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The Marketing Mix is a set of tools which is used by companies to market their products / services effectively. Illustrate how you would use this set of tools to develop an effective marketing mix for a service of your choice.
The marketing mix is a set of controllable, tactical marketing tools – namely, product, price, place, promotion, people, process and physical environment. A company needs to blend all these to produce the response it wants in its target market. The marketing mix helps the company to gain the reaction it is seeking from its target market in relation to its marketing objectives. Every element has its own function and importance and they should be integrated.
For the purposes of this essay, the example chosen for a service is that of British Airways, a British airline. A service is an object of a transaction that does not entail the transfer of ownership of a tangible commodity. A service is characterised by four characteristics: intangibility, incapability of being stored, incapability of being transported and variability.
Each of the seven marketing Ps ahs its own objectives. However, once these are integrated, the result is an effective and efficient service, which in turn leads to customer satisfaction.
Product means the service combination the company offers its target market. The core service of British Airways is that the passenger travels from one airport to another. The actual service of British Airways starts in the check-in. Boarding and safety are also an integral part. The augmented service, on the other hand, includes the on-board meal, newspapers, television, pillow and blankets. However, passengers are willing to pay less in return for a core service. This has happened due to the increased popularity of low-cost airlines such as Ryan Air.
Price is the amount of money customers customer have to pay to obtain the service. Customer are paying more for the augmented service, but they are willing to
The marketing mix is a set of controllable, tactical marketing tools – namely, product, price, place, promotion, people, process and physical environment. A company needs to blend all these to produce the response it wants in its target market. The marketing mix helps the company to gain the reaction it is seeking from its target market in relation to its marketing objectives. Every element has its own function and importance and they should be integrated.
For the purposes of this essay, the example chosen for a service is that of British Airways, a British airline. A service is an object of a transaction that does not entail the transfer of ownership of a tangible commodity. A service is characterised by four characteristics: intangibility, incapability of being stored, incapability of being transported and variability.
Each of the seven marketing Ps ahs its own objectives. However, once these are integrated, the result is an effective and efficient service, which in turn leads to customer satisfaction.
Product means the service combination the company offers its target market. The core service of British Airways is that the passenger travels from one airport to another. The actual service of British Airways starts in the check-in. Boarding and safety are also an integral part. The augmented service, on the other hand, includes the on-board meal, newspapers, television, pillow and blankets. However, passengers are willing to pay less in return for a core service. This has happened due to the increased popularity of low-cost airlines such as Ryan Air.
Price is the amount of money customers customer have to pay to obtain the service. Customer are paying more for the augmented service, but they are willing to