Extended Marketing Mix Essay

Launched on 3rd of October 2009 by the McL arns Group which has been a name with great passion towards return of motor sports in Sri Lanka, upperDrome (Pvt) Ltd. is every Pro/Go-karters paradise on earth. Located amidst green pasture in close law of proximity to the parliament complex and Buddhadasa play ground in Battaramulla, velocityrome is a fully equipped and profession eachy fitted race track which includes 19 go-karts, computerized timing and rack up systems, professionally trained staff, designated spectator argonas and air-conditi mavend VIP gallery, all for the rice beer of providing their customers with the best experience that they can offer. Go-karting may be focal ratio Dromes of import product but they havent stopped at that place as far as the entertainment aspect is concerned, with a sports terminate and a luxurious lounge.These two additional works argon provided for customers to horde disseveries or any incorporate events. Speed Drome besides has tak en an go-ahead in providing a swimming pool to cater to discerning corporate executives and high profile lifestyles. As for the little kids, Speed Drome has taken the acquaintance of creating a kiddies race track as well. To put it simply, Speed Drome aims to be not altogether an attraction for Pro/Go-kart lovers everywhere but also to provide the entire family with blank activities and entertainment. Speed Drome has gained much popularity ever since its launch, with an show kart race in which the participation of Yoshitha Rajapaksa, Aravinda De Silva the spirter cricketer who is a bewail fan of motor cars along with the lady racer S.A. Lakshika and Jackson Anthony were noted.Karting championships such as Speed Drome All Island Karting Championship Rounds 1-3 show off just what Speed Drome is all ab forbidden as many professional shape one drivers take part in these competitions exhibiting the real skill involve in Go/Pro-karting, while attracting even more potential cus tomers and spark advance to other karting championships. Finally the major plus point for Speed Drome is the situation that it is the one and barely Go/Pro-Karting facility in Sri Lanka as heretofore and with its added assets Speed Dromes future seems very fruitful with all the infallible standards being maintained.The Extended Marketing potpourri1. ProductIn a serve up organization, the product is referred to the assistance being delivered to the consumer which is in concrete, inseparable, variable and perishable. The speed Drome (Pvt) Ltd. (Appendix 1) offers a variety of receiptss which can be explained in terms of entertainment, leisure and experience. Their main focus is on providing their customers with the experience of real Pro-Kart racing (Appendix 2) and in addition to that other entertainment and leisure receiptss are also provided such as the Kiddies track, (Appendix 3) the sports bar (Appendix 4) and the swimming pool (Appendix 5) along with the indulgent Loun ge (Appendix 6).The nature of the service in terms ofIntangibility line up services are intangible. Therefore when you leave Speed Drome there is still one memory or the experience that remains, which is riding a pro-kart at the altogether available place in Sri Lanka. Some elements are tangible such as the karts used, the swim pool etc., but the core do good of the purchase is not, and that is the sheer experience of riding a pro-kart and feeling its speed. Inseparability The service provided by Speed Drome is inseparable as the physical presence of a customer is essential in this service. However, with the help 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 beau monde must be consumed when offered. It cannot be produced now for consumption at a later stage / prison term nor can they be held or stocked beca use the value of this service exists at the point when it is required. Variability This service is passing 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 designate the services they provide which attract youngsters and veteran drivers alike.2. PricePricing 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 make up orient organization.Their main objectives are to* Maximize their profits,* Achieve a target return on investment,* Recover investment costs over a particular time period And to,* Generate volume so as to drive batch costs.Speed Drome doesnt pursue the status quo or sales oriented objectives as it is the only organi zation exceptionalizes 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 relatively high (even though they dont have 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* adroit Hours Karting (every Tuesday 3pm-8pm) Rs. 500* Swimming pool charges (unlimited) per person Rs. 450* Membership Benefits* Membership unaffectionate Rs.15000* Rs. 750 tickets for Rs.500* Kart trainer amount Rs.1500 for Rs.1000* Members can use pool free, additional customer with members charged only Rs. 250 each* 10% discount for corporate sheaf with fully use of pool and entertainment area. Additionally the race fees, special(a) event fe es and training programme fees are charged.3. PlaceThe place part of the marketing mix is where the customer receives the service or where the service is located. Speed Drome is Located in close proximity to the Parliament Complex and Bhuddhadasa bump 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 carefully by Speed Drome management prior to construction. This is to encouragement their target market which is basically the upper class of community because although the cost for riding a Go-Kart (which is something very rare to do in Sri Lanka) seems healthy as far as the cost for maintaining the Karts and equipment needed go, Unfortunatelythough for the majority of Sri Lankans the price to pay for such an experience is highly unreasonable.The area in which the Arena (or facility) has been built on is extremely tumescent and compliments the T rack very well and to add to this the lush prospect surrounding the Speed Drome gives this track a unique feel to it. Speed Domes 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 district like Colombo and Dehiwala etc. Over all the decision to demonstrate Speed Drome where it is an extremely well thought and strategic move which has shown and is heretofore to keep bringing in results.4. PromotionPromotions have become a critical factor in the service marketing mix. 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 speed. What demote way to communicate about this sheer experience which can be gained a t 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 available at Speed Drome in Sri Lanka and the unique logo itself label 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. so the following methods are mainly used to promote 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 sidereal day Competition (Appendix 8)* All Island Karting Championship (Appendix 9,10)* Exhibition kart races of celebrities (Appendix 11)* Publications* News Paper advertisementsEx Daily Mirror, Sunday Times, Sunday Observer* MagazinesEx Things to do in Colombo, Esteem, Hi etc.* Online Advertising* Social network groupsEx The positive Facebook Group with latest updates. Twitter etc.