Unit 6 The Marketing Mix Assignment Sample

Introduction to The Marketing Mix Assignment Sample

Each organization aims at offering an adequate product and services to customer as to boost overall profitability. In this context, current study is focusing on enhancing overall understanding of Senior Management Team (SMT) of Hard Draft Tool related to marketing mix. It will also include in-depth information related to digital tools and its significance in the marketing process.

Task 1

AC 1.1 Define the use of seven marketing mix’s elements.

Marketing mix implies to the strategic framework which focuses on determining market needs and initiating activities by which company persuade others to buy the product (Alsharif et al, 2023). This marketing mix consists of seven crucial elements which will be explained with example of drills:

This Marketing Mix Assignment Sample explores the seven elements of the marketing mix and their role in meeting customer needs, promoting products, and improving business profitability. An Assignment helper can support students in understanding marketing strategies, digital marketing tools, and their application to a drill-manufacturing business.

Product:

• It is the first P of the marketing mix which indicates the physical or intangible products that are offered to the customers.
• Firm initiates market research to identify the type of product required by the customers.
• This includes features and benefit of all products and services. For example: Higher speed, efficiency and easy to use are various feature of drills which attract customers. (Lim, 2023).
• In this, company define all the benefit and description associated with the products in comparison to the competitors.
• It will also include information related to the quality and branding of the product and services.

Price:

• This element of marketing mix includes the total cost which customer needs to pay for the particular product or service.
• It includes diverse pricing strategy by which customers could be easily attracted such as penetration, competitive and skimming (Wichmann et al, 2022).
• Price is setting down after identifying the cost of product, overhead cost and overall manufacturing & services expenses. For example: cost plus pricing strategy is used for deciding price of the drills.

Place:

• This element defines the distribution channel by which product is delivered to the ultimate customers.
• There is a chain of distribution channel through which product are sold out which includes wholesaler, retailer, distributor and internet (Nikbin et al, 2022).
• Direct and indirect are two channel by which organization offers final product to customers. For example: Drills are sold out through indirect challenges and online retailers which aids in reaching out to wider market.

Promotion:

• This element of marketing mix focuses on creating market awareness which aids in boosting overall sales and profitability of the business entity. For example: TV ad, social media platform, company website are various method by which awareness is created related to drill.
• This strategy also aids in differentiation the firm’s product from competitors and thereby enhances overall sales (Istikomah, Saputra and Yusuf, 2022).
• Promotional element of marketing mix also supports in defining the firm’s values, mission & goals to the customers and thereby promotes transparency.

People:

• This element includes all the stakeholders and human resources that are crucial for the business growth such as employees, customers, manager, investor and many more.
• In this, firm should hire right person at right place which boosts efficiency and supports in attaining the goals (Aziz et al, 2023). For example: Individual with effective technical and mechanical aptitude is hired which aids in successfully selling and manufacturing. Organization should offers regular training that enhances skill, support sales, aids in developing adequate customer relationship and thereby boosts profitability.

Process:

• Second last element of marketing mix includes all the steps and procedures initiated for delivering the product.
• In this, company streamlines process by integrating technology and tools which in turn reduces the overall cost. For example: Customers could reach out to firm’s websites which help in easily accessing to drills. It also aids in easily paying out all bills through online platform.

Physical evidence:

• It is the last element of marketing mix which defines all the physical and tangible aspect of the organization such as physical environment, specialized labour, ambience and many more.
• This also includes physical aspect of product such as sign, branding, packaging, symbol which aids in building and sustaining competitive edge. For example: Drills will be sold out through firm websites and promoted through excellent logo.

AC 1.2 Define relationship between diverse elements of the marketing mix

All the Seven element of the marketing mix are highly inter-related which could be understood through the following points:

• Product: Any change in the quality of product will result into modifying the price and process of the product. Further, it also leads to modify the distribution channel and the ambiences of the organization (Tho'in, Muliasari and Putri, 2021). Along with this, organization needs to hire different employees with the required skills which ultimately changes the overall marketing mix.
• Price: Shift in the price of product leads reduction in the overall demand which ultimately result into changing distribution channel. For example: Low cost products were sold through indirect channels as all customer could afford it but with increase in the price, direct channel is used to offer product to the target market. Moreover, pricing strategy places significant impact on customer’s perception related to the product quality and overall cash flow.
• Place: There is a change in the distribution channel due to modification in the product quality and price (Ahmed et al, 2023). Further, firm needs to offer differential information on online distribution platform and required to hire competent employees.
• Promotion: This strategy impacts the firm’s sales as buy one get one free discount aids in reducing cost and thereby boosting sales. For example: Adequate promotional strategy help in increasing demand for product which eventually aids in attaining economies of scales and thereby impacting on firm’s pricing policy.
• People: Adequate employees support in offering better customer experience which aids in creating awareness and thereby enhances the sales.
• Process: Efficient process enhances product quality, reduces delivery time, decreases cost and thereby enhances affordability of the large number of customers (Ho, Liu and Chen, 2022).
• Physical evidence: Effective packaging and branding aids in creating product awareness which ultimately boosts the sales and demand. Further, higher branding supports in boosting overall price of the product and thereby modifies the distribution channel.

M1 Analysis the role of three elements within marketing mix

The three most crucial element of marketing mix includes product, price and promotion which will be evaluated in the context of clothes:

• Product: It has been identified that there is a continuous shift in the consumer preferences towards clothes which requires firm to conduct in-depth market survey. Further, this element aids in fulfilling the needs of large number of customers and ultimately supports in sustaining competitive edge (Bitto Urbanova et al, 2023). Moreover, this element will aid in adapting with the changing environment and support in optimizing profits prominently.
• Price: It is another critical element of marketing which supports in managing the overall cash flow and profitability of business entity. Cost plus pricing and competitive pricing is two most common pricing strategies that have been used with the aim of attracting large number of customers as well as boost overall financial position.
• Promotion: In the context of clothes, social media marketing and influencer marketing are the two crucial techniques which aids in creating awareness (Tsou and Chen, 2023). In the current times, individual’s perception related to clothing and lifestyle is highly influenced by the product used by their role models. This promotion strategy will help in easily creating awareness within larger target market and thereby impacting on overall sales and profitability of the business entity.

D1 Assess the impact of three crucial elements on others

It has been discovered that adjustment in one element of the marketing mix will create subsequent impact on the overall marketing mix. Below is the impact of change in one element of clothes marketing on others:

• Product: As there is a continuous change in type and style of clothes, it ultimately creates impact on overall pricing and promotion. For example: If company starts developing high quality product then it ultimately leads selection of skimming pricing technique to target the quality conscious customer. Furthermore, marketing strategy will be changed by which targeted group could be easily attracted (Johnson and Rogers, 2024). Moreover, firm will shift towards direct distribution channels so that goods could be offered directly to the target market.
• Price: If the price of the clothes changes, then the firm needs to enhance feature and quality of the product to justify the changes in prices. Moreover, this also requires firm to change distribution channel and promotional strategies which aids in attracting the target group easily.
• Promotion: If the organization is promoting product through particular feature than firm needs to modify its product accordingly and initiate regular development as to resonate with the same (Hussain et al, 2023). Moreover, SMM also aids in determining customer’s willingness to pay price according to which changes needs to be initiated. Along with this, SMM result in increasing demand for the product in the wider market which ultimately requires firm to modify their existing distribution channel as to reach the larger target market.

Task 2

AC 2.1 Evaluate application of coordinated marketing Mix for selected product and services

For enhancing the senior manager’s understanding related to the marketing mix, Makita’s marketing mix for cordless batteries will be used as an example which stated below:

• Product: The firm offers ranges of cordless batteries which include Lithium-ion, NiCd and NiMh (Plangger et al, 2022). Makita also concentrates over regular innovation and development which support in fulfilling needs of all customers and thereby enhancing sales.
• Price: The firm is using competitive pricing strategy for cordless batteries in which organization charges lower prices than other entities which aids in attracting all the cost-conscious customers. This strategy had been adopted as the firm orders product in bulk quantity which aids in attaining economies of scale and thereby charging lower prices than competitors.
• Place: Makita sold its batteries through indirect channel in which partnership has been initiated with various retailers such as Lowe and The Home depot through which larger target market could be easily accessible (Marketing Mix of Makita, 2025).
• Promotion: Makita has shifted towards online and digital marketing in year 2022 with the aim of attracting the large number of customers. Moreover, firm has invested in social media marketing through which diverse interacting videos and photos has been shared on Facebook, LinkedIn and Instagram which aids in boosting overall engagement.
• Process: Business entity has adopted highly effective tools and techniques that help in streamlining the manufacturing process.
• People: Makita has hired highly competent employees which support in successfully attaining goals and objective (Figueiredo, Gonçalves and Teixeira, 2021). Further, regular training sessions are arranged which aids in enhancing worker’s skills and offering optimum services to customers.
• Physical evidence: Business entity is having effective brand reputation, image which supports in distinguishing firm from its competitors.

Among all the seven elements, product, price, place and promotion are more crucial than others. Product element aids in offering tangible good according to the needs of market that aids in creating competitive edge (Graesch, Hensel-Börner and Henseler, 2021). Further, price is the crucial element as it impact on overall profitability and stability of the business entity. Beside this, Place mix aids in enhancing accessibility of product to large number of customer and promotion mix support in communicating firm’s services to target market and thereby enhancing sales and profitability.

AC 3.1 Explain diverse digital tools and techniques available for including in marketing mix

There are various digital tools & techniques by which overall information related to the particular product and services could be conveyed which as follows:

• Search marketing: This implies for the tactics which is utilized for creating online presences, boosting traffic on search engines such as Yahoo, Bing and Google (Altay, Okumuş and Adıgüzel Mercangöz, 2022).
• Social media marketing: It refers to the process in which social media platform such as Instagram, YouTube, twitter and Facebook is used to enhance brand awareness.
• Digital advertisement: It is another marketing technique in which product gets promoted with the help of online channel such as streaming content and websites.
• Digital PR: This is the powerful strategy which offers organization with an opportunity to interact directly with the target audiences at any point of time.
• Digital partnership: In this two or more organization collaborate together with the aim of creating product awareness (Purohit, Paul and Mishra, 2021). Influencer partnership is one of the examples of digital partnership in which influencer undertakes deals with the firm to promote product.
• Digital messaging: This includes set of channels such as E-mail, messaging app, social media and chat application by which organization communicate with customers.

AC 3.2 Define utilization of digital marketing tools and techniques for selected services and product

Marketing goals of Makita’s to offer firm’s product and services at global market due to which organization has emphasis over utilising various digital tools. Below are various digital tools which will be used to promote cordless batteries which are as follows:

• Search marketing: The firm is utilizing SEO technique under which organization is using keyword to optimize entities’ website which help in attracting large number of customers (Frank, 2021). Further, firm share user generated content and visually appealing content related to cordless batteries that showcase firm’s product and services.
• Social media marketing: Makita is involved towards sharing interactive and user generated content related to cordless batteries on its facebook, Instagram and YouTube channel through which all the information has been effectively shared.
• Digital advertisement: The firm has announced “rule the outdoors” campaign which aids creating awareness within wider target market and thereby boost overall sales (Digital Marketing of Makita, 2024).
• Digital PR: Firm has promoted its product through press release, offers customer testimonial and initiating cordless batteries launch program which support in enhancing overall sales (Huang and Rust, 2021).
• Digital partnership: The firm has initiated large number collaboration with various bloggers and influencer that aids in promoting product and services to large number of customers.
• Digital messaging: Makita has launched its firm’s websites, initiate email marketing and social media marketing through which information related to product and services are shared.

AC 2.2 Define benefit of coordinated marketing mix for selected product

There are various benefits of coordinated marketing mix for the Makita which could be understood through following points:

This coordinated marketing mix aids in fulfilling needs of customer within market which ultimately support in creating competitive edge (Buhalis, Leung and Lin, 2023). In this, organization use social media and other digital tools through which customer’s demand could be identified that ultimately aids in offering adequate product and services.

This type of marketing strategy also support in sustaining competitive edge within industry by describing unique feature of the product and services. This also aids in developing distinct brand image which ultimately support in gaining competitive advantage.

With the alignment of all seven element of marketing, organization is able to boost brand awareness, maximize customer satisfaction and thereby boosting overall revenue.

Coordinated marketing also aids in effective resources allocation and decision making which ultimately help in enhancing profitability. With the effective understanding of all the components, firm is able to undertake savvy decision which aids in optimally utilising all the time, money and resources.

AC 3.3 Define advantages of digital marketing for chosen product and services

Digital marketing implies to process of integrating various tools and techniques in the marketing process. Below mentioned are various advantages of digital marketing tools for creating awareness related to cordless batteries:

• This marketing technique supports organization in gaining global reach as it offers an opportunity to promote product within the multiple markets (Leung, Gu and Palmatier, 2022). Social media, e-mail and content marketing helps business in reaching to all the potential customers of cordless batteries which aids in enhancing sales.
• Along with this, digital marketing tools are cost efficient as it does not include a higher start-up cost. This tool also helps organization in creating a digital campaign according to their budget and thereby assists in attracting the large number of customer within limited time and cost.
• Digital marketing tools also support organization in adequately target all the potential customers of cordless batteries which aids in boosting overall sales. With the help of SEO and pay-per click tool firm is able to reach right audience which requires which support successfully influencing their overall decision.
• Another major advantage of digital marketing tools is the availability of diverse content type which aids in attracting customers (Capper et al, 2022). Organization can use various content types such as E-books, emails, visual content, Blogs, podcast, influencers, quizzes and webinars as to offers interactive content. This together help in managing customer’s engagement towards business and thereby enhancing overall sales and profitability of the organization.
• This marketing tool also support in boosting overall customers engagement which aids in boosting overall sales and profitability of the business entity. Through these tools, customers are provided with an opportunity to interact with company and resolve their queries and issues which ultimately aids in enhancing their overall engagement.

2M1 Assessing marketing mix success for selected product

Below are various success points and features due to which a Makita’s marketing mix is successfully working and also includes various areas of improvements:

• The firm has focused on introducing regular innovation and development in their product which aids in fulfilling customer needs.
• The organization is using competitive pricing strategy that aids in offering product at lower cost than competitors which ultimately support in boosting overall sale (Afifah, Najib and Sarma, 2022). However, this strategy could define lower quality of the organization’s product that reduces overall trust and confidence of customers.
• Beside this, organization is using indirect channel to offer its product which provide opportunity to reach wider target market. On the other hand, digital technology has not been used to sell product which could ultimately restrict access to large number of customers.
• Organization is having effective social media presence which helps in creating brand awareness within limited time and cost.
• Moreover, business entity has utilized digital tools to regularly communicate with customers that aids in resolving all their issues and ultimately boosting satisfaction (Brand, Israeli and Ngwe, 2023).
• Along with this, firm is offering regular T&D session to employees after determining their needs through AI which aids in enhancing overall skills and competencies.
• Lastly, Digital tools help in sustaining effective physical presence which helps customers in easily sustaining competitive edge.

However, it has been identified that firm should use digital tools for deciding cost of product which will help in earning accurate amount of profits while covering all the cost. Along with this, organization should sustain adequate presence on online platform and offer product through digital sources as to enhance accessibility and boosting overall profitability.

2D1 Evaluating inclusion of digital elements in marketing mix

Makita is using various digital elements in the marketing mix which ultimately aids in boosting overall profitability and sales of the business entity.

• Makita is using digital element in its product which help organization in collecting information related to customer’s perception and feedback based on which most accurate product could be offered (Olson et al, 2021).
• Further, digital element of marketing mix help organization in identifying customer’s preference and willingness to pay for certain product based on which most accurate price could be decided.
• Digital marketing has been introduced in place mix which supports organization in promoting its product in wider target market and thereby enhancing overall sales and profitability.
• Beside this, digital marketing tool help in developing demand across globe and offers an opportunity to sell good through websites (Kshetri et al, 2024).
• Moreover, digitalization helps in communicating with all the customers and employees through online platform that enhances their overall satisfaction.
• Beside this, technology aids in streamlining process which ultimately support in reducing cost and offering higher satisfaction to customers.

Conclusion

It has been identified that marketing mix aids in identifying market demand based on which most accurate product are offered to customer which aids in maximizing firm’s profit while satisfying customers. It has also determined that digital marketing enhances overall market reach and support in promoting product at less cost.

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