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The Marketing Mix Essay

2215 words - 9 pages

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 usually consist of car hire,
hotel reservations, train tickets, home insurance, personal loans and
credit cards. I will aim to improve my product portfolio by offering
things like car hire and hotel [IMAGE]reservations on the aircraft for
customers to purchase.

This is a futuristic version of my company’s product life cycle.

Introductory Phase
If I’m going to release a brand new product or service then it will be
a baby in the market and will need to be introduced to your market.
How I price, promote and place this into the market place will need
careful consideration. This is Belle Air has chosen imitate the market
leaders and only differentiate through product quality.

Growth Phase
if my product or service has been enjoying being the only one on the
market, you may have noticed that others are also joining in and
entering a competitive product or service and this will have an affect
of the healthy sales my product might be enjoying at the moment. How
I react to this will have an impact on the survival of my
product. This is inevitable and it’s important to let the customers
know that our product is still the best around, so the company will...

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