The Nature and Importance of the Marketing Mix within the Marketing Process

BSc (Hons) 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 p
An explanation of marketing p
An explanation of marketing mix p
A brief theoretical explanation of 4Ps marketing mix
p
Introduction of product/service
p
Application of 4Ps marketing mix to the selected product/service
p-p
Product p
Price p
Place p
Promotion p
Conclusion p
References p
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Introduction
Marketing refers to the set of activity that takes place for promoting goods and services to the
desired customer It also refers to position a product and sell it at a right price, at right place
and at right time. Some of the examples of marketing are Television, magazine and
newspaper commercials, discount offers, etc(Balducci and Marinova 2018). There are four
P's of marketing i.e. Product, Price, Place and Promotion. Marketing are mainly of two types
Online marketing and Offline Marketing. Marketing plays a vital role in branding of any
product and it also enhances the growth of the business by promoting these goods and
services which help in enhancing the sale of the products. Marks and Spencer commonly
known as M&S is one the premium brand of UK. M&S was formed by Michael Marks and
Thomas Spencer in 1884. Its headquarter is located in London, United Kingdom. The
company has over 1500 stores all around the globe, including approx 1000 stores in UK and
rest in other countries. The company deals in over 6000 products such as clothing, food,
household and beauty products to numerous customers. It has several competitors such as
Asda, Aldi, Tesco, Farm foods etc.It has a revenue of approx 1088.5 crores GBP. This file
will include discussion on Marketing, Sources of marketing, Marketing mix, 4 P's etc.
An explanation of marketing
Marketing refers to the process for promoting products to the consumers. In simple words, we
can say it is the process to reach the potential consumers. There are several processes that are
involved in marketing such as planning, research, promotion, sales and distribution of goods
and services. Marketing is one of the key aspect of every business enterprise(Kumar
and .et.al. 2018). Marketing is a broad concept and it consists of all the strategies that are
required to advertise and promote the products. Generally marketing are of two types namely
Online marketing a as well as Offline Marketing. There are several advantages and
disadvantages of online and offline marketing. Online Marketing refers to the process of
promoting goods and services through internet. Some of the advantages are expenses of
creating a set up is reduced, better communication channel is created, competitive advantage,
better consumer services and increase in sale. Some of the disadvantages are it is a time
consuming process, High- tech is required for research, risk of internet fraudulence etc. This
marketing is also known as web marketing, digital marketing or internet marketing. Offline
Marketing refers to the marketing where promotion of goods and services are done through
offline platforms such as radio, television, newspaper and magazine advertisement etc. Some
of the advantages are it fulfill the exact customer needs, build interpersonal relation with
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