Marketing Mix: Contemporary Issues in Marketing - Tesco PLC, UK

This report provides an analysis of the marketing mix and its importance within the marketing process, focusing on Tesco PLC and its potential introduction of plant-based meat products. It begins by explaining marketing and the marketing mix, followed by a theoretical explanation of the 4Ps (Product, Price, Place, Promotion). The report then applies the 4Ps framework to Tesco's potential new product, plant-based meat, detailing strategies for each element. The product section focuses on targeting health-conscious consumers, while the price section emphasizes affordability. The place strategy includes both online and offline distribution channels. The promotion strategy involves leveraging social media influencers and various advertising platforms. The report concludes that a well-executed marketing mix is crucial for Tesco to gain a competitive edge and effectively introduce new products to the market. Desklib provides access to similar reports and 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
Submitted by:
Name:
ID:
0

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
1

Introduction
Marketing refers to different set of activities that a company undertakes in the
business conduct in order to promote the selling and buying of services or product. This
process includes set of institutions, communicating, processes for creating, delivering and
exchanging offerings that value customers and clients (Lahtinen, Dietrich and Rundle-Thiele,
2020). Marketing mix refers to the process that majorly covers the four Ps that are proven to
be effective in process of marketing. This report covers the marketing strategy of Tesco PLC
to introduce new product in the market. Tesco PLC is a UK based multinational retail grocery
company which is currently the third largest retail organization in terms of gross revenue.
Further Marketing mix is applied on that new particular product in order to evaluate potential
of the product in market.
An explanation of marketing
Marketing refers to the process of creating, exploring and delivering values which
will help the organization in meeting the needs of target market. The objective of the business
is to promote a product in a most effective manner so that the company can earn good amount
of revenue from that particular product. Marketing include several components such as target
audience, themes, advertising campaigns, designing of products and packaging (Lim, 2021).
This is treated as one of the major component of commerce and business management which
helps the company in delivering objective. Marketing is considered as one of the most
essential task that helps the company in creating products and services and further selling
them to customers through research and methods of promotion. The function area of
marketing is dedicated to perform the function which are related to promotion and selling of
product. This department ensures that the products and values of business are well received
by customers. In context of Tesco, they have a full fledge marketing team who deals with
advertising, research and promotional areas. They come up with creative and effective
campaigns so that the customers can understand the ideology on which the business is
operating.
An explanation of marketing mix
The marketing mix refers to set of actions and tactics that the company uses in order
to promote its product or brand in market. This marketing mix is typically composed of 4Ps
which covers the major areas of industry and how these areas need to be maintained by
organization. Effective marketing is generally accomplished by Tesco, by doing an extensive
research along with keeping P’s in mind would help the company in exploring the several
2

aspects of the market (Kim and Kim, 2018). Focusing on marketing mix would help the
business in making strategic decisions on the new set of products and services that the
company is going to offer in the market. This scheme can also be applied on revised existing
products as there are changes in the product therefore the strategies also changes in the
business model. The different types of element of marketing mix work together in
conjunction in order to deliver the objective.
A brief theoretical explanation of 4Ps marketing mix
The four P’s of marketing mix represents the area in which the brand is required to
focus in order to maximize the sale of products and services in market. Product, Price, Place
and Promotion are the four P’s that the firm consider while making marketing strategies for
the new products and services. These four P’s are considered as key elements which are
united in order to effectively promote and foster the unique value for brand which will help
the organization in sustaining in business for a longer period of time. The first P that is
Product covers the details about the product and services that the company is looking to offer
in the market. It majorly includes the description of the product and the ways in which it is
different from other products that are there in market (Stead and Hastings, 2018). Price is
another P which is treated as one of the major component in the process of marketing which
contributes to customer acquisition in the business. Promotion refers to the process through
which the business is making customers aware about the services and products that they are
looking to offer in market. Place refers to the means through which the business is providing
products and services to the customers that is offline and online. Tesco uses these strategies
while introducing new set of products so that the marketing team can critically evaluate the
marketing areas in which the company need to improve. Applying marketing mix will help
Tesco in gaining a good competitive edge in market as the analysis would help them in terms
of strategies. This is one of the major tool that is used by the organization while introducing
new products in market, with this tool the company analyses the different areas in which the
business is required to master.
Introduction of product/service
New products and services that the company is looking to offer is analyzed with the
help of marketing mix model. Tesco is into a grocery retail industry and they have expanded
their operations internationally which helps them in generating good amount of revenue.
Tesco is looking to offer new set of product that is plant based meat in the market (Raewf,
Thabit and Jasim, 2021). As the vegan products are getting popular in the market, the need
3

for these products in the consumers are also increasing which will help Tesco to scale their
operations. Tesco is looking to expand their services in this sector so that they can take
advantage of the new changing lifestyle of people. If they are able to well promote the
product, then Tesco will have good chance of capturing the untapped market. Tesco is
looking to add new variety of products in their grocery model so that they can attract more
customers in the business. Plant based meat is a vegan product that comes with high source of
proteins and nutrients which is helpful and beneficial for the people who are on diet. Further
marketing mix is applied on the new range of products to ensure that the product is well
received by the customers.
Application of 4Ps marketing mix to the selected product/service
Product- This refers to the end product or service that the company is offering in the
market. Tesco is looking to expand their grocery product lines so that they can capture the
vegan market share in industry. Plant based meat is the product that the company is looking
to offer in the market so that they can capture the health conscious sector. The product that
Tesco is offering should be able to solve major problems that the customers are currently
facing. Plant based meat product that the company is offering should be able to offer the
client the same category of meat supplements. Plant based meat is a product which will
attract vegan fitness enthusiast who are looking for a supplement that will fulfil the need of
meat. The product offered by the company should be in attractive packaging so that the
customer can find it attractive and well relate with the industry and product.
Price- This refers to the price point at which the company will offer the product in the
market. This is one of the most crucial factor as this depicts the quality of product that the
company is offering in the market. It plays a major role as the customers decide their buying
decision based on the price at which the company is offering the product in the market. Tesco
is looking to offer the meat based products so that they can replace the non veg products and
serve the vegetarian customers (Othman and et. al., 2020). Tesco is looking to offer a
competitive price in the market so that they can sustain in the business for a longer period of
time. The price of plant based meat products must be affordable so that every middle class
family is able to afford and use that particular on a daily basis. Affordability of product
ensures customer retention which plays a major role in sustaining the product in environment.
Place- This refers to the distribution channel that the company is using in order to provide
customers with the products and services. Tesco has been in the retail grocery industry for a
long period of time and they have good online and offline stores that offer products (Mintz
4

and et. al., 2021). The new product that Tesco is offering is Plant based meat which is a
product that the company is looking to launch and offer in the online websites such as
company’s official website, grocery apps and amazon. The company will offer these set of
products on their offline stores as well so that they can capture a good share of market even in
the offline area. Tesco is looking to place their new product in their offline stores across UK
so that they can capture their current set of customers. Place is one of the major factor on
which availability of the product is determined, availability plays a major role in increasing
the profitability of business.
Promotion- This is the factor on which the main process of marketing is based, an
effective promotion strategy ensures that the business is well communicating the values and
product to the target market. Promotion plays a major role in attracting customers towards the
products and services. The organization uses several technique of promotion so that they can
aware the customers about the product that they are launching in the market (Dost and et. al.,
2019). Tesco will promote the Plant based meat on different platforms such as television,
social media channels and bill boards. Promoting is a way in which the business uses creative
set of ideas so that they can grab the attention of consumers. Plant based meat is one of the
innovative product that is not seen much in the market, an effective strategy of promotion
will boost the sales of this particular product. Tesco is looking to hire fitness social media
influencers so that they can target the right set of audience as fitness influencers have high
number of followers who are into health and fitness.
Conclusion
From the above report it can be concluded that marketing is one of the crucial factor
that is required in the business conduct in order to attract good customers. This is one of the
main function that the organization must focus in order to ensure attainment of objectives.
Marketing Mix is one of the major tool that is used by the organization in order to evaluate
the critical areas that help the company in getting a competitive edge in market. Marketing
mix covers the four Ps which are Price, product, place and promotion through which the
brand makes strategies in order to communicate their new product line to customers. The
above report concludes that type and quality of product plays a major role in deriving
customers in business. Price is another factor on which the customers decide the ability to
buy the product, promotion and place plays a major role as the customers get know about the
newly launched product with the help of these two factors.
5

6

References
Dost, F and et. al., 2019. Seeding as part of the marketing mix: word-of-mouth program
interactions for fast-moving consumer goods. Journal of Marketing, 83(2), pp.62-81.
Hossain, A. and Khan, M.Y., 2018. Green marketing mix effect on consumers buying
decisions in Bangladesh.
Kim, M.S. and Kim, J., 2018. Linking marketing mix elements to passion-driven behavior
toward a brand: Evidence from the foodservice industry. International Journal of
Contemporary Hospitality Management.
Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix. Testing
the effectiveness of the commercial marketing mix in a social marketing
context. Journal of Social Marketing.
Lim, W.M., 2021. A marketing mix typology for integrated care: the 10 Ps. Journal of
Strategic Marketing, 29(5), pp.453-469.
Mintz, O and et. al., 2021. The right metrics for marketing-mix decisions. International
Journal of Research in Marketing, 38(1), pp.32-49.
Othman, B.A and et. al., 2020. The effects on customer satisfaction and customer loyalty by
integrating marketing communication and after sale service into the traditional
marketing mix model of Umrah travel services in Malaysia. Journal of islamic
marketing.
Raewf, M.B., Thabit, T.H. and Jasim, Y.A., 2021. The Relationship between the Elements of
Marketing Mix and Consumer Behavior during Environmental Uncertainty. Cihan
University-Erbil Journal of Humanities and Social Sciences, 5(1), pp.50-55.
Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the
balance right. In Social Marketing (pp. 29-43). Psychology Press.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce: A stimulus-organism-response perspective. Internet Research.
7