Integrating Elements of Marketing Mix †Free Samples to Students

Question: Discuss about the Integrating Elements of Marketing Mix. Answer: Introduction: The study about the analysis of the impact of the marketing mix on customer satisfaction on Nike is important to know about the changes in the marketing mix approaches and. In the current scenario, the marketing mix (7ps) is having the influence of online activities and improvement in the level of competition that affecting the business process. The research will identify the factors and issues that have the direct or indirect impact on the customer satisfaction through marketing mix functions (Armstrong and et al., 2015). The analysis of customer perception and impact of the marketing mix activities will be beneficial to Nike to make corrective decisions to improve the awareness and interaction with existing and potential customers. To identify impact of marketing mix To analyze factors of customer satisfaction To develop strategy for new marketing mix To identify issues in current marketing mix for customer satisfaction What is the importance of marketing mix for Nike? Why customer satisfaction is essential for business development? What are the key factors influence the marketing mix and customer satisfaction? According to Huang and Sarigll, (2014), marketing mix refers to the set of actions or tactics that a company uses for promoting the products, services and brand in the market. The major marketing mix elements involve price, place, promotion, product, process, people and physical environment. The top management or the marketing team of organization analyze the marketing mix attributes and develop the strategy to improve the effectiveness of these marketing mixes to influence the decisions of buyers. The product and prices are primary functions of the marketing mix as the company need to design and develop products according to needs of target customers and set optimum prices that help to gain the competitive advantage. Additionally, the promotional activities of company support to create the awareness about the products and services and set the appeal to increase the sales (Huang, and Sarigll, 2014). For promotion company uses social and print media, direct marketing and promotional p ricing. The place and people are playing a vital role to influence customer satisfaction as easy availability of products in market increases the brand effectiveness and information provided by employees support to make the decision of the customer to buy the products. Huang, and Sarigll have added that physical environment and process of selling also help to engage the customers. The organizations are using the online selling method for processing the order and offering the products. The interiors and environment of stores also aid organization to increase the satisfaction level of customers. Factors of customer satisfaction There are various factors that have a significant impact on the customer satisfaction level. As per the views of Pavlou, and Stewart, (2015), the key factors that considered for analyzing and increasing the customer satisfaction involve accessibility, customer interaction level, convenience, customized approach, trust and choices. However, the leading organizations are developing the products and promotional activities by focusing these factors but changes in the market trends and improvement in the competition level influence the customer satisfaction level. In the current scenario, there are various organizations that offering similar kind of products at lower prices that affect the brand stickiness and choices of the customer. The high accessibility is essential for an organization to attract the customer and engage them in buying the certain products offered by them. In spite of that, past experience with organization and response from the staff members to make the choices also p lay a vital role in the improvement of customer satisfaction (Pavlou and Stewart, 2015). By having concern over these elements, the organizations could be able to maintain the constructive relationship with the customer and meet their satisfaction level. To maintain the effective marketing mix strategy, organizations have to face different issues. Hanssens (2014) has analyzed that, ethical pricing and promotion are affecting the activities of marketing and shaping the decisions of the customer to choose a particular brand. The customer demands high-quality products at optimum cost but the organizations are seeking for higher profitability. This kind of approach is affecting marketing functions and customer satisfaction level. If there is the monopoly of the organization in the market then the satisfaction level of the customer will be low. In addition to this, the false information that is provided by the organization to promote the products and services also affect the marketing strategy and performance of the organization in existing market (Hanssens and et al., 2014). Research methodology is an essential element of study that helps to maintain a systematic approach to solving the problem and meet the objectives. The research methodology is useful for readers to understand the manners in which the study has been conducted and identify the techniques were applied. The current research methodology is framed from the topic Marketing Mix of customer satisfaction on Nike. The major elements of current research methodology involve research methodology, research approach, data collection, sampling and data analysis. The research philosophies provided the ground for handling different directions of a study and for those three types of philosophies are used such as interpretive, positivism and realism philosophy. For the current research, positivism research philosophy that involves factual data that collected through observation and lead to the statistical analysis. The research philosophy will be helpful for the researcher to maintain the independent flow of study without any interaction with the human (Taylor and et al., 2015). This kind of research philosophy will be beneficial for explain and predict the marketing mix for Nike to improve marketing effectiveness. Research approach For managing the data and achieve the defined goals and objectives the research approaches plays a critical role. There are two types of research approaches are used that involve inductive and deductive. For the current research, the research will use deductive research approach to confirm the marketing mix theories on the basis of collected data (Lewis, 2015). In this context of the deductive approach, the research will analyze satisfaction level of the customer through marketing mix of Nike considering the secondary and primary data. The collection and comparison of both will help to draw an effective conclusion. The survey strategy will be used for collecting data and meeting the objectives of the research. In this approach, the researcher will design and develop a questionnaire and offer to the selected sample size to collect their views (Flick, 2015). The kind of strategy will help to improve the effectiveness of research and eliminate the risk of biases from the study. In order to manage the desired output and maintain the effective flow of research, the researcher needs to segment the study. For that three methods have been used such as qualitative, quantitative and mixed. For the current study of Marketing mix of customer satisfaction on Nike the researcher will use the quantitative method. According to this method, the researcher will collect statistical and numerical data using the survey and questionnaire method which will be done by using the primary data collection process (Silverman, 2016). This kind research type will improve the reliability and maintain the validity of research. The research could follow either descriptive or exploratory design for managing data and proving the desired objectives. For the current research, the researcher will use descriptive research design that will help to develop a new theory about the impact of the marketing mix on customer satisfaction level of Nike. Moreover, the research is based on quantitative data hence it is essential to use the descriptive research design to identify the facts (Palinkas and et al., 2015). For the study, the researcher will use cross-sectional approach for recording the information about the satisfaction level of customer considering the effectiveness of marketing mix. By using the cross-sectional time horizon, the researcher will analyze and compare the data collected from the different population groups. Moreover, by using this technique the data will be gathered using the survey method (Smith, 2015). Data collection is an important aspect of research that influences the finding and objectives. There are two types of data collection methods have been used such as primary and secondary. For the current research, the researcher will collect data through primary method. For that, the researcher will design a questionnaire and collected the data from the people. The survey question will be designed in a simple manner that will be easy o understand. The survey will be conducted using online method of distribution of questionnaire and collecting the views (Gelman and et al., 2014). This will be cost and time effective. The collected data will be analyzed using SPSS tool. For managing the data of primary research and maintaining the reliability of analysis SPSS tool is widely used. To analyze the data, the researcher will import the data into excel of SPSS. Additionally, the graph and pie charts also used for presentation of data (Kratochwill, 2015). This kind of statistical data analysis will encourage the validity and reliability. Plan and procedure The research will be helpful for analyzing the importance of marketing mix for managing the customer satisfaction of Nike. By considering the results the management of the company will be able to make changes in the marketing mix to achieve the better outcome. By undertaking the research, the impact of the marketing mix on the customer satisfaction level will be identified and highlight the key factors that have a significant impact on the marketing approach of Nike. The analysis of marketing mix will help to develop new theories and strategies to improve satisfaction level of customers. There will be some limitations that will influence the outcome of research. The major limitation of research will be proper management of time and lack of understanding of the research standards. I have to learn more about research planning and utilization of tools and services that will overcome the issues related to consideration of data and management of time. Work Schedule Activities/ time frame Week 1 Week 2 Week 3 Week 4 Week 5 Introduction Literature review Research methodology Development of questionnaire Data collection Data analysis Finding and conclusion Recommendation Table 1: Gantt chart The research will be completed within five weeks. According to schedule, the researcher will develop the objective and research background by focusing on the secondary data to develop a strong literature review. In the next week, the researcher will develop a questionnaire and collect the primary data by using the primary data collection approach. The data will be analyzed in the 4th week using the SPSS tool. In the last week, the researcher will develop finding and conclusion on the basis of data analysis and provide recommendations for further improvement in the marketing mix of Nike to encourage the customer satisfaction. References Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education. Flick, U., 2015.Introducing research methodology: A beginner's guide to doing a research project. Sage. Gelman, A., Carlin, J.B., Stern, H.S., Dunson, D.B., Vehtari, A. and Rubin, D.B., 2014.Bayesian data analysis(Vol. 2). Boca Raton, FL: CRC press. Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer attitude metrics for guiding marketing mix decisions.Marketing Science,33(4), pp.534-550. Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer, New York, NY. Kratochwill, T.R., 2015. Single-case research design and analysis: An overview. InSingle-Case Research Design and Analysis (Psychology Revivals)(pp. 13-26). Routledge. Lewis, S., 2015. Qualitative inquiry and research design: Choosing among five approaches.Health promotion practice,16(4), pp.473-475. Palinkas, L.A., Horwitz, S.M., Green, C.A., Wisdom, J.P., Duan, N. and Hoagwood, K., 2015. Purposeful sampling for qualitative data collection and analysis in mixed method implementation research.Administration and Policy in Mental Health and Mental Health Services Research,42(5), pp.533-544. Pavlou, P.A. and Stewart, D.W., 2015. Interactive advertising: A new conceptual framework towards integrating elements of the marketing mix. InNew Meanings for Marketing in a New Millennium(pp. 218-222). Springer, Cham. Silverman, D. ed., 2016.Qualitative research. Sage. Smith, J.A. ed., 2015.Qualitative psychology: A practical guide to research methods. Sage. Taylor, S.J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons.