Contemporary Issues in Marketing: An Overview of the 4Ps Marketing Mix

This article provides an overview of contemporary issues in marketing and the 4Ps marketing mix. It explores the importance of product, price, place, and promotion in marketing and how Enterprise Rent-A-Car applies these concepts to their services.

Contemporary issues in
marketing

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
An statement of marketing...........................................................................................................1
An statement of marketing mix....................................................................................................2
A brief hypothetical explanation of 4Ps marketing mix..............................................................2
Introduction of product and service.............................................................................................2
Application of 4Ps marketing mix to the selected product and service.......................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing mix is the process that consider different areas of focus as part of a across-the-
board marketing plan. Impressive marketing touches on a wide range of region as conflicting to
fixating on one message. It assist to determine marketing derivative in term of price, product,
promotion & place which offering meets a particular customer necessity or demand. Marketing
become an necessary tool in encourage a product/service to the consumer. At that place there are
many current issues in marketing and these are including up to date, across-the-board that the
person logical understanding of the local issues with marketing. The contemporary marketing
issues affect on change in global economics. People can conscious just about the goods that a
manufacturer is offering & influence them to buy that specific goods. These set of activity and
action plan are utilised by organisation to promote their goods and trade name in the market. It is
help in the take the attention of the consumer by innovative adverting. Enterprise Rent-A-Car is a
executive leasing company which is founded by Jack Taylor at St. Louis in 1957. He started with
7 cars & a belief that consumers will embracing the original concept of hiring auto mobiles
(Islam and et. al., 2018).
MAIN BODY
An statement of marketing
Marketing is defined as the activities of company that undertakes to promotes the
purchasing or selling of a good or services. Marketing is consider advertising, selling &
delivering goods to consumer and other business. The marketing learning has quickly moved and
reached a broad level but still process into some fixed changeable. It is also responsible for
identify, anticipating and appreciated consumer requirements with profit. The Morden marketing
has two different meaning according to the people which utilize this term. One significance of
marketing is explain as selling, determinant and influence through by some person always
viewed and discussed as business activities. Second meaning of marketing is explain as a
company's growth and success is depends to a large extent on identifying customers needs,
developing good product, pricing, distributing, and encourage them effectively. Without
commercialism people not conscious about the goods that the company is offering. Effective
marketing plan of action should be developed in order to make a goods into a brand (Anwarand
El-Bassiouny, 2020).
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An statement of marketing mix
Marketing mix is considered multiple areas of direction as part of a complete marketing
plan. This condition is explained a ordinary classification that are price, product, placement &
promotion. This is use for the encourage a goods or services in the market and sell it. It can be
dominated but depends on the internal and external environment in order to meet consumer
needs and choice, company uses various marketing plan of action. Impressive marketing touches
on a wide range of areas as conflicting to fixating on one message (Ye and et. al., 2021).
A brief hypothetical explanation of 4Ps marketing mix
These are the important component that are involved in the marketing of goods ans
religious service. These are include price, place, product and promotion of goods and service and
these are explained as the internal and external factor in overall business environment. It consist
all things that a company can do to determine the need of their goods or services. These are assist
in marketing for planning and performance. These are explained as the conceptual planning that
allows a producer to identify the demand and choice of consumer. The price should be
compatible with the placement of the product (Chowdhury and Naheed, 2020).
Effective marketing mix help in to create a chain of strong bond. It is also assist the
company to make combination of ingredient that will disable wisely manage the organizational
fund to fulfils their in demand goods. A product is something which is offered by a company to
satisfy customer need and wants. Product is explain as two categories these are goods and
services. Goods represents as the tangible product and service is represent as intangible products.
Price is the monetary values of the products offered by the company.
Marketing mix help to determined the product which can offers to consumers, at what
price, where and how to attract customers. Company that try for operating in impressive manner
and they have to pay well for controlling all components of marketing to fulfil their aim. In the
formation of marketing mix some factors requires to take in to account characteristics of all
element so that they could be straight (Ujang, Kozlowski and Maulan, 2018).
Introduction of product and service
The product & services are essential element in any business and without them no
business can grow in the market. Goods is consider as touchable items which is put in market for
attention, acquiring & consumption. Service is explained as the non-touchable items that arise
from the output of various individuals. The company is usually adopts mass production,
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promotion and distribution to achieve higher economics of scale, lower production costs and
achieve profitability. Company design a unique selling proposition to meet customer needs and
differentiate their products from competitor's products. Price is associated with perceived value
by customers. The price of the product should be in proportion to the value. Effective publicity
must convince to customers that the company's goods are the most suitable to choose. The
decision is about where to sell and how the product is made available to consumer when needed.
Enterprise Rent-A-Car offers the consumer for local & airport rental, motor vehicle sharing,
unusual car hire and van hire. It is also providing business solution for long term technical
vehicle and specialised fleet demands including LCVs, fundamental quantity controlled vehicles
and accessible minibuses. It is a brand that is established as a worldwide leader in the car rental
commercial enterprise (Valenzuela-Fernandez and et. al., 2019).
Application of 4Ps marketing mix to the selected product and service
Marketing is explain about the pricing, distribution, product and promotional plan of
action of an organization in order to developed or carry out & achieve target market. The
marketing mix is associated with action and as well as solution to meet customers requirements
and fulfil the company marketing aims. Marketing is help business professionals to analyse what
are customer demand, what customer want from them, how much demand there is product
achieving according to the market. In relation to Enterprise Rent-A-Car, its marketing mix plan
of action are mentioned below:
Product: It is defined as the goods and service that are company offers to customers. A
product should fulfil the customer demand and choice for which they are willing to pay. Products
are involved with goods and services that includes material like clothing, grocery items,
furniture, services. Concept of goods is very wide and include not just natural goods but also
includes people, experience, places, business, information & many more (Sadiartha and Suartina,
2020).
Enterprise Rent-A-Car sells a large variety of the service of the rental cars. It is includes
local and airport rental, temperature controlled vehicle, accessible minibuses, motor vehicle
sharing, unusual car hire and van hire. Enterprise Rent-A-Car is a part of St. Louis-based
Enterprise Holdings which is also personal and operates the Alamo Rent-A-Car brands and
National Car Rental. It is also provide specialised fleet needs including HGVs. Enterprise Rent-
A-Car is a component of the biggest transportation solution supplier in the world. It started with
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seven cars in St. Louis and now it has a collection of two million transport in over 7900 locations
in 100 countries (Kumar and et. al., 2019).
Price: It is consider as key element in marketing mix because it dictates a company's
survival and earnings. It is mention to the value that pay in exchange for the product and service
offered by a company. There is important change in the price will affect the property of a
specific business model. It is considered as an important factor of market that enhance
organizational profit and market share. There are some factors which are explained before
determining on the price of a products and service. These include price list, competitor's price,
discount and term of sales. Thus, price of product is detected as only element of marketing mix
that generate income and most signification consumer's satisfaction or loyalty factor.
Enterprise Rent-A-Car approaches to the pricing was based on competition as it was
important to the grocers. This company is ensure that price never become a reason for customers
to choose any other company for rent car. So, the company is using top class cars and offer high
satisfactory price for the services. This cost is include the maintenance cost, labour cost and
machine cost (Moise and et. al., 2019).
Place: This is also an important factor in the determination of marketing mix and it is
also called as distribution. It is a method and procedure in which service and goods reach to the
consumers. It is a convoluted system where company make goods & services and do self-
directed trade. Consumer's interest is totally matched with each other within certain time and
situation. This is includes activity and conclusion related to the product's movement from
manufacturer to customers.
Enterprise Rent-A-Car offering its service in entire UK and also provide their services in
Ireland, Germany, France, Spain, United State and Canada. It provides there services over 7900
locations in 100 countries. It has employees more than 100000 people which operates more than
10000 branches in worldwide. It is provide car sharing and offers hourly car rentals (Chen and
Shih, 2019).
Promotion: It is the last factor of the marketing mix that assist to organization to
increase awareness in the term of company's goods and services. It is help in the high demand
and advanced sale that build brand commitment. Publicity in marketing mix is a tool which assist
to spread data, promote purchase & impact the activity of buying decision. There are various
method which are use for the promotion of service and products. It is include publicity, public
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relation, straightforward selling, digital marketing, individual selling, sales publicity, and
consequence marketing. Promotion is an necessary component of marketing mix because without
communication a company cannot attract customers for a product. It is also use for the influences
customers to buy a product or choose a specific brand (Ibrahim, Aljarah and Ababneh, 2020).
Enterprise Rent-A-Car give the many deals, promotion and provide travel partners on car
and van hire. It gives the many rewards when hire a car with this and use one of may first rate
travel partners. Travel partners are help in the earn miles, points and more on cars hire. Travel
partners are flying blue for me, Radisson rewards and Virgin Atlantic flying club. It gives an
offer for example save 10% when pay which means that pay for cars in advance and save 10%
and it can cancel for free up to 3 days. It is also give the car club membership and provide 5%
discount for club members. It provides many deals such as Email offers and tips for getting the
lowest prices on car and van rentals (Mouakket, 2020).
CONCLUSION
From the above study it is concluded that the marketing mix help in the definite decision
& action. These are design for company objectivity and fulfilling consumer's requirements. It is
necessary for organization to offers services or goods which can meet customer's needs which
are help in to get success and remain profitable. Business is really necessary for the customer
whose desires should be satisfied. The expiation is implemented in the action and as well as
decision which are related to 4Ps involved factors. Product is a marketing ingredient that cover
action and decision which are associated with the sale of property development & changes. Price
is an important in the marketing mix which help in to increase organizational profit and growth.
Promotion is a process that help in to attract customers to buy products. Thus, it is concluded that
the marketing mix is an necessary factor of marketing that plays an essential role in business to
apply their plan of action effectively.
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REFERENCES
Books and Journals:
Anwar, Y. and El-Bassiouny, N., 2020. Marketing and the Sustainable Development Goals
(SDGs): A review and research agenda. The future of the UN sustainable development
goals, pp.187-207.
Chen, S. and Shih, E., 2019. City branding through cinema: the case of postcolonial Hong
Kong. Journal of Brand Management, 26(5), pp.505-521.
Chowdhury, T.A. and Naheed, S., 2020. Word of mouth communication in political marketing:
Understanding and managing referrals. Journal of Marketing Communications, 26(3),
pp.290-313.
Ibrahim, B., Aljarah, A. and Ababneh, B., 2020. Do social media marketing activities enhance
consumer perception of brands? A meta-analytic examination. Journal of Promotion
Management, 26(4), pp.544-568.
Islam, M.J. and et. al., 2018. Consumers profile analysis towards chicken, beef, mutton, fish and
egg consumption in Bangladesh. British Food Journal, 120(12), pp.2818-2831.
Kumar, V., Rajan, B., Venkatesan, R. and Lecinski, J., 2019. Understanding the role of artificial
intelligence in personalized engagement marketing. California Management
Review, 61(4), pp.135-155.
Moise, M.S., Gil-Saura, I., Šerić, M. and Ruiz Molina, M.E., 2019. Influence of environmental
practices on brand equity, satisfaction and word of mouth. Journal of Brand
Management, 26(6), pp.646-657.
Mouakket, S., 2020. Investigating the role of mobile payment quality characteristics in the
United Arab Emirates: implications for emerging economies. International Journal of
Bank Marketing.
Sadiartha, A.A.N.G. and Suartina, I.W., 2020. THE ROLE OF MEDIATION SATISFACTION
OF CRM (CUSTOMER RELATIONSHIP MARKETING) INFLUENCE TOWARD
CONSUMER TRUST AT ELITE SANG TUNAS KID COURSES
DENPASAR. IROCAMM-International Review Of Communication And Marketing
Mix, 1(3), pp.23-29.
Ujang, N., Kozlowski, M. and Maulan, S., 2018. Linking place attachment and social interaction:
towards meaningful public places. Journal of Place Management and Development.
Valenzuela-Fernandez, L., Merigó, J.M., Lichtenthal, J.D. and Nicolas, C., 2019. A bibliometric
analysis of the first 25 years of the Journal of Business-to-Business Marketing. Journal
of Business-to-Business Marketing, 26(1), pp.75-94.
Ye, G., Hudders, L., De Jans, S. and De Veirman, M., 2021. The value of influencer marketing
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