BMP4004 - Marketing Mix: Contemporary Issues in Marketing Report

This report provides a comprehensive analysis of the marketing mix and its importance within the marketing process, focusing on the 4Ps (Product, Price, Place, Promotion). It begins with an explanation of marketing and the marketing mix, followed by a theoretical overview of the 4Ps. The report then applies these principles to TESCO, a multinational grocery and consumer goods company, examining how TESCO utilizes each element of the marketing mix in its business strategy, particularly within its clothing sector. The analysis covers product development, pricing strategies, distribution channels, and promotional activities, highlighting how TESCO aims to satisfy customer needs and maintain a competitive edge. The conclusion summarizes the key findings, emphasizing the critical role of the marketing mix in business growth and strategic planning. Desklib offers a variety of solved assignments and past papers to aid students in their studies.

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
Contents
Introduction 3
1

An explanation of marketing 3-4
An explanation of marketing mix 4
A brief theoretical explanation of 4Ps marketing mix
5
Introduction of product/service
5-6
Application of 4Ps marketing mix to the selected
product/service 6-7
Product 6
Price 7
Place 7
Promotion 7
Conclusion 8
References 9
2

Introduction
Marketing refers to the using of the different kind of advertisement and
promotional activities in order to sell the products and services of the company. It is
undertaken by the business organizations to promote the products of the companies
through which they get large number of customers for their business (Wang, 2021).
Int this report element of marketing mix will also be discussed. It is a framework that
include 4 P's which helps the companies to find out the best product of the company
to use in promotion. It also facilitates the business organization in finding the best
place that where they can advertise their product. This report is based on the
TESCO brand, it is a multinational grocery brand that is based in Welwyn Garden
City, London. It was founded by Jack Cohen in 1919. TESCO mainly operates in the
consumer goods industry. This report includes the theoretical definition of marketing
that helps in the business firms to use various types of promotion techniques. This
report contains the explanation of marketing mix that helps the companies in making
effective strategy for the expansion of their business. It includes the 4 P's of
marketing mix. Introduction of new products and services of the company will also be
discussed. There will be the practical applicability of the 4 P's of the marking mix in
relation to the company.
An explanation of marketing
Marketing can be defined as the use of various promotional and advertisement
techniques through which the business organization can sale their products and services in
the market. It is the process to targeting and selecting the potential customers for the
business. It is wide term as it includes huge level of research, promotional activities, and
distribution of the products and services to the customers (Kamps and Schetter, 2018). It
Is a action that is undertaken by the companies In order to attracts the more number of
customers for the business. Marketing also helps the business to give knowledge about the
products and services of the companies. There are various types of marketing tools through
which a company can advertise their products and services in the market. In this modern era
of technology, it is very important for the companies to use effective and efficient
platforms in order to promote their products. There are various tools for advertisement
available in the market that is internet marketing, blog marketing, social media marketing,
video marketing etc. These tools can help the business to reach more and more customers
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in the market. Through using these techniques of promotions business firms can capture
huge share in the market.
An explanation of marketing mix
Marketing mix referred to as the techniques, tools or strategies that are used to
make the marketing plan. This is used to attract more and more number of customers for
the business. It facilitates the business to target the appropriate and potential market for
the business and also helps in creating the brand image for the company. These strategies
are used to make a specific plan for the business that how the marketing and advertisement
activities will be carried out in the business. Marketing mix is dependent on the ideas of the
4 P's that is used to carry out the promotional activities. These elements helps the firms that
how to advertise the products in the market and how to get core customers for the business
(Rauschnabel and et.al., 2022). These four P's are referred to as price, promotions, place
and product. These tools plays an very important role in building the image of the business.
It helps the business firms to deciding the reasonable price for their product so they can get
large number of customers. Marketing mix helps the companies to make a effective
marketing plan for the business to increase the sales and operations of the business. It also
tells the organization to keep an eye on the advertisement techniques of the competitors
through which they can easily survive in the market by using effective promotional
techniques. This strategy helps the companies to make changes in the product range of the
company. Marketing mix helps the organization to run their business effectively which
results in more generation of profits.
A brief theoretical explanation of 4Ps marketing mix
Product
Products refers to the number of goods and services that is to be offered to the
customers of the business. It includes designing of the product and product that is being
offered in the market should satisfy the needs and wants of the customers.
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Price
This means deciding of the cost that the consumer will pay in return of the product
(Quach and et.al., 2020). In this the marketer analyses the price for the product in
relation to the value that is derived form the products or the services.
Place
This element of four P's is focused on choosing the appropriate place for the
business. This means where the product will be sold orc how the product will be delivered
to the customers in the market (Kotler and et.al., 2020). Selecting of the distribution of
channels also comes under this as business firms select the effective channel to deliver the
products to the customer fast.
Promotion
This element of 4 P's focus on choosing the best advertisement and promotional
techniques that helps in increasing the sales of the business. This helps in identifying the
potential market and consumers where they can expand the operations of the business.
Introduction of product/service
TESCO is a multinational grocery brand and have operations in many countries. They
are the third largest retailers across the world. They have operations in many sectors like
clothing, furniture, financial services, petrol etc. They have supermarkets across the UK and
they serve different variety of products like drinks, bakery, baby products, clothing, frozen
foods, beauty products etc. TESCO has supremacy in clothing filed as they sell the best
quality of clothes to their customers. They have variety of clothes for the all age groups
(Wirth, 2018). They sell ready made as well as unstiched clothes. They keep on introducing
the new fashionable products and attractive clothes to their customers through which they
can satisfy the needs of their customers. They use new stitching machines and techniques to
make clothes which produce the fine quality of product. They can attract lot and lots of
customers as they regularly provides discounts on the clothing products and new schemes.
They sell the best quality clothes at a very reasonable price which helps them in attracting
lots of customers toward their business. It helps them to increase their sales through which
they maximizes their profit and it helps them in expansion of their business activities.
5

Application of 4Ps marketing mix to the selected
product/service
Product
Product means the goods and services of a company that is offered to the
market. This element of marketing mix focus on to satisfy the needs of the customers
by providing the valuable products or services. TESCO have a huge variety of
clothes and they cater to every class of the market. They regularly introduces the
new designs and pattern in the market. They also conduct various surveys in market
to find out the new needs of the customers. They have all variety of clothes in the
company which helps them to focus on all age groups (Reyes, ed., 2020). This have
specialty in making clothes and this section is very important for TESCO as it
generates a good percentage of profit for their company. Quality department of
TESCO ensures that they should use the best quality thread through which fine
clothes could be made. While buying a clothes customer expect to get better quality
products from the manufacturers on the other hand TESCO assures that their
customers should get fine quality of product.
Price
Price means the value that will be charged from the customers in exchanging
of the products and services. This means selecting the appropriate price for the
product that is to be offered to the customers in the market. Prices of the products
are selected after considering many factors that are present in the market. This
element helps in competing in the market. This point focuses on making the effective
price strategy for the business in order to capture the huge share in the market.
TESCO uses this strategy very effectively as they have the clothing products for
every class of the market (Pedersen, 2021). They set price according to the different
quality of the products and they deal in the cheap as well as premium quality of
clothes. This helps them in attracting both middle and upper class of people to their
business. Sometimes they faces difficulty in surviving in the market so for that they
use the effective price strategy through which they give various types of discounts on
the clothing products.
6

Place
Place refers to selecting the market place where the products and services of
the company is to be offered to the customers. This element also consider that how
is the product will be delivered to the ultimate consumers. In this element companies
decide the channel of distribution through which they can deliver the products to
remote areas as well. Companies ensures that they should use the cost effective &
fast channels through which they can deliver the product in a less time. TESCO
select the effective distribution channel for the transportation of their clothes products
to the ultimate consumers (Ferrell, Hartline and Hochstein, 2020). They maintain a
big network for the delivering of their products through which they can target the
remote areas as well. TESCO have also opened big stores in the malls and markets
across UK which gives the facility to their customers to buy directly from there.
TESCO also provides the facility of online purchasing to their customers as they
have their personal app and website for clothing segment. This helps their customers
to shop their clothes from the home through online platform.
Promotion
Promotions includes various types of advertisements, promotional activities that
helps the business to grow in the market. This helps to more share in the market. It is the
main element of the marketing mix as it facilitates the business to chose the effective way
for promoting the products and services in the market. There are various types of
advertisement techniques through which companies can advertise their products in the
market. This element is also used by the organizations to give the information about the
products and services in the market. TESCO uses various techniques of promotions in order
to increase the sales of their company (Kumar and et.al., 2019). They spend lots of their
funds on marketing their clothing products as they have the best quality products. They use
various social media platforms to advertise their products in the market. This element of
marketing helps the company to reach more and more customers and helps in generating
more profits for the business.
Conclusion
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From the above report, it can be evaluated that in today's era marketing is
very much important for the business. In above report the role and importance of
marketing have been discussed. Various elements of marketing mix have also
consider in this report which helps the business to make effective marketing plan for
the business. Introduction of the products and services of a company have also been
discussed. This can be analyzed that 4 P's of marketing plays major role in the
growth of the business. There is a practical applicability of 4 P's of marketing mix
have been taken into account in relation to the specific company.
References
Ferrell, O.C., Hartline, M. and Hochstein, B.W., 2021. Marketing strategy. Cengage Learning.
Kamps, I. and Schetter, D., 2018. Performance marketing. Springer Fachmedien Wiesbaden.
Kotler, P and et.al., 2021. Marketing management: an Asian perspective.
Kumar, V and et.al., 2019. Understanding the role of artificial intelligence in personalized
engagement marketing. California Management Review, 61(4), pp.135-155.
Pedersen, C.L., 2021. Empathy based marketing.‐ Psychology & Marketing, 38(3), pp.470-
480.
Quach, S and et.al., 2020. Toward a theory of outside-in marketing: Past, present, and
future. Industrial Marketing Management, 89, pp.107-128.
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Rauschnabel, P.A and et.al., 2022. What is augmented reality marketing? Its definition,
complexity, and future. Journal of Business Research, 142, pp.1140-1150.
Reyes, M. ed., 2020. Consumer behavior and marketing. BoD–Books on Demand.
Wang, C.L., 2021. New frontiers and future directions in interactive marketing: inaugural
Editorial. Journal of Research in Interactive Marketing.
Wirth, N., 2018. Hello marketing, what can artificial intelligence help you with?.
International Journal of Market Research, 60(5), pp.435-438.
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