Case Study Analysis of Beauty Giant

TASK 1

P1: Roles and responsibilities of marketing function

Marketing refers to the process of building brand image of company through reaching company's products and services to different market segment with an objective of attracting and influencing them in favourable of company's offerings. It executes various functions such as marketing research, advertising of products and services, assisting other departments to make changes in their existing policies according to the needs and requirements of targeted people etc. There are different kinds of marketing concept which includes production concept, product concept, selling concept and marketing concept (Campbell and Martin, 2015).

In production concept, the main emphasis of company to minimise the cost of production so that the company can able to charge an affordable prices for their products as well as earn huge profits. It can be possible by utilising available resources in an optimum manner with minimum wastages.

In the product concept, main focus of firm is to enhance the quality of product which will bring beneficial outcome to users and maximise their satisfaction level. Introducing product according to needs and demands of targeted people with best quality can increases the chances of getting success within shorter period of time.

In the selling concept, the firms put more emphasis on investing high amount of money in promotional activities such as advertisements on TV, Hiring celebrities, newspapers etc. so that it can support company in achieving huge sales and revenue.

In the marketing concept, the firm make efforts in conducting research in order to identify actual needs and requirements of targeted customers in addition with the rival's competitive strategies which makes easy for marketing manager to make changes in their existing strategies if required to bring company ahead in the competition.

In the societal marketing concept, the marketing department put more emphasis on increasing the interest among society through protecting environment by offering eco-friendly products in the market. Engaging in CSR Activities also assist company to achieve strong brand image and reputation in customers' mind (Dibb and Simkin, 2013).

In addition with above marketing concept, the marketing departments executes various marketing functions in modern organisation which includes:

Identifying the targeted market with an aim of fulfilling their needs and requirements by offering quality products and service is one of the primary function of marketing unit. It can be possible through conducting market research and survey through which an organisation can easily understand the desired and preferences of targeted people. It provides an opportunity to modern organisation to maximise the satisfaction level of customers and achieve their loyalty with company for longer period of time.

Another function of marketing is to monitor and manage marketing activities using digital technology such as social media which assist organisation to increase their reach to attract maximum number of people from various markets within shorter period of time. As nowadays large number of people are active on social media which makes easy for company to communicate and inform them about their offerings in favourable way.

Another function of marketing is to track trends and monitor competition in order to bring company ahead than their many rivals in market. There are number of organisations are exist in market which gives tough competitions with each others by providing wide range of products therefore tracking market trends and monitor competition by market team assist organisation to make changes in their existing policies and strategies to bring market trends in favour.

Preparing marketing budget to execute marketing activities mentioned under the marketing plan is another marketing functions of modern organisation. For this, aims and objectives of organisations are clearly identified among the team division so that they can allot roles and responsibilities to marketing members and assist company to achieve its desired goals within predetermined time period with the help of other departments (Desai, 2013).

P2: Interrelation of marketing function with other functions

In modern organisations, there are various department which supports maximum efforts and contributions towards achievement of growth and success. It includes HR department, Finance, production etc. These all divisions work with the taking support of each other. Therefore, marketing division can perform its functions in more desired way only if they received abundant support from other departments. It is further understood as under:

Marketing and production division are interrelated with each other in terms of delivering products and services to the targeted customers in more effective way. Marketing team is liable to communicate with production team about the market needs and requirements on the basis of which the production team directs to produce demanded products with requires features. Furthermore, production divisions also depends on marketing to inform targeted people about the new changes made in products with an objective of influencing their buying behaviour towards company's offerings.

Another interrelation is in between marketing and finance as both departments can execute its operations with the taking support of each other. Marketing requires budget to promote company's products and services which can be possible through having financial support from finance division. On the other hand, marketing unit also assist finance division to maintain adequate level of funds through attracting investors by ensuring them about maximum return on their investments (Fill, 2011).

The third interrelation is in between marketing and HR department as an organisation can attained skilled and knowledgeable staff only if these two divisions performs together. HR manager recruit candidates on the basis of requirements at workplace. For this, it requires support from marketing unit to attract eligible candidates for the vacant job position by printing advertisement on social media, Newspapers etc. about job vacancy along with person specification and job details.

Therefore, all departments engaged in supporting organisations to achieve its desired goals and objectives within pre-determines time period, it is important to give mutual support and coordination so that no hindrances can be restrict company to achieve competitive advantage in market.

TASK 2

P3: Comparison of 7P's of marketing mix in organisational context

Beauty Giant is a UK-based company which is engaged in selling toiletries products for both men and women with the help of 50 branches allocated all over the UK. The company always encouraged to produce products on their own without selling other products. For this, the management of Beauty Giant required to develop its marketing mix with the help of making comparison with the marketing mix of other companies engages in same sector. Marketing mix is a concept which determines the several elements of company including product, price, place, promotion, people, process and physical evidence. It is associated with the implementation of various strategies before introducing of new product in the market to meet the customers' needs and requirements. Here are the comparison between marketing mix of Beauty Giant and its rival Yardley:

Marketing mix of Beauty Giant:

Product: It is small-sized company which is engaged in selling wide range of cosmetic products such as Brushes, facial mask, curl lash, make-up etc. Now the decide to produce product on their own without selling others brand products. For this, the manager decide to introduce new produce “Forever Young” to target 30+ age group people. It helps them in achieving huge loyal customer base which can be retained with company for longer period of time (Jones and Rowley, 2011).

Price: It is crucial factors which largely influences the interest and buying behaviour of targeted people as nowadays the people are more price sensitive due to which they prefer to buy particular products at reasonable price. To introduce new product on their own, Beauty Giant should adopt Penetration pricing strategy which allows its targeted customers i.e. 30+ age group to buy their products at an affordable price. By using such pricing strategy, the company lowering their price of new product and accordingly increase over a period of time.

Place: Beauty Giant has operated its business in UK with having 50 stores located at different locations of UK. In United Kingdom, the economy growth goes up on continuous basis due to which the people can afford more to buy grooming products. This will bring profitable outcome for company in term of achieving sales of new product.

Promotion: It is an essential technique through which new product can easily promote in the market. Such techniques includes social media platform, TV advertisements, Newspapers etc. As Beauty Giant is operated its business at small scale due to which social media marketing become more useful for them to promote its new product with less time, money and efforts. This will provide an opportunity to promote its new products along with their benefits and influence their buying behaviour which makes positive impact on the demand in market (Joshi, 2012),

Process: It includes the procedure of delivering the final products to the customers. Beauty Giant has numerous stores in UK which makes easy for its targeted customers to buy their products nearly to them. For launching and delivering new products, Beauty Giant should maintain good supply chain network which includes transportations of products and services.

People: It includes the employees which supports an organisation in achieving their growth and success within limited time period. To launch and communicate targeted customers about its new beauty product, it is important for the management of Beauty Giant to recruit skilled employees having good market knowledge so that new products can be easily enter into market without facing lots of troubles. In addition with this, providing training programs to staff is another method which can help in promoting new product into market.

Physical evidence: Beauty Giant has attained 50 stores in UK itself which clearly shows the strong market present of company in UK. To achieve sustainability of its new product, the company must use suitable lighting and ambience in the stores in order to create positive impact on targeted customer's mind which results in increasing profitability of company.

Marketing mix of Yardley:

7P's of Yardley

Products: Yardley is a big and well known old organisation in cosmetics who is providing a wide range of products such as toiletry products, body wash, fragrances, cosmetics, soaps, Oral care, talcum powder etc. for meeting the needs of customers in order to gain productivity and profit (Marketing Mix, 2018).

Price: Cost-plus pricing is used by Yardley for their wide range of products. It means that company is deciding price based on the cost of total production and margin on those products. Company is using this strategy because of the excellent quality of raw materials which are used in producing quality based products. Target audience of Yardley is upper and middle class people especially women hence, the prices are set keeping in mind of these targeted audiences. The price of products is comparatively high than competitors due to the excellent quality of produced goods (Kennedy and Parsons, 2014).

Process: Updated tools and equipments are used by the company in processing and production process with adequate packaging and supply activities. Yardley had spent good amount of money in R&D operations for achieving high growth and sustainability in the market through automated process for providing better quality of products.

Promotion: Yardley is spending nice amount of money on advertisement and promotions for enhancing their customer base. Yardley is keeping strong relations with their customers bu using different policies and marketing techniques. Yardley is using digital media such as social media, TV, posters for promoting their goods through celebrities.

People: The employees of Yardley are very talented and skilled in doing their activities and can easily influence the behaviour of customers to purchase the product. The behaviour of workers is very nice and caring in serving the customers with their quality products. Company also provides training and other programmes to the employees for increasing their skills.

Place: Yardley is a MNC with operations in various countries such as Asia, Middle East, Australia, Europe, USA, and some parts of Africa. Their marketing and distributing strategies are attracting more customers. Any distributor can contact Yardley for taking their franchisee. Company sold products through their stores, retail outlets and online stores (Khan and Adil, 2013).

Physical evidence: The appearance of the Yardley stores and other retail outlets of theirs are very attractive which helps in attracting potential customers. Company leaves a positive image in the mind of customers due to the lighting, ambiance, and clean environment.

TASK 3

P4: Basic marketing plan for Beauty Giant

It is necessarily required for every organization to formulate an effective marketing plan which consists of company's mission, vision, objectives, Strength and weaknesses etc. It is more helpful in providing suitable guidance and direction to the employees to execute business activities in desired way which ensures company to achieve its desired targeted within per-determined time period. It is like a blueprint which describes the sequence of marketing and promotion activities that must be followed by the management of company. To achieve their product more success within shorter period of time, Beauty Giant is required to prepare marketing plan which are structured as under:

Company Background: Beauty Giant is UK-based company which is operated its scale of operation at small and medium level. It is engaged in offering cosmetic products which consists of brushes, facial mask, curl lash, make-up kits etc. It has attained 50 stores in the UK itself which strong their presence in UK Market. Now the company has decided to engage in manufacturing sector by producing new product names as “Forever Young” to target 30+ age group customers (Ogunmokun and Tang, 2012).

Vision: “To maintain healthy relationship with the end users in order to achieve a new standard in the cosmetics industry through offering quality products and services.

Mission: “To provide excellent quality products at an affordable prices so as to attract middle and lower income group people”.

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SWOT Analysis of Beauty Giant

SWOT analysis: It is a tool is used in planning and focusing on issues made by the company in leading with marketing concepts. This plan is based on identifying strengths weaknesses, opportunities and threats. Beauty giant uses internally strength and weakness. The external factors are opportunities and threats. This is a way in finding positive and negative of both the factors are stated below.

Strength:In marketing concept company Beauty Giant has dealing with new product i.e. Forever young. An organisation has courageous environment and having process and procedures with high quality. They are leading with high level of production.

Weaknesses:Beauty giant is producing poor quality of products in market place by which reducing level of reputation. In making product Forever young the company is not making correct differentiation in product with their existing competitors. In this, their having large number of competitors in marketing place. Company used to lead productivity in order to give highest production on the basis of competition level.

Opportunities:In this, organisation is using online sources for making attraction and strategic alliances in their use. Beauty giant is delivering its products in international market by achieving profits. For making Forever young product popular in market operations in moving with different segments.

Threats:Beauty giant company faces price wars with competitors. Their are having many of the new competitors involving in market trends. Accessing channels of distributions with superior competitors.

STP of Beauty Giant

Segmentation: Beauty Giant divides the clients based on demographics. But in addition with this an organization can likewise utilize geographic and pshychographic division.

Targeting: Beauty Giant is targeting ladies and men of age more than 30 for their new anti-ageing product.

Positioning: Company is utilizing a few procedures for drawing in the focused on targeted segment. The organization has built up a positive brand picture in the UK market and according to their end clients by offering great quality items from best manufacturers.

Marketing strategies:

Beauty Giant should make and actualize proficient advertising approaches and techniques for achieving the coveted objectives of the organization on the predetermined time. Relationship marketing will be the most reasonable marketing strategy to embrace for expanding the client dependability and client association for a long term commitment among clients and company.

Marketing Budget:

Monitoring and control:

This perspective feature distinctive measures apply by marketing manager with the end goal to look at the outcomes after execution of advertising techniques. One of the fundamental advantage of controlling is that it help administrator in distinguish and expel the gap among standard and genuine execution and enhance adequacy of business activities.

CONCLUSION

It has been concluded from the above project report that there are crucial marketing functions which must be followed by the marketing departments in order to increase the capabilities and brand image of company into market. For this, marketing division must required to coordinate with other department in order to execute its important functions in more effective and efficient way. It is also required for an organization to prepare an effective marketing plan in order to guide employees to perform its roles and responsibilities in such an effective manner that will help an organization in achieving desired goals and objectives.

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