Marketing Mix: Executive Visions Inc.1
Marketing Mix: Executive Vision Inc.
Michele Morehouse
University of Phoenix
MKT/421
Rhonda Vromen
Marketing Mix: Executive Visions Inc.2
Overview
To best emphasize the use the marketing mix, is an organization that uses constant marketing is
one whom may exemplify all four elements of the marketing mix. Executive Visions Inc. was founded
in 1986 as a premier leader in the event management industry. EVI is a corporate Event Management
Agency and Production company, which is an a subsidary of Brand-Immersive Experiences. An event
management firm is a firm that consults, coordinates and produces events for a client. As a Event
Management Agency the four elements of marketing mix; product/services, place, price and promotion
are visible through all aspects of the company, especially in the event management industry.
Product/Service
An event management firm specializes in bring a service to clients, which is the coordination
and production of a special event. Product is important element because it involves exclusivity,
branding, and capacity management (Kerin 2006). EVI as an event management firm will have certain
resources that will be hard to obtain. With Exclusivity it will not effect this industry because special
events is a service and not a product that can be patented. However, Branding and Capacity
Management can be used effectively. Branding with event management allows different firms with in
the industry to have their own style and flair to make it the firms own idea in away. Capacity
management will have no grounds with this service because of the fact that EVI offers event
management services. The avilability of the service will allow for no changes to occur based on
demand cycle in this industry vs. the supply and demand cycle of mass produced products like clothing
(Kerin 2006)
Executive Visions Inc. specializes in corporate meetings and events, celebrity entertainment
events, event marketing progams, product launches, training and education programs, and strategic
marketing communication consulting (EVI Services 2009). These services are based upon the needs of
the demands for event management. Event management has several features and benefits from these
Marketing Mix: Executive Visions Inc.3
services that helps publicize EVI. The branding of this service will be obtained through the testimonials
and references from clients. For an event management agency like EVI builidng refferals is important
because they help with building network relationships with potential clients.
Price
Unlike a product, a service will have different price ranges because of differing services
available. The pricing of services for an event management firm will depend on several factors
involved, such as studying the intricacies of th brand, identifying the target audience, devising the event
concept, planning the logistics, coordinating the technical aspects, and budgets through contract.
Depending on all these factors the price of a service from EVI will be negotiated. The negotiations of
contracts that price the value of the service will follow a developed set of pricing objectives and polices
(Perreault & McCarthy 2005). Most event management firms, whether individual or corporation will
have a way to manage the determined value of a service. With clients, such as Anheuser-Busch and
BellSouth the value of these services were very different.
Place
When a service is established or developed it needs to be located or placed where is can become
established, so that the services will concentrate on the target audiences. The location for a service
coordinated by Executive Visions Inc. will be determined by the type of services rendered. The channel
will depend on the specifications from a client of Executive Visions Inc. because wherever the service
takes place is where the service will be conducted. In most instances the place can start off in the firm
as the coordinating stage as a service is developed. This may change during the production stage of a
service. The change may occur when the actual service occurs, such as a live event production. EVI
was enlisted by Anheuser-Busch to produce Bud Bowl VI. This live event production took place in a
20,000 sq ft. ballroom, which was converted to a stadium and sports bar theme (EVI Projects 2008).
The use of the 20,000 sq ft. ballroom is the place of where the services will be available. The event
Marketing Mix: Executive Visions Inc.4
management industry's use of mutiple locations because of the services makes for a broad range of
channels available for the growth and development. This is an important channel for this industry
because this allows for EVI to market ideas and plans to clients, such as Anheuser-Busch.
Promotion
Promotion is important aspect of marketing mix for all organizations because this concept
shows the benefits of a service (Kerin 2006). Executive Visions Inc. like any firm that tries to show the
benefits of their services, through testimonials and refferals. Testimonials are an effective way to
promote or sell the benefits of a firms services because this is an endorsement from a client or customer
whom has used those services having their needs satisfied completely. Aside from testimonials,
refferals are helpful in building a businesses portfolio. Event management firms strive to meet the
needs and expectations promised to a client because their projects can be used in selling their services
to potential clients.
Executive Visions Inc. online website caters to this through having a testimonial link on their
offical website. This link shows the testimonials of past clients whom were thankful for EVI's services.
One such client was Apple Computer's who stated, “As the project manager for Apple Computer's
biggest product introduction since the MacIntosh itself, I'm writing to say thank you for making our
event a tremendous success!...the event proceeded flawlessly and my team and I enjoyed rave reviews
from upper management and customer alike. I thoroughly enjoyed working with you and your team."
(EVI Testimonials 2008). In addition EVI's website created a video library archive of all the projects.
Through this element EVI effectively advertises their services to potential clients. By promoting the
services of EVI through the testimonials, EVI's will have more marketing tools available to influence
clients (Kolter & Keller 2006). The development and growth of marketing strategies and tactics are
influenced by the testimonials and refferals as a positive increase towards future business and decisions
used to create an image for clients.
Marketing Mix: Executive Visions Inc.5
Through the use of the four elements of the marketing mix organizations, such as Executive
Visions Inc, that offers services the development and growth of marketing strategies and tactics are
accomplished differently than if it were a product. Services are a tangiable asset, while products are
considered intangiable because of the differing factors, such as return on investment and capacity
management. Services have a more broad range of access with the four elements of the marketing mix,
since services can allocate more resources depending on the industry. Executive Visions Inc. effectively
uses the four elements of marketing tools to intergrate the services offered to consumers of the event
management industry.
References:
Marketing Mix: Executive Visions Inc.6
(2008), Executive Visions Inc.: Services, Retrieved April 2, 2009 from
http://www.executivevisions.com/services_overview.asp
(2008), Executive Visions Inc.:Projects: Anheuser-Busch Bud Bowl IV, Retrieved April 2, 2009
from http://www.executivevisions.com/projectdetails.asp?ProjectID=14
(2008), Executive Visions Inc.: Testimonials: Apple Computer, Retrieved April 2, 2009 from
http://www.executivevisions.com/testimonials.asp
Kerin, A. Hartley S., Berkowitz, Rudeluis (2006) Marketing: Chapter 12: Managing Services,
Retrieved April 2, 2009 from pp. 327-329.
Kolter P., Keller K., (2006), Marketing Management: Chapter 1:Defining Marketing, Retrieved
April 2, 2009 from pp. 19.
Perreault, McCarthy, (2005), Basic Marketing: Chapter 17: Pricing Objectives and Policies,
Retrieved April 2, 2009 from pp. 464-465.