Report on Significance of Strategic Marketing Planning for Thomas Cook
Added on 2020-05-28
25 Pages6301 Words136 Views
Running head: MARKETING IN TRAVEL AND TOURISMMarketing in Travel and tourismName of the student:Name of the University:Author note:
1MARKETING IN TRAVEL AND TOURISMAbstract:The report mentions the significance of strategic marketing planning for Thomas Cook forMorocco and Egypt package. It mentions relevance of marketing research and marketinformation to managers in the travel and tourism sector. Marketing involves identification of theneeds and wants of the customers and the changes in their tastes and preferences along with theidentification of the marketing strategies used by the competitors. This enables the organizationsto develop strategies that are superior to the competitors and helps the organizations in satisfyingthe needs and wants of the society in a better manner. The report also mentions the influence ofmarketing on society.
2MARKETING IN TRAVEL AND TOURISMTable of Contents2.0 Introduction:..............................................................................................................................32.1 Significance of strategic marketing planning for Thomas Cook for Morocco and Egypt.........32.2 Relevance of marketing research and market information to managers in the travel andtourism sector:...............................................................................................................................102.3 Influence of marketing on society:..........................................................................................122.4 Conclusion:..............................................................................................................................14References:....................................................................................................................................15
3MARKETING IN TRAVEL AND TOURISMAssignment 22.0 Introduction:Travel and tourism is an important economic activity in a majority of the countries acrossthe globe. Travel and tourism industry has a significant impact on the growth and developmentof a country as it has direct, indirect and induced impacts on the countries. Travel and tourismhas become one of the fastest growing industries in United Kingdom as a result of the changesand the demands of the people along with the changes in their priorities. Travel and tourism hascontributed significantly in the economic development of the country (Xiang, Magnini &Fesenmaier, 2015). The travel and tourism industry in UK comprises of several organizationsthat offer travel and tourism packages to the customers. There is a strong competition among thetravel and tourism companies in UK due to which these organizations extensively use marketingtechniques for diverting the focus of the customers towards their organization (Becker, 2016). Thomas Cook is a British travel and tourism organization, which was established in theyear 2007 ("Thomas Cook | Package Holidays, Hotels and Flights, Cheap holidays", 2018). Thereport emphasizes upon marketing strategies of the organization, while emphasizing upon theholiday package launched by Thomas Cook that comprises of a trip to Egypt and Morocco. Thereport shall analyze the importance of strategic management planning for Thomas Cook andshall examine the importance of marketing research to the managers in Thomas Cook. The reportshall also identify the impact of marketing on the society. 2.1 Significance of strategic marketing planning for Thomas Cook for Morocco and Egyptpackage:
4MARKETING IN TRAVEL AND TOURISMStrategic marketing planning refers to the management activity, which enables theorganizations to set goals, emphasize upon resources, improve operations and assure that thestakeholders work towards the achievement of the common goals of the organization (West, Ford& Ibrahim, 2015). Strategic management plan enables the organizational managers to ascertainthe most appropriate goal for the organization and the manner in which the goals shall beachieved by the organization. The strategy comprises of a major goal, which is further dividedinto several segments. Strategic marketing plan helps the organizations in get rid of theorganizational activities, which are of no use and waste the time and money of the organization(Schegg, & Stangl, 2017).Strategic marketing enables the organizations to emphasize upon the importantorganizational activities by designing a proper framework for the organization, which helps theorganization in its functions such as making the customer service more effective, helping inpreparing appropriate budget plan for the organization and several other functions (Payne &Frow, 2014). Strategic planning enables the organizational managers to have a greater insightinto target market and the needs and wants of the customers. With the increase in the level ofcompetition, the organizations nowadays emphasize much upon the formulation of marketingplans, which help them differentiate their products and services from the products and services ofthe competitors. Strategic plan not only helps an organization to understand the market in a bettermanner but also helps the organizations in improving their overall performance (Proctor, 2014). Strategic marketing planning shall help Thomas Cook in refining its value proposition.The strategic plan shall enable the organization to determine the purpose or goal that it wants toachieve. It shall also help Thomas Cook in distinguishing itself with the other rival organizations.Strategic plan shall enable the company to refine and emphasize upon its unique value
5MARKETING IN TRAVEL AND TOURISMproposition. Thomas Cook’s unique value proposition lies in its capacity to provide tourpackages at lower costs than its competitors (Armstrong et al., 2015). Therefore, the companycan emphasize further upon its cost advantage in order to attract more customers. An appropriate strategic marketing plan shall help Thomas Cook to determine itstarget customers along with their requirements. Nowadays, a majority of the online businessactivities are based upon travel and tourism. A large number of customers search for tour andtravel packages over the internet therefore; Thomas Cook must emphasize upon improving itsonline operations in order to attract the customers, who are entirely dependent upon the onlinetravel sites for their tour requirements (Papadopoulos & Heslop, 2014). Strategic marketing plan shall help Thomas Cook to reduce its expenses. Theorganization has allotted 20% of its entire operating budget on its marketing activities (Babin &Zikmund, 2015). Strategic marketing plan shall ensure that the organization allocates itsresources appropriately so that the organization is able to reduce its expenses and improve theeffectiveness of its marketing activities. Appropriate strategic marketing plan shall help Thomas Cook to determine severalopportunities. Strategic plan shall help the company to determine several opportunities that areavailable in the travel and tourism industry (Chernev, 2014). SWOT analysis: SWOT analysis refers to the planned analysis wherein the strengths, weaknesses,opportunities and threats of an organization are measured and analyzed. It is necessary toconduct a SWOT analysis before formulating the strategy for an organization. The following isthe SWOT analysis of Thomas Cook, which shall help in understanding the strengths and
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