The Nature and Importance of the Marketing Mix within the Marketing Process

This report explores the nature and importance of the marketing mix within the marketing process. It defines marketing, explains the theoretical explanation of the marketing mix, introduces the product and services of Mark's & Spencer, and discusses the 4P's of the marketing mix. The report also highlights the importance of marketing and provides recommendations for improvement.

The nature and importance of the
marketing mix within the
marketing process

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Definition of marketing ...............................................................................................................3
Theoretical explanation of Marketing mix .................................................................................3
Introduction of product and services............................................................................................4
Marketing mix 4P's .....................................................................................................................5
Recommendations........................................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing process refers to the four elements strategic marketing analysis, marketing mix
plaining, marketing implementation and the marketing control. All together they are know as the
marketing process. It allows the company to find out their problems analyse the market
opportunities and create a marketing materiel.
This report will cover the study of M&S which is British multinational organization
selling the varieties of the product and services that include clothing, food product, furniture and
home appliances.
This report will explain the importance or marketing and conduct the marketing mix of
the Mark's & Spencer's. It will explain 4 p's of marketing m ix that will include the product,
prices, place and promotion of the M&S.
MAIN BODY
Definition of marketing
Marketing refers to the companies activities that helps organization in the promotion of
the product and services sell by the company (Blut, Teller and Floh., 2018). It can include the
selling, advertisement, delivering the product to the potential buyers of the other business It is
necessary for the companies to have the string marketing team who can run the marketing
activities for them a aware people about the company and their product and services. Without
marketing company cannot sell their product needs services within the market so companies like
Mark's & Spencer' should develop string market team to take competitive advantages.
Marketing is the promotion of business products or services to a target audience.
Common examples of marketing at work include television commercials, billboards on the side
of the road, and magazine advertisements. But not all businesses approach the need to market
their goods and services the same way. Marketing can also be done thorough the digital ways
and social media, SEO, content writing are the best example of the marking where companies
run their campaign to attract customers who can buy their product and services.
Theoretical explanation of Marketing mix
Marketing mix refers to the combination of the elements that shapes the business delivers
the value t their buyers. It is one of the most important part of the marketing process that helps to
define that what are the product of the company, place define where company is operating their
business where they are looking for the more expansion of the business and promotion explain

the what are the strategies company used to promote their products and services and these
strategies helps company to meet their customers who buy the product and services from them.
price- price is the most essential element of the company that helps top define that what are
pricing strategies used by the Mark's & Spencer' to take constitutive advantages and these
strategies can include the competitive pricing strategy, Cost plus, value based pricing and many
more other and company decide their pricing strategies according to their product and market
position, and they also see the affordability of the customers (Bocconcelli., and et.al., 2018).
One of the main reason behind the key success of the marketing activity and their process
is their marketing mix, it also helps to define that how company satisfying their customers and if
their customers are happy with the work. A marketing team of the Mark's & Spencer' can
identify the customers requirement and new strategies that can be used by them for the
customer's satisfaction, and they can take competitive advantage within the market where they
are operating their business and achieve success in their business. The 4 p's of the marketing mix
is the best in the utilization with the proper mix to the counter of the competition an attracts the
customers and prise the sales of the organization so company can improve their brand image.
proper analysis results in effective decision-making process. The management is able to
prioritize the steps to be taken for successful implementation of strategies. It helps in focussing
attention on the needs of the market. It is necessary for the companies to have the string
marketing team who can run the marketing activities for them a aware people about the company
and their product and services (Datta, Ailawadi and Van Heerde., 2017). Without marketing
company cannot sell their product needs services within the market so companies like Mark's &
Spencer' should develop string market team to take competitive advantages. Marketing mix also
helps so bringing the effectiveness in the utilization of the resources of the company and make
available on the time when they are needed to the organization. The investments of accurate
times and resources is done of the basis of customers needs and this can also bring the cost-
effectiveness of the organization and company can take the competitive advantages within the
market where they are operating their business and achieve the success in their business with the
better productivity.
Introduction of product and services
Mark's & Spencer is one of the Top leading organization in the Unite kingdom with 3.1
percent of the shares in the UK, and they are also listed on the London stock exachnage which

means they are publicly trade their shares for the capital. Mark's & Spencer is currently having
the 959 stores in the Uk including the 615 that only for the food selling. They re selling varieties
of the product and services to their customers that include -
Clothing
Mark's & Spencer sell trending clothes for the men, woman, old age people and kids and
most of the people. Their clothes are made up of high quality material and sell on the higher
prices to the customers.
Food products
Mark's & Spencer also sell the food products and as mentioned above they have 615
food selling stores that only deals with the selling of the food product by the Mark's & Spencer.
They use Marks & Spencer and Ocado have now launched their first full delivery service, with
customers able to order 6,000 M&S food items to their homes(Gunawan and Wahyuni., 2018).
Home appliances & furniture
' All kind of products are related to home are available on the stores and online site of the
Mark's & Spencer. Home appliances can include the product that are related to the Kitchen and
the furniture they have Sofa bed and many their customize product that they sell to their
customers.
Grocery product
All the grocery products including the basic product that are used in the daily life of the
customers are valuable ion the nearby stores of the Mark's & Spencer where customers can buy
products as they want and fulfil the daily demand of themselves accordingly. It includes the basic
product that used by the customers in their daily lifestyle to satisfy their needs.
Marketing mix 4P's
Product
Mark's & Spencer is selling the varieties of the product and services to their customers, it
include the products like in the different different categories and mainly their focus s on the food
and clothing. In the clothing Mark's & Spencer sell trending clothes for the men, woman, old age
people and kids and most of the people. Their clothes are made up of high quality material and
sell on the higher prices to the customers (Iankova, and et.al., 2019). They also include the other
product categories like the homes appliance all the kitchen related product are available to their
grocery stores. Producer product include all type of daily products and food product also include

the ready meal that is useful for the people who are in hurry, and they do not have the time to
kook the product themselves. This pronation of customers can satisfy their need within the
product like ready meal.
price
They are using the premium pricing strategy for the clothing, but they are facing the
competitive pressure from the competitors like discount clothing stores who provide their
product in the lower prices. On the other side they sell the fresh food product in the reasonable
prices and for that they use the competitive pricing strategy to take competitive advantages in the
food market (Li, Larimo and Leonidou., 2021). They have technology to store food for the long
period of times and company can also provide fresh product in the lower prices to the customers.
This satisfies is spinel them to take competitive advantages within the market where they are
operating their business. Prices of the food product provided by the Mark's & Spencer are
satisfying and helping them to take competitive advantages in the market, so they can show their
presence.
Promotion
Promotion is the most important part of the company and Mark's & Spencer is using all
kin d of promotion strategies but mainly they are focused on the social media strategy for the
promotion of their product and services. They are promoting their product and services on the
social media sites like Instagram, Facebook, YouTube etc that is helping them to get b higher
traffic on their website and some of them convert into the product buyers. Social media have
huge benefits to the Mark's & Spencer because they are able to target the potential customers as
per their target which means the higher changes of selling and cost of the social media is also
affordable and company can easily effort the advertisement on the social media. Apart from the
social media company also give their advertisement on the Tv advertisement where they attract
the large number of people and it is mainly for their physical stores grocery shopping. People an
visit their nearby stores and satisfy their needs (Papadas, Avlonitis and Carrigan., 2017).
Place
Mark's & Spencer is the multinational brand who has more than 1000 stores in around 50
countries. Their top markets are Uk and India, they have open their 850 stores in the United
kingdom and 50 plus stores in India. Some else nation where it has got its presence are Turkey,
Spain, France, Ireland, Hungary, Finland etc. Marks & Spencer has got its own website from

where the customer can buy goods and get home transportation services. M&S also supply an
option for international transportation for limited goods.
Recommendations
Marks & Spencer is leading the market effectively and selling their products with the
higher quality, but they are facing the higher competition from the discount retailers who operate
their business locally and provide their product with the huge discount to their customers. It is
necessary for the company to take competitive advantages and for that they have to decease the
prices of their product. To overcome the issues of discount stores, it is necessary for the Marks
& Spencer to create good relationship with their suppliers of they can get the product and
services in lower prices without affecting their product quality (Wu, and Li., 2018). Leadership
with the retailers will provide them good discount to the customers, and they can achieve success
in their with the lower prices and discount on their product.
Company can also improve their product and services by implementing the new
technology at their workplace. Most of the technology using within the stores of the Marks &
Spencer are old and replacing them with the new one will not only make their employees work
more effective but they will also able to attract customers, and they can create good experience
for their customers . It will also satisfy customers needs and their need because they will get
better services from the organization and company will able to show their presence in the market
here they are operating their business.
CONCLUSION
As per the report has been coved case study of the Mark's & Spencer and it has been also
explained the importance of the marketing within the company and how it helps company to take
competitive advantages. It has been exampled the role of marketing mix in the marking process
and what it is necessary for the company to undertake the marketing mix in their marketing
process with the expulsion. This report has been provided the information of the Mark's &
Spencer product and services briefly. In end of this report has been conduced the marketing mix
of Mark's & Spencer and provide recommendations for the improvement in their strategies.

REFERENCES
Books and journal
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.
Bocconcelli, R., and et.al., 2018. SMEs and marketing: a systematic literature
review. International Journal of Management Reviews.20(2). pp.227-254.
Datta, H., Ailawadi, K.L. and Van Heerde, H.J., 2017. How well does consumer-based brand
equity align with sales-based brand equity and marketing-mix response?. Journal of
Marketing.81(3). pp.1-20.
Gunawan, A. and Wahyuni, S.F., 2018. The effect of marketing mix, service quality, islamic
values and institutional image on students’ satisfaction and loyalty. Expert Journal of
Marketing.6(2).
Iankova, S., and et.al., 2019. A comparison of social media marketing between B2B, B2C and
mixed business models. Industrial Marketing Management.81. pp.169-179.
Li, F., Larimo, J. and Leonidou, L. C., 2021. Social media marketing strategy: definition,
conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of
Marketing Science.49(1). pp.51-70.
Papadas, K. K., Avlonitis, G. J. and Carrigan, M., 2017. Green marketing orientation:
Conceptualization, scale development and validation. Journal of Business Research, 80,
pp.236-246.
Wu, Y. L. and Li, E. Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce: A stimulus-organism-response perspective. Internet Research.