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Maritime Marketing - Essay Example

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Maritime Marketing

Drivers in favour of monetary impact are generated by SWOT analysis in order to prepare the strategies for port industry. Therefore, the use of SWOT analysis upon strategic planning process will be highlighted for maritime industry. Marketing Mix The elements of marketing mix can be grouped into four primary variables i.e. ‘Price’, ‘Product’, ‘Promotion’ and ‘Place’. The number of P’s can be extended i.e. ‘People’, ‘Process’ and ‘Physical Evidence’ to describe the service sector as well. Each element of marketing mix is inter-related with another. Promotion depends on the nature of products or services. Through the process, it reaches the customer and it influences the pricing of the product. Marketing mix helps to attain organisational objectives. Marketing mix has to be prepared in such as way that it fulfils the customer satisfaction. Place is a key factor affecting port industry. From the site of the port authority offering locations to transport companies and industries, the supply characteristics require to be hand in hand with the demand needs i.e. to be competitive with other ports. The product once manufactured, packed, priced and promoted is ready for customers. It consists of distribution channel. Number of channels directly influences the price of the product. Source: (NOS, n.d.). ...
‘People’ is the other key factor of marketing mix of port industry. The appropriate use of people can have an affect on the achievement of the company. Employees of the particular company represent the company in the market domestically as well as internationally. The liaison between price and demand should be scrutinized. Pricing is influenced by the process. Price fixation can be described in two approaches i.e. cost-based approach and competition-based approach. The total cost of the product is considered after adding certain percentages of profit. Companies that have direct selling facilities have the privilege to fix lower cost than existing market price. Source: (NOS, n.d.). Evaluation of Marketing Strategy To set strategy for port industry internal and external environment should be taken into concern. Competitive advantage can be determined after analysing the strengths and weaknesses. To plan strategies for port, vision should be clear. In order to have effective strategies, the vision should be oriented towards employees. There should be enthusiastic environment for working, building employees’ self-confidence. The strategy should be market oriented similar to other industries. The strategy should be ecologically sustainable and internationally competitive. Drivers for economic impact are generated by SWOT analysis to prepare the strategies for port industry. Business traffic forecast is considered to be a long-term strategic analysis (Policy Research Corporation, 2009; Australian Government, 1997) For public or private port authorities pricing is most significant element of marketing mix. Competitor analysis is another key factor of strategic planning for port ...Show more

Summary

Maritime Marketing
Marketing Mix
Evaluation of Marketing Strategy
Niche Marketing
Report
The study is based on the analysis of marketing strategies related to maritime industry…
Author : zeffertz
Maritime Marketing essay example
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