Additional Elements Of The Extended Marketing Mix Marketing Essay

Additional Elements Of The Extended Marketing Mix Marketing EssayThis essay looks at the main elements of both the original and the extended trade mingle. This includes an introduction to the concept of the merchandise life cycle, new product trailment, set strategies, distri saveion options and the promotion mix. Finally, the essay develops securities industrying mixes for Deans Leisure Centre to meet the involve of antithetic butt end groups.Explain how products argon developed to sustain competitive service.Sustainable competitive advantage is the focal point of a corporate strategy. It allows the nutriment and improvement of an enterprises competitive position in the trade. It is an advantage that enables business to survive against its competition over a long period of time. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies high ge arer prices key (Appendix 1). When a firm sustains profits that exceed the average for its industry, the firm is said to possess a competitive advantage over its rivals. The goal of much of business strategy is to achieve a sustainable competitive advantage. Porter identified two basic types of competitive advantage and cost advantage. suppose (Appendix 2)When an organisation introduces a product into a market they must consider who is the product aimed at, what benefit go verboten guests expect, how does the firm plan to position the product within the market and what first derivative advantage will the product offer over their competitors. Kotler suggested that a product should be viewed in three trains Core Product, Actual Product and Augmented product. examine Deans product levels in (Appendix 3).However, for a product to be able to sustain competitive advantage the term New Product Development has been developed. This has been invented to check and develop the v iability of a product which is new to a market. Deans think about term of new product development in order to sustain or pattern a competitive advantage. To do this Deans follow (NPD) processes, see (Appendix 4). Deans is the market leader in providing various products like lycee, spa and hydrotherapy pool as thither are no competitors in this sector. There superb image makes the organisation more strong. Deans is providing good quality products with qualified staff, good atmosphere and hygienic environment. motive level of staff is very high which make the organisation more prosperous. They have enough resources for operating different activities of the organisation. They have created good image in customers mind another big strength and even a competitive advantage is the fact that they have a full service gym Deans sack market too many different segments that other gym gitnot do. For standard, Deans is open to all staffs, students and community much easier than other fit ness centres because most of the people are not good financially so they can attract by their low prices with good quality gym services. They are providing high range of products relatively with low prices.Explain how distribution is arranged to provide customer convenience.Distribution really plays a very alpha role in enhancing the convenience of the customers then distribution system of a political party can appear as a major competency for the company. There are four elements of market mix including product, price, promotion and place. The distribution conveys under the place category and the companies develop proper distribution system because accessibility of the customers enhances the potential sales for a company. Two types of epithelial duct of distribution methods are available. Indirect distribution involves distributing product by the use of an intermediary. Direct distribution involves distributing direct from a manufacturer to the consumer.For example, Deans alre ady has its location so will therefore look at the fate and wants of its customers in this area, with staff and students of the college. If Deans does not outsource its distribution services then customers may not impulsive to get them. They must distribute the product to the user at the right place at the right time. Deans consider on its overall market objectives to be efficient and effective.Explain how prices are set to reflect an organisations objectives and market conditions.One of the aspects in the marketing mix is pricing. This part of the 7 Ps are the atomic number 53 creating revenue and which is also why it is important that an organisation chooses the correct price. The price is determined by the discovery of what the customer finds reasonable and this is also why a lot of organisations chooses to do researches of the consumers opinions before the product goes to the markets. Pricing is difficult and must reflect supply and demand relationship. Pricing a product too high or too low could mean a loss of sales for the organisation.Pricing is one of the most important elements of the Dean Gym marketing mix, as it is the only mix, which generates a turnover for the Deans. The gym can adopt a number of pricing strategies. The pricing strategies are based much on what objectives the company has set itself to achieve, see belowPenetration pricing Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may intimately then increase their priceSkimming pricing The organisation sets an initial high price and then tardily lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer.Competition pricing Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher.Discount pricing This involve offering a reduced price of certain types and groups of customers.Variable pricing An organisation can very price by customer types, level and quality of service, times and days, seasons and so on.Cost-plus pricing Here the firm add a percentage to costs as profit margin to come to their final pricing decisions.Convincing consumers to try a new product or service is one of the biggest challenges small businesses face. Marketing can be curiously difficult for membership like gyms because consumers may be wary of committing to a recurring fee. Dean Gym use pricing tactic to help framing a base of customers. As there are such competitors of Deans gym which could compete with the quality of gym produced at Deans, therefore the pricing strategy adopt by Deans gym is discount pricing. Dean uses free trials because some people simply will not spend money on a gym membership unless they can try it out first, which is why they give two months free membership and it can give customers the opportunity to see if a forwardness suits their needs. They offering low introductory rates because it is another tactic that Dean Gym can use to attract new customers. For example, Dean has periodic membership, where members hand monthly straight out of their bank account and with no contract. They also has annual advance, with this option customers pay for their membership for the year up front, but they will give them two months free. Deans offer 10% discounts for families and children. Families and children often go to the gym together, which can make gym membership a group decision.However, pricing strategies can improve Deans customer loyalty and ultimately lead to better membership numbers.Illustrate how promotional activity is integrated to achieve marketing objectives.These activities are performed in order to awake and aware the consumers about the product. advance being a feature of marketing mix consists of communication among the consumer and supplier of that product. Promotional activities are important chemical elemen t because it tells the consumer about the product from different regions and it becomes difficult in selling a product if they are not being anticipated in the market through different promotional activities. The promotional mix consistsAdvertising Presentation of the product which is wanted to be promoted- this can be done by for example bill boards, banners or posters. The advantages are advertising can inform people about different products and services, their utilities, cost and other requirements. The disadvantage is cost because advertising is more expansive.Personal Selling This can be done by a company by training their sales team to know all need to know about the product so it can be sold by a presentation. Personal selling is one of the ways to keep good customers relationships, but this method is expensive.Sales promotion Here it is communicated in a time limited way to increase consumer demand by for example contests, samples or trade shows. The advantage is that sales promotion can help companies to provide right information to customers, also it encourage repeat purchases and customer loyalty, but the advantages are that it increase price sensitivity and it is generally for a short durationPublic relations This can be paid or non paid stimulations of a product. This can be a product represented in for example magazines, TV or radio etc. PR is inexpensiveness of the cost, but it is hard to point about the responses and it increase the risk.Direct marketing This aspect is a way to reach the consumers directly, such as fliers or street advertising. It allow to target particular proposition customer and it can be measureable, but it is hard to get as immediate of an impact when using direct marketing and it can be sort of expansive.For example, for the promotion Deans adopt advertisement, public relations and internet marketing.Analyse the additional elements of the extended marketing mixMarketing mix has three additional elements People, affect and Physical EvidencePeople This refers to the people who are in direct contact with the customer such as staff. One of the of import parts in selling a product is the staff and its service as lot of people rely on a good service before buy a product. The employees should have the appropriate interpersonal skills, attitude and knowledge of the product. Some companies make sure to train their staff to ensure the service the customer is want for- this can be done by guidelines of selling or training schools in selling. For example, the employees in Dean Gym have a standard same and Dean specially focuses on friendly and prompt service to its customers from their employees. The employees are part time workers and full time workers.Process This concerns the process of delivering a service. It is crucial that the company delivers as easy as possible and completing a sale without any unnecessary steps. Dean has a number of processes involved in making marketing effective in organisati on e.g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling equipments.Physical evidence This part of the mix is an inwrought part where consumers will base their decisions based on the service which is partly visible. This could be a members card, a friendly environment. Dean gym focuses on scavenge and hygienic interiors of its outlets and at the same time the interiors are attractive and the gym maintains a proper etiquette at its joints. The design, furnishing, layout and decoration of the gym chain as well as the appearance and attitudes of its employees will influence customer perceptions of the service quality and experiences.Plan marketing mixes for two different segments in consumer markets.Deans is focusing on target market when it markets a product it mainly consider on demographic and physiographic segmentations where demographic segment before it markets it identify the consumer groups in age, s ex, education, race, and occupation, and in physiographic it divides the market into different levels as Lower class, middle class, and upper class to identify their customers, Where Deans has planned to market a new product for a different segmentation so it needs to identify the consumers. After the segmentation Deans consider on the marketing mix its also called as the 4ps.Deans gym 4PsProduct Deans gym offers a human body of fitness equipment for both strength training and cardio. The gym has a state of the art fitness suite equipped with the latest Technogym Visio Web cardiovascular equipment. This allows customer to browse the web, watch television, read articles or update social internet account whilst working out. If you prefer a group exercise programme timetable is available. See (Appendix 5) terms Deans offer two different price sections for the gym, one for students and staff of the college at a reduced rate but with limited hours, these hours are knowing to work arou nd students courses and another that student/staff of the college can use over more hours and use more of the facilities. The gym then offers a abstract to the public of Bronze/Silver/Gold/Platinum. See membership options and price list in (Appendix 6)Place Deans Sport and leisure is located at Knights Building, capital of Nebraska College. This is a prime location for Lincoln college students and staffs to be target as an expansion of their current market share as it is within the college. See (Appendix 7)Promotion Deans is currently using public relations and internet marketing, where they advertise through radio, magazine, news paper, and social network like Facebook, Tweeter, and their official website.Deans spa 4PsProduct Deans spa is part of membership, where they offer spa pool with loungers, sauna, steam room, tropical shower, ice shower, foot spa. Additional packages include Spa packages, dermalogica facials, massage, body treatments, hands and feet, salon. See (Appendix 8)Price Deans offer three different price sections for the spa senior spa therapist, spa therapist and student therapist. See (Appendix 9)Place Deans spa is located at Deans Building, Lincoln College. Same as Deans gym students and staffs are their target market.Promotion same as the gym, Deans spa also use radio, magazine, news paper, and social network and their official website to advertise their products.Illustrate differences in marketing products and services to businesses rather than consumersThere are some characteristics to a service such as overleap of ownership, tangibility, intangibility and inseparability. Each of these needs to be taken into account when marketing a service.Customers cannot own and inclose a service like they can store a product. Services are used for a period of time. For example Deans gym have membership option where customers pay for option to use monthly and annually. A product is something which is tangible where as a service is intangible. A pr oduct is much easier than the service because after marketing and selling a product there is something tangible to be seen by the customer for his/her satisfaction but in services he/she cannot because its intangible.For example, Deans gym provides a variety of products all relate to the health, well being, and self-esteem of its members. Their tangible products include personal weight control, weight room, cardio, tanning, personal training, and a variety of drinks, supplements, and health items that all may be purchased at the Gym, but their intangible product is their services. Services cannot be separated from service providers. A product can be taken away from the producer but a service cannot be taken away as it involves the service provider. For example Deans provide group exercise such as strength training, cardio and leap classes.On other hand, the marketer needs to analyse the major demand of customers in a specific market in order to find out a product that can respond the market demand. Firstly, marketers have to improve products to meet customers demand as much as possible. Secondly, the price is an important factor in product marketing because of the price must be set to match with the purchasing power of a target group. Thirdly, the place of product marketing refers to distribution channels to deliver and sell the product to customers. Lastly, the marketer also needs to create the promotion on the product in order to pack customers and motivate the sale in a short term.ConclusionFor a company to be able to implement their marketing concept successfully the marketing mix is essential. After applying the three additional Ps it has enables the present service standard to be reached. This way a company will reach a bigger customer satisfaction as they reach their customers better in what they want and need to the easiest way for them to purchase the product. It is important when going into a different market that the companys marketing focuses on all of the different aspects in the tools of the marketing umbrella.