The Marketing Mix Product The product is the most important aspect of the marketing mix. The product can be a service or even a holiday destination. Products have both tangible and intangible benefits. Tangible benefits include benefits, which can be measured such as the top speed of a car. Intangible benefits are benefits that cannot be measured such as the enjoyment the customer will get from the product. It is important that the product is changed as necessary to bring it up to date and prevent it from being overtaken by competitors. I’m going to selling a travel service using air travel. It will be a low cost airline that will fly from a variety of different airports in the UK notably in the north where no low cost airline is available, and to a range of different European destinations. I will be offering customers the lowest prices as well as complete customer satisfaction. Hopefully I will be able to compete with the current cutthroat competition in today’s airline industry. The research I acquired from various sources helped me to learn hat customers actually want which is basically hassle-free cheap and quick travel. I also learnt essential tips about starting up an airline, for example the biggest mistake airlines could make when starting an airline service is over ordering too many aircrafts. I will aim to position my product in the minds of the customers by allocating seats to provide them with the opportunity to sit next to friends and family and also to create less chaos when boarding the aircraft. And also with the items available to buy on the aircraft. The competition’s product portfolios usual... ... middle of paper ... ...on at all times, from booking the flight to baggage reclaim at their chosen destination we expect our customers to be left hassle free and to arrive on time after a smooth flight. The company must make sure that our disabled customers are provided with everything they need to ensure a good and safe journey. We will mainly focus on making sure that the customer is never mislead and that they always understand what we are asking them. We will make sure that our company provides excellent customer service by continuously asking the customers for their thoughts and opinions on our current service, asking them to fill out frequent questionnaires and encourage them to report anything bad or good to a member of staff. This could make the company look full problems but it means we can improvements to the problems much quicker.
The airline industry has long attempted to segment the air travel market in order to effectively target its constituents. The classic airline model consists of First Class, Business Class and Economy, and the demographics that make up the classes have both similarities and differences to the other classes. For instance there may be similarities between business class travellers on a particular flight, but they will not all be travelling for the same reason. An almost-universal characteristic of air travel is that customers do not fly for the sake of flying; the destination is the important element and the travel is a by-product, a means-to-an-end that involves the necessity of an aircraft that gets the customer from point A to point B. Because the reasons can differ greatly in the motivations for a customer wanting to fly, it can be difficult to divide the market into discrete segments, that is, there is always going to be overlap in the preferences and characteristics of any given segment. With that in mind, the commonalities that are shared between the clientele that make up the respective classes can easily withstand analysis.
Public relations is a tactical way businesses and their customers’ communication constructs conjointly and affiliate cooperatively. As an account executive, it is very important to discover all that is possible about a new client. Research of a new organization helps to recognize the strengths and weaknesses of that company as well how to improve, and to create new opportunities regarding of its decision policy and communication. The Airline Business has continuously remained a foremost modernization in marketing strategies however Airlines segment their customers by seating class such as first, economy, business class; it does not give the insight for the customers need and motivation in terms of airline travels. As we can see by travel with this company, theirs is room for improvement in the
EasyJet’s provision of low cost flights and it basis of “the earlier you book the ticket, the less you pay“ gives it opportunity to target its customers. EasyJet also provides a number of aircrafts in various airports thus easily accessibility of their services; this acts as it drivers in the market control and competitive advantage. It also has the advantage of providing other services such as car hiring, internet services and restaurants (Saleem, 2010). The ‘Europe by easy jet’ established a resounding brand positioning that is effective across all the main markets and enhanced visits to easyJet.com. EasyJet targets the consumers through various channels that help them to reduce marketing cost per sales. In 2001, EasyJet launched ‘easy Jet mobile app” which was downloaded by over six million people which accounted for 5% of overall sales. Mobile boarding cards are available through the app and make it easy for cust...
The LEGO Group organization is famous due to its flagship product – colourful plastic bricks that can be interlocked to form a variety of figures, and then disconnected again. These binding bricks originated in a wooden form when the company was first established in Billund, Denmark by Kirk Kristiansen in 1932 (The LEGO Group, 2012), and today’s well known plastic version was introduced in 1958 (Rosenberg). The company’s head office is located in Billund to this day, and The LEGO Group remains privately owned by Kristiansen’s family (The LEGO Group, 2012). They currently sell toys and teaching materials in over 130 countries worldwide.
Customer service is valued as a competitive tool by many organisations. It gives you the ability to gain customer loyalty while meeting the customer’s expectations. Staff will have many skills and knowledge that will provide a competitive edge. Most organisations are known for the quality of their customer service. This means that they are known for good customer service or poor customer service. However, being known for good customer service will attract customers. It will also attract customers who are usually hard to reach.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
1. Issues 2. American Airlines’ objectives 3. The airline industry 4. Market 5. Consumer needs 6. Brand image 7. Distribution system 8. Pricing 9. Marketing related strategies 10. Assumptions and risks
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements to the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion. In a dysfunctional time for the airline industry, most airlines, especially major carriers, are adapting the concept of "doing less with more." One low-cost carrier, JetBlue, is changing the domestic aviation landscape in this regard and is defying the odds. Here is a company that has examined each marketing mix elements carefully, has adapted them to its customer’s needs, and is succeeding because of this approach.
Strive to earn customers’ long-term loyalty by working to deliver more than promised, being honest and fair to provide exceptional personalized service that creates a pleasing business experience.
It's very well known that a companies success is not only dependant on the possession of a good product or service, but the key aspect to a successful business is excellent customer service. As the market grows, now more then ever companies are emerging, they are offering very similar types of products and services. Successful customer service can be a way a business becomes original and unique, it can be the key to attracting and maintaining loyal customers. Good customer service can start-up a business while bad customer service can harm a company. An average customer that experiences an issue will complaint to 9-10 people about the problem. A customer that received support to their problem and a potential solution will tell at least five
To create a successful marketing mix you must have all of the following aspects: the right product for your target market, sold to your target market at the appropriate price,in the right place and time, while using the most fitting promotion. ( Marketing Theory 1995.) The product, price, place, and promotion all are of uttermost importance in a business, since all businesses must complete all of these activities, including advertising agencies and research firms, everybody in the business world should understand the marketing mix.
The marketing mix is important to the sport industry because it allows a sport marketer to better understand the market they are selling in, and enables a sport marketer to generate an increase in revenue. The marketing mix contains the four p’s, which include: product, price, place and promotion. Each of the p’s in the marketing mix are all vitally important because they are what you are selling, why you are selling, where you sell it at, and how you promote what a sport marketer is selling. The marketing mix is essential to the sports industry because it enables a sport marketer to better understand their product, and improve sales.
The term "product" refers to tangible, physical products as well as services. It also means defining the characteristics of your product or service to meet the customers' needs. AirAsia’s philosophy is girded by the fact that they have been seen as a small airline competitor for many years. Therefore, in order to win more customers and return customers, they need to ensure that their primary products and services are up to par and meet the defining needs of customers. AirAsia offered (product) tangible and (services) intangible good to increase the demand of customer. (AIR ASIA MARKETING PLAN, 2015)
“Excellent customer service is the process by which your organization delivers its services or products in a way that allows the customer to access them in the most efficient, fair, cost effective, and humanly satisfying and pleasurable manner possible”, (Jack Speer, 2005).
Customer Service is the provision of service to customers before, during and after a purchase. The perception of success of such connections is subject to workers "who can modify themselves to the identity of the visitor". Customer service concerns the need an association relegates to customer service in respect to segments, for example, item development and valuing. In this sense, an association that esteems good customer service may spend more cash in preparing representatives than the normal association or may proactively interview customers for feedback.