For this research paper, we will discuss the marketing mix analysis of discount department stores. Understanding of marketing requires the following elements of a marketing mix. Firstly, the right product. Secondly, putting it in the right place, for the right price exactly with the right promotion. The right analysis of the marketing elements is one of the sources of competitive advantage for firms. Apart from product research and development, merchandising and distribution processes and pricing, marketing also requires a marketing communication mix. It refers to specific methods used to promote the company or its products to targeted customers.
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MARKETING MIX ANALYSIS AND MANAGEMENT THEORY

Basic marketing theory states that to maximize sales, a company must position its products or services in the marketplace in such a way that consumers believe they need a particular product for service or that a product or service they need has a particular benefit. Therefore the use of the right marketing communication mix is key to retain customers and attract new ones. Finding a difference between your product and others is often called finding your unique selling proposition or unique selling differential. This creates a source of competitive advantage. The value of your product is perceived by customers differently depending on the usage of the elements of a marketing mix, such as price.

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DISCUSSING MARKETING MIX ANALYSIS AND DISCOUNT DEPARTMENT STORES

Companies in this industry operate physical retail establishments that sell a wide variety of merchandise.  Apparel, household furnishings, and personal care products, for instance. The sources of competitive advantage for this industry is mainly population growth and consumer spending drive. Additionally, the profitability of individual companies depends on efficient supply chain management, effective merchandising, and the right usage of the elements of a marketing mix. Many discount stores continue to improving their facilities and appearances, adding new lines and services. Additionally, this is possible by  applying the right marketing communication mix for their customers

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