Marketing Mix and Its Application to Sainsbury's Next-Gen Plant-Based Products

This report discusses the nature and importance of marketing mix in promoting Sainsbury's next-gen plant-based products. It covers the 4Ps of marketing mix and their application to the selected product/service. The report also provides an introduction to the company and its products, along with an explanation of marketing and marketing mix.

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 p
An explanation of marketing p
An explanation of marketing mix p
A brief theoretical explanation of 4Ps marketing mix
p
Introduction of product/service
p
Application of 4Ps marketing mix to the selected
product/service p-p
Product p
Price p
Place p
Promotion p
Conclusion p
References p
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Introduction
It is designed in such a manner to evaluate the current issues of both politics
and economics which affects the performance and business management. For the
present report, Sainsbury is taken into consideration it was established in 1869 by
John James Sainsbury and it is a public limited company of British origin (Baron,
Harris, and Hilton, 2018). It is associated with retail industry and lifestyle as it deals
in retail sector. The company uses marketing strategies and marketing mix which will
help the company in increasing market share and build brand image. Company will
introduce the product which will help in creating demand and profitability and how it
will apply 4 marketing mix to sell the product and increase the demand.
An explanation of marketing
It is set of a business plan to sell and promote the goods and services in the
market to gain the profit and increase its market share as this is one of the key
aspect of business. By the help of marketing it gains brand awareness which can be
increased by selling high or good quality products and services at reasonable price.
To attain this company uses different marketing strategies to attract new customers
by sales promotion, innovative advertisements etc. The main objective of marketing
is to research and analyse feedbacks, consumer buying behaviour, send surveys
and communicate with buyers about the needs and wants. The goals can be
achieved by good and strong marketing plan. It covers wide area which helps the
company such as market research, pricing, design, brand, consumer psychology etc.
in long run. There are different types of marketing such as viral marketing, influencer
marketing, outbound and inbound marketing, keyword marketing etc. which helps in
different ways to attain its objectives (Biswas, Lund, and Szocs, 2019). It makes
the people interested in buying company's goods and services as it benefits in
generating traffic, raising brand awareness, build trust of brand for customers,
increase revenue etc. E-mail marketing, mobile, direct and digital marketing are
broad concept which brings buyers together by effective marketing campaigns.
An explanation of marketing mix
The objective is to sell the goods in right price at the right place. To promote a
particular brand or product it is a mixture of plans and several ideas which is followed
by marketing representative. There are seven elements of marketing mix that is
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product, price, place, promotion, physical evidence, people and process. These
elements make it easier for the company to sell its goods and services in the market
efficiently and effectively by optimum utilisation of its resources. All the products are
classified into three categories that is intangible, tangible products and services. It
plays an important role in the success of a company as it evolve strengths and
avoids weaknesses. It helps in adaptability of enterprises and strengthen the
competitiveness and it makes sure the internal department of the company works
closely together (Colliander and Marder, 2018). It is the essence of marketing
process as it involves in taking crucial decisions communing to each element of the
marketing mix. In order to meet the changing requirements of the business it has to
be reviewed constantly. Consumer taste and preferences are favourable as it
changes fast and in external environment these changes keep on taking place which
needs necessary alternation in the mix accordingly. Marketing mix is applicable to
both non business and business organisations like clubs and educational institution.
In order to increase its market share and earn profits marketing mix is an appropriate
application to achieve its organisational goals. It helps to provide maximum customer
satisfaction which can be better understand by the four elements of marketing mix. It
helps to keep the view of forces outside the organisation such as any change in
government policies, competitors strategies, change in consumer behaviour etc.
A brief theoretical explanation of 4Ps marketing mix
Product – It refers to the products which is sold in the market in change of
money as it can be in the form of goods and services. Its aim is to provide exclusive
and good quality products in comparison to its competitors. In context to Sainsbury, it
has wide range of products and its offerings are clothing, kitchen products,
furnishing, ready to eat items etc. as it provide good quality products to its
customers.
Price – It refers to the amount of money that a company puts on its products
in order to earn profit in terms of money. It depends on the cost of production, target
groups, their ability to pay and demand for the product in the market. In context to
Sainsbury, it provide good quality products at cheaper price compared to its
competitors (Falk, 2019). In order to survive in the market company sell its goods in
an affordable prices so that consumer can also able to buy them.
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Place – It refers to the area of distribution centre where goods and services
can easily made available to its customers. The objectives of business executives is
to provide goods which can be easily made available to its customers efficiently and
effectively. In context to Sainsbury, it has more than 600 supermarkets and 800
convenience stores and also sales its products online.
Promotion – It refers to the strategies used by company to increase the
customer attention for their brand. In context to Sainsbury, it uses various media to
send messages and influence customers to buy its products which helps to increase
its sales and build brand image.
Introduction of product/service
Sainsbury deals in retail sector as it is associated with retail industry and
lifestyle. It was founded in 1869 by John James Sainsbury and it is a public limited
company of British origin (Hauser and et.al., 2018). It has wide range of products
such as clothing, kitchenware, groceries, electronics, healthcare and beauty
products etc. are available for customers. The company is now planning to introduce
'next-gen' plant based products in the market. This will increase the demand in near
future and helps to build the brand image and profitability of the company. The plant
based products are generally classified into grains, nuts, seeds, fruits and
vegetables etc. as it is totally made of plants and no animal products. It is important
to launch this product as people are becoming more health conscious and try to
avoid the things which harm the animals such as meat, fish etc. It will increase the
demand for plant based products as now a days people become more health
conscious towards themselves and society. It will provide truly delicious and
innovative options to take the reduce of cooking flexitarian. The new product range
joins Sainsbury's existing product line such as vacon rashers, cheddar style Kievs,
hot and spicy goujons etc. which help the organisation to gain its market share
efficiently and effectively while taking care of customers health (Janssen, 2018).
Application of 4Ps marketing mix to the selected
product/service
Product
It has wide range of its products offering to its customers and now the
company is launching next-gen plant based products in more than 30 stores of UK.
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This will create the high demand for plant based products in the market as now
people are becoming more health conscious which reduce the demand for animal
based products. It provides the various range of plant based products such as vegan
steaks, shroomdogs, hot and spicy goujons etc. with its existing products. Apart from
this, company sells its own label organic fruits and uses biodegradable packaging
made from potatoes in biodegradable trays. It uses innovative and good quality
products with its existing products range in the market to increase the sale of its
products in an effective manner (Kumar and et.al., 2019). To produce the products
at low cost the company uses innovative methods and latest technology machines
which is very helpful to gain maximum profit. It displays its product in an eye catching
manner which attracts the customers and influence them to buy from the producers.
Price
It uses competitive pricing policy to sell its product instead of price cutting
policy as it provides gains for short run only in market. It sells its products at an
affordable prices in comparison to its competitors which helps the company in
increasing sales and build brand image. To survive in the market with its new plant
based products the company sells it at an affordable prices to increase the demand
and buying habits of product in the market. It tries to maintain the good quality and
services to ensure customer control over its products. It offers fair prices of great
products and services. The main motive of company and primary objective is to sell
and provide good quality products to its customers as pricing is the secondary
objective. It order to attain maximum profit company uses various new technologies
and methods which can reduce the cost of production so that it can able to increase
its profit margin (O'Dwyer and Gilmore, 2018). It can also optimum utilise of
resources as the resources are scare in the world.
Place
The company sell its products in more than 700 supermarkets and had over
800 convenience shops in the world. It sells its products through online through
websites, mobile apps, and various online groceries stores. To sells its latest product
range that is plant based products it uses various places, stores and online stores to
sell new product with existing product in the market to increase market share and
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demand for the product in market. The buyer can choose its products online and can
buy them through mobile phones, laptops etc. and the products can be delivered at
home by the company. It also provides the facility of online payment through various
modes and it offers gift vouchers, food tokens, food tokens, gift cards etc. in order to
promote its new plant based products in the market. It operates its business 24*7
which is more convenient for the customers.
Promotion
It helps to communicate with its customers in an effective way to influence the
customers to buy its goods and services. The company Sainsbury uses different
techniques and methods to promote its products such as an eye catching tag lines
and advertisements used in TV, radio, internet, newspapers etc (Sultan and et.al.,
2020). It uses sales promotion techniques to influence customers. In order to launch
new product in the market company uses various offers like buy one get one free
offer, price cut, discounts offers, exciting gift vouchers to promote its new next-gen
plant based range in the market. By giving various offers it influence them to buy or
at least try the products. It gives various necessary information about the product
and tell them their benefits in comparison to animal based products and how harmful
they are to the health. It is the most essential, expensive and effective element of the
marketing as it grab the attention of buyer and influence them to purchase the
products. It should provide the new product in attractive packaging and labelling as it
can also be used gift the products.
Conclusion
From the above nature and importance of the marketing mix within the
marketing process of Sainsbury company helps it to launch its new product that is
plant based product in the market efficiently (Taylor, 2018). It can be achieved by
the use of 4 elements of marketing mix that is product, price, place and promotion.
Firstly the basic explanation of marketing and marketing mix is explained. Apart from
that, introduction of the new product has been given and how it can use marketing
mix strategies to sell its product efficiently in the market to attain profit and build
brand image.
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References
Baron, S., Harris, K. and Hilton, T., 2018. Services marketing: text and cases.
Bloomsbury Publishing.
Biswas, D., Lund, K. and Szocs, C., 2019. Sounds like a healthy retail atmospheric
strategy: effects of ambient music and background noise on food
sales. Journal of the Academy of Marketing Science, 47(1). pp.37-55.
Colliander, J. and Marder, B., 2018. ‘Snap happy’brands: Increasing publicity
effectiveness through a snapshot aesthetic when marketing a brand on
Instagram. Computers in Human Behavior, 78, pp.34-43.
Falk, S., 2019. Field guide to the bees of Great Britain and Ireland. Bloomsbury
Publishing.
Hauser, P. and et.al., 2018. Implications of diversification strategies in the European
natural gas market for the German energy system. Energy, 151, pp.442-454.
Janssen, M., 2018. Determinants of organic food purchases: Evidence from
household panel data. Food quality and preference, 68, pp.19-28.
Kumar, V. and et.al., 2019. Customer engagement in service. Journal of the
Academy of Marketing Science, 47(1). pp.138-160.
O'Dwyer, M. and Gilmore, A., 2018. Value and alliance capability and the formation
of strategic alliances in SMEs: The impact of customer orientation and
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Sultan, P. and et.al., 2020. Intention-behaviour gap and perceived behavioural
control-behaviour gap in theory of planned behaviour: Moderating roles of
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Taylor, C., 2018. Geography of the'new'education market: Secondary school choice
in England and Wales. Routledge.
Uyarra, E. and et.al., 2020. Public procurement, innovation and industrial policy:
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