Contemporary Issues in Marketing: Enterprise Rent-A-Car Case Analysis

This report explores contemporary issues in marketing, focusing on the concept of the marketing mix and its application within the context of modern business. It uses Enterprise Rent-A-Car as a case study to illustrate the practical implications of the 4Ps of marketing (Product, Price, Promotion, and Place). The report details how Enterprise Rent-A-Car has utilized these elements to establish itself as a leading transportation solution provider, highlighting the importance of understanding consumer behavior, market dynamics, and strategic planning in achieving business success. The analysis covers the company's product offerings, pricing strategies, promotional activities, and placement decisions, demonstrating how each contributes to the overall marketing effectiveness and competitive advantage. The report concludes that a well-executed marketing mix is crucial for business growth and customer satisfaction, especially in addressing the contemporary challenges of the marketing landscape. Desklib provides access to this and other solved assignments to aid students in their studies.

Contemporary Issues
in Marketing

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Concept of Marketing..................................................................................................................1
Concept of Marketing Mix...........................................................................................................2
Brief Explanation of 4Ps marketing Mix.....................................................................................2
Implications 4PS of Marketing Mix in selected Enterprises.......................................................3
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing is an activity, which company perform to promote their product and services.
Through marketing company will get the position in the market as, their product and services are
known by the customers. Marketing is done through; advertising, promoting, selling product and
provide services to customers and to others. It is not an easy process to perform, it require
efforts, patience and most importantly financial sources. To do the marketing, company faces
many issues, these issues are as a result of changing in global economies and it is known as
contemporary issues. These are such issues which restricted companies to perform the marketing
activities and harms the companies operation. In this report, marketing process will be discuss in
the context of contemporary business and the concept of marketing mix will also presentable in
this report(Chakraborty, and Jha, 2019). To understand the concept of marketing and issues
related to it, an enterprise is taken which is an executive leasing company of a car name as
“Enterprise Rent-A-Car, founded by Jack Taylor at St. Louis in 1957. In the starting of an
enterprise they have only 7 cars but, they had a belief in their plan and ideas of providing rented
cars for the people which helps them in their movement.
MAIN BODY
Concept of Marketing
Marketing is an activity which companies are using to do the publicity of their
manufacturing products and services they provide in market. It is a process of making companies
product and services available to every customer and to make the products and services popular
and known to each and everyone in a market. It can be done through; advertising, promoting,
selling etc. Through concept of marketing, companies will get to know about consumer's
behaviour and their requirements. Every private company whether it is small or big, strong or
weak, they usually prefer to do advertising of companies product. It is really helpful for new
start-ups to introduce their products and give their presence in the competitive market.
Nowadays, when there are so many branded companies and even they are doing marketing of
their products and services it means, this process would really help them to
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grow(Ergashhodjaeva, 2018). So, to make themselves grow in a market and be a competitor of
big enterprises, even small companies are performing this process of marketing.
Concept of Marketing Mix
Marketing Mix is a set of actions or strategies, which companies use to endorse their
products and services in the market. In the concept of marketing mix various stages are included
which would get done by the companies to make their product & service valuable and attractive.
In Marketing Mix process generally there are four Ps, which is related to Price, Product,
Promotion and Place. However, these days this concept of marketing mix is expanded day by
day and more Ps are getting involved such as; Packaging, Positioning, people and even politics
can be taken in this process.
Brief Explanation of 4Ps marketing Mix.
Elements of marketing mix influence each other. They helps companies to make plans
and also handled it effectively, which gives success to the company. However, if these elements
were not used properly according to the plan then, it would give a failure to the company from
which it is really difficult to overcome. Marketing mix requires a lot of research and observation
of market that, what other branded companies are using. New start-ups for success keep an eye
on other branded companies which use marketing mix in its best manner. Marketing mix main
aim is to identify the internal as well as external factor of business environment. It gives an idea
to company about the choice of consumers, price of the product , demand and supply etc.
Marketing mix includes 4Ps which individually assist the company in growing. First P of
marketing mix is Product, it is a commodity in which the company deals in a market. It includes
two component in it, first is Goods which are tangible in nature and the requirements of the
consumer, company decided first before starting the business that, with what good they want to
start their business, for example; company which deals with cars and bikes are goods of that
company. Another one is Service, it is an intangible product which is given by the company to
satisfy the need of customers. Mainly companies are goods provider or services provider, for
example; mobile internet company provide their services to the customers(Gbadamosi, 2019).
Second P is price, after deciding the product for a business company can fix the price of product,
after doing research in a market. Third one is Promotion, it is the most important part of
marketing mix and the main function of the companies to make their product common in a
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market. Last P of marketing mix is Place, this element assist business to find a best place for
their products. In business it is important to research about the area where the company believes
that, it is best for their product and services. These are Four elements of marketing mix, which
plays significant role in success of the company(Lim, 2021). An enterprise which got selected for
this report to understand the concept of marketing mix is an Enterprise Rent-A-Car. It is an
enterprise which provides their car on rental services to the customer's. They provide this rental
service in local areas, for airport, also provide motor vehicle, van etc. They are the part of largest
transportation solutions provider in the world.
Implications 4PS of Marketing Mix in selected Enterprises
The components of Marketing Mix are very essential to perform the business activities.
Each element has different role and every role is necessary for business to achieve the target.
Marketing mix is a plan and also its a procedure to meet with consumer desires and helps the
company to achieve its goals. Marketing Mix plan of Rent-A-Car Enterprises, are given below;
Product- It included goods and services in it, which would get provided by the company
in demand of the customer's. According to the customer preferences, companies decided to deal
with products. It generally mean, a thing which is the requirement and need of customer's and for
the company its a services for them to provide those goods to customer's. For example; company
deals in clothes, furniture, groceries etc. These items are the goods which is available in a
company,provided to the customer's.
Enterprise Rent-A-Car, is a company which deals with rental cars. They have a large business in
rental cars, motor cycles(Nwankwo and Richards, 2020). They provides their services with the
rental cars at local areas and for the airport. Their company becomes the biggest transportation
solution supplier in the world, company started with only seven cars. Now they are dealing with
two million transport vehicle in around 100 countries and in 7900 different locations. It got
happened because, at right time they choose a right product to deal with. After them there are so
many companies which are doing the same business of rental service provider. It is really
important for the business entities like an Enterprise Rent-A-Car, to choose that product which is
in demand in a market.
Price- It is the most important component to decide in marketing mix. The whole
planning is depend on prices of the available products. If customer's didn't like the price, the
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whole marketing mix concept got failed(Pinarbasi, 2019). Companies decided prices of product
by observing the prices of their competitor and also to cover up their cost of production. Whole
economy of the company can be decided by this factor. An Enterprise Rent-A-Car, has different
approach towards price, because they provide high class vehicles for transportation. Customer's
approach them to get the high class facilities by hiring the world best car and vans which fulfil
the desire and utility of consumer's. Enterprise decided their prices with observation of their
competitors. Price would never an issue for the enterprise, customer always get satisfied as they
know the supreme services of company.
Place- To start a business it is really an important factor to decide a place, where they feel that
will get a chance to capture the market. Most of the companies take it as an opportunity to decide
a place and start their business there. Business growth is dependent on place like, a company
decided to deal with groceries product in a rural areas, chance of success get increase because
there will be more demand of groceries there and there were no supplier of it(Rhine,and Pension,
2022).
Rent-A-Car enterprises, expand their business with zero, now they capture almost half of the
world places. They started with UK and now they expand their service provider in Ireland,
Canada, Germany, Spain, USA etc. They use this component there which they think it will be
better for their business growth. Because of largest rental service provider in a world for them it
is easy to find a place and also capturing the market.
Promotion- This last factor of marketing mix is use by a company to promote their
services and goods. Companies used this to give an idea of the product in the market. Nowadays,
it is an essential part of a business, each and every businesses whether its small or big all of them
believes in doing the promotion of their brands products(Rudawska,2018. It can done by various
ways, every company with their innovative thoughts promote their brands like, some companies
were doing advertisement of their products. There so many ads on television which promote
different-different companies, even in ads the companies promote their products with the help of
famous personalities like an actor, dancer, it really influence the customers and they make their
mind set to use that product.
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Enterprise Rent-A-Car, use different kind of promotion techniques, which attracts customer's. It
gives rewards to their customer's by hiring a vehicle from their company(Stead, and Hastings,
2018). They use many different and attractive policies which helps customer's in fair like they
give 10% offer on advance payment. They have a club, through that club they promote their
company and also invite their customer's in club parties and also provide them offers on different
occasions.
CONCLUSION
Marketing Mix is an essential process for business to perform. It genuinely helps businesses in
their growth and also give an idea about the customer like and dislikes. Every business is
dependant on customer's and only the customer's will give growth to businesses. So, it is really
necessary for every business to take care of customer's need and demands. This process of
marketing mix helps businesses to make their own customer's. In the above report, concept of
marketing got explained precisely and what contemporary issues businesses got faced. Apart
from this, concept of marketing mix with detailed explanation of 4Ps got discussed above. An
enterprises Rent-A-Car which deal in rental services of car, motor bike, vans etc. through this
organization concept of marketing mix got explained, and it also come to know about the Rent-
A-Car process of marketing mix.
REFERENCES
Books and Journals:
Chakraborty, A. and Jha, A., 2019. Corporate social responsibility in marketing: a review of the
state-of-the-art literature. Journal of social marketing.
Ergashhodjaeva, S.J., 2018. Genesis of the concept of the essence of innovative
marketing. Theoretical & Applied Science, (3), pp.113-119.
Gbadamosi, A., 2019. Contemporary issues in marketing: Principles and practice. Sage.
Lim, W.M., 2021. A marketing mix typology for integrated care: The 10 Ps. Journal of Strategic
Marketing, 29(5), pp.453-469.
Nwankwo, S. and Richards, D., 2020. Contemporary issues in entrepreneurship marketing:
Sustainability, ethics, and social responsibility. In Entrepreneurship Marketing (pp. 337-
358). Routledge.
Pinarbasi, F., 2019. Contemporary Issues and Challenges in Marketing Environment
Worldwide. Handbook of Research on Managerial Thinking in Global Business
Economics, pp.22-40.
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Rhine, A. and Pension, J., 2022. The Engagement Edge. In Business Issues in the Arts (pp. 183-
199). Routledge.
Rudawska, E. ed., 2018. The sustainable marketing concept in European SMEs: Insights from
the food & drink industry. Emerald Group Publishing.
Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance
right. In Social Marketing (pp. 29-43). Psychology Press.
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