Background[ edit ] This section has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page.
Once a company has worked on the product and price elements, it is time to start a conversation with the consumer about the product.
This includes raising awareness through different mediums to increase sales, as well as to create and foster brand loyalty. Information provided to the customer at this stage helps them in making purchase decisions regarding the product.
Often, there is substantial cost associated with promotional activities. But since the result is often an increase in sales or customer loyalty, there is thought to be long term return on this investment. There are many ends that a company may try to reach through a promotion including but not limited to an increase in sales, acceptance of new products, brand equity creation and brand positioning, addressing competitor actions and rebranding.
It is creating a channel for conversation with the targeted consumer base. The team tasked with these activities will begin by understanding the dynamics of the target audience and deciding which modes of promotion are likely to help meet targets.
Once the channel is decided, information from other elements of the mix is incorporated to ensure that the message sent corresponds to the actual product features, benefits and user experience.
None of the elements of the marketing mix work in isolation. The available information is filtered to include those areas which will be most relevant to the target audience. These expectations are developed into objectives which then shape the selection and execution of these activities.
Some possible objectives of promotion for any company may include: Building Awareness Often, a product or brand may need to create an identity within the market. For the most part, this applies to a new company, a new brand or a new product. But often it may also be needed in times of rebranding or building up a failing product.
The aim then is to select those promotional activities that help inform the customer about the company and the product.
Creating Interest If the customer is already aware of the product or has been made aware through some activities, it becomes necessary to move them along to actual purchasing behavior. The aim here is to identify a need that the product fulfills and make sure that the customer recognizes this need as something that is unfulfilled for them.
Providing Information Sometimes, a company may just need to provide necessary information regarding the product, its benefits, features or usage to the consumer. This may be the case if a new product is introduced into the market. Unique features or benefits may need to be explained.
In other cases, a new feature on an existing product may need to be highlighted. In some cases, such as in instances where environmental impact or health scares may be in play, information about a change in business practices and company policy may need to be communicated.
Stimulate Demand A company may seek to enhance its sales through promotion. If sales have been lower than usual, then the aim may be to get them back up to target level by re-engaging old customers and encouraging new ones to try a product out.
In other instances, the aim may be to increase sales further at certain times of the year such as near a major holiday. Free demonstrations or special deals may be used to reach these ends.
Differentiate product In situations where there are many competitors in the market, a company may seek to use promotional activities to differentiate its product in the market and make it stand out from the crowd. The focus here remains on those features, functionalities or benefits that may not be offered by a competitor or may not be offered so well.
Reinforce the Brand One basic aim of a promotional activity may be to further strengthen the brand and its place in the market. This helps turn a first time purchases into a life time purchaser. This can also help create advocates for the product from within the customer base.
The activity is therefore created using messages, cues and information that they will respond to. Realistically, the major portion of any promotional budget is aimed at this specific targeted audience.
However, there may be important fringe groups who may have an influence over the intended target or stake in the product.The cruise industry is worth $37 billion.
Even after some serious public relations setbacks, such as the Carnival Triumph’s “Poop Cruise,” the Royal Caribbean norovirus outbreak, and the sinking of the Costa Concordia, the industry continues to do well, and demand remains high.
Therefore, on a global scale, the food marketing industry is one of the largest direct and indirect employers. Marketing mix. The four components of food marketing are often called the "four Ps" of the marketing mix because they relate to product, price, promotion, and place.
Marketing Strategies and Positioning among Cruise Lines: Strategies, Positioning, and Marketing Objectives Purpose The purpose of this exercise is to examine the marketing strategies and positioning approaches of the world’s top ten cruise lines. Steps 1.
Connect to . Tourism Marketing Mix Essay. Print Reference this.
Published: 10th June, Last Edited: MARKETING MIX OF TOURISM INDUSTRY car rentals, cruise liners, holiday financiers, technology providers, hotels and resorts, education institutions in the field of hospitality and tourism. Over the years the participation of foreign tourism.
The marketing mix is a tool that is made up of four unique but interconnected and interdependent variables. In this guide, we look at Promotion. c l e v e r i s m. by implementing and controlling the proposed fundamental marketing strategies and marketing mix strategies, Carnival will be able to achieve the stated objectives and maintain its leadership position in the multi-night vacation travel industry.