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The marketing mix can be termed as the process of marketing activities for achieving the set objectives of business. The report includes the discussion about different communication mix elements with example of the company. It also covers the use of social media in the process of promoting the products.
The marketing mix is one of the most important tools and a business model that is highly concentrated on the product, price, place and promotion. It helps to describe the different techniques of marketing so that the company can achieve the marketing objectives of the business.
Product: A product is a resource that is manufactured or constructed to meet the needs of individuals or a collective (Hanlon, 2022). For example, Tesco has a wide range of variety of products from different regional produce, along with some international cooking so that the customer cannot be disappointed at the time of the choice of product. The range of products of Tesco includes toys, technology, clothing and jewelry, health as well as beauty and many products are sold by Tesco.
Price: Price is one of the most important components in the marketing mix which is paid by the customer based on their interest. For example, the pricing strategy of Tesco be termed the leading cost. The management of the company mainly tries to minimize the purchase cost with the help of economies of scale that helps to benefit the customer. There are different systems in the pricing strategy of Tesco along with the price promotional strategy which helps to give a proper discount to the customers and helps to increase sales in profit.
Place: Place is a major component that provides accessibility to the customers for their product. For instance, Tesco uses two main distribution channels for the products and services with the help of online and offline services (Contributor, 2021). The company uses different offline stores like Tesco extra, Tesco home plus, Tesco metro as well as Tesco compact. The Online business of the company is also known as the Tesco where the company uses many channels for providing products to their customers
Promotion: Promotion in the marketing mix is a process of marketing communication that helps the business to promote the products as well as the features to a wide range of customers. However, it is considered one of the most expensive components in the process of the marketing mix. For example, Tesco is considered a gold aspect in the context of branding as well as advertising. The biggest benefit of Tesco is their low prices which help to make them different from the competitive supermarkets. The company uses charitable events, providing discounts along with TV advertisements that help to promote their products online. The main focus of the company is on the low prices of the product and providing quality to their customers. It attracts customers and they are ready to purchase it again and again. The company is their product online so more customers are buying online products in comparison with offline purchases.
Advertising: Advertising is one of the most important elements of the communication mix that refers to the paid materials which can be recognized in television advertising. For example, Asda uses different advertising techniques for promoting its products to a wide range of customers. It is beneficial for the customers who are paying for the production services there is high control over the communication channel along with the target market (Todorova, and Zhelyazkov, 2021).
Direct Marketing: Direct marketing can be termed as the marketing process of communication that is represented to the customers. For example, Asda uses the process of direct marketing in terms of a call to action which is created for stimulating the decision of purchasing of the customer. The company also uses direct marketing for building a strong relationship with customers by using some target marketing content.
Personal Selling: Personal selling is a process of referring the activities by promoting the product through face-to-face selling. For instance, Asda trained its employees regarding the process of personal selling with specialist knowledge of the products with the right appearance and attitude (Bhasin, 2021). The skilled sales executive of Asda does some personal selling as they are very good at developing rapport with some of the customers based on their requirements.
Public Relation: Public relations can be termed as the public face of the company in a huge marketplace. Public relations are usually unpaid and it is a proactive strategy of communication that is based on the location of the services. For example, Asda uses public relations in order to increase the awareness of the business along with the building of a petition of the company in the huge marketplace. The company make some public relations for developing their market activities and enhance the services for offering more product to the company.
Sales Promotion: Sales Promotion is related towards both promotional methods, and it characterises a circumstance in which a company uses a few really sort of valuation or special offer strategy to entice customers to buy. For example, test are mainly uses the newspapers along with the use of television different outlets of media for the process of communication to their customers. There are different techniques used by the Asda in terms of sales promotion like reduction in the prices provide offers discount as well as buy one get one offers. It increases the activities sales of the company which is profitable for the business
Event Sponsorship: Event production or event sponsorship is a 6th element of the communication mix elements that is every now and then involved. For instance, Asda uses event sponsorship by making their presence in the marketplace which is beneficial for the enhancement in the products and services. It is effective for Asda for developing an association for the wide range of customers so that they can be aware about the different products and services offered by Asda. It will create a huge impact on the mind of customers which helps them to make a purchase of product.
Linked In mainly enables the company to make a network with a wide range of people professionally with the company. This is one of the major strategic plans to make a communication with the target audience (Lahtinen, and et.al., 2020). Linked In provides a way to communicate with people professionally and make them realize the different perspectives of the services which are offered by the company. It can be easier for the business to deal with the changing environment of the business.
Facebook as a communication strategy for business is one of the major social media tools for promoting products. It provides an opportunity for people to make a connection with other people and the company uses it as a brand promotion that is directly reaching the targeted customers. It will allow the companies to make customers directly with the customers so that they can provide deals directly to the customers and get instant reviews for the future. The company can promote its products on Facebook as it is a big platform for selling products online. However, the company can promote its products on Facebook where millions of users can see the advertisement and it is considered one of the most popular platforms in terms of business. It provides a variety of services to the customers and they can recognize the wide range of products from different companies (Mahmoud, 2018).
Twitter is an online social media service that lets people send and receive short messages to and from specific groups. A Recent tweet, similar to emailing to a listserv, sends a sense of a comprehensive list. The company can use it as a communication strategy for the business for selling their products online. There are many people on Twitter these days, which is highly beneficial for the company to offer effective social media content and promote the products online (Dost, and et.al., 2019). It has a huge impact on the buying behavior of the customers and encourages them to buy more products.
Snapchat highly supports the marketing strategies of the business as they are trying to promote the services on their platform. The company makes most of it for the increase in the brand value of the business with an increase in the services. Snapchat is a one-of-a-kind platform for organizations to engage with consumers (Bacik, and et.al., 2018). That's how to put it to use. Snapchat is a social media platform that allows for the quick and transitory sharing of images and videos. Businesses can use classical ads, labeled screens, and glasses, or geolocation data to advertise on Snapchat. It develops many opportunities for the business to deliver different types of services with the help of promoting the products online to a wide range of customers.
In my opinion, social media helps to add an appropriate value to the stakeholders of the business as it also allows to communicate in a fast manner with relevancy. I think people share their experiences and reviews online which helps the business to collect viewpoints and make modifications to services. In my thinking, the content of social media plays a major role in promoting the products and services that increase the process of brand recognition that helps reach the prospective customers. In my opinion, it has to engage the customers and helps to develop social media presence for reaching a wide range of customers and making interaction with them. To my knowledge, social media content also makes improvements in the search engine ranking of the business due to the quality of content that defines the strategy of mind. However, I see that social media content allows the company to concentrate on the activities of customers who are considering the social media activities. In today’s technological world, many social media platforms are used by companies for promoting products and services. Social media provides different activities as well as performance as per my knowledge which increases the profitability of the business. It will also develop various opportunities for the company to make changes in the use of social media services and provide the best quality of products and services to the customers. I observe the performance of companies with and without use of social media content as there is huge difference of sales due to the quality of promotion on social media. I believe social media content motivates people to buy products and services due to number of advertisement on different social media platforms like Facebook, LinkedIn, Twitter as well as Instagram. It helps to build a huge customer base for the company and content on social is powerful for the maximisation in the services of the company.
From the above study, it can be concluded that Marketing mix and its elements are playing a major role in developing the performance of the company. The different elements of communication mix helps the company to promote their products by using social media content which is very important in the present scenario of business. It will create a valuable impact on the purchasing behaviour of the customers.
Hanlon, A., 2022. How to use the 7Ps Marketing Mix. [Online] Available at: https://www.smartinsights.com/marketing-planning/marketing-models/how-to-use-the-7ps-marketing-mix/ [Accessed on 13-06-2022]
Contributor, C., 2021. What is Marketing Mix? [Online] Available at: https://smallbusiness.chron.com/marketing-mix-638.html [Accessed on 13-06-2022]
Bhasin, H., 2021. What is communications mix and its role in Marketing? [Online] Available at: https://www.marketing91.com/communications-mix/ [Accessed on 13-06-2022]
Communication Mix: Components. [Online] Available at: https://theintactone.com/2019/09/08/am-u2-topic-4-communication-mix-components/ [Accessed on 13-06-2022]
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.
Mahmoud, T.O., 2018. Impact of green marketing mix on purchase intention. International Journal of Advanced and applied sciences, 5(2), pp.127-135.
Dost, F., Phieler, U., Haenlein, M. and Libai, B., 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.
Bacik, R., Fedorko, R., Nastisin, L. and Gavurova, B., 2018. Factors of communication mix on social media and their role in forming customer experience and brand image. Management & Marketing, 13(3), pp.1108-1118.
Todorova, G. and Zhelyazkov, G., 2021. Impact of marketing communication mix on business results of SMEs. In SHS Web of Conferences (Vol. 120). EDP Sciences.
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