BSc Business Management - Marketing Mix in Marketing Process

This report provides an in-depth analysis of the marketing mix and its significance within the marketing process, focusing on Morrisons, a major UK supermarket chain. It begins by defining marketing and the marketing mix, then delves into a theoretical explanation of the 4Ps (Product, Price, Place, Promotion). The report then applies the 4Ps framework to Morrisons, examining their product strategy (emphasizing fresh food and manufacturing facilities), pricing strategies (premium and promotional pricing), place strategy (extensive store network and supply chain control), and promotion strategies (utilizing various channels like YouTube, social media, and TV). The analysis demonstrates how Morrisons leverages the marketing mix to influence customers, drive sales, and maintain a competitive advantage. The report concludes that the marketing mix is crucial for businesses to effectively manage their offerings, reach their target audience, and achieve organizational goals. Desklib provides similar solved assignments and past papers for students.

BSc (Hons) 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 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 process of exploring, creating, and delivering value to meet
the needs of a target market in terms of goods and service by including target
audience. To influence number of people in target market is possible through
marketing which is adopted by business concern in order to attain business goals
(Han, 2020). The report is based on Morrisons that is the fourth largest chain of
supermarket in the United Kingdom. The organization is providing range of products
and services where marketing plays important role to influence number of people
and sale kind of products. Marketing is the most important activity on which all
businesses are based as it understand what people is demanding and introduce kind
of products for the purpose of providing high level of satisfaction. This also helps to
bring changes in their existing performance. The aim of each organization is to
increase sale by increasing number of customers and attain higher productivity. The
marketing management have good skills and talent to affect individual and increase
organizational sales. The report involves marketing, marketing mix, introduction of
product/ service and application of 4 p’s that supports to develop organizational
performance.
An explanation of marketing
Marketing is the continue process of influence and attract number of people
towards organizational products which can help to develop organizational
productivity. In other words, marketing refers to activities an organization undertakes
to promote the buying or selling of a product or service. This is important for each
organization to identify what people wants and how they could be satisfied so that
kind of products and services are provided accordingly. This includes advertising,
selling, and delivering products to consumers or other businesses. If there is no
marketing then it will be difficult for company to operate their business as it create
challenges of competition in market. Marketing is used by company for managing
and introducing their products and services in changing market and helps to reach
organizational goals. For example, Morrison is the large size organization that sales
range of products and services by using marketing functions as it helps to introduce
different types of products and services which can help to reach targeted customers
and attain higher productivity (Nasir, Roslin, Nasir, and Nasir, 2020).
An explanation of marketing mix
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Marketing mix is a model for businesses, historically centered around price,
product, place, and promotion used by company to operate their business which can
help to develop organizational performance. In other words, marketing mix is the
combination of factors that could be controlled by an industry to influence consumers
to purchase its products. It is a marketing tool designed to develop the purchasing
habits of customers by improving all details such as product, price, place, promotion
and others. This can help to bring changes in existing performance and supports to
attain business goals. Focusing on marketing mix is helpful to organization as it
make strategic decision while launching new and revising existing products. This can
help to bring new changes in existing products and influence people to buy kind of
products that provide high level of satisfaction. For example, Morrisons can be use
marketing mix for introducing new products and services in market by managing all
functions and activities that can help to develop organizational productivity and
profitability (TEKU, 2020).
A brief theoretical explanation of 4Ps marketing mix
Marketing mix is the wider term to understand as it used by all organizations
for the purpose of running their business and attaining goals. This is important for
each industry to identify what people wants and how they involves to each function
and activity in order to operate their business. Marketing mix is used by company to
introduce something new and attractive which can help to fill demand and provide
satisfaction level. The marketing mix consider product/service, price, place, and
promotion that are introduced by management for the purpose of accomplishing
business goals by bringing changes in existing products as well as service. The
explanation of factors in context to marketing mix is defined below:
Introduction of product/service – This means tangible and intangible assets
which introduced by company to their customers for the purpose of smooth business
operation. A company based on different types of products and services which
influences number of people and managing all activities effectively. If organization is
not providing products then it will be challenging to operate their business and
generate profits. Products are tangible which can see and hold while service is
intangible can only be experienced.
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Introduction to price – This can be explained as amount of money expected,
required or given in payment for something. While offering different types of products
and services price matter a lot as it set people’s mind and encourage making buying
decision. If price is not effective and suitable to customers the could be challenging
to regulate or continue their business operation. In other words, price mix is the
consideration for the sale of specified thing that influence number of people and
supports to develop organizational productivity (Tong, Luo, and Xu, 2020).
Introduction to place – This can be explained place strategy in which
organization decides how to distributes to the products and services for the purpose
of reaching to their targeted customers. A place refers to particular position, point, or
area which is used by business concern to make products easy available to their
customers. This is important for each organization to select a best location and place
where people could reach easily to products and services. This can help to develop
organizational sales and productivity continuously.
Introduction to promotion – In marketing mix, promotion refers to any
marketing communication activity used by business concern to inform target
audience of the relative merits of a product, service, and brand that can help to
develop organizational productivity. In other words, promotion is the activity of
introduce and promote their products as well as services which can help to attract
number of people and supports to develop organizational performance. This is
important for each organization to introduce kind of products by using advertisement,
you tube, social media, posters and others which can help to reach targeted
customers easily and maintain higher level of satisfaction (Mushtai, 2019).
In above section discussion of marketing mix has been done which helps to
understand that factors are most important for each organization as it introduce kind
of products and services by influencing number of people. This also helps to bring
changes in existing products and services which are provided to their customers.
This is suggested to everyone to focus on marketing mix and follow all factors so that
it could operate its business effectively.
Application of 4Ps marketing mix to the selected
product/service
Product Strategy – Morrisons is a value led grocer and focused on fresh
food. This organization provide range of products and services to their customers by
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identifying their needs and wants. It has seen that high quality and fresh food is the
success point which can help to bring changes and maintain higher performance.
Morrison sales fresh products as it have own manufacturing facilities which supports
to operate a business regularly. The products which is providing by selected
company are grocery, eatable items, crockery, and many more that fill customer
demand and encouraged people to make buying decisions. The selected company
prepared and delivers fresh products as well as services that supports to develop
organizational productivity (HUNELEGN, 2019).
Price
Price is the biggest factor which is used by business concern for the purpose
of influencing number of customers and develops organizational performance.
Morrisons continuously improves their customer offering through lowering their
prices and providing better quality of products and services. By analyzing the market
and price factor it became important to influence number of people and encourage to
make buying decisions. Morrisons uses premium pricing stra tegy, and promotional
pricing strategy in which it charge high prices of better quality of products which can
help to develop organizational productivity and profitability. This company focuses on
factor like quality, range, ease of shop and service which help customers to make
decision and attain higher profitability (Batat, 2019).
Place
This factor is needed to select best location that create presence among
people and maintain higher performance. Morrisons serves across the UK and have
physical evidence in the form of 660+ stores, of which 150 + are convenience stores
with around 117, 000 employees. It has wide geographic presence in the place and
distribution marketing mix strategy which can help to improve organizational sales
and productivity. The company is second largest fresh food manufacturer in UK. The
company operates and controls great portion of the fresh food supply chain where
most of the food sold in retail stores. The company operates and control high portion
of fresh food supply chain, where most of the food sold online and in retail stores
(Hapsa, 2019).
Promotion
Promotion is the main factor of marketing mix which is applied by Morrisons in
order to influence and attract number of customers. This is important for each
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organization to promote their products and services by using different method of
promotion that can help to influence number of people to identify their needs and
make buying decision. If there is lack of promotional activities and functions then it
could be challenging to operate their business regularly. In relation to Morrisons, you
tube, social media, digital marketing, advertisement, T.V. and others are used to
provide details and information about particular product and services which can help
to develop the organizational productivity and performance.
From the above it could be explained that Morrisons is operating its business
by offering range of products at premium prices and selecting best location which
can help to develop organizational productivity and profitability. This helps to bring
changes in existing performance and complete the task in order to accomplish
business goals.
Conclusion
From the report it can be concluded that marketing is important aspects which
is sued by company to influence number of people and sale them different types of
products or services. Without marketing it became difficult for company to operate
and regulate their business continuously as it create challenges to manage all
products and services. Marketing mix is the combination of factors such as product,
price, place, and promotion used by company in order to provide better quality of
products and services. This can help to increase the organizational productivity and
profitability by adopting changes and maintain higher performance. Morrisons is
Britain’s second largest company that offer range of products and services to their
customers and attain the competitive advantages.
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References
Han, S. M., 2020. Analysis of differences in satisfaction of exhibition space according to
characteristics of artists using marketing mix 7P. Journal of the Korea Convergence
Society. 11(8). pp.123-129.
Nasir, N. F., Roslin, R. M., Nasir, M. A. and Nasir, M. N. F., 2020. Marketing strategies from
the Islamic Perspective: Reviewing the relevance of elements of the marketing
mix. Journal of Emerging Economies and Islamic Research, 8(3), pp.84-96.
TEKU, T., 2020. ASSESSING THE INFLUENCE OF MARKETING MIX ELEMENTS ON CUSTOMER
SATISFACTION:-THE CASE OF DASHEN BREWERY SC IN ADDIS ABABA (Doctoral
dissertation, ST. MARY’S UNIVERSITY).
Tong, S., Luo, X. and Xu, B., 2020. Personalized mobile marketing strategies. Journal of the
Academy of Marketing Science, 48(1). pp.64-78.
Batat, W., 2019. Experiential marketing: Consumer behavior, customer experience and the
7Es. Routledge.
Hapsa, H., 2019. The Relationship of Marketing Mix With Patient Loyalty At Inpatient Unit Of
Undata General Hospital. Preventif: Jurnal Kesehatan Masyarakat, 10(1), pp.13-23.
HUNELEGN, K., 2019. THE EFFECT OF MARKETING MIX STRATEGYTOWARDS PROFITABILITY
IN THE CASE OF TEFF MILLING INDUSTRY SUB-SECTORS IN ADDIS ABABA (Doctoral
dissertation, st. mary's University).
Mushtai, V., 2019. Planning marketing activities of the enterprise.
Han, S. M., 2020 Nasir, N. F., Roslin, R. M., Nasir, M. A. and Nasir, M. N. F., 2020 TEKU, T.,
2020. Tong, S., Luo, X. and Xu, B., 2020 Batat, W., 2019 Hapsa, H., 2019 HUNELEGN, K., 2019
Mushtai, V., 2019
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