Intro to Marketing
I. Marketing strategy of the Hawaii Visitors and Conventions Center (HVCB) Marketing is an essential investment on the part of the manufacturer or service provider. The marketplace has achieved saturation level with so many goods and service so that businesses of every kind must do everything possible to spread a highly persuasive message to the public. They must strive to keep the consumer informed on what they offer and separate themselves from the competition. All the ideas underlie the marketing strategy that consists of four components, known as 4P’s: Product, Place, Promotion, and Price.
In HVCB, I find that David K. Preece, vice president of North America for the HVCB, understand the needs to promote Hawaii through bringing experience to their visitors, called a sensory-oriented brand. Here, we know that there is an exchange pattern: take and give something of value for another thing (Allen 1). One most successful HVCB’s tactical marketing program is Experience Aloha! It is such a mall exhibition, which is very attractive since it presents video and digital entertainment as a single package that links bureau, hospitality industry, and target market.
Current Marketing Mix of HVCB II. 1. 1 Product The key point in the product acceptability is the product development, which is the result of various data obtained through a market research. The data obtained from the research composes of market trends, demands, competitors’ product and other valuable data. Therefore, market research can tell us who is interested in or in need of our product or service, what their income level is, where they live, their age, their occupation and so on.
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Manufacturer, service provider translate this into providing customer service offices in key areas in a city in which customers are easily locate them. Attend the dinners and socials, show up for the sales meetings, participate in community affairs, return phone calls and emails, send noteworthy clippings, volunteer for charitable efforts. Keep our companies exposed during the slump period. It is important when the economy picks up our customers and suppliers will think of us first. Concerning the “Place”, I also found that HVCB has appropriately composed strategy to promote their products.
In the module I found that HVCB once conducted a nine-month tour of upscale, suburban malls nationwide, launched in Chicago, and setting up in a new location on weekly basis. II. 1. 3 Promotion Promotion is an advertising and publicity in one or more of the mass media, as well as forms of direct marketing. Effective promotion uses mass media, direct approach marketing, and other variations to communicate a sales message. Promotion is the single best way of introducing a new product to the public at large. The ultimate goal of any promotional campaign is to reach and add to a target audience.
Regarding the target market, the New Beetle clearly targets the young. From the case, I found that HVCB also conducted an effective promotion and consider it as the most dominate strategy, which composes of giving travel trade magazine, brochures, advertising, live performance in Houston project 1997, and also in Aloha Cities exhibition agenda 1998 which is sum up in The Experience Aloha tour. II. 1. 4 Price The retail price of any item or service is determined by the following: unit production or overhead expenses, the cost of manufacturing the item, packaging, and transportation.
For any business to survive there must be a margin set for profit. The manufacturer makes a profit when they sell the goods to the retailer, who in turn marks up the item to make a profit from the consumer. In each step, all expenses must be covered. The price paid by the consumer is what it costs to produce, package and transport the item, plus all markups along the way. Pricing can be a powerful tool in a competitive market. A business can emphasize a bargain by slightly undercutting competition, or they can stress quality by a slight increase.
Unfortunately, the case of HVCB does not clearly discuss about pricing strategy that the company provide to their customers. This situation is unfavorable since people have associated vacation to Hawaii as an expensive trip. Thus, if HVCB does not provide the price list to the customers, I think customers will consider the HVCB is insincere and unprofessional.
2 Suggestion on Future HVCB HVCB/Hawaii Visitor and Convention Bureau is a marketing company, which is under contract by Hawaii Tourism Authority/HTA. HVCB’s main task is promoting Hawaii as a tourism spot in the whole world, especially in the continental U.S. That is one of many promotions conducted by HVCB to increase demands. Thus, HVCB should know what role has to be done to create mutually satisfying exchange that is the main central study to the marketing concept. I also suggest that to stand out of the crowd in marketing business, HVCB provides greater customer value than its competitors. HVCB should aware of the role of product mix as a medium to develop an organization strategy and decided which lines of products should be developed, retained or be stopped.
Therefore, the main task of HVCB is providing excellent service where competition between these firms is substituted for one to another. Under such circumstances, HVCB must give value added services that are completely different from competitors since service depends on perception and characteristic of heterogeneity that makes it more difficult to measure and evaluate. III. Environmental variables of HVCB Business in tourism marketing has relation to economic environment, economic condition in U. S.
(object case) is one of many variables that really affect in consumer purchasing power and spending pattern (like business cycles, inflation, unemployment, interest rates, and income) and have a significant impact on the market place (Allen). Technological environment also can create new product and opportunity. Because of technological support, HVCB could create an attractive event project (video presentation of Hawaii from a helicopter with 360 degree perspective) where audience really enjoyed and excited the presentation/exhibition. This one can create good experience and interest to try the product.
Political and legal environment also bring some effect, like deregulation from local government, laws. IV. What competitive advantages did HVCB possess? The concept of HVCB marketing strategy is satisfying the customer at an acceptable profit. Moreover, three features of the marketing concept are: customer orientation, concerted efforts by all departments within the organization to provide customer satisfaction, and emphasis on long-term profit (Allen 4). Concerning the issue, I found tat HVCB’s main competitive advantage is their intention to satisfy customer needs and wants to be more customer-centric.
Allen, Gemmy, The Environment of Marketing: Marketing (c), 1999 (chapter 1) 2, 6) Allen, Gemmy, The Environment of Marketing: Marketing (c), 1999 (chapter 2) Allen, Gemmy, The Environment of Marketing: Marketing (c), 1999 (chapter 6) Drucker, Peter F. , People and Performance, Harper College Press, 1977, (p. 90) Lauterborn, Bob. (1990) “New marketing litany: four Ps passe: C-words take over. ” Advertising age. 61 (41), 26. “The Marketing Mix. ” Retrieved November 26, 2005 from http://www. fastlinksolutions. co. uk/marketia. htm