Bon Voyage Company: Marketing Mix and Self-Reflection Report

This report provides a comprehensive analysis of the marketing mix for Bon Voyage Company, focusing on a new travel package. It delves into the key elements of the marketing mix, including product, promotion, place, and price, explaining how each component is utilized to attract customers and gain a competitive advantage. The report examines promotional strategies, the importance of place in reaching the target market, and pricing tactics. It also includes a critical self-reflection, discussing the application of marketing mix principles and strategies to achieve business objectives. The report concludes with a summary of findings and insights, highlighting the significance of the marketing mix in the travel industry and its role in driving customer engagement and sales.

Portfolio for Bon Voyage
Company

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing mix- Product..............................................................................................................1
Introduction to promotion...........................................................................................................1
Introduction to place...................................................................................................................2
Introduction to price ...................................................................................................................2
Marketing mix.............................................................................................................................3
Critical self-reflection.................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing mix plays a crucial role in the organisation that leads management to analyse
the ability of a product or service which is offered by company in market. Packaging, process,
people etc. are some crucial aspects for marketing mix which assist an organisation to perform
there work effectively in market. This report is written from perspective of Bon Voyage
company which is performing there work in travel industry. Moreover, this report highlights on
the questionnaire and marketing mix elements that is used to gain more sustainability in market
related with new products and services of company (Barrett and Weinstein, 2015). In the last,
reflective statement related with business will also be covered in this report.
MAIN BODY
Marketing mix- Product
Product is defined as an item that is offered for sale it is tangible or intangible item which
is sold by organisation to customers. This is present in physical and virtual form that is
formulated with investment and it is sold with price. Bon Voyage company introduce new travel
package for attracting middle segment of market. It is also mandatory for organisation to analyse
there product for launching them effectively in market. This determines with exchange and
progression of goods it is easy for company to deport its products effectively in the market.
Along with this with product implement it is easy for organisation for gaining long term results
through providing information about key features and benefits of travel package. Moreover, it
also provides various benefits to companies which includes that it is easy for organisation to
formulate those products which satisfies needs of customers. This results company sale there
products within large quantity.

Introduction to promotion
Promotional activities refers to those action and activities that is used by an organisation
for aware about products and services that are offered to customers. Advertising, tactics, sales
and promotion is most effective process which is used for advertising organisational products.
Communication within market works as a key that directly increases customer base through
offering interaction with management (Becker, 2019). Bon Voyage company utilise this
technique which is increasing customer base by interact with them through social sites.
Promotional strategy leads organisation for completing their task by generating positive relations
with customers by utilising strategy of personal selling. To generate targets that is helping
individual for formulating channel as per direct marketing. With implement of both this
technique Bon Voyage company enhances the sales of there products and services to market
products by creating positive image for organisation. This also refers that it is mandatory for
management as promotional activities increases sale of products due to which revenues and
profits for firm is also increased.
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Introduction to place
The market and place that is used by organisation for offering and sale the products is
known as place. Geographical areas where customers buy the products from seller leads
company to increase sale of its products. This also refers that geographical location is leading
and increasing customer base due to which availability of products is present in different
countries (Fan, Lau and Zhao, 2015). Place is included in marketing mix because it offer region
through which company approach customers. In the context of place management it is used by
Bon Voyage company through selecting those areas which are present in market between mid of
market. Moreover, it also helps companies to provide concept that is increasing market share by
completing all task and generating marketing concept for longer periods. Companies utilise by
place in marketing mix because it offers more income and revenue. Along with this product
offered by management is a new travel package so place is more important factor for
organisation as it works for generating exchange between organisation and customers. For
marketing function place is used for increasing region and areas in which companies sale its
service package to customers.
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Introduction to price
Money, cost and price are most important part for organisation as it is a investment that is
offered by company to its customers. With set of right price it is easy for management to analyse
right prices for all products as it leads company to sale products and services with cost value due
to which products are offered at right price. Price penetration technique is used by Bon Voyage
company for selling the new travel package which leads customers for buying there products in
effective manner. Along with this with price aspect it is essential to achieve zero sales through
implementing value in competitive market (Hanssens and et. al., 2014). Bon Voyage company is
managing their business in service industry so it is mandatory for management to include price in
marketing mix. Fixed as well as variable cost both are included in price factor which leads
management to decide the right price for its products. On the other side, with price tactic and
method such as cost plus, premium and discount works as an effective approach which leads
companies to generate loyal customer base by offering products at right price.
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Marketing mix
Marketing work as an approach that is used for generating processes and including more
number of persons to communicate right products and services. This is also used by company for
constructing better results that directly increases to advertise customers which is used for selling,
promoting, distributing all products in a market (Hashim and Hamzah, 2014). Aspects related
with marketing mix of an organisation are as follow:
 Product- The term product explain goods and services that are offered by business to its
customers. Further, to peddle the scale as per proper and adequate information that
directly increases goods and services. Example- Bon Voyage company introduce new
travel package so it work as positive point for organisation.
 Price- With the analysis of overall cost of company company analysis all aspects for
deciding right prices of its services. This results with right price it is easy to target
specific market.
 Place- way for distributing services and products work as an effective tool that provides
new region or geographical areas for dispense of services in the market.
 Promotion- Marketing mix consists promotion event in organisation for advertising all
existing as well as new services that is used by company to promote all products with
implement of effective strategy to offer right products within right manner.
 People- All companies are dependent on the employees and workforce who are engage in
organisational operations and functions. This determines that with right people it is easy
for Bon Voyage company to increase productivity of its functions.
 Process- With right delivery and formulation of services it is easy for company to
develop a transparent method for new service package (McDonald and Wilson, 2016). So
with all services it is easy for management to analyse right number of consumers.
 Physical evidence- All business whether they deal in products or services includes some
tangible elements to satisfy needs of customers in proper manner. From the perspective of
Bon Voyage company transport and food are most crucial aspect for physical evidence.
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Illustration 1: Source(Illustration 2:
Source(https://www.professionalacademy.com/blogs-and-
advice/marketing-theories---the-marketing-mix---from-4-p-s-to-
7-p-s))
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Critical self-reflection
I will use marketing mix in the business in order to gain higher competitive advantage in
the market as there is a lot of competition and rivals and to overcome from that it is mandatory
that business must implies different strategies and tactics. I will implies marketing mix in the
business in order to develop more sales and profit that further helps to gain a success for the
longer period of time. With the help of these strategies companies could get higher competitive
edge and imparts more growth in the business. I get a lot of help through marketing mix as I get
the estimated plan that helps to achieve the target in an effective manner. In addition to this, It
really helps a lot whereas, I used to target the particular audience and then implements different
strategies and implies the changes as per the requirement and demand of the business. There is a
huge competition in the marker and every business attains different tactics to gain more marker
share. Thus I keep ensures that I will introduce different strategies while targeting a particular
market and then gain the higher advantage while developing stronger customer base.
In the present scenario, there are various task performed by management that leads
individuals to gain long term results. Marketing mix plays an essential role in the organisation
which is used for complete of all task and objectives as per company methods. It is used for
company to manage as well as reflect all aspects that enhances market area. For identifying
standards it is essential for me to adopt learning skills through which task and objectives to
complete all work in effective manner. It is also used for marketing such as understanding
consumer market that is leading company to perform all work as per operations that enhances
management to evaluate all perspective according which to business management. Marketing
mix works as an effective tool which is increasing sustainability to retain in market for longer
period. This also refers that with right skill, capabilities and potential it is easy for me to
complete all task according to relevant marketing techniques and methods. Product, price, place,
promotion and other 7P's of marketing helps me to identify all potential aspects for a market. It is
also identified that with right customers and clients to manage all task and objectives in effective
manner. Products and service which are offered by organisation are different so it is for me to
understand aspects that leads for management to attract more persons by providing guidance for
all employees as it is also beneficial to complete task as per roles that enhances sales of market.
Further, with utilisation of process it is managed to for analysing all perspective that enhances to
design layout as per sales figures of company. With my learning skills it is easy to understand all
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aspects for offering sale services in products through new ideas. This is used to generate better
results for purchasing products through using my research skills.
CONCLUSION
From the summarised report it is also analysed that marketing mix plays a crucial role in
organisation which helps customers for attracting more number of individuals. With the
understand of P's it is easy for a company to understand market. This helps organisation for
demonstrating and implementing right techniques that leads business to attract more number of
customers. Along with this prices as well as promotion are crucial aspects for marketing mix
because it helps to generate long term results. In the last, with self-reflect statement it is easy to
implement skills and capabilities by which better results from market.
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REFERENCES
Books and Journals
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and
business performance. In Proceedings of the 1997 Academy of Marketing Science (AMS)
Annual Conference (pp. 144-150). Springer, Cham.
Becker, J., 2019. Marketing-Konzeption. Verlag Franz Vahlen.
Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence
through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.
Hanssens, D.M and et. al., 2014. Consumer attitude metrics for guiding marketing mix
decisions. Marketing Science, 33(4), pp.534-550.
Hashim, N. and Hamzah, M.I., 2014. 7P’s: A Literature review of islamic marketing and
contemporary marketing mix. Procedia-Social and Behavioral Sciences, 130(2014),
pp.155-159.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
Pogorelova, E and et. al., 2016. Marketing Mix for E-commerce. International journal of
environmental & science education, 11(14), pp.6744-6759.
Pomering, A., 2017. Marketing for sustainability: Extending the conceptualisation of the
marketing mix to drive value for individuals and society at large. Australasian Marketing
Journal (AMJ), 25(2), pp.157-165.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.
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