Marketing Mix and Marketing Plan
4.1 Marketing mix
The marketing mix is one of the major concepts in modern marketing and is often brought up in general discussions of marketing. Marketing mix is a set of marketing tools that a company uses to pursue its marketing objectives in the target market. When a company is making decisions on marketing they generally fall into four controllable categories known as the 4 P’s: product, price, place and promotion. As shown in the figure 3; in Kotler’s Marketing mix chart the target market is placed in the middle. The main idea of marketing is to influence and persuade the consumer to buy and use the company’s product or service. In order to get customers to do so a company uses the four P’s as a mixture in order to influence the demand for its products. (Kotler 2004: 56-57)
In the hospitality industry the products are primarily designed to satisfy the needs and wants of business and leisure travelers. As part of the marketing mix for
Figure 3: The four P’s of the marketing mix (Kotler 2004: 58)
A Marketing Plan
Unit 5 –Marketing Plan
Firms that are successful in marketing invariably start with a marketing plan. The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, and customers come and go.
In many respects, the Marketing Plan is the most important document produced by marketers as it not only helps to justify what has occurred in the past, but is critical for explaining where a company intends to go in the future.
The first step is the Situation Analyses. The purpose of the situation analysis is to indicate to a company about the organizational and product position, as well as the overall survival of the business, within the environment.
This allows for the evaluation of the company's objectives, strategy and capabilities. These areas indicate to an organization about the strength of the product or whether there are areas for
The marketing mix is one of the major concepts in modern marketing and is often brought up in general discussions of marketing. Marketing mix is a set of marketing tools that a company uses to pursue its marketing objectives in the target market. When a company is making decisions on marketing they generally fall into four controllable categories known as the 4 P’s: product, price, place and promotion. As shown in the figure 3; in Kotler’s Marketing mix chart the target market is placed in the middle. The main idea of marketing is to influence and persuade the consumer to buy and use the company’s product or service. In order to get customers to do so a company uses the four P’s as a mixture in order to influence the demand for its products. (Kotler 2004: 56-57)
In the hospitality industry the products are primarily designed to satisfy the needs and wants of business and leisure travelers. As part of the marketing mix for
Figure 3: The four P’s of the marketing mix (Kotler 2004: 58)
A Marketing Plan
Unit 5 –Marketing Plan
Firms that are successful in marketing invariably start with a marketing plan. The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, and customers come and go.
In many respects, the Marketing Plan is the most important document produced by marketers as it not only helps to justify what has occurred in the past, but is critical for explaining where a company intends to go in the future.
The first step is the Situation Analyses. The purpose of the situation analysis is to indicate to a company about the organizational and product position, as well as the overall survival of the business, within the environment.
This allows for the evaluation of the company's objectives, strategy and capabilities. These areas indicate to an organization about the strength of the product or whether there are areas for