Mark Strat Marketing Strategy: Hawaii

Mark Strat

Marketing Strategy: Hawaii Visitor's and Convention Bureau

In order for an organization to survive today's marketplace, it must have an effective marketing strategy to remain competitive. The best approach to the largest segment of the market, means a company must remain focused on the customer. This paper will focus on the techniques that make up market strategy for a company. Use of integrated marketing communication or IMC should be used to achieve this goal. This paper will look at how IMC is used as a marketing strategy. IMC as a concept encompasses the use of tools like advertising, public relations and direct marketing in different types of media (Tri-Media 2005). This paper will look at the Hawaii Visitor's Convention Bureau or HVCB. It will discuss how the organization uses marketing tactics and the four P's of product, price, promotion and place. How do these as a part of a marketing strategy reflect the company's mission and vision? What are some factors that create obstacles for the organization? This paper will explore how strategy is formulated by HVCB; what tactics are used specifically; what could be done differently; how factors change strategy and how by doing this gives HVCB a competitive advantage.

Marketing Tactics and the Four P's of HVCB

Essentially a marketing strategy is built around the core values, vision and objectives of the organization. Study of market strategy one become aware that in order to have product, price, promotion or placement, the organization must have done its research on the market and the consumer need for its service. Without an understanding the targeted audience, the organization cannot market at all. It is important to work the product, its price, distribution and promotion around the needs of the people and of course, from there working to persuade segments of the segment into wanting the product. This is called product diversification. Not everyone can afford an Hawaiian vacation and all the attractions that are available at HVCB. The travel industry is highly competitive, cut throat with many threats to income. Consumers are more wary travel today than five years due to present conflicts in the world. It is important for HVCB to get around these obstacles by enticing the consumer. Really Hawaii can sell itself on the premise of being a beautiful relaxing place but after that it is the job of an organization like HVCB to continue marketing the idea of a vacation. This is where pricing and promotion become important to the marketing strategy.

Pricing strategies usually change as the product passes through its life cycle. There are a number of different methods of determining price depending on the product. In today's game, diversification of products and product add-ons is the key to success. It is with this in mind that companies usually develop product lines instead of just a product. This way, the company has a product that can be priced for every budget. For an organization like HVCB, this may mean running promotions, for instance a two for the price one during the winter season or provide extra nights for the customer who buys a week's package. It may mean running a contest for free snorkeling lessons or a free helicopter tour. Add-ons can be enticing as the customer thinks they getting something for nothing.

Product placement is key especially with a service-based company. These companies need to have not only traditional medias working for them but also newer e-marketing tools such as a web presence and email newsletters. It is important to meet demand for excellent customer service to have the physical product within an immediate need of the client. This means utilizing technology to provide ticket-less travel and communication about the service via email or cell service. A happy customer is a return customer.

Factors and Competitive Advantage

Many problems can arise when running a smaller, regionally-based business that is quickly responding to market demand. This business may not be prepared for the type of tension expansion and "growing pains" can cause. Still the company must still to its overall image of quality made natural cheeses as they continue to establish themselves. Image is everything in marketing. As Gemmy Allen (1999) writes, "many people think that marketing is just selling and advertising" (1) when those are just methods of marketing. Marketing a product means understanding the customer just as well as the product or service. It is important the company be a good fit for that customer. Advertising and selling help impact the market by constantly reassuring the customer of the company's positive image.

A small business may run into problems because they have not corrected identified themselves in the market or have not focused in the correct segment of the population that fits their product. For a company like HVCB, they may lack the funds and resources to put an active campaign out there. Traditional methods such as word of mouth, print advertising, radio and television, direct mail marketing are all good ways to get the word out, however, the best way to promote a small business is to utilize the Internet and position the brand on a search engine. A small business may not have the time to focus on marketing as getting the enterprise off the ground challenges them. Still in order to be successful, it is important for the company to have a clear plan in place. It is also important they think toward the future and diversify their product.

Other Possible Tactics