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Reviewing the Marketing Mix Based on Ironman and TransRockies - Case Study Example

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The current paper critically analyzes Ironman’s use of the marketing mix and examines its application in comparison with TransRockies. The paper begins with analyzing the Ironman’s use of the marketing mix and explains how TransRockies Inc. operates with applying the previously understood concepts…
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Reviewing the Marketing Mix Based on Ironman and TransRockies
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Download file to see previous pages First, the paper will illustrate the evolving role of marketing in these two companies.
As an individual from Ironman, the company’s firm belief is on the experience and relationships. The company is of the belief that life and business both need to be tested equally. Factors, besides the previously mentioned, such as value, works as one of the best tools that bring together people and products. As an Ironman, competitiveness is at the top, and thus the client base is all about those who have an interest in the Ironman competitions, marathons, and off-road cycling as well (Ironman).
This paper will be discussing and examining the Ironman’s use of the marketing mix, which is the basis of marketing planning and analyzing its application in comparison with TransRockies. In doing so, the product, price, place, and promotion are all mixed up into two words; securing the product and the financial sponsorships. As far as the relationship of Ironman and its marketing is concerned, most of the successful marketing is dependent upon the performance of the athlete, and the fact that his or her performance is able to hand the logos and products of the company a good disclosure. The athlete, in this case, would be the one who would mostly finish at the top three positions of the event because always finishing on the top can be regarded as a case of Utopia. While there may be many discussions and debates over the correct use of the word for an individual from the triathlon community, it is an established fact that the tactic provided above holds useful in the age of tight budgets (Epstein).
With that established, it becomes imperative to consider as to how one must keep generating revenue, increase the potential of sponsorship of the triathlete, and maintain his or her foothold in the field of this sport. One of the basic challenges to consider of the marketing mix, especially in this context, is the fact that these triathletes, hence the target market, never become a team, and thus, have separate performances. More specifically, they do not relate to any unions or associations, since they do not have any fixed salaries, they also do not have any inclination towards the collective-bargaining agreements. Therefore, the target market for Ironman earns money in two ways; the races and the sponsorships. Certainly, the races represent the money that is purely due to the challenging races played by the athletes themselves; where it has been a general observation that the agents do not ask for a percentage, the sponsorships speak otherwise. The money from sponsorships is basically from the contracts that prove as a highly attractive market for those companies whose goal is to make money. This area of serious sport is very beneficial to nearly every sports marketer, because it represents three sports that are swimming, biking, and running. In such a scenario, it is easier for sports marketers to gain sponsorships from a number of companies as the base is broadened. ...Download file to see next pagesRead More
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At first, I thought 11 of pages is too much for such a subject. But now I see it could not be done smarter. As the author starts you see the complexity of the subject. I’ve read all at once. Perfect essay

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