Contemporary Issues In Marketing: Understanding the 4Ps of Marketing Mix

This article discusses the importance of marketing mix in promoting products and services in the business market world. It explains the 4Ps of marketing mix and their application in Enterprise Rent-A-Car. The article also highlights the role of marketing in business growth and consumer satisfaction.

Contemporary Issues In
Marketing

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Statement of marketing................................................................................................................1
Statement of marketing mix.........................................................................................................2
A hypothetical discussion of 4Ps marketing mix.........................................................................2
Introduction to product and services............................................................................................3
Application of 4Ps of marketing mix...........................................................................................4
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing mix refers to the set of activities and actions, which is used to promote a
product or brand in the market business and sell it. This is the process which considers various
areas and regions across the nation. Impressive marketing mainly touches the worldwide regions.
Marketing mix comprises of assistance in marketing derivatives which includes 4Ps and they are
in terms of Price, Product, Promotion and Place. These offerings meet the basic necessities or
demands. Marketing refers to activities and actions of company or firm which undertakes to
promote the buying or selling of product and services in the marketplaces. Many issuances are
currently comprised with the marketing which includes worldwide understanding and personal
logical and analytical understanding of the local and related issues with the marketing. The
present marketing issuances impact on alteration on global economic science (Augustus, 2021).
People out there will get to know about manufacturing offerings and related influences them to
purchase specific and very particular goods and products. These series of activities and business
action plans are mainly utilised by the enterprise to aid promotion of their products and brand
and trade name in the market. It attracts the consumers by attractive and innovative advertising
techniques. Enterprise Rent-A- Car is an executive granting organisation which was founded and
based by Jack Taylor at St. Louis in the year 1957. He firstly, started with only 7 cars with a
belief that the consumers will grasp the original concept of appointing auto mobiles.
MAIN BODY
Statement of marketing
Marketing refers to actions and businesses or promoting the selling of products or goods
with related services including market research and advertising that will foster the fecundity of
the of the organisation. Marketing mainly covers the set of activities that an organisation holds
and are accountable for processing creation, communication, exchange in offerings which
embraces the value for consumers, clients, partners and society at large. The marketing learning
has reached a broad height but still are evolving to fix their related changeable issuances (Kwok
and et. al., 2020). Marketing also aids in fixing, determining, anticipating, and appreciating their
consumer's requirements and necessities with profit. The contemporary marketing has two
various meanings which is according to consumers who utilises them. Marketing has a
significant role of educating consumes and people about the specific products and goods. When
1

people are well known and informed about the products and goods, the sales will incline.
Marketing holds a great help for many consumers and business establishments that fosters in
creating revenue alternative. This only happens when business sectors or firms strategies in
inclining business profits. Second meaning includes explaining of organisational growth and
related successful business plan action. This significance of marketing is dependent on large
extents on identifying their consumers necessities, developing sales strategies and good product,
pricing, distributing and encouraging consumer's effectively (Lahtinen and et. al., 2020). It is
difficult to uphold sales and consumers attention without commercialism within the masses and
consumers who are well known of the organisational offerings. Effective marketing and business
plan of actions should be developed to manufacture goods and services into a brand.
Statement of marketing mix
Marketing mix is a considered as the set of marketing tools and tactics which aids in
promotion of products and services in the business market world. Marketing mix includes focus
on multiple areas at a time as a part of a comprehensive marketing plans. This marketing mix
explains the motive of 4Ps derivatives that includes Price, Product,Promotion and Place. This is
used to encourage the sale and selling of goods and services in the market and business world.
The marketing mix can be dominated but this mainly is dependent on internal and external
environment to meet consumer's needs and necessities and related choices. Organisation usually
uses various marketing and business plan of actions (Lim, 2021). Impressive marketing touches
on a wide range of regions and areas.
A hypothetical discussion of 4Ps marketing mix
These are crucial derivatives that are involved in marketing of goods and services relate
to sales. These include price, place, promotion and product of goods and services. These are
explained and discussed in internal and external factor in gross business environment. This
comprises of all necessities that a company can do for their fecundity. This assists in marketing
strategies and planning for successful performances. These are conceptual and are explained by
producers which includes planning having allowances to identify and determine demands and
consumer's choices and preferences. The cost prices should be compatible and affordable with
placement of products and services (Mangan, 2018).
Effective marketing mix aids in creation of strong bonds between producer and
consumer. This also brings assistances in company making combination of ingredients which
2

will enable wise managing of organisational funds which fulfils their demands of goods. A
product or good is something that offers satisfaction to consumer's needs and necessities by the
company. Product or good is categorised into two and they are goods and services. Goods refers
to tangible or voluntary product and services refers to involuntary or intangible products. Cost
price is known as monetary values of products which is offered by organisation (NGUGI and et.
al., 2020).
Marketing mix aids in determining products which can be offered to consumer, which
determines where, how and what to attract consumers. Organisation those are trying to operate in
impressive manner and they accountable to control and manage all components of marketing in
order to fulfil their aims and desired goals and objectives.
Introduction to product and services
Product and services are two essential and very crucial components of business. Without
these components, no business organisation can grown in business market world. Goods is
considered as tangible products and items which is bring forth in market for attention,
accomplishment and consumption (Niininen, 2021).. Service refers to intangible items and
products that arises from the outcomes of different producer or individual. Organisations usually
adopts various measures to mass production, promotion and distribution to accomplish higher
scale of economics, lower costs of production and achieving fecundity. Organisation designs
and frames a unique selling suggestion and proposition that would foster in meeting consumer's
needs and necessities. This aids in differentiating and distinguishing their products from
competitor's products. Price associates with realising value by consumers. The cost price should
be in accordance with proportion to value of products. Publicity of products should be effective
and must convince consumer about the values and recognition which their products hold and
how their products are suitable to choose. The decision is accountable on about places and
methods related to goods and services and how they are available when needed. Enterprise Rent-
A-Car provides and offers their consumers for local and rents associated on airports, sharing of
vehicles, car and van hiring services. Enterprise Rent-A-Car also provides business solutions
which is useful for long term technical vehicle and specialised fast growing demands of LCVs,
vehicles that are specialised with fundamental quantity control and other accessible and
affordable minibuses (Pinarbasi, 2019). This enterprise has brand value which is established and
holds accountability in providing special services of car renting commercially.
3

Application of 4Ps of marketing mix
Marketing mix refers to pricing, place, product and promotional plan of actions of
enterprise which will foster and aid in developing and carrying out achievement strategies to
target market and business world. Marketing mix is generally associated with plan of actions
having with solutions related to meeting consumer's necessities. And ultimately to fulfil the
requirements of the enterprise and their desired aims and goals. Marketing aids business
professionals to analyse consumer's demands and their basic necessities, and their achievement
related to consumer's demands and requirements (Prior and Keränen, 2020). In proportion to
Enterprise Rent-A-Car, marketing mix plan of actions are mentioned below:
 Product: Products refers to gods and services that an organisation offers to their
consumers. A product should be able to fulfil and accomplish consumer's demand and
their choices. And affordability and choice for willingness to pay good cost prices.
Products involving good and services that includes materials such as clothing, grocery
items, furniture, services. Goods conceptions are very widely ranged and this includes
not just natural goods and products but also people, their experiences, places, business,
information and many other related conceptions.
Enterprise Rent-A-Car sells a large assortment and varieties of rental cars. This includes
local and rentals related to airport, controlled vehicles with temperature specifications, accessible
minibuses, sharing of motor vehicle, hiring of unusual car and van. Enterprise Rent-A-Car is a
part of St. Louis founded organisation ownership which is basically personal (Rapoport, 2019).
Rent-A-Car also operates the Alamo Rent-A-Car brands and National Car Rental. This also
provides fast specialisations including HGVs. Enterprise Rent-A-Car is a derivative of biggest
and largest transportation solution supplier worldwide. This enterprise started off with seven cars
in St. Louis. But now it has a collection of two million transport system worldwide in over 7900
locations in 100 countries.
 Price: It refers to as a key component in the field of marketing mix as this depicts an
organisational survival and related earnings. This brings value to organisation which pays
exchange for products and services offered by organisation. Crucial alteration in cost
prices will impact property of particular business models and exemplarities. This is an
essential measure which impacts and enhances organisational fecundities and related
market shares. There are various factors that affects cost price of products and goods and
4

they include price list, competitor's price, related discount and sales teams. Ultimately,
product's price is referred to as only component of marketing mix which generates
income and very significant consumer's gratification and loyalty factors and related
satisfaction majors (Thabit and Raewf, 2018).
Enterprise Rent-A-Car had their different strategies and approaches relating to pricing
which was based on market competition and they were very crucial for grocers. This
organisation had a clear vision that any consumer should not leave products on the basis of their
pricing. And this significant measured helped organisation in adding more to their consumer base
and in this way the consumer never left looking for other organisation for erecting cars and vans.
Enterprise Rent-A-Car utilises tops class and high ranged cars with satisfactory cost prices which
ultimately attracts their consumers base. This cost includes various maintenance cost, labour
cost, and other machine related costs.
 Place: Place plays an essential role in determining marketing mix which is also known as
distribution. This is great method and process involved in goods and services that would
foster in delivery of goods and services to the consumers. This refers to complex system
where organisation creates and produces goods and services that would aid in self
directed commercialisation and trading businesses. This ultimately involves plan actions
and conclusion related to item's transportation and shipping from manufacturers to
consumers.
Enterprise Rent-A-Car offers it's services in entire UK and their services are also
available worldwide and some of the nations includes Ireland, Germany, France, United States,
and Canada. They provide their services at over 7900 regions in 100 nations having employees
approximately to 100000 and they are accountable to operate more than 10000 branches across
the globe. This provides renting of cars and vans hourly.
 Promotion: Promotion is the last factor of marketing mix which assists in inclination to
awareness in terms of organisational goods and services within organisation. This brings
forth high demand and advanced and progressive sale which further aids in brand
building of organisational commitment (Tonkova, 2019). . Marketing mix has a tool
known as publicity which is responsible in fostering assistance to spread data,
promotion of purchase and impacting action plans related to buying decisions.
Promotion aids in influencing consumers to buy products.
5

Enterprises Rent-A-Car provides a loads of deals, promotion and travel partners on cars
and vans hiring. They also have related rewards for their consumers and travel partners. Travel
partners aid in earning miles, and points on car hiring. These offers provides various deals which
includes Email offerings and car rentals at lowered rates.
CONCLUSION
From the above study, it can be conferred that marketing mix aids in certain decision
making and activities. These are designed and framed accordingly to foster organisational
growth by meeting consumer's necessities and enhancing organisation's fecundity and success.
Business foremost aim is to provide consumer satisfaction and fulfil their needs. The 4Ps
including price, promotion, place and product aids in the promotional majors of firm and this
aids in sales at higher and at wider ranges. Thus, it is conferred that marketing mix has a vital
role in business marketing and aids in effective action plan to organisation.
6

REFERENCES
Books and Journals:
Augustus, J., 2021. Redefining College Softball. Miss. Sports L. Rev., 10, p.181.
Kwok, L., Tang, Y. and Yu, B., 2020. The 7 Ps marketing mix of home-sharing services: Mining
travelers’ online reviews on Airbnb. International Journal of Hospitality Management, 90,
p.102616.
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
Social Marketing.
Lim, W.M., 2021. A marketing mix typology for integrated care: The 10 Ps. Journal of Strategic
Marketing, 29(5), pp.453-469.
Mangan, M., 2018. The value of vanpooling as a Strategic, cost-effective, and sustainable
transportation option. Institute of Transportation Engineers. ITE Journal, 88(2), pp.36-39.
NGUGI, D.G., MCHARO, M. and MUNGE, M., 2020. Application of the 4 Ps Marketing Mix
by Micro and Small-Scale Traders in Kenya. Impact on Household Incomes. Journal of
Applied Economic Sciences, 15(3).
Niininen, O. ed., 2021. Contemporary Issues in Digital Marketing. Routledge.
Pinarbasi, F., 2019. Contemporary Issues and Challenges in Marketing Environment
Worldwide. Handbook of Research on Managerial Thinking in Global Business
Economics, pp.22-40.
Prior, D.D. and Keränen, J., 2020. Revisiting contemporary issues in B2B marketing: It's not just
about artificial intelligence. Australasian Marketing Journal (AMJ), 28(2), pp.83-89.
Rapoport, N.B., 2019. Using General Counsel to Set the Tone for Work in Large Chapter 11
Cases. Fordham L. Rev., 88, p.1727.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies, 4(4).
Tonkova, E., 2019. UPDATING MARKETING–CONTEMPORARY ISSUES. FACULTY OF
ECONOMICS-PRILEP UNIVERSITY „St. KLIMENT OHRIDSKI “-BITOLA, p.482.
7