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 and their application to selected products. It also provides an introduction to the product and services within marketing mix. The report uses Tesco as an example to illustrate the concepts.

Nature and
importance of
marketing mix

Table of Contents
INTRODUCTION .............................................................................................................................3
Explanation of the marketing........................................................................................................3
Explanation and importance of marketing mix ...........................................................................3
A brief theoretical explanation of the 4ps marketing mix.............................................................4
Introduction to the product and services within marketing mix ...................................................5
Application for the 4ps marketing mix to selected products.........................................................5
...........................................................................................................................................................8
CONCLUSION .................................................................................................................................8
REFERENCES...................................................................................................................................9

INTRODUCTION
Marketing is a process of getting right services r product to right person, at right price,
place and time, using accurate promotional tools and using appropriate people for providing the
buyer services associated with the goods and services. Many successful business have adopted the
marketing concept which is based on right principles (Almeida and et. al., 2022). In marketing,
marketing mix is an essential toll which combine different factors in order to become more
solidify and harden a product brand. Company chosen in this report is Tesco, which deal in
retailing and located within UK. This report will be based on the significance and nature of the
marketing mix, introduction of product and services offered by ch sen organization and
application related to 4ps for the selected product.
Explanation of the marketing
Concept of the marketing refer to an ideas that a business is obligated to its customers and
their other marketing strategies should be development in such a manner that tit meet company's
customer's requirements (Anning-Dorson and et. al., 2022). It is also considered as promotional
tool in which a business promote their product and services to their target audience. In this actions
are taken to in order to bring an attention to a company's offering, the goods can be in psychical
for sale. Marketing is a discipline that involve all action an organization undertake in order to
draw in customer and maintain a relationship with them. It seek to match the organizational
product and services to those customers who want an access to such products. Marketing increase
the living standard by providing good and services to the customers that satisfy their needs.
Modern marketing cover almost all the functions of organization such as financial, warehousing,
selling, buying, research and development, risk bearing and many more. All these functions of
marketing make enable a company to promote their product in market and attract customers to
make a purchase. Marketing is sued by business to make their customer aware about major
changes such as transfer in ownership, merger that impact product offering and seek to improve
the quality.

Explanation and importance of marketing mix
It can be described as set of the action and tools which a firm uses for pushing their
product in market (Diehl and Terlutter, 2022).This is referred to marketing mix as it consist
mainly four contrary component that have to be applied by the organisation in order to accomplish
a optimistic result. Use of the marketing mix as considered as a superior way that help to ensure
that putting correct product in right place. Marketing mix is very decisive tool as it help tin
understand that what type of product and service they should offer how to plan a successful
product offering. All component of marketing mix influence each other. In organisation, these
factors helps them to make effective business plan and handled right, can give it target success.
But, often handled wrong and business could take may year to recover. So marketing mix need
more market research, understanding and consultation with many people, from the user to trade
and several others.
Brief theoretical explanation of the 4ps marketing mix
In organisation marketing mix is considered as set of the controllable and tactical
marketing tool which are exploited by a company to produce a desired response for their
customers. This model is a business foundation model and it is focused on product, place, price,
promotion (Jiang, 2022). Marketing mix is a unit of the marketing techniques which is used by
firm to accomplish their marketing objectives in target market. It consist every practices that a
business do to influence customer's demand for their product. Hence, this till assist in marketing
planning and implementation. Four 4Ps of the marketing mix are most crucial elements in
marketing. It is a conceptual framework which permit company's manager to determine customer's
requirement and demands. To create a marketing campaigns effectively, the marketing mix is
helpful as it frame up the effective campaigns. In the absence of all these factors, marketing mix is
incomplete. This controllable tool is used by organisation so that they can influence the customer's
demand and choice. Marketing mix help a company to make their product successful and
eliminate the unnecessary costs (Kautish and et. al., 2022). All these factors are very crucial for
organisation to make an effective business or marketing plan. Organisation analyse all these
factors and then target their customers as per their requirements. With an effective marketing mix,
company become able to create combination of elements in order to manage their business budget

that help them to attain their goals. A company that strive to operate effectively and attain their
goals have to pay a well to control all factors related with marketing mix.
Introduction to the product and services within marketing mix
In any business, product and services are considered as essential elements because in the
absence of these factors, no any business can grow and survive in market. Product in organization
is considered as a tangible items that put in market to gain customer attention,consumption and
acquisition(Mer and Virdi, 2022). While services, is refers to an intangible items which arise
from an output of the different individuals. The growing need for business to address the service
design and pro design in an interesting manner. Tesco is a retail firm and it has around 7000 stores
across the world, they employer more than 500000 people and also serve millions of customer
every week. It sells large variety of the product including, financial services, clothing, cosmetics,
electronics, stationary and many more. Tesco mainly deals in grocery retail, but it has also
diversified into assurance industry and retail banking. Its stores stock more than 40000 different
products. Its procurement teams work with around ten thousand of several raw material which are
transported internationally every day.
Application for the 4ps marketing mix to selected products
In marketing, 4Ps of marketing mix were developed many year ago by the experts that
insure creation and execution of the successful marketing strategy or plan (Narayanaswamy and
Heiens, 2022). Through use of this tactic, attempt is to satisfy both seller and customers.
Marketing mix is In relation to the Tesco its marketing mix is described below:
 Product- In a marketing strategy, products are not considered as tangible product, but
source of the value to be delivered in several ways including priming and pre purchase
education provided by installation, word of mouth reference, sales staff, physical product,
convenience of the availability, financing plans to the product's purchase, point of sales
equity, quality assuring brand name and so on. These various way to understand the
product concept provide an opportunity to companies, to differentiate their overall value

proposition form that of competitors. In this, Tesco provide huge variety of the choice
ranging from the brand, type, regional product and international cooking within food
which do not leave customer lacking. Tesco value. F&F, everyday value and Tesco lotus
are some of the Tesco's brand. Its is worth recognition that availability of range product
categories depends on types stores customer visit.
 Price- It refers to a value that is put for given product based on production cots, target,
segment, supply, demand, ability of customer to pay and host of the other direct or indirect
element (vermová, 2022). There are several type of the pricing strategy, all tied in with the
overall business plan. In company, business can also be utilised as demarcation, enhance
and differentiate of product image. Pricing is higly complex activity. Tesco's pricing
strategy is defined as cost leadership. Main aim of the respective company's management
is to pass the cost benefits to its customers as main brand value. Additionally, it also uses
a club card system that allow its customers to collect some points when they make any
purchase that can be converted in to money at later stage. Tesco serve a best price
promotional strategy by proving good and loyal customer with an additional discount.
Thus, this pricing master plan assist the company to reduce their price further, and increase
sales without impacting their profit much.
 Place- It is set of the process through which a company deliver their products to customers
(Tandoh, Mensah. and Anani-Bossman, 2022). The distribution and marketing channels
fulfils different purpose such as easy availability of product to the end consumers,
logistics, enabling product customization option at sale's point, reducing purchase lot size
that enable opportunity for customer to buy the product. Tesco's headquarters is situated in
Chestnut, Hertfordshire, England. This company's stores are widely located across the
world in which it employee two channels of the distribution for its services and product
within offline and online services. However approval for the online sales transmission in a
contrast to the offline sales channels has been increasing since last some years. Its all
customer are not so comfortable with its big store such as Tesco extra not it is possible to
set up many of them. Hence, it make utilize of the little store in order to an easier
availability.
 Promotion- It refers to all practices undertaken by organisation to make their product and
service known to trade and user. It can include world of mouth, incentives, commissions,

advertising, press trade and awards to the trade (Xu, Yiu, and Cheung, 2022). Promotion
can also involve the direct marketing, prices, contest and consumer schemes. Tesco is a
gold standard in the term of branding and advertising. Its biggest benefits is their low
prices that make it different from the other supermarket chain. This company has made use
of sponsors charitable events, TV advertisement and other etc. From all these thing
company just focusing on one thing that is their low price. It aloes provide and attractive
offer to leads, hence it become easy for customers to find the offer like half price, “ buy
one get one free and son and it feel like customer has saved so much money. Nevertheless,
online purchase are very inexpensive rather than offline ones. But it become challenging
to tempt the customer into purchasing more stuff if they are not able to see their choice.

CONCLUSION
From this report it is find out that in marketing mix, some action or decisions are taken
with the purpose to accomplish organisational goals and fulfil customer's requirement. In this
changing business environment, methods of business operation are also changing constantly.
Therefore, it become significant for companies to offer such services that are able to meet
customer's needs as it help the company to get success and also remaining profitable. In
marketing mix, product cover the decision related to sale of a property development. Pricing
element is another essential factors that impact the customer buying decision. Company's
distribution strategy should be very convenient for customers. At last, promotion is an effective
tool that help a company to make their product known. Therefore by all these analysis it is
identified that marketing mix has an importance place in marketing as it make enable a business to
sell their precut efficiently.

REFERENCES
Books and Journals
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Mer, A. and Virdi, A.S., 2022. Artificial Intelligence Disruption on the Brink of Revolutionizing
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Švermová, P., 2022. Socially Responsible Online Marketing. In Achieving Business
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Tandoh, I., Mensah, N.O. and Anani-Bossman, A., 2022. Perception of Marketing Communication
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Xu, Y., Yiu, C.Y. and Cheung, K.S., 2022. Retail tenant mix effect on shopping mall’s
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