Contemporary Issues in Marketing: The Marketing Mix Importance

This report provides an overview of the marketing mix within the context of contemporary marketing issues, focusing on its nature, importance, and impact on customer satisfaction. It begins by explaining the fundamental concepts of marketing and the marketing mix, followed by a theoretical explanation of the 4Ps (Product, Price, Place, Promotion). The report then applies the 4Ps framework to Dyson, a Singapore-based company specializing in electronic appliances, to illustrate practical application. It discusses how each element of the marketing mix contributes to Dyson's marketing strategy, including product planning, branding, advertising, and servicing. The report concludes by emphasizing the critical role of marketing in business, highlighting the importance of strategic planning and control for effective management and customer satisfaction. Desklib offers a wealth of similar resources for students seeking to deepen their understanding of marketing concepts and practices.

BSc (Hons) Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
Submitted by:
Name:
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Contents
Introduction p
An explanation of marketing p
An explanation of marketing mix p
A brief theoretical explanation of 4Ps marketing mix
p
Introduction of product/service
p
Application of 4Ps marketing mix to the selected
product/service p-p
Product p
Price p
Place p
Promotion p
Conclusion p
References p
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Introduction
Marketing Is the term and word which refers to the actions of promoting goods
and services in order to increase the sales. As well as, the team is responsible for
making an innovative strategy and techniques in order to promote the goods in
international or regional marketplace. It ensures the long term sustainability of the
company and there services (Ranjit Raj, and Dutt, 2019). The main of this area is
to generate revenue and attracts more customers from the market as well
influence them to buy the products from the company. This report is based on
Dyson company it is Singapore based company, which deals in electronic
appliances like hair dryer, and many other items that is counted In cosmetics.
They have product differentiation. The report will explain about the marketing
concept and their principles. Further more it will describe about the marketing mix
in brief.
An explanation of marketing
Marketing is the process of getting the correct goods and services or
thoughts to the correct place at an appropriate duration, time, value and many
others. This is for utilizing the accurate technique and using the right person to
give the users service related with the goods and services or thoughts. This
strategy is linked as the appropriate principle as per the marketing strategies.
The manager can state that merchandising is researching on the requirements
and needs of the possible consumers and then giving goods and services that
meet or expand the assumptions of those consumers. It is about making
exchanges ( Gustika, , Putri, and Putri, , 2021). Converting takes place when
two parties provide something of valuable to every one in order to satisfy their
wants. Dyson, utilize the marketing concept when it analyze the purchaser wants
and then oriented towards requesting users by serving value. Particularly this
concept includes certain terms.
 Concentrating on the needs and wants of the users so the company can
differ its goods , offers and thoughts.
 Segregation of each of the company actions, considering operations and
activities in order to satisfy these needs and wishes.
 Attaining long term objectives by satisfying users needs legally and
duties.
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Goods are not just created by operational area and then marketing areas are
expected to determine manner to sell them by exploring the marketplace. An
industry that truly uses the marketing concept and the data generated by doing
research the list of expected users is created so that the company like Dyson can
Influence them to buy the goods from them. They majorly focus on increasing the
sales scale by satisfying the needs and wants of the users. It is consist of different
sections like traditional marketing and nontraditional marketing. Traditional
marketing is consist of old technique of merchandising like bill boards and news
paper advertising and many other. Whereas, the other one is included with social
media marketing, e mail marketing and others.
An explanation of marketing mix
It is a set of management variables that a company can utilize in regards to
attracts the purchaser feedback within a provided marketing surrounding like
trending needs, social, cultural and many others. The surrounding attracts are
unmanned factors, whereas the elements of marketing mix ate manageable
components or content (Salam, , Muhamad, and Leong, , 2019). The relation of
these factors are elements the marketing mix and this is the event that is
expected to be in tune with the surrounding attractions that is explained in
further. For every market segment and market surroundings, Dyson will have
particular and accurate marketing mix. It is a basic tool of marketing managers
which Is used to market a goods and services, this is completed by utilizing the
four principles to introduce what the products and how it is going to be sold. It
includes the multiple areas of concentrate of a comprehensive marketing plan.
The term states refers to a common classification that stats with the marketing
principles that are price, people ,promotion and products. Here are some elements
of marketing mix that are listed in below :-
1. Product planning - it is the process of determining and making a new
goods thoughts with all goods linked needs just as its functions , price,
promotion, distribution and many others. It aims to align the inventory of
the Dyson and operations essentials to concentrate on goods improvement,
design and engineering efforts. The reason of it is to deliver the huge
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assumption of achievements in attaining business objectives through
impressive product planning.
2. Branding - it is the process of making a strong, positive and perception
of a company, its goods and services in the users brain by linking such
factors as logo, design, aim and a consistent theme throughout all
marketing communications. The company Dyson, uses the social media
platform to branding the goods in international market. They work from
both mode as online and offline too (Kolesnik, , 2020).
3. Advertising - It Is means of communicating with the users of a goods or
service. These are messages given by the company to users in order to
influence the buyers to buy the goods from the company. In extent of
Dyson, the company uses this techniques to promote the goods in market
place to raise the sales volume with in the organization.
4. Personal selling - it Is also known as communicative selling or reference
selling. When a sales person who is the trying to convince the users in
buying a goods. It is a promotional ways by which the person utilize there
skills to sell the goods .
5. packaging - it means wrapping or covering the goods to create the safe
from damages while transportation. It holds a goods securely and
marketable along with that it assist in determining, analyzing and promoting
the goods. It is the preparation of goods and commodity for proper
saving and transportation. The company Dyson, is using the attractive
packaging and impressive logo of the brand that impress the other
customers to buy the goods of the company.
6. Servicing - it is the activity which is being done given by the persons in
order to satisfy the needs and wants of the customers so that they can be a
good and loyal users of the business. In extent of Dyson, the company
provide the after services so that they can fulfill the needs and wants of the
buyers. They also provides the customer care services so that customer
can get the resolution on call too (Arifin, ., 2019).
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A brief theoretical explanation of 4Ps marketing mix
It is the concept of marketing all the activity is being done with the aim of making
money as well as they got the idea of investing amount and how the marketing is
going to be act so that the goal can be attain on time successfully. This is consist
of various principle that clear the concept In descriptive way so it is easy to
understand the needs and wants of the buyers as well. This is used by
organization to determine some key factors for the company to meet the needs
and wants of the business. Here are some points that make the concept more
clear.
 Place refer to where and how people bought. Some of the illustrations of
places uses can buy goods and services considering online through a
web browser, through a smartphone app, retail locations, through trade
presents or programs.
 Valuation refers to the how much the Dyson goods or service value. How
the price the goods on the basis of rivalry and demand cost. Dyson
required to focus on their pricing models, considering selecting between
one time buying and subscription models.
 Product refers to the merchandise or employment your concern supply to your
target people. The creation a Dyson, cater can vary importantly depending on
the type of fellowship and what they do (White, 2019).
Introduction of product/service
it is principally a selling attack and is a conceived initiative to make a product
accessible to circumstantial marketplace section. Depending on the quality of the
ware, market kinetics, regulative demand and other economical and societal
restraint, the product section procedure can alter. The company like Dyson they
provides the goods like hair dryers and hair straightener or else . Recently they
have Introduced the product portable hair dryer which person can carry any
where that have to just charge it and can use that any time any where. The
benefit of the product is having a long life battery life. Along with that it consist a
multi functional like it also assist in straightening the hair too.
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Application of 4Ps marketing mix to the selected
product/service
Product
It Is the factor that possess a group of utilities. It covers the physical
attitudes, the packages, branding, labeling, warranties and services the presents
the goods and services. It is evolved in communicating of selling manager. It
should copy with users requirements and expectations. The company sells the
products by is majorly used by the females and the brand is well recognized in
the market place. They provides the hair dryer, straightener, and many other
goods that is utilized by the females (Lyeonov, , and et., al., 2021),.
Price
It covers valuation objectives and strategies. Valuation is the monetary
value of a goods. It also considers discounts, allowances and terms of credit. It
is an impressive mode of having challenges in market. It can also operate as a
device of promotion. The Dyson, company uses the premium pricing strategy as
well as they use this for premium customers as brand is treated as the luxury in
the marketplace. So this increases more brand value in marketplace.
Place
It is defined as the straight channels to market, location, territorial coverage,
retail outlet, market location, cantaloupes, assets, warehousing and order
fulfillment. It refers to the physical location where an industry reaches out
company or the supply networks utilized to reach market. It may refer to stores,
but raising refers to virtual outlets just as a call center and many others. The
company such as Dyson, produces the luxury goods like there hair dryer,
straightener and many others. In extent of Dyson, the company provides their outlet
in the areas where buyer can reach easily as well as they serves more exclusive
offers and discounts in the market place.
Promotion
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It is marketing strategy that is used to promote the business in the market place
as it makes the business more effective and grows the brand value in
international market. Although it is usually adapted by every enterprise in order to
create a brand value by selling the goods in place where products is sold in
exchange of money. It is being adapted by the company in order to make the
company more challenging and active in comparison of other brands. In extent of
Dyson, they promote the goods and services through the digital platform and
traditional manner too just as they use bill boards and other ones that is used to
promote the brand and its offers (Nian, and Sundararajan,, 2022.).
Conclusion
It is summarized from above assessment that the marketing in department
that plays a crucial role in business. It is stated in report that the marketing in
brief that a better sound system planning and controlling assist in managing at
appropriate levels and through this declines investment in assets. It needs a
minimum assert of operations and lower finished inventory to provide
impressive user support. It also assist in practicing improved control over the
raw material.
References
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Terhadap Keputusan Pembelian Pada Restoran Rabeto Karawang.
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Gustika, N.D., Putri, S.H. and Putri, S.A., 2021. Insurance Companies and Multi
Level Marketing (MLM) Practices in Indonesia. Indonesian Journal of
Banking and Marketing Perspective, 1(1), pp.24-31.
Kapferer, J.N. and Valette-Florence, P., 2018. The impact of brand penetration and
awareness on luxury brand desirability:: A cross country analysis of the
relevance of the rarity principle. Journal of Business Research, 83,
pp.38-50.
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Kolesnik, T.V., 2020. Marketing communication strategies are in agricultural
business management. Annali d’Italia, (10-4), pp.25-35.
Lyeonov, S., and et., al., 2021. Green brand as a marketing instrument: principle,
features and parameters. International Journal of Global Energy Issues,
43(2-3), pp.147-165.
Nian, T. and Sundararajan, A., 2022. Social Media Marketing, Quality Signaling, and
the Goldilocks Principle. Information Systems Research.
Ranjit Raj, R. and Dutt, A., 2019, May. Proposing a Framework of Observe–
Hypothesize–Challenge–Resolve (OHCR) Teaching Moves for
Knowledge Construction in Marketing Pedagogy: An Abstract. In
Academy of Marketing Science Annual Conference (pp. 299-300).
Springer, Cham.
Salam, M.T., Muhamad, N.B. and Leong, V.S., 2019. Modesty in Islamic fashion
marketing communications in ASEAN. Muslim Piety as Economy:
Markets, Meaning and Morality in Southeast Asia, pp.169-188.
Septiana, N. and Firdaus, M., 2018. Strategi Komunikasi Persuasif Personal Selling
Anggota Paytren dalam Melakukan Network Marketing di Pekanbaru
(Doctoral dissertation, Riau University).
Weber, J.B.B., 2018. Marketing Influence on Body Image Perception: A Bioethical
Perspective. In Dermatology in Public Health Environments (pp. 1131-
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White, J., 2019. Johnson & Johnson hatches plan for marketing intangibles.
International Tax Review.
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