2.2.5 Using The Marketing Mix
2.2.5 Using The Marketing Mix
2.2.5 Using The Marketing Mix
Integrated marketing mix – a marketing mix that has a theme with each of the 4
elements supporting each other.
In this section students will pull together the separate marketing mix elements to
understand how they form an interconnected marketing strategy. For example, an
internet-based business might charge low prices because it does not face the high
costs of an additional retail estate, such as AO.com compared with Currys Digital.
Retailers of fashionable clothing such as Abercrombie and Fitch have to promote and
price their products in such a way to reflect and reinforce the perceived quality of
the clothing. The design mix and the stage at which the product is at in its life cycle
could also determine which blend of the ‘4Ps’ is the most appropriate. In almost all
circumstances certain elements of the marketing mix will be more important than
others depending on factors such as the nature of the product, the amount of
competition, the market segment targeted, etc. and students should explore this
dynamic.
Students should explore which element or elements of the marketing mix are
critical in determining competitive advantage and be able to make judgements
about which parts of the marketing mix are the most important in different
business contexts.
This sub-topic is also a useful revision tool for the topics already covered in Theme
1 as this includes the elements included within a business plan.
The marketing mix is important in a wide range of business areas. For example,
Business Location, covered in 1.4.2, is associated with Place. Market research (1.2.2)
provides businesses with information on what products to sell, how to best
promote them and where they should be sold. The marketing mix will ultimately
determine the profitability of a business.
Case study: Iceland
The case study illustrates ‘Using the marketing mix to make decisions’ in a
number of ways:
Iceland is developing the ‘Product’ element of the marketing mix by
introducing new brands, such as Millie’s Cookies and Slimming World.
At the same time, and to support the new types of products, Iceland is
developing its ‘Promotion’, through a new advertising campaign called ‘The
Power of Frozen’.
In addition, Iceland is developing the ‘Place’ element. It is changing the
format of some stores to help them appeal to different types of customers.
‘The Food Warehouse’ will give customers different experience with more
luxury products.
By reducing its reliance on plastic, Iceland’s products will use different
packaging. Also, this decision will help Iceland to use promotion which
persuades customers that it cares about the environment. It has received
positive publicity becase of this decision
a. Apple iPhone
b. Domino’s Pizza
c. Lidl
d. Petrol station
For each pair of elements of the marketing mix, describe an example of how they
might link together. An example is provided.
Product and
Promotion
Common misconceptions
Exam Questions
1. Multiple choice
Which one of the following is not an element of the marketing mix? (1 mark)
A Packaging
B Place
C Price
D Product
2. Explain one reason a business should only rely on the Product element of
the marketing mix. (3 marks)
4. Analyse the benefit to Iceland of using the marketing mix to make decisions.
(6marks)