Marketing Mix and Cultural Differences

The assignment discusses the marketing mix and its five Ps (product, price, promotion, place, and people) as a framework for making marketing decisions. It also touches on the importance of considering cultural differences when expanding a business into a new market, using China as an example. The document provides references to relevant literature and online resources, making it a useful resource for students studying marketing and international business.

Five P's of Marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Individual Market Plan................................................................................................................1
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing mix model is the tactical tool which is used by marketers in order to influence
the target market. It includes 4Ps or 7Ps respectively which stands for product, price, place,
promotion, people, physical evidence and process (Bachenheimer and Brescia, 2017). In this
context, this assignment will focus on 5Ps of marketing mix with reference to Asda. The
organisation desires to expand its operations in Chinese economy and for this, the five elements
of marketing mix will be used. These five Ps help organisation for selling product to its
consumers. Eventually, with the help of these elements, robust marketing plan for cited firm will
be produced in this assignment.
MAIN BODY
Individual Market Plan
Five P’s of Marketing
Five P is used by entity for marketing purpose which Asda can achieve its goal. This tool
is used by entity for solving internal as well as external issues. Under this, five P’s are discussed
by which employee as well as organisation get clarity regarding expansion of business in China.
Asda is dealing in retail store which is dealing with groceries, clothing, home appliances and
many more.
Product - This is one of the factors which is included under marketing mix. As per expansion of
Asda in China, this business is dealing in manufacturing of product (Eslinger, 2014). This
company can provide products which are preferable to local people as well as in international
market at lower price. Chinese people prefer to buy products at lower prices. This will increase
the trade and Asda’s brand value.
Price- This amount is basically paid by consumers for enjoying the product. Asda has
implemented competitive pricing strategy which provides products at affordable price. As China
is one of the largest economies of world, it has a lot of scope of doing business successfully. By
enforcing this strategy, more people will get attracted towards store and sales of goods will
increase and ultimately generate profit (Biroscak and et.al., 2014). There are a lot of competitors
of Asda which are selling their products like Tesco, Morrison, Sainsbury, etc. to customers but
Asda is ahead from all and grab most of the market share by selling its products at lower price.
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Place- This factor is very important regarding distribution of product. This helps in reaching of
product to end clients. Delivery system of Asda is very fast which is helping company to fit the
image of product as well as business. Facility of online delivery is also available which makes it
easy for consumers to get their products at home with ease. In this, entity is using selective
distribution strategy which is helping company to make goods reachable to end users. This type
of delivery system is facilitating entity to build a positive image of company in Chinese market
(Elmes and Barry, 2017). This factor helps in targeting of potential buyers so that products can
be sold to interested customers.
Promotion- This is an important component of marketing which can help entity in getting
popular. There are many components which are used to promote the product. Some of them are
public relation, sales promotion and advertising. Asda is offering goods at discounts and attract
customers in large range. In Chinese market, products are sold with advertising which local
people can relate and help entity to position its image in the mind of consumers (Biroscak and
et.al., 2014). Asda has used offline as well as online methods such as discounts, public relation,
coupons and social media to sell its products in large range and build a positive image in front of
customers. For establishment of organisation in that market, these types of offers are necessary to
attract customers (Eslinger, 2014). For new entity, it is necessary for enterprise to get regular
feedback of consumers which is very important for knowing their demand and help in well
establishment of business. This will also help the organisation in the promotion of product and
services.
People- This includes support of people which is necessary and help entity in growing its
business. Before launching of goods, it is necessary to research about target customers for
products and services. Employees are the significant part of entity who help in marketing as well
as operating business (Elmes and Barry, 2017). For this, trained employees are needed to support
business. Asda will choose on-the-job and off-the-job methods to hire employees so that right
kind of persons will be appointed for that post. Qualities which person must possess are
determined towards work, motivated, intelligent and expert in activity (Biroscak and et.al.,
2014). For reducing cultural difference in the firm, recruitment of Chinese person for higher post
is done.
In addition to this, festivals are celebrated which prevails in that place so that people can
relate to this. Moreover, it helps in removal of cultural differences. In store one, Chinese person
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is hired for guiding other employees related to their culture, taste and preference and many more
so that a lot of people will relate to services of store. By celebrating festivals of China, people
will get motivated and more people relate to this and will increase sales of entity (Bachenheimer
and Brescia, 2017). This will help in making a positive image of entity as well as facilitate in
establishing its business in that place.
CONCLUSION
It can be concluded from the above report that marketing mix refers to combination of
factors which help in influencing customers to purchase the products. It has been assessed that
company is using five P’s for making strategies related to selling of product for business and
operating its marketing decisions. In this, Asda is planning to expand its business in China for
eliminating cultural differences. Chinese festivals are celebrated by staff and this helps to run
business smoothly by Asda. On higher post, Chinese person is appointed so that local people do
not feel inequality in them. Price of product has kept low because people of China like to buy
products at affordable prices.
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REFERENCES
Books and Journals
Bachenheimer, J. F. and Brescia, B. A., 2017. Reinventing patient recruitment: revolutionary
ideas for clinical trial success. Routledge.
Biroscak, B. J. and et.al., 2014. Applying systems science to evaluate a community-based social
marketing innovation: a case study. Social Marketing Quarterly, 20(4), pp.247-267.
Elmes, M. and Barry, D., 2017. Strategy retold: Toward a narrative view of strategic discourse.
In The Aesthetic Turn in Management (pp. 39-62). Routledge.
Eslinger, T., 2014. Mobile Magic: The Saatchi and Saatchi Guide to Mobile Marketing and
Design (Vol. 1). Hoboken, NJ: Wiley.
Evans, W. D. and et.al., 2014. Social marketing of water and sanitation products: a systematic
review of peer-reviewed literature. Social Science & Medicine, 110, pp.18-25.
Kanwat, M. and et.al., 2016. Attitude of the Agricultural Graduate towards Agri-clinic and Agri-
business Centers in Arunachal Pradesh. Indian Research Journal of Extension
Education, 11(21), pp.117-119.
Lovatt, M. and et.al., 2015. Lay epidemiology and the interpretation of low‐risk drinking
guidelines by adults in the United Kingdom. Addiction, 110(12), pp.1912-1919.
Online
Five Ps of marketing. 2018. [Online]. Available through:
<https://www.business.qld.gov.au/running-business/marketing-sales/marketing-
promotion/marketing-basics/seven-ps-marketing>.
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