Principles of Marketing Management

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Principles of marketing management

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Table of Contents
Introduction......................................................................................................................................3
Q1....................................................................................................................................................3
Q2....................................................................................................................................................6
Q3....................................................................................................................................................8
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

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Introduction
Marketing is an important concept which is required to be followed by all the businesses so that
the important details of the business can be made available to all. There are various aspects
which are to be covered and for that marketing mix is taken into consideration. In this report, the
mix in relation to three businesses will be discussed. The manner in which companies are
creating the value of their customers will be determined. The manner in which socially
responsible decisions are used for the attainment of the consumer value will be identified so that
further creation of the same can be performed.
Q1
The marketing mix of the company describes the various elements which are to be covered in the
marketing process (Anitsal, Girard and Anitsal, 2012). The details of them shall be analyzed and
for the same, the details of the marketing mix about three companies provide hereunder:
Marketing mix of Kmart:
Product: The Company sells various products in order to gain the high market share and they
involve jewelry, apparel, health and beauty products, electronics, sports equipment, food items,
toys and many more. By the help of this, it provides the facilities for all adults, children, and
elders as per their requirements.
Price: The strategy related to price has been modified and nor the low-pricing model is followed
by the company. They are using their own brands in place of the reputed brands to attain the low
cost and so it is applying the everyday low prices concept (Mitchell, 2019).
Place: In recent times Kmart is operating at various locations and for the coming period the
focus will be made on the Jeopardy. The website is also taken into use for the performance of
several operations by which the products are provided to various states.
Promotion: The positioning of the stores has been changed from all to targeting mothers and
women. The commercials are made by it for the promotion and in that catchy pop songs are

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used. Social media is also used for the promotion on which various pages are shown to provide
product related information.
Marketing mix of target:
Product: The products which are used in everyday life and have regular demand are provided by
Target Corporation. The single stop shops are introduced by it in which wide range is provided
such as furniture, health products, footwear, and others.
Price: In the retail industry the company is identified to be the second largest discount store. The
company is providing all the products at a discounted price and also using the bundling pricing
policy. The bulk sales are encouraged by it and for that, it is providing several incentives.
Place: The first outlet of the company was opened in Roseville and after that various stores were
opened in Boston, Chicago and other places in the US. The expansion has also been made in
some cities of India (Bhasin, 2019). There is a strong delivery system of the company by which
it can supply the goods to various parts in an appropriate manner.
Promotion: The main aim of the promotion strategy of the company is to increase the market
base and for that BTL and ATL policies are taken into account. The print media is also used and
there are advertisements which are provided in the newspaper and magazines. All social media
sites are also used to target the large population.
Marketing mix of Big W
Product: The Big W is the departmental store which is operating in various day to day use
products and in that electronics, home décor and products for all including kids and women are
provided. Travel and party related products and services are also provided by it.
Price: The Company is providing all the products at such costs by which it can gain a large
number of customers (Chen and Green, 2009). For this requirement, there are various discounts
which are provided to the consumers so that they are attracted and purchase the products from its
stores.