Marketing Mix - Literature Review

This report includes basic marketing concept and strategies, which focuses on marketing program planning, marketing research and use of marketing information system, both external and internal factors of marketing environment that affect any business organisation and its operation, and gaining competitive advantages over competitors through building a healthy relationship with customers by customer satisfaction.

Running Head: Marketing Mix
Marketing Mix
Literature Review
System04104
8/26/2018

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1. Introduction
Marketing plan and strategies are the core functions of every business organisation.
This report includes basic marketing concept and strategies, which focuses on marketing
program planning, marketing research and use of marketing information system, both
external and internal factors of marketing environment that affect any business organisation
and its operation, and gaining competitive advantages over competitors through building a
healthy relationship with customers by customer satisfaction.
2. Marketing Program Planning
A successful business organisation always focuses on the marketing plan that includes
strategy associated with the company's product or services. The marketing program plan
comprises action for each part of the marketing strategy. Marketing planning process needed
full knowledge of marketing analysis, marketing objective, opportunities, capabilities, and
suitable segmentation process. It is the requirement of every large and small business
organisation is to identifying the core of the business and also analysing the competence of
the competitors. Thus, it is essential for an organisation to divide the market into
segmentation and strategies their market planning according to the need and requirement of
the customer. Marketing program planning gives a range of benefits to the business
organisation, such as primary benefits are that the planning process puts the customer first;
maximize the resource utilization and achieving competitive advantage over competitors. It
also helps to be a more market-centric company and builds a strong relationship within and
outside of the organisation (Simkin, 1996).
3. Marketing Research and Information
Information is an essential tool for running a business smoothly and effectively in the
market. Information saves the organisation from future market calamities, such as recession
and inflation. Thus, it is crucial for a business organisation to handle and manage the
marketing information, which needs a marketing information system. In recent days,
computers become common business tool firms are able to collect, store, manipulate, and
analyse data through marketing research. These data are collected by the various marketing
research and then the marketing information system analyses, store, disseminate, and retrieve

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information from these data that helps in marketing decision-making. Marketing research
serves as a tool for marketing information system that provides information and useful data
that can be further used by the business organisation to improve their marketing capabilities
and gaining the competitive advantage over the competitors by being ready in advance for
future market challenges (Gray, Ottesen, & Matear, 2005).
4. Analysis of Marketing Environment
Marketing environment consists of some internal and external factors and forces of
the business organisation that affect the business operation of an organisation. It affects the
ability of an organisation to establish a relationship and serve its customers. The internal
environments related to the organisation and somewhat they are in the control of the
organisation such as human resource, machinery, materials, money etc. while the external
environmental factors are totally beyond the control of the organisation and organisation can
take only precautionary action against the external factors. External environment includes a
change in technology, change in government policy and rule, economic crisis, or change in
the economic policy of a country, and change in the social-cultural environment of the
domestic country in which it operates its business. A well understanding and analysis of
marketing environment allow the marketer to gain a competitive advantage over its
competitor and face the future major environmental challenges (Tibbert, 1987).
5. Dynamic Marketing Capabilities
The modern business environment is changing rapidly because of speedy
technological advancement and innovation. Uncertain and unpredictable market environment
requires the organisation to renew and adopt new change regularly. The active marketing
competencies focus is an extension of the resource-based theory. The latest proposal of
creating dynamic capabilities to fight with such changes is more popular in recent days. This
business function is uniquely positioned to know the needs of customers, knowledge about
competitors, different distribution channels. Consequently, the market knowledge it generates
helps in adopting the new circumstances and facing future market challenges. The rapid
change in the customer taste and preferences also is a major cause that forces the business
organisation towards the rapid adoption of new technology and resources that helps in mass
production and quality product. To survive in the highly competitive market where the

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environmental factors are changing unpredictably, it is necessary for every organisation to
renew their technology and resources on regular basis (Kachouie, Mavondo, & Sands, 2018).
6. Enhancing Competitive Advantages
Every business organisation, no matter it is large or small, needs a competitive edge
over its competitor to differentiate itself from its competitors. In the modern business world,
where competition is highly aggressive especially in today’s economy, even a small
advantage counts to establish the business organisation in the industry and establish itself on
the top of the industry. To enhance the competitive advantage over the competitors a business
organisation should focus on proper marketing planning, strategic planning, and extensive
research with an investment in marketing. A business organisation should focus on creating
value for its customer through analysing their needs. The quality of business operation and its
services to the customer very much decide the competitive advantage over its competitors. A
business organisation easily enhances its competitive by simply reducing the cost of its
product; differentiate its product from others, and by merger and acquisition. If the business
organisation wants to compete with other players in the market, they must enhance the
competitive advantage (Turner, 1991).
7. Marketing Implementation Strategy
A proper marketing strategy implementation requires well purposeful calculated
marketing plan, which is allied with the pure business growth strategies. To implement the
marketing strategies it is essential for an organisation to research about the market and knows
what are the needs and demand of potential customer including the existing customer. A
proper market research and analysis of competitor's counter-strategy helps in implementing
the marketing strategy. Without a proper marketing strategy, no business organisation can
survive in this competitive business era. Therefore, it is essential to implement the marketing
strategy after well analysis and research of the market because it also provides a competitive
advantage over the competitors (Chandler, 1990).
8. Customer Relationship & Superior Service as Competitive tools
Building a good relationship with the customer is like an investment. It takes time to
nurture and build a relationship with customers. A good relationship with customers always

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helps you to compete with your competitor because the customer is well aware about your
stuff and product what you offer, what services you provide, and which type of product
qualities you offer to them. Thus, once the organisation builds a good relationship with its
customer, it is more costly for the competitor to acquire other’s customer. Building loyalty is
another major factor in creating a healthy relationship with customers for a long time.
Customer satisfaction is the key to building a good relationship with customers. Customer
satisfaction can provide a direct link with gaining competitive advantages, which can directly
lead to growth and an increase in the profitability and growth of the business organisation.
Therefore, it is necessary to provide quality services and product to the customer because it
leads to a good relationship with the customer and helps in gaining a competitive advantage
over other competitors (Buttle, 2009).
9. Conclusion
In the end, it can be concluded that any business organisation only succeeds if they
have quality marketing plan and strategies to implement it. Without marketing research and
knowledge of the market, it is impossible to exist in the market with a large number of
competitors. Therefore, it is necessary for every business organisation to face the market
challenges and gain competitive advantages by building a healthy relationship with customers
by offering them quality product and services.

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References
Buttle, F. (2009). Customer relationship management. (2nded.) Amsterdam: Elsevier, 4-11.
Chandler, Jr. A.D. (1990). Strategy and Structure. Garden City, New York: Anchor Books.
Gray,B.J., Ottesen, G.G., & Matear, S. (2005). Disseminating academic research information
to marketing practitioners: The receiver's perspective. Marketing Intelligence &
Planning, 23(2), 124-135,
Kachouie, R., Mavondo, F., & Sands, S. (2018). Dynamic marketing capabilities view on
creating market change. European Journal of Marketing, 52(5/6), 1007-1036.
Simkin, L. (1996). Addressing organizational prerequisites in marketing planning
programmes. Marketing Intelligence & Planning, 14(5), 39-46.
Tibbert, B. A. (1987). Improving Marketing Intelligence at Du Pont UK. Marketing
Intelligence & Planning, 5(4), 23-30.
Turner, P. (1991). Using Information to Enhance Competitive Advantage – The Marketing
Options. European Journal of Marketing, 25(6), 55-64,