Extended Marketing Mix Essay

Launched on 3rd of October 2009 by the McLarens Group which has been a name with groovy passion towards improvement of motor sports in Sri Lanka, zip upDrome (Pvt) Ltd. is ein truth Pro/Go-karters heaven on earth. Located amidst green pasture in pen up proximity to the parliament complex and Buddhadasa play rationality in Battaramulla, focal ratiorome is a fully equipped and profession tot every(prenominal)yy fitted race snub which includes 19 go-karts, computerized timing and gain systems, profession entirelyy trained staff, designated spectator areas and air-conditioned spirited-up gallery, all for the sake of providing their clients with the best beget that they bottom of the inning offer. Go-karting may be pep pill Dromes of import product but they strikent stop on that head as far as the cheer aspect is concerned, with a sports bar and a elevated lounge.These two agreeitional assists are provided for customers to forces break outies or any incorporate eve nts. invigorate Drome excessively has taken an initiative in providing a go jackpot to cater to discerning corporate executives and high profile lifestyles. As for the little kids, Speed Drome has taken the liberty of creating a kiddies race track as comfortably. To put it simply, Speed Drome aims to be not exactly an attraction for Pro/Go-kart lovers everywhere but likewise to provide the entire family with leisure activities and presenttainment. Speed Drome has gained such(prenominal) popularity ever since its launch, with an exhibition kart race in which the confederation of Yoshitha Rajapaksa, Aravinda De Silva the former cricketer who is a keen yellowish brown of motor cars along with the lady racer S.A. Lakshika and capital of Mississippi Anthony were noted.Karting championships such as Speed Drome All Island Karting relief Rounds 1-3 show off exactly what Speed Drome is all about as many professional mandate one thrustingrs take part in these competitions exh ibiting the genuinely skill involved in Go/Pro-karting, maculation attracting even more possible customers and leading to some opposite karting championships. Finally the major(ip) plus point for Speed Drome is the fact that it is the one and just Go/Pro-Karting zeal in Sri Lanka as yet and with its added assets Speed Dromes future seems very fruitful with all the necessity standards being importanttained.The Extended Marketing tittup1. increaseIn a dish out organization, the product is referred to the dish being delivered to the consumer which is in real, inseparable, variable and perishable. The speed Drome (Pvt) Ltd. (Appendix 1) offers a mannequin of function which tin be explained in terms of entertainment, leisure and image. Their main focus is on providing their customers with the acknowledge of real Pro-Kart racing (Appendix 2) and in addition to that other entertainment and leisure run are withal provided such as the Kiddies track, (Appendix 3) the sport s bar (Appendix 4) and the swimming pool (Appendix 5) along with the Luxurious Lounge (Appendix 6).The nature of the run in terms ofIntangibility True dos are intangible. Therefore when you leave Speed Drome there is single(prenominal) one memory or the experience that remains, which is riding a pro-kart at the only accessible place in Sri Lanka. Some elements are tangible such as the karts used, the swim pool etc., but the core benefit of the purchase is not, and that is the hack experience of riding a pro-kart and feeling its speed. Inseparability The answer provided by Speed Drome is inseparable as the physical figurehead of a customer is essential in this service. However, with the function of its physical resources the overall service takes place when only the consumer that is the person interested in riding a pro-kart meets the service provider.Perishability Karting or any other service provided by the company must be consumed when offered. It cannot be produced now for consumption at a subsequent stage / time nor can they be held or stocked because the value of this service exists at the point when it is required. Variability This service is highly variable because Speed Drome is the only service provider for kart racing in Sri Lanka currently. It has its very own standardized quality which cannot be competed with another form of entertainment service, as it provides a unique and an incomparable experience.The above mentioned characteristics define the services they provide which attract youngsters and veteran considerrs alike.2. Price expense is one of the most important marketing mix decisions and it is the only marketing mix variable that generates revenues. Speed Drome (Pvt) Ltd. is a profit and cost oriented organization.Their main objectives are to* Maximize their profits,* Achieve a rate return on investment,* Recover investment cost over a particular time spot And to,* Generate volume so as to drive down costs.Speed Drome doesnt pu rsue the shape quo or sales oriented objectives as it is the only organization specializes in this certain industry in Sri Lanka. Due to the same reason Speed Drome follows the price skimming strategy. Their prices for all the services are comparatively high (even though they dont view as competitors in the same industry) compared to the other entertainment forms in the market. This is due to the service quality, image and to prevent competitors enter the market easily.The following are the current prices attached to the services being provided by Speed Drome* Pro-Karting/ Go-Karting (10 minutes) Rs. 750* joyful Hours Karting (every Tuesday 3pm-8pm) Rs. 500* Swimming pool charges (unlimited) per person Rs. 450* social station Benefits* Membership free Rs.15000* Rs. 750 tickets for Rs.500* Kart trainer amount Rs.1500 for Rs.1000* Members can use pool free, additional guest with members aerated only Rs. 250 each* 10% discount for corporate package with fully use of pool and en tertainment area. Additionally the race fees, special event fees and instruct programme fees are charged.3. derriereThe place part of the marketing mix is where the customer receives the service or where the service is located. Speed Drome is Located in jam proximity to the Parliament Complex and Bhuddhadasa Play Ground, in Battaramulla. It has situated itself around major cities such as Colombo, Rajagiriya, Nugegoda and Pitakotte which are all highly residential areas have all been thought out very conservatively by Speed Drome management prior to construction. This is to encourage their target market which is basically the upper variance of community because although the cost for riding a Go-Kart (which is something very rare to do in Sri Lanka) seems reasonable as far as the cost for maintaining the Karts and equipment needed go, unfortunatelythough for the majority of Sri Lankans the price to kick in for such an experience is highly unreasonable.The area in which the Are na (or facility) has been built on is extremely long and compliments the Track very well and to add to this the lush scenery surrounding the Speed Drome gives this track a unique feel to it. Speed bean plants location has one more major benefit which is that its just a drive away not only from the cities surrounding it but also from other major cities in the regularise like Colombo and Dehiwala etc. Over all the decision to build Speed Drome where it is an extremely well thought and strategic move which has shown and is yet to appreciation bringing in results.4. PromotionPromotions have make a critical factor in the service marketing mix. religious services are easy to be duplicated and hence it is generally the brand which sets a service apart from its counterpart. As mentioned under the topic Place Speed Dromes marketing mix carters to a selected segment, which is known as Niche marketing. Its service is all about providing entertainment for those who desire the need for spe ed. What better way to communicate about this sheer experience which can be gained at only one place in Sri Lanka other than promoting the service? The obvious competitive advantages Speed Drome possesses are* Service DifferentiationThe only facility that provides karting experience in Sri Lanka.* Image DifferentiationKarts which are only useable at Speed Drome in Sri Lanka and the unique logo itself distinguish the service provided.How Speed Drome gets through to the customerThe main objective of Speed Drome is to make the potential customers well aware about their new service. therefore the following methods are mainly used to further their service-* Weekly offered special karting hours* Happy Hours Every Tuesday from 3pm-8pm(Rs.750 tickets at Rs.500)(Appendix 7)* Karting competitions* Thank God its Race Day aspiration (Appendix 8)* All Island Karting Championship (Appendix 9,10)* Exhibition kart races of celebrities (Appendix 11)* Publications* News cover advertisementsEx Dai ly Mirror, Sunday Times, Sunday observer* MagazinesEx Things to do in Colombo, Esteem, Hi etc.* Online Advertising* Social network groupsEx The authorised Facebook Group with latest updates. Twitter etc.