Marketing Mix
Marketing Mix Paper
Lisa Curtin
MKT421
October 29, 2012
Sharon Lodewick
Marketing Mix
The four P’s in the marketing mix include product, price, promotion, and place. All of these factors impact marketing strategies in the timeshare industry. Diamond Resorts International (DRI) is no stranger to planning marketing campaigns based on these factors. The mission statement is simple and effective based on these factors. “Simplicity, Choice, and Comfort” is the basic mission statement and each word implies exactly what it says. Diamond Resorts knows the importance of encompassing all four of these factors to a successful marketing campaign.
Timeshare
The timeshare industry is a marketplace of heavy competition. This is a unique industry which sometimes has a bad reputation due to the nature of the business. Timeshare is an industry made up of a slightly intangible mix of service and product. The price of a timeshare purchase is comparable to that of a house and the upkeep cost for ownership (maintenance fees) can be expensive as well. Added together the expense of the purchase and the maintenance fees make timeshare a pricey investment. The amount of money needed to purchase a timeshare can make it a hard-sell, especially in tough economic times. Marketing becomes even more important in this type of situation because there is no revenue if sales are not taking place. DRI understands the importance of selling the company as a whole as opposed to just selling timeshare units to consumers. DRI places its importance on keeping current customers happy and taken care of as well as obtaining new buyers where some timeshare companies focus completely on the new sales and neglect the existing customers’ needs.
Product
“Diamond Resorts International is a global hospitality and vacation holiday brand committed to providing every owner, member, and guest with the simplicity, choice, and comfort they deserve”(DRI, 2012, n/a). Diamond Resorts offers a
Lisa Curtin
MKT421
October 29, 2012
Sharon Lodewick
Marketing Mix
The four P’s in the marketing mix include product, price, promotion, and place. All of these factors impact marketing strategies in the timeshare industry. Diamond Resorts International (DRI) is no stranger to planning marketing campaigns based on these factors. The mission statement is simple and effective based on these factors. “Simplicity, Choice, and Comfort” is the basic mission statement and each word implies exactly what it says. Diamond Resorts knows the importance of encompassing all four of these factors to a successful marketing campaign.
Timeshare
The timeshare industry is a marketplace of heavy competition. This is a unique industry which sometimes has a bad reputation due to the nature of the business. Timeshare is an industry made up of a slightly intangible mix of service and product. The price of a timeshare purchase is comparable to that of a house and the upkeep cost for ownership (maintenance fees) can be expensive as well. Added together the expense of the purchase and the maintenance fees make timeshare a pricey investment. The amount of money needed to purchase a timeshare can make it a hard-sell, especially in tough economic times. Marketing becomes even more important in this type of situation because there is no revenue if sales are not taking place. DRI understands the importance of selling the company as a whole as opposed to just selling timeshare units to consumers. DRI places its importance on keeping current customers happy and taken care of as well as obtaining new buyers where some timeshare companies focus completely on the new sales and neglect the existing customers’ needs.
Product
“Diamond Resorts International is a global hospitality and vacation holiday brand committed to providing every owner, member, and guest with the simplicity, choice, and comfort they deserve”(DRI, 2012, n/a). Diamond Resorts offers a
References: Diamond Resorts International. (2012). Retrieved on October 28, 2012 from: https://www.diamondresorts.com/ Redweek. (2012). Retrieved on October 29, 2012 from: http://www.redweek.com/timeshare-companies/diamond-resorts-international