Research proposal

Topic: Role of Marketing Mix Variable on Target Market

Abstract:
The 4 Ps are marketing "mix".You control the 4Ps. They are your "independent" variables.
The dependent variable is sales volume. This is the output that you get by defining the inputs
- i.e. the 4 P's. How do you choose this mix? That is the challenge! There are various tools
that might be helpful in this regard. For example, the "Product Space Map" lets you plot your
product's price vs performance against others in the market. You can then decide how you
want to position yourself with respect to your competitors while at the same time keeping in
mind your corporate objectives.
In conclusion, the important points to remember about the four P's of marketing are:

4 Ps are interdependent (each depends on the others)

4 Ps constitute your "Marketing Strategy"

You control these (independent variables)

Product is only one "P"

Sales volume is the dependent variable

You must "own" your market (define it so you can lead it)

Introduction:
Marketing Mix variable is a set of four decisions to be made whenever a company is planning
to launch a product to its target market. These variables are known as 4ps of marketing. The
4Ps are
-

Product
Place
Price
Promotion

Before launching any product, brands need to gather information regarding their behavioural
style, their likes and dislike and upon those factors, companies launch a product that will help
them to their purchase decision. Companies also have to look for the place where their
product will be placed. For example, Gloria jeans coffee (a Coffee cafe) will not open its
outlet in a village near Lahore because its target market would lie in Defence Area etc. Same
is the case with Price setting, because setting a price would also help clients to know about

the product. Price is set according to its quality and other factors such as promotion, its place
of offering, its target market etc.
The fourth P is Promotion. Promotion means that how you will convey the
message to your target audience. Advertising through social media or direct marketing,
relationship marketing or viral marketing, it all depends on what your product offer, its
placement in the market and the price.
Now, when we talk about service marketing, the process of marketing mix has been expanded
over years. Along with the 4Ps, the service marketing also include 3 extra Ps, which are:
-

People
Processes
Physical evidence

The service industry also relies upon these factors. These factors relate to service industry
because in service sector, consumer is a part of the final product. It co-creates the product.
Suppose, if you order a pizza you need to co-create it. You cannot only ask the person over
the counter to make a pizza for you; you need to add toppings and meat according to your
own taste. Therefore, a service sector needs people, without people you are not going to have
process complete. Secondly, we have to pass through a complete process in order to get the
final product. For example, you plan to have dinner in a restaurant. You need to visit that
restaurant, you order the food and then after dine out you pay the bill. So its a complete
process step by step through which you have to pass. Third is the physical evidence where the
process is going to happen. You want to have steak for dinner, so you need to go to some
restaurants, which will have physical evidence where a service is being offered. Then you
need to engage with people in order to finalize your produce and you will have to pass
through a proper process in order to get your final product.
To sum up, marketing mix plays a very important role in selling your product and
services. Once to finalise your target audience you need to make product or design according
to the their interest and placing in the right place with the right price tag on it and prompting
it in the right way which attracts your target audience. For service sector, physical evidence is
a must, because a service is being to be offered there and you need people to make your
service successful. And in the end you have to pass through a proper process to make your
service process complete.

Literature Review:
Over the decades, marketing trends have been changed from traditional marketing to digital
marketing. Viral, buzz or word of mouth all marketing tactics adds value to the brands. Just
like marketing, the marketing mix has also evolved and from 4Ps it increases to 7Ps and
now even some authors talk about 11Ps like Participation, peer to peer, personalization etc.
The marketing mix delivers the core value to the entire brand, the product, place, price and
promotion.

The concept is simple. Think about another common mix a cake mix. All cakes contain
eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of
mix elements contained in it. So for a sweet cake add more sugar!
It is the same with the marketing mix. The offer you make to your customer can be altered by
varying the mix elements. So for a high profile brand, increase the focus on promotion and
desensitize the weight given to price.
Kotler and Armstrong (2010).

We want at our convenience from almost anywhere in the world; meaning every person can
enjoy a unique viewing Today we live in the world of niche. For example, we are no longer
prisoners of television schedules. We can watch what experience.
The marketing mix is the set of controllable, tactical marketing tools that a company uses to
produce a desired response from its target market. It consists of everything that a company
can do to influence demand for its product. It is also a tool to help marketing planning and
execution.An effective marketing strategy combines the 4 Ps of the marketing mix. It is
designed to meet the companys marketing objectives by providing its customers with value.
The 4 Ps of the marketing mix are related, and combine to establish the products position
within its target markets.
Targeted marketing is the process of identifying customers and promoting products and
services via mediums that are likely to reach those potential customers.Targeted marketing
classifies potential customers, discovers their preferred content delivery mode and digital
hangouts and then builds a marketing strategy aimed at that specific group. Targeted
marketing is generally limited in scope but is often more productive than broader types of
marketing because it is designed around specific customer preferences.

The best way to gauge the effectiveness of your marketing mix is through measurable
outcomes (e.g. lead generation, online analytics, and bottom line value). The problem is that
marketing cycles can be long and by the time you realize your marketing mix is out of whack,
it could be too late to do anything about it. So in the meantime, you'll have to rely on other
evaluation factors.
The marketing mix is a fluid and flexible concept and the focus on any one variable may be
increased or decreased given unique marketing conditions and customer needs. A very
important feature of the marketing mix is that the customer is the central point of the action.
The value of the product is determined by customer perceptions and the goal is to achieve a
satisfied and loyal customer. Over the years, marketing managers have felt that the
conventional marketing mix has its restrictions in how it is well thought-out. Several
important elements have been grouped within four larger categories thereby belittling their
true importance among several factors.
Commonly, marketing mix: the 4Ps (product, price, place, promotion) for the
meaning of marketing. The correct message of 4pPs is that 4Ps are used as functional tools
to help executing marketing strategies and eventually to facilitate the efficiency of an
exchange.

Physical Evidence is proof and a support that a service was performed

People are the employees who deliver the service

Processes are the methods through which a service is executed and delivered to the
customer

HYPOTHESIS:
Ho: There is a significant relationship between positioning and branding.
The product and services we offer to consumer are based upon our target market. Sometime
we need to do mass production, sometimes niche marketing. Therefore branding depends
upon our target market. Our offerings have an impact on our target market for example;
Rolex Company will never give its adverts in some local newspaper. There is a target market
for the Rolex company. Another example to prove this relationship is that chaye khana (cafe
based in F-6) would never open it franchise in some rural areas because its target market lies
in urban areas. Basically the branding of any company will always be for its target market
and the placement of products and services are also according to its target market.

H1: There is a significant relationship between offerings and consumer awareness.

Nowadays we need to inform our customers about the product and services we offer. In every
industry there is always a very tough competition and we need to inform our customer about
our products and services through advertising and promotion. For example Yamaha
Motorcycle Company introduces it new YBR 125 sports motorcycle in Pakistan has done
heavily advertisements in order to give a competitive edge to Honda atlas Motorcycle
Company which is a leading motorcycle company in Pakistan. Now company has made
aware about its product to the consumer in order to survive in the global village.
H2: Higher level of service will have a positive impact on brand equity.

Theoretical Framework:

Consumer Awareness
Positioning
Marketing Mix

Target Market
Diversification
Brand Equity

Research Methodology:

Market study:
In this study we have studied different companies and consumers which are from Islamabad
and Rawalpindi and different sectors which target market according to their product and
services. Companies tend to select target market first for their product and business
operations and then target according to them.

Sample and Procedure:

In our research study role of marketing mix variables on target market. We have selected the
FURNITURE INDUSTRY as our research study. We have develop two types of procedures
first one is Questionnaires to gain the sound knowledge about how marketing mix variable
impacts our target market. Second one is the interviews which will be taken from the persons
which are doing business of furniture.

SWOT Analysis:
In our research about the furniture industry we have also applied the swot analysis for gaining
more knowledge about the target market for our furniture industry.
STRENGHTS:
The strength for this particular industry is that Pakistan have many different types of wood
available such as wood walnut, diyar and rose wood etc.
WEAKNESS:
In the weakness we got to know about the major issue about this industry is that the
negligence by the government for this industry. We are lacking behind from the rest of the
world i.e the use of modern technology and machinery and the use of labour in this era but
the rest of the world is using modern machines and CNC machines.
OPPURTUNITIES:
If the industry is probably managed and operationalized Pakistan can export around the world
and we will gain the world attention because of the quality of the wood we have in Pakistan.
Nowadays we have started a small scale exports to different countries.
THREATS:
People are buying imported furniture because of the quality and designs which affects our
local industry. People are unaware of the local industry thats why they are attracted towards
to the imported furniture.

Data Analysis:
After data collection we tried to analyze it the data we collected is from questionnaire,
research papers and swot analysis. We also use the help of internet but we found that
questionnaire and research articles were more effective.

Conclusion:
To conclude results of this study that marketing mix variable plays an important role for
target market. The product, place , promotion and price matters but in context of furniture
industry what we get know about is that consumers need the quality product, promotion do
matters but merely in case of furniture industry price is also secondary when it comes to
quality product. Placement of products also play a vital role in the target market. Therefore
product matter the most then placement followed by the price and then promotion take place
because people rely on the word of mouth mostly.
The relationship between positioning and branding is significant because when you position
your product in front of target market becomes a brand either good or bad for example NIKE
has positioned itself as an athletic brand and it ranked as one of the top brands in the athletic

wear around the world. Now if we look at SAVOUR FOODS it has positioned itself as
quality food in economical price which is afforded by all the class whether its upper, middle
or lower. Profit may be less but the customer attraction toward its brand is in large quantities.
The relation between offering and consumer awareness is also effective. If the consumers are
not aware about the product then how the product could could be offered to the right
consumers. Consumer is being aware for the product and services by the advertisements and
promotions for example APPLE. Inc promoted its product only on their websites and social
media because of the most successful brand in the whole world. Therefore people tend to
differentiate from the masses.
There is also a significant relationship between diversification and brand equity. For example,
Nike was started as a shoe maker company, but gradually it has developed a portfolio of
different apparel items as well. Therefore the overall worth of a company increases due to
diversified portfolio of products.
So, with context of future industry what we examined is that the more product
portfolio is available; brand equity of that brand will be more. For example, Interwood mobel
(PVT) ltd. Is a furniture company operating in Pakistan has a diversified portfolio and it has a
much higher brand equity. To sum up, we can say that role of marketing mix variable creates
an impact on target market.