Marketing Mix Report: Pricing, Promotion Strategies and Implementation

This report provides a comprehensive analysis of the marketing mix, emphasizing the roles of pricing and promotion in achieving business objectives. It explores the significance of pricing in relation to competition and cost offset, particularly in the context of online sales and the elimination of intermediaries. The report details the aims and measurement of promotional campaigns, including brand awareness and lead generation, while also addressing the regulations governing promotional activities. Furthermore, it examines the role of pricing in gaining a competitive advantage and influencing consumer perception. The report concludes by highlighting the importance of a well-coordinated marketing mix, encompassing pricing, promotion, and physical evidence, to enhance consumer experiences and drive organizational growth. The report also references key academic sources to support its findings.

The Marketing Mix
(TASK 2)

Table of contents
• Introduction
• Use of pricing
• Use of pricing to offset the costs of product manufacturing
• Aim of promotion in the marketing mix
• Promotional campaign is measured
• How promotional activities are regulated
• Role of price in that organisation’s marketing mix
• Role of promotion in that organisation’s marketing mix
• CONCLUSION
• REFERENCES

Introduction
Marketing mix is an important foundation model of business that
consisted the marketing tools and techniques that helps to business in
pursue marketing goals and objectives. In marketing mix broadly the
four marketing decisions consist that are product, price, place and
promotion.

Use of pricing
Pricing in the marketing mix is very much important to affix one of
best pricing that helps to beat competitors and enhance level of sales in
positive manner. In context of Hard guilt tools while eliminating the
role of intermediaries and while adopting online mode of selling they
select one of best price to remain always competitive in the
marketplace.

Use of pricing to offset the costs of product
manufacturing
Pricing plays very crucial role to offset cost of production of product
and services for that organisation have to change the way of
transaction, by paper assessment and use the financial strength of
organisation to reduce the cost of product manufacturing in positive
manner.

Aim of promotion in the marketing mix.
Promotion is very much important for an organisation to attract large
no. of consumers for a business. There are variety of promotional
activities prevails in the whole world that are advertising campaign,
special events, launching a social media blitz and many more. In
context of Hard graft tools use promotional tools to get aware about
their new strategy which is elimination of intermediaries with
operations at online.

Promotional campaign is measured
For an organisation there are various factors that helps to measure the
success of promotional campaign that helps to eliminate the gaps in
performing well in context of an organisation. By enhancement in
brand awareness, perception and lead generation are important
indicators of success. With Goals, targets and Key performance
indicators are important factors such as no. of sales with no. of leads
generated to get optimum kinds of outputs.

How promotional activities are regulated.
Promotional activities are highly visible and elaborate about marketing.
With the help of various legislations and regulations promotional
activities should be regulated. That are federal laws and regulations
such as broadcasting act, food and drug act etc. that prevent seller from
any kind of misleading the public regarding the nature of product
concerned. Further regulation by private organisation helps for
considerable control over marketing and specific communication.

Role of price in that organisation’s marketing
mix
Pricing is an important weapon in against to gain the competitive
advantage which proved beneficial for organisation to exploit the
market opportunities. It helps to build perception of products and
services in the mind of consumer. It limits the business growth and
sometimes cause serious problems of sales and cash flow. So price in
marketing mix is very much important to attract the attention of large
no. of consumer base.

Role of promotion in that organisation’s
marketing mix.
Promotion is very crucial tool in marketing mix to aware people about
the product and services of the respective organisation. It helps to give
competitive advantages to organisation to showcase products features
and quality in distinctive way to attract attention of large no. of
potential buyers. Role of promotion is critical for building brand value
by ensuring that right consumer reached and objectives are met.

CONCLUSION
From the above report it has been concluded that marketing mix is very
much important for an organisation to coordinate and direct each and
every important attributes that contributes towards organisational
growth. In marketing mix pricing, promotions and physical evidence all
are crucial factors that enables to give best consumer experiences to
consumers. So it is very much essential to plan and coordinate in very
careful manner so that desirable goals and objectives should be achieve.

REFERENCES
• Abuznaid, S., 2012. Islamic marketing: addressing the Muslim
market. An-Najah University Journal of Research
(Humanities). 26(6). pp.1473-1503.
• Chikweche, T. and Fletcher, R., 2012. Revisiting the marketing
mix at the bottom of pyramid (BOP): from theoretical
considerations to practical realities. Journal of Consumer
Marketing. 29(7). pp.507-520.
• Christopher, M., Payne, A. and Ballantyne, D., 2013.
Relationship marketing. Routledge.