Marketing Mix

This article discusses the importance and components of the marketing mix, focusing on the 4Ps: product, place, price, and promotion. It explores how Sainsbury, a retail organization, utilizes these strategies to increase sales and revenue. The article also highlights the impact of pricing strategy and the use of online and offline promotional tactics.

MARKETING MIX
Marketing
Marketing is basically the range of activities which a firm
carries out in order to advertise and promote its products ans
services on large platform
4ps of marketing
The 4Ps of marketing are predominately the framework which
helps organizations to effectively communicate their brand
message to wider audience and hence market the products as
well as services.
Product
This is one of the most important aspect of marketing and thus
relates to the tangible thing which is sold by organization.
Sainsbury have an imperative product strategy where it deals in
wide range of products. It is mainly the retail organization having
food products, toiletries, stationary, etc. Sainsbury offers around
3000 product lines. Out of these, nearly 20% are their own brand.
The wide rage of products helps the company to entice variety of
customers and solve the problems of different kinds of customers.
Place
Place is basically the location where
organization sells their products. Sainsbury has around
598 supermarkets as well as 714 convenience stores
among which 45 stores operates all day and night.
Sainsbury sells their products across different locations
through their wide distribution network and thus
establishes its position for increasing its sale. Having
stores across various countries eventually helps them to
increase their sale. Being present at different location,
company is able to entice the customers from different
region and this helps them to increase their sales and
enter the new markets.Price
This is another most significant aspect of the marketing which is
the price at which organizations sells their products to the
customers. The pricing strategy of Sainsbury has a profound
impact on their customers. It generally uses competitive prices as
well as premium pricing and thus offers their products at much
high price. Talking of the customers, Sainsbury usually focuses on
high income customers and thus keeps their prices high. This
pricing strategy eventually helps them to increase the sale of their
products by positing on high quality.
REFERENCES
Stead, M. and Hastings, G., 2018. Advertising in the
social marketing mix: getting the balance right. In
Social Marketing (pp. 29-43). Psychology Press.
Blut, M., Teller, C. and Floh, A., 2018. Testing
retail marketing-mix effects on patronage: a meta-
analysis. Journal of Retailing.94(2). pp.113-135
Promotion
This is one of the most significant and remarkable aspect of the organization wherein the firms
advertises their products as well as services on the large platform. Sainsbury uses a highly effective promotional
strategy which helps them to increase their revenue ratio and profit. Sainsbury makes the use of both online as
well as offline strategy for advertising its strategy. Talking of the online mode, Sainsbury makes use of social
media for promoting its products on different websites like Instagram, Facebook etc. This social media plays an
important role in increasing the profit by making people aware of their bard and converting customers into
consumers. In offline platform, Sainsbury uses word-of-mouth where they provides a world class quality to
their customers which in turn advertises on their behalf to other people.