Marketing Mix

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Marketing Mix

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Marketing Mix

  1. 1. The Marketing Mix
  2. 2. The Marketing Mix
  3. 3. The Marketing Mix <ul><li>The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives </li></ul><ul><li>7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment </li></ul><ul><li>Traditional 4Ps extended to encompass growth of service industry </li></ul>
  4. 4. Price
  5. 5. Price <ul><li>Pricing Strategy </li></ul><ul><li>Importance of: </li></ul><ul><ul><li>knowing the market </li></ul></ul><ul><ul><li>elasticity </li></ul></ul><ul><ul><li>keeping an eye on rivals </li></ul></ul>Image copyright: www.freeimages.co.uk
  6. 6. Product
  7. 7. Product <ul><li>Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage e.g. </li></ul><ul><ul><li>Extension strategies </li></ul></ul><ul><ul><li>Specialised versions </li></ul></ul><ul><ul><li>New editions </li></ul></ul><ul><ul><li>Improvements – real or otherwise! </li></ul></ul><ul><ul><li>Changed packaging </li></ul></ul><ul><ul><li>Technology, etc. </li></ul></ul>Image copyright: www.freeimages.co.uk
  8. 8. Promotion
  9. 9. Promotion <ul><li>Strategies to make the consumer aware of the existence of a product or service </li></ul><ul><li>NOT just advertising </li></ul>
  10. 10. Place
  11. 11. Place <ul><li>The means by which products and services get from producer to consumer and where they can be accessed by the consumer </li></ul><ul><ul><li>The more places to buy the product and the easier it is made to buy it, the better for the business (and the consumer?) </li></ul></ul>
  12. 12. People
  13. 13. People <ul><li>People represent the business </li></ul><ul><ul><li>The image they present can be important </li></ul></ul><ul><ul><li>First contact often human – what is the lasting image they provide to the customer? </li></ul></ul><ul><ul><li>Extent of training and knowledge of the product/service concerned </li></ul></ul><ul><ul><li>Mission statement – how relevant? </li></ul></ul><ul><ul><li>Do staff represent the desired culture of the business? </li></ul></ul>
  14. 14. Process
  15. 15. Process <ul><li>How do people consume services? </li></ul><ul><li>What processes do they have to go through to acquire the services? </li></ul><ul><li>Where do they find the availability of the service? </li></ul><ul><ul><li>Contact </li></ul></ul><ul><ul><li>Reminders </li></ul></ul><ul><ul><li>Registration </li></ul></ul><ul><ul><li>Subscription </li></ul></ul><ul><ul><li>Form filling </li></ul></ul><ul><ul><li>Degree of technology </li></ul></ul>
  16. 16. Physical Environment
  17. 17. Physical Environment <ul><li>The ambience, mood or physical presentation of the environment </li></ul><ul><ul><li>Smart/shabby? </li></ul></ul><ul><ul><li>Trendy/retro/modern/old fashioned? </li></ul></ul><ul><ul><li>Light/dark/bright/subdued? </li></ul></ul><ul><ul><li>Romantic/chic/loud? </li></ul></ul><ul><ul><li>Clean/dirty/unkempt/neat? </li></ul></ul><ul><ul><li>Music? </li></ul></ul><ul><ul><li>Smell? </li></ul></ul>
  18. 18. The Marketing Mix <ul><li>Blend of the mix depends upon: </li></ul><ul><li>Marketing objectives </li></ul><ul><li>Type of product </li></ul><ul><li>Target market </li></ul><ul><li>Market structure </li></ul><ul><li>Rivals’ behaviour </li></ul><ul><li>Global issues – culture/religion, etc. </li></ul><ul><li>Marketing position </li></ul><ul><li>Product portfolio </li></ul><ul><ul><li>Product lifecycle </li></ul></ul><ul><ul><li>Boston Matrix </li></ul></ul>
  19. 19. The Marketing Mix
  20. 20. The Marketing Mix
  21. 21. Product
  22. 22. Promotion
  23. 23. Place
  24. 24. People
  25. 25. Process
  26. 26. Physical Environment
  27. 27. Price
  28. 28. The Marketing Mix in Travel and Tourism 1 BTEC Travel and Tourism
  29. 29. What is the Marketing Mix? <ul><li>Marketing Mix is a term describing the key elements used by an organisation to help it meet its marketing objectives </li></ul><ul><li>In travel and tourism we think of the mix as comprising the following: </li></ul>
  30. 30. Elements of the Marketing Mix <ul><li>Planning </li></ul><ul><li>Product </li></ul><ul><li>Price </li></ul><ul><li>Promotion </li></ul><ul><li>Place </li></ul>
  31. 31. Planning <ul><li>Using Mission Statements to set objectives such as: </li></ul><ul><li>profit targets </li></ul><ul><li>competing with other facilities </li></ul><ul><li>increasing market share </li></ul><ul><li>entering new markets </li></ul>
  32. 32. Product <ul><li>the product or service offered to customers </li></ul><ul><li>its characteristics </li></ul><ul><li>the niche(s) occupied by the product or service </li></ul><ul><li>how the product is branded </li></ul><ul><li>its USPs (Unique Selling Points) </li></ul>
  33. 33. Price <ul><li>how price is used to meet the facility’s overall objectives </li></ul><ul><li>the ability of the facility to change prices to reflect market changes </li></ul><ul><li>the impact of competitors on the price of the service </li></ul>
  34. 34. What Now? <ul><li>Go to the Activity that accompanies this Presentation to find out more about how the marketing mix is used in a facility involved in special interest tourism </li></ul>
  35. 35. The Marketing Mix in Travel and Tourism 2 BTEC Travel and Tourism
  36. 36. The Remaining Parts of the Marketing Mix <ul><li>Last lesson focused on the first three elements of the Marketing Mix </li></ul><ul><li>This session looks into the remaining two parts: </li></ul><ul><li>Place </li></ul><ul><li>Promotion </li></ul>
  37. 37. Elements of the Marketing Mix <ul><li>Place </li></ul><ul><li>How a travel and tourism organisation gets its services/products to its customers </li></ul><ul><li>Where the customer goes to access the product/ service </li></ul>
  38. 38. Elements of the Marketing Mix <ul><li>Promotion </li></ul><ul><li>Communicating the offer of a travel and tourism product/service to customers and the methods used </li></ul>
  39. 39. Place <ul><li>This is likely to involve: </li></ul><ul><li>Channels of distribution </li></ul><ul><li>Use of technology to reach customers </li></ul><ul><li>Physical location of the travel/tourism facility </li></ul><ul><li>Degree of accessibility to/for customers </li></ul>
  40. 40. Promotion <ul><li>The purpose of promoting the facility </li></ul><ul><li>Budgeting for promotion costs </li></ul><ul><li>Identifying the target audience </li></ul><ul><li>Methods used such as advertising, using the media, brochures/leaflets, PR, sales promotion, POS (Point of Sale) material, direct mail and telemarketing </li></ul>
  41. 41. What Now? <ul><li>Go to the Activity that accompanies this Presentation to find out more about how Place and Promotion are vital to the Anantara Resort and Spa facility in northern Thailand </li></ul>

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