Analysis of Marketing Mix Elements and Their Application

The assignment analyzes the four Ps of marketing - product, price, promotion, and place - and their significance in marketing strategies. It also examines the relevance of these elements in contemporary marketing practices, highlighting examples from academic research papers on marketing mix and its applications.

MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Overview of the organisation.................................................................................................1
TASK 2............................................................................................................................................2
Description of Marketing Mix................................................................................................2
TASK 3............................................................................................................................................4
Identification of marketing mix elements in Malaysia Airlines Berhad................................4
TASK 4............................................................................................................................................5
Evaluation on influence of marketing mix.............................................................................5
TASK 5............................................................................................................................................7
Summary.................................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCE...................................................................................................................................8

ILLUSTRATION INDEX
Illustration 1: 4ps of marketing mix.................................................................................................3

INTRODUCTION
Marketing is the essential aspect for every organisation to set the goodwill in the market.
The different elements of the marketing are the key important factor for the organisation bring
segment their goods and service in market. As we had chosen Malaysian Airline in the report it
deal in the airline industry. The provide different service to their passengers in aircraft with
affordable price.
TASK 1
Overview of the organisation
Malaysia Airlines Berhad which is previously known as Malaysian Airline System
Berhad. It is founded on 70 years ago on 1 may 1947 but the commencement of operations
started on 45 years ago. It was relaunched in the year 2015 with the more changes in their
brands. As the biggest Malaysian airline which provide different service to the customers. The
golden lounge is the airport lounge for them as they provided al, types of service. As the golden
lounge has open the bars and various food are available in the airlines. (Anche, Hozouri, and
Mehdizadeh, 2014)). In 2008 they had launched new regional golden lounge in different parts of
Malaysia domestic airports. It is honour for the Malaysian airline as they got the best cabin crew
award by skytrax in 2012.
Industry: Aviation sector ( Airline industry)
Ownership of the organisation: In the year 2014 government of Malaysia owned 69.37 of the
airline and still some part is remained to purchase with the shareholders form the stock exchange
of Malaysia.
Size of organisation: In the organisation more than 14000 employees are working with different
positions. Airline have the 57 destination all over the world . The total revenue of the airline is
the 78 million which is remarkable than their competitor.
Services:
 First class available on Airbus A380 aircraft.
 Business class is also previously known as golden club class in Malaysian air lines.
 Economy class is available on airline with affordable price. Also the economy class have
been awarded for world best economy class by skytrax.
1

One of their service has been in controversial due to prohibition of children in some cabin and
aircraft in their airline. The child free zone in the airline bring their reputation and also the
parental passenger are less prefer of Malaysian airline after their decision.
Incident with organization: The Malaysian airline has lost Aircraft MH370 in 2014, which is
the biggest incident for the organisation. All the passenger with crew members died, still the
aircraft not found.
TASK 2
Description of Marketing Mix
It is a tactic for organisation to promote their brands with the various strategies of the
marketing. The 4ps are the essential element of the marketing for the organisation as the
products, place price, promotion but nowadays the 7ps in marketing mix including with
packaging, people and positioning. The various marketing mix or the elements of the marketing
mix such as follows
 Price: it is defined as the value set for the particular products or services for end use. The
price can be depends on then various factor of the organisation it can the cost which is
involved in the production or service. It is difficult to set the price by organisation
because the have to identified many factors which can be the segmented target.
Sometime the customer are not able to pay huge cost to a particular product so the
organisation have to deal with paying condition of the people. Also they have to measure
the direct and indirect factors (Bushberg and Boone, 2014).
 Product: it refers as the goods which is manufacture by the organization with the
different factors of production for the consumption of end user that can be said as
products. There are two type of products that can be tangible and intangible products.
The tangible products can be said as the physical available to the end user in which they
can touch the products on other hand intangible products are the not visible but the end
user can either feel or they can experience it . such as services are include in intangible.
Also the product in marketing can be place fore the buyers and seller for the exchange of
money for a particular products or services.
 Place: it refer as the particular location where the goods and service can be available to
the end user. To every location their is buyer and seller as they buyer can purchase the
2

goods and service by meeting with seller that can be know and physical market or
purchase from the virtual market such as online purchasing (Chaston,2014). It i important
aspect fore more attracting to the target customer. If the place is not according to the
customer target that the organisation has to suffer many difficulties.
 Promotion: it is refers as different strategies and innovative techniques have been
implemented by the organisation to aware about the products to the customer for their
brands. As the promotion is the best methods for the organisation to take the advantages
by promoting the products and make the strong brand in market. Promotion can be done
through various ways such as advertisement to promote the goods and services as print
media can educate the customer for various products, television is also the best way to
aware about the existence of the new product in market and radio is also they effective
way to attract the customer for any new entrant organisation in market.
3
Illustration 1: 4ps of marketing mix
(Source: Marketing mix elements, 2016).

TASK 3
Identification of marketing mix elements in Malaysia Airlines Berhad
For encouraging people towards Malaysia Airlines Berhad, marketing mix elements are
analysed for appropriate decision making. However, quality used for manufacturing and
producing services are determined. In this regard, cost incurred on manufacturing and production
are determined impacted on influencing people as well competitiveness of destination (Satit and
et.al., 2015). Therefore, marketing mix for Malaysia Airlines Berhad destination can be
understood as: Product: In this marketing mix, decisions are made for used quality of material during
production and marketing of destination. In addition to this, ways are recognised for
product services and decisions for further operations. It includes decision making
towards for making products more attractive as well attractive for attracting people at
most for destination (Schroeder, 2015). Therefore, decision making process related to
creating innovation in quality of services of Malaysia Airlines Berhad is created which
impacted on demand for it as well profitability and competitiveness. Price: Analysing marketing mix elements are effective for appropriate price
determination and attracting customers towards appropriate costs for airline services of
Malaysia Airlines Berhad. In this regard, price is determined on the basis of cost incurred
on production process as well market demand, competitive strength of the entity and so
on (Joppi, Gerardi and Garattini, 2016). Therefore, according to different income earning
levels of consumers, appropriate and effective price can be set for organisation's services
and demand for its services get increased on larger scale. Place: This marketing mix element is appropriate for decision-making in relation to
meeting customers' expectations as of meeting providing them comfortability. In this
regard, place is determined to reach out tourists as well achieving their satisfaction at
maximum level. Moreover, place is decided for which kind of services will appropriate
for maximizing their interest towards Malaysia Airlines Berhad (Grönroos and Ravald,
2013). However, by which manner, information can be provided to people related to new
creations in destination. Including this, it is also decided that how to stock materials and
storing products which impacted on its optimum utilization.
4

 Promotion: Under this marketing mix element, advertising techniques are analysed for
encouraging people towards airline services. However, it is decided that which
advertising technique will be suitable to attract people on large scale. It impacted on
demand for airline services as well profitability and market position of Malaysia Airlines
Berhad (Amirkhanpour, Vrontis and Thrassou, 2014). Therefore, variety of ideas are
generated for promoting airline services for advertising through newspaper, TV, radio,
using social networking platforms and so on.
Thus, marketing mix elements are beneficial for effective decision making regarding Malaysia
Airlines Berhad in terms of quality, cost, attracting tools to encourage people etc. It influences
demand for airline services as well market position and competitiveness of the airline services.
Moreover, variety of ideas are generated for decision making and increasing demand for airline
services and setting price for sustaining its market position as well related with future
implementations. However, it is analysed that marketing mix elements are effective for
appropriate decision making and encouraging people at maximum level.
TASK 4
Evaluation on influence of marketing mix
For Malaysia Airlines Berhad services, price for purchasing tickets, service of airline are
identified for maximizing satisfaction level of tourists. Therefore, marketing mix elements are
significant for improving quality services and tourists' satisfaction with airline services
effectively.
 Appropriate planning and decision making:
On behalf of analysing product services in all contexts as quality, cost, place and
promotional tools, appropriate decisions can be made for improving business performance of
Malaysia Airlines Berhad. In addition to this, price optimization and factors for systematic
production and distribution system will be benefited. Including this, price determination can be
effective which is linked with demand for airline services (Biggemann, 2014). Therefore,
marketing mix is an effective tool for decision making regarding Malaysia Airlines Berhad
services for attracting customers and increasing profit level as well marketability.
 Optimum utilization of resources and fund:
5

It is recognised that marketing mix elements are useful for utilizing resources and fund
effectively. Besides this, actual market position is recognised for which ideas are created for
utilizing resources as well recycling them for reducing wastages (Satit and et.al., 2015). In
addition to this, it is efficient to fulfil users' requirements as well sustaining market position for
longer time period. Therefore, effective use of all resources and fund can be done impacted on
productivity and profit level of the entity.
 Increasing efficiency and competitiveness of Malaysia Airlines Berhad:
It is analysed that if Malaysia Airlines Berhad analyses market position and its
competitive strategies then ideas are generated for enhancing its efficiency. Along wit h this,
recent market trend as well new technologies are recognised for improving quality services of
airline (Grönroos and Ravald, 2013). Including this, it will be resulted to increase demand for
airline services an implementing new strategies to achieve effectiveness. However, using
marketing mix elements are appropriate for maximizing customers' satisfaction level with its
services.
 Increasing customer loyalty:
It is one of the essential tool for establishing and maintaining good relations with
customers including agents, retailers and other business entities. Therefore, demand for airline
services of Malaysia Airlines Berhad get increased (Lehtinen, 2014). Hence, it is determined
that customer loyalty get increased by providing services according to market demand and
fulfilling their requirements at maximum level.
 Cost effectiveness:
It is appropriate for cost effectiveness and setting effective prices to satisfy customers
with tickets and other luxuries of airline (Schroeder, 2015). Hence, cost effectiveness for
services of airline can be set for meeting users' comfortability and sustaining their interest with
facilities of Malaysia Airlines Berhad effectively.
 Expansion of Malaysia Airlines Berhad:
It is analysed that expansion of any entity is done in different ranges as; product
development, entering into new market, establishing new entity, online marketing and so on
(Amirkhanpour, Vrontis and Thrassou, 2014). Then, it can expand Malaysia Airlines Berhad in
6

these ranges as providing online ticket booking facility, contacting with them using social
networking sites for product details and others.
TASK 5
Summary
Marketing mix elements are essential for appropriate decision making regarding business
and marketing plan to maximize satisfaction level of people. In thsis regard, marketing mix
elements and evaluation on their significance are discussed for Malaysia Airlines Berhad's
airline services (Guy and Patton, 2013). It is required to encourage people for its services using
techniques as; advertising through newspaper, magazines, social media and using social
networking sites etc. In this regard, actual market position of the entity and customers'
requirements towards its services are recognised. For which, variety of ideas are generated for
satisfying service users at maximum level and increasing profitability of the organisation
effectively. Hence, it is understood that marketing mix elements are significant for appropriate
decision making in relation to attracting people towards its airline services.
CONCLUSION
It is concluded that marketing mix elements are essential for maximizing customers'
satisfaction and increasing demand for Malaysia Airlines Berhad services. In this regard, 4ps of
marketing mix including product, price, place and promotion has been understood. However, its
significance in terms of production and distribution system, marketability and competitiveness is
identified. In addition to this, variety of ideas are generated for improving quality services of the
organisation and increasing customer loyalty towards airline services. Along with this,
appropriate usefulness of marketing concept for promoting goods and services as well enhancing
efficiency are determined for sustaining its market position for longer time period. Overall,
knowledge regarding marketing concepts and its mix elements' usefulness has been understood
in this assignment.
7

REFERENCE
Books and Journal
Amirkhanpour, M., Vrontis, D. and Thrassou, A., (2014). Mobile marketing: a contemporary
strategic perspective. International Journal of Technology Marketing. 59(3), pp.252-269.
Anche, F., Hozouri, S. and Mehdizadeh, A., (2014). An exploration investigation on important
factors influencing e-marketing: Evidence from banking industry. Uncertain Supply
Chain Management. 2(1). pp. 49-54.
Biggemann, S., (2014). The essential role of information sharing in relationship development.
Journal of Business & Industrial Marketing. 27(7). pp.521-526.
Bushberg, J.T. and Boone, J.M., 2014. The essential physics of medical imaging. Lippincott
Williams & Wilkins.
Chaston, I., (2014). Small business marketing. Palgrave Macmillan.
Christopher, M. and Peck, H., (2014). Marketing logistics. Routledge.
Day, G.S., (2013). Closing the marketing capabilities gap. Journal of marketing. 75(4). pp. 183-
195.
FISK, R.P., (2013). lMPRESSION MANAGEMENT 26 IN SERVICES MARKETING: A
DRAMATURGICAL PERSPECTIVE. Impression management in the organization.
4(2). pp. 427.
Grönroos, C. and Ravald, A., (2013). Service as business logic: implications for value creation
and marketing. Journal of Service Management. 22(1). pp.5-22.
Guy, B.S. and Patton, W.E., (2013). The marketing of altruistic causes: understanding why
people help. Journal of Consumer Marketing. 3(2). pp. 78-103.
Joppi, R., Gerardi, C. and Garattini, S., (2016). Letting post-marketing bridge the evidence gap:
the case of orphan drugs. BMJ: British Medical Journal. 7(4). pp. 353.
Lehtinen, U., (2014). Combining mix and relationship marketing. The Marketing Review. 11(2).
pp. 117-136.
8

McKenzie-Mohr, D., (2013). Fostering sustainable behavior: An introduction to community-
based social marketing. New society publishers.
Preston, C., (2014). Event marketing: how to successfully promote events, festivals, conventions,
and expositions. Wiley.
Ryan, D., (2014). Understanding digital marketing: marketing strategies for engaging the
digital generation. Kogan Page Publishers.
Wilson and et.al., (2015). Formative process evaluation for implementing a social marketing
intervention to increase walking among African Americans in the positive action for
today’s health trial. American journal of public health. 221(12). pp. 2315-2321.
Satit, R.P. and et.al., (2015). The relationship between marketing mix and customer decision-
making over travel agents: An empirical study. International Journal of Academic
Research in Business and Social Sciences. 22(6), p.522.
Schroeder, J.E., (2015). Critical marketing: insights for informed research and teaching. Critical
marketing: Defining the field. 45(6). pp. 18-29.
Tiwari and et.al., (2016). Green marketing-emerging dimensions. Journal of Business
Excellence. 2(1). p.18.
Online
Marketing mix elements. 2016. [Online]. Available through:
<https://www.marketing91.com/marketing-mix-affects-pricing-decisions/>.
9