Roles and Responsibilities of the Marketing Function

Customer awareness is enhancing towards the products and services offered by modern organisations which has an impact on their ever-changing demands. Almost every product or service has a substitute in the market, which is an important reason for organisations to market their positions well in the market (Gillespie and Riddle, 2015). The roles and responsibilities of marketing function in the modern-day organisation is mentioned below:

Managing Customer Needs:

The most important role of marketing is to satisfy customer needs. Product-based marketing cannot be applied in the current scenario where customers are considered as an integral part of a company's business environment. Marketing the products and services would help the modern organisations to satisfy these needs by establishing effective communication system which allows the customers to give spontaneous feedbacks. Beauty Giant is planning to create online website and mobile app which would help the communicate better with the customers.

Tracking of Trends and Competition Monitoring:

No customer wants to purchase outdated offerings as it is crucial for firms to develop commodities and services that are in trend. Modern day customers are attracted aggressively towards latest offerings and which to possess major trendy services or products that companies have to offer. Marketing Department helps to track these trends and help the company develop products according to these trends. It also helps them to monitor competition and stay ahead of the competitive firms in every aspect (Soboleva and et. al., 2016).

Transmission of Brand Values:

It is very important that brand values be effectively communicated to people. Marketing function creates messages, images and ideas that effectively communicate these values to its customers all over the world. Beauty Giant is required to work effectively and enhance its brand value by creation of products according to market needs.

Coordination:

One of the most effective responsibility of marketing is to ensure coordination in internal as well as external departments of an organisation. To ensure better management companies look out for ways in which this coordination could be established. Externally, there are many departments that contribute in strengthening the marketing function of a firm. These departments are designers, publishers, consultants, journalists and so forth. Marketing function is responsible for establishing coordination among these external departments with the organisation.

Innovation:

Unless the company is operating on a big scale and have extraordinary customer loyalty, it is very difficult to sell standard products and services for long term. Marketing departments in companies helps to identify the needs and methods required to innovate the existing products and services so that the firm could innovate its offerings and add value to its commodities (Kladou and et. al., 2016). Beauty Giant is working towards new product ideas to specify this need of innovation to sustain and enhance its business performance in the marketplace.

Interrelationships of marketing department with other functional units

Marketing is a very crucial and necessary activity that enhances the sustainability and profitability of the firm in changing business environment. With such bottleneck competition and dynamism in needs of the market, the most important task for any business firm is to develop its internal strength and coordinate its departments so that stronger strategies could be created to satisfy more customers and stay ahead of the competitive companies.

Marketing department of companies is bound to collaborate effectively with other functional departments to ensure growth in the business operations. These interrelationships are explained below:

Marketing and Finance: The most crucial interrelationship within any business organisation is between the marketing and sales departments of the firm. For modern organisations, these two departments act as a supporting pillars that help the organisation to sustain and grow. It is very important that both these departments support each other in order to develop effective strategies to stay ahead in the market. Finance department is required to treat marketing decisions as potential investment decisions. They must provide adequate funding for the marketing department to conduct its operations on an appropriate scale which is necessary to penetrate deeper markets. In case of marketing department, it must develop strategies according to the budget available for its operations. Furthermore, marketing supports the financial department when it comes to financial planning. The revenue and sales forecast included in marketing plans set a base for all the financial aspects and strategies of the business (Mueller and et. al., 2015).

Marketing and Production: Marketing department in modern organisations support the production department which undertakes development of new offerings for a company. Marketing department ensures various aspects required to produce quality products. It is responsible to supervise the range in which R&D would satisfy the needs as well as current trends. It also supports the production department by ensuring that the design and quality of the offerings are according to requirements of the customers. It also ensures that the delivery of the generated orders is as per the decided time schedule.

Marketing and IT: Information Technology is a term widely used in modern organisations. The marketing department supports the IT department in organisations by determining and improving the use of technology to gather, store and retrieve information. It ensures the use of intranet and extranet to supply various information about the products and services to the employees as well as to customers (Larson and Draper, 2015).

TASK 2

Application of Marketing Mix to the Marketing Planning Process

The marketing mix is an effective amalgamation of various marketing tools used by companies to attain the marketing goals. The process of developing, marketing and selling services and commodities of a firm gets very complex without proper use of marketing mix (Puddle, 2015). As per the case study, Beauty Giant is a cosmetics selling company operating in the UK. Following are the ways in which the firm, as well as another similar firm in the UK by the name of Avon Products, Inc., use the marketing mix to achieve their marketing goals. These steps are mentioned below:

BASIS

BEAUTY GIANT

AVON PRODUCTS, INC.

PRODUCT

The product strategy of Beauty Giant is to sell commodities of renowned brands all over UK. The offerings includes various toiletries and cosmetic products for women as well as men. However, to penetrate deeper in the UK market and to expand its operations, the company is planning to launch a new product in the market which would be one of its kind and would help the firm expand its customer base.

The product strategy of Avon has always focused on innovation. Earlier it used to sell diversified products for women, but now it develops and sells products essential for men. Furthermore, the company has now started to develop products under its own brand which includes offerings for make-up, fragrance, skin care etc. The focus of the company is to develop quality products for every skin type to satisfy large number of customers.

PRICE

The firm adopts competitive pricing strategy to sustain in a dynamic and competitive market. It analyses the market well and sells its products at prices after comparison with the rival firms. It also offers various discounting techniques to attract more customers in purchasing its products.

The pricing strategy of Avon changes according to the market. It adapts its production methods according to the business environment of the market its operating in. For instance, in UK, it adopts premium pricing strategies due to its high quality products and high standard of living of the public, else, in countries like India, the firm has adopted competitive pricing strategies to eliminate existing competition.

PLACE

Beauty Giant has 50 outlets in UK itself. To effectively sell its product, the firm plans to open different outlets specific for product types. This way it plans to ease the buying process of the customers. People would now be able to locate the necessary offerings easily which would attract more customers who don't prefer going through various product ranges to locate the desired product.

Avon Products, Inc. is a widely recognized firm in UK as well as overseas. With a history of more than 130 years, the firm operates in more than 100 countries. Direct Sales is the method adopted by the company to distribute its offerings in these countries. Effective sales representatives are hired to sell the offerings directly to the customers. It allows the company to briefly explain the advantages of choosing their products over other competitive firms.

PROMOTION

The firm focuses on television and print media to promotes is diversified range of premium quality products. The strategy behind this method is to cut the cost of marketing and promoting the offerings.

For effectively promoting its products, Avon uses competitive advertising to build a stronger brand image in front of its customers. For enhancing the popularity, the firm has several ambassadors for instance, Lauren Conrad, Lucy Hale and so forth.

PEOPLE

The organisation has more than 1,000 employees to support the company in becoming a market leader. Effective training and development programmes are conducted by Beauty Giant to make them competent to address the needs of the firm according to the business environment.

The company has more than 10,000 employees which are skilled and talented. The recruitment and selection procedure of the firm focuses on hiring creative staff with innovative capabilities. The firm as approx. 6.5 million independent active Avon Sales Representatives (Avon Products, Inc, 2018). These employees focus on effectively selling the firms offerings to wider range of customers.

PROCESS

The company adopts indirect distribution channel to acquire the products from other companies and sell them in their outlets. To enhance the procedure and ensure safety of the products, the firm keeps close monitoring on the channels and switches them if the need arises.

For production, the firm uses both the company-owned manufacturing as well as third-party manufacturing facilities. The inclination is majorly on the firm-owned facilities but the firm works closely with third parties to supply remaining products. Also, to ensure customer safety, the firm has global quality and safety assurance policy and their products are made in compliance with the local and international regulations.

PHYSICAL EVIDENCE

The firm sells products of the renowned companies in the UK. Firm makes sure that the products are easy to handle and all the necessary information about the usage, expiry and other specifications are quite clearly mentioned. Furthermore, the company outlets are easily located and accessed and customers could locate their desired products quickly due to proper arrangements.

Avon has its market in almost every major country. Through direct sales, the firm is successful in penetrating markets of many developed and developing countries where outside firms are restricted to operate. E-commerce websites and mobile applications are being developed to supply the commodities by the company at a much wider range.

Marketing Plan for Forever Young

For any organisation to sustain and grow in foreseeable future, it is essential that the company introduce a new and innovative product that could answer the unaddressed needs of the customers (Rudden, 2016). As per the scenario, Beauty Giant wishes to become a market leader and expand its customer base. To achieve this, the company is developing a new product by the name of “Forever Young”. It's an anti-ageing product and possibly first of its kind in the UK.

Marketing plan for this new product is described below:

Company Overview:

Beauty Giant is a cosmetics and toiletries organisation operating in UK. The company sells commodities of various renowned companies of the world. So far the firm has 50 branches in the country and it aims at penetrating deeper markets of the nation.

Vision and Mission:

The vision of the company is to become a market leader in the cosmetic industry of the UK whilst being the first preference for customers all over the country. To achieve this vision, the mission of the firm is to effectively develop, market and sell Forever Young to ensure customers of its high-quality production capabilities (Dessain and Zeuch, 2015).

Strategic Objective:

With Forever Young, Beauty Giant aims at enhancing 4.5% profitability in the UK market along with 15% rise in the number of customers within 7 months of the product's release.

Products and Services:

The firm acts as a distributor for the products of some of the most famous cosmetic brands all over the UK. The products includes cosmetic and skin care products as well as toiletries for both men and women of the country. Forever Young would the first product developed by the firm and it aims at making it one of the most successful and useful products in the market.

Market Research:

For its new product, Beauty Giant has extensively researched market of the UK. The company has adopted primary research methods like surveys, focus groups, interviews, observation and so forth (Caragher, 2016). Through research Beauty Giant analysed that there was a need for an anti-ageing product in the market that could be affordable for the public.

Target Market:

The approach of Beauty Giant to determine the potential target market for Forever Young was a standard approach that is described below:

Segmentation: The firm for its new product has divided the market in groups or segments based on various factors which are mentioned below:

  • Geographical:United Kingdom
  • Demographical:General public above age 30 and below 65, with earning more than 5,000 pounds yearly, having any decent occupation.
  • Behavioural:Since Forever Young is a new product, the firm divides a segment of current and potential users as well as first time users.

Targeting: Out of the above segment, Beauty Giant would target the urban areas of the UK, with women above age 30 and below 65, earning at-least 5,000 pounds yearly who haven't yet applied any anti-ageing product.

Positioning:The company outlets would be a perfect way to position the Forever Young, however, the firm is planning to go online to make this product sell overseas as well (Critchley, 2018).

Marketing Mix:

Beauty Giant is aiming to effectively use marketing mix to maximise the sales of Forever Young, its tactics are described below:

  • Product: With an anti-ageing product, the company aims to enhance the experience of women in the UK markets of using cosmetic products. It would allow the users to improve the quality of their skin and would reduce the skin problems that unnecessarily adds to the ageing factor.
  • Price: The firm wishes to apply moderate pricing so that more customers to purchase the product. The emphasis of keeping such a price is that there is no competition in the UK market which gives enough liberty to the firm to adopt such price for the commodity.
  • Place: Apart from factory outlets, the company is planning to launch a website and mobile application to make Forever Young available to customers beyond the boundaries of the country.
  • Promotion: Along with the standard print and television promotion, the firm will be using social media as well to promote this unique product in the market (Zeuch, 2016).
  • People: New staff is being hired specifically for this product who will be undergoing various effective training sessions to ensure the high quality of Forever Young.
  • Process: New and advanced technological equipments and techniques are being used to produce this product. This would enhance the production capacity without adding to the cost. The firm could also reduce waste that would help in fulfilling its Corporate Social Responsibilities.
  • Physical Evidence: Containers of Forever Young would be easy to handle with every information prescribed in detailed. The firm would also enclose an instruction manual to make customer familiar with its application and usage.

Marketing Budget:

PARTICULARS

First Year

Second Year

Third Year

FourthYear

 Fifth Year

START-UP CAPITAL

6000

9000

13000

14000

16000

INVESTMENT

4000

6000

6000

6000

9000

TOTAL

10000

15000

19000

20000

25000

MARKETING OUTLAY

 

 

 

 

 

MARKETING

7000

8000

7500

13000

15000

PUBLICITY

7000

10000

9500

11000

11000

TOTAL

14000

18000

17000

24000

26000

Conclusion

From the report above, it is rightfully concluded that marketing is the most essential activity that must be undertaken by the organisations to sustain and enhance their business performance. Marketing department is responsible for developing internal and external relations of the company which are necessary for long term success. For developing competitive and effective strategies, it is very important that the marketing department of firms interrelate and support other functional departments. 7Ps if marketing would enhance the way offerings are presented in the market. Lastly, to successfully establish a new commodity in the market, it is of vital importance, that the marketing plan is effective and include strategic tactics of the marketing mix.

References

Books and Journals

  • Baker, M.A. and Magnini, V.P., 2016. The evolution of services marketing, hospitality marketing and building the constituency model for hospitality marketing. International Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
  • Caragher, J.M., 2016. 7 Essentials for a CPA Firm Marketing Program. The CPA Journal. 86(12). p.11.
  • Critchley, S., 2018. Dynamics 365 for Marketing. In Dynamics 365 CE Essentials (pp. 575-599). Apress, Berkeley, CA.
  • Dessain, N. and Zeuch, M., 2015. Human Resources Marketing and Recruiting: Essentials of Recruiting Events. Handbook of Human Resources Management. pp.1-10.
  • Gillespie, K. and Riddle, L., 2015. Global marketing. Routledge.
  • Griffitts, M., 2016. Human resources marketing and recruiting: Essentials of internship management. Handbook of Human Resources Management. pp.103-118.
  • Kladou, S. and et. al., 2016. The role of brand elements in destination branding. Journal of Destination Marketing & Management.
  • Larson, J. and Draper, S., 2015. Internet Marketing Essentials: A Comprehensive Digital Marketing Textbook. Stukent, Incorporated.
  • Mueller, J.P. and et. al., 2015. Community‐based livestock breeding programmes: essentials and examples. Journal of Animal Breeding and Genetics. 132(2). pp.155-168.
  • Pike, S., 2015. Destination marketing: essentials. Routledge.
  • Puddle, T., 2015. Marketing essentials for veterinary practices. In Practice. 37(5). p.259.
  • Rudden, D., 2016, November. Can You Hear Me Now? Marketing Essentials for Audiologists in a Noisy Health Care World. In Seminars in hearing (Vol. 37, No. 04, pp. 325-339). Thieme Medical Publishers.
  • Soboleva, Y.P. and et. al., 2016. Managing Regional Consumer Market Based on the Improved Approach to Evaluating Customer Needs for Food Commodities. Journal of Applied Economic Sciences. 11(8). p.1681.
  • Walliman, N., 2015. Social research methods: The essentials. Sage.
  • Zeuch, M. ed., 2016. Handbook of human resources management. Springer Berlin Heidelberg.

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