BMP4004: The Nature and Importance of the Marketing Mix Report

This report provides an explanation of marketing and the marketing mix, focusing on the 4Ps (Product, Price, Place, Promotion) with Morrisons supermarket as a case study. It details how each element of the 4Ps is applied within Morrisons' marketing strategy, including product development, pricing strategies, distribution channels, and promotional activities. The report emphasizes the role of the marketing mix in attracting customers, creating brand awareness, and achieving long-term business profitability, concluding that a well-defined marketing strategy is essential for organizational success.

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In Marketing
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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
An explanation of marketing......................................................................................................3
An explanation of marketing mix...............................................................................................3
A brief theoretical explanation of 4Ps marketing mix................................................................4
Introduction of product/service..................................................................................................4
Application of 4Ps marketing mix to the selected product/service.............................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
An effort by business to sell its product and services and promoting them by including
marketing research and advertising. Its a process of creating products. communicating with
customers and delivering them product and services with best offering. There are many types of
marketing that includes influencer marketing, relationship marketing, outbound marketing,
inbound marketing and content marketing. By applying different marketing strategies on
prospective consumers company can turn them into perspective buyers of their product and
services. A set of marketing mix is used by different companies to promote their products in the
market. This report is being made in the context of Morrisons , a supermarket in UK having its
head quarter in Bradford, UK(Bruskova, 2019) . The aim of this report is to explain the concept
of marketing mix with detailed analysis of 4P's mix with respect of product and services and
application of 4P's in marketing mix.
TASK
An explanation of marketing
A marketing does not only include selling product and services but its a wide range of actions
that a company can take to attract an audience in the company through quality messaging.
marketing aims to provide valuable goods and services to consumers through various content for
long term by strengthening brand value that ultimately results in increasing sales and
profitability. Its a necessary process of research, analyse and conduct surveys of your consumer
from the time of product formation. Marketing creates awareness about the product and
influence potential buyers that how a particular goods can satisfy their needs. Company can
apply marketing strategies on both existing as well as new products and customers (Demirbag-
Kaplan and Cavusoglu, 2019). With the rapid advancement in the technology, its become
essential for a company to promote their goods and services with the most effective and efficient
method to generate buyers and to stand in the market.
An explanation of marketing mix
Its a process of mixing different ideas and plans of marketing with marketing strategies to
promote specific product or brand. A company needs to consider on various sides of product and
marketing before formulating the marketing strategies. Providing knowledge about your product
to the public and advertising to expand your reach to build a connect with the people with

different methods is refers to marketing mix. It includes a varied range of strategies that allows
company owners to target a particular market and creates a image of a brand to attract
customers. Marketing mix is very important for an organisation for making sales. Concentrating
on different tools in marketing mix makes a business flexible while responding to customer's
behaviour in buying product and services (Eti, 2020). Its also plays an essential part because it
gives company a brand identity and makes it different from the competitors.
A brief theoretical explanation of 4Ps marketing mix
The term marketing mix contains four P's of marketing, These four elements join and identify
the potential customers , gives a company basis for advertisement and helps in development of
marketing mix. The four P's of marketing includes product, price, place and promotion . These
elements provide framework to promote and foster unique brand value if they united effectively
and makes a brand stand out among the competition (Kim and Kim, 2018) . These are the
essential components in the marketing includes product, that satisfy consumer needs and target
customers. price, refers to monetary value of product calculated by balancing market data
company expense calculations. Place, refers to reaching your buyers and providing product and
servicing access at right place and at right time. Promotion, refers to how to make a public aware
about the product and how to communicate with them through different channels.
In the context of Morrison, they analyses their brand with the marketing mix foundation
which covers 4P's framework which helps the company to achieve position and goals in the
market. Its product strategy explained as, its a grocery supermarket selling great quality and fresh
food is the prime key success. By delivering fresh food and by concentrating on quality,
appearance and packaging of food products will help them in product strategizing. Morrison's
pricing strategy includes offering lower price with better product quality and services. They use
premium pricing, promotional pricing and product bundle pricing. Its place strategy includes
wide geographical presence, they have 660+ stores and also a second largest food manufacture in
UK. And the last its promotional strategy includes that they are working with their suppliers, so
it also promote farming program and by offering lower pricing with quality and different range
of products.
Introduction of product/service
The product and services are the basic element for any business to sustain in their particular
field. Product is tangible item that a company produce and introduce in the market for the

consumption or to satisfy the needs of the consumer whereas services is an intangible non-
physical item that has the capability of providing satisfaction and wants of the customers. The
main difference between product and services is that business sell products physically or
tangible object while services provide value by skills and expertise (Nguyen Viet and Nguyen
Anh, 2021) . Product can be utilised by the customer and can be seen whereas services cannot be
seen and its presence can only be felt by getting satisfaction from it. Morrisons are selling
products such as food, drinks, cloths, books, magazines and many more, while in services they
are providing their products in online modes as well as providing delivering goods at home
services.
Application of 4Ps marketing mix to the selected product/service
It is the framework that covers the agenda of strategizing marketing in product, price, place and
promotion. The application of these 4P's are depends on several factors that includes clearly
analyse which product and what type of services a company is providing, by identify how a
product can satisfy the demands of the customers and understanding of the location where a
company can find their targeted audience. The combination of these marketing mix creates a
value of products which help in long term profitability of business. The marketing mix strategies
of Morrisons are discussed below:
Product
A creative and working marketing mix strategy start with offering a product and services that
can fill an essential need of customer. By evaluating how a product can make a change in a
lifestyle of a customer and how it will be beneficial for the company, a company produces and
build a product. It can also be explain as a bunch of utilities with physical and non-physical
aspects such as its design, volume, brand name and many more that has an ability to satisfy
consumer needs. Business can change products, expand them or can produce new products in
order to meet their business objectives. In the context of Morrisons, they are currently having
more than 497 super stores in United Kingdom and selling range over 400 products. It has its
own brand name M Savers (Safari and Albaum, 2019). They are providing product and services
in both online and offline modes and also providing home delivery services. They are regularly
developing their products as per the consumer needs and to make them better in terms of quality
and price. They are selling multiple products such as meat, fresh foods and vegetable , Frozen

foods, drinks, bakery items and many more. And in order to facilitate their product they are
making continuous changes to their products and launches new products.
Price
Pricing a product is a major aspect for any company as it directly makes an impact on sales
volume and, subsequently on business profits. By making balance between product market
analysis, adding companies expenses and by customers point of view a company sets a price of a
product. A effective pricing strategy is one which perceived the value of products with that also
maintains good profit margins. Generating right price for a products involves considering various
aspects such as demand cost, pricing trends among competitors , government rules and laws and
many other crucial factor. Sometimes basic pricing also involves discounts, freight payments,
credit terms,etc. In the context of Morrisons there pricing strategy is the reason why customer
prefer to choose Morrisons than others (Warrink, 2018) . They offer reasonable price for their
products and making continuous improvements in their strategies of pricing and provides quality
products and services. Morrisons use three types of pricing that are premium, promotional and
product bundle pricing. They ensures lowering in their pricing with better quality and make sure
that customer cannot shop from elsewhere just because of price.
Place
Choosing the right place for the product where they are made easily available for sale. By the
term sale it means the physical environment and on online market where the company can sell
their product and services and reach to the targeted buyers. The basic motive of of choosing right
place of distribution is to make sure that the product is readily available for the buyers at right
time and right place and for this marketers have to evaluate the market conditions and the
potential customers or various other internet platforms where consumers most likely to shop
from. Its valueless to sell products at a place where customers are not aware of such products. In
the context of Morrisons, they have 660+ stores and 150+ convenience stores with lakhs of
employees. Their placing strategy includes their wide geographic presence in different places.
Morrisons have one national and seven regional distribution centre. They are available on both
the modes of selling offline and online with all the different products. Their logistics and higher
turnover shows a positive condition of company.
Promotion

Promotion plays a very crucial role in marketing mix it involves advertising, direct marketing,
making public relations, sales force, etc. The basic aim of promotion is to spread awareness and
knowledge about the company's product and services. It covers any type of campaign, that
includes public relation outreach and other selling strategies. Promotional activity takes place via
advertising and social media marketing. It further divided into different promotional efforts such
as advertising, means selling products and services through communicating via non-personal
modes. Public Relations, this includes management of flow of information from an organisation
to general public. Marketing strategy, identifying right market and using effective tools of
promotions to generate customers. Effective promotions can make an influence in buyer's
decision and building an image of product. With respect to Morrisons, they are using current
technology digital platforms to promote their products. Using new technology in promotion
helps to promote products faster compare to the older methods. By promoting their products in
digital platforms results in more customer and wider reach (Zhiyi, 2021). Morrisons also using
various discounted and rewarding schemes in their promotions. Their promotional campaigns are
well known for their beautiful pictures in different styles and colours. But they believe in
approaching their buyers by concentrating in prices more rather than other factors.
CONCLUSION
From the above report it is concluded that marketing plays a very important role in building an
organisation. It adds wide range of actions taken by company to attract potential buyers. It also
create awareness among buyers about to product and services of the company. This includes
application of various marketing strategies into the market, one of them is marketing mix
strategy, its a process of mixing different ideas and plans to promote a particular product. Then it
discuss the 4P's of marketing strategy which includes product, pricing, place and promotions. On
the basis of these 4P's marketing strategies are formed for the company. Company should focus
in these 4P's marketing mix to develop their business and for the profitability of their business
for long term.

REFERENCES
Bruskova, O., 2019. MARKETING MIX (THE CONCEPT OF 4PS). In Public Relations as a
Brand Awareness Booster (pp. 22-27).
Demirbag-Kaplan, M. and Cavusoglu, L., 2019. 2A Digital Transformation of Marketing Mix:
From 4Ps to 4Ss. ACR North American Advances.
Eti, I.A., 2020. Theoretical Inspection And Rethink of Marketing Mix. Available at SSRN
3685642.
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.
Nguyen Viet, B. and Nguyen Anh, T., 2021. The role of selected marketing mix elements in
consumer based brand equity creation: milk industry in Vietnam. Journal of Food
Products Marketing, 27(2), pp.72-88.
Safari, A. and Albaum, G., 2019. Transactional or relational exchange theory in B2C marketing:
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Warrink, D., 2018. The marketing mix in a marketing 3.0 context. International Journal of
innovation and economic development, 4(4), pp.7-11.
Zhiyi, Z., 2021, December. Analysis of Fast Fashion Brand Marketing Strategy Based on The
Four Ps of Marketing. In 2021 3rd International Conference on Economic Management
and Cultural Industry (ICEMCI 2021) (pp. 95-99). Atlantis Press.