Marketing Mix Elements - Doc

Marketing- LO2

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 2............................................................................................................................................1
P3 Marketing mix to the marketing planning process to achieve business objectives...........1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing mix elements are used by businesses in order to achieve customer satisfaction,
profitability and production goals. The report will present marketing mix with reference to
marketing planning process of Marks and Spencer and ASDA to achieve business objectives.
TASK 2
P3 Marketing mix to the marketing planning process to achieve business objectives
In order to achieve desired goals and objectives, proper and appropriate management is
needed by ASDA. 7Ps are core element of marketing mix which helps in managing value of
business products and services. These are some key factors that helps firm to meet various
requirements and demand of market and consumers. This helps ASDA to determine its strategies
and plans which can be used to attain needs of target consumers in the market. In addition to this,
there are various elements which are considered by firm in order to accomplish market objectives
and goals (Lamey, and et.al., 2018). The benefit of this approach help organisation to gain
competitive advantage and also improve its strengths and competency level. The effective use of
marketing mix elements by ASDA is presented below:
Product: The focus of business is on improving and developing its products and services in
order to meet consumer requirements. It has been determined that, ASDA sells around 30000
products and services through supermarket retail businesses and also offer mobile phone and
funding services to gain extra benefit for firm in order to build its goodwill. In addition, market
research also helps organisation to define exact picture of product. The existing products and
services requires improvement with the help of the latest technologies in order to achieve new
market requirements that helps to satisfy customer needs. This helps company in increasing
customer loyalty and also enhances production and profitability of business.
Price: It can be said that, it is very crucial for the firm to set their prices according to the quality
of products and services in the market and also evaluating customer perception. Pricing strategy
is used by firm to set prices effectively and accordingly. The firm implements the use of low
price strategies to sell high volume of products and services. Several end seasons, festive
discounts are set by firm to grab consumer attention and to increase profitability. There are two
types of customers, first who thinks that low priced products are of low quality and second who
thinks high priced products are too costly according to the quality.
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