Question

The car rental company Hertz had a corporate objective to boost its market share by appealing to frequently traveling business people. They created a new product called the Hertz Gold Club loyalty program. The Gold Club charges a higher price, and it remembers customers' car preferences and locations, provides fast pickup and drop-off services, offers premium services such as including a GPS navigation system in each car, and meets the time crunch of business travelers by having their cars ready and waiting with key in ignition for step in/drive off privileges without the paperwork typical of a car rental experience. From this example you can identity that Hertz has:

Answer 1

Answer:

Used the marketing mix to achieve its marketing objectives

Explanation:

The car rental company Hertz had a corporate objective to boost its market share by appealing to frequently traveling business people.

1. They created a new product called the Hertz Gold Club loyalty program.

2.The Gold Club charges a higher price,

3. and it remembers customers' car preferences and locations (place),

4. provides fast pickup and drop-off services, offers premium services (promotion) such as including a GPS navigation system in each car, and meets the time crunch of business travelers by having their cars ready and waiting with key in ignition for step in/drive off privileges without the paperwork typical of a car rental experience.

From this example we can identity that Hertz has used the marketing mix to achieve its marketing objectives.

The scenario is comprehensive on the marketing mix because it started by creating a new product, charged a higher price, remembered customers preferred places and offered promotional premium services; all in the bid to achieve the objective of boosting its market share.

Answer 2

Answer: The answer is Hertz has used the marketing mix to achieve the corporate objective of the business to boost its market share.

Explanation:

Marketing mix is the combination of elements a business used in order to achieve the greatest success in the market place. The marketing mix is otherwise known as the 4P's of marketing which includes

Product : This is the combination of product, services, or ideas that a business offer to the target market

Price : This is the amount customers has to pay to acquire a product or services.

Place : This is the channel of distribution to be used by the business to get the product or services to their customers.

Promotion : This is the combination of all activities that a business can used to bring to the notice of their customers the benefits that can be derived from the product or services the business offered to the target market.