Contemporary Issues in Marketing: Understanding the Marketing Process and the Marketing Mix

This report discusses the marketing process and the marketing mix, with a focus on the organization Enterprise Rent A Car. It covers the four P's of marketing and how they apply to the rental car industry.

Contemporary Issues
in Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1: Demonstrate a knowledge and understanding of the marketing process in the contemporary
business context...............................................................................................................................3
2: Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service....................................................................3
Marketing....................................................................................................................................3
An statement of marketing mix...................................................................................................4
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing mix is referred to as the use of marketing tool which integrates the number of
components for becoming hard and solidifies the products brands and aid in selling the goods
and service. Organizations based on products have to come up with strategies for selling the
goods and marketing mix is one of them. Marketing mix is a set of marketing tools which are
used for marketing the goods and services in market and sell them. It is all about positioning of
the goods and sell in the right place ,at right time and right price. Furthermore, it provide
assistance in order to identify the trends of the market by evaluating the fluctuations in regards of
product, pricing, preference, promotional activity, demand and supply of the products etc. The
goods will be sold in accordance to the strategy of marketing. There are various challenges
which influence the marketing process in the global economics. The customers is only concern
about the product and services which is offered by the different organization is satisfying their
need or not. The organisation has to accelerate their production of products that is demanded by
the customers. The activity of the marketing mix is helps the various organisation to promote
their gross sales and increase their profits. It is the tools for creation of right marketing strategy
and implement it by effective techniques. The company taken is Enterprise Rent A Car which
was founded but Jack Taylor in the year 1957. The company was started with seven cars and the
belief that consumers will embrace the concept of hiring the auto mobiles in St. Louis. This
report will demonstrate the knowledge and understanding of the marketing process in the context
of the company. It will also state the understanding of the marketing mix concept and
explanation of hows it is employed while developing the new goods and services.
MAIN BODY
1: Demonstrate a knowledge and understanding of the marketing process in the contemporary
business context.
(I) Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service.
Marketing
Marketing refers to the process of exploration,creation and delivery of value for meeting
the needs of the target market in context of products and services including selecting of the

target consumers,selecting attributes for emphasizing in advertising, attendance at trade shows
and public events,designing of goods and packaging,terms and conditions of sales. In the present
world, marketing is one of the key aspects of the business(Adeola, Hinson, and Sakkthivel, 2022)
. It is responsible for deciding the need of the consumer's by anticipate the demands of different
customers base. Further, it is also accountable for determine, anticipate and appreciated
consumer necessities with profit. According to the people the modern marketing has two
different meaning. One of the prime importance of marketing is selling and influencing the
potential individual. The second meaning of marketing is to contribute towards the companies
growth and success to a great extent by identify the needs of customers, developing product
according the demand of the consumer's, pricing, supplying the products effectively. Without
the marketing of the goods, the people will not be aware about the products of the company. The
organisation should develop their plan of action to do effective marketing for converting the
goods into the brand(Bruskova, 2019).
An statement of marketing mix
The marketing mix considered a set of act or plan of action, that a organization is uses to
promote their brand or their products in the market. Marketing is wholly depended on internal
and external factors that affect the consumer demand in the market. In accordance with the
consumer demands and their preferences the organization has made their marketing plan in order
to provide them the products in accordance with their needs(Eti, 2020). They have to prepare
their marketing strategies smartly to focus on the various sectors to whom the organisation wants
to spend their time and money.
A brief hypothetical explanation of 4Ps marketing mix
For getting the idea about the present trends in the marketing we will implement 4 P's of
marketing which are Price, Product, Place and Promotion. Those elements are considered to be
the internal and the external elements that effect the business environment. It include all the basic
elements which are necessary for determining the taste and preferences of the potential
consumers to meet the customers demand. e.g., the organization can set the prices of their
product in accordance with their quality. In addition, it also assures the proper implementation of
marketing plan and taking actioning order to achieve the objective of the organisation which is
promoting their products and services. The effective marketing further helps the organization to
build a strong relation with the consumer's(Foroudi, and Palazzo, 2019). It further assist the

organization to recognise the consumer demand and how to full fill the required demand. Product
marketing makes it simple which explain the details about the relevant products in regard of their
price, components which is used in manufacturing, retail agency, wholesalers, expiry date of the
products etc. Goods and services are two aspects of the products. Goods are tangible in nature
and the services are those which is intangible in nature. Prices which has decided by the
organization is the worth of that goods and services. Marketing mix provide assistance to the
organisation to determine the prices of their product and services and how to hold their consumer
base. Further what are the sectors to be targeted to attract new customers. It also helps the
organization to focus on their operating activity to achieve their desired goal(Nwankwo, and
Richards, 2020).
Product and services- There are no businesses available which can be function without the
engagement of the goods and the services. No business organisation can be grown without them
in the market. Goods are the tangible substance which can be used and consumed by the
customers. Services are the intangible thing which only can be measured by the outcome of the
various peoples. The organisation in order to attain the higher sales they use to do production,
promotional activity and try to control the cost of the goods, in the end all those efforts assist the
organisation to increase their profit. The organizations must differentiate their products and
services from their competitors. It will attract more consumer base to their products and services
which they are offering. All the products and services must have few differentiable attributes
from their competitors. The organization has to market their products through publishing which
will help them to made their positive brand image in their consumer's. It is very essential for the
product to get list at a reasonable price. The organization should price their product as the quality
and quantity of the product. Basically, the price of the goods should be justified by the quality of
the product. The organisation must take decision regarding the how to sell their products and
make it accessible to every consumer's. Those entities who are in the business of rent-a-car is
renting their vehicles to consumers for different purposes. They provides mini cars, buses,
travellers, suv's etc. The prices of the services is determine by the size and variant of the car. All
their vehicles are in good conditions and well equipped facilities such as TV, rest rooms, small
kitchens etc. All the facilities are vary according the size of the vehicle(Phillips, and Moutinho,
2018).

Applying the four P's to the chosen product and services-
Marketing is the tool as this helps the organization to examine the market in regards of customer
need and demands. In addition, it helps the businesses to made a successful strategy to
accomplish the aim and the desired goal of the organisation. Marketing mix consider the decent
solutions to their problems which arises by achieving to the demand of the
consumer(Sethna,Fakoussa, and Evans, 2019).
The marketing mix strategy in context of the organization who rent-a-car are as follows-
Product- Product refereed as both the goods and the services which is offered by the various
organization in order to achieve their desired consumers goal. By achieving the need of the
customer they can convince the consumer to pay the price of their products. The
organisation who is providing the cars on a rental basis, they are providing the services by
leasing or renting their vehicles to the customers. They offer services which includes airport
rental, holidays rental etc. All the vehicles are well quipped and providing facilities
accordance with rental vehicle. The specific organization has commence their business with
seven cars and now they are operating in 100 countries and they holds the collection of two
million cars(Szolgayová, 2022).
 Price- The prime factor of doing the business is money. It is considered as the important
element of the marketing mix as it help the organization to get the clear prospect of their
profitability. Price of the goods denotes the worth of the goods and services that is available
by the organisation to their customers. It is ascertained after the evaluation of the
competitors product, discounts provided by them and the price which is charged by the
different organisation for the similar products. The organization who is in the business of
renting a car is offering a competitive pricing in accordance to their size of the vehicle. The
organisation has doing their best to maintain the pricing of their services because they do not
want loose their customer base.
Place- In order to create a recognizable brand they have to reach out various places within the
domestic and in the international market. In can be done steadily in case the organization
want to target the new cities in order to expand their existing customer base. The
organisation who is engaged in the business of renting a car is provide their services to all

the towns of the United Kingdom well as other countries like Spain,USA, Canada,Germany
etc. The organisation has expanded their business in almost 100 countries.
Promotion- The promotional factor is considered as the important activity in regard of the
product and services in the marketing mix. It helps the organisation to publish their goods
and services and spread awareness among the peoples related to what the company is
offering. It further assist the organization to attract potential customers who wants to
experience their product or services. This activity also ensures in healthier sales and profit.
The organisation rent-a-car has offers various rewards and discounts in regarding to promote
their services. The company has providing different advantages to the consumer's like on
every booking the customer gets few points and if they hire their services more than three
times than they will be eligible for free ride in their next booking in regards of those points
which they earned in their previous rides, they also offers several clubs memberships and
those who register for the club membership they will get additional 10% on their bookings.

CONCLUSION
From the above paper it can be summarised that marketing mix is the process which
consist of different techniques and tools that are useful in process of designing the marketing
plan of the organization. The organization are need to full fill the customers demand by analyse
the various trends of the market and the necessities of the consumer's. This report further
discussing the concepts of process of marketing and marketing mix. In addition, it also deals
with the concise discussion of the four P's that are important factors of the marketing mix and
also defines the term product and services in regard of the four P's to the selected product and
services.

REFERENCES
Books and Journals
Adeola, O., Hinson, R.E. and Sakkthivel, A.M., 2022. Marketing Communications and Brand
Development: An Introduction. In Marketing Communications and Brand Development
in Emerging Economies Volume I (pp. 3-15). Palgrave Macmillan, Cham.
Bruskova, O., 2019. MARKETING MIX (THE CONCEPT OF 4PS). In Public Relations as a
Brand Awareness Booster (pp. 22-27).
Eti, I.A., 2020. Theoretical Inspection And Rethink of Marketing Mix. Available at SSRN
3685642.
Foroudi, P. and Palazzo, M. eds., 2019. Contemporary issues in branding. Routledge.
Nwankwo, S. and Richards, D., 2020. Contemporary issues in entrepreneurship marketing:
Sustainability, ethics, and social responsibility. In Entrepreneurship Marketing (pp.
337-358). Routledge.
Phillips, P. and Moutinho, L., 2018. Contemporary issues in strategic management (pp. 159-
177). Routledge.
Sethna, Z., Fakoussa, R. and Evans, G., 2019. Contemporary Global Marketing.
In Contemporary Issues in Marketing: Principles and Practice (pp. 32-73). Sage.
Szolgayová, B., 2022. Adaption of Marketing Mix for Selected Country. In SHS Web of
Conferences (Vol. 135). EDP Sciences.