Extended Marketing Mix

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SPEED DROME (PVT) LTD.

Name| Sachini Tharanga|
Student ID| ADBM-F-20147|
Subject| Marketing Management|
Module No.| 105|
Lecturer| Mrs. Chulani Senarathna|
Due Date| 13th May 2011|

EXECUTIVE SUMMARY
The requirement as per the assignment was to comprehend the key aspects of the extended marketing mix by applying to a realistic service organizational context. This assignment covers one of the core concepts in Marketing, the seven P’s, Product, Price, Place, Promotion, People, Physical evidence and Process that comes under the subject Marketing Management- Module 105. Therefore Speed Drome (Pvt) Ltd. was visited and conducted an extensive research which helped to gather Primary information through the strategic level managerial staff.

Table of Contents

Introduction…………………………………………………………………………..01 Extended Marketing Mix
Product…………………………………………………………………………02
Price……………………………………………………………………………..03
Place……………………………………………………………………………..04
Promotion…………………………………………………………………….04
People…………………………………………………………………………..05
Process………………………………………………………………………….06
Physical Evidence………………………………………………………….08 Weaknesses and Strategies……………………………………………………09

INTRODUCTION

Launched on 3rd of October 2009 by the McLaren’s Group which has been a name with great passion towards improvement of motor sports in Sri Lanka, Speed Drome (Pvt) Ltd. is every Pro/Go-karter's heaven on earth. Located amidst green pasture in close proximity to the parliament complex and Buddhadasa play ground in Battaramulla, Speedrome is a fully equipped and professionally fitted race track which includes 19 go-karts, computerized timing and scoring systems, professionally trained staff, designated spectator areas and air-conditioned VIP gallery, all for the sake of providing their customers with the best experience that they can offer. Go-karting may be Speed Drome's main product but they haven’t stopped there as far as the entertainment aspect is concerned, with a sports bar and a luxurious lounge. These two additional services are provided for customers to host parties or any corporate events. Speed Drome also has taken an initiative 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 liberty of creating a kiddies race track as well. To put it simply, Speed Drome aims to be not only an attraction for Pro/Go-kart lovers everywhere but also to provide the entire family with leisure activities and entertainment. Speed Drome has gained much popularity ever since its launch, with an exhibition kart race in which the participation of Yoshitha Rajapaksa, Aravinda De Silva the former cricketer who is a keen 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 exactly what Speed Drome is all about as many professional formula one drivers take part in these competitions exhibiting the real skill involved in Go/Pro-karting, while attracting even more potential customers and leading to other karting championships. Finally the major plus point for Speed Drome is the fact that it is the one and only Go/Pro-Karting facility in Sri Lanka as yet and with its added assets Speed Drome's future seems very fruitful with all the necessary standards being maintained.

The Extended Marketing mix
1. Product
In a service organization, the product is referred to the service being delivered to the consumer which is intangible, inseparable, variable and perishable. The speed Drome (Pvt) Ltd. (Appendix 1) offers a variety of services 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 services are also provided such as the...
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