Understanding the Marketing Mix and its Application in the Contemporary Business Context: A Case Study of Enterprise Rent-a-Car

This report provides an understanding of the marketing process and the concept of the marketing mix. It explains how the marketing mix is employed when developing a new product/service, using Enterprise Rent-a-Car as a case study.

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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1.Demonstrate a knowledge and understanding of the marketing process in the contemporary
business context..........................................................................................................................3
Marketing...............................................................................................................................3
The statement of mix marketing.............................................................................................4
A brief hypothetical explanation of 4Ps marketing mix.........................................................4
2. Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service....................................................................5
Apply four P's on the chosen services and product-...............................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The marketing mix is mentioned as utilisation of marketing tool which compound many
components to become solid and hard product brand and assists in sell of goods and services.
Enterprise is based on products which comes with an strategy to sell the goods and marketing
mix is one of them. Marketing mix is a tool for marketing which is used for goods and service
marketing in a market. This is for positioning of goods and sell them at right place on right time.
Moreover, this gives assistance to identify the trends of market through changing the fluctuation
in regard of preference, product, pricing, demand, promotional activity and supply of any
commodity, etc. Goods were sold as according to marketing strategy. There are many challenges
which influence process of marketing in global economics. The consumer is concerned for
services and product which were offered through various organisation and satisfy their need or
not. The enterprise have to speed up their product's production which is in demand by the
consumers. The marketing mix activity assists many organisation for promote their gross sale
and enhance profits. This is a tool which makes right marketing strategy and implement this
through effective technique(Solimun, and Fernandes, 2018). The company which considered in
this is Enterprise Rent a car which was founded by Jack Taylor in year 1957. He started this
company with seven cars and believed that consumers are going to embrace the concept of
renting a car in St. Louis. The report demonstrates the understanding and knowledge of the
process of marketing in relation to the company. This also states the understanding concept of
marketing mix and explanation on how this is employed at time of developing new services and
goods.
MAIN BODY
1.Demonstrate a knowledge and understanding of the marketing process in the
contemporary business context.
Marketing
The process of marketing is referred as creation, exploration and delivery of value to
meet the wants in targeted market in relation of services and products which includes selection of
targeted consumer, select attributions which emphasize in advertising, attendance at public event
and trade show, designing of packaging and goods, condition and terms of sales. In the current

scenario, marketing is a key aspect for doing business. This is responsible to decide needs of
customers through anticipating demand of various customer base. Moreover, this is accountable
to anticipate, appreciated and determine wants of consumer with profit. As per the people,
modern marketing have two meaning. The main importance of marketing to influence and sell to
the potential individual. The other meaning of marketing is for contribute towards growth of
company and success in a great extent through identify wants of customers, develops product as
per demand of customer's pricing, supplying of effective products(Ndofirepi, Farinloye, and
Mogaji, 2020). Without marketing of goods, the people were not aware for the products of a
enterprise. The enterprise have to develop their action plan for doing effective marketing to
convert goods into the brand.
The statement of mix marketing
The marketing mix is being consider as a plan of action and set of act, the enterprise use
for promote their brand or products in the place of market. Marketing is totally depended on
external and internal factors which affect demand of consumer in the marketplace. In according
to the demand of consumer and their preferences, the enterprise have made their plan of
marketing as per providing then product in accordance with their wants. They have to made the
strategy of marketing smartly and focus on many sector in which the organisation have to spent
their money and time.
A brief hypothetical explanation of 4Ps marketing mix
To get the idea for current trends in marketing will implements 4 P's of marketing which
is product, price, promotion and place. The elements which were consider for being the external
and internal element effects environment of business. This includes all basic elements which is
mandatory to determine the preference and taste of potential consumers to meed demands of
consumers. For example, the enterprise set price for their product as per their quality. In addition
to this assures the actual implementing plan of marketing and take actions order for to achieve
organisational objective which prompts their services and products(Lim, and, et. al., 2021). The
effective marketing assists the enterprise for building a strong relation with customers. This
further aids the enterprise for recognising the demand of customer and how to fulfilling their
demand. Product marketing make this easy which explain detail for relevant product in regard

for their price, components which utilised in wholesalers, manufacturing, retail agency, expiry
date of the product and many more. Goods and services are the aspects for the products. Goods
have tangible nature and services are intangible in nature. Price which is decided through the
enterprise is worth services and goods. Marketing mix give aid to the enterprise for determining
the price of their services and product and how to hold consumer base of them. Moreover, the
sectors which have to be targeted for attracting new customers(Lim, Jee, and De Run, 2020).
This assists the enterprise to focus on operating and achieve their desired goals.
Product and services- There is no business available which functions without any
engagement of services and goods. No enterprise of business can grow without them in the
marketplace. Goods are of tangible form which were used and consumed through the customers.
Services are of intangible form which only have to be measured through the outcome of different
individuals. The enterprise in order to gain higher sales they utilise to do promotional activity,
production and try to control cost of goods, in the end all efforts aids organisation for increasing
the profit. The enterprise differentiate in services and products through their competitors. This
attracts more customers to their services and products which they offers. The services and
products do have very less differentiable attributes from the competitors. The enterprise have to
market the product from publishing which assists them in making their positive image of brand
in their customers. This is very important for a commodity to be listed in a reasonable price. The
enterprise should price their product on basis of quantity and quality of the commodity. Usually,
the goods price have to be justified through the quality of product. The enterprise do take
decision as according to how they can sell their product and make them accessible to each
customer. The entities which are in business of renting a car, rent's their vehicles to customers for
various purposes. They have travellers, buses, Suv's, mini cars, luxury cars and many more. The
services price were determined through variant and size of the car. All of their vehicles are of
good condition and have well facilities such as rest room, TV, kitchens and many more. All of
the facilities changes as per the size of the vehicle(Lahtinen, Dietrich, and Rundle-Thiele,
2020).

2. Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service.
Apply four P's on the chosen services and product-
marketing is a tool which assists the enterprise for examine the market in accordance of customer
demand and needs. In addition, this assists business for making a successful strategy for fulfilling
aims and desired goals of the enterprise. Marketing mix is consider as good solution for their
problem which raise through gaining demand of the customer(Stead, and Hastings, 2018).
The strategy of marketing mix in according to the enterprise who rent a car as follows-
 Product- This is referred as both services and goods which offer through different
enterprise as order to achieve goals of desired consumers. Through achieving needs of
consumer for paying price for their product. The enterprise which provides cars on basis
of rental, they provides services through renting or leasing their vehicles to consumers.
The services includes offer such as holiday rental, airport rental and many more. All of
the vehicles were well equipped and provides facilities as per rental vehicle. The
specified enterprise commence the business with 7 cars and they operates in approx 100
countries and they have now over 2 million cars.
 Price- Money is the main factor for doing business. This is consider as an essential
element for marketing mix as this assists the organisation for getting a clear prospect of
profitability. Price of a good mentions the worth of services and goods which is available
through the organisation to their consumers(Kumar, Shankar, and Aljohani, 2020). This
is ascertained after changing of competitors discount provided through them, product and
the price which changes through various enterprise for a similar product. The enterprise
who is in business for renting a car offers a competitive price as according to the size of
the vehicle. The enterprise doing their best for maintaining price of their services as
according that they do not want to loose their customer base.
 Place- In accordance to make a brand which is recognizable, they reach out many places
in the international and domestic market. This can be done early in case the enterprise
have to target new cities as per expanding their existing customer base. The enterprise
which engages in business renting a car provides their services for all of the town in UK

and many countries like Spain, USA, Germany, Canada and many more. The enterprise
expands their business in more than 100 countries.
 Promotion- The factors of promotion were consider as essential activities in accordance
of the services and products in marketing mix. This assists the enterprise for publish their
services and goods to spread awareness in the people related to what a company offers.
This also aids the enterprise for attracting potential customers who have to experience the
services and products(Kim, and Kim, 2018). The activity make sure their healthier profit
and sales. The enterprise rent-a-car offers many discounts and rewards for promoting
their services. The enterprise provides various advantages for the consumer like on each
booking the customer gets some rewards and if they hire this service more than 3-4 time
than they were be eligible for big discount on next booking in accordance of these points
which they earn in the previous ride, they also offers many membership of clubs and
those who get registered for membership of club will get additional discount on their
upcoming bookings.
CONCLUSION
In the precise report this is been concluded that the marketing mix assists in definite
action and decision. There are plans for the company objective and fulfils requirements of
consumers. This is mandatory for an enterprise to offer goods and services which meet need of
the consumer and assists in getting remaining profit and success. Business is really mandatory
for the consumer whose desire were being satisfied. The explanations were implemented in a
plan and decisions which were related to 4Ps includes many factors. Product is a marketing
element which cover decision and action which were connected with the changes and
development of product. Price is an essential factor of marketing mix which assists in enhancing
growth and profit of organisation. Promotion is the process which assists to attract consumers for
buying products. In last, this is concluded that the marketing mix is a mandatory factor for
marketing which play an important role in business for executing their plan of action effectively.

REFERENCES
Books and Journals
Kim, M.S. and Kim, J., 2018. Linking marketing mix elements to passion-driven behavior
toward a brand: Evidence from the foodservice industry. International Journal of
Contemporary Hospitality Management, 30(10), pp.3040-3058.
Kumar, A., Shankar, R. and Aljohani, N.R., 2020. A big data driven framework for demand-
driven forecasting with effects of marketing-mix variables. Industrial marketing
management, 90, pp.493-507.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix. Testing the
effectiveness of the commercial marketing mix in a social marketing context. Journal of
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Lim, W.M., Jee, T.W. and De Run, E.C., 2020. Strategic brand management for higher education
institutions with graduate degree programs: empirical insights from the higher education
marketing mix. Journal of Strategic Marketing, 28(3), pp.225-245.
Lim, X.J.,and, et. al., 2021. The effects of anthropomorphism presence and the marketing mix
have on retail app continuance use intention. Technological Forecasting and Social
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Ndofirepi, E., Farinloye, T. and Mogaji, E., 2020. Marketing mix in a heterogenous higher
education market: A case of Africa. In Understanding the higher education market in
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Solimun, S. and Fernandes, A.A.R., 2018. The mediation effect of customer satisfaction in the
relationship between service quality, service orientation, and marketing mix strategy to
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Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance
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