Practice Question essay

The marketing mix consists of up’s. Explain how each part of the mix can be used to stimulate a response from the chosen target market. The up’s, price, product, place, and promotion that make up the marketing mix play a vital part in stimulating a response from the chose target market. These will ultimately be the deciding factors as to whether the target market will purchase the product or not. Although there are ups, most companies will look a bit further to the up’s in order to stimulate a response from their chosen target market: price, product, place, promotion, physical evidence, people, and process.

As a company, for example, Marks and Spencer, the marketing department would have to take each individual part of the marketing mix in order to try and appeal to their market. Marks and Spencer aim to focus on a ‘pre middle-aged, middle class’ market. This in itself will have many implications on the up’s. The price will not be too high otherwise it will cut off a large part of their target market. They are not the upper class looking for luxury, top of the range designer clothes; they will want high laity goods but not goods that are unaffordable.

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Not only does the price have to be mid range in order to maintain the middle class, it can’t be too low otherwise it will open the availability of the products to the lower class, pushing away some of the middle class as they may feel that everyone and anyone can wear what they wear. The products themselves at M have to be high quality. The target market want designer brands, but not at the designer brand prices, therefore M cater for the target market by providing their own ‘sub-brands’ such as Per Nun.

A company will have to take a look at what the target market requires, if they re aiming at the lower class, the product will be off lower quality, vice versa for the upper class. The promotion for a company plays a vital part in its success in the market. If they cannot promote to the required target market via the correct promotional tools then the target market may not even know they exist. An example of when an industry as a whole promotes at the correct time via the correct promotional tools is the children’s toy industry.

Their methods of promoting re usually via TV adverts when they know children will be watching their afternoon shows after they finish school at around PM to PM. Toy companies, such as Matter, the makers of Barbie, will air their adverts around that time knowing that children will be watching and knowing that their parents will be around when the child requests the toys to be purchased for them. Likewise for companies aiming at teenagers, they will use online promotion, as they know that is where their target market will be: on Social Media sites such as Faceable or browsing online shopping.

Place can work hand in hand with promotion, for example if your target market is the 18-24 year olds, you will tend to find the bulk of their purchases will be online and mobile, particularly as 57% Of people will abandon sites on their phone if they do not have a mobile compatible site (L’Oreal, 2014). With the M example, the place would have to be where the target market can access it the easiest, in this case it’d be on the high street when they’re shopping, however, their online presence must be strong as more and more sales are online.

Moving on from the ups to the 7 As allows companies to hone in on their target market in order to stimulate a response from the target market and increase their sales revenue as a result. The people that are at the forefront of the company, I. E. The people who work in the shops or for the customer service team are important in stimulating a response from the target market. John Lewis is a great example of how a company can stimulate a response from their target market.

I have my own personal experience of customer service tit John Lewis when my laptop was broken 23 months into the 24-month warranty and I took it into my local John Lewis and they allowed me to pick a new laptop up to the value of the laptop I bought almost 2 years ago. For this reason will always go to John Lewis to buy my electrical goods as the customer service provided is better than any other I’ve received. The layout of the store, or, another one of the Up’s physical evidence, is also appealing with John Lewis. Everything is easy to find and workers are always at hand to help, which also applies to the 7th p process.

The people, physical evidence, and process attach Lewis are all factors that stimulate the target market to return to that particular company, emphasizing their importance in the marketing mix and their importance in getting them right if a company wishes to have returning custom. Although the ups are vital in a company’s ability to stimulate a response from their target market, the ups allow the company more so to achieve this. Without the ups, the target market may not feel inclined to purchase the products on offer from the company, which is a failure on their part.