From 4P's to 4 E's – How to Avoid the Risk of Unbalancing the Marketing Mix in Today Hotel Businesses

Abstract

No-one would doubt that hotel business owners are operating in dynamic and challenging times. The frameworks strategic marketers once used are also evolving embracing some of the changes in today’s technology and environment. Recently, Chairman and CEO of Ogilvy One Worldwide, Brian Fetherstonhaugh, advocated the replacement of the traditional marketing mix – known as the “4 P’s” with a modern day version – the “4 E’s”. Acknowledging these changes, the new mix elements should be integrated into marketing plans for more comprehensive and appropriate strategy development which can contribute to diminish the risks in hotels contemporary economy. Some innovative travel programs will be presented to better illustrate this issue.