Marketing Mix for Home and Toilet Hygiene Products by TESCO

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
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Contents
Introduction.............................................................................................................................2
An explanation of marketing.................................................................................................2
An explanation of marketing mix.........................................................................................3
A brief theoretical explanation of 4Ps marketing mix........................................................3
Introduction of product/service.............................................................................................4
Application of 4Ps marketing mix to the selected product/service..................................5
Product................................................................................................................................5
Price.................................................................................................................................... 5
Place....................................................................................................................................6
Promotion........................................................................................................................... 6
Conclusion.............................................................................................................................. 7
References............................................................................................................................. 8
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Introduction
Marketing is an important function of an organization which helps it to sell its
products and services effectively and efficiently. Marketing involves many activities
such as promotion, distribution, selling etc. that helps the business to create
awareness and persuade customers to buy their products or services. TESCO is a
retail organization that is headquartered in Welwyn Garden, England and was
founded in the year 1919. This report will demonstrate the concept of marketing,
marketing mix which is the combination of certain elements that strengthen the
marketing activity of a business. Moreover, it will discuss about marketing 4P
elements that include product, price, place and promotion. Furthermore, it will
discuss about the use of marketing mix for creating effective marketing policy for a
newly developed product or service.
An explanation of marketing
Marketing consists of many activities that are undertaken by a company to
enhance the awareness of its products and services in the market and drive
customers' will to purchase them. Marketing involves promotion, sales, distribution
and many other activities in order to attract the customers and raise willingness to
purchase those products and services (Rahman and Ayaz, 2018). Marketing is a
complex activity which involves a process for developing, interacting, transferring,
sales and exchange offerings that are worthy for customers, retailers, wholesalers,
partners and the community as a whole.
Marketing helps an organization to create demand for its products and
services in the market and sell them easily. It helps an organization to create brand
awareness and positive image of its product and services in the minds of customers
and prospects. Marketing also involves the activity of identifying the market demand
or customer needs and utilizing that information to create goods and services to fulfill
market demand and customer needs. Marketing also acts as a statistical tool to
identify the right time and right location to place the products in the market so that
maximum number of customers can be reached. Marketing does not only fulfill the
demand of customers but it also provides useful insight to the producers about their
performance in the market (Jedin and Balachandran, 2021). Marking activity helps to
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