Nature and Importance of Marketing Mix in Marketing Process

This report discusses the nature and importance of marketing and marketing mix, with a brief theoretical explanation of the 4Ps marketing mix. It also covers the application of the 4Ps marketing mix to a selected product/service. The subject is BSc (Hons) Business Management, and the course code is BMP4004 - Contemporary Issues in Marketing.

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 3
An explanation of marketing 3
An explanation of marketing mix 4
A brief theoretical explanation of 4Ps marketing mix
4
Introduction of product/service
5
Application of 4Ps marketing mix to the selected
product/service 6-7
Product 6
Price 6
Place 7
Promotion 7
Conclusion 8
References 9
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Introduction
Marketing is defined as a process which is utilized by company for enhancing the sale
and popularity of their product globally. Marketing or digital marketing is also essential for
maintain good communication between employer and employee customer and employee for
long time. Therefore, for increasing the growth and popularity of organization, management
are used some specific strategies. It includes, effective supply chain, good infrastructure,
budget allocation, online advertising, digital marketing and others (Aditi, Hafizah and
Hermansyur, 2021). The chosen company is Mark and Spencer for evaluating the nature and
process of marketing and digital marketing effectively. The company was established in 1884
and its headquarter is situated UK. This report will cover the explanation of marketing and
marketing mix, a brief theoretical explanation of 4P's marketing mix. It also covers the
introduction of product/service, application of 4P's marketing mix. This company is dealing
with wide range of products and it is the largest supermarket in UK. Products includes home
appliances, fashionable cloths, grocery items and others.
An explanation of marketing
As already mentioned above marketing is basically a process which is utilized by
organization in the form of digital platform, updated equipment's, online advertising and
others. Due to the effective use of these strategies firm are able to highlight the features of
their various products effectively between customers. In this way the sale of their products
are easily increased increased at maximum level in various locations. Due to this new and
previous client are easily attracted towards company products at large number in long term.
In marketing process organization easily maintained strong communication or connectivity
between all levels of employees and customers (Amalia, Trihantana and Suryani, 2021).
When company utilized advanced equipment's, software and apps then their product and
services are easily delivered to consumers quickly and in accurate time. Due to the use of
digital platform effectively customer is able to access various types of data easily within few
time from any location. In context to Mark and Spencer, management must use different
types of software, app and updated equipment's for increasing the availability of their new
and existing product in market in both offline and online mode. With help of these strategies
convenience is highly increased for users for availing various products and services of
company within low time.
An explanation of marketing mix
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Marketing is defined as group of activities which is utilized for organization for
increasing the sale and popularity of their brand image and product at international level. Due
to applying this technique organization easily identified those customers who valuable for
their overall development and growth in long term. Then after identified valuable customers
the profit of the company is easily increased at higher rate in short duration (Ananda and
Wisudawati, 2022). In aspect of marketing mix, it is the combination of many stages, but out
of these only four stages are important and beneficial. The name of that four stages are
product, price, place and promotion. The combination of these four elements help
organization to run their various functions in smooth and effective manner. In context to
Mark and Spencer, management always facilitates best quality fashionable, healthy and other
products to their customers according to the current culture and trends. In this way goodwill
and reputation of the company are easily sustained in market for long time.
A brief theoretical explanation of 4Ps marketing mix
Marketing mix is referring to the group of many activities which is applied by
company in the form of four elements. It includes product, price, place and promotion and
with help of these four elements organization are capable to popularity, productivity and
potentiality for long time.
 Product – It refers to facilitating best quality product to customers with unique
features and specifications according to user’s desires and wants. In relation to Mark
and Spencer, management must expand their operational activities and services in
different areas with help of opening new stores. In this way convenience are
effectively increased for customers which leads to increase the sale of product and
profit of company at maximum level.
 Price – It basically refer to the use of different pricing strategies like competitive
pricing, discounting offers and skimming pricing (Cheng and Jiang, 2021). With help
of these methods customers are easily attracted towards company's product at large
number. In this way the visits of the consumers are also sustained in their store and
official website for long time. In context to Mark and Spencer, price is very important
for firm in aspect of selling their services and products to customers at wide range in
every location. But fact is that in comparison with other retail companies their
products are very expensive which leads to decreasing their customers at higher rate.
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 Place – It is defined as preferring and targeting right location by top level
management for run their whole activities in smooth and effective manner. In respect
of Marks and Spencer, management must develop effective supply chain and
infrastructure in both online and offline mode. In this way effective communication
are easily sustained between company and stakeholder or employer and employee for
long time. Due to choosing reliable and right location organization easily send their
quality service and products to consumers within low time (Dörnyei, 2021)
 Promotion - It is concerned with the use of different promotional strategies for
enhancing the reach and popularity of their services and products in market at
international level. In respect of Mark and Spencer, they must use various marketing
strategies such as discount offers, online advertising, digital marketing, personal
selling etc. Due to the use of this strategies wants and desires of the consumers are
effectively increased within short duration. In this way customer buying power are
easily increased at maximum level.
Introduction of product/service
The product which is highly popular and consumable between customers according to
current trend and culture is women's fashionable cloths. Women's fashionable cloths includes
jackets, saris, skirts, gloves and so on. From the above information it is understood that in
present time products or cloths of women are highly avail and consumed by customers during
the time attaining any type party and function. It leads to sustain the profit margin of
organization at higher rate for long time (Harris, Yokum and Fleming-Milici, 202)1. It means
women is one of the highly valuable and targeted customer for Mark and Spencer which
leads to maintain their goodwill and brand image in market effectively. In relation to Mark
and Spencer, they must manufacture fashionable cloths according to the current culture and
trends of various customers and countries. With help of effective analysis organization are
able to identify the real wants and desires of consumers quickly.
In respect of service organization are used artificial intelligence and digital platform
for facilitating quality product and service to users in fast manner. With help of AI and other
technologies the basic needs of the consumers are easily fulfilled in time. It is also essential
for enhancing the convenience of customers at large scale. The main benefit at the time of
increasing the convenience of customers is that effective relationship is highly developed
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between consumer and producer in long term. With help of effective relationship users
positive word of mouth are easily spread in market effectively.
Application of 4Ps marketing mix to the selected
product/service
Marketing mix is defined as combination of many action which is used by company
for enhancing the popularity and sale of their product at maximum level. In case of women's
customer sale of their product are easily increased within short duration. According to this
method the product of the organization is sold on the basis of for elements which are
explained below -
Product
It refers to facilitating best quality product to customers with unique features and
specifications according to user’s desires and wants (Kongying and Purisai, 2021). In context
to Mark and Spencer, women's cloths of different design and fashionable are highly
consumable in market. It leads to increase the portfolio of organization at maximum level.
Due to providing these type of quality product and services to customers, product popularity
and goodwill of organization are effectively developed for long time. Therefore, when
customers received durable and reliable product according to their desires and wants, then
definitely they keep their loyalty towards company for long time.
Price
In context to Mark and Spencer, they always maintained high and premium price in
their product (Milenkova and Lendzhova, 202). Due to maintaining this type of price chances
are easily enhanced for reducing customer and sale for their product which leads to
decreasing their brand value in their services effectively. Therefore, it is mandatory for
organization that management must facilitate quality and fashionable cloths to women
customers with beneficial schemes and premium range. In this way the market shares and
profit of company is highly increased within low time. It beneficial and discounting offers are
highly attracting the users in large number.
Place
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It is defined as preferring and targeting right location by top level management for run
their whole activities in smooth and effective manner. In context to Mark and Spencer,
management must use beneficial location for run their various operational activities and
services smoothly. Due to choosing right location the work efficiency and productivity of the
organization are effectively increased at maximum level (Msallati, 2021). The other
advantage is that at the time of establishing company infrastructure in right location. Various
requirement of the firm is easily fulfilled in time which is essential for run their operation
activities in smooth manner. Those requirements are electricity, water, raw materials etc.
Promotion
It is concerned with various promotional activities which is used by organization for
enhancing the awareness of their product between customers and in market effectively.
Strategies includes digital marketing, online advertising, personal selling sales promotion etc.
Due to the use of these strategies popularity of women clothes and other products are
effectively increased through both offline and online mode at higher rate (Saura, Palacios-
Marqués and Ribeiro-Soriano, 2021). In context to Mark and Spencer, management must use
advanced technology such as online portals, official web sites, check in and check out
system. Due to this the visits of the customers are highly increased in their store for long
duration.
In aspect of digital marketing it is a very effective strategy or technique which is
applied by organization for running their overall activity smoothly. Digital marketing is
defined as an online marketing and in this strategy information’s are shared with customers
regarding company’s products and services quickly. The main purpose of using online
advertising by firm is to promote and popularizing their product at wide range. With help of
advertising strategy organization are able repeat the features of their product effectively in
various devices such as television, radio and others. In this way the desires and wants of the
customers are highly increased within low time for buying their product.
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Conclusion
From the analysis of above information, it is concluded that digital marketing or
marketing plays the crucial role for running the functions of organization effectively. In
today’s digitalization are increasing day by day and due to this mostly customers are believed
to buy the product through online mode. Because with help of digital platform and online
services consumers easily received their desired product within low time. In this way strong
positive relationship is easily sustained between employee and customer for long time.
Therefore, digital marketing is highly important to company for expanding their services and
activities in various locations effectively.
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References
Aditi, B., Hafizah, H. and Hermansyur, H., 2021. The Role of E-Services, Quality System
and Perceived Value on Customer Satisfaction: An Empirical Study on Indonesian
SMEs. Journal of Industrial Engineering & Management Research, 2(3), pp.193-205.
Amalia, T., Trihantana, R. and Suryani, E., 2021. PENGENALAN MANAJEMEN BISNIS
SYARIAH MELALUI PELATIHAN DIGITAL MARKETING USAHA MIKRO
KECIL DAN MENENGAH DI DESA GUNUNG BUNDER II, KECAMATAN
PAMIJAHAN, KABUPATEN BOGOR. SAHID EMPOWERMENT
JOURNAL, 1(01), pp.26-36.
Ananda, I. G. N. Y. A. and Wisudawati, N. N. S., 2022. THE INFLUENCE OF SOCIAL
MEDIA MARKETING, CONTENT MARKETING AND BRAND IMAGE ON
INSTAGRAM TOWARD BUYING INTEREST (A Case Study on Consumer at
Dahlia Beauty Salon). JIM UPB (Jurnal Ilmiah Manajemen Universitas Putera
Batam), 10(1), pp.38-50.
Cheng, Y. and Jiang, H., 2021. Customer–brand relationship in the era of artificial
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Dörnyei, K. R., 2021. Marketing professionals’ views on online advertising fraud. Journal of
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Harris, J. L., Yokum, S. and Fleming-Milici, F., 2021. Hooked on junk: Emerging evidence
on how food marketing affects adolescents’ diets and long-term health. Current
addiction reports, 8(1), pp.19-27.
Kongying, S. and Purisai, S., 2021. The Pandemic Era Digital Economy: Youth Challenges in
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Milenkova, V. and Lendzhova, V., 2021. Digital citizenship and digital literacy in the
conditions of social crisis. Computers, 10(4), p.40.
Msallati, A., 2021. Investigating the nexus between the types of advertising messages and
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Innovations in Digital Marketing, 2(1), pp.1-14.
Saura, J. R., Palacios-Marqués, D. and Ribeiro-Soriano, D., 2021. Using data mining
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