Airbnb Marketing Mix (Airbnb 7Ps of Marketing)
The concept of marketing mix (also known as 7Ps of marketing) comprises elements of the marketing mix that consists of product, place, price, promotion, process, people and physical evidence. Airbnb marketing mix (Airbnb 7Ps of marketing) below involves the analysis of these elements for the global hospitality service brokerage company.
Product Element in Airbnb Marketing Mix
Airbnb can be used to find places to stay and various tourism experiences around the globe. It is important to note that Airbnb does not own places or does not host the experiences it offers. It is only a platform between service providers and consumers.
The global hospitality service brokerage company has been increasing the range of its services regularly. Started only as s website that can be used to find bed and breakfast type of accommodation in 2008, today Airbnb offers a wide range of hospitality services. These include places to stay for various tastes, purposes and budgets, concerts, adventures, experiences and restaurants.
Place Element in Airbnb Marketing Mix
There are more than 191 countries and regions and about 100000 cities with Airbnb listings[1]. Airbnb offices are located in 34 cities worldwide.[2] The listings of the accommodation and experience marketplace are not concentrated in any single market. Less than 3% of all active listings are in New York City, London, and Paris. No one city accounts for more than 1% of our listings worldwide.[3]
Price Element in Airbnb Marketing Mix
Airbnb pricing strategy can be described as economy pricing. Airbnb is widely recognized as the most affordable option of finding an accommodation. The global lodging company charges hosts only 3% booking fee and guests are also charged a service fee (which Airbnb collects directly), and it may collect a VAT (value-added tax) in some jurisdictions.
Guests usually have access to common facilities such as their kitchen and laundry and this further increases value perception of service from consumer viewpoint. At the same time, compared to traditional hotels Airbnb has a pricing disadvantage in a way that customer have to pay the full amount in advance during booking the place…
Airbnb Inc. Report contains a full analysis of Airbnb marketing mix (Airbnb 7Ps of marketing) and Airbnb marketing strategy in general. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on Airbnb. Moreover, the report contains analyses of Airbnb leadership, organizational structure and organizational culture. The report also comprises discussions of Airbnb business strategy, ecosystem and addresses issues of corporate social responsibility.
[2] Fast Facts (2019) Airbnb Press Room, Available at: https://press.airbnb.com/fast-facts/
[3] Airbnb’s Growth and Summer Travel Updates (2019) Airbnb Press Room, Available at: https://press.airbnb.com/airbnbs-growth-and-summer-travel-updates/