Doc701 mod 01 | Business & Finance homework help

[ad_1]

There is need for investigation on how various marketing activities can be used to propel the company towards the right direction in terms of growth and progression of its businesses. The company requires the integration of technological and innovative developments to improve the operations within the marketing department (Pantano, Bassano & Priporas, 2018). Otherwise, it is entirely possible that performance may worsen with the competition making aggressive moves all over the industry. Larger organizations such as L’Oréal and Unilever have been continually dominating the market while smaller entities such as French Girl Organics keep making ground (Pantano, Bassano & Priporas, 2018). It will potentially be devastating for House of Bellezza not to put necessary measures and initiatives in place to promote the marketability of its products and services.
Association between research and field of study. The research problem is established on the improvement of the business performance of House of Bellezza across various markets that are involved in the beauty and cosmetics industry. The essence in this case is in ensuring that the organization can grow and develop beyond the circumstances in which it subsists in now. Generally, it has fared relatively well ever since its inception, but the current rate of growth and performance has stalled. The focus of the study is on figuring out how the organization can sustain a steady growth as the years go by. It is about ensuring that House of Bellezza will improve its performance through integrating the proper business and marketing initiatives. Beauty and cosmetics industry have proven to be overly competitive in recent times which means that the market is technically more challenging to penetrate and expand (Pantano, Bassano & Priporas, 2018). The key is devising the appropriate strategies that can propel the development of the company.
The improvement of business performance is one of the main aspects in business administration (Qin, 2018). Generally, the performance relies on various facets and fields within the scope of operation of an entity. In the case of House of Bellezza, there are numerous features that factor in the performance of the organization. Ideally, all features within the company are integral in its overall performance. The various parts of the business combine the different practices and processes to come up with the product and services. The successful realization of these goals is dependent on feasible administration and management of business (Morgan, Feng & Whitler, 2018). Therefore, business administration stands as the field that is virtually most relevant in carrying out the research. The field encompasses all elements that can and should be effective in enhancing the business performance of House of Bellezza. The focus of the field ranges from administration of physical features, financial matters and accounting to sales, research and development, information technology and marketing (Ermakova et al., 2016). Some of the main functions that fall under business administration entail planning, organizing, coordinating, and controlling the activities involved in the business (Aydiner et al., 2019). It holistically covers all major aspects of business.
The fact that business administration encompasses all aspects of any given business means that the field of is essential in addressing different problems that may be associated with the functioning of House of Bellezza. Thus, it is quite relevant for application in the research and provides the premier opportunity to answer the research problems. It covers the necessary areas of expertise and operations and provides diverse knowledge that is integral in conducting the research proposal. The connection between the research problem and business administration shows that the proposal falls under the scope of the field.
Association between research and area of concentration. The performance of House of Bellezza has mainly stalled as depicted by lower movement and purchase of its products. The clientele base has for the most part remained the same or shrunk in some cases. This is an indication that the reception of the company’s products does not reflect the initial phase whereby the growth was majorly positive. One of the reasons for this outcome could be a decline in interest of the products of House of Bellezza. The decline may be influenced by increase in competition or quality of products that are in the market (Jones, 2010). As time progresses, the desires or preferences of customers also shift. The role of the proposal is to examine the nature of performance of the company in the global market and determination of the ways to change the narrative as far as recent performances are concerned. The essence is in making the products more desirable and accessible to the customers.
The focus of the research is on making the products more marketable to the consumer base. The aim is to ascertain that the clientele base keeps growing. This point of view brings the focus on the area of concentration which is marketing. Marketing essentially entails the activities and initiatives that House of Bellezza incorporates in its operations to promote the sales of its products and services to its customers and potential consumers (Morgan, Feng & Whitler, 2018). Marketing covers more than just the process of promotion. It covers all the aspects and integrates the delivery of products. At its core, it covers the aspects of marketing mix which include product, price, place, and promotion (Mix & Brand, 2017). Products cover the general attributes which include features, benefits, functions and uses. Price indicates the finances or goods that may be required to acquire certain products while place refers to the product distribution which integrates the physical stores and other distribution channels. It is important to cover all these aspects when considering marketing. The key role of the marketing sector, however, is to attract the attention of audiences through efforts such as advertising, giving endorsements, sponsorships, and incentives (Morgan, Feng & Whitler, 2018). It is imperative to draw in consumers and build a relationship with them.

Association between research and point of interest. The proposal takes on a broad perspective which seeks to ensure that House of Bellezza is in a premier position to perform effectively in the beauty and cosmetics industry. The point of emphasis is on ascertaining that the products are of optimum standards and are marketed through the most appropriate channels. The focus is on improving both the products and marketing practices to make significant gains across all areas of need. As such, the study will look to devise various means that can positively influence the growth and development of the firm. This is a testament to the availability of variety of strategies that are applicable in addressing the central research problem. The most preferred area of focus provides the basis for pursuing the possible solutions.
The area of interest is based on the contributions of technology and innovation to the beauty and cosmetics industry. There are a lot of innovative and technological developments that have taken place to date. These developments have been instrumental in the strides that the industry has been able to make in recent times. Digital developments have especially transformed it leading to the drastic rise in different organizations. For instance, e-commerce has been a cornerstone of successful businesses (Tolušić, 2020). House of Bellezza has benefitted from some of the developments that have taken place including the integration of the online platform. Yet, despite the massive developments that have taken place, technology and innovation still offer huge potential for the growth (Jones, 2010). This is an area of interest as it offers the path to addressing the research problem.
There are a lot of possibilities that are on offer. A significant number of the innovations such as 3D printing and augmented reality (AR) have been utilized in different beauty and cosmetics settings (Vieira, 2020) but have not been integrated in House of Bellezza. These are just two examples among many. The opportunities that the organization has in investing in technology and innovation are of immense magnitude (Pantano, Bassano & Priporas, 2018). The future also holds the key to more transformations and developments, and it is crucial that House of Bellezza be at the forefront of the changes. Technology and innovation are integral to the fortunes of the company as they can lead to enhancement of its products and operations. More innovative and technologically advanced products and services should impact the marketing of the organization in a positive way (Pantano, Bassano & Priporas, 2018). The potential of technology and innovation make it interesting to explore.
The other point of interest involves the application of marketing information systems in business affairs. The essence of the system is in the collection, analysis, interpretation and use of marketing information (Martell, 2018). It is important to gauge the changes that are instituted or the developments that take place. This is integral in determining whether the initiatives that are put in place in House of Bellezza bring about the desired outcomes. The use of marketing information system is a way of ensuring that the changes are effective in propelling the business forward. As such, it promotes efficient decision making with respect to integration of technological and innovative aspects into the business. To achieve the feat the system provides relevant information to the appropriate personnel who can make the right decisions in relation to marketing operations. The decisions cover aspects such packaging, product development, pricing, promotion, and distribution. The marketing information system incorporates various sources across both internal and external marketing research to come up with the required information about the market and products (Martell, 2018). The main components are internal records, marketing research, marketing decision support system and marketing intelligence system (Martell, 2018). Ideally, the application of the system helps in making the decisions that are made foolproof.

Scientific continuum. This research is at the intermediate level of the continuum. This factor is depicted by different aspects that define the continuum and show relation to the research. First and foremost, this proposal is established on material drawn from other sources with the purpose of coming with new strategies for improving marketing in the company under focus. The study is a qualitative data which a core feature of research on the intermediate continuum (Edmondson & McManus, 2007). The two forms of data are used to underscore the provisional theoretical model that can be discerned through the research. The model is established on the integration of different bodies of work. In addition, this research is mainly exploratory work which is testing constructs that are new to the firm of interest (Edmondson & McManus, 2007).
The study leans heavily to qualitative research as it is preferred for research in the continuum. As such qualitative methods expands the level of understanding and data collection in the process of research (Walton et al., 2020). The data is important part of the research as it makes it more comprehensive. There is a lot flexibility involved in using this method. This allows the adjustments or correction during research. The flexibility is vital in exploratory studies. However, for the sake of this study it is suitable because the research is on an intermediate continuum (Edmondson & McManus, 2007). There is reliance on information from several sources and the utilization of different methods of data collection. As depicted by Edmondson & McManus (2007) interviews, questionnaires and gathering material from the field form the basis of data collection process.

Contextual literature. One of the theories of the conceptual framework for this qualitative case study is the Ricardian model of international trade that clarifies the variation in reasonable benefits of technology and innovation from different nations. The technological and innovational differences is fundamentally what is needed between two or more nations involved in international trade (Krugman & Obstfield 2006). Krugman & Obstfield (2006) states that, the Ricardian model of trade, the nation that is demanding the product or services has a convenience of shaping the trade arrangements and advantages from trade, when trade opens. The Ricardian model is established well under the following assumptions: the two nations have trade activities, labor is the only factor of production, there is a seamless rivalry on the market and products that are produced from different nations are homogenous.
The other theory of the conceptual framework for this case study is the Uppsala Model of the theory of Internalization. The model provides an economic advantage for the establishment of multi-national corporations (MNCs) (Johanson & Vahlne, 1977). MNCs do business with other companies across national borders by exporting the products or producing the product at a company facility in other country as a foreign market (Rugman, 1997). The assumptions for the model are an established pattern of multinational activity, a healthy pattern of foreign direct investment and a perfect diversification of the market.

The research setting in this proposal also entails the databases that are utilized to accomplish part of the objectives. Different websites are important data collection centers especially in an industry such as beauty and cosmetics. Extensive online presence means that there is substantial data that can be gathered from the databases as can be observed in Pakšiová, R., & Lovciová, (2018). Databases such as EBSCOhost and Google Scholar provide peer-reviewed literature that informs on various aspects involved in the research such as industry data. Part of the contextual literature may also involve newspapers that feature details on technological developments and marketing in the beauty and cosmetics industry (The Guardian, 2020).

Recent literature. Recent literature has been more relevant in developing the proposal. The literatures cover the current developments that have been taking place. The research by Regazzo (2019) provides an account of the success that organizations in Italy have had with emphasis on technology and innovation. This source is quite relevant as House of Bellezza happens to have roots in the country thus the research forms a great basis for a study on beauty and cosmetics industry. Vieira (2020) focuses on a rather limited scope by looking at the role of artificial intelligence in the beauty industry. This technology is one of the prominent developments in recent times which makes the source a vital addition. Tolušić (2020) integrates the aspect of digital transformation in the industry. The dissertation provides in-depth regard of how digital developments such as social media and e-commerce have promoted the businesses in the industry. There are details on the overall impact of technological developments on the industry and the continued association between technology and beauty industry.
Qiutong & Rahman (2019) provide more knowledge on the significance of digital transformations. The journal displays the essence of social media in improving brand loyalty. The study on the college students provides a good indication that the success of beauty companies majorly hinges on their online presence and activities. Qiutong & Rahman (2019) also incorporate discussion on e-commerce and its impact. Lukmandono, Hidayat & Sari (2018) form another great addition to the literature. The focus of the research is on digital marketing strategies that promote the competitiveness of a company. It encompasses various aspects associated with digital marketing including brand awareness. It is quite informative and is integral to the research. The information is further reinforced by Maria (2017) whose study is based on Russia. The country holds a major market base for the cosmetics industry which makes it a great case study. The details on digital marketing solutions are comprehensive and quite relevant to the subject of the proposal.

Nature of the Study
The nature of the research that was used is a qualitative study method. Qualitative research depends on the collection of information that is narrative, and case study in nature. The case study design to gathers information about research (Yin, 2018). The focus will be on incorporating the input of organization stakeholders, industry experts, secondary sources, questionnaires, and interview in the compilation of the study. The case study design’s purpose is to address the concepts and ideas that have already been explored in relation to the subject. It also looks to cover the areas that have not attracted much attention with respect to the role of technology and innovation in the beauty and cosmetic industry.
Yin (2018) views a case study design to be valuable for collecting of participant’s perceptions and understandings by the way of open-ended questions. The design also fosters an environment for conducting in-depth interviews, questionnaires, and an observational secondar data that evaluates House of Bellezza’s effective commercial tactics in global marketing. Therefore, the designs that were not appropriate for the research included but not limited to quantitative, mixed methods, ethnography, and phenomenology.

The company’s executives have admittedly verbalized the struggles on the market to compete and later alone penetrate a market that is dominated by retail giants like L’Oréal, Unilever, The Estee Lauder Cos, Proctor and Gamble, Shiseido, LVMH Moet Hennessy Louis Vuitton, Johnson and Johnson to mention just a few. This lucrative global beauty industry market today is attracting a $532 billion in business. Currently, the United States of America (USA) is the world’s largest beauty market, sitting large with a 20% share of the pie, trailed by China (13%) and Japan (8%). The European market collectively covers a large portion of the market base. The estimated projected compound-annual-growth-rate should exceed $800 billion by 2025. There is huge potential in global marketing (Danziger, 2019).
The significance of the study is in addressing the utilization of technology and innovation in enhancing the marketing performance and benefit from the above-mentioned market share for House of Bellezza. This study will lay a foundation regarding the gap of improving technology and innovation strategies related to marketing of the beauty and cosmetic industry. It will also set the stage for further research.
Furthermore, there is the issue of marketability against marketing performance as it relates to the impact on the study scope. Marketability is the extent to which a product or service is suitable for commercial sale and the extent to which it can be easily bought and sold (Cambridge University Press, 2021). Whereas, Market Performance refers to the end results of the relationship of selling price to costs, the size of output, the efficiency of production, progressiveness in techniques and products (Liang & Gao, 2020). The impact on the scope of the study will lean towards the market performance as it will address the following on data collection in the framework of technology and innovation: Brand Awareness, Customer Acquisition, Social Platforms Engagement, Customer Retention/Loyalty, Website Traffic, and Repeat …

[ad_2]

Homework helper

Leave a Comment

Your email address will not be published.