Seven Elements of the Marketing Mix and Strategic Marketing Decisions: A Case Study of Pret a Manager

WRITTEN COURSEWORK
TABLE OF CONTENTS

INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Seven elements of the marketing mix-.........................................................................................3
Strategic marketing decisions and theories in marketing efforts-................................................7
Evaluation of the marketing effectiveness by marketing efforts-................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is term which refers to as the activities undertaken by the companies for promoting
the produced product or service for buying and selling in the market to attract the customers and
for the growth of the company. This process involves advertising, buying, selling and delivering
the products to the customers or the other companies. Sometimes, the affiliates do the marketing
on behalf of the company. Pret a Manager is the UK based company international sandwich shop
franchise chain. Pret a Manager is the retailer which offers high quality sandwiches, salads and
drinks to its customers. This company has around 460 shops in the UK and 324 shops alone in
the London (Davis and et.al., 2018). This coursework report will discuss the seven elements of
the marketing mix which helped this company to make position in the market within the last
three years such as product, price, place, promotion, physical evidence and many more. Along
with this, it will also discuss the strategic decisions which are taken by the company while using
these marketing theories for increasing the performance of the company such as setting right
price and right target market as well as the indicators used to evaluate the effectiveness of the
marketing efforts.
MAIN BODY
Seven elements of the marketing mix-
Marketing mix focuses on the multiple areas of the marketing plan and it is the
foundation model for the every business. The marketing mix has been referred to as the set of the
marketing tools which is used by the companies to achieve its objectives and goals in the target
market. Effective marketing helps the company to reach wider range of audience by using the
four Ps of the marketing mix. In services marketing, they are comprised of 7 Ps of the marketing
mix including the performance (Išoraitė, 2020). It is very important for the organizations as it
helps in developing the strengths and eliminate the weaknesses and provides competitive edge to
the companies. The different elements of the market mix usually work with the conjunction to
one another. Pret a Manager used the four elements of the marketing mix which helped in
making position in the market. The elements are as follows-
Product- This element of the marketing mix is considered as the fundamental element. It is
anything the company wants or trying to sell to its customers or any other business in the market.
This is something by which the companies attract the customers, boosts their brand image and

reputation, growth of the business and it helps in satisfying the needs and wants of the customers.
The product can be such as goods, services, places and properties, informations, events and many
more. The choices of the product by the customers is made on the uniqueness such as quality,
design, packaging, sizes, warranty, benefits and many more.
Product are usually categorized into three types tangible product, intangible product and
services. Tangible products are those which has physical presence whereas intangible products
are those which has no physical appearance (Jermsittiparsert, 2019). This element is key
component because through this only the consumers are connected and helps the companies to
generate the revenues. Pret a Manager company has effectively used the product element of the
marketing mix as it helped them to attract the customers by providing quality food and different
types of food to the customers which increased the sales of the company and this contributed in
positioning of this company.
Price- Price is considered as the crucial element of the marketing mix because it is directly
linked with the company's profit and survival. This element of the marketing mix refers to as
value the customers pay in exchange for buying the goods and services of the company.
Deciding the price of the product plays a vital role for the success and growth of the company
(Kareh, 2018). The factors like list price, discount, competitor's price, terms of sale and many
more are taken into account while determining the price of the products or services.
A little change in the price can heavily affect the company's profit and position in the
market because deciding higher prices will lead to loosing of the customers and if nominal prices
are set then the company can attract more customers. The prices of the products and services are
also determined by taking into consideration the demand of them. Pret a Manager used this
element very effectively that it helped them in increasing their positioning in the market. The
prices they set were according the demand and by evaluating the competitors price so that more
customers could be attracted.
Place- Place element of the marketing mix refers to as the geographical location at which the
companies sell its products and services that is having the stores as that locations. This element
of marketing mix is also one of the key part of effective marketing strategy. It is very important
to understand the place where the product will be selling for having the target market because
selling the products where the people are not interested in them will not help in growing and