Marketing Mix Strategy of Enterprise Rent-A-Car

BSc (Hons) Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
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Contents
Introduction p
An explanation of marketing process p
A brief theoretical explanation of 4Ps marketing mix p
A Brief introduction of product/service (Enterprise Rent-A-Car) p
Application of 4Ps marketing mix to the Enterprise Rent-A-Car
p-p
Product p
Price p
Place p
Promotion p
An explanation of success of marketing activity of Enterprise Rent-
A-Car with particular reference to customer satisfaction p
Conclusion p
References p
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Introduction
The following report is made to show the marketing and marketing process used by
a company and how the firm make use of marketing mix for decision-making and
smooth running of the business. By paying attention to all its elements, a business
can multiplies its possibilities of a product being recognized and bought by
customers. Marketing refers to the human activity, set of establishment, process for
creating, communicating, delivering and exchanging offerings that have economic
value for customers, clients, partners and the whole society. Enterprise Rent-A-Car
is taken into consideration for this report. It is an American car-rental agency,
founded in 1957 by Jack C. Taylor, earlier known as, 'Executive Leasing Company'
which is headquartered in Clayton, Missouri. This firm provided economic to luxury
cars to its consumer for different purposes that are mentioned below.
An explanation of marketing process
The process which involved customer satisfaction created in terms of value is known
as marketing process. It includes the process and ways of creating some economic
value to satisfy customers. It is a string of steps and results created by company in
order to satisfy the customers, which starts from the recognizing the customer's
wants and goes to making of strategy, decision and execution and then deriving the
results. It basically consists of 5 steps which are discussed below:
1. Understanding the customer's needs and wants: The first stage is to identify
the local area or targeted area of marketing and the needs of customer and
how much he/she is willing to pay for their particular need or want. This
involves understanding of that unique product or service which will be
welcome by the consumers for a certain price, that will not be a burden on
buyer, but also provide decent profit to the organization. This step helps to
take decision of what kind of strategy will be applicable on product and
pricing(Abakouy, En-naimi, Haddadi and et. al., 2019).
2. Develop a basic strategy: After recognizing the target area and the customer
wants, the company has to make strategies in order to stand in the market.
These strategies can be formed by analyzing the level of wants of the
customers in the targeted area and what its competitors already have to give
a tough competition to existing enterprises. For making a impregnable
strategy, the selected enterprise can make use of the different marketing
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