Analysis of Marketing Process and Mix of Enterprise Rent-A-Car

This report provides an analysis of the marketing process and marketing mix employed by Enterprise Rent-A-Car. It begins with an introduction to the concept of the marketing mix and its components, including product, price, place, and promotion. The report then discusses how these elements are applied within Enterprise Rent-A-Car to meet consumer demands and maintain a competitive edge. It explores the company's strategies for product offerings, pricing, distribution, and promotional activities, highlighting their impact on sales, brand awareness, and customer satisfaction. The report concludes by summarizing the key techniques and tools essential for designing an effective marketing plan, emphasizing the importance of understanding market trends and consumer needs to achieve business objectives.

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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1: Demonstrate a knowledge and understanding of the marketing process in the contemporary
business context..........................................................................................................................1
2: Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service....................................................................1
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................5

INTRODUCTION
The concept of marketing mix can be defined as the process of determining various concentrated
areas as a component of across the board management. Marketing mix holds a wider scope in
terms of performing a deep study of the different regions or locations. It also helps in
identification of the market trends by calculating the fluctuations in terms of product, price,
preferences, promotion, demand and supply of the product and services, etc. Marketing is
considered as a technique which helps in introducing the product or service to the clients. Along
with all these aspects, there are certain challenges that poses towards the marketing process
which influence the world economics. The consumers only focuses on the type of goods and
services that are provided by various manufacturers that whether the product is satisfying the
needs of the client or not. This consciousness about the goods and services affects the companies
to increase the level of production by producing the products that are being demanded by the
customers(Wirth, 2018). This particular activity of marketing, encourages different business
organizations in order to promote their sales and enhance the profitability. It also affects the
brand name of the business in the market. This process could be done by making a impactful
advertisement in terms of attracting the larger customer base. Enterprise Rent A Car is a
company that provides cars on lease to the customers. The company is formed in the year 1957
by Jack Taylor . This report will discuss about the marketing process and marketing mix.
MAIN BODY
1: Demonstrate a knowledge and understanding of the marketing process in the contemporary
business context.
2: Demonstrate understanding of the concept of the marketing mix and explain how this is
employed when developing a new product/service.
Process of marketing-
The activities that are used to promote and introduce the product or services of the particular
business in order to increase the sales of the specific product is known as marketing. It includes
the activities like, selling. Advertising, transportation of the goods to the clients in terms of
individuals or other companies, delivery of the goods to the customers, etc. In today's era,
marketing is one of the important aspect of business management. It is accountable for
determining the demands of the consumers by foreseeing the needs of the different consumer
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base in terms of making profits. There are basically two terminologies used to define the process
of marketing, first one is selling by determining the preferences of the customers and influence
the market needs(Tong, Luo and Xu, 2020). Second, is from the company's point of view which
states that the growth and development of a business is based on the customer satisfaction by
manufacturing the product by analysing the likes and dislikes of the customers, pricing the
products, supplying the goods to the selected customer base by doing promotional activities so
as to encourage the customers to buy that particular product. In order to develop the brand name
in the market, the company must undertake effective marketing strategy and prepare a plan of
action for the same. The consumers will not become aware about the goods and services that are
being offered by the different companies until and unless the companies initiates the marketing
of those products or services in order to promote them.
Marketing mix-
The term marketing mix discuss about the two-fold marketing plan that consider the different
areas of direction in terms of creating a complete marketing strategy in order to promote the
goods or services of the company. It is further categorized into price, product, placement and
promotion, which helps in increasing the sales of the company by making the customers aware
about the product. Marketing is totally depends upon the external and internal factors that affects
the market demand of the consumers. According to their needs and preferences marketing plan is
being prepared by the companies in order to provide with them with the required solutions of
their needs. The marketing strategy must be smartly braced by the business organizations which
can make out different focused areas in which the companies needs to invest their time and
money.
The four P's of marketing are important so as to get an idea about the current trends in the
market. They are price, product, place and promotion. They are considered to be the internal as
well as external elements that affects the environment of business. Basically, it contains all the
essential factors that the company is required to undertake while identifying the preferences of
the customers in order to meet the demands of the customers. For example- it gives an idea to the
company to set the prices according to the quality of the product. It also ensures proper use of
marketing plan of action and performing in order to secure the objective of the company that is
promoting particular product or service. Effective process of marketing helps in maintaining a
strong relationship between the company and the consumers (Strycharz, et.al, 2019). It also
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provide assistance to the company to figure out the customers demand for the product and how to
meet the requirements of the consumers(Karunarathna, et.al, 2020). Marketing makes its easy to
explain or give details about the particular product in terms of its price, ingredients used in
manufacturing, retail agency, wholesalers of the product, valid till which date, etc. Product is a
term which denotes two aspects that is the goods and services. Goods are the products which
could be seen or concrete in nature, on the other hand, services means intangible products that
could not be seen. Price is the worth of that particular goods and services that is being listed by
the company. Marketing mix helps the company to fix the price of the product, and how to
retain the customer base, what areas are required to be targeted to attract new consumers. It also
ensures the company to be operated in an efficient manner in which they must focus on various
factors of marketing to achieve the desired goal.
Product and services-
No business can be function without the involvement of goods and services. Without them, no
business can grow in the market. Goods are the tangible things which could be used and also
consumed. Services are the non-tangible things which is originated from the output of different
people or class of people. In order to achieve the higher scale sales, the company use to
undertake manufacturing, promotion and supply of goods on low production cost which
ultimately helps in enhancing the profits of the company. The company needs to introduce some
uniqueness in the products or services they wants to offer. It will help them to attract more and
more customers as it is important to beat the competitors in the market. The product or service
should posses some attributes that makes it different from the other products or services of their
rivals. The companies are required to publicise their products in the market which can help in
creating a positive image in the minds of the customers. Listing of the products is also very
essential in terms of their price(Haenlein, et.al, 2020). The prices should carry the same
proportional worth according to the size and quality of the product. Basically, the value of the
goods should match with its pricing. The company must take appropriate decisions regarding
selling of the product and how to make it accessible to the customers. The enterprise rent-a-car,
deals in renting out the cars to the customers for various purposes. It provides vans, SUVs,
minibuses, travellers, cars,etc. The prices are appropriate and according to the size of the cars.
All the vehicles are well equipped with the required facilities, such as, TV, wash rooms, sleeping
area, pantry, etc. All these facilities are according to the size of the vehicles.
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Applying the four P's to the chosen product and services-
Marketing acts as a tool which helps the business enterprise to analyse the market in terms of the
needs and demands of the consumers. It also assist the businesses to create a successful market
strategy to achieve the desired aim and objective of the company. Along with the action plan,
marketing mix includes proper solutions to the problems which sometimes arise while meeting
the demands of the consumers. The marketing mix strategy in context with the enterprise rent-a-
car are as follows-
 Product- the term product includes both goods and services which is provided by the
different business enterprises in order to meet the desires of the consumers. By satisfying
the needs of the consumers, the company can convince them to pay the price of the
product. The enterprise rent-a-car is a service based company that provides various
vehicles on lease or rent to the customers. T involves airport rentals, holiday rentals,
business tour rentals, etc. The vehicles are well equipped with all types of facilities
according to the size of the vehicle. This particular enterprise has started its business with
seven cars and now it operates the rental services over 100 countries and it holds the
collection of two million cars (Kim, M.S. And Kim, 2018).
 Price- the business is all about money. Price is the main component of marketing mix as
it provides a clear view of the profitability of the company. Price is the worth that is
charged by the company for the respective services or goods that it makes available to the
consumers. It is determined by evaluating the value of the competitors products, discount
provided by the rivals, price listing of the carious other companies that are dealing with
the similar products. The enterprise rent-a-car is providing satisfactory prices according
to the vehicle size(Nurendah and Rainanto, 2019). The company is trying very hard in
order to maintain the price of the services so that they do not loose its customer base only
because of the unsatisfactory prices.
 Place- the business must reach out to the different places in order to create the brand
name in the domestic as well as the international market. Slowly and gradually, this could
be done when the company will start targeting the new locations in order to make a new
consumer base. The enterprise rent-a-car is engaged in providing the services in all the
cities of the United Kingdom along with the other countries such as, Spain, USA,
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Canada, Germany, etc. The enterprise is rendering its services in approx 100 countries all
over the globe.
 Promotion- the promotional activity in terms of any product or service is one of the most
important factor of marketing mix. As it helps in publicising the products or services and
makes the people aware about the particular goods or service. It also provides assistance
in terms of attracting the consumers who are willing to use or experience the product or
service. It also ensures better sales and profit maximisation of the company. The
enterprise rent-a-car, introduced certain rewards and discounts on the services in order to
increase their promotion. The enterprise is providing various benefits to the consumers
such as, they can earn points after hiring the vehicle more than three times and the next
ride could be paid in terms of those points that are earned previously by the customers, it
also provides the membership of various clubs and above that 10 percent discount over
the membership (Pantano, Priporas and Migliano, 2019) .
CONCLUSION
The conclusion drawn from the above report is that the process of marketing mix provides an
idea about the various techniques and tools that are essential in the designing the marketing plan
of the company. The business organizations are required to fulfil the demands of the customers
by analysing the different market trends and the needs of the consumers. The report discussed
about the concept of marketing process and marketing mix. It also provided a brief explanation
of the four P's that are considered to be an important element of the marketing mix. It also
defines the concept of product and services along with the application of the four P's to the
chosen product or service.
References:
Wirth, N., 2018. Hello marketing, what can artificial intelligence help you with?. International
Journal of Market Research, 60(5), pp.435-438.
Tong, S., Luo, X. and Xu, B., 2020. Personalized mobile marketing strategies. Journal of the
Academy of Marketing Science, 48(1), pp.64-78.
Strycharz, J.,et.al, 2019. Contrasting perspectives–practitioner’s viewpoint on personalised
marketing communication. European Journal of Marketing, 53(4), pp.635-660.
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Haenlein, M.,et.al, 2020. Navigating the New Era of Influencer Marketing: How to be
Successful on Instagram, TikTok, & Co. California management review, 63(1), pp.5-25.
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.
Nurendah, Y. and Rainanto, B.H., 2019, May. The Analysis of Shoes Marketing Mix in Style
Successful Benefits SMEs of Shoes Product in Bogor. In 1st International Conference
on Economics, Business, Entrepreneurship, and Finance (ICEBEF 2018) (pp. 518-521).
Atlantis Press.
Pantano, E., Priporas, C.V. and Migliano, G., 2019. Reshaping traditional marketing mix to
include social media participation: Evidence from Italian firms. European Business
Review.
Karunarathna,et.al, 2020. Impact of green marketing mix on customers’ green purchasing
intention with special reference to Sri Lankan supermarkets.
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