Marketing Mix: Application on Tesco's Plant-Based Meat Product

BSc (Hons) 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
Marketing refers to different set of activities that a company undertakes in the
business conduct in order to promote the selling and buying of services or product. This
process includes set of institutions, communicating, processes for creating, delivering and
exchanging offerings that value customers and clients (Lahtinen, Dietrich and Rundle-Thiele,
2020). Marketing mix refers to the process that majorly covers the four Ps that are proven to
be effective in process of marketing. This report covers the marketing strategy of Tesco PLC
to introduce new product in the market. Tesco PLC is a UK based multinational retail grocery
company which is currently the third largest retail organization in terms of gross revenue.
Further Marketing mix is applied on that new particular product in order to evaluate potential
of the product in market.
An explanation of marketing
Marketing refers to the process of creating, exploring and delivering values which
will help the organization in meeting the needs of target market. The objective of the business
is to promote a product in a most effective manner so that the company can earn good amount
of revenue from that particular product. Marketing include several components such as target
audience, themes, advertising campaigns, designing of products and packaging (Lim, 2021).
This is treated as one of the major component of commerce and business management which
helps the company in delivering objective. Marketing is considered as one of the most
essential task that helps the company in creating products and services and further selling
them to customers through research and methods of promotion. The function area of
marketing is dedicated to perform the function which are related to promotion and selling of
product. This department ensures that the products and values of business are well received
by customers. In context of Tesco, they have a full fledge marketing team who deals with
advertising, research and promotional areas. They come up with creative and effective
campaigns so that the customers can understand the ideology on which the business is
operating.
An explanation of marketing mix
The marketing mix refers to set of actions and tactics that the company uses in order
to promote its product or brand in market. This marketing mix is typically composed of 4Ps
which covers the major areas of industry and how these areas need to be maintained by
organization. Effective marketing is generally accomplished by Tesco, by doing an extensive
research along with keeping P’s in mind would help the company in exploring the several
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