QUESTION

you have been asked by the marketing Director of Ironman to write a report in which you critcall analyse Ironman’s use of marketing mix and analyse its appliction in comparison with TansRockies.lllustrate in your answer the evolving role of marketing in these compainies.

SOLUTION

1.     INTRODUCTION

The present essay aims to critically analyse the use of marketing mix in Ironman, to analyse its application in comparison with TrnasRockies and to find out the evolving role of marketing in these two organisations.

The concept of marketing mix was introduced by Neil Borden in 1953 during his presidential address to AMA. The origin of idea came from James Culliton, who said marketing executive is the one who combines various ingredients. Hence marketing mix is referred to those useful elements which are useful in achieving the marketing goals.

Frey (1956) and Borden (1964) developed a checklist for understanding complex and interrelated marketing activities. Early writers such as Frey (1956), Borden (1964) and Staudt and Taylor (1965) considered marketing mix elements nature as procedures, processes and policies ,whereas, today most of the authors such as Kotler (1988,p.71) considers them as tools, instruments and parameters.

Although, the 4Ps has remained a very useful device for practitioner, researchers, teachers and students. But there are some flaws in the concepts reported by the researchers. Such as the P of product may caused the ignorance of cost, sales and competition interdependencies among products. (Wind and Robertson, 1983). The properties basis for the classification is not properly identified. The categories are interdependent.

2. THE THEORETICAL FRAMEWORK

2.1 The Marketing Mix Meaning and Elements

The marketing mix is about having optimum component of often referred 4Ps:- Price, Product, Place and Promotion.

• Product – the product or service that the customers get.
• Price – the amount customer has to pay for the product.
• Place – where and how the product is distributed.
• Promotion – how the customer is pulled to buy the product.

In marketing mix each ingredient affects each other and only proper mix can give maximum results from the business.

For example:

–        Price can be higher for high quality products.

–        New product introduction requires the promotion.

2.2 An Effective Marketing Mix

In any business there is always a need of effective marketing mix. It can be effective if can the firm’s marketing objectives, it can meet the customer needs and it can create a competitive advantages for the firm. Every business and industry has a different marketing mix that is it varies across business, industry and time. In most of the businesses one or two elements would be more important than the other elements. These important elements would vary across businesses, industry and time.

When forming a marketing plan for the firm, the marketing manager has to consider the behavioural forces and the available resources with that she needs to work. Her firm works in a very complex environment where infinite number of forces are working and competing with each other. In the large universe a firm is a very small element. Hence to survive in the complex universe a firm’s marketing manager gets a huge responsibility of making a optimum marketing mix as per the firm’s need and available resources.

There is always a difference in the marketing mix of a small firm and a big firm. They can sell the same product or service but their marketing mix would be different. The small firms need to look for special opportunities in product or service or method of operations.

For instance, big firms go for national level sales practices or distribution while the small firms usually prefer to go with regional distribution plans. Similarly big firms generally go for a full line of product or service, whereas small firms elect to build sales on a limited and highly specialized product or service line.

2.3 Long vs. Short Term Aspects of Marketing Mix

The marketing mix is subject to change with the experience of day to day marketing. That is why it is called as product of evolution and time. Firm has to response the actions of competitors and eventually leading a change in the marketing mix. Also, if the firm sees an inadequate market coverage or inefficiency to meet the customer needs it has to remix its marketing mix. The customers and consumers behavior also leads to change in the marketing mix. Thus competitors, customers, consumers and many other short term forces cause a huge change in the marketing mix.

But the main force the marketing mix is firm’s long term goals and management’s view point. If the management has foresight, it gives promises to the organization to keep it moving with time and need. Marketing managers need to study long term trend of natural, economic, social and technological changes. For having an optimum marketing mix there is always a need of long term planning.

2.4 Use of the Marketing Mix Concept

The concept of marketing mix may look simple and obvious but when this concept was not formally presented, marketing planning used to be much more difficult task. The concept of marketing mix has been a helping tool for marketers, teachers and researchers. It gives answer to the first question often raised “what is marketing?”The chart of marketing mix answers what is marketing?

This concept helps the firm by increasing brand equity and the brand equity increases the cash flow to the business (Simon and Sullivan 1993). Brand equity leads to non-price competitive advantage for the firm (Aaker 1991).There is a little attention of the researchers to find out the marketing activities which increases the brand equity (Barwise1993). The efforts have been to explore the brand equity, rather finding its sources and development.

Shocker, Srivastava, and Ruekert (1994) stated that there is a need of a systematic view that how the mix of product ,place, price and promotion leads to increase in brand equity. The brand equity affects the buyer’s decision making. There is a need of finding evidences of relationship between marketing mix elements and the brand equity. The findings of these studies should provide the way of controlling brand equity by marketing mix elements. Aaker(1991) states that(a) brand equity gives value for customers and the firm b)any value for customers leads to increase in value for the firm 3)brand equity has got multiple dimensions.

3.   MARKETING MIX OF IRONMAN AND TRANSROCKIES

3.1 About Ironman

An Ironman Triathlon is a series of long-distance races organized by World Triathlon Corporation (WTC) consisting of a 2.4-mile swim, a 112-mile bike and a marathon 26.2-mile run, raced in that order and without a break. Ironman’s events needs to be completed the race in maximum of 17 hours. Ironman events are held in Hawaii every year since 1978. The idea of Ironman Triathlon generated in the awards ceremony for the 1977 Oahu Perimeter Relay.

Ironman Triathlon is popular due to its ruthless race conditions, exhausting length and television coverage. Today also Ironman is regarded as a prestigious triathlon event to have the sense of win. Most of the athletes take the completion of race as a big challenge and completing the race makes a remark in their career. Only very courageous athletes compete for the victory. Now physically disabled athletes compete in the physically challenged category. First physically challenged athlete was John MacLean from Australian. The most recent Ironman event was held on October 8, 2011. People who complete this race are called “Ironmen”.

3.2 Transrockies

The TransRockies is an annual 7-day, 600 km mountain bicycle race. It is known as the “toughest mountain bike race on earth”. The TransRockies is very popular for its dangerous climbs, lengthy days, persistent mud and changeable weather. In 2010 Transrockies received UCI sanctioning, it is expected it will increase the number of riders and the competition levels in all categories.

3. Critical Analysis and Role of marketing mix

Ironman and Transrockies are the two popular brands. These companies are organises outdoor endurance events. Ironman says ‘Anything is possible’. Ironman advertises itself as Swim, Bike, Run; anything is possible within 17 hours.

TransRockies says “Find out what’s inside….outside” or how TR describes themselves.  “Seven days, 500 riders, 55 kilometres, 17,416 vertical, one word: unforgettable.” The marketing focus of TransRockies is to attract high fee paying participants and eventually to maintain the reputation as the world’ most challenging and adventurous bike race. The priority of the event is to provide participants with an unforgettable experience.

Thus these two outdoor endurance event organizers using different elements of marketing mix to make a unique standing in the market.

3.3.1 Product: Bike race of TransRockies is an adventurous and arduous experience. The athletes or participants have to make a very high personal, emotional and financial commitment in the event. Tough after doing all the hard work the participants get a high sense of achievement and prestige. Transrockies was offering only 4 categories of race till 2004, now it has many categories of race. Increase in race categories is attracting to a big variety of people and motivating people who have different levels of competence.

In the event they host the participants with high quality food, bike servicing, showers, medical facilities and high safety. They ensure the participants to focus on the ride by providing all details to them.

3.3.2 Place:

TransRockies made the right choice of the places it has to use in events. Because of right places it could complete a height of distance since its inception in 2000. In the events of races places play an important role; hence selection of place becomes a critical marketing mix for TransRockies

3.3.3 People

People are the most important in TransRockies. They need to understand what the people want?  Whom should they target? For understanding the needs of people and targeting the right people TransRockies conducts online surveys and questionnaires. They try to be aware of special stories of the people, their sufferings and their spending pattern etc.

In the past winners of Transrockies include national champions, Olympians and World Cup Racers. This race has no age limit.

3.3.3  Promotion

Promotion is an important element of marketing mix. Nowadays website plans a major role in promotion strategy of a company.  In event organisation companies websites are the main tool of promotion. It is very easy to register on website. Hence websites become very important for these companies. These companies are using flashes of motivational quotes and enthusiasm that encourages people to participate in the sporting events.

TransRockies cite that they have courage “This is the spirit of the growing international TransRockies brand – Rugged, Adventurous, Real”.

Ironman makes DVDs of inspiring and amusing moments that happened during the event. These DVDs encourages people to participate in Ironman events. Thus DVDs are used as promotional tool. Ironman also uses television coverage of the event as promotional tool.

Ironman present its symbol as a representation of a fit body.

The symbol is taken from the Ironman logo, which is the word IRONMAN (in all caps) with a dot on top of the letter M, which is meant to look like a person.

TransRockies uses a large array of cycling publications. It publicizes that it gets endorsement from prestigious figures of the cycling community. This is a word-of-mouth advertising within the cycling community. It is very important promotional tool for TransRockies. TransRockies annually conduct online surveys to get post event feedback from the participants.

3.3.4 People

The people element of marketing mix is very important for Ironman’s marketing. Ironman’s people are very courageous and unique in their own way. Every person from Ironman has an courageous and impressive story. Athletes from Ironman are the people who live under the motto “anything is possible” In Ironman, the “very spiritual collides with the physical”

Ironman is a very hard event, where people think that if they can conquer ironman there’s a good chance they can conquer a lot of other things in life. Ironman is a popular and strong brand due to people who are competing in the race, if these people are not there , Ironman is nothing without them. People helps in marketing of Ironman and marketing of Ironman helps in bringing these people. Thus marketing and people depends on each other. In both the companies people are provided with every detail.

The companies try to fulfil the desires of people, they help them to achieve what they want , they help them win ,they help them to have the sense of achievement, sense of accomplishment and  the sense of victory. Athletes from these events are the people who do not want money, but they want to fulfil their desire of winning and achievement. They want to win in the competition.

In Ironman’s events people have a emotional pressure , they have sufferings and pain, for them first challenge is to fulfill the emptiness of life. They feel somewhere defeated, hence though these competitions they want to achieve the feeling of win. At first hand they compete with themselves then with others. In Ironman’s events fear is at extreme so on one side it looks like hell , on the other hand rewards are very high making it a heaven.  Thus Ironman’s people begin in hell and reaches in heaven feeling after accomplishment.

These competitions keep the people united. People in the competitive events of these companies share the same desires, same fear and then same feeling of victory. For these people there is nothing which is impossible. They understand each other feeling of emptiness and pain. But still they manage to be professional and serious in their competition. These are very ambitious people. Different from Ironman’s people, competitors of TransRockies are very strong people. The TransRockies challenge is very grueling practice .TransRockies not only providing a high quality food and shower to the

In the beginning people join the competitive events for the purpose of body fitness but at certain point they feel that it’s competing with other that how extreme their body can go, it’s about the brand. Moreover at certain point their body becomes addictive of exercising and sports

3.3.5 Place

Place is also a very important element of the marketing mix. The landscape or place gives pleasing experience for the competitors’ eyes and through eyes it pleases to their heart and mind. The people enjoy gazing around them and observing the natural scenes they never experience before. The landscape beauty encourages the participants. They breathe the fresh air and they enjoy the ride with all their heart and mind. The Transrockies race included route from  Fernie, British Columbia to Canmore, Alberta during 2002-2005. In 2006 the route was changed to make it more larger. Agian it changed the routes in 2007 and in 2010. Now it has more single tracks and less roads.

Conclusion :

In this essay we did critical analysis of Ironman’s marketing mix and compared its applications with Transrockies. Both of companies are selling the similar product but with a different flavour by having different marketing mix. Ironman is popular for its tough races and most of the people want to remark their career by completing the race. In Transrockies there is wide variety of products. It is continuously changing the products as per the people’s need. There is difference between the people attending these two events. Their aim and background is different. It shows that both the events are targeting different kind of people. They have different choice of the place. Transrockies changing the place every now and then to have a better customer satisfaction. Transrockies doing a lot of promotion compare to Ironman’s promotional strategy. Thus we can conclude that marketing mix has to be different company to company. It depends on the company’s goals and the available resources. The proper marketing mix increases the brand equity and the brand equity increases the business cash flow. After analysing the marketing mix of Transrockies we can sat there is a need of remix in the marketing mix of Ironman. It needs to have marketing mix as per the need of time and people. Although, the 4Ps has remained a very useful device for practitioner, researchers, teachers and students. But there are some flaws in the concepts reported by the researchers. Such as the P of product may caused the ignorance of cost, sales and competition interdependencies among products. (Wind and Robertson, 1983). The properties basis for the classification is not properly identified. The categories are interdependent. In the large universe a firm is a very small element. Hence to survive in the complex universe a firm’s marketing manager gets a huge responsibility of making a optimum marketing mix as per the firm’s need and available resources. In any business there is always a need of effective marketing mix. It can be effective if can the firm’s marketing objectives, it can meet the customer needs and it can create a competitive advantages for the firm. Every business and industry has a different marketing mix that is it varies across business, industry and time. In most of the businesses one or two elements would be more important than the other elements. These important elements would vary across businesses, industry and time.

 REFERNCES

• Aaker, David A. 1991. Managing Brand Equity. New York: Free Press.
• Barwise, Patrick. 1993. “Brand Equity: Snark or Boojum?” International Journal of Research in Marketing 10 (March): 93-104.

• Borden,Neil H. (1964), “ The Concept of the Marketing Mix,” Journal of Advertising Research, 4 (June),2-7.
• Frey,Alber W (1956), The Effective Marketing Mix:Programming for Optimum Results.

• Getz, D; McConnel, A. (2011) Serious Sport Tourism and Event Travel Careers. Human Kinetics.

• Hanover,NH : The Amos Tuck School of Buisness Administration,Dartmouth College
• Kotler,Philip(1988),Marketing Management:Analysis,Planning,Implentation and Control,6^th ed. Englewood Cliffs, NJ: Prentice –Hall,Inc
• Shocker, Allan D., Rajendra K. Srivastava, and RobertW. Ruekert. 1994. “Challenges and Opportunities Facing Brand Management: An Introduction to the Special Issue.” Journal of Marketing Research 31 (May): 149-158.

• Simon, Carol J. and MaryW. Sullivan. 1993. “The Measurement and Determinants of Brand Equity: A Financial Approach.” Marketing Science 12 (Winter): 28-52.

• Staudt,Thomas A. and Donals A. Taylor (1965), A Managerial Introudtcion to Marketing. Englewood Cliffs, NJ: Prentice-Hall ,Inc.
• Wind,Yoram and Thomas S. Robertosn (1983), “Marketing Strategy: New Directions for Theory and Research,” Journal of Marketing ,47 (Spring),12-25.
•            http://transrockies.com/trc/partners
•            http://transrockies.com/trc/features/tr-event-management-blog

•            http://en.wikipedia.org/wiki/Ironman_Triathlon
•            http://www.youtube.com/watch?v=YWxG-4y5kRU
• http://www.youtube.com/watch?v=Pm2qkWUSCcA&feature=player_embedded
• http://en.wikipedia.org/wiki/Ironman_Triathlon#Symbols

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