The Nature and Importance of Marketing Mix in Marketing Process

This report discusses the nature and importance of marketing mix in the marketing process, with a focus on the 4Ps of marketing mix - product, price, place, and promotion. It also covers the application of these concepts to a selected product/service, women's clothes, offered by Mark and Spencer. The report highlights the significance of marketing in building positive relationships with customers and fulfilling their needs and desires.

BSc (Hons) Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
Submitted by:
Name:
ID:

Contents
Introduction 3
An explanation of marketing 3
An explanation of marketing mix 3
A brief theoretical explanation of 4Ps marketing mix
4
Introduction of product/service
5
Application of 4Ps marketing mix to the selected
product/service 6
Product 6
Price 6
Place 6
Promotion 6
Conclusion 8
References 9

Introduction
Marketing is defined as an tool and procedure which is applied by the company for
increasing the sale and popularity of their product easily in various locations. It includes
effective distribution system, allocation of budget, promotional strategies and others. The
chosen company is Mark and Spencer for understanding the nature and process of marketing
mix. The company was established in 1884 and is headquartered in UK (Bijakšić, Leko and
Raguž, 2021). It is a multinational retail based company and this firm are dealing with wide
range of products which includes home appliances, electronic items, food products and others.
This report will be covered explanation of marketing and marketing mix, brief theoretical
explanation of 4Ps marketing mix. It also covers introduction of product and service,
application of 4P's marketing mix. Due to effective marketing company are able to identify
those customers who are valuable for their product in long term. It leads to increase the revenue
of organization in long term.
An explanation of marketing
In marketing advanced equipment and digital platforms are highly consumed by
company for introducing their new and existing products effectively and in fast manner. By
using different marketing methods the reach of company's product and services are easily
increased in short duration. In marketing different types of strategies are applied by the
company for develop strong relations with customers and also for delivering best quality
products to them successfully. In context to Mark and Spencer, they are used social media,
official portals and some apps for displaying their product in front of customers at wide range,
Due to the effective use of digitization customers are able to access reliable and accurate
information regarding company product from any location within low time. The main
advantage for utilizing digital equipment's by company is that positive relationship between
employee and customer are effectively developed for long duration. It leads to sustain the
productivity of firm between public for long duration.
An explanation of marketing mix
Marketing mix is basically a method or set of actions which is used by Mark and Spencer
for enhancing the sale of existing and new product in market. Due to using this process company
target those customers who are responsible to increase their productivity and revenue at large

scale. In marketing mix mainly four stages are involved which includes product, price, place and
promotion. The combination of 4P's helps the company to run their activity smoothly and the
main product of this company are fashionable cloths food products and others. With help of this
method company are able to identify those locations where customer liked their product very
much. With help of effective marketing mix company are able to maintain good coordination
with targeted audience for long period.
A brief theoretical explanation of 4Ps marketing mix
As already mentioned above marketing mix is the combination of four elements which
includes product, price, place and promotion. Due to utilizing these method the potentiality,
ability and work efficiency of company are easily enhanced at large scale in different locations.
 Product – It refers to enhancing the availability of product at wide range in both offline
and online mode in various areas (Bunyamin and Iskandar, 2021). In context to Mark
and Spencer, when the availability of their products are enhanced in both aspects, then
definitely convenience of customers are highly increased for buying their products like
cloths and others. Due to increasing convenience or opening stores in different locations
users easily avail their services in low time.
 Price – It means fixing fair and favorable price which is essential for organization to
increase the sale and popularity of their product between public effectively. In context to
Mark and Spencer, price is the very important concept during the time of sell and supply
their product in market. In comparison with other competitors there their price are very
high in their product specially in woman cloths. Due to their high cost their profit margin
and customers are easily decreased.
 Place – It refer to identifying suitable and reliable location by company which leads to
attract the consumers in large number towards their services. In context to Mark and
Spencer, authority are used effective infrastructure or distribution channel in both
physical and online mode. It leads to build strong communication with their suppliers
and consumers for long duration. In this way users always received the best quality
product from company in short time in any location.

 Promotion – Promotion basically refer to use of various marketing or promotional
strategies by firm for increasing the awareness of their product. In context to Mark and
Spencer, management are used some specific strategies in their stores or in digital
platform. It includes advertising, digital marketing, personal selling and others. Due to
using this strategy wants and desires of the customers are effectively increased for
availing their product. It also increased the profit and goodwill of company in market
easily.
Introduction of product/service
The main product of this company is woman clothes which are which are highly popular
and fashionable in market and between public (Chanprasert, 2021). Women cloths includes
includes skirts, saris, jacket, gloves and others. According to the above information it is
understood that women cloths are highly consumable or have high demand in market. In today's
time women is one of the client and customer who buy the cloths in every occasion and function
which leads to increase the profit of company easily. In context to Mark and Spencer, they
produced these type of products in attractive manner. The other highlight of women cloths is
that these products are designed according to the current culture and tradition of various
countries. Because effective analysis of culture is the most essential concept for organization
during the time of delivering their product and services to customers of all segments.
In aspect of service management are using digital platform and AI technology for
serving their products to users in fast manner. Due to the effective utilization of technology
basic requirements of the customers are fulfilled in time. It also helps to increase the customer
convenience at large extant. Due to enhancing convenience visits of the customers in company
store are easily sustained in long term in the form of good relationship. In this way positive word
of mouth are highly spread from customer towards company effectively.
Application of 4Ps marketing mix to the selected
product/service

The definition of the marketing mix are already described above. Then according to this
method the product of this company are sold on the basis of four marketing stages which are
described below -
Product
The name of the product which is already running in the market of Mark and Spencer is
women cloths which are highly popular between women. The reasons for their popularity is that
clothes of this company are highly reliable and durable for customers in long term. Due to this
positive image of the company are easily sustained in minds of customers for long time in every
location. Therefore, receiving quality based product from customers is highly mandatory for
developing positive experience of users at maximum level.
Price
In context to women clothes management of Mark and Spencer always maintained
middle or high price in their products (Choi and Powers, 2021). It leads to decrease the
popularity and sale of various product in different locations. Due to this it is necessary for the
management that they must keep different or average price in their ladies clothes which includes
gloves, jacket, jeans, skirt etc. Due to using this type of strategy market share and portfolio of
the company are easily enhanced. With help of using discounting offers and beneficial schemes
consumers are attracted in large number for availing their services.
Place
Here place refer to those locations which is preferred by the management of Mark and
Spencer. Because good location is highly essential for increasing the reach of their services and
products of women to all categories of customers at maximum level. The other important point
in this factor is that prime helps company to maintain good connectivity with their stakeholders
and agencies. Because due to effective communication risk are highly decreased in their
business activities and functions are run in smooth manner. Due to choosing prime location are
cost are also decreased in their marketing activities.
Promotion
Promotion refer to promoting the product through by using various strategies which
includes advertising, sales promotion, digital marketing and others. Here for creating awareness
of ladies clothes, company who used advanced and AI technology in effective manner for
increasing the sale of women's common and fashionable clothes. Technology includes official

websites, online portals, Check in and check out system and others. Due to utilizing these
technology ladies and other customers are able to purchase the product are large quantity. Due to
promotional activity in comparison with gents, ladies are highly attracted towards the various
products.
Advertising refer to the most common type of promotional activity and it also comes
under the category of paid form (Das and Dhar, 2021). Because in this type of strategy ads are
shown repeatedly through various devices which includes TV, radios, hording and others. Sales
promotion is also the another type of marketing strategy but in this process consumers are
encouraged for short period to buy their product. It includes brand promotional products,
distributing samples in free of cost and others. Digital marketing refer to the online marketing
which is conducted by the organization in fast manner. The main advantage for using digital
marketing is that it is a small process which is done in less time. It means cost is very low in this
process.
After the analysis of above information it is concluded that due to the use of marketing
concept and various marketing strategies the desires and wants of the women's are easily
fulfilled. It leads to increase the portfolio of organization. After the effective analysis pricing
strategy is suggested to company for sustaining productivity and performance in long term.
Because in this strategy women's and other categories of customers are easily trapped for buying
their product easily. With help of this strategy organization easily sustained their vision, mission
and objectives in long term. The other advantage for using effective marketing strategy by
organization is that reliable and meaningful information are shared between multiple users
within less time regarding their product. Due to fast sharing of information customers easily take
final decision regarding their product quickly.

Conclusion
From the analysis of above information it is concluded marketing is a very essential
concept for company to build good or positive relations with customers in long term. In market
the sale of women clothes are highly popular in comparison with gents because women's are one
of the customers who buy the clothes from company in every function. With help of marketing
and digital marketing desires and wants of the customers are easily fulfilled in time. In the
process of marketing employees are able to identify the problems of customers in low time.
After identifying the problems of users effectively employees are able to facilitate solutions to
users in quick manner. With help of effective marketing strategies authority easily implement
their various policies regarding their product.

References
Bijakšić, S., Leko, O. and Raguž, A., 2021. Digital marketing-leader or component of integrated
communication. CroDiM: International Journal of Marketing Science, 4(1) pp.163-178.
Bunyamin, B. and Iskandar, S., 2021. The Analysis Of Marketing Mix Strategy Of Wood
Processing In Increasing The Salling Margin. Eduvest-Journal Of Universal
Studies, 1(12) pp.1-428.
Chanprasert, S., 2021. Tourists’ Behavior and Factors Affecting their Decision for Visiting
Ayothaya Floating Market, Phra Nakhon Si Ayutthaya Province. Turkish Journal of
Computer and Mathematics Education (TURCOMAT), 12(8) pp.2966-2974.
Choi, S. and Powers, T. L., 2021. COVID-19: Lessons from South Korean pandemic
communications strategy. International Journal of Healthcare Management, 14(1).
pp.271-279.
Das, P. and Dhar, P., 2021. Finding Out the Influence of Marketing Mix on Attitude of
Customers for Providing Online Reviews. Asia-Pacific Journal of Management and
Technology (AJMT), 2(1). pp.27-37.
Hanaysha, J. R., Al Shaikh, M. E. and Alzoubi, H. M., 2021. Importance of Marketing Mix
Elements in Determining Consumer Purchase Decision in the Retail
Market. International Journal of Service Science, Management, Engineering, and
Technology (IJSSMET), 12(6), pp.56-72.
Konhäusner, P., Shang, B. and Dabija, D. C., 2021. Application of the 4Es in Online
Crowdfunding Platforms: A Comparative Perspective of Germany and China. Journal
of Risk and Financial Management, 14(2), p.49.
Marta, B., Melnyk, I. and Baran, R., 2021. Factors of digitalization of the marketing activity of
tourist enterprises of Ukraine in the conditions of global digitalization. Baltic Journal of
Economic Studies, 7(3), pp.29-36.
Ponzoa, J. M. and Erdmann, A., 2021. E-Commerce Customer Attraction: Digital Marketing
Techniques, Evolution and Dynamics across Firms. Journal of Promotion
Management, 27(5), pp.697-715.
Sibinovski, B., Tripunoska, M. and Tripunoski, M., 2021. Marketing Communications in the
Environment and Awareness of Sustainable Development. Nauchni trudove, (1),
pp.233-243.