Marketing Mix and Its Application in ASDA

This report discusses the importance of marketing mix and its application in ASDA, a supermarket chain. It covers the 4Ps of marketing mix and their application in the launch of a new range of baby care products by ASDA.

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
Submitted by:
Name:
ID:
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Contents
Introduction p
An explanation of marketing p
An explanation of marketing mix p
A brief theoretical explanation of 4Ps marketing mix
p
Introduction of product/service
p
Application of 4Ps marketing mix to the selected
product/service p-p
Product p
Price p
Place p
Promotion p
Conclusion p
References p
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Introduction
Marketing is basically the process of designing and maintaining an environment in
which individuals working together in groups efficiently accomplish selected aims and
objectives. The process of marketing basically involves all the activities which are carried by
the organization for the purpose to buy and sell its services and products. The marketing
process involves the set of actions and tactics and selling and advertising. In the present
report, ASDA is chosen as the organization. The company is a supermarket chain which was
founded in 1949 and headquartered in Leeds, England. The report includes the deep
understanding and knowledge of the process of marketing and comprises of the concept of
marketing mix for the purpose to develop service or new product.
An explanation of marketing
In context to marketing, it includes the process of getting potential clients and
customers who are interested in the services and products of the consumers. The entire
process of marketing, involves the selling, promotion, research and distribution of the
services and products. It also involves the discipline centers on the consumer behavior study
and the analyzing the commercial management for the objective to retain , attract and acquire
customers through fulfilling the needs and wants of the customers. In context to ASDA, the
organization uses various marketing methods and tools for the purpose to achieve objectives.
The various tools use in marketing involves establishing market segments, designing, market
research and social media tools. The entire marketing process is broad and involves the
strategies that helps the organization to achieve its aims(Lo and Campos, 2018).
An explanation of marketing mix
It basically involves the various areas which are a part of marketing plan. It comprises
of 4Ps that involves promotion, product, place and price. Marketing mix is basically a tool
that involves various elements and provide guidelines for the objective to place right product
at right time and in right place. It involves the various decisions in relation to the products
and services and decisions considering the competitor’s strategy, government policy and
consumer behavior(Lemarchand, 2019).The marketing process includes the various features:
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Need to be reviewed constantly: It involves the managers of the company to review the mix
and conditions of the market in accordance to the conditions and complexity of the market
(Timothy, 2018).
Helps in achieving organizational objectives: It includes application of proper marketing
mix for the purpose to achieve targets such as profits and market share.
Crux of marketing process: It involves the various important decisions in relation to the
marketing mix for the purpose to achieve best results (Elliot, 2020).
A brief theoretical explanation of 4Ps marketing mix
The 4Ps of marketing mix includes the following:
Product: This element is considered to be the most important. A product is something which
is offered by a organization or company in order to satisfy the needs and requirements of the
consumers. In context to ASDA, the organization offers a range of services and products
through delivery merchandise. The organization offers clothing items, Groceries, mobile,
clothing items etc(Sealy and Mouatt, 2020).
Price: It is basically the monetary value paid in order to buy a product or avail a service. The
prices plays a very important role and is affected by a lot of factors. In context to ASDA, the
organization has always focuses on adopting, cheap pricing and reasonable strategy for the
purpose to attract a large number of consumers. In addition to that, the organization focuses
on creating high sales volume and large profit margins.
Promotion: It basically involves the activity to promote services and products in order to
attract large number of consumers. In context to ASDA, the organization focuses on
advertising its products and services with the help of billboards, leaflets, television, radio etc.
Moreover, the organization uses various social media platforms that includes YouTube,
Instagram, Facebook etc for the purpose to create positive brand image(RAJA SHREE,
2020).
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Place: It is basically the strategic merchandising location that includes physical stores and
online stores across multiple towns and across countries.
Introduction of product/service
A product is basically a tangible items that helps in satisfying the needs and wants of
customers. In context to ASDA, the organization is launching their new range of baby care
products and developing various strategies for the purpose to attract consumers(Chang,
2021).
Application of 4Ps marketing mix to the selected
product/service
Product
In context to ASDA, the organization is a well established brand that involves a range
of products and various other items. Now the organization is stepping in new range of baby
care products which are cruelty free and vegan. The range include products such as shampoo,
toothbrush, soap, massage oil, nappy pads etc. In context to ASDA, the organization provides
a wide range of products such as entertainment goods, fresh food, clothing, home, laundry,
household items and various other products(Toffoletti and Thorpe, 2018). The organization
also offers various financial services such as Personal loans, Credit Card, Travel Money,
Travel insurance etc. The organization is one of the leading retailers and offers a wide range
of product portfolio. The organization offers a door to door step services and involves unique
service and product kit. The organization is a giant retail and opened its first supermarket in
Castleford. The organization also opened its fresh stores after merger with Walmart. ASDA's
supercentres are large hypermarkets and are located at various places such as East lands,
Pathway, Bletchley and Livingston. The superstores are comparatively smaller than the super
centres. It also provides parcel service and ASDA living is a merchandise that offers non food
range(CHERUKUR, 2020).
Price
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Price of a product is the monetary value which is offered for buying and selling of
goods or services. It involves the process where a business sets the price at which the service
or product will be sold(Kamath, Brijesh and Mallya, 2018).The need or want of consumer
can be converted into demand of a product if the consumer has the capacity or willingness to
buy that particular product. Though the quality of every product ASDA is good and the
company has decided an affordable pricing policy for each of its product. But sometimes the
company uses psychological pricing to keep the value of product at multiple of 99 or 49. The
company for all of its products has tried to retain the net prices inside the Consumer Price
Index. It is an index used in USA and is consider the average purchase price of a product
which a customer can afford (Fogarty, 2019).
The company takes care of its consumers through their effective pricing policy. The
company is well aware of its responsibility towards the society and closely work with the
government in order to keep prices affordable and reasonable for baby products. In order to
determine the value of the product, the company has hired a team of efficient managers who
analyses the various factors which involves targeted segment, supply, demand and ability to
pay for the product. After proper evaluation the prices for these products are determined by
the company. But in case of baby products the company can charge a little extra as for such
products the company is willing to pay out the extra money for health of their
family(Lemarchand, 2019).
Place
Place is basically refers to the geographical location that includes the organization
who is involved in selling its products and services. In context to ASDA, the place plays a
very important role and helps in ensuring that the product is distributed and easy made it
available to the customers at right time and right location. In relation to ASDA, like other
retailers the organization has two main channels from where it offers and sells it products and
services. In context to organization, the organization has around 600 stores and also sells its
products through their website. The organization has various store formats that involves
supermarkets, supercentres, ASDA living, superstores etc. The organization has got its
presence from several places and follows a Simple and Fresh approach to its store
formats(Chang, 2021).
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Promotion
Promotion basically involves the various methods that are used in order to reach
target audience and informing them about various advantages of the brand, product, service
etc. In context to ASDA, the organization uses various promotional strategies such as
newspapers, television etc for the purpose to communicate with other customers. The
organization uses various kinds of methods and sales promotion tools. The company provides
special offers such as discounts, coupons , buy one get one free and various other special
offers. In context to ASDA, the organizations strongly believes that main method to achieve
success is an effective marketing policy(Başarir and Yilmaz, 2019).
The company has created an eye catching commercials through hoardings, leaflets,
billboards, radio, television channels etc. The organization uses uses various social media
platforms such as Facebook, Instagram, YouTube and various other social media platforms
for the purpose to create brand equity. The company as a part of its promotional strategy,
announces incentives and periodic discounts. These promotional strategies helps the
organization is creating strong customer base and loyal consumers. The organization also
identifies the power of endorsements done by celebrity and has promoted its products through
various personalities such as Hattie Jacques, Leonard Rossiter, Richard Beckinsale etc. The
organization also uses unique taglines such as “All Together Better'', “Save Money Live
Better” that helps in increasing the brand visibility.
Conclusion
From the above report it can be concluded that marketing plays a very important role
in organization and helps in determining the importance of marketing mix and its various
elements. It further helps in determining how the marketing process and various marketing
elements plays a important role in organizations such as ASDA. The report further helps in
analyzing the various factors and elements of marketing mix such Price, place, product and
promotion and how it plays a important role in the organization. In context to ASDA, it has
been analyzed that the company effectively uses its marketing strategies in order to attract
new customers and spend a lot of money on promotional strategies and also sells and offers
its products and services at reasonable prices that helps the organization to effectively
achieve its organizational objectives.
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References
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