Contemporary Marketing Issues and the Enterprise Rent-A-Car

This report provides an analysis of contemporary marketing issues, focusing on the application of the marketing mix (4Ps) to Enterprise Rent-A-Car. It begins by defining marketing and the marketing mix, then introduces Enterprise Rent-A-Car as a case study. The report examines how Enterprise Rent-A-Car utilizes the 4Ps – product, price, placement, and promotion – to reach its target market and maintain a competitive edge. It discusses the company's diverse vehicle offerings, pricing strategies, distribution channels, and promotional activities, including loyalty programs and referral schemes. The analysis concludes that a well-defined marketing mix is essential for business success, enabling companies to engage customers, generate revenue, and adapt to changing market dynamics. The report emphasizes the importance of aligning marketing efforts with customer needs and preferences to achieve sustainable growth.

Contemporary issues in
marketing

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
An explanation of marketing.......................................................................................................1
An explanation of marketing mix................................................................................................2
Introduction of Commodity or service........................................................................................2
Application of 4Ps marketing mix to the selected product and service.......................................2
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
The concept of marketing mix pertains to the various methodologies, schemes and
instruments that are employed for reaching out to possible customers and provide thrust to sales.
A sound marketing mix scheme encompasses wide ambit of plans in order to gain the share in a
particular market in addition to evolve the image of the brand to acquire new customers. In a
scheme of marketing or the course adopted by the business for advertising, the marketing mix
outlines all the things that could sway the market which is targeted in conjunction with
harmonizing the different things in order for them intensify reach.(Stead, and Hastings, 2018).
The present day issues related to marketing are impacted by the modification in economic
practices globally. The manufacturer has to be sensitive to what the people are demanding and
put their product across to the consumers in a way that induces them to buy from that particular
manufacturer. Innovation in advertising such a targeting particular consumers can have a lot of
benefits to a company. The Enterprise Rent-A-Car is a company which gives their cars out on a
temporary lease. It was established by Jack Taylor in St. Louis in the year 1957. When he
started the business all he had was 7 cars and faith that there is tremendous demand for auto
mobiles which are needed by the people on a temporary basis.
MAIN BODY
An explanation of marketing.
Marketing refers to the procedure of acquiring possible clients involved in the
commodity or service that a particular company is offering. The procedure refers to conducting
research, promotion, sales and distribution of the companies commodity or services. The
particular field has a focal point assessing the demeanour of the clients and of the market for
being able to involve, get and maintain the customers through the method of fulfilling their
preferences and inoculating allegiance toward the brand.(Kim, and Kim, 2018 )Without
marketing people don't get to know about the range of commodities or services that the
enterprise has on offer. An Impelling marketing scheme turns mere commodities into well
recognised brands.(Benar, and Goharostami, 2019.)
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An explanation of marketing mix
Marketing mix contains various areas to focussed upon to develop a across the board
marketing plan. The concept is refereed in context of the four P's product, placement and
promotion. In order for the marketing to be efficacious, the scheme has to account for a wide
ambit in contrast to dwelling on single message. Such technique aids in reaching a broader
audience. With the assistance of the four P's the people practising the vocation of marketing are
able to keep their focal point on the issues which are really important. By keeping the marketing
mix in their cross hairs an enterprise can make well though decisions when they are seeking to
roll out new commodities or if they want to revise pre-existing products.
Introduction of Commodity or service
The commodity and services offered by the company form the vary basis upon which
any company seeks to function. Commodities are the tangible items which can be consumed
while services are intangible and are a result of work done by an individual. If the company
wants to achieve economies of scale they need to mass produce the commodity and accordingly
distribute and promote it to cut down on costs. To sell a product a company needs to have a
unique selling point due to which their commodity or service is differentiated from others like it
and due to which it can gain an edge over the competition. Sometimes a commodity may cost
more or less than the value it serves in the minds of the consumers, if it costs less than the
company can bank huge profits. however if it costs less then the company needs to effectively
publicize the commodity or service in order to persuade the consumers that their commodity or
service is worth paying that extra price.(Mix, 2022) Enterprise Rent-A-Car gives consumers the
oppurtunity to rent a vehicle locally or at an airport, and offers different types of vehicles such as
saloon cars, vans , minibuses and distinct cars. The company offers high quality checked
vehicles due to which the brand has been able to crystallize its position as leader in the market of
car renting .
Application of 4Ps marketing mix to the selected product and service
Marketing contains four main sub parts which need to focussed on by the company, they
are price product, placement and promotion. In order to reach their target market the company
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needs to keep their focus on these items as they decide what path the product will take and what
kind of revenue it will generate. A commodity or service may serve tremendous value to the
customers at a very reasonable price but if these four things are ignored then the company is very
likely to generate absolutely no revenue from that commodity or service.(Nguyen-Viet, 2022.)
The marketing mix relates to acts and resolutions to satisfy the preferences and the wants of the
consumers. Effective marketing aids the businesses in determining the demands and fulfilling
them whilst keeping the revenue generation as a priority. In the context of Enterprise Rent-A-Car
,the marketing mix scheme is provided below.
Product
The refers to the nature of the commodity or service offered by the company and how the
customers will be able to benefit from it. To be able to run a successful marketing campaign it is
essential to distinguish it from other brands. As sufficient distinction will result in the customers
getting interested. The peculiarity of features and their use in by the customer are highlighted in
this part. The aesthetics of the commodity, its size and colour etc.
Enterprise Rent A car has huge variety vehicles they have for renting purposes. It
encompasses locally renting or renting at airport, these vehicles come with array of features such
as climate control and entertainment in the car such as radio and speaker system. The company
offers different types of vehicles such as mini buses, vehicular sharing , unique cars for hire such
as limos and vans. Enterprise is a subsidiary of St.louis situated Enterprise holdings which also
operates Alamo Rent-A-Car and national car rental among other brands. It also provides very
specialised vehicle. The enterprise rent a car has solidified its position as the one of the largest
transport solution provider . When it started it merely had cars in the double digits whereas
presently it operates more than a couple of million vehicles in nearly eight thousand locations
which spans across the continents in exceeds nearly one hundred countries.
Price
This part is concerned with what the clients would be okay with paying for the particular
commodity or service. The businesses need to account for the various costs that were incurred by
the business to produce the commodity or service such as the cost associated with developing
and researching, cost to manufacture, market and distribute, this type of pricing is called as cost
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dependent pricing. The price which is derived from the value which the clients wants to pay or
what they think it should be worth is known as value dependent pricing. Moreover the company
needs to consider the specific market to gather if the customers will prefer another product if the
cost is higher, the discounts or offers which could be provided based on fulfilling certain
conditions.(de Oliveira Rodrigues, 2021.)
Enterprise Rent-A-Car adapted its pricing according to the competition, they wanted to
make sure that they blow the competition out of the water by offering low prices, moreover the
quality of service and the products offered by the company are unmatched by any other
company. Moreover the company uses differential pricing strategy which is normally used by the
airline to make sure they earn maximum profits while not compromising on the quality of the
service they provide. The cost which if factored into consideration while quoting a price to the
customers are the the maintenance cost, insurance costs, the cost of workers and infrastructure,
and the cost of the vehicle.
Placement:
The area in which the product will be circulated, the logistics of how it will be delivered
are if it is sold online or in a store. considered under the placement heading. Some goods are of
the nature which could be placed in any store whereas some goods are superior in quality which
can only be put up in certain stores. How the different distribution channels could be accessed.
The competitors need to be looked at in order to gather what the best practice would be to create
conducive outcomes for the business.(Sharma Kaur, and Syan 2021.)
Enterprise rent a car has its services on offer across the united kingdom, Ireland, Spanish
territories, French territories, the united states of America and the Canadian province. Moreover
it maintains presence in over eight thousand locations in nearly all the continents which spans
over nearly one hundred countries. It has nearly one hundred thousand employees which are
responsible for running nearly ten thousand different branches all over the world.
Promotion:
In this area various activities such as adverts, public relation and analysis of data is done.
According to the resources assigned to marketing mix the company needs to move forward. The
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professionals need to cautiously build a narrative which consist of the details from the product
placement and price headings while trying to get to the specific audience. It needs to be analysed
what medium such as radio, television, internet or public relations would be appropriate and get
their message across effectively and efficiently. Other than the method it needs to be looked at
what time would be best to promote a particular product if the commodity or service is season
sensitive, for instance hospitality industry could promote their services best around the holiday
season since at that time people are most likely to visit their hotels. Moreover the methods
employed by the competition while promoting their commodity or services needs to be looked at
to get a better picture of how the companies own promotional activity will play out. (Sisodiya,
and Sharma, 2018.)
The enterprise rent a car provides its customers with various lucrative offers and deals to
maintain their loyalty and gain new customers. They have points base system somewhat similar
to the airline system in which if a person uses their cars for certain miles then they can get
certain amount discounted from the total price. In addition the customers get offers if they pay in
advance or cancel in advance. The company has a leading cancellation policy in which they
return nearly all the amount to the customer in case they have had to cancel the trip due to certain
exigencies. Moreover the company also provides membership to the people who use their
services on a regular basis and gives out certain specific customers discounts for their loyalty.
The company also employs certain coupon and referral schemes due to which they customers can
earn certain miles if they refer the services to new customers.
CONCLUSION
From the above analysis it could be concluded that The concept of marketing mix
pertains to the various methodologies, schemes and instruments that are employed for reaching
out to possible customers and provide thrust to sales.(Pedersen, and Williams, 2021) In a scheme
of marketing or the course adopted by the business for advertising, the marketing mix outlines all
the things that could sway the market which is targeted in conjunction with harmonizing the
different things in order for them intensify their reach. (Tang,and Mesfin, 2020)The marketing
of a product is essential for the survival and thriving of any business it makes the customer
actively engage with their products and service, the above report gives an account of what is
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needed out of the company to satisfy the various demands of the consumers while keeping their
revenue generation object in mind. The four P's which needed top be heeded to by any
successful business are product which determine the kind of product or service the company
wants to provide. The price is determined through the apparent value the company had to invest
while making the product and the value that it holds in the eyes of the consumer's mind. The
placement decides the geographical locations at which the customers is most likely to demand
the commodity or service which is on offer by the the company. The promotional aspect aids in
engaging the customers in a manner which is constructive and makes revenue generation
relatively easier for the company.
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REFERENCES
Books and Journals:
Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance
right. In Social Marketing (pp. 29-43). Psychology Press.
Kim, M.S. and Kim, J., 2018. Linking marketing mix elements to passion-driven behavior
toward a brand: Evidence from the foodservice industry. International Journal of
Contemporary Hospitality Management, 30(10), pp.3040-3058.
Nguyen-Viet, B., 2022. The impact of green marketing mix elements on green customer based
brand equity in an emerging market. Asia-Pacific Journal of Business Administration.
Mix, A.P.M., 2022. BAB III MARKETING MIX. Manajemen Pemasaran Hasil Pengelolaan
Bank Sampah Melalui E-commerce, p.81.
Sharma, R.R., Kaur, T. and Syan, A.S., 2021. Sustainability marketing mix. In Sustainability
Marketing (pp. 147-161). Emerald Publishing Limited.
Sisodiya, P. and Sharma, G., 2018. The impact of marketing mix model/elements on consumer
buying behaviour: A study of FMCG products in Jaipur City. Int. J. Tech. Res. Sci, 3,
pp.29-31.
Pedersen, Z.P. and Williams, A.S., 2021. Marketing mix. In Encyclopedia of Sport
Management (pp. 302-303). Edward Elgar Publishing.
de Oliveira Rodrigues, D., 2021. Marketing-Mix Metamorphosis and New Trusted Business
Practices. In Competitive Drivers for Improving Future Business Performance (pp. 46-
66). IGI Global.
Benar, N. and Goharostami, H.R., 2019. The Effect of Green Marketing Mix on Word of Mouth
Advertisement with the Mediating Role of Brand Love and Brand Loyalty.
Tang, Z.Y. and Mesfin, H., 2020. Research on the Effect of Marketing Mix on the Competitive
Advantage: A Study of Selected Small and Medium Enterprises in Bole Sub City, Addis
Ababa, Ethiopia. International Journal of Management Science and Business
Administration, 7(1), pp.15-28.
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