The Nature and Importance of the Marketing Mix within the Marketing Process

This report discusses the nature and importance of the marketing mix in enhancing the growth of a company. It provides an explanation of marketing and marketing mix, along with a brief theoretical explanation of 4Ps marketing mix. The report also covers the application of 4Ps marketing mix to a selected product/service, which is women's fashionable clothes in the case of Mark and Spencer. The report concludes that digital marketing plays a crucial role in building strong positive relationships between employees and customers. Subject: Business Management, Course Code: BMP4004

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
1

Contents
Introduction 3
An explanation of marketing 3
An explanation of marketing mix 3
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 6
Promotion 6
Conclusion 8
References 9
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Introduction
Marketing is refer to a procedure which is utilized by company for enhancing the
popularity and sale of their goods at maximum level. It means for enhancing the growth of
company management utilized various effective methods which includes effective
infrastructure, proper distribution channel, online advertising allocation of budget, digital
marketing etc. With help of utilizing these type of strategies organization easily gained the
vision, mission and objectives for long duration (ADEGBOLA, 2021). The chosen company
is Mark and Spencer, for evaluating the procedure and nature of marketing mix. The
organization was established in 1884 and its headquarter is located in United Kingdom and
are dealing with wide variety of products such as home appliances, grocery items and others.
This report will cover explanation of marketing mix and marketing, a brief theoretical
explanation of 4P's marketing mix. It also covers introduction of product or service,
application of 4P's marketing mix to the selected service and product.
An explanation of marketing
In aspect of effective marketing strategies such as use of advanced equipment's and
digital platforms are used by company for enhancing the awareness of their previous and new
goods. By using various marketing methods the reach of their product and services are
effectively increased for all categories of customers (Dewi, N. W. S., Sutama and Murni,
2021). In this procedure organization easily maintained strong connectivity or
communication with their lower level employees and all customer segments for long
duration. When organization used updated equipment's equipment's and digital platform
effectively, then their services and products are easily delivered to customers in fast manner.
The other advantage for using digital platform is that various types of information regarding
company products and services are easily accessible for consumers within low time. In
respect of Mark and Spencer, they must utilize latest technology, software, official portals
and other sources for increasing their goods availability through online mode at wide range.
Due to this convenience of customers are effectively enhanced for buying the product with in
low time.
An explanation of marketing mix
Marketing is basically referring to the set of various activities which is used by
company for enhancing the popularity and sale of previous and new product at maximum
level. Due to the use of this method organization is able to identify those consumers who are
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essential for the company growth and development for long duration. Due to keeping good
relations with various customer’s revenue of the firm are easily enhanced at large scale within
low time. In the process of marketing mix basically four steps are involved which includes
product, price, place and promotion. The combination of 4P's elements assist the organization
to run their overall activities smoothly. Mark and Spencer is one of the company who are
providing best quality fashionable cloths to the customers according to current trend and
culture.
A brief theoretical explanation of 4Ps marketing mix
Marketing mix is refer to mixture of various actions which is utilized by company in
the form of four components which includes product, price, place and promotion (Gholami
and Hakak, 2021). Due to the use of these components company are able to enhance their
potentiality, ability and work efficiency in long term.
 Product – Here company are focusing on facilitating best quality product to all
customer segments according to their wants and desires. In respect of Mark and
Spencer, they must enhance their services and functions in various locations in the
form of opening new shops. Because due to running their activities in other locations
the awareness of the company product and services are effectively spread between
new customers. It leads to increase the sales of their product at higher rate.
 Price – It is considered with different types of pricing strategies such as skimming
pricing, competitive pricing and discounting offers. Due to the effective use of these
strategies consumers are easily attracted in higher rate. Due to the visits of customers
is effectively increased in their official portals and also in their stores in long term. In
respect of Mark and Spencer, price is highly essential concept at the time of selling
and supplying their product at wide range in various locations. But the real fact is that
in comparison with other brands their products are highly expensive in market.
 Promotion – It refer to using of various promotional activities for popularizing and
promoting their product between customer and market effectively (Kim, Duffy and
Thorson, 2021). In context to Mark and Spencer, management required to use
different methods through digital platforms which are highly effective for attracting
and also for enhancing the desires and wants of the customers at higher rate. It
includes online advertising, discount offers, personal selling, digital marketing,
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personal selling and others. With help of applying these strategies buying power of
the customers are effectively increased.
 Place – It means choosing reliable and accurate location by higher authorities for
running their various functions effectively and smoothly. In context to Marks and
Spencer, they must build advanced infrastructure and effective distribution channel
physically and through online mode Due to this effective communication between all
categories of workers are effectively sustained for long duration Due to choosing right
location company are able deliver their best quality product to customers quickly and
in time without any delay.
Introduction of product/service
The highly popularized product of this company in market is women’s fashionable
cloths between customers or in market (Musa, Ijaiya and Mustapha, 2021). In today’s time
the clothing products are highly trending and fashionable between women’s are skirts, gloves,
saris, jackets and others. After the detailed analysis of above information, it is easily
understood that in today’s time the products of the women especially cloths are highly
consumable for the organization profit for long time. In present time women is one of
profitable buyers who always buy many type of cloths in bulk quantity if they are going in
any party, function and occasion. In this way the goodwill of the organization are effectively
maintained in market for long time. In context to Mark and Spencer, management must
produce variety of fashionable cloths according to the current trend of different countries.
With help of effective evaluation company are able to understand effectively that which type
of services and products are required by customers.
In respect of service company are utilized digital platforms and AI technology for
providing their services and products to consumers quickly (Naseri, Noroozi Chakoli and
Malekolkalami, 2021). Due to the effective use of technology the various needs of the
consumers are effectively fulfilled in time. It is also helpful for increasing the convenience of
users at maximum level and due to this they are able to buying their essential product within
low time. The main advantage during the time of enhancing customer convenience is that
strong relationship are developed between employee and customer for long duration. Due to
maintaining good relationship with user’s positive word of mouth are highly spread in market
regarding their product effectively.
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Application of 4Ps marketing mix to the selected
product/service
Marketing mix is basically a set of actions which is utilized by firm for increasing the
sale in their product at higher rate to all categories of customers especially women According
to this strategy the product of this company are sold according to four effective marketing
methods which are described below -
Product
In respect of Mark and Spencer cloths of various fashion and designs are highly
trending and popular in market which leads to enhance the profitability of company at higher
rate. The main reason for the popularity in their cloth product is that they always facilitate
quality and reliable based product to their users (Qaisar and Muhamad, 2021). Due to
facilitating high quality based products to their customer’s overall brand image of company
are easily developed for long time. Therefore, due to receiving quality high quality service
from consumers is very important for developing positive experience of users at maximum
level.
Price
In aspect of price Mark and Spencer is one of the company who always maintain
middle or high price in their product (Ramadhani, Suswanta and Shaddiq, 2021). Due to
keeping this type of price in their goods chances are highly enhanced for decreasing the sale
and brand value in their services at maximum level. Due to this it is essential for Mark and
Spencer that they must provide high quality women cloths at premium price and also with
beneficial schemes to all customer segments. Due to the use of price strategy market share of
firm is easily enhanced within short duration. With help of discounting offers and beneficial
schemes customers are effectively attracted at large scale.
Place
It refers to searching of reliable locations by the organization because due to the use
of right location company have the ability to build strong relations with various customers
and suppliers effectively. The other advantage for choosing right location is that services and
operational activities are run in fast manner which leads to sustain their productivity for long
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duration. The other important point is that during the time of establishing company in other
locations various types of facilities are needed by the firm for run their business functions
smoothly. The facilities which are important for organization are electricity, water, raw
materials etc. Dude to utilizing these facilities company have company have the ability for
developing high quality product according to customer needs and wants.
Promotion
It refers to promoting the existing and new categories of products at wide range with
help of utilizing different types of strategies (Sonawane, 2021). Methods includes personal
selling, digital marketing, sales promotion, online advertising and others. Due to the effective
use of these strategies popularity of women’s clothes is high spread through online mode at
large scale. The technology which is highly used by Mark and Spencer is that official
websites, check in and check out system, online portals etc.
Digital marketing is refers to online marketing which is carried by organization in
quick manner. With the effective utilization of digital marketing various types of reliable data
are easily shared with multiple users. The main function of advertising is to promote the
product of company in different locations at same time. The major advantage for utilizing
this type of strategy by organization is that in this procedure adds are repeating many times in
different devices. Advertising is the most common type of promotional tool and it also
comes under the category of paid form.
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Conclusion
From the above analysis of information, it is concluded that digital marketing plays
crucial role for organization to build strong positive relationship between employee and
employer or employee and customer effectively. Due to the effective use of digital marketing
and marketing desires and wants of the consumers are easily fulfilled in time. In the
procedure of marketing workers are able to identify the issues of customers in low time. In
market method the sale of women clothes is effectively enhanced in comparison with gents
because only women are used these cloths at higher rate in every function.
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References
Books and Journals
ADEGBOLA, A. E., 2021. ONLINE MARKETING AS A TOOL FOR INCREASED
PROFITABILITY: A STUDY OF KONGA AND JUMIA. HALLMARK
UNIVERSITY, p.159.
Dewi, N. W. S., Sutama, I. K. and Murni, N. G. N. S., 2021. Belimbing Tourism Village: A
Green Marketing Strategy. International Journal of Glocal Tourism, 2(3), pp.160-169.
Gholami, M. and Hakak, M., 2021. Designing a Strategic Model for Pricing Industrial
Products with an Approach Activity-Based Costing Based on the Data Theorizing
Method of the Foundation. Journal of System Management, 7(3), pp.35-52.
Kim, E., Duffy, M. and Thorson, E., 2021. Under the influence: Social media influencers’
impact on response to corporate reputation advertising. Journal of Advertising, 50(2),
pp.119-138.
Musa, A., Ijaiya, M. A. and Mustapha, Z. U., 2021. The internal marketing in the last decade:
A systematic review. IROCAMM-International Review Of Communication And
Marketing Mix, 2(4), pp.35-45.
Naseri, Z., Noroozi Chakoli, A. and Malekolkalami, M., 2021. Evaluating and ranking the
digital content generation components for marketing the libraries and information
centres’ goods and services using fuzzy TOPSIS technique. Journal of Information
Science, p.0165551521998045.
Qaisar, F. S. and Muhamad, N., 2021. Internal marketing: a review and future research
agenda. Asia Pacific Business Review, 27(2), pp.267-300.
Ramadhani, R., Suswanta, S. and Shaddiq, S., 2021. E-Marketing of Village Tourism
Development Strategy (Case Study in the Tourist Village Puncak Sosok). Journal of
Robotics and Control (JRC), 2(2), pp.72-77.
Sonawane, P. A., 2021. Exploring New Posibilities of Market Expansion in Rural
India. Turkish Online Journal of Qualitative Inquiry, 12(8), pp.6114-6124.
Utari, N. K. M. T., 2021. Marketing Strategy of Small and Medium Enterprises (MSMES)
Through Instagram in the Marketing Era 4.0. Jurnal Ekonomi & Bisnis
JAGADITHA, 8(1), pp.15-22.
Wisetsri, W., 2021. Systematic analysis and future research directions in artificial intelligence
for marketing. Turkish Journal of Computer and Mathematics Education
(TURCOMAT), 12(11), pp.43-55.
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