Contemporary Issues in Marketing: Explaining Marketing Mix and Applying 4Ps to Enterprise Rent-A-Car's Rental Wedding Car Service

This report discusses contemporary issues in marketing and the importance of marketing mix. It also explains how Enterprise Rent-A-Car applies 4Ps to their rental wedding car service. The report covers market analysis, marketing goals, and the 4Ps of marketing mix. The importance of marketing mix in the marketing process is also highlighted. Subject: Marketing, Course Code: N/A, Course Name: N/A, College/University: N/A

Contemporary Issues in
Marketing
Contents

INTRODUCTION...........................................................................................................................1
EXPLANING MARKETING..........................................................................................................1
EXPLANING MARKETING MIX.................................................................................................1
MARKET ANALYSIS....................................................................................................................2
MARKETING GOAL ....................................................................................................................2
4Ps OF MARKETING MIX............................................................................................................3
INTRODUCING PRODUCT/SERVICE........................................................................................4
APPLYING 4Ps MARKETING MIX TO SELECTED PRODUCT/SERVICE............................4
IMPORTANCE OF THE MARKETING MIX WITHIN THE MARKETING PROCESS...........5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Contemporary issues in the marketing gives an innovative approach which helps
in learning about the important concepts of marketing which is based on a alliance with
marketing week (Ferrell, Hartline and Hochstein, 2021). There are various issues in the
marketing which includes the continuous proliferation of platform of media, marketing
terminology, product innovation, technologies of marketing, customer taste,
preferences, demand, behaviour and many more. For better understanding of
contemporary issues in marketing Enterprise Rent-A-Car is taken into consideration. It
is an American rental agency which is founded by Jack C. Taylor and founded in 1957.
It has its headquarters in Clayton, Missouri, United Kingdom and its parent organisation
is Enterprise Holdings (Enterprise Rent-A-Car, 2022).
This report covers, the demonstration of understanding and knowledge of the
process for marketing in the context of contemporary business. Along with this, it
highlights demonstration of understanding of marketing mix concept and explanation of
how it is implemented while new product or service is developing.
EXPLANING MARKETING
Marketing is a procedure of creating, exploring and delivering values to satisfy
the demand and needs of the target marketplace by providing proper products and
services (Gbadamosi, 2019). It is related to the set of institution and the processes for
communicating, exchanging offering, creating and delivering that have value for clients,
society at large, customers, partners and many more. There are some example of
marketing which is used by the managers of Enterprise Rent-A-Car like billboards on
side of the road, television commercials, magazine advertisement and many more. It
helps them in attracting more number of people and attaining organisational success
and goal.
EXPLANING MARKETING MIX
Marketing mix is related to the set of tactics or actions, that is used by the
organisation management to pursue its objective of marketing in the targeted
marketplace. It helps the mangers of companies in promoting their brand or product to
the large number of customers in the market (Jobber and Ellis-Chadwick, 2019). The

organisation managers use this tool in their business to make desired response from
their target customer and market and aids them in understanding what elements must
be combined to achieve their marketing objective and goals. It helps the managers of
Enterprise Rent-A-Car in understanding what their services and products can offer to
their buyers or consumers. It aids them in planning, executing and developing effective
strategy of marketing. It also assess them in making effective use of their strengths and
avoid costs which is unnecessary. The marketing process that is followed by Enterprise
Rent-A-Car marketing team in order to promote their rental wedding car service is
explained below with some stages:
MARKET ANALYSIS
In this process, managers research about the ideal audience and customer to
which they can sell their goods and services (Kartajaya, Setiawan and Kotler, 2021).
Enterprise Rent-A-Car managers in the first step analyse the customers needs,
demand, taste and preferences so that they can satisfy their customers. They have to
look for pattens in their intended and present consumers interest and demographics.
The service provided to the customers of rental weeding cars is effective for Enterprise
Rent-A-Car managers and they have to start researching for their target customers so
that they can sell their services o large number of people. They have to analyse the
demand and need of the people to attract them and attain sustainable competitive
advantage over others in the marketplace.
MARKETING GOAL
Each and every organisation make strategy in order to achieve its desired and
set goal and objective. The objective and goal of marketing is the internal factors which
provide as the foundation for the marketing strategy of the company (Kumar, Shankar
and Aljohani, 2020). There are various ways to to approach the goal and objective of
the marketing. The managers of Enterprise Rent-A-Car is going to raise their brand
awareness to the large number of people in the marketplace. Their goal and objective is
to provide services according to their customers to satisfy their needs and wants. They
are going to expand their business by providing various more services and increase

share of voice by 15% by the end of March. They can also use SMART marketing goals
in order to attain its goal and objectives.
4Ps OF MARKETING MIX
The 4Ps of marketing mix is the important considerations that have to be
considered thoughtfully and properly implemented to market the services and product
successfully. To attain success in properly marketing companies goods and services,
the managers firstly analyse the needs and wants of the customers (Lahtinen, Dietrich
and Rundle-Thiele, 2020). Then make goods according to them and determine how the
services and product satisfy or fail to meet the demands of the people. To market their
product and services the managers of Enterprise Rent-A-Car done marketing mix which
is mentioned below:
 Product: It is related to the finished goods or item which is actually being sold by
the businesses to their targeted customers. In Enterprise Rent-A-Car, the service
so the is provided to the large number of people instead of providing products.
They provides various type of services to their consumers like word of mouth
references, repair and installation services, pre purchase and priming education
given by sales employees, point of sale equity and many more. Some stages are
used by the managers of product management which includes identification of
opportunity, testing and designing, Enterprise Car product launch and product life
cycle management of he goods of Enterprise Rent-A-Car.
 Price: Price is the value which is set by the managers of the company of their
product or services (Stead and Hastings, 2018). It is a highly complex activity
and Enterprise Rent-A-Car managers fix prices according to their customers.
They analyse the needs, wants, taste, preferences, status and financial condition
of people all over the world and sell product according to that. There are some
pricing strategies in order to fix the price of the product and services like cost
base pricing, value based pricing, market penetration pricing, market skimming
pricing, goods value pricing and many more. Enterprise Rent-A-Car managers
usually uses good value pricing, they offer right mix of goods quality, features
and service combination at affordable and fair prices. They provide their goods
and services to their employees at an accessible prices.

 Place: It is related to the place where organisations services and products will be
sold. It is the set of processes by which the managers of Enterprise Rent-A-Car
deliver their services and goods to their customers. There are two type of
distribution channel which is used by Enterprise Rent-A-Car managers which
includes channel design and channel management. It helps them in providing
their goods and services to the large number of people all over the world as
whenever there is a need of any product or services it will be available at that
time.
 Promotion: It is used by the companies in order to communicate to their
customers about their product, services and its prices (Vollero and Valentini,
2021). There are various promotional strategies which is used by the Enterprise
Rent-A-Car managers. Some of the strategies are sales promotion,
advertisement, public relation, personal selling, direct marketing and many more.
They use these strategies in order to communicate their customers and tell them
about the product, its prices, features, place where they can buy it from and its
use.
INTRODUCING PRODUCT/SERVICE
The new developing services which is effective for Enterprise Rent-A-Car is
providing rental wedding cars to the people. It includes all type of cars for rent like
luxury, affordable and many more. They gives the cars to the large number of people all
over the world by analysing the demand, needs of the customers. They serve their
consumers which requires a temporary cars or vehicle for few days. People can book
the car in advance also of their choice for the weeding day.
APPLYING 4Ps MARKETING MIX TO SELECTED PRODUCT/SERVICE
Marketing mix is the tool which is used by the managers of the organisation in
order to market their product and services to the large umber of people all over the
world (Pride and Ferrell, 2018). The marketing mix I context to Enterprise Rent-A-Car
of developing new services is mentioned below:
 Product: The product is tangible and seen by the people because Enterprise
Rent-A-Car provides the rental services of car to the customers. The service is

providing rental weeding cars to the people. In this service the manager of
Enterprise Rent-A-Car provides all types of cars which every the customer needs
according to their taste, preferences and demand. It includes different type of
cars like luxury, small, affordable and many more.
 Price: The prices of rental cars for weeding service is fixed by Enterprise Rent-
A-Car managers on the basis of the model of the car. The luxury ones are quit
expensive as compared to the small cars and some cars which is affordable by
all kind of customers.
 Place: The place where the customer can use this services is online platforms,
garage and many more. Cars are available at 24/7 for rent at the places here
large number of customers can easily access and take them on rent.
 Promotion: For making aware of their services managers of Enterprise Rent-A-
Car promote it on various platforms to reach large number of people all over the
world. It is effective for them as they aware people by using different strategies
like personal selling, public relations, sales promotion, using online platforms and
many more.
IMPORTANCE OF THE MARKETING MIX WITHIN THE MARKETING
PROCESS
The marketing mix helps companies managers in understanding what type of
product and services have to be made and offer to the people all over the world. They
should analyse the needs, demand, taste and preferences of the customers in the
market and then produce the goods and services according to them (Solimun and
Fernandes, 2018). This is going to help them in attracting large number of customers
and gaining sustainable competitive advantage over others in the market or same
industry. It aids managers of Enterprise Rent-A-Car in planning, executing and
developing effective strategy of marketing for their goods and services. Which is going
to help them in using their strengths and avoiding unnecessary costs of the business. It
asses then in defining options of marketing so that they can they can provide the goods
and services to the customer and satisfy their needs and demand. Marketing mix is a
important technique which is used by the managers to create the effective strategy of
marketing and implement it with the help of effective tactics. It also helps in attracting

more number of people all over the world and gains sustainable competitive advantage
over others in the same industry or marketplace. With the help of marketing mix
company can sell their product and services effectively in the market to their customers
in order to attain organisational success, profitability and goal.
CONCLUSION
From the above report, it is concluded that the marketing plays an important role
in achieving the success, profitability, goal and sustainable competitive advantage of
the company over others in the market or same industry. Marketing mix is the tool which
is used by the manager of organisation in order to market their product and services to
the large number of customers all over the world. In marketing mix there are some
marketing process which is used by the company management which includes market
analysis and marketing goal. The 4Ps of marketing mix includes product, price, place
and promotion which is used by the organisation managers to attract customers.
Importance of the marketing mix in the marketing process which helps them in attaining
goals and objective.

REFERENCES
Books and Journals:
Ferrell, O. C., Hartline, M. and Hochstein, B. W., 2021. Marketing strategy. Cengage
Learning.
Gbadamosi, A., 2019. Contemporary issues in marketing: Principles and practice.
Sage.
Jobber, D. and Ellis-Chadwick, F., 2019. EBOOK: Principles and Practice of Marketing,
9e. McGraw Hill.
Kartajaya, H., Setiawan, I. and Kotler, P., 2021. Marketing 5.0: Technology for
humanity. John Wiley & Sons.
Kumar, A., Shankar, R. and Aljohani, N. R., 2020. A big data driven framework for
demand-driven forecasting with effects of marketing-mix variables. Industrial
marketing management. 90. pp.493-507.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social marketing
context. Journal of Social Marketing.
Pride, W. M. and Ferrell, O. C., 2018. Marketing 2018. Cengage Learning.
Solimun, S. and Fernandes, A. A. R., 2018. The mediation effect of customer
satisfaction in the relationship between service quality, service orientation, and
marketing mix strategy to customer loyalty. Journal of Management
Development.
Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the
balance right. In Social Marketing (pp. 29-43). Psychology Press.
Vollero, A. and Valentini, C., 2021. Social media and consumer power: Opportunities
and challenges for digital marketing activities. Contemporary Issues in Digital
Marketing, pp.105-115.
Online:
Enterprise Rent-A-Car. 2022. [Online]. Available through:
<https://www.enterprise.com/en/home.html>