Contemporary Issues in Marketing: The Marketing Mix Analysis

This report delves into the nature and importance of the marketing mix within the marketing process. It begins with an introduction to marketing and the marketing mix, highlighting its role in promoting products and services. The report then provides a detailed explanation of the 4Ps of marketing – product, price, promotion, and place – and their significance in meeting customer needs. The main body includes a hypothetical example of the 4Ps marketing mix. The report uses Enterprise Rent-A-Car as a case study to apply the 4Ps, examining its product offerings (rental cars), pricing strategies, promotional activities, and distribution channels. The report concludes by summarizing the key insights and emphasizing the marketing mix's role in achieving business objectives, such as customer satisfaction and profitability.

Contemporary Issues in Marketing
Title:
The nature and importance of the
marketing mix within the
marketing process.

Table of content
Introduction
Main Body
An statement of marketing
An statement of marketing mix
A brief hypothetical explanation of 4Ps marketing mix
Introduction of product and service
Application of 4Ps marketing mix to the selected product and service
Conclusion
References
Introduction:
Marketing mix is the basic structure for starting a business, it is also a process which is deals

with the areas of focus in the plan of the marketing. Effective marketing touches a broad range as
sticking to fixation on one message. It oblige to control marketing of imitative in terms of price,
product , promotion and place which offers to meet the desired demand of a customer in particular.
Marketing is an important tool which is useful in promoting an item to the buyers in the market.
There are certain issues faced during promoting the product is that to understand the requirement of
the local customer regarding the item. (Rust., 2020.)The contemporary marketing issues affect on
change in global economics. The manufacturer is offering and influencing the customers to
purchase an individual item, by observing the people regarding their needs in the totally. There are
set of rules and regulations, activities and plan of action are maintained by the organisation to
successfully promote the product and the services in the market. Enterprises Rent- A-Car is a
executive leasing company, and the founder is Jack Taylor at St. Louis in 1957. He started this
business with a belief that the public will give a positive respond to the concept of hiring auto
mobiles and in the beginning he just had 7 cars to give the shoppers.
Main Body
An statement of Marketing:
Marketing is refer to the set of activities that under takes to promote the buying or selling of
a product or services by a company. It also relationship that this maintained by the organisation
between the client and the retailer. Marketing is determined in advertising, selling and delivering of
the product to consumer and the other business. This is also responsible for searching, anticipating
and observe the requirement of the customer with the profit. The modern marketing gas two
different meaning according to the people, who use the particular term in majority. The first
meaning explains the importance of marketing in selling, promoting and encouraging the person
always is viewed and discussed as business activities.(Quach, et.al., 2020. ) Secondly, the success of
the company is reliable on the identification of the customers need, developing good products,
pricing , distributing and motivating the customer to effectively use and buy the product. Without
promoting the item in the market people will not be aware about the production of the product. The
plans of marketing should be made effectively that the name of the brand is know to every
individual in the society.
An statement of Marketing mix:
Marketing mix is know for planning the promotion of the product in multiple areas of

direction, and it a complete part of marketing plan. The basic structure for the marketing is
classification that are price, product. placement and the promotion. It is useful in the upliftment of
the product and the services provided by the organisation in the market and sell it. It can be
influenced but depends on the exterior and the interior environment in order to meet the needs and
demands of the buyer, the company uses many different marketing strategies.(Ferrell,., 2021. )
A academic brief explaining the 4Ps of marketing mix:
These are the major sources that are involved in the marketing of the goods and the local
services. The factors included in the same are price, place, product and promotion of goods and
services, these are explained as the internal and external factor in overall business environment. The
mentioned sources all in totally are enough in for a company to fulfil the requirement and desire of
the customer. They are the blueprints which guide in making plans for marketing, these are also
described as the conceptual planning that permits the producer to identify the requirement and the
choice of the consumer. The cost should be compatible with the placement of the product.
(Lahtinen,.2020 )Effective marketing mix help in creating a strong bond of chain between the
customer and producer. It even guides the company to built a combination of thoughts and items
that will wisely manage the organisational planning to complete the production of the required
goods in the market. A product is something which is offered by a company to fulfil the needs of the
customer and their desire. Product is further explained in two categories that are goods and services.
In this goods represents as the tangible products and the services represent as intangible products.
Price is the monetary values of the products offered by the company. Marketing mix help in
determining what offers can be made to the customers, at what price to be sold and how and where
to attract the buyer.
Introduction of product and service:
Product and services are two major factors in any business, they play a crucial role in the
growth of the business in the market. The product is considered as a tangible item which is
displayed in front of the customers in the market for getting the attention of the buyers. Where as,
the service is an intangible item that arises from the output of the different individuals. The
company usually adopts mass production, promotion and distribution to achieve higher economics
of scale, lower production cost and achieve profitability. Each company makes its own different
selling proposition to meet the customer needs and unique manner to make the product available in
the market. Price is associated with the perceived value by the customers, the cost of the item
should in proportion to the value of the product. The promotion of the goods should be in such as a

manner that the item should out stand from the other products in the market and are the most correct
choose. The main decision is that where the product should be sold and how to be made available to
the customers in the best managed manner (Shokrani,., 2019.).
Enterprises Rent- A-Car offers the clients with rental cars for local and airport facility, the
company even provides sharing of vehicles, van and car hiring. It even provides business solution
for any sort off technical issues faced by the clients and minibuses. This brand was developed as a
worldwide leader in the car rental business.
An application of 4Ps marketing mix to the selected product and service:
As explained earlier, marketing is all about pricing, distribution, product and plan for
promotion of an organisation in order to establish or carry out and achieve the targeted market. The
marketing mix is interlinked with both action and the solution for fulfilling the requirements of the
customers needs and desire. It works as a helper in the business professionals to analyse what are
the demands of the customer and the what they require from the company and what steps to be
taken to fulfil the needs and demands of the clients. In relation with the Enterprise Rent – A- Car, its
marketing mix plans focus on following subheads which are:
1. Product: It is a good and services that the company offer to the customers. A product
should fulfil the demand of the customer and the choices for which they are willing to pay.
These are involved with goods and services that includes materials like clothing, grocery
items, furniture, services. Concept of goods are broad and it just not only include natural
items but even includes the people, experience, places, business information and many
more. (Purohit., 2021)Enterprises Rent-A-Car provides with a large variety of the cars for
rent. It includes local and airport rental services, temperature controlled vehicles, accessible
minibuses, sharing of the motor vehicle, car and van hiring. The enterprise is a part of a St.
Louis based holding which also operates the Alamo Rent-A-Car brands and National car
rental. It even provides specialised comfortable and luxurious cars including SUV'S,
HGV'S. This is the biggest organisation working as the transportation solution supplier in
the world. The business was started with only seven cars in the beginning in St. Louis and
now it has a collection of more than two million transport in over 7900 locations in 100
countries.
2. Price: It is considered as the key element in marketing mix because it dictates a company's
survival and profit earned. This is the consideration that the company gets in return of their

services provided to the customers. The price showcase how much profit does the company
earn will selling the product to the clients. The pricing of the product, the marketing cost
and the expense required to distribute the product should be kept in the mind of the
company. There should also be the idea of the product of the opposing party in the market
for the same business. The price kept by them is reasonable to the product offered to the
clients, so that more (Lahtinen,.2018,)people are able to use the item available in the
market. Enterprise Rent-A-Car approaches to the pricing was based on competition as it
was necessary to the grocers. This company is ensure that price never become a reason for
customers to choose any other company for rent car. So, the company is using top class cars
and offer high satisfactory price for the services. This cost is include the maintenance cost,
labour cost and machine cost
3. Promotion: It is another P in the 4p's of the marketing mix, it is one of the essential
element in the company, as the promotion of the product will determine the usage of the
product as more the promotion of the item, more will be the selling as the society will get
aware about the new product in the market. There are various ways in which the promotion
can be done by the company, that are by digital marketing, putting banners, selling the
product straight forward. The promotion of product should be done at the right time and
place where people will be willing to purchase the items. Enterprise Rent-A-Car give the
many deals, promotion and provide travel partners on car and van hire. It gives the many
rewards when hire a car with this and use one of the high rated travel partners. Travel
partners are helpful in the earning miles, points and more after hiring a car. Travel partners
are flying blue for me, Marriott rewards and Virgin Atlantic flying club. It gives an offer for
example save 10% when pay which means that pay for cars in advance and save 10% and it
can get cancelled for free up to 3 days. It also gives the car club membership and provide
5% discount for club members. It provides many deals such as Email offers and tips for
getting the lowest prices on car and van rentals.
4. Place: This is one of the most important factor in the determination of the marketing mix
and it is called as the distribution. It is a way of providing the customers their product and
the services. It is the area where the product is manufactured and than dispatched to the
customers. Enterprise Rent-A-Car offers its service in entire UK and also provides their
services in Ireland, Germany, France, Spain, United State and Canada. It provides there
services over 7900 locations in 100 countries. It has employees more than 100000 people
which operates more than 10000 branches in worldwide. It is provide car sharing and offers

hourly car rentals.(Filbert., 2018.)
Conclusion:
From the above report, it is understood that the marketing mix helps and guides the
company in its working manufacture. Its objectivity is to fulfil the requirements and the desires of
the customers. It is important for an organisation to provide the goods and the services to the clients
on time, with reasonable pricing of the item. The implementation of the 4Ps, will increase the
production of the product and will give a growth in the business. Therefore, it is concluded that the
marketing mix is an essential element of marketing that plays a major role in the development of the
business.
REFERNECES

Books and Journals
Rust, R.T., 2020. Outside-in marketing: Why, when and how?. Industrial Marketing Management,
89, pp.102-104.
Quach, S., Thaichon, P., Lee, J.Y., Weaven, S. and Palmatier, R.W., 2020. Toward a theory of
outside-in marketing: Past, present, and future. Industrial marketing management, 89,
pp.107-128.
Ferrell, O.C., Hartline, M. and Hochstein, B.W., 2021. Marketing strategy. Cengage Learning.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix. Testing the
effectiveness of the commercial marketing mix in a social marketing context. Journal of
Social Marketing.
Shokrani, M., Haghighi, M., Paricheh, M. and Shokrani, M., 2019. A comparison of statistical and
decision-making techniques in marketing mix evaluation. Journal of Management
Development.
Purohit, S., Paul, J. and Mishra, R., 2021. Rethinking the bottom of the pyramid: Towards a new
marketing mix.Journal of Retailing and Consumer Services,58, p.102275.
Lahtinen, V., Rundle-Thiele, S. and Dietrich, T., 2018, May. An Abstract: Do We Need to Imply a
Full Mix? 4P Versus 1P. In Academy of Marketing Science Annual Conference (pp. 445-
446). Springer, Cham.
Filbert, A. and Anthony, W., 2018. The Impact of Marketing Mix of 4Ps (Product, Price, Place, and
Promotion) towards Repurchase Intention with Customer Satisfaction as the mediator: In
the Case of Uniqlo. iBuss Management,6(2).