Contemporary Issues in Marketing: The Importance of Marketing Mix in the Marketing Process

This report discusses the importance of marketing mix in the marketing process, with a focus on Sainsbury's as a case study. It explains the seven factors of marketing mix and their impact on customer engagement. The report also introduces a new vegan product range and applies the 4Ps marketing mix to it. The report concludes with the significance of analysing marketing mix for effective marketing operations.

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
The purpose of marketing is to promote the sale of goods and services in order to
enhance brand awareness and build client base. In order to grow its customer base and build a
strong brand image, a company uses a variety of approaches and methods. The notion of
marketing mix is well-known, and judgments about it have a significant impact on the total
marketing process. The principles of marketing and marketing mix are covered both in
general and in relation to a business in this particular report. Sainsbury's, a renowned
supermarket brand in the United Kingdom, was chosen as the subject of this investigation.
An explanation of marketing
Marketing is the process by which a company tries to raise client awareness of a
product or service in order to increase revenue. It is the activity in which a company tries to
increase its customer base by using various promotion strategies such as advertising, personal
selling techniques, campaigns, commercials, and so on. Marketing is an important function in
the life of a company since without good marketing strategies, customers are uninformed of
the company's ideals and services.
An explanation of marketing mix
It refers to the seven factors that determine whether or not a customer is engaged with
a company. The choosing of these various components, referred to as P's in the marketing
mix, is critical since all of these elements have a direct or indirect impact on how much a
consumer is drawn to a company's services. The following are the seven P's of marketing:
Product: It refers to the goods and services that an organisation provides to
individuals in order to meet their wants and requirements. The product choices are extremely
important since they have a direct impact on client engagement by influencing their
inclination and preferences. The product or service that a firm provides is extremely crucial
in the marketing process. The costing structure and financial requirements of an organisation
are determined by the items it offers.
Price: It is another important factor that is linked to customer engagement since a
sensible buyer always wants to buy an item that gives the most utility for the least amount of
money. Pricing variables are important in the marketing process since businesses try to entice
customers by offering discounts, which influences their pricing methods.
Place: Another key component of the marketing mix is location, which refers to the
site where a product or service is shown or offered for customers to use. The location of a
corporation is important because it determines the extent to which goods and services are
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accessible to customers. Consumers are more inclined to buy from stores that are close to
them or in a central place where the audience is strongly engaged.
Promotion: It refers to the approaches and methods used by a company to expand its
customer base or increase customer engagement. In order to advertise its goods and services
in the market, an organisation uses a variety of strategies. This component of the marketing
mix is critical because without good promotion, consumers are uninformed of a company's
existence, which has a negative impact on its client base.
People: It refers to the people who are involved in the operation or existence of a
business, including all important stakeholders such as customers, suppliers, investors, and
staff.
Physical evidence: It refers to the evidence of a business's existence, which includes
everything a customer sees while dealing with a company.
Process: It refers to all of the steps taken by a customer in order to obtain or use a
product or service.
A brief theoretical explanation of 4Ps marketing mix
Product: Sainsbury's product range is extensive, and it offers a wide choice of
products to customers. It also continues to innovate and introduce new variations and
innovations to its product line. Around 30,000 product lines are available, including ready-to-
eat meal packages, confectionary, and a variety of culinary options. It also has its TU line,
which is a clothes brand, as well as its Home Collection line, which includes kitchen
equipment and other items. Aside from that, the corporation owns a bank that provides
substantial financial services to its large customer base.
Price: The company's pricing strategy is based on the criteria that it changes the
consumers based on the value and usefulness that it provides. As a result, it determines its
pricing strategies based on high-quality criteria and offering consumers with innovative
products and services in order to maximise engagement and retention. Pricing decisions are
critical for the organisation because they have a direct impact on sales. For the goal of price
fixing, Sainsbury's has established a competitive strategy. The corporation effectively
employs a pricing discrimination policy based on the product's placement. The company
employs strategies such as offering some basic and children's products at affordable prices
while keeping high quality standards, thereby attracting a wide spectrum of clients. This is
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the organization's primary strategy, and it has reaped significant rewards in the form of a total
annual income of more than $25 billion.
Place: Sainsbury's operates in a number of nations across the world, including
Scotland, Ireland, Belfast, and the northeastern United States. The company operates in over
500 supermarkets, ensuring that its products are broadly available and accessible to a diverse
spectrum of clients. It owns 700 convenience stores, all of which are open 24 hours a day,
except for a couple that close at midnight on Fridays. The organisation currently has ten
regional distribution centres and two national distribution facilities.
Promotion: In order to advertise its goods and services all over the world, the
organisation has used a variety of promotional approaches and methods. In order to attract
consumers to its products and increase brand awareness, the corporation employs both above
and below the line advertising strategies. Advertising and sponsorship are being used to
promote the company's brand. It promotes its brand through a variety of media platforms,
including social media, television, and radio, and makes good use of sales promotion
techniques such as packaging strategies and database marketing. The company presently
advertises its brand with the phrase "live well for less," which encapsulates the company's
beliefs and goals.
Introduction of new product range
To address the growing demands of those who live a green lifestyle and consume
vegan food, the company has launched a number of vegan products and categories. The
company has added a variety of new things to its product line in response to the growing
demand of the UK population to live a plant-based lifestyle. The company wants to grow its
product line as well as client interaction by offering meat substitutes that are delicious,
nutritious, fresh, and healthful.
Application of 4Ps marketing mix to the selected
product/service
Product
Sainsbury's vegan food collection has grown, and the retailer now offers a wide range
of vegan options to customers. Banana blossam, pecking no duck jackfruit, fish less fingers,
no lamb shawarma jackfruit, sweet and smoky BBQ, and other goods are among the
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approximately 30 new supermarket, fresh, and frozen products included in the enlarged
range. Vegan steaks, shroomdogs, cheddar, style kievs, and hot and spicy goujons are among
the new vegan products introduced to the company's existing portfolio of vegan cuisine.
Sainsbury's has improved its marketing activities by expanding its product line, and it aims to
grow its client base by meeting their needs and improving satisfaction. The company wants to
increase customer involvement and strengthen its brand by introducing a variety of new
delectable vegan items. PETA praises the store for its vegan products, and it was named best
vegan supermarket by vegan food UK. The company has broadened its product offering in
order to keep existing clients and attract new ones to its service.
Price
The company's pricing methods for its vegan product line are based on the quality and
usefulness criteria that the company provides to its clients. The organisation has set rates
based on taste and amount of products available, and quality is always an important factor for
the company to consider when setting costs. The organization's vegan products and packages
are less priced and less expensive than its meat-based offerings. The jackfruit shroomballs are
priced at 2.50 euros, implying that a lot of the company's previously released kinds are
available at this price. It has also included a variety of products in the price ranges of 3, 3.50,
2.25, 3.80, and 1.50, among others. All vegan pizza variations are offered for $3.80, implying
that the company is providing reasonable costs to its customers in order to meet the demands
and requirements of middle-income groups. The company is attempting to increase its
consumer base by offering high-quality, fresh products at inexpensive and fair costs.
Place
All of the organization's recently announced vegan product variations are available at
its normal offline outlets, which are accessible and available to its devoted clients. The
company's plant pioneer product line is now available in stores and on Sainsbury's online
marketplace. The organization wants to increase consumer engagement by making its product
selection more accessible to all types of customers. Vegan items are also available in remote
places thanks to the company's web offerings. The company is expanding its reach and
boosting clients' ease and access to products by making its freshly introduced offers available
on an online marketplace. Because location is a key component of the marketing mix,
Sainsbury's ensures it meets the criteria for an effective marketing mix by making it widely
available and within consumers' reach.
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Promotion
Sainsbury's utilises a variety of marketing strategies, including sales promotion and
media, to introduce its new vegan items to the market. For this company, eye-catching tag
lines and mediums of advertising such as television, radio, newspaper, and other appealing
and mouth-watering imagery are used to promote. Sainsbury's delivers various deals, such as
gift certificates, discount offers, buy one get one free, price cuts, and so on, to help introduce
new vegan items in the market, which helps grow sales and market share. It informs their
customers about the numerous applications and benefits of vegan products, as well as why
they should use them, in order to persuade them to purchase. It is a costly yet necessary
component of the marketing mix since it motivates people to buy things and attracts their
attention. It offers these products with appealing labelling and packaging, which they can
give as gifts to their loved ones.
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Conclusion
The concept of marketing mix is extremely significant in the function of marketing,
according to the above data. The marketing mix factors are linked to customer engagement
and determine how much a customer is likely to consume from a company. Customers are
influenced directly by decisions made about items, prices, promotional strategies, and
location. Sainsbury's efficiently promotes and conducts its marketing functions, focusing on
all aspects of the marketing mix to improve overall growth and performance. The importance
of analysing marketing mix is significant within the marketing process, as it is necessary to
review each part of marketing mix in order to conduct effective marketing operations.
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