Marketing Mix Strategies Analysis Report: Canadian Tire (MGMT 500)

This report analyzes the marketing mix strategies employed by Canadian Tire, a prominent retailer. The analysis encompasses the four key elements of the marketing mix: product, price, place, and promotion. The product strategy focuses on product positioning for both global and local markets. The price strategy highlights the use of economy pricing for local consumers and premium pricing for the global market. The place strategy discusses direct sales methods for the local market and virtual service distribution for the global market. The promotion strategy examines the use of digital marketing and social media for global promotion, along with sales promotions and personal selling for local interactions. The report concludes by emphasizing the effectiveness of the marketing mix in driving competitive advantages and sustaining market position. The report also references several academic sources to support the analysis.

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Table of Contents
Introduction................................................................................................................................2
Product strategy......................................................................................................................2
Price strategy..........................................................................................................................2
Place strategy..........................................................................................................................2
Promotion strategy..................................................................................................................3
Conclusion..................................................................................................................................3
References..................................................................................................................................4

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Introduction
The marketing mix approach is effective in increasing the demand of consumer for goods and
services. This strategy could entail many factors known as product, price, place, and
promotion strategy. These are discussed below:
Product strategy
The product strategy could facilitate to the organization to launch its products and services in
the particular market. Canadian Tire is using product positioning strategy for both global as
well as the local level to sell their goods in the marketplace, Through this strategy, Canadian
Tire will make the unique image of products among consumers before purchasing the goods.
It will affect the overall outcome of study (Aghazadeh, 2015).
Price strategy
This strategy could allow to the firm for influencing huge number of consumers. Canadian
Tire has practised economy pricing strategy for its local consumer by which firm would offer
its services at a lower cost by minimizing their promotional cost and get higher competitive
benefits. For the global market, Canadian Tire has used the premium pricing strategy by
which organization could offer their services at a higher cost with higher quality, which
would be effective to sustain their business in the marketplace (Homburg, Jozić, & Kuehnl,
2017).
Place strategy
Canadian Tire has practised the direct sales method for their local market by which
organization could contact with their consumers without any intermediates. It could be
effective to solve the consumer query directly and get benefits. For the global market,
Canadian Tire on has used virtual service distribution method that could facilitate to the
organization to entail many sources at the time of distributing goods and services named as
video, email, and phone. It would encourage the consumers for making decision in the favour
of the organization (Bagozzi, Rosa, Celly, & Coronel, 2018).

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Promotion strategy
Canadian Tire uses digital marketing strategy wherein the social media sources has been
considered by the firm to promote their products at the global level. It could facilitate to the
company to directly meet with their consumers and inform them to get higher competitive
advantages in less time and cost. Canadian Tire has used different sources of social media
named as Face book, Twitter, Instagram, and Google that could enable to enhance the
awareness of goods and services among consumers. This strategy increases the possibilities
of sustaining the business in the marketplace. At the local level, this organization has used
sales promotions and personal selling method for interacting with their consumers and
encouraging them to purchase products and services (Kotler, Keller, Ang, Tan, & Leong,
2018).
Conclusion
With respect to the above interpretation, it can be considered that the marketing mix is an
effective promotional tool for the firm as it allow to use different strategies related to product,
price, place, and promotion and get competitive advantages. For sustaining their position in
the market, this organization has delivered many products that are demanded in the market
named as automotive parts, financial services, sporting goods, clothing hardware, home
products, and toys. These products have directly affected to the productivity of firm because
these products and services are promoted by the marketing mix strategy.

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References
Aghazadeh, H. (2015). Strategic marketing management: Achieving superior business
performance through intelligent marketing strategy. Procedia-Social and Behavioral
Sciences, 207, 125-134.
Bagozzi, R. P., Rosa, J. A., Celly, K. S., & Coronel, F. (2018). Marketing-Management.
Walter de Gruyter GmbH & Co KG.
Homburg, C., Jozić, D., & Kuehnl, C. (2017). Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science, 45(3), 377-401.
Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2018). Marketing
management: an Asian perspective. Pearson.