Contemporary Issues in Marketing: Importance of Marketing Mix and Customer Satisfaction

Running Head: CONTEMPORARY ISSUES IN MARKETING
CONTEMPORARY ISSUES IN MARKETING
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CONTEMPORARY ISSUES IN MARKETING
Table of Contents
Introduction...........................................................................................................................................2
Nature and importance of the marketing mix........................................................................................2
Nature of the marketing mix..............................................................................................................2
A mixture of marketing elements..................................................................................................2
Significant for meeting the marketing targets................................................................................2
Flexible and dynamic concept.......................................................................................................2
Adjacent of components................................................................................................................2
Marketing manager acts as a mixer of ingredients.........................................................................3
Customer is the focus point...........................................................................................................3
Variables are interrelated...............................................................................................................3
Consumer-oriented activity............................................................................................................3
Significance of the marketing mix.....................................................................................................4
Product strategy.............................................................................................................................4
Price strategy.................................................................................................................................4
Place strategy.................................................................................................................................5
Promotion strategy.........................................................................................................................5
How marketing mix and marketing theory impact the success of marketing activity with particular
reference to customer satisfaction..........................................................................................................6
Product strategy and customers satisfaction......................................................................................6
Price strategy and Customer Satisfaction...........................................................................................7
Place strategy and Customer Satisfaction..........................................................................................7
Promotion strategy and Customer Satisfaction..................................................................................7
Conclusion and recommendation...........................................................................................................8
Conclusion.........................................................................................................................................8
Recommendation...............................................................................................................................8
Training and development method................................................................................................9
Digital marketing technique...........................................................................................................9
Effective Website..........................................................................................................................9
Bibliography........................................................................................................................................10

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CONTEMPORARY ISSUES IN MARKETING
Introduction
In the current business era, marketing mix plays an important role in promoting the goods and
services of the organization. There are three factors that are considered in the marketing
mixes like the product, price, place, and promotion (Fan, et al., 2015). These factors could
assist the organization to satisfy the needs of the organization. This report presents the nature
and importance of the marketing mix. It discusses how marketing mix and marketing theory
impact on customers satisfaction.
Nature and importance of the marketing mix
Nature of the marketing mix
A mixture of marketing elements
The marketing mix is a combination of four significant factors like product, price, place, and
promotion as these factors could be interdependent.
Significant for meeting the marketing targets
The marketing mix enables an organization to the accomplishment of marketing goals as it
could be in terms of the profit, sales, and consumer satisfaction (Posner, et al., 2015). It could
be a marketing tool as it could be used for the accomplishment of the marketing objectives.
Flexible and dynamic concept
The marketing mix is a flexible technique as it allows the company to changes in their
business process on the basis of the time. The marketing mix could be essential for a firm to
get higher competitive benefits in the least time. Though this technique, the organization will
be capable to modify themselves as per the demand of the market that could lead to getting a
reliable result.
Adjacent of components
The marketing mix components are connected and requirements of appropriate alteration
from time to time. The updating of marketing mix could be effective for the attainment of the
marketing objectives. In addition, it is analyzed that the marketing mix could promote the

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CONTEMPORARY ISSUES IN MARKETING
products and services of the organization on the basis of the consumer’s preference
(Sinapuelas, et al., 2015).
Marketing manager acts as a mixer of ingredients
From the application of the marketing mix, the marketing executive of the organization acts
as the ingredients mixer as it would be effective for the accomplishment of the desired goal in
the least time. There are certain factors that could be consider by the marketing manager like
idealistic, imagination, and logistic skills to effectively use the marketing mix in the
organization and higher competitive benefits (Astuti, et al., 2015).
Customer is the focus point
The consumer is the key factor for the marketing as it leads to the organization for getting
higher competitive benefits in limited time and cost. The satisfaction level of the consumers
also another important concept that could be considered by the marketing manager to
accomplish their desired marketing goal. The marketing mix variables could be effective for
increasing the satisfaction of consumers.
Variables are interrelated
Factors of the marketing mix are interrelated. The decision of one sector could influence all
sectors. Hence, the marketing manager makes a realistic decision with respect to marketing.
Consumer-oriented activity
The marketing mix is based on consumer-oriented activity as their aim is to deliver the
higher satisfaction to the consumer by giving the preference to consumer’s need. It could be
imperative for the attainment of the organizational aim. The Marketing mix is a tool that is
used to influence the buying behavior of the consumers towards the products and services of
the firm. Each marketing mix tool could lead to deliver consumer benefits (Bahadir, et al.,
2015).