Nature and Importance of Marketing Mix in Marketing Process

This report discusses the importance and nature of the marketing mix and its impact on the business of the organisation. It includes a case study of Unilever's marketing mix and the Porter five forces theory. The report provides recommendations for effective marketing strategies.

Nature and importance
of marketing mix

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Marketing mix of Unilever..........................................................................................................3
Porter five forces theory .............................................................................................................5
Recommendations............................................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing refers to the process of stimulation of the demand of product and services of the
organisation with the help of different tools and techniques. Marketing is one of the most
important and valuable aspect of the organisation which helps the organisation to develop
effective strategies in the organisation (Asseraf, Lages and Shoham, 2019). The importance of
marketing is increasing day by day due to the increasing competition in the market. There is cut
throat competition in the market under which many companies are carried their business in same
industry which creates stiff competition in the market. These companies has creates price war in
the market which impacts negative on the business of the organisation. Marketing is one of the
dynamic solution of this problem in the market because it helps to deal with the competition in
the market. Marketing helps the management to develop effective strategies in the organisation
which helps the organisation to attract the customers towards them which helps them to deal with
the competition in the market. This report is based on the concept of importance and nature of
the marketing mix and their impacts on the business of the organisation.
TASK
Marketing mix of Unilever
Marketing mix refers to those framework of the marketing which is used by the company
to advertise their product and services on the basis of some factors. It helps the management of
the organisation to evaluate the information of their product and services and use them to
develop effective marketing strategy in their organisation (Ferrell and Ferrell, 2020). Marketing
mix is one of the successful framework of the marketing which enables the company to operate
their marketing functions effectively in the organisation. There are seven factors are present in
this marketing framework and the brief discussion related to the same are given below:
Product
It refers to those factor of the marketing mix which is related to the actual output provided by the
company to their customers in return of the price or worth. The product of the company is their
backbone because the success and failure of the organisation are depend upon the product of the
company. It is very important for the company that they develop their product according to the
needs and desire of the customers. Unilever is the organisation which has provided diversified

product range in the markets such as skin care, health care and home care products. All the
products developed by the company are based on the parameters of customer expectation.
Prices
Price is related to the actual worth which is charges by the company from their customers in
exchange of their product. The pricing strategy of the company are one of the most critical
function of the management (Frynas and Yamahaki, 2019). They have to analyse different
factors such as cost, inflation, market price, price of related product. It is very important for the
management to analyse all these factors at the time of making the strategy for the price because
the success of the product are depend upon their pricing in the organisation.
Place
It refers to the market and place where the business organisation has operate their business. It is
very important for the company that they analyse the markets according to their products because
it protects the company from wasting their efforts in wrong market. The development of
effective supply chain are also been the part of this factors. The supply chain of the company
should be develop in such a manner which enables the company to provide the product at the
right time at right place. The management of Unilever has used retailers and kiosk to supply
their product in the market.
Promotion
It is one of the most important and valuable factor of the marketing mix which is related to the
promotion of goods and services in the market. Promotion is the basic need of modern day
business because it helps the company to face the competition in the market. There are large
number of promotional tools are present in the market which can be used by the management to
advertise their product such as personal selling, social media and many more. All these
marketing tools helps the company to reflects the merits of their product in front of the
customers.
People
This factor of the marketing mix is related to the employees working in the organisation (Hunt
and Madhavaram, 2020). The workforce is the most valuable resource of the organisation so it is
important for the management to allocate them in effective manner so that maximum outcomes
can be taken out from them. Motivation is one of the greatest tool which can be used by the
company to increase the engagement of the employees. It is necessary for the company to

analyse the needs and desire of their employees and try to fulfil them so that it get motivated
towards the organisation.
Process
It is related to the actual process used by the company in the process of production of product
and services. The process of production are the valuable aspect under which the managers are
required to take effective decision because it impacts costing of the product (Kaartemo, Coviello
and Nummela, 2020). The process of production has overall impacts on the profit margins of the
organisation. There are different types of processes are present in the organisation such as total
quality management and many more. These processes helps the company to develop qualitative
product in the organisation.
Physical evidence
This factor of the marketing mix is related to the actions or the things used by the company to
remind their customers about the services of the organisation. There are many companies are
present in the market which has provided many things along with their product as
complementary which reminds the customers about the company after sometime. There are
many examples are present in market in relation to this such as hand bags, key chains and many.
These tools has played important role to make the marketing framework of the company
successful and enables the management to deal with the competition in the market.
Porter five forces theory
It is related to those framework of the marketing which is developed by the Michael Porter with
an aim to make the marketing of companies more competitive in the market. This theory of the
marketing is based in the concept of achieving competitive advantage over the competitors of the
company with the helps of different types of marketing strategies. There are five forces are
present in the market which helps the company to develop effective organisation. These forces
has impacted the organisation in effective manner so that the brief discussion related to these
forces are given below:
Threat of new entrants
The threat of the new entrant are always been the important threat for the company which is
required to be focused by the company. In the present time most of the governments becomes
possessive towards the establishment of new businesses in the country because it help the
country to achieve development. So it makes easy for the entrepreneurs to established business.

The entry of new player in the market are very negative for the existing companies which has
operated their business because the new entrant came in the market with new and innovative
product. The new and innovative product has potential to attracts customers towards the
company which becomes negative for the customer base of the company. It is very important for
the organisation to develop effective strategies to deal with the competition in the market.
Threat of substitute
Substitute product refers to those product of the organisation which has similar features in
comparison to the original product but offered in less prices in the market (Kim and Kim, 2018).
There are companies are present in the market which has developed these types of products with
an aim to earn huge revenue from negative practise. It is one of the challenging task for the
company to deal with this issue in the market. It is essential for the company to focus on the
innovation and try to increase the switching cost of the product so that the customers becomes
loyal towards the organisation. Innovation helps the company to make new features in the
product and makes them able to satisfy the dynamic needs of the customers. It is very important
for the managers of the organisation that they develops patents of their products so that the
companies misuse their product range can be punishable under law.
Bargaining power of the suppliers
Suppliers refers to those persons of the organisation which has provided the raw material to the
company for the production of the goods and services. The bargaining power of the suppliers
has played important role in the profit margins of the organisation. If the number of suppliers are
more in company then their bargaining power becomes low under which the company are able to
dominate the prices of the raw material which positively increases the profit margins of the
company. If the number of suppliers are few in the company then the bargaining power of the
suppliers becomes high and they are in situation of dominating the price which negatively
impacts the profit margins of the company.
Bargaining power of the Buyers
The bargaining power of the buyers has played important role in the success of the company
product in the market. The bargaining power of the buyers are depend upon the number of
companies present in the same industry (Lim, 2021). If the number of companies are more in the
market then the buyers has high power because they have so many option in the market and
becomes able to take the benefits from the competition. If the number of companies are more in

the market then it becomes positive for the company to charge the price according to them
because customers does not have much option in the market.
Competitive rivalry
This force of the model is related to the rivalry among the existing players of the market. There
are large number of companies are present in the market which has operate their business in the
same industry. All the companies has their dominant marketing framework which has creates
stiff competition in the market. It is very important for the management of the organisation that
they have create effective strategies in their business which helps them to achieve competitive
advantage.
Recommendations
 It is recommended to the management of the organisation that they have used social
media advertising to run their marketing campaign because the reach of people on social
media platforms are very high which provides high range of customers in the market.
 It is recommended to deal with the competition that the development of strategic
management becomes this management helps the company to develop effective strategies
in the market.
 It is recommended to the management of the organisation to analyse various internal and
external factors which helps the organisation to make them effective.
CONCLUSION
It is concluded from this report that marketing mix is one of the important framework of
the market which helps the organisation to make their marketing more successful. Marketing has
played important role in the satisfaction of the consumer needs and desires (Pyun and Edey
Gamassou, 2018). It is very important for the management of the organisation that they have
used social media advertising so that it becomes easy for them to make the concept more clear in
the market.

REFERENCES
Books and Journals
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and renewal competences: The “outside vs. inside” and “static vs. dynamic”
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Kaartemo, V., Coviello, N. and Nummela, N., 2020. A kaleidoscope of business network
dynamics: Rotating process theories to reveal network microfoundations. Industrial
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Kim, M.S. and Kim, J., 2018. Linking marketing mix elements to passion-driven behavior
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Lim, W.M., 2021. A marketing mix typology for integrated care: the 10 Ps. Journal of Strategic
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Wilson, M., Robson, K. and Pitt, L., 2022. Consumer subversion and its relationship to anti‐
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