5 p's of marketing

[Pages:2]4 P's of Marketing

Scott Enterprises is a booming commercial enterprise in Erie, Pennsylvania. This familyowned company created Erie's first indoor waterpark in 2003 called Splash Lagoon, which is now one of the largest and most popular indoor waterparks in the northeastern part of the United States. Being that the Splash Lagoon consumers comprise much more than solely Erie residents, it is important for Scott Enterprises to strategically recognize their target market and incorporate the four P's from the marketing mix in order to maintain a successful business and a favorable reputation.

It is obvious that Splash Lagoon is most frequented by families and children. And although this target market is usually targeted with a concentrated marketing strategy, Scott Enterprises uses a differentiated marketing strategy from time to time with the aim of invoking new, nonconventional consumers. Therefore, their target market is mainly comprised of parents with young children, children themselves, and families, but is also not limited to college students, schools (for field trip purposes), and non-profit organizations (for fundraising purposes).

Identifying the target market for a commercial enterprise is just the start to developing an integrated marketing program. In order to create and maintain a successful marketing program, Scott Enterprises utilizes a marketing mix, which includes the four P's of marketing: product, price, place, and promotion.

The creation of an indoor waterpark in Erie is a unique business expenditure that satisfies people's entertainment demands. Although Erie has a zoo, small amusement park, and a 10-milelong beach, its weather is only suitable for these activities three out of the 12 months in a year. Because of this, the product of Splash Lagoon is in high-demand in the consumer market.

The price for Splash Lagoon passes rarely varies, but that's only because the prices are fair compared to other amusement parks and attractions. Six Flags Amusement Park costs about $50.00, but Splash Lagoon only costs about $30.00 for children and $40.00 for adults. Also, to get from one end of Splash Lagoon to the other only takes about five minutes, which is a mere fraction of time taken at Six Flags. Because of Splash Lagoon's reasonably sized vicinity, spectator passes are available for purchase for those who do not wish to swim in the park, like grandparents. Also, all high school and college students receive 20% off of passes.

Erie's central location has allowed the third P of marketing, place, to serve as an essential means of attracting new consumers. Splash Lagoon lies right off of I-90, which is directly linked to Buffalo, Canada, and Cleveland. Erie is also less than two hours from Pittsburgh. Splash Lagoon is connected to a Holiday Inn Express, Ramada Inn, and Boston's Pizza in order to attract travelers. Lastly, Splash Lagoon is across the street from Family First Sports Park, a large arena that hosts hundreds of boys and girls soccer tournaments each weekend (these young soccer players travel from around Northeastern U.S. with their families and teams and usually stay at one of the hotels connected to Splash Lagoon).

To complete Scott Enterprises' marketing mix, Splash Lagoon must reach out to customers through promotion. To do so, Scott Enterprises flaunts the numerous merits it has, including being a family-owned and operated business, owning nine restaurants and eight hotels, and satisfying the needs of every type of customer. Splash Lagoon still continues to expand and upgrade even after almost a decade of its birth, and rarely fails to provide entertainment to people of all ages.

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