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Marketing Process & Function of Beauty Giant

University: UK college of Business and computing

  • Unit No: 2
  • Level: High school
  • Pages: 15 / Words 3804
  • Paper Type: Assignment
  • Course Code: R/508/0486
  • Downloads: 44
Organization Selected : Beauty Giant
Question :

In role of marketing managers it is been demonstrated with some questions given as under:

  1. Explain Role of marketing mix in Beauty giant with given functional unit.
  2. Elaborate marketing mix of 4 or 7 p’s on Beauty giant.
  3. Make a marketing plan of Beauty giant.
Answer :

INTRODUCTION

Marketing can be defined as such an activity or a process that starts with the need of any product with respect to satisfy the increasing need of consumer (Pike, 2015). The below project report focuses on the activities and strategies of marketing. In this assignment is with respect to a cosmetics company- Beauty Giant. Report focus on the various roles and responsibilities that a company is required to undertake with motive of reaching the new heights (Smith and Wong, 2016). Moving further, the project, emphasize on various P's that the organisation should focus on and maker the products accordingly. Finally, on a marketing plan, according to which the company set its goals and has to achieve its target.

P 1. Roles and Responsibilities of Marketing Function

Marketing is the term which can be defined as an activity based on the need of the customers and their satisfaction (Smith and Wong, 2016). Marketing is different from selling. Because selling is a concept in which organisation sell their product in cash and give services to the customers (Smith and Wong, 2016). The customer buys the product in cash for their needs and its satisfaction. The marketing is the word in which the business activity must be done to sale and promote their business for making position and profit.

The company Beauty Giant have to launch a new product in the market. The name of the product is Forever Young. This product the anti ageing product of the company which company have to bring the new product in the market.

Function and the key role and the responsibilities of the marketing are described as below:

  • Research and analysis :The main role of marketing in Beauty and Gallant is to Research and analysis the information. Research and the analysis this is the main tool of the marketing may be help to organisation to find and gathering the information about our clients and the customers which thing they must need to satisfy them selves (Rowley, 2016). Research may help Beauty Gallant company to find a lot of the information about needs of consumers and market situation
  • Marketing planning :- Before the organisation Beauty Gallant bringing their product in the market firstly the company have to make proper plan about it. In their plan the organisation have to be set up that from which by which step they launch their project in the market due to the customers or clients must be impressed. A proper planed helped the most to company to make the position in the market (Rowley, 2016). While bringing the product in the market the organisation have must to prepare to plan in respect to the level of the production and promotion reports.
  • Product designing and the development:- The product of the Beauty Gallant company is the Forever Young the anti ageing cream (Brady, 2014). The product design and the development is the most important feature because if organisation have to sell product more in the market then company has to make product much better and the attractive from which the client or the customer must be attract by our product. And this feature may be help to the business to increase profits (Brady, 2014).
  • Standard and Grading:-It is another role of marketing, The Standard and grading it is the concept of marketing in which Beauty gallant have talk about the product quantity, quality, design, weight, colour, raw material to be used in the making form of the product (Huang and Sarigöllü, 2014). This type of the sale have must be done by the traders at the number of larger purchasing or as the sample in the quantity. Product must be have some qualities and their characters due do which is the clients like the product they will give the rate or the grade to the product which is known as the grading (Huang and Sarigöllü, 2014).
  • Packaging and Labelling:- The another feature of the marketing Packaging and labelling. The Beauty Gallant company should been done packaging very tightly and strongly because if the packaging it must not be done in the proper form then it may be give the problem in the time of the transporting. Packaging must be done in the form of the wooden boxes , bottles, plastic bags, jute bags etc.
  • Labels:- Through marketing The Beauty Gallant becomes able to make its logo as per their labels (Fan, Lau, and Zhao, 2015). It may also be provides the knowledge to the client and the customer because all the description must be written on the label. The organisation show that the product detail to show the quantity, quality, and the description of the product must be done on that tag about product (Fan, Lu, and Chaos, 2015).
  • Pricing of the product:- Pricing of the product it is the most important key of the marketing because it affects the customer (Loo and Lung, 2018). The price of the product decide by the organisation while keep the customer in the mind. It can be affect the seller in the many forms are in the form of the government policy, competitor pricing. The price of the product have must be set-in the mind by keeping the customer in the mind.
  • Promotion:- Marketing is responsible for promoting brand and products. Promotion it is the concept from which the organisation can attract the clients or customer to buy their products (Loo and Leung, 2018). The Beauty Gallant company done the many types of promotion in many types just like advertisement which brings the image and advertisement in front of the client .

P 2. Roles and Responsibilities Of Marketing

Each and every department, marketing department is also having certain roles and responsibilities which are required to be fulfilled by the organisation in order to fulfil its duties towards the Society (Loo and Leung, 2018). Fulfilling responsibilities towards the society is also known as Corporate Social Responsibility. In order to accomplish certain tasks an organisation should do research work to identify the potential markets with respect to company products (Kraak and et.al., 2017). Markets, that provides an opportunity to the company to grow and achieve a desired target and goal.

Beauty Giant is a company, that provides beauty products to all those potential customers, who are seriously concerned regarding their beauty. Company provides, beauty products on the basis of gender (Kraak and et.al., 2017). Company is making completely different products for the females by the score of their skin is soft and the biological properties of every individual is completely different. Beauty Giant is also offering anti - ageing products to all those group of individuals who are in aged especially ladies who are at the age of 40-50 and above.

The Toughest competitor of beauty Giant is Fair and Lovely (Sinapuelas, Wang, and Bohlmann, 2015). This company is making its products only and only for the Female segment. So, only for setting a benchmark in front of all the competitors the organisation is just trying its hard to follow the below tasks:-

Listening To The Needs Of Customer:- This is really very essential for a company to listen the needs of its customers by the score of customer is the king of market in the actual sense (Sinapuelas, Wang, and Bohlmann, 2015). To cater the needs of customer, company has to make products with the motive of satisfying their needs. If a company wants to make its roots in the market and to be in good books of consumer then, it's the duty of company, that, it observes and read the mindset of consumers (Becker and et.al., 2018). Beauty Giant is practising this responsibility so that, it can withstand the corporate world.

  • Internal Channels:- Survey is being done along with the researches and on that basis sales team takes the desired action.
  • External Channels:- This is such a channel that, is focusing on promoting and advertising of company products on the social media with aim of reaching to large no. of mass in the nation.

Tracking the Current Trends:- It is very essential for a company to keep a sharp track on the trending things in the market that can influence its products in no. of ways (Becker and et.al., 2018). Company should also keep a track on its competitors regarding the strategy they are following to promote their products; the schemes they are working on/ offering the customers with the aim of grabbing a bigger market share.

Innovation:- It could be in any sense, regarding the product, the quality, size of product, anything. Company should focus on making its customers surprise. If the customer is thinking for the purchase of any product of company, and that too in small packing then, the company, by offering and launching it in the market, can make the customer feel surprised. Beauty Giant has launched its products in different sizes as per the customer need (Mintz and Currim, 2015).

Help In Improving Sales Process:- It is also a major responsibility of a company. Beauty Giant is also trying to improve it sales process by delivering the customer related products directly, to customer through different channels.

Roles of marketing in context of B2b is sales entablement, demand generation and awareness through outbound marketing messages and campaigns.

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P 3. Application Of Marketing Mix To Planning Process

After the development of marketing strategy, an organisation has to work on the concept of "Seven P Formula".The seven P formula is having a very crucial role in making the marketing mix essential and also in the evaluation and revaluation of any activity of business, which is required to be bring in process. Now, 7 P's of marketing are as follows:-


Illustration 1: 7 P's Of Marketing

Source: (7 P's of marketing, 2018)

Marketing mix

Beauty Giant

Fair And Lovely

1. Product:

The company/organisation, before making the product, should think about, how the product has to be designed/manufactured in order to keep in mind the needs and demands of his ultimate consumer. After the product is ready, company should think on the ways' consumer will go to use its product. Company should always keep an eye on the products of its competitors that they are manufacturing. Beauty Giant also follow such practices with the motive of knowing, whether they are having any competitive advantage in the market on the rivals.

No such practices are followed.

Pricing

This is the second most important P, in this formula. The pricing of the product should be such that, every consumer should be able to afford it. If the price of product would be too high then, the consumers of lower and middle segment would not be able to afford it. On the other hand if the price of product would be too high, then, the organisation would suffer severe loss and there are chances that, it may, have to take exit from the competitive world. Beauty Giant, has kept the prices of its products according to the segmented market. It has adopted skimming pricing strategy. It has divided its products as per the needs and affordability of the targeted customer group.

 

It adopts competitive pricing strategy.

Place:-

It is third most important factor in the formula. It refers to any particular place, from where, the product/service would be actually, sold to the customer. The company personnel, will take the report of product which is being sold by the whole sellers/retailers appointed for selling the product ultimately to consumer. In this case, the Beauty Giant, has also appointed different whole sellers as a distribution channel at different localities, to get the products delivered to the customer. Now, this can be done in different ways by the company. Company can send their sales person for delivering the product with motive of accomplishing dual purpose:- 1.) Product Delivery and 2.) Also to get the feedback of product from them.

 

It directly, sells the products to the dealer and sometimes to the retailers.

Promotion:-

Fourth most important factor in formula. Beauty Giant is following this strategy with the motive of promoting the product more and more and making the reach of product, to each and every place and in the reach of every person. The company is giving more focus on the beauty products and for its marketing and promotion, this beauty firm is taking the help of female candidates. Company is also trying to promote its product on the social sites by doing different campaigns and promoting the products in a different and innovative way.

It uses only personal selling and T. V. advertising.

People:-

It is the fifth important element in the formula. If an organisation is making something for its customers then, there should be someone who is ready to purchase the products of company. It happens in case when the company has made the products for its customers but, people are not ready to purchase the products because of some or other reason. Rather than this, company also needs people who can deliver the product to the client. Not only this, customer plays an important role in building up relationship with the customer.

It uses only salesperson as a weapon.

Process:-

It refers to the proper system and process of organisation that affect the execution of any service. So, it must be ensured by the organisation that, a perfectly tailored process should be followed so that, no error takes place at time of distribution of the products. Beauty Giant, is focusing on the proper process of distribution of any product/services so that, cost can be lessen down. Tweaking and enhancements can lead to deduction of costs and maximization of profits.

It uses mass customization.

Physical Evidence:-

It means, to have a proof regarding the product or service has been delivered to the client, Now, Beauty Giant after delivering the product, just mark the product that has been delivered and take the signature of its client.

It is doing paperwork.

P 4. Evaluation of Marketing Plan

Beauty Giant has framed marketing plan in such a way, by focusing on following points with the motive of successfully promoting business (Mintz and Currim, 2015).

Marketing Objective/Mission:- Main motive of marketing is to identifying the needs and demands of its customers. It could be done more effectively by observing the needs of to be customer by doing research in that targeted area (Mintz and Currim, 2015). Actually, it is the basic function of any organisation in the society and satisfying its needs to the fullest.

Mostly, the companies target a particular segment of customers and design the products accordingly like :- Beauty Giant has targeted, female customers for its product. Second, most important thing is, it should keep in mind what is actually, to be delivered to the consumer. Finally, knowing the outcome/response of customer is very crucial for the company.

SWOT Analysis:- For every company, doing SWOT analysis is very important. Strengths and Weaknesses are the internal matters of company (Cooke, 2015). In case of Beauty Giant, its strength is manufacturing of chemical free beauty products without use of any extraneous harmful substances in it. Weakness is, it has to sell its product at some loss% because, customers in rural areas are not well educated and in urban areas its costing in respect of advertisement is quite high (Cooke, 2015).

Opportunities and Threats are completely external. Beauty Giant is, having a huge market in rural areas as well as in urban because, people over there are using products of companies that are not suitable for the skin, and causing skin problems to them (Cooke, 2015). On the other hand, entry of rivalries, in this field, is about to increase. So, it's a big threat for the company to make some suitable changes in its product that help them to sustain in the competitive market.

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4 P's Of Marketing Mix:- The 4 P's of marketing mix are:-

Product:- It means the product which company is trying to offer ton its consumer should be tangible, i.e. it should be something which could be easily touched, feel and seen. Or the intangible services like:- IT and Tourism Industry. It also includes:- Brands; Services And Packaging (White and et.al., 2018).

Price:- It determines the cost of that product, that the consumer is willing to pay with motive of buying that product. It is determined by the forces of demand and supply. The higher the price, consumer won't be able to buy it. The lower the price, the seller will have to incur losses (French and Russell-Bennett, 2015).

Place:- It is something, from where the buyer can easily purchase the goods (Alserhan, 2017). It also includes:- channels of distribution.

Promotion:- It is the one, where marketer provides information regarding the product of company to the consumers by different means of promotion:- advertisement, publicity and sales promotion (Alserhan, 2017).

Target audience: An organisation is offering the beauty products, it can target both adult men and women.

Segmentation : Business entity can utilise demographic segmentation strategy for dividing the large market into small segments.

Targeting : An organisation can utilise undifferentiated strategy for targeting the specific customer group. An enterprise can utilise one marketing mix for all customer group.

Positioning strategy : beauty giant can position their products or services in niche market, as this strategy will assist them in eliminating the negative effect of competition on business.

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Marketing budget :

 

Marketing expenditure

Jan

Feb

March

Quarter 1 total

Online

$1000

$1000

$1000

$3000

catalogues

$2500

$1500

$1250

$5250

Conventions

$1500

$2500

$3500

$7500

Trade shows

$1000

$850

$500

$2360

Print

$1000

$1350

$1250

$3600

Radios

$500

$750

$500

$1750

Promotions

$500

$650

$500

$1650

Publications

$1500

$2500

$1500

$5500

Sales training

$2000

$1750

$2000

$5750

Magazines

$700

$350

$700

$1750

An organisation has spent on marketing in quarter 1 during Jan is $12200, Feb = 13200 $ and March 12700 $. Total marketing expenditure made by organisation in first quarter is 38100$.

Firm sales during first quarter during Jan is $ 375000$ ,

Feb is $ 400000$

March is 4250000$

Total sales of company during first quarter is 1200000 $

Marketing as a percentage of sales Jan = 3.253%

Feb = 3.300%

March =2.983%

Monitoring and evaluation : There are various techniques which can be utilised by marketing manager in an organisation for evaluating the result of marketing plan these are sales analysis, market-share analysis, efficiency ratios and cost-profitability analysis. From the market share analysis it has been found that in 2017 market share of an organisation was 36 percent which has increased by 12 percent in 2018, this shown the effectiveness of new marketing plan.

CONCLUSION

The report concludes that the following report is made on Beauty Giant that follows 7 P's of marketing and is very effectively following the marketing plan. Assignment further includes, roles and responsibilities of marketing and also its functions in respect of organisation.

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