BMP4004 - Marketing Mix: Nature, Importance & Application in Marketing

This report provides an in-depth analysis of the marketing mix and its importance within the marketing process, focusing on contemporary marketing issues. It begins by explaining the concept of marketing and the marketing mix, followed by a theoretical overview of the 4Ps (Product, Price, Place, Promotion). The report then introduces a new sustainable clothing line for Tesco and applies the 4Ps framework to this product, detailing strategies for each element. The analysis covers product development using recycled materials, competitive pricing strategies, placement in Tesco stores and online, and promotional activities including social media marketing and collaborations. The report concludes by emphasizing the vital role of marketing in influencing business operations and promoting new products, highlighting the use of competitive pricing and promotional activities to attract customers and gain a competitive advantage. Desklib offers this and many other solved assignments 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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Submitted by:
Name:
ID:
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
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Conclusion p
References p
Introduction
contemporary issues on marketing is the inclusion of comprehensive, effective
resources that offers the coherent understanding of presented issues in the
operational market. In addition to this marketers adhere these contemporary issues
In their business operations in order to develop the more effective marketing
practices as well as evaluate their business functions for the further extent. By the
mentioned practice marketing concepts are visualized more effectively that assist in
integrating marketing and further used such insights in improvising the profitability
(Ballesteros, 2021). TESCO is one of the biggest retail supermarket Giant in the UK
that offers the wide range of Grocery, electronics, clothing products in the
operational market. In addition to this the respected company also have the wide
range of in-house products that offers by them to cater the operational market more
effectively.
An explanation of marketing
Marketing is the process that used by the organization in order to promote their
product and service in the operational market more effectively. The mentioned
process includes the advertising, delivering and selling of product in the potential
market. In addition to this marketing plays one of the vital role in the organization
functions, as they assist them in order to understand the current scenario of market,
analyses the concepts of advertising to triggered the customer towards buying the
organization product. Therefore by the use of mentioned practice organization attract
the attention of the target market towards the marketing product. In regard to this the
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mentioned report will analyses the marketing concepts of TESCO in the below
mentioned discussion (De Mooij, 2019).
An explanation of marketing mix
marketing mix is the inclusion actions and Tactics that used by the in
organization to promote their product or services in the operational market more
effectively. In addition this the mentioned process basically highlight the 4ps that
make the typical marketing mix. Price, place, promotion and product. Moreover the
marketing concept is rapidly changing in order to attract the customer more
effectively towards the organizational functions. Therefore the marketing mix is also
evolved by 3 more Ps such as packaging, positioning and place. Hence the
marketing manager of organization focuses on these Ps in order to fain the
competitive advantage by attracting the right pool of customer towards the
organization functions. In addition to this, it assist the mentioned firm to enhance
their sales more effectively (Ferrell, Hartline and Hochstein, 2021).
A brief theoretical explanation of 4Ps marketing mix
 Product- The respected organization has the wide range of products such as
electronic, grocery, and clothing range. In addition to this all these products
are deploy in order to fulfill the requirement of the customers. In regard to this
all their product offers the valuation in the everyday life. In regard to this,
customer has the wide ranges of choices according to their budget and quality
preference. The marketer of mentioned business analyses the activities of
their customer more closely in order to increase their customer satisfaction.
Therefore, the mentioned business same product of different brands in order
to attract the customer of every background.
 Price- The mentioned business uses the cost leadership pricing strategy in
their operational function. In regard to this, the mentioned business performs
their operational function in the highly competitive market in which all he
competitors uses the unique and different precises to attract the customer.
Therefore in order to attract wide range of customer the management of
mentioned company developed the effective pathway to decrease the cost of
purchase and operational cost by just simply rising the economic scale.
Moreover the mentioned organization also deployed the club card system that
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can be used by the customer in earning the rewards points on every
purchases. These collective rewards point could be redeemed in the later
stages of purchase. The mentioned strategy is one of the successful provide
of mentioned business through which they created the strong and loyal bond
with their potential customer (Kotler, 2021).
 Place- The mentioned organization has the wide range of stores in UK that
assist the mentioned organization to get the advantage availability. In addition
to this the mentioned organization also have the effective e commerce
services through which customer can easily order their product from their
home. By the effective supply chain management and availability of product
assist the mentioned business to increase their chances of higher sales in
compare to their competitors (Kotler, Kartajaya, and Setiawan, 2021).
 Promotion- The mentioned business uses the social media marketing,
magazine marketing as well as also use the TV advertisement in order to
enhance the brand awareness in the large number of customer. Ion regard to
this the respected business also sponsors the charitable events that makes
them different in compare to its competitors. Moreover in order to influence
the sale in their store the respected business offers the attractive discounts
such as buy one get one free, through which customer got attracted and
conveniences to use their brand product and services.
Introduction of product/service
The mentioned organization is already serving the wide range of fashion
products to their customer. In addition to this the mentioned organization offers the
unisex clothing range to attract the wide pool of customer. In addition to this the
mentioned report will highlight the new range of clothing that made from sustainable
approaches in regard to save the environment. In addition to this, the new clothing
segment will use the recycle material to develop the more sustainable clothes. Thor
ugh such process the land degradation could also be decreases, which mainly
harmed by the fast fashion industry. Therefore, the main marketing concept is to
offer the fashionable designing clothing range on a justified price, which will be
developed by environmental friendly practices.
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Application of 4Ps marketing mix to the selected
product/service
Product
The mentioned clothing range will be use the effective sustainable practices
such as recycle material, use of plastic by the technological process assist the
mentioned business functions in order to develop the sustainable clothing range.
Therefore, such process could plays one of the vital role in order to attract the
environment conscious customer and those one which are looking for the
substitution. In addition to this various kinds of attire will be developed such as
sweatshirt, shirts, women cardigans etc. In addition to this, the process of forming
the mentioned product will also highlight on the official website in order to make the
more transparency and integrity in the operational functions. Moreover, attractive
packaging will be also create in order to attract the large number of customer that
influence by the attractive labeling and packaging on the clothing product (Lim,
2021).
Price
The business can adopt the competitive pricing strategy in their operational
functions in order to establish their new product in the competitive market. As there
are number of established competitors already in the mentioned operational market,
therefore in order to perform the effective function the mentioned pricing could assist
to perform more effectively. In addition to this, it will also facilitate the mentioned
business in order to better display their product. In addition to this, the mentioned
business can deploy various offers on their new range of products such as extra
discount on buying more clothing range of product (Ndofirepi, Farinloye, and Mogaji,
2020). In addition to this, the marketer of the respected firm will also focuses on their
competitors move in regard to their pricing strategy. Therefore, by getting the reliable
insights will assist in order toke the more effective moves in the term of prices for the
sustainable product.
In order to influence the sale in the operational market and attract the
customer towards the products, the mentioned business will offer the various sale
promotions to their customer in order to make the effective sale funnel thorough their
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pricing strategy in the operational market. As the mentioned already have the price
promotional strategy, which is club card system could use in the product range. In
addition more rewards point will be offer to the customer which choose the
sustainable clothing. Further there points can be easily red meed in their future
purchases. Hence, by the above mentioned practice the respect business can easily
develop the more loyal fan base for their operational functions.
Place
The above mentioned product range will be deliver in all the stores of the
TESCO as well as attractive display will be implied in order to highlight the product
more specifically. In addition to this, it will assist the mentioned company in order to
cater the large pool of customer towards their newly launched product range.
Moreover the mentioned organization also has the effective supply chain
management through which all the distribution of these products on their place will
be become more easier. Hence, it will assist the organization in order to fulfill the
influence demand of the customer more effectiveness as well as facilitate them in
order to achieve the derived goals more productively.
The respected business also have the highly integrated customer intrinsic
app, thorough which customer can order the mentioned product at their home. In
addition to this the mentioned organization also offers the tracking facilities to their
customer through which they can easily track their order status more effectively.
Therefore, these practices plays one of the vital role in order to develop more
customer intrinsic services that assist in attracting therm towards the mentioned
business functions. Moreover the mentioned business also offers the online payment
services as well as through which cash less payment can be initiated more smoothly
on their e-commerce app as well as on their stores. Therefore, it decreases the
threat of transmission of diseases. Hence all these practices that offer by TESCO on
their app and store facilitate them to develop more sales (Paley, 2021).
Promotion
The mentioned organization already has the strong marketing channel that clearly
derived the above mentioned discussion. In addition to this by developing the
attractive video content in regard to the sustainability and environment concern will
assist in creating the more fan base for the new product. In regard to this the
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mentioned organization can develop the more effective campaign by collaborating
with the influence. Therefore, such practice could facilitate the mentioned
organization I order to get the more customer rush as well as can convert these
customer into loyal one by their quality of products. In addition to this by taking the
parts in environmental events could helps them in better connect with the customer
that are looking of the company that are more concern about the environmental
practices. In addition to this by the use of digital marketing tools and techniques
more potential customer can be shifted towards the organization functions which will
ultimately assist in increasing the revenue of the organization (Shchepakin, and
et.al., 2018).
Conclusion
from the analysis of above discussion it is clearly stated that the marketing
plays one of the vital role in order to influence the business operations in the
targeting market. In addition to this, the above discussion stated the importance of
marketing mix in the context of the mentioned organization business activities. In
addition to this it assisted the mentioned business to get their new developed
product promoted in the new operational market. In addition to this, it highlighted that
the respected business will be use competencies pricing strategy in order to get thew
competitive advantage as well as attract the more new customers towards the new
range of products. Moreover, the report also stated the promotional activities that
can assist the respected firm in order to develop the loyal customer base by
increasing their reach in the new potential market.
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References
Ballesteros, 2021. Plan de marketing. Diseño, implementación y control. Marge
Books.
De Mooij, 2019. Consumer behavior and culture: Consequences for global
marketing and advertising. Sage.
Ferrell, Hartline and Hochstein, 2021. Marketing strategy. Cengage Learning.
Kotler, 2021. Marketing para o século XXI: como criar, conquistar e dominar
mercados. Alta Books.
Kotler, Kartajaya, and Setiawan, 2021. Marketing 5.0: Technology for humanity.
John Wiley & Sons.
Lim, 2021. A marketing mix typology for integrated care: the 10 Ps. Journal of
Strategic Marketing, 29(5), pp.453-469.
Ndofirepi, Farinloye, and Mogaji, 2020. Marketing mix in a heterogenous higher
education market: A case of Africa. In Understanding the higher education
market in Africa (pp. 241-262). Routledge.
Paley, 2021. The manager's guide to competitive marketing strategies. Routledge.
Shchepakin, and et.al., 2018. Marketing tools of innovation development
management. Espacios, 39(31), pp.9-9.
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