Introduction to business studies

1500 words report+ poster

Marketing Mix is an important component for
organizations as it helps them in making
effective and profitable decisions. The 4 Ps of
the marketing mix are product, price, place and
promotion. Product is the item that is sold in
the market to satisfy the needs of the
customers. A product should be something that
adds value to the customers and has features
like colour, size etc. Organization chosen for
this poster is Marks and Spencer, a British
retailer that is recognized worldwide.
Marks and Spencer is a multinational retailer
of high quality household, clothing, food and
beverage products based in the United
Kingdom. The products offered by the
company are for both men as well as women
of different age groups. Product offerings for
women include blazers, jeans, linens, shirts,
skirts, jewellery, sunglasses, bags etc.
While for men, the products are loafers,
suits, jackets, blazers and so on. The
company also sells food and beverages that
include wines, lunch and dinner meals,
starters etc. Due to the high quality of
products, the respective company has a large
base of satisfied customers.
Instructions to Business Studies
Introduction
References
Ghauri, P., Grønhaug, K. and Strange, R.,
2020. Research methods in business studies.
Cambridge University Press.
Kolk, A., 2016. The social responsibility of
international business: From ethics and the
environment to CSR and sustainable
development. Journal of World Business.
51(1). pp.23-34.
Tams, S. (2008). Constructing self-efficacy at
work: A person centered perspective.
Personnel Review, 37 (2). 165-83
Conclusion
Promotion
Product can be defined as a physical item that
is sold by an organization in order to satisfy the
needs of its customers and attract more
potential customers.
From the poster, it can be concluded that
product mix is an important component for an
organization. Also, the products within an
organization should be developed by taking
into account the needs as well as expectations
of the customers.