Analysis of Marketing Mix Elements in Event Management Strategies

This assignment analyzes the marketing mix elements commonly included when discussing events. It begins by defining the marketing mix as a set of tactics used to promote a brand or product, focusing on the traditional 4Ps: Product, Price, Place, and Promotion. The paper expands on this by including other relevant P's such as Packaging, People, Positioning, and Politics. Each of the 4Ps is then discussed in detail, with the price referring to the value of the product, the product itself being the commodity for sale, the place being the point of sale, and promotion encompassing activities to make the product known to customers. The assignment emphasizes the importance of these elements in attracting customers and ensuring business success, referencing how pricing strategies, product quality, location, and promotional activities contribute to the overall marketing strategy. The paper also provides a list of references to support its arguments.

Running head: - MARKETING MIX
MARKETING MIX
Name of the Student
Name of the University
Author Note

1MARKETING MIX
Table of Contents
Question-1..................................................................................................................................2
References..................................................................................................................................4

2MARKETING MIX
Question-1
Analyse marketing mix elements commonly included when discussing events.
Marketing mix commonly is a collective set of procedures or might as well place
forward the meaning of the tactics that a specific business organization or a firm might
properly utilizes towards the promotion of a brand or a particular product within the existing
market. The 4P’s of marketing mix typically comprises of Product, Price, Place as well as
Promotion that forms a primary component of the marketing strategy aligned towards the
success of a particular business organization operating within the field of market (Rahman &
Kuzminov 2019). However, in reference to the current situation, the marketing mix has been
visibly identified to have a specific increase having the primary inclusion of several other
existing P’s such as the likes of Packaging, People, Positioning as well as Politics.
The primary four components of the marketing mix, which shall be considered by a
specific enterprise to increase as well as enhance their business along with specifically
attracting newer customers to the organization have been mentioned below.
Price
Price commonly refers to the particular value that is primarily placed towards the
product belonging to a respective business organization. This includes a total dependency
upon the costs related to the procedure of production, ability for the market to make
payments, segmentation of target as well as supply along with the demand belonging to direct
as well as the indirect factors in particular (Dolnicar, Grün & Leisch 2018). There is the
existence of several types in regards to the strategy for pricing having a partial dependency
upon the business plan. Pricing also has the ability to be utilized as demarcation for the
differentiating as well as enhancing of the image related to a commodity.

3MARKETING MIX
Product
This specifically is considered the commodity that is being placed on sale by the
respective business organization in the market. The product shall have a minimum
performance level, keeping the fact clear that other components of the marketing mix will not
efficiently perform without this.
Place
This commonly is the point of sale. Within every individual industry, attracting a
specific customer as well as making it an easy process to pay revenue for the product is the
primary aim for a good business as well as the strategy related to ‘place’. In this scenario, the
retailers make payments additionally for a favourable location (Filbert & Anthony 2018). In
this regard, the primary reason behind running a successful business or retail within the field
of market refers to the primary inclusion of a prime location that will be easy for the
customers to reach and hence, increase the sale of the product as well.
Promotion
Promotion commonly refers to all of such activities that are being undertaken towards
the product to make it known to the customers or the users situationally. This particular
activity has the primary inclusion of various components such as the likes of advertising,
press reports, word from mouth, commissions as well as awards belonging to the trade
(Resnick et al., 2016). This can also have the inclusion of consumer schemes, contests, direct
marketing as well as contests that might be organized by the respective business organization
to let the customers know of the new products.

4MARKETING MIX
References
Dolnicar, S., Grün, B., & Leisch, F. (2018). Step 9: Customising the Marketing Mix.
In Market Segmentation Analysis (pp. 245-254). Springer, Singapore.
Filbert, A., & Anthony, W. (2018). The Impact of Marketing Mix of 4Ps (Product, Price,
Place, and Promotion) towards Repurchase Intention with Customer Satisfaction as
the mediator: In the Case of Uniqlo. iBuss Management, 6(2).
Rahman, M. M., & Kuzminov, A. N. (2019). MARKETING MIX AS A SOURCE OF
INCREASING THE EFFICIENCY OF MARKETING ACTIVITY.
In СОВРЕМЕННЫЕ ПРОБЛЕМЫ НАУЧНОЙ ДЕЯТЕЛЬНОСТИ.
ПЕРСПЕКТИВЫ ВНЕДРЕНИЯ ИННОВАЦИОННЫХ РЕШЕНИЙ (pp. 66-68).
Resnick, S. M., Cheng, R., Simpson, M., & Lourenço, F. (2016). Marketing in SMEs: a “4Ps”
self-branding model. International Journal of Entrepreneurial Behavior & Research.