4 P's of Marketing Mix

This assignment discusses the concept of marketing mix and its importance in business. It focuses on the 4 P's of marketing mix - product, price, place, and promotion. The assignment also includes the use of STP approach, Lewitt's model, and various pricing and promotional strategies. It concludes that effective implementation of marketing mix is crucial for achieving business goals.

4 P'S
MARKETING MIX

Executive summary
Marketing mix is a concept through which firm implement strategies and tactics and
which are related with marketing of goods as well as service. With help of marketing mix, firm
is able to analyse the new opportunities in market which helps in growth and development of
business. Marketing includes number of theories, concept and models such as Lewitt model.
With help of these concepts firm is able to carry out their business and operations in appropriate
manner. Also, effective decision making is required in marketing mix and time as well as huge
cost is required to complete the process.

Table of Contents
Executive summary .......................................................................................................................2
Target Market ................................................................................................................................4
PRODUCT/BRAND- ...................................................................................................................5
PRICE- ..........................................................................................................................................6
PLACE- .........................................................................................................................................6
PROMOTION- .............................................................................................................................6
CONCLUSION..............................................................................................................................7
REFERANCES .............................................................................................................................8
BOOKS& JOURNAL:..............................................................................................................8

INTRODUCTION
Marketing mix is wider and broader concept and organisation uses this approach so that
goods and products used in firm are able to maintain communication in the market. Four P's of
marketing includes product, price, promotion and place. Two organisation are there Fairy
Washing Up Liquid and Ecover Washing Up Liquid which use marketing mix as a tool and
develop their business at rapid level. This assignment includes use of STP, marketing mix at
different levels and management process.
Target Market
Target market refers to aiming of particular customers or consumers in the market. It is
important for the firm to analyse the market in which they want to run their business. With help
of target market organisation easily identify the market as well as customers.(Datta, 2017). This
target market is identified by use of STP approach which refers to Segmentation, Targeting and
Positioning. In context to Fairy Washing Up Liquid they use the STP method so that efficient
market is targeted for the product. Segmentation is used on the basis of demographic variables
such as income, gender, taste etc. Targeting is done on the basis of traits of customers and this
helps in acquiring the right customers. Positioning refers to value of the brand that an individual
have in the mind. The brand has placed its value due to providing good quality of service to the
customers. In relation with Ecover washing up liquid they segment their market into different
parts because of providing varieties of products line. Targeting is done by implementing proper

market research and planning. Positioning of a brand is recognisable by the market and which
results in increased product efficiency.
PRODUCT/BRAND-
Products in the market are heterogeneous in nature and there are various types of
products in marketing. Different organisation use different products and perform as well as run
their business accordingly. (Wu, 2018). Lewitt's model states that categories of product is wider
and customers behaviour depends upon the the types of products in the market. There are
several aspects of this model which are mentioned below-
Need- In marketing, it is important to analyse the need of the business so that all the
activities are performed in appropriate manner. Without the need goals and objectives cannot be
achieved. This helps the firm to allocate all those resources which assists in providing total
satisfaction to both customers as well as firm. In context to Fairy Washing Up Liquid, there
core need is to implement quality of liquid so that everything which needs to be clean is done in
proper manner. In relation with Ecover washing up liquid, there need is to acquire the efficient
manpower so that marketing of product is done in proper manner.
Actual product- Actual product refers to product through which firm is able to gain
more market share growth and profit scale. In context to both the brand, product is in the line of
liquid. Fairy washing up liquid main product is there washing up liquid of bottles. Ecover
washing up liquid focus on their detergents products which are used for cleaning. It is essential
to analyse the actual product of the company so that new strategies and tactics are developed for
the actual product. Also this helps in examining the more new opportunities of the market as
well as product (Jindal, 2020).
Expected products- Expected products are those which is required and expected the
firm in their business. Fairy and Ecover washing up liquid both brand deals in liquid and
cleaning products so their expected product is acquiring of resources and raw materials. These
products are essential to know so that there is optimum use of resources in the process.
Augmented product- Augmented products are are those which are used by the firm to
give additional benefits to the customers by giving discount or ado-ns options in the product
line. Both the brand Fairy and Ecover washing up liquid provide discounts and offers to
customers as well as maintained and manage their customers need and requirements so that
value of the product is increased.(Jain, 2020).

Potential product- Potential product is one which satisfy the needs and demand of
customers in appropriate manner. In context to Fairy washing up liquid, there potential product
is liquid bottle which provide positive outcomes whereas Ecover washing up liquid focuses on
their detergent product which helps the business in profitability as well as sustainability.
After a brief analysis of above model it is stated that to sustain and grow business in
market it is essential that categories of product which give satisfaction to customers and provide
effective output should be identified.
PRICE-
Pricing the product is essential because without a price product cannot be sold. In
organisation there are number of pricing strategies which are used by firm such as Penetration
pricing, economy,price skimming, psychological, bundle pricing etc. In context to Fairy
washing up liquid, they use penetration strategy so that market share is increased. In relation
with Ecover products, they use premium pricing strategy because they introduced new product
every year. So, to maintain their stability they provide line of products and priced high with
good quality as compared to their competitors such as Fairy washing up liquid. It is crucial to
use pricing strategy so that price of product is examined in proper manner. With help of pricing
strategies, business can easily target the customers and their behaviour is evaluated in proper
manner.
PLACE-
Fairy washing up liquid is leading and providing its goods and services across the
globe. It is essential for the firm to identify the place because use of the product is based on
place weather customers have ease access or not. So, organisation target those places where the
need of cleaning liquid is important and customers can easily use the product. In relation
Ecover, they are spreading their product worldwide. Customers demand their product at higher
level because of availability of the product at recognised location. (Davari Farid,2019).
PROMOTION-
In marketing when launching a product it is essential for firm to do the promotion of the
product so that market as well as customers are well aware about the new product. Organisation
uses ample number methods as a promotional tool both online and offline. In context to Fairy
washing up liquid, they use mostly online or say digital platform as promotional tools such as

Facebook, Instagram, E-commerce websites, etc. These tools helps them to advertise their
product at broader and faster level. In relation with Ecover washing up liquids, use both online
as well as offline when they advertise their product. They use these promotional tools at a big
level so that brand awareness is done in appropriate manner. Customers are attracted towards
the product when they see ads and banners around the market and internet. Thus, it is important
for every firm to use advertising as well as promotion tools in proper manner (Marion, 2019).
After a brief analysis of above 4 P's it is concluded that firm should use marketing mix
in proper manner because it is time consuming process and effective decision making is
required. With help of marketing mix, product capability is analysed and new strategies as well
as tactics are implemented.
CONCLUSION
After a brief analysis of above report it is concluded that marketing mix is important
part of business and is to be adopted every organisation. With help of marketing mix firm are
able to achieve the goals and objectives in proper manner. 4 P's which are included in
marketing mix are product, price, place and promotion. Lewitt model play crucial role in
identifying the categories of product. All the stages in four P's play important role because
every aspects contribute to the growth and development of business.

REFERANCES
BOOKS& JOURNAL:
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.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce.Internet Research.
Jindal, P., Zhu, T., Chintagunta, P. and Dhar, S., 2020. Marketing-Mix Response Across Retail
Formats: The Role of Shopping Trip Types.Journal of Marketing,84(2), pp.114-132.
Jain, P. and Jain, J., 2020. A study of Effect of 4 p’s of marketing on the Purchasing Decisions
of the Green Financial Products of Environmental conscious Consumers.Our
Heritage,68(30), pp.920-928.
Davari Farid, R., Azizi, J., Allahyari, M.S., Damalas, C.A. and Sadeghpour, H., 2019.
Marketing mix for the promotion of biological control among small-scale paddy farmers.
International journal of pest management,65(1), pp.59-65.

Marion, G., 2019. Raise your hand if you have never taught the 4 Ps! From marketing
management to practice lens.
Grădinaru, C., Toma, S. and Marinescu, P., 2016. Marketing mix in services.“.Ovidius”
University Annals.
Wang, C. and Parkvithee, N., 2018. The Influence of Marketing Mix on Customers' Decision-
Making for Small and Medium-Sized Chinese Language Schools (SMEs) in Thailand.
International Journal of Management, IT and Engineering,8(4), pp.196-214.