Business Management BMP4004: Analyzing the Marketing Mix Importance

This report provides an analysis of the marketing mix and its importance within the marketing process, with a focus on the 4Ps (Product, Price, Place, and Promotion). It begins by defining marketing and the marketing mix, followed by a theoretical explanation of the 4Ps. The report then introduces Mark and Spencer, a UK-based supermarket, and applies the 4Ps marketing mix to their women's fashionable clothing line, examining product quality, pricing strategies, distribution channels, and promotional activities. The analysis concludes that a well-managed marketing mix is crucial for building strong customer relationships and enhancing brand image, ultimately driving sales and profitability. The report emphasizes the need for companies to adapt their marketing strategies to meet evolving customer needs and preferences.

Business Management
BMP4004
Contemporary Issues in Marketing
The nature and importance of the
marketing mix within the marketing
process
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Contents
Introduction 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
5
Application of 4Ps marketing mix to the selected
product/service 5-7
Product 5
Price 5
Place 5
Promotion 5
Conclusion 8
References 9
2

Introduction
Marketing is defines as an technique or process which is utilized by organization for
increasing the popularity and sale of their product at higher rate. For increasing goodwill of
organization, higher authority used some effective strategies such as sales promotion,
allocation of budget, effective supply chain and others. Due to using these strategies
organization easily, achieved their vision, mission and objectives in short duration (Ali and
Muhammad, 2021). The chosen company is Mark and Spencer for analyzing the nature and
procedure of marketing mix. The company was founded in 1884 and is headquartered in
United Kingdom. It is the largest supermarket in UK and are dealing with wide range of
products which includes grocery items, home appliances, electronic products and others. This
report will cover explanation of marketing and marketing mix, theoretical explanation of 4P's
marketing mix. It also covers introduction of product/service, application of 4P's marketing
mix to the selected product and service. Due to the effective use of marketing profit of the
company are easily enhanced at large level in long term.
An explanation of marketing
In marketing effective strategies, digital platforms and advanced equipment's are
utilized by organization for increasing the awareness of their existing and new products. Due
to the use of different marketing strategies the reach of their services are easily enhanced to
all customer segments. In the process of marketing strong positive communication and
relationships are easily developed between employee and employer or employee and
customer for long period. Due to the use of digital platforms and updated equipment's
company are able to deliver the best quality service and product to their consumers in
accurate time. In context to Mark and Spencer, management must use official portals, latest
software and and various for displaying their product at wide range. With help of these
elements convenience are highly increased for customers to access the various types of
information regarding company services and products with in few time. The major benefit of
utilizing technology by organization is to sustaining their performance and productivity level
in positive manner for long duration.
An explanation of marketing mix
Marketing is defined as the group of actions which is applied by Mark and Spencer
for increasing the sale of their new and existing product in market. With help of these
technique organization easily target those customers who are highly beneficial for their
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product and services. Because due to maintaining good relations with all customer segments
communication and profit of firm are easily increased in short duration. In marketing mix
basically four stages are involved which includes product, price, place and promotion. The
mixture of 4P's strategy help the organization for run their departmental activities in smooth
manner. Mark and Spencer is one of the company who facilitates fashionable cloths and food
products to consumers according to their wants and desires.
A brief theoretical explanation of 4Ps marketing mix
As already mentioned above marketing mix refer to the group of actions in the firm of four
elements which includes product, price, place and promotion. With help of these elements
organization easily increased their work efficiency, potentiality and ability effectively.
 Promotion – In this stage management are mainly focused on various promotional
strategies for promoting their product in market and between customers (Ali and
Anwar, 2021). In relation to Mark and Spencer, authority must use some highly
effective strategies through digital platforms or in their store. It includes personal
selling, digital marketing, discount offers, advertising and others. With help of these
strategies wants and desires of consumers effectively increased for buying their
product at any cost.
 Price – It refer using various pricing strategies such as discounting offers and use of
competitive pricing strategy. Due to using this method customers are easily attracted
in large number. It leads to increase the visits of consumers in company store and
their official portals for long time. In context Mark and Spencer, price is a very
important point during the time of supply and sell their product in market. n
comparison with other competitors there their price are very high in their product
specially in woman cloths.
 Product – Here management are mostly focusing on increasing product availability
and also for delivering their product to customers in accurate time. In context to Mark
and Spencer, management must expand their operational activities and services in
form of establishing new stores in various locations. In this way convenience are
easily increased for customers for fulfilling their basic requirements easily. Due to
this the sales and popularity of their product are effectively increased at maximum
level for long duration.
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 Place – Place basically refer to choose suitable and reliable area by organization for
run their operational functions in smooth manner. In relation to Mark and Spencer,
management must establish effective supply chain and good infrastructure in both
online and offline mode. Due to maintaining proper infrastructure and effective
supply chain coordination between all levels of employee are easily sustained during
the time of running departmental functions and also at the time of producing good
quality product. Effective communication are also essential for analyzing and solving
the queries of customers quickly.
Introduction of product/service
The most popular and main product of this organization women's fashionable cloths
in market or between customers. The cloths which are highly fashionable between women's
are gloves, jackets, saris, skirts and others (Biró Sárosi-Blága and Székely, 2021). From the
above data it is understood that in market women cloths are highly beneficial and consumable
for organization which leads to increase their financial profit at maximum level in long term.
In today's time women is one of the customer who always buy cloths in large quantity during
the time of any function and occasion. It leads to increase the brand image of the company in
market for long time. In context to Mark and Spencer, they manufactured these type of
products in fashionable way according to the current trend and culture of various countries.
Due to the effective analysis of culture organization are able to easily understand that which
type of product are need by customers.
In aspect of service organization are used artificial intelligence and digital platform
for facilitating their product and services to customers in fast manner. With help of effective
technology basic needs of the consumers are easily fulfilled in time and also helps to enhance
the convenience of customers effectively. Due to increasing convenience of customers
effectively positive relationship positive relationship are easily sustained between consumer
and producer in long term. Due to keeping positive relations with customers popularity of
brand image and positive word of mouth are easily spread in market for long duration.
Application of 4Ps marketing mix to the selected
product/service
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Marketing mix is a group of actions which is used by company for selling their
product at maximum level to all customer segments especially to women's. According to this
tool product of the organization are sold in the basis of four marketing strategies which are
described below -
Product
In context to Mark and Spencer, fashionable cloths is the most popular product which
is already run in market with high profitability (Didi Alaoui and Cova, 2021). The main
reason for the popularity in their cloth product is that they always facilitate durable and
quality based product to their customers. In this way the positive image of firm are effectively
sustained in minds of customers for long duration. Therefore due to receiving quality high
quality service from consumers is very important for developing positive experience of users
at maximum level.
Price
In aspect of women cloths Mark and Spencer always keep high or middle price in
their goods. Due to maintaining this type of price in their product chances are easily increased
for reducing the brand value and sale of their product at higher rate. Therefore, it is
mandatory for Mark and Spencer that they must facilitate their products to women's at
affordable price which includes skirts, jeans, jackets, gloves etc. With help of this strategy
revenue and market share of organization are effectively increased within low time. By using
beneficial schemes and discounting offers consumers are easily attracted in large number for
buying their services
Place
It means selecting right and beneficial location which is preferred by Mark and
Spencer. Because with help of right location organization are able to develop strong
connectivity with suppliers and customers effectively. Due to having right location the range
of their services and products are easily enhanced at large scale. The other important factor
which is considered by organization during the time of establishing company in that
particular location is to get all types of facilities for producing the product and run the
business activities smoothly. The facilities which are required by company are water, raw
materials, electricity and others. Due to facilities company are able manufacture their
products in best quality. In aspect of marketing due to choosing right location convenience
are highly enhanced for customers to buy their product within low time.
Promotion
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It basically refer to promoting the new and existing product of organization at wide
range with help of using various strategies. Strategies includes digital marketing, sales
promotion, advertising, personal selling and others. Due to using these strategies awareness
of women's cloths and other products are effectively spread through online mode.
Technology includes check in and check out system, online portal, official websites and
others. It is also true that in various promotional activities women's are highly attracted
towards company products in short duration.
The main role of advertising is to promoting the product of organization in various
locations in same time (Jourdan and Pacitto, 2021). Advertising is the most common type of
promotional and it also it also comes under the category of paid form. The main benefit for
using this strategy by company is that in this process adds are repeated many times in various
devices. Devices includes hoardings, radios, television and others and due to repeating adds
in various devices features or specifications of company's product are effectively memorized
in minds of consumers. In this way the desires and wants of the customers are effectively
developed regarding their services and products in long term. Digital marketing is related
with online marketing which conducting by company in fast manner. Due to the effective use
of digital marketing various types of reliable information are easily shared with multiple
users. It means cost is very low in this process. Due to fast sharing of information customers
easily take final decision regarding their product quickly.
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Conclusion
After the analysis of above data it is concluded that marketing plays important for
company to build strong positive relationship between employee and employer or employee
and customer in long term. In market method the sale of women clothes are effectively
increased in comparison with gents because only women's are used these cloths at higher rate
in every function. With help of marketing and digital marketing desires and wants of the
customers are easily fulfilled in time. In the process of marketing employees are able to
identify the problems of customers in low time. After identifying the problems of users
effectively employees are able to facilitate solutions to users in quick manner. With help of
effective marketing strategies authority easily implement their various policies regarding
their product.
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References
Books and Journals
Ali, A. and Muhammad, K., 2021. Impact of Promotional Tools on Consumer Buying
Behavior: A Case of FMCG Industry. Journal of Marketing Strategies, 3(1), pp.44-
67.
Ali, B. J. and Anwar, G., 2021. The Effect of Marketing Culture Aspects of Healthcare Care
on Marketing Creativity. Ali, BJ, & Anwar, G.(2021). The Effect of Marketing
Culture Aspects of Healthcare Care on Marketing Creativity. International Journal of
English Literature and Social Sciences, 6(2), pp.171-182.
Biró A, Z., Sárosi-Blága, Á. and Székely, K. K., 2021. Conditions of Change: The Regional
Role of a Romanian Agricultural Secondary School. Corvinus Journal of Sociology
and Social Policy, 12(2), pp.87-105.
Didi Alaoui, M. and Cova, V., 2021. Psychological distance as a working tool for
managers. Recherche et Applications en Marketing (English Edition), 36(4), pp.43-
69.
Jourdan, P. and Pacitto, J. C., 2021. Determinants of commercial performance in the sector of
selective distribution of cosmetics worldwide: impact of the nature and age of the
retail brand, and of the number of stores. Management, 9(2), pp.104-110.
Lee, E., Kim, J. H. and Rhee, C. S., 2021. Effects of marketing decisions on brand equity and
franchise performance. Sustainability, 13(6), p.3391.
Lin, C. C. and Chang, C. H., 2021. Evaluating employee's perception toward the promotion
of safety marketing at ports. International Journal of Shipping and Transport
Logistics, 13(3-4), pp.275-299.
Nozari, H., Szmelter-Jarosz, A. and Ghahremani-Nahr, J., 2021. The Ideas of Sustainable and
Green Marketing Based on the Internet of Everything—The Case of the Dairy
Industry. Future Internet, 13(10), p.266.
Qaisar, F. S. and Muhamad, N., 2021. Internal marketing: a review and future research
agenda. Asia Pacific Business Review, 27(2), pp.267-300.
Saputra, A. J. and Djumarno, D., 2021. Effect Of Price And Service Quality On Customer
Satisfaction And Its Implications For Customer Loyalty At Aston Pluit Hotel &
Residence Jakarta. Dinasti International Journal of Economics, Finance &
Accounting, 2(1), pp.77-91.
Siripipatthanakul, S. and Nyen Vui, C., 2021. Dental practice-related factors and patient
loyalty in dental clinics, Laem Chabang, Thailand: The mediating role of patient
satisfaction. Dental Practice-Related Factors and Patient Loyalty in Dental Clinics,
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