Elements Of Extended Marketing Mix Managed By Tasmanian Walking Company

Marketing Mix constitutes of the 7p’s elements which are necessary in any kind of marketing. 7 elements are Price, Place, People, Product, Physical Evidence, Promotion, Equipment’s. Tasmanian Walking Company used all the elements in a good way to manage their business. Talking about equipment’s such as proper hiking boots, thermal clothing, gaiters, appropriate walking gears, they are all necessary in walking. Promotion is next tool which is very well executed by TWC. journalists published stories about TWC offerings which are published in both print magazines and online travel blogs.

This is the best means of promoting your own company to attract the customers. They also encourage people to share their own ideas and experiences via social media like Facebook, Instagram, Snapchat, Twitter. This is the best advertising strategy which helps to engage new and future customers. They also keep in mind the negative word of mouth besides the positives one. Targeting different segments of customers based on Age, Demographics, Gender, Student groups, is also a great idea. They have a beautiful location to focus on which attracts a lot of consumers and a wide variety of targeted markets.

Price is one element that might be better managed in order to deliver customer value. In their market segmentation their main target is people with high disposable income and overseas students, customers. Some of the people with middle income might want to have the experience of TWC but due to their low incomes and high price of the trip they cannot afford the cost of travelling. It is clearly written that that the fee to charge per person is $3000 which is way above than the normal income. People might get second thoughts of travelling or going to the walk and ultimately, they dropped the idea of going for the walk. Considering each walk is priced as a package, inclusive of transport, accommodation and the meal charges but then also it is charges too high because the middle men cannot afford the costing of the trip. They are earning heaps from single person, building their profile in International as well as the overseas market. They are maintaining their profits by linking high profile peopleSolutions to this problem might be dealing with the cheaper packages but with best quality style. Keeping in mind the luxury of the middle-class society as well as the domestic or international students Tasmanian Walking Company needs to work on the price of the travelling trips so that a lot more people can know about it and would love to experience this opportunity. If the price will be down, then the customers will frequently visit the company sites.

Also, they can do more of Mass marketing. Another related option is that they can advertise a bit more personalised. They need to survey their market and manage the expectations from their consumers.

CONCLUSION

To conclude with, Tasmanian Walking Company efficiently and effectively uses all the elements of product mix but currently they are pricing too high from their existing as well as potential customers which is the need of worry for TWC. They need to adopt several price management strategies so that they have a great success in attracting the customers and creating value for them.