Marketing Mix Analysis for Acadia Park Equipment Co

Introduction:
The marketing mix is a basic framework that companies use to introduce new
products or services to customers. The marketing mix covers all aspects of
marketing in greater detail, providing a comprehensive approach to launching a
new offering. This is done by addressing the four elements (product, price, place,
promotion). Each element of the marketing mix focuses on meeting customer
needs by understanding the target market and designing specific strategies or plans
for the product, pricing, distribution and promotion accordingly. This ensures the
focus of marketing efforts. On areas that are likely to lead to increased sales and
profitability.
The marketing mix is very important in the work of companies, as it allows
continuous improvement and improvement to stay relevant and the ability to
compete in strong market environments in which there are many competitors. Also,
if the ability to compete is one of the features of the marketing mix, then
companies can also measure the success of their marketing initiatives and make
informed decisions. On data to drive continuous improvement and growth at all
levels, from audience needs to increasing sales. (WILL KENTON, 2010)
Applying the marketing mix is crucial when introducing a new service such as
hiking and camping equipment repair. The marketing mix, referred to as the 4Ps
(product, place, price, promotion), provides a structured approach to ensuring that
a service effectively meets the needs and wants of the target market. For Acadia
Park Equipment, applying the marketing mix to this new service will help
determine the right pricing strategy, distribution channels and promotional tactics
to attract adventure-seeking adults between the ages of 18 and 40, in line with the
company's mission of making enjoying nature affordable. Accessible to outdoor
enthusiasts.

Product:
Acadia Park Equipment Co., Ltd. Can Position the product as a compelling
solution that meets the needs and preferences of the target demographic of
adventure-seeking adults. Providing educational resources and advice on
equipment maintenance, care and repair to enable customers to extend the life of
their equipment and prevent future damage. So the problem we are trying to solve
is The new repair service aims to address the inconvenience and cost associated
with replacing damaged hiking and camping gear. It offers customers a cost-
effective solution to extend the lifespan of their outdoor equipment, aligning with
Acadia Park Equipment Co.'s mission of providing high-quality outdoor products
at affordable prices. (Fastercapital, n.d.)
The new hiking and camping equipment repair service aims to address several key
issues faced by Acadia Park Equipment Co.'s target demographic:
Cost Effectiveness: Outdoor enthusiasts often invest in high-quality hiking and
camping gear, which can be expensive. When this equipment becomes damaged or
worn out, it can be expensive to replace. The repair service provides a cost-
effective alternative to purchasing new equipment, allowing customers to extend
the life of their existing equipment without spending a large sum.
Convenience: Dealing with damaged equipment can disrupt outdoor adventures
and cause inconvenience for customers. By offering repair service, Acadia Park
Equipment Co. provides... Customers have a convenient solution to quickly repair
their equipment and get back to enjoying their outdoor experiences without much
downtime.
Sustainability: In line with the company's vision to support environmental
conservation efforts, offering a repair service promotes sustainability by
encouraging customers to repair and reuse their equipment instead of disposing of
it and purchasing new items. This aligns with the values of environmentally
conscious consumers and contributes to reducing waste in the outdoor gear
industry.
CUSTOMER SATISFACTION: Providing repair service demonstrates Acadia Park
Equipment Co.'s commitment to customer satisfaction. Customer satisfaction and
after-sales support. By providing reliable repair services performed by skilled
technicians, the company can enhance customer loyalty and trust, and foster long-
term relationships with its target demographic of adventure-seeking adults.
(Fastercapital, n.d.)
Market Research:
To effectively measure demand for a product or service and find out how it is in
demand, a systematic approach to market research must be followed.
First, know the purpose of the research. Identifying the target market requires a
comprehensive understanding of demographics, psychological characteristics, and
behaviors, which allows for precise targeting. Knowing the choice between
primary and secondary research methods.
Primary research options such as surveys, interviews, focus groups, and
observational studies provide the researcher with direct insights from the target
audience. The design of research instruments ensures the collection of unbiased
and relevant data consistent with the research objectives. After data is collected,
careful analysis reveals patterns and trends, facilitating informed decision-making.
Interpreting the results reveals market gaps, opportunities, and challenges, and
guides strategic adjustments. Using insights, a company can make informed
decisions regarding future marketing strategies, product development, pricing, and
distribution channels. Continuous monitoring of market dynamics and consumer
preferences allows for the creation of marketing strategies to maintain relevance
and capitalize on demand trends. (Dana Griffin, n.d.)
To determine the demand for repair service, Acadia Park Equipment Co. can
Conduct surveys, analyze customer feedback and monitor industry trends.
Additionally, the company can leverage data from customer service inquiries and
warranty claims to identify common issues with hiking and camping equipment
that require repair.
Product versus service:
A product is a tangible item that can be physically touched, seen, and owned, such
as a smartphone, car, or piece of clothing. On the other hand, service is intangible,
intangible and highly dependent on customer experience and perception.
Companies need to focus on benefits, reliability, and experience. Strategies may
include highlighting the experience of repair technicians, providing warranties, and
offering excellent customer service to build trust and loyalty. Here we have
marketed the service and not the product. Service in business is the benefit to the
customer because it is included in the needs and requirements that the customer
needs for a specific product, but the product is the interest accrued to the company
by purchasing the product and paying its value. (Reilly, 2023)
When marketing and selling a tangible product versus an intangible service, a
company needs to consider many differences, such as displaying and
demonstrating the features, quality, and functionality of the tangible product
through packaging, samples, and how to repair expensive products. Products are
typically distributed through physical channels such as retail stores or wholesalers.
Ultimately, product branding emphasizes attributes such as quality and durability.
But marketing intangible services requires effective communication of value
through descriptions, product case studies, and displays of experience or past
successes. Services are delivered directly to customers or accessed remotely
through various channels such as online platforms or mobile applications. The
service brand highlights expertise, reputation, trustworthiness, reliability, and
customer satisfaction. (Reilly, 2023)
Regarding the sales aspect, the service of repairing hiking and camping gear could
be made available through both online and offline channels.
For online channels, the company could establish a dedicated website where
customers can schedule repairs, view available services, and learn more about the
expertise of the technicians. Additionally, the company could utilize social media
platforms to engage with customers, share testimonials, and promote special offers.
For offline channels, the service could be offered through physical retail stores
specializing in outdoor gear or through partnerships with outdoor adventure
companies. The company could also consider setting up repair kiosks at popular
hiking or camping destinations, providing convenient access to repair services for
customers on-the-go. (Jonathan Furman, 2015)

Place:
For Acadia Park Equipment Co., marketing its new service should focus on
channels that align with its target audience and effectively communicate the
service's value proposition. Because Acadia Park Equipment Co. Likely to serve
customers interested in outdoor recreation and park activities,
Its new service can be marketed through:
1. Online platforms: Using the company’s website, social media channels, and
online marketplaces to reach customers who are actively searching for
outdoor equipment and services.
Content marketing such as blog posts, videos, and guides related to outdoor
activities and equipment rentals.
2. Local events and festivals: Sponsor or participate in local events, festivals or
outdoor exhibitions where the target audience congregates.
Preparing demos to showcase the new service and interact directly with customers.
Collaborate with tourism boards, visitor centers and hotels in the area to promote
the service to tourists and visitors exploring the area's outdoor attractions.
(McCormick, 2023)
The difference between marketing and selling a service:
There is a big difference between marketing and sales. Marketing works to create
brand awareness and create great value, while sales focuses on increasing profits
and dealing with customers in order to grow the company, so the difference is vast,
but more clearly:
Marketing: includes activities aimed at creating awareness, arousing interest, and
communicating the value of the service to potential customers. This includes
branding, advertising, content creation, social media engagement, and lead
generation efforts. (Hart, 2019)
Sales: Focuses on the process of converting leads or potential customers into
paying customers. This includes direct interactions with potential customers,
understanding their needs, handling objections, negotiating terms, and ultimately
closing sales deals.
For Acadia Park Equipment Co., marketing the new service can work to emphasize
the convenience, affordability, and quality of rental equipment through online and
offline channels. Content marketing for the new service helps showcase the
benefits of rental equipment for adventures. Outdoor, while social media
promotions can target outdoor enthusiasts and adventure seekers.
For sales, Acadia Park Equipment Co. To implement strategies such as providing
personalized consultations or demos to customers interested in renting equipment,
providing transparent pricing and flexible rental options, and ensuring excellent
customer service throughout the reservation and rental process. One of the most
important points in the strategy will be training sales representatives to effectively
communicate the value proposition and address customer inquiries or inquiries.
Their concerns in order to convert leads into bookings.
(Hart, 2019)
Distribution recommendations:
Retail Partnerships: Partner with outdoor gear retailers, camping equipment stores,
and outdoor enthusiasts. By offering repair services through these established
outlets, Acadia can reach a broader audience of outdoor enthusiasts who actually
need the equipment.
Online Platforms: Use the company website to promote the repair service and
allow customers to schedule appointments online. Additionally partner with third
party online equipment marketplaces or platforms where customers can easily find
and book repair services.
Outdoor Clubs and Communities: Collaborate with local outdoor clubs, hiking
groups, and camping communities to offer discounts or exclusive promotions for
equipment repair services. These groups often have members who need to maintain
equipment and can serve as valuable referral sources.
Social Media and Influencers: Leverage social media platforms to promote your
repair service through engaging content, tutorials, and testimonials. Partnering with
external influencers or bloggers who have a strong following within the external
community can help increase visibility and credibility.

Price:
In order for any business to continue, there must be a known pricing strategy or
plan in order to maintain the continuity of business profitability. Also, the inflation
rate affects the increase in the prices of goods and services, as this affects
continuity and the company.
Pricing strategy represents a vital part of the marketing process, as it relies on in-
depth market research and takes into account multiple factors such as market
demand, competitor prices, and production costs. It aims to determine the ideal
price that achieves the maximum level of profits while maintaining the
attractiveness of the product to customers.
There are five main pricing strategies:
Dynamic Pricing: This model allows prices to be adjusted based on real-time
market conditions.
Cost-based pricing: This model is based on manufacturing and production costs.
Value-based pricing: depends on customers' appreciation of the added value of the
product.
Competition-based pricing: relies on competitors' prices to determine the optimal
price for customers.
Penetration-based pricing: aims to increase a company's market share by delivering
products at a cheap price to attract customers. (Sofia Carvalho e Pereira, 2023)
As for the new equipment rental service of Acadia Park Equipment Co. I'll mention
two possible pricing structures given that we have gear ready to experience the
outdoors:
Hourly rental rates:
Positives:
Provides flexibility for customers who may only need the equipment for a short
period, such as a few hours.
It allows the company to generate revenue for the use of the equipment.
It's easy for customers to understand and budget, especially for spontaneous or
short-term outings.
cons:
While they may not be cost-effective for customers who need equipment for longer
periods, hourly rates can add up quickly.
It can lead to uncertainty in forecasting a company's revenues, as lease periods may
vary.
Customers may feel rushed to return equipment within the specified time frame,
which may impact their experience.

Daily or weekly rental packages:

Positives:
Provides cost savings for customers who need equipment for extended periods,
such as an entire day or an entire week.
Provides pricing predictability, allowing customers to plan and budget their
outdoor adventures more effectively.
It simplifies the leasing process for both customers and the company, as it reduces
the need for recurring transactions.
cons:
Customers who need equipment for only a few hours may find daily or weekly
packages less attractive due to the higher initial cost.
It requires the company to manage inventory and availability for longer rental
periods, which can lead to logistical challenges.
This may result in a loss of revenue if customers return equipment before the end
of the rental period, as the full price has already been paid.

Promotion:

To attract new customers to the new service, the method must be distinctive
(marketing or advertising method), so I will use a distinctive campaign that is a
mixture between the traditional and modern methods.
Integrated marketing campaign:
Advertising: Initially I will use traditional advertising channels such as print ads in
newspapers or magazines, billboards on main roads, newspapers and radio ads to
reach a wide audience.
Public Relations: Organizing a specific event or sponsoring a community activity
(such as holding a music exhibition or photo exhibition) to generate positive
publicity and enhance the brand’s reputation. Press releases can be distributed
through traditional media.
Social media: Here what is important for the whole campaign is to create attractive
content on popular social media platforms such as Facebook, Instagram, and
Twitter to interact with potential customers, share updates about the service, and
run targeted advertising campaigns.
Traditional media: Leverage TV ads or collaborate with influencers to reach a
wider audience and build credibility.
Acadia Park Equipment Co.'s marketing message can reach potential customers
through multiple channels, both online and offline, ensuring maximum exposure
and engagement. For example, running a print ad in local newspapers announcing
the launch of a new service with the phrase Your adventure, your world, while
sharing teasers and behind-the-scenes footage on social media platforms for
outdoor shots at the same time to generate buzz and excitement. In addition,
hosting an event such as a fine arts exhibition that is covered by traditional media
and promoted through social media channels can increase brand visibility and
attract new customers. (Hausman, 2023)

Ahmad taha Amer

References
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