Mkt/421: Marketing Mix

Marketing Mix

Lisa Garcia

MKT/421

February 04, 2013

Stephanie Jensen

Marketing Mix

The industry I have chosen is the hospitality industry and the brand within the industry is the Marriott hotel. This industry is very competitive and requires attention to detail to an organization apart from the competitor. Within that statement, the marketing strategy an organization uses is vital to the success of the organization. Within the marketing mix are the four categories, which needs to be addressed. They are product, place, price, and promotion. These four components are components, which the marketing department within an organization can control subject to the marketing restraints within the environment. The objective of the marketing department is to base the decisions on the customer within the targeted market  resulting in a positive response.

In this regard, the Marriott hotel is the product to be marketed. The marketing department has an advantage in that the name Marriott is well-known and synonymous with an upscale guest experience. In addition, because the Marriott hotel has several different outlets within the hotel such as meeting space, upscale dining facilities, golf resorts, and luxurious spas, the marketing department can market the hotel to several types of travelers. This can range from the business executive who is traveling on business or the family who is looking for a relaxing get-a-way. The product appeals to a variety of customers within the market, therefore, the marketing strategy and tactics are wide and will vary.

The next component is place. This would refer to the distribution decisions, which are made. Marketing is the key to the success of every outlet within the hotel industry. The channels, which the marketing department uses to bring awareness to the property are vital to a prosperous organization. As previously mentioned, the Marriott is fortunate in that the brand is well-known and respected; however, the marketing department has the challenge of setting the brand apart from the competitor. The Marriott corporation uses a variety of marketing coverage's to promote the properties. Advertising on television is beneficial because this form of marketing can cover a large audience simultaneously. Also the marketing department can choose to be selective in their decision of which outlet is marketed and how it is marketed. This is beneficial because a business traveler may not care to hear what leisure amenities are available.

The third component within the marketing mix is price. The marketing department has several options to choose from within this component which will be effective in all areas of travel. Pricing strategy is one of the most important factors because with this the organization stands to benefit. A few examples of how the marketing department can strategically manipulate a price of a guest stay is packaging prices, discounted pricing, seasonal pricing, and travel agency discounted pricing. Each of the examples provides for the marketing department to tailor a price, which best conforms to the individual need.