Report on Contemporary Marketing Issues and Marketing Mix Strategies

This report explores contemporary issues in marketing, focusing on the marketing mix (4Ps) and its role in addressing challenges faced by businesses today. It uses Enterprise Rent-A-Car as an example to illustrate key concepts such as product, price, place, and promotion. The report emphasizes the importance of marketing in maintaining a company's reputation and driving revenue generation. It discusses how effective marketing strategies, including digital promotion and celebrity endorsements, can create buzz and attract customers. The analysis highlights the need for companies to adapt to market trends and competition by adopting innovative marketing techniques and leveraging various promotional channels to establish a strong market presence and customer base. The report concludes that a well-implemented marketing mix is crucial for achieving business objectives and ensuring long-term success.

Contemporary issues in
marketing

Table of Contents
INTRODUCTION ..........................................................................................................................2
MAIN BODY ..................................................................................................................................3
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is an advertising process which enables a company to introduce and promote
its product in the market. In other words , marketing is a tool which is designed by the company
to outlines and implement the marketing strategies with the view to introduce their product and
services in the targeted market. For an effective marketing a detailed process, measures and
strategies needs to be adopted which is known as marketing plan. Considering the present
business scenarios there is a lot of competition prevailing between rival companies and
encouraging promotion of their product and services to strive their business and market. There
are instances, where businesses faced huge loss due to poor marketing. Marketing is inevitable in
the contemporary business world because it maintains the presence and reputation of business in
the market (Behúnová and et.al., 2023). An Enterprise Rent-A-Car is taken to support this report
as an illustration to understand the the marketing process and its impact on business along with
different concepts of marketing mix.
MAIN BODY
A preposition of marketing
Market is a space where activities of buying and selling of products is practised. Buying
and selling is an activity which makes a market vital and active. Marketing is procedural and it
needs to be followed with proper strategies and measures. A company must ensure the market
stability and trend before initiating marketing process. Every company has its separate marketing
department which looks company marketing business (Georgsdóttir Velander and Raun2021).
Separate funds are allocated to marketing department for ensuring effective marketing of a
company. A team of experts are hired for managing the entire marketing operations. A giant
reputed business organisation always pursue the best marketing strategies to promote company
and products. Marketing strategies includes , celebrity endorsement, digital promotion , event
protomoon etc. these measures helps in elevating the reputation of a company by creating buzz
about the new launching. Marketing is a constant process in which every big organisation invest
huge money to maintain the company's reputation. Company is known for its products and
services , therefore it is significant to for a business to offer best market segment product and
services to attract the customers to buy at reasonable price. Commercialization of a product or
service is marketing (Efanny and et.al.,2018). A huge money is invested for marketing of

product or services. Thus, marketing is an inevitable part of business and it needs to be
implemented effectively to attain the objectives.
Marketing Mix
Marketing mix is the collection of 4P's, which are considered important factors of
marketing.. the concept of marketing mix emphasized on product or services and the customer
preference and consumer expectations. Marketing mix assess the market gaps and explores
different routs which helps to perceive a product or service in market. It also assess the
performance of a product or service.
A hypothetical explanation on marketing Mix
There are several important facets involved in marketing mix which are essential to
initiate the process of marketing. It includes market research, product research, market trend,
new arrivals, product performance etc. the notion of marketing mix is to exemplify and
demonstrate the ways of advertising which a company may adopt for attracting customers.
Marketing department explores the targeted market and conduct research and study on such
market to establish the opportunity to gain benefits against their rivals. Marketing mix approach
enables the company to make strong market base by triggering relevant factors of 4P's.
Application of these factors in marketing supports the products or services for easy penetration in
the market. The objectives behind marketing is to improve commercial activities of a company
to enhance the market value of the company (Subram Khan and Srivastava2018).
Marketing mix facilitates in determining the value of product and its price at which a company
will offer to its customers. At the stage of marketing a product is partly introduced to create buzz
and curiosity in market. People tend to excite at unveiling a new product in the market. Digital
media is the best medium at which companies provides information about the product. A
company invest huge money to accelerate the marketing and creating the buzz in market. This
stage takes time before official launce of a product during this period company analysis and
observe the market response towards its product.
Introduction to product and services
For a company, its product or services are its essential sources for generating revenue. A
company invest huge capital to install the production and manufacturing units , assets and
employ employees to function the unit. It requires planning and strategies to go ahead with the
manufacturing process.. products are the commodities which has a shape and existence and it

requires raw material to bring the final shape of a product. Whereas, services is the system which
develop to assist public such as , transportation, communication, education etc. A company who
offers services or product needs to reach market to reach its product or services to consumer.
There are various business organisation which has a rich history in business and are doing well
and has reached their business at global stage. A reputed company always concerns about the
company's market value and its product outflow because of tough competition and rivals exiting
in the market. Therefore, a company needs to adopt effective measures and strategies to maintain
stability and strong base in market to fight the rivals and this can only be possible by constant
adoption of marketing mix. Similarly, for Enterprise Rent-A-Car required to adopt best
marketing techniques to highlight the company in market (Mothersbaugh and et.al,.2020). It
needs to follow all the essential factors which are described by the 4P's of marketing mix.
Following are the important factors of marketing mix:
Product: A product or service is a commodity which the company offers in the market for
consumers needs. Each product has a certain value which the company decides after determining
the all the cost of which took to built develop such product. A final price is the market value
which a customer has to paid for purchasing the product. Product or service are the commodities
they are different in nature but has constant demand in market. A product includes, everything
which has certain value in monetary terms and which has a shape, which can be touched or seen.
For example, cloths, car, mobile phones, furniture etc. are the products which are available in
abundance in market (O’Sullivan and Ngugi 2022).
In context of Enterprise Rent-A-Car, it is car service provider which offers rental car services
with or without driver. Its services includes, airport rental service, minibus services, taxi service,
private taxi service, etc. Enterprise Rent-A-Car is a UK based company situate in ST. Louis in
London. Along with rental services it also offers vehicles are customised as per customers
preference. Enterprise Rent-A-Car is one of the leading car rental service provider which
operated across the world. It has begin its services with just seven cars locally and present status
of a company is impressive, it has developed its market and business. Enterprise Rent-A-Car has
assets worth of 2 million and actively operating in almost hundred countries.
Price: Price signifies the final or market value of a product. Price is one of the most essential
factor of marketing mix. Price is the face value of the product. A company determines the price
of its product after calculating the manufacturing and other costing in developing the product. A

price should be reasonable and consumer friendly and should match the product quality. A
company needs to offer certain schemes and offers like discount coupons or cashback system to
attract the customer (Parra-López and Martínez-González2022).
In case of Enterprise Rent-A-Car, it offers great service to its customer, mostly a customer is
satisfied with their services and assistance. Company has made huge customer base and
operation across the world , it makes clear how effective it had maintain its market and expand
its business . Price factor is less likely to affect the Enterprise Rent-A-Car because has a certain
class of customers. It offers luxurious car services which are not affordable by certain class of
people. However it has managed to run its business and successfully established market presence
around the world.
Place: place in marketing signifies the origin of a product or service where its creation is done
and from there it reach to customers. Its a process where a product is move from its origin to
market. In a business location plays very crucial role the location of store should be at foot
falling place where consumers can easy access and check the product (Pavithra and
Pushpanathan 2019).
In case of Enterprise Rent-A-Car, it has world wide presence, it is actively operating in almost
100 countries which is evident enough to understand the success and market capture. The
company has adopt effective marketing strategies which has enables the company to established
popular identity across the world.
Promotion: it is the last and very important factor of marketing mix. Promotion is a process
which an organisation conducts for promoting its product or service. A Company invest big
amounts promoting its product. There are various modes of promotion which a company adopts
to make its product popular in market. A company does effective promotion by way of celebrity
sponsorship, digital promotion, hoardings, promotion on television etc. a promotion must be
effective and compelling which can create the buzz among the consumers. By way of
promotion , a company can bring attention of people towards its product. It is a effective tool
which if implemented nicely can bring positive output to the company and company can make
huge profits in success of a produce (Rauschnabel and et.al2022)t. Considering the market
competition and rivals companies tend to invest more on promotion. Promotion is an important t
part of a marketing which helps in elevating the reputation of a company.

In the same way, Enterprise Rent-A-Car, needs to adopt best marketing strategies to
promote its services. Enterprise Rent-A-Car should make tie ups with hospitality industries
because it offers its service to customer who visits in hotel. It should associate with other travel
companies who offers rental services or travelling packages. By adopting this measures a strong
network will be develop along with strong customer base. Enterprise Rent-A-Car should promote
its services at different potent social media sites. It should create its own digital portal where
customer can direct make connection with the company to buy services. In this way Enterprise
Rent-A-Car by way of promotion can elevate entire business and make strong market presence.
CONCLUSION
From the above extract, it can be concluded that marketing plays very crucial role in
maintaining the company's reputation. Marketing enables company to expose its product with the
customer by adopting different modes of marketing , such as social media, television , hoardings
etc. this report has covered all the essential factors and facets of marketing mix which includes,
product, place, price and promotion. Marketing is a effective tool which has proved its output
when implemented with due care and cautions. It indirectly benefits the business to increase its
revenue generation and market presence.

REFERENCES
Books and Journals
Behúnová, A and et.al., 2023. Relationship Marketing: A Modern Marketing Strategy as a Tool
to Increase the Competitiveness of the Company in the Market. In 6th EAI International
Conference on Management of Manufacturing Systems (pp. 241-255). Springer, Cham.
Efanny, W and et.al.,2018. The relationship between marketing mix and retailer-perceived brand
equity. IMP Journal.
Georgsdóttir Velander, M. and Raun, S., 2021. Expanding the classic marketing mix towards
sustainability: How internationally operating SMEs in the fashion industry can expand
their marketing mix.
Hasan, A., Consumer Behavior dan Marketing Mix. Bina Ekonomi, 9(1), p.12996.
Mothersbaugh, D.L., and et.al, 2020. Consumer behavior: Building marketing strategy. New
York, NY, USA: McGraw-Hill Education.
O’Sullivan, H. and Ngugi, I., 2022. Marketing Mix. In Encyclopedia of Tourism Management
and Marketing. Edward Elgar Publishing.
Parra-López, E. and Martínez-González, J.A., 2022. Service Marketing Mix. In Encyclopedia of
Tourism Management and Marketing. Edward Elgar Publishing.
Pavithra, S. and Pushpanathan, A., 2019. Green marketing mix as a strategy to improve
competitive advantage.
Rauschnabel, P.A.,and et.al., 2022. What is augmented reality marketing? Its definition,
complexity, and future. Journal of Business Research, 142, pp.1140-1150.
Subram, K.S., Khan, M.N. and Srivastava, C., 2018. The Impact of Marketing Mix Elements on
Brand Loyalty: A Case Study of Construction Industry. Sumedha Journal of
Management, 7(3), pp.77-98.