This marketing plan outlines the strategies and tactics to be used by Trailfinders, a travel and tourism organisation, to achieve its marketing objectives and business goals.
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Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1 Explainrolesand responsibilitiesofmarketingfunctionwithintravelandtourism organisation............................................................................................................................1 P2. Discuss how roles and responsibilities of marketing relate to wider organisational context ................................................................................................................................................2 TASK 2............................................................................................................................................4 P3 Compare the ways in which this organisation apply the marketing mix tomarketing plan process to attain business goals..............................................................................................4 TASK 3............................................................................................................................................8 P4 Produce a marketing plan for travel and tourism organisation to meet marketing objectives of the organisation..................................................................................................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing is defined as set of different activities which are conducted by companies for promoting the selling and buying of services and products. The main objective of marketing is promotions and advertisements. Promotions are targeted to specific target customers and this mayincludecatchyphrases,slogans,memorablepackaging,mediaexperience,etc.The marketingdisciplineconsistsofvariousactionswhicharetakenbyanorganisationfor maintaining customer relationship.The travel and tourism organisation is considered in the followingreportnamingTrailfinders.ThisisatravelcompanyofUK.Thisislargest independently owned travel company of UK and it has approximately 31 travel centres in UK. This company specialises in tailor-made travel worldwide including New Zealand, Australia, Asia, Africa and North and South America. The following report is based on marketing of this company in UK. It includes roles and responsibilities of marketing, relation between different departments. There is also marketing plan given in this report for this company. TASK 1 P1Explainrolesandresponsibilitiesofmarketingfunctionwithintravelandtourism organisation Marketing is a set of activities that is used in promoting and selling of goods and services offered by the company or it is a creative activity of fulfilling requirements and needs of the customers. In order to approach target market, marketing helps in creating and identifying the value and needs of the consumer that leads to increase in profit of the company. In addition to this, it also identifies the size of market and which segment company need to target so that maximum profit can be generated. Therolesandresponsibilitiesneededinthefunctionofmarketingbymarketing department are discussed below: Brand management-Brand is the personal identity of an organisation. To manage the brand is the main function of marketing due to which a company can gain competitive advantage. Marketing department helps in finding the best opportunities forthe company that aid in building good reputation of the brand in the market. With this, a strong relationship is made with the customers which in turns to the loyal customer forthe company. In context to 1
Trail finders, the company has been a good brand reputation in the market that increase the profitability of the company year by year. Research-Researchis the most important element of marketing department through which a company can gather and collect information about its customer taste and preferences. Through research company get to know about the choices of target customer. With reference to Trail finders, the company make huge investment in research and development in order to attain organisational objectives and goals. Product development-This function of marketing in Trail finders connected with making number of deals that is offered by the company as an entity. In simpler words, it is marketing department role to produce those services which the customer can easily afford. The goods that is produced is of high quality. The information collected and gathered through customer feedbacks that is used by the company in identifying and analysing the present situation of the market. Innovative and creative:The marketing department is responsible to create unique and different products in the market. Whether it is the innovation in old product or producing of new product it is the main role of marketing department to make it different from its competitors and gain a competitive edge in the market. In context to Trail finders, their policies is differentand unique that easily attract large number of customers within the market. Managing strategy:To carry out the business activities properly of a company, the marketingdepartmentplaysimportantroleinimplementingtheseactivities.Itisthe responsibility of marketing department to made those strategies which is easy to manage and implement. In context to Trail finders, their strategy is to give unbeatable service to its customers that no competitor can match in the market. In addition to this, a good percentage of market share is covered by the marketing manager of the company that increase the profitability as well as productivity of the company. P2. Discuss how roles and responsibilities of marketing relate to wider organisational context Marketing function plays a crucial role that helps in analysing good marketplace for the product offered by the company. It also help in promoting the business activities that is different from its competitors. Marketing functions includes promotion, market research, advertisement, customer service, marketing plan, public relations, product development , marketing &sales distribution and so on.All the marketing functions is somewhere related with the other departments of the company whether it is finance, human resource and sales department. This 2
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interrelationship helps in managing and coordinatingthe activities of the company. A detailed description of interrelatedness among departments are discussed below: Marketing and Sales-The main function of marketing department is to influence and attract large number of population in the market. Marketing department help companies in retaining the customers for longer period. The companies main motive is to target potential customers and increase the sale of the company. The company can build its image in the market when it has a strong promotional tools that is different from its competitors. Retaining high number of customers leads to producing of more products and services which in turn increase the sale of the company. Change in the number of customer base due to marketing activities means company is growing and the sales is increasing. In order to provide good service to the customers or above the expectations of consumers, marketing department need to have proper and appropriate information about its customers and target market. In context to Trail finders, the company increases its sales through effective marketing promotional tools. In addition to this, market research is conducted to know the strategy of its competitors and produce differentiated products from them. The Trail finders can collect and gather information to make travel packages as per the customers requirement so that the productivity and sales of the company increases. Marketing & HR-Hire the best employee for the organisation is the main role of human resource department. Human resource department in a company has the responsibility to finalize those employee that fulfils the requirement of vacant position in the company. Talent, skills and knowledge of employees directly contributes inthe success of an organisation. In context to Trail finders, the marketing manager urgently requires employees who can do advertisement of new services. For this, the manager directly communicate to the Human resource department in order to hire the employee and fill vacant position. The working of HR is to find those persons who can match the criteria and have the skills to perform the job. This directly shows that there is inter-relationship between human resource department and marketing department. With an aim to achieve objectives there should be a proper coordination among the departments that directly affects the marketing functions of the organisation. Marketing and Finance- 3
To carry out any of the activities related to marketing , the organisation require budget for it.In context to Trail finder, the organisation want to promote its new product and conduct campaigns to aware customers in the market. To conduct this, the marketing department need finance so that they it can be done ina cost effective manner. The finance department issue a budget for the marketing activities in order to maintaingood financial stabilityof the organisation. This interrelationship between the marketing and financedepartments affect the overall sales of the company. In addition to this, it aids the organisation to maximize the use of resources which leads to attain organisation goals and objectives effectively. TASK 2 P3 Compare the ways in which this organisation apply the marketing mix tomarketing plan process to attain business goals Marketing mix is defined as strategic tool which is used for evaluating different elements of marketing that helps in promoting products and services of company. This gives guidance to marketers about strength and weakness that the company has. This analysis helps to know how company can sustain in market for longer time. The marketing mix of Trailfinder is compared with Booking.com for deeper understanding of this concept. Elements of Marketing Mix TrailfinderBooking.com ProductThisismainproductwhichthe company is dealing with. A product is known as main reason on which profit and sales of the company depends. The strategy used by travlefinder.com is diversification of products.This companyprovidesvarioustypeof servicesforattractingalotof customers. Another strategy used by Thisorganisationfocuseson customer-basedservice development.Thisisaprime strategyadoptedbythis organisation.Thisorganisation does not provide a wide range of services.Thiscompanyprovides services to customers which are in highdemand.Thedifferent 4
thisorganisationisdifferentiation. This is useful for gaining competitive advantage in market. Such services areabletomeetrequirementsand needsofcustomers.Trailfinder provides services like online booking of tours, ticket bookings, etc. services provided by booking.com are Hotels, guest houses, etc. PriceThis is value or amount of service or product offered by the organisations. Price of product are affected by a number of factors includingdemand and supply, pay to labour etc. These factorsareconsideredwhile developingpricingstrategies. Trailfinderhasadopted competitive pricing strategy. This is helpful for growing in the existing and potential marketsby providing services at relativelylesserpricethan competitors. Booking.comusesdifferentiated pricing strategy for it's services and products.Thisorganisation providesvariousdealsand discountofferstocustomersin order to attract more customers. In thiscompany,priceisestimated by fixing iton the basis of actual perceived value of the services. 5
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PlaceThisislocationfromwhere customerscanbuyservicesand products.Thisconsistsofeasy distribution of various products and services.Thisrequireshuge investment for a detailed researchor investigation.Thiscompanydo businessintwodifferentways- physicaloutletsandonline. Customerscanvisitit'sphysical outletfortourpackages,booking hotels,airlines,etc.Thiscompany also provides service at it's website. People can visit this and access tours and travel packages anywhere. Booking.comisacompanythat gone intodigital transformation. Peoplehaveshiftedtoonline bookings and as internet of things israised,itwasbeneficialfor Booking.com to made it's business online.Thiscompanyprovides servicesthroughamobile application.Thisisthewayby which customers can communicate withcompanyandgettheir requiredservices.Anindividual can availservices by using the mobile application. There are also physicalstoresofthiscompany where customers can get services which are related to services of the company. 6
PromotionThis is associated activities conducted for make services or products well knowntocustomers.Trailfinder promotesproductsorservicesto customers by usingtraditional media approaches such as radio, television, newspaperadvertisingetc.Thisis bestmannerformakingcustomers regardingservicesgivenby Trailfinder. Social media advertising ishelpfulforTrailfindertoattract morenumberofcustomersinless time. Booking.com uses social media for promotingservicesandtour packages given by the company. There are many people who are active on platforms like Facebook, Instagram, Snapchat etc. and these are used by various people. It is bestmannerofadvertising services offered by the company. Thereisalsouseofradio& television in order to promote the servicesforattractingalotof customers. ProcessThe process is defined as manner in which a company functions. This is anapproachforreachingtarget customers. There are more than one processes adopted by Trailfinderfor managing the products & services and makethemavailableforend consumer. Booking.comismoreintousing simple and easy to use processes so that customers and employees can utilisethem. Thishasprovided services to different hotels. 7
PeopleThis includes people who at place for selling products for earning profits. Theperceptionsandviewpointof people are most essential for offering serviceandproducttothem.Also employees working in the company includethisconcept.Thereare talentedemployeesworkinginthe companythatincludesvarious departments such as sales, customer relationshipmanagement,etc.The main concern of Trailfinder is that theyarerecruitingqualityand talented employees in their firm.For providing customers quality service, it is necessary to hire talented and skilled employees who can perform activitieseffectively.Moreover, the target customers are the millennials and business persons who are willing to spend and avail the services. Booking.com uses differentways formotivatingemployeesofit’s firm.Theyuseappraisal programmes,trainingsessions, development programmes etc. This developsemployee’sskills and capabilities. 8
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Physical evidenceIt refers to the marketing environment whereintheinteractionbetween customerandfirm.Trailfinderhas distinctpackagingofitsproducts within its retail shops. Moreover, it hasincorporatedwebsitewhichis user friendly and high quality images and videos are available for people to develop their perceptions about the services provided by the company. Personalisationisappliedin Booking.com. This is helpful for customers for selecting the services like choosing the accommodation, holiday packages, etc. This is done according to demands and needs of buyers who are given services. TASK 3 P4 Produce a marketing plan for travel and tourism organisation to meet marketing objectives of the organisation Marketing plan is referred as document which describes strategies and plans which are used in order to advertise and promote services and products. This is used for communicating interactingwiththeconsumers.Thisplanisusefulformakingservicespopularamong customers. Strategic marketing plan has main objective for attaining organisational goals. This also increases competitive advantage of this company in marketplace. In context of Trailfinder, there are various services offered to customers. These services include booking services, tour packages, travel service providers. Customers can use website of this company and make bookings and tour orders in an effective manner. Customers can make the bookings in an instant manner by using internet and website. This is helpfulforin flight engagement , fast check-ins, etc. The marketing plan of Trailfinder is mentioned below - Offerings:The different services offered by Trailfinder are tour packages, personalised services, tourist destination fares, etc. This is done bywebsite and physical outlets. The main 9
objective of Trailfinder is for assisting customers to book tours and travels effectively. Together with this, self check-ins is also its another feature. 3.1 Difference between a basic (tactical) marketing plan and strategic marketing plan Strategic marketing plan is important for every organisation that there must be effective strategies present between management. This type of planning includes having a good analysing andunderstandingofnewtrendswithinthehospitalitysector,competitivepositionand demographics and buying behaviour of customers. On the other hand, marketing plan is defined as road mapused for attaining objectives and goals of financial plan that entailsmarketing budget. The tactical marketing plan consists of advertising , community building and sales promotion. The Advertising of products and services of the organisation is done by using radio, television, radio, print marketing ,etc.This is communication of brand image and informing target customers about existence within market and promotional events. Benchmarks are set for production of revenue and adjustment of strategic assumptions are done. ANALYSIS Destination mission and vision– The vision of Trailfinder is to provide effective servicesto customers so that it becomes benchmark for traveling companies. The mission of Trailfinder is to provide affordable trips and plans for travelling. Situation analysis (environmental scanning) Environmental scanning is defined as the process of collecting information regarding events and relationships within the company's external and internal environment. Environmental scan (PESTLE analysis) The PESTEL analysis is defined as market analysis done for analysing the various factors of business environment that can affect functioning of business operations. In context of travel and tourism company it is important to analyse all factors before providing service in market. The elements of PESTLE in context of the tour and travel organisation is given below - Political factors Thepoliticalstabilityisimportantfor managingthehospitalityorganisationlike Trailfinderhastoworkeffectivelyby managing all rules and regulations provided by 10
government. Environmental factors This traveling company focuses on managing anddoingactivitieswhichdonoharm environment. Social factors Itisveryimportantformanagingand analysing the needs and wants of customers. They are provided services according to the needs of customers and clients. Technological factors Trailfinder uses new technology for booking services, boarding services, etc. Economical factors Economic factors affects the functioning of Trailfinder. This organisation makes travelling and tour services in places where there is high economy and good conditions of living. Legal factors Trailfinder has to follow different regulations and rules that are given by government. Destination analysis (SWOT analysis, PLC analysis) The PLC analysis is defined as cycle by which products offered by the company goes from introduction to the withdrawal demise. The stages of this model in context of Trailfinder is listed below - Introduction- This is defined as the entry stage where products are just introduced in the market. In this stage, heavy marketing and promotion is doen for Trailfinder’s tour and travel plans. Growth– This is defined as the next stage where the new product or service is enhanced within market. This is profit making stage and stabilisation of market share takes place. Maturity– This includes sales growth at slow rate and then finally there is stabilisation. Here product differentiation takes place. 11
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Decline –If the new product or service is not making enough money then the offering of that product or service is stopped. SWOT analysis StrengthWeakness Trailfinder provides services to places that are attractiveandhavecomfortableweather conditions. Thereisskilledworkforceworkinginthis organisation. There is higher intervention of government. Thisorganisationprovidesgood accommodation facilities. OpportunityThreat Opportunityforimprovingsecurityand economyinthecountrydevelopmentand research. There is high competition in market so this organisation has to develop strong marketing strategies to capture wide range of customers. USP's Identification The travel and tourism organisation, i.e. Trailfinder organisation has unique selling proposition. It provides attractive and affordable packages of vacation across the world at affordable prices. Positioning analysis:Trailfinder has been able to create a significant position in the market which this company is targetting. The positioning strategy is considering various weakness and strength so that they are able to create a effective position in the market. USP Identification:The unique service which is provided by Trailfinder is related to various services which are being provided by this company. The unique service which they are providing includes tailor-made travel service which they are providing to their customers. PLANNING Marketing Goals:The main marketing goals of this company isto create a position which is related to achievement of various objectives or sales targets. Such as there are targets which are set by a company in terms of sales figure which they are willing to achieve in a coming quarter or coming period. Trailfinder also has set marketing goals which have been decided bythe marketing department of company. 12
Marketing objectives The below-mentioned are the strategic goals which TRAILFINDER wish to achieve, the same are as follows: Trailfinderhasanaimforachievinganobjectiveforincreasingefficiencyand performance of business by 10% within a time period of 10 months. To increase customer satisfaction by 8% within 5 months from the introduction. IMPLEMENTATION ' Action plan Timelines:This is related to what are various resources which will be required in order to achieve a particular objective in a company. It is a document which is dealing with various steps which are needed for achievement of a goal. There is a timeline which is made in trailfinder which will help this company in determining of tasks to achieve their set goal. Marketing Budget -It is useful to identify the target market for selling the services. Therefore, STP analysis has been conducted which is as follows:segmentation-On the basis of this, the market has been categorised into two parts viz. Geographical which involves locations and demographical on the basis of age, gender, income etc.Targeting-Trailfinder is targeting customers earning more than £1500 including people living in rural as well as urban areas. Positioning-It has business presence online as well as physical outlets. This covers mobile application and social media platforms. Marketing Budget Jan uary Feb ruar y Mar ch Apri lMay Jun eJuly Aug ustSeptOctNovDecTotal 13
Fix + Direct Costs.208685532851662375831132014 Net Profit: Sales – Sub total 41,3 80 45,5 14 50,3 15 53,2 47 60,7 72 66,8 49 73,5 34 79,4 77 87,9 25 95,7 17 1,02, 789 1,14, 068 8,71, 586 7 p's : Product:This is related to the exact product which the company is dealing in in case of Trail finder attempts are made that this should be dealing in providing services which rae having something different so that they are able to have a differentiation advantage. Price: This is related to monetary value of a product or service in which company is dealing. trailfinder is a established company and they are willing to provide their services at reasonable prices. Place: This is the target market of customers. They are having a target market which is the customers of all classes and there is no particular segment which is targeted by this company. Promotion: Extensive marketing techniques are not used by Trailfinder instead they are willing to use the bets quality of their service which can help them in maintaining and attracting more customers. People: This is dealing with all the associated stakeholders in the company. Trailfinder is able to mange all the individuals in their company in a more effective manner as satisfaction of these people help in enhancing their performance at the workplace. Processes: This is with concern to overall process which is being used in the company. Trailfinder always ensures that they are able to attract customers. Physical Evidence: This is the actual service which is availed by a person or a customer. In case of Trailfinder when a customer is actually travelling somewhere that is the physical evidence of that particular service. 16
MONITORING Performance measures/Indicators -There are several measures for monitoring the marketing plan. One of the most effective method is Key Performance Indicators. These are the elements which indicate as to whether the plan is working according to set standards or not.Trailfinder will measure it's performance by checking the level of customer satisfaction. CONCLUSION From the above discussion, this is analysed that marketing plays an important role in business operations. The marketing department is interrelated with other functions of the organisation and this helps in smooth functioning of the company. It is very essential for comparinguse of marketing mix of two organisations. This is helpful for developing strategies andtactics. These are helpful forensuring attainment of organisational objectives andgoals. Lastly, a strategic marketing plan helps in developing a pathway for marketing and providing new offerings of an organisation within the market. 17
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