Minor Assignment Marketing Mix Essay

IntroductionThis report has been compiled in ball club to describe the four most common elements of the merchandise salmagundi which argon described by Elliot, Rundle-Thiele and Waller (2010 p.18-21) in the following few sentences. * carrefour A unspoilt, service or idea offered to the market for exchange. (p.18) * Price The amount of money a business demands in exchange for its offerings. (p.20) * promotional material The market activities that make potential customers, partners and society aw atomic number 18 of and attracted to the businesss offerings. (p.20) * correct (Distribution) The means of making the offering available to the customer at the adjust time and place (p.21) In conjunction with these descriptions, all four marketing mix elements will be analysed and shown how they contribute be applied to sell gaseous state outlets and the w argons which are made available to customers.The Marketing MixElliot et. al describe the marketing mix as the different elements that marketers need to consider. (2010 p. 18) When victimization the marketing mix to market retail gas outlets such as Caltex Woolworths or Coles acquit, marketers need to consider the convergence, Price, Promotion and Distribution (Place) of not hardly flatulence, but many separate consumer and specialty products which retail petrol outlets offer.ProductIt backside be seen in retail petrol brands that opposite than the expected discharges wish unleaded and diesel which are generally relatively low in terms of their simoleons margin, some oil firms take over that supermarkets sell petrol at a loss in site to attract customers. (The Economist, 1996 p.58) Other products are required in order to get along profits for the retail petrol fibrils owner. These other products are generally the convenience type and can range from the daily newspaper and plug gum, to a bottle of orange juice or a arse about of bread. on that express are three categories of conve nience products outlined by Elliot et al. which are all found in retail petrol outlets and include fix products, impulse products and emergency products. (2010 p. 207) * Staple products These are considered to be everyday mart products alike(p) bread and milk, purchased regularly by consumers and therefore arent intemperately promoted * Impulse products These are considered to be only purchased when seen, like confectionary or magazines which are middle catching and are usually found around the hard cash register. * Emergency products These are considered to be those products which are only purchased when really needed, like a raincoat or an umbrella.Although there are a split of products sold by retail petrol outlets like Caltex Woolworths and Coles demonstrate, the obvious product centred on all retail petrol outlets is the displace supplied to consumers. The varieties of dismisss which can be purchased can include* E10 10% Ethanol.* E85 85% Ethanol.* E95 95% Ethano l.* Unleaded specimen fuel.* Hi Octane Offered for luxuriously performance vehicles.* LPG Alternative to liquid fuel, a triggerman product.* Diesel More efficient lower sulphur producing by product. There is a vast selection of fuels for consumers to choose from and although the blends of fuels stay similar, the names and descriptions of these fuels go to change from outlet to outlet. For example, when you drive into a Caltex Woolworths you are confronted with the choice of Caltex twist 95 or 98, both are hi octane blends offered to a prospective purchaser. (Woolworths fuels, Website.) PriceWhen dealing with topic of pricing in retail petrol cut ins, the result of the scathe has to be both beneficial to the seller, and seen as a good deal to the buyer, otherwise no trades will take place. As stated previously, petrol itself tends to begin a lower margin for profit which means the strategic pricing of other products in-store needs to be intercommunicate as well as ensu ring that the price of petrol is not seen as out of balance with other suppliers. There is an obvious demand for petrol, as almost everyone who is able, drives or rides a vehicle which requires fuel to run. So it could be argued that retail petrol stations dont necessarily dance orchestra their own prices, but go off supplier guidelines which base their fuel pricing strategy on demand, Demand based pricing sets prices tally to the level of aggregate or individual customer demand in the market. (Elliott et al. 2010 p. 250)Elliott et al. also continue to write that both Caltex Woolworths and Coles Express hold to a greater extent than 60% of the Australian fuel market share (2010 p.268) so high demand from their suppliers will enable them to lower their fuel prices and therefore clear more customers, earning higher profits. Pricing of other products offered by retail petrol outlets such as bread or milk tend to have the opportunity to be competitive and more fairly priced than a b ar petrol station, the major grocery companies behind retail petrol outlets like Woolworths and Coles focus on throw outing more ground off one and other, price drops are reflected in store and this also proves more profitable, beca utilize consumers are emaciated into purchasing something they wouldnt usually associate with their petrol.PromotionAn important grammatical construction in the success of retail petrol outlets is in their promotion, or the track in which their fuels and other products are portrayed to potential customers. There are many numbers of ways in which retail petrol outlets use promotional tools to make the public more aware of what their outlet has to offer. victimization the Coles Express website for example, it can be seen that promotion plays a major eccentric in the marketing of retail petrol outlets, on the homepage can be found five key promotional campaigns designed to catch the eye of potential customers. The opportunity to win the ultimate weeke nd Ferrari drive flummox or deuce Cadbury chocolate bars for four dollars (Coles Express, website) are two examples of how Coles Express use promotion as a tool to gain the interest of potential customers.The use of shopper dockets and rewards cards are also a major way in which retail petrol outlets have promoted themselves, victimization incentives of cheaper fuel by driping amounts of money in store or purchasing earlier in their supermarkets and bringing the docket to the petrol station in order to gain the fuel discount. In the recent past, retail petrol outlets have encouraged shoppers to buy big in store in order to earn big discounts off fuel motorists who lead more than $300 during one supermarket visit during the next three long time receive a 40 cent per l petrol discount.Shoppers who spend more than $200 or more receive a 25 cent a litre discount, while those who spend $100 or more get a 10 cent a litre discount. (Cranston 2009) Woolworths have the Everyday Rewards program, and Coles have the Fly buys rewards program. Both these programs offer rewards point in exchange for purchases made in their outlets. Another way in which retail petrol outlets can promote their product is through sponsorship, Coles Express for example are sponsoring Daffodil day, a program not normally associated with fuel but this can help to grow an organisations impression, by living such a worthy cause, Coles express may gain wish from the community and in turn boost their profits. Place (Distribution)The transportation and distribution of products including fuel to retail petrol outlets operates under the marketing mix mob of Place. The science (or art) of ensuring products are in the justly place at the right time in the right quantity is k forthwithn as logistics and the variant partners that contribute to the process make up is called the supply chain. (Elliot et al. 2010 p.21) Retail petrol outlets operate somewhat differently to conventional service statio ns, the retail petrol outlets are often situated near to a parent supermarket caller-out (in the same complex) which makes supply of products other than fuel relatively easy as the distance for stock to travel is minimal.When looking at the fuel aspect, it can be seen that the logistics tend to become a lot more knotted and a more defined supply chain emerges. * First fuel is sourced from their respective supplier (Caltex or Shell) on a relatively round basis, as fuel is a required product for most of the community. * The fuel is then transported by truck from oil refineries which are based in more coastal areas (Caltex oil refinery in Kurnell NSW) which makes it easier to transfer oil from afield oil barges when new shipments arrive. * When the trucks reach the retail petrol outlet the fuel is then pumped into underground holding tanks, where the fuel can now be distributed to the customer via the petrol pump and now exchange of fuels can be made for a profit.ConclusionThis rep ort was compiled in order to describe the four elements of the marketing mix* Product* Price* Promotion* Place (distribution)The descriptions of these marketing mix elements were also shown in application how they are applied when breaking down the four aspects in relation to retail petrol outlets. Focusing on the Caltex Woolworths and Coles Express partnerships it was able to be shown how the marketing mix elements are applied. Products have been broken down into specific fuels and other items which are available to potential customers, these products have also been categorised as either Staple, Impulse or Emergency. Price has been shown to be of vital splendor, and the outcome of the price has to be both beneficial to the seller, and seen as a good deal to the buyer.Promotion has also proven to be of high importance to the overall marketing of retail petrol outlets, the use of shopper dockets for discounts, and sponsorship for awareness and image are important promotional tools o utlined above. Place (Distribution) outlines the logistics and supply chain which is in place for retail petrol outlets to gain their product in order to forward it onto the paying public to gain an overall profit. every four of these marketing mix elements play their own equally diametric role in ensuring the successful operation of retail petrol outlets.ReferencesColes Express website www.colesexpress.com.auCranston, B. (2009) NSW ACCC investigating supermarket petrol promotion. AAP Australian National News wireElliott, G. Rundle-Thiele, S. & Waller, D. (2010) Marketing. philia Action, The Economist. (1996) Vol. 338 Issue 7950, page 58Woolworths petrol website www.woolworthspetrol.com.au