Marketing & Consumption: Analysis of Marketing Mix and Purchases

This essay delves into the core concepts of marketing and the marketing mix, highlighting their importance in contemporary business practices. It examines how effective marketing strategies enable businesses to enhance customer engagement, build brand loyalty, and gain a competitive edge. The essay also analyzes two recent purchases, one involving careful decision-making and the other being an impulsive purchase, illustrating the different factors that influence consumer behavior. The analysis incorporates the role of the buying center, the decision-making process, and the application of models like the Dirichelet model to understand brand loyalty and repeat purchases. The essay concludes by reaffirming the vital role of marketing in driving business success and improving overall productivity.

Summative Assessment 1
(Marketing and Consumption
)

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Marketing and marketing mix..................................................................................................3
2. Recent purchases......................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is referred as an effective practice which helps a business organization to
create awareness for their products and services among the customers. It is crucial for companies
to promote their offerings to the customers in order to increase their engagement towards the
business practices and gain better advantage in the industry. The current report will explain
concept of marketing, marketing mix and its importance and two purchases that involved
decision making and impulsiveness.
MAIN BODY
1. Marketing and marketing mix
(a) Marketing
Marketing is defined as the activities that are undertaken by businesses in order to
advertise their products or services in the markets. It includes promotion, sale and delivering the
offering to the customers and providing them with the maximum value. It is helpful for a
business to develop better relationships with their customers and enhance their overall
experience with the organization (Gossen and Kropfeld, 2022). This has a positive impact on the
buying behaviour of clients and increases their engagement in the business practices that are
conducted by the organization.
Marketing is an effective practice which helps the businesses to gain competitive
advantage in the industry (Donthu and et.al., 2021). With the help of effective marketing
strategies, various organizations are able to convert more potential clients towards their business.
It is useful in gaining their trust and provide them with better value of the products. Companies
are also able to retain their past clients by improving their loyalty towards the brand and creating
an effective image among them for better results. Marketing has a direct impact on the
productivity of the business as a better response from the customers helps the organization to
focus on their goals and create better products and services for their customers.
(b) Marketing mix
Marketing mix is considered as a tactical part of a marketing plan which helps business
organizations to prepare effective strategies for targeting their customers appropriately (Rinallo
and Alemany Oliver, 2019). This is an effective tool which helps the management to enhance
their quality of output by differentiating appropriate plans for different areas such as product,

price, place and promotion. These aspects are considered as the four Ps of marketing which helps
the businesses to reach out to a wider audience by continuous efforts in the development of
business.
Product
The offering of the business which is designed to fulfil the customer wants and needs is
referred as a product (Whitburn, Karg and Turner, 2020). It is necessary for the businesses to
create valuable and attractive products for their customers which provide them a unique
proposition.
Price
Price plays a vital role in the popularity of the products among customers and it helps
them to make their purchase decisions appropriately. With the help of effective pricing strrategy
businesses are able to increase the interest of their customers towards the products and services
that are offered by them.
Place
The area where the products and services are available is a crucial aspect which helps
businesses to attract more customers and increase their engagement towards the products and
services (Donthu and et.al., 2021). It plays a crucial role in increasing the interest of the
customers towards the business and providing them with better opportunities to grow in the
industry.
Promotion
It includes the advertising and promotional strategies which are adopted by the business
in order to attract them towards their organizational goals and increasing the overall success of
the business. It is useful in creating an effective image of the business among the customers and
enhance the overall response which is received by them.
The marketing mix plays a vital role in the success of the companies and reduces
confusion in how to expand their services and achieve better quality of output (Smith and et.al.,
2019). It helps in identifying the specific needs of markets and increases the ability of the
management to make informed decisions. With the help of these practices, businesses can
produce higher quality of output and achieve better position in the markets.

2. Recent purchases
First purchase- Involved proper decision making
Role in buying centre
I have recently purchased a car with conducting proper discussions and consulting with
my family members in which car to select. Car is an expensive entity which requires proper
planning and consideration to make an informed decision about buying it and reducing the
situation of any type of loss.
Decision maker
I was the decision maker in this buying centre having the authority of making the
decision of buying the entity (Semprebon and et.al., 2018). I had chosen the best suitable car to
buy and was responsible for purchasing decision.
Influencer
My parents were the influencers as they helped me to decide from the options that were
available to me. They gave their opinions about the durability, average or comfort of the car
which was helpful for me to make the informed decision to buy the product.
Initiator
My friend was the initiator in this process who initiated the idea of buying a car to me as
I didn't have any vehicle to carry on my transportation activities.
Decision-making process and activities undertaken
I followed the standard decision-making making process which was helpful for me to
purchase the desired product and fulfil my needs. It included various steps which are as follows:
Problem recognition
I used to get late several times to the office as I travelled through public transport on a
regular basis. This was the problem which initiated the idea to buy a car and save my time to
reach my destination quickly.
Search Processing
I surfed through various websites on the internet in order to find the most suitable car
which matches my needs. It was useful for me to gain better options for choosing the best option
for buying (Whitburn, Karg and Turner, 2020).
Evaluating Alternatives

I evaluated many options for making the final purchasing decision and segmented the
cars on the basis of their average, comfort and durability.
Selection Stage
I selected the most suitable car which was fit according to my wants and had all the
features I needed.
Evaluation of decision
The purchase decision was beneficial for me as the car was giving better average and
required less cost on maintenance (Semprebon and et.al., 2018).
Criterial chosen for short-listing the best products
I chose different criteria for selecting the desired product where were durability, average,
low cost maintenance and comfortable. These are the crucial aspects that have been crucial in
selecting the most suitable product according to my requirements. It helped me to explore more
options and choose the best suitable product for my satisfaction. I prepared a list on the basis of
these criteria and selected the most appropriate car model which matched my preferences and
provided more value to me.
Second purchase- An impulsive purchase
I saw a black shirt in a mall when I was exploring clothing options to buy. I found it
attractive and bought it instantly as the shirt was a right fit and suiting my overall personality.
The fabric which was used in the preparation of that product was soft and I liked the feel of it in
my body. This is the major reason with encouraged me to buy this product and improve my
overall satisfaction. I liked the brand specially the quality which is provided by them consistently
in their products, I often buy the clothes of the same brand as it is affordable as well as
comfortable. It offers stylish and attractive options to buy which has a positive impact on my
buying behaviour towards the brand.
The Dirichelet model is given by Eherenberg and Goodhart which explains the
probability of a customer purchasing products from a specific brand (Jaiswal and et.al., 2021). It
explains the different aspects that are related with the overall relation with the buying behaviour
of people towards specific products and brands. The principles and beliefs of this strategy are
useful for making the decision of purchasing products from the similar brand which are offered

by the business. My actions to buy the fashion products of the specific brand resembles the
concepts of this model which are helpful to enhance the quality of output.
It explains that the buying behaviour is related with different aspects that are crucial in
the decision-making process of the buying products from a specific brand. I find it more
convenient to buy clothes from this brand in comparison with the others as it is useful to develop
better perceptions about the processes. It is vital to manage my decisions towards the overall
development of the products that are offered by the brand.
My thoughts and actions match the ideology of this model which is helpful for me to
choose between the perfect alternatives between the options. I have developed a better thought
process towards the specific brand which increases my interest in buying the clothes from it.
With the help of these aspects, I have been able to make informed decisions and gain better
advantage in my buying process. The beliefs of Ehrenberg and Goodhart further relates with my
thoughts and actions which have been developed due to these practices which are crucial for
enhancing the process of buying (Semprebon and et.al., 2018).
CONCLUSION
The above report has concluded that marketing has been an effective practice for
businesses in order to improve their overall productivity. It creates better opportunities for
organizations to promote their products and services and gain better advantage in the industry.
Marketing mix has been an effective tool which improves the development opportunities and
enhances its development in the industry which is crucial for gaining advantage. It has been
helpful for businesses to gain better advantage and enhance the services that are provided by the
customers.

REFERENCES
Books and journals
Donthu, N. and et.al., 2021. A bibliometric retrospection of marketing from the lens of
psychology: Insights from Psychology & Marketing. Psychology & Marketing. 38(5).
pp.834-865.
Gossen, M. and Kropfeld, M.I., 2022. “Choose nature. Buy less.” Exploring sufficiency-oriented
marketing and consumption practices in the outdoor industry. Sustainable Production
and Consumption. 30. pp.720-736.
Jaiswal, D. and et.al., 2021. Towards green product consumption: effect of green marketing
stimuli and perceived environmental knowledge in Indian consumer market. Society and
Business Review.
Rinallo, D. and Alemany Oliver, M., 2019. The marketing and consumption of spirituality and
religion. Journal of Management, Spirituality & Religion. 16(1). pp.1-5.
Semprebon, E. and et.al., 2018. Green consumption: a network analysis in marketing. Marketing
Intelligence & Planning.
Smith, R. and et.al., 2019. Food marketing influences children’s attitudes, preferences and
consumption: a systematic critical review. Nutrients. 11(4). p.875.
Whitburn, D., Karg, A. and Turner, P., 2020. The effect of digital integrated marketing
communications on not-for-profit sport consumption behaviors. Journal of sport
management. 34(5). pp.417-434.