Tourism Entrepreneurship and Strategic Management

This assignment delves into the crucial intersection of tourism entrepreneurship and strategic management. Students are tasked with analyzing various aspects of this field, including the role of innovation in driving competitive advantage within the tourism industry. The analysis also encompasses the challenges faced by tourism entrepreneurs, particularly in developing countries. Drawing upon relevant academic literature and online resources, students will examine successful examples of tourism businesses and discuss their strategies for growth and sustainability.

Marketing In Travel And
Tourism

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Core idea of marketing for touristy sector........................................................................1
1.2 Influence of merchandising surrounding on individualist travel and tourism businesses2
1.3 Factors which influence consumer motivation and demand in tourism sector................3
1.4 Values of merchandising segmentation and its utilization in marketing designing.........4
TASK 2............................................................................................................................................5
2.1 Importance of strategic merchandising planning.............................................................5
2.2 Relevancy of marketing investigation and industry data to decision makers..................6
2.3 Impact of merchandising on society.................................................................................7
TASK 3............................................................................................................................................7
TASK 4............................................................................................................................................8
4.1 Integrated nature and duty of encouragement mix...........................................................8
4.2...........................................................................................................................................8
Covered in Poster...................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Tourism sector has become one of the largest industries which contributing is
substantially to the world’s economy by offering maximum number of job opportunities. In fact,
companies engaged in travelling sector are using various promotional techniques for influencing
the decision of individuals. Therefore, they need to understand the demand and needs of different
customers for providing best services (Biggs, 2011). Managers of an enterprise classified their
consumers according to their status, lifestyle as well as family background. Basically, this report
is all about Thomas Cook which is a British multinational tourism organization that is listed on
London Stock Exchange. Long term vision of Thomas Cook is to gain trust of customers by
offering the best services with impressive arrangements for establishing goodwill of company in
the marketplace. In the present report, core idea of merchandising in tourism is discussed. Along
with this, report also emphasizes on the cluster of marketing elements as well as on factors which
play an eminent role in the industry by satisfying customer demands. At last, the relevancy of
investigation programmes and gathered information which influence whole society are also
highlighted.
TASK 1
1.1 Core idea of marketing for touristy sector
Advertisement is an effective method of promoting product at a marketplace across
national boundaries with the help of various techniques for capturing the attention of domestic as
well as foreign products. Promoting in travel and tourism segment is the critical or basic factor in
making the travel business effective as far as piece of the overall industry (Biggs, Hall and
Stoeckl, 2012).
Client needs: Managers of an organization need to serve best administrations to buyers
by fulfilling their needs and requirement which will support Thomas Cook in achieving their set
targets. Promotion is comprised of the considerable number of procedures which are associated
with getting items into buyer's hands.
Product and service markets: The organization needs to give the best administration to
the purchasers which helps in accomplishing the objectives. They need to make the item as per
the requirements and needs of target consumers.
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Consumer loyalty and maintenance: By offering best products an organization can
easily fulfil basic needs of different customers. Therefore workers of business entity trying to
maintain the quality of product and trying to deliver goods and services on time. Along with this
they are creating a positive relations between higher authority and lower level which helps in
achieving their objectives. If an organization is providing best administrations, then they can
easily establish their goodwill at a marketplace (Butler and Russell, 2010).
Relationship advertising: Members of organization need to create a connection so that
representatives of Thomas Cook may perform powerful showcasing which supports in acquiring
their goals and objectives.
Apart from this, as per concept of marketing, there are some aspect which is mentioned
as beneath:
 Selling concept
 Production concept
 Social marketing concept
 Product concept
 Marketing concept
Thomas cooks is giving their administrations as per above discussed components.
Therefore, they can easily expand their company across the world. For this purpose, many
strategies are formulating by them. As a result, they can easily increase quality of their item. By
using many social sites they can do marketing of their services in an effective manner. They are
doing their work in creative way; therefore, they can pull numerous clients towards them, which
aid them to improve their profits.
1.2 Influence of merchandising surrounding on individualist travel and tourism businesses
Marketing environment is consider as a communal platform for interacting about
essential features of merchandising activities which are linked with operational function of
business. Therefore it includes all the elements related to enterprises as well as but external
factors which have greater impact on overall development of Thomas cook.
In fact Thomas cook is a London based tourism industry which work as a subsidiary of
TUI Travel plc. Basically this organization is having its branches in number of countries at
international level for providing best services to millions of foreign tourist. Therefore due to
emergence of several number of competitors an enterprise trying to monitored the fluctuations at
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a marketplace. Thus reformation in marketing environment has enforce an organization to
reshape their marketing activities at a larger extent. In additional during modification of any
current product and introduction of new services or product Thomas cook need to make an
appropriate marketing strategy by analysing internal and external environment. Due to
occurrence of debt crisis and increase in economic barriers it is not easy to raise fresh capital for
expanding business operation at international level.
The strategic and marketing machinery of Thomas cook of trying to make an appropriate
and effective strategy for monitoring different types of merchandising environment is described
as follows:-
Macro environment: Selected organization have a greatly influenced by changes in
external elements which means if there is any reform in economy of a nation, political scenario,
as well as social scenarios then it automatically affect marketing activities of an organization.
Micro environment: It consist of various elements related to internal factors for example
customers, suppliers, employees etc. Therefore it has been understood that decisions taken by
higher authority have a greater impact on business approaches. Apart from this goodwill of a
company impacted by internal factors.
Market environment: Last component affects overall business operation of Thomas
cook. Third parties of merchandising surrounding consist of suppliers, customers, stakeholders.
1.3 Factors which influence consumer motivation and demand in tourism sector
Customers are the end users of products and services but there are number of factors
available which affect the customer decision making process and they get motivated towards
travelling which resulted in maximization of demand (Denicolai, Cioccarelli and Zucchella,
2010). Therefore, various factors are mentioned as below:-
Role of customer- Consumers support in taking an effective decisions as well as
performing activities which help in fulfilling needs and wants. It means increases in service users
of Thomas Cook is a key to success by providing qualitative services so that consumers get
attracted towards services of selected enterprise which resulted in maximization in demand as
well as attain maximum profit.
Countries Culture- Culture of the nation is an effective factor which influences the
demand and encouragement of consumers. Basically, culture is a term which highlight norms,
beliefs, rules and regulations of a country on which whole industry depends while running their
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business (Evans, Stonehouse and Campbell, 2012). In fact, it also aides in analysing the growing
kinship between touristy and culture. Apart from this, it supports in maximizing the competition.
Customer orientation- Managers of Thomas Cook need to adopt or use proper and
advanced technology for creating an effective communication while providing services to their
consumers which help in establishing a mutual understanding with customers. In additional, they
also adopt advanced technology for attaining their set goals which supports in establishing their
goodwill at a marketplace.
Value and satisfaction- Lastly, managers of an organization need to conduct proper
investigation which aid an enterprise to uplift their business in travel and tourism sector. In
addition, appropriate research programmes are also helpful in assessing the connection between
value, gratification and behavioural aim in travelling sector. Risky tourist are more rigorous
regarding their comfort as they want to travel across the national boundaries (Hallak, Brown and
Lindsay, 2012).
Instead of this, there are various factors which can affect consumer motivation and
demand, which are stated as beneath:
 If price of services are high then people can go switch to other company which is
providing their products and services at reasonable prices.
 Preferences of people can influence their choices and they get attracted towards those
things which are as per their tastes.
 There are some additional factors, which can also affect their choices, such as economical
condition, political condition and many more.
1.4 Values of merchandising segmentation and its utilization in marketing designing
There are numerous types of individuals present who are responsible for making an
effective plan by classifying market on the basis of consumers’ needs and wants. Market
segmentation is an appropriate process of subdividing existing market based similarities,
differences and connection with different group of consumers. In fact, first and the foremost
motive of market segmentation is to distribute products by considering relevant factors for
maximizing the profit of an enterprise. Therefore, market segmentation is classified into various
parts which are described as follows:-
Geographical segmentation: - Initially Thomas Cook divides their market in various
geographical areas for example community based, society or different arenas and also supports in
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providing essential resources to various geographical regions. Thus, it is an appropriate method
for enterprise for attaining success in the competitive market (Hjalager, 2010).
Psycho-graphic segmentation: - According to this, segmentation is based on lifestyle
which highlights the mental attitude, belief, notion, taste and emotions of specific users for
dividing the market. In fact, it is similar as behavioural partition but at the same time, it considers
mental aspects of customer purchasing nature. Basically, these factors are intangible in nature
which requires in-depth research for identifying which lifestyle and social status they have to
target.
Demographic segmentation: - According to this segmentation is conducted on the basis
of sex, financial gain, social group status and education level. Along with this, Thomas cook
distribute their services according to customer requirements by considering relevant facts and
figures.
Apart from these, there are various methods available which are utilized in market
segmentation. They are either qualitative or quantitative. On contrary to this, Thomas Cook is
having few changeable factors within travel and tourism sector that are based on actions and
attitude. Therefore, selected business entity needs to allocate limited resources on the basis need
and requirements of different market so that they can perform their job role without facing any
osbtrcles. Thus, all these allocation is done with the help of an effective process which is known
as a targeting. Market segments is an effective method of establishing a leading position at a
marketplace by satisfying needs and demands of different tourist (Jaafar and et. al., 2011).
TASK 2
2.1 Importance of strategic merchandising planning
Strategic marketing planning is very much indispensable for Thomas cook as it helps in
generating maximum revenue by considering relevant facts and figures. In fact promotion of any
product is not an easy task which requires proper implementation of whole programmes with the
help of essential resources. Therefore impressive planning for marketing activities is conducted
with the help of effective strategy making cycle which is described as follows :-
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(Source :- Strategic planning cycle, 2017)
It has been understood that making impressive schemes is very much indispensable for
attaining goals and objectives of an enterprise in a given time frame. Thus importance of
strategic marketing planning is mentioned below :-
 Product development:- One of a major reason behind planning process is to improve the
quality of products and services of current as well as upcoming products by considering
recent trends and taste of overall society.
 Eliminate barriers :- Another reason which show that planning is mandatory is that it
supports in removing obstacles which creates a major problem during success path of an
enterprise.
2.2 Relevancy of marketing investigation and industry data to decision makers
In travel and tourism industry investigation process is very much essential because it is
helpful in decision making process as well as help in understanding the taste and preferences of
different tourist. Promotional research is useful in acquiring relevant information about current
marketplace which supports during producing new product for whole society. Data which is
acquired by organization is very much appropriate in giving best administrations to different
purchasers.
Managers of Thomas Cook conduct market research for number of reasons which is
describes as follows :-
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Illustration 1: Strategic planning cycle

 Acquiring relevant data and messages for effective decision making process.
 For modifying their existing strategy for attaining desired goals.
 For enhancing their learning.
 Understanding the strategy of their competitors as well as to get aware about available
close substitutes at marketplace.
Thomas Cook need to assess the contenders for getting aware about their strategy.
They can do merger, establishment and procurement in Morocco and Egypt. Alongside
this they utilize information of statistical surveying during the time spent STP of the
brands. The advertising data helps in understanding market, characterize it and measure
its phase of development.
2.3 Impact of merchandising on society
Numerous affects of merchandising on gatherings which is highly useful in maximizing
the profit by playing an indispensable role in an enterprise. Marketing is useful for Thomas Cook
in protecting consumers by having strict rules and regulations by governing bodies on products
and services (Lew, 2014). It helps in the user security. Along with this, merchandising maximize
the societal obligation of enterprise and according to that, society acquires welfare from
organisation. It supports workers in making effective decision for achieving success. Marketers
may conduct effective interaction for sharing relevant ideas with governing bodies for attaining
benefits in high competition. Merchandising of Thomas Cook also succours in increasing the
awareness in markets of social group by adopting effective policies.
TASK 3
Covered in PPT
TASK 4
4.1 Integrated nature and duty of encouragement mix
Promotional mix is a term that consists of combination of various methods of promoting
products in marketplace by conducting effective communication for reaping the targets easily
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(Lovelock and Normann, 2010). Therefore, promotional mix consists of several components
which are described as follows:-
Advertising: - It is a term which helps the organization in promoting new ideas in front of
different customers with the help of various channels for example internet and social media.
Personal selling: - According to this method, sales increase by door to door policy
through showing samples among others.
Sales Promotion: - Covers media as well as on-media marketing channels for
maximizing demand by improving the position of a product at marketplace.
Public relations: - Distribution of products and services by showing real information
with the help of media for maintaining a positive relations with whole society (Marchant and
Mottiar, 2011).
Promotional mix is an appropriate method of maximizing sales of a product at a
marketplace by directly interacting with consumers with the use advanced technology for
example electronic messaging, internet sites, electronic mail etc. which supports Thomas cook in
attaining target of marketing.
4.2
Covered in Poster
CONCLUSION
As per above mentioned report, it has been concluded that merchandising plays an
eminent role in attaining goals and objectives in travel and tourism firms by expanding their
business across national boundaries. All necessary techniques and tools used by Thomas Cook
for promoting their business at international level are detailed in this report. This assignment is
all about various techniques of promoting goods and services at international level with the use
of research programmes. Apart from this, it also throw some lights on eminent role of
promotional mix which consist of all the P's.
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REFERENCES
Books and Journals
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Croce, E. and Perri, G., 2010. Food and wine tourism: Integrating food, travel and territory.
Cabi.
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Journal of Sustainable Tourism. 18(3). pp.319-336.
Denicolai, S., Cioccarelli, G. and Zucchella, A., 2010. Resource-based local development and
networked core-competencies for tourism excellence. Tourism management. 31(2).
pp.260-266.
Evans, N., Stonehouse, G. and Campbell, D., 2012. Strategic management for travel and
tourism. Taylor & Francis.
Hallak, R., Brown, G. and Lindsay, N. J., 2012. The Place Identity–Performance relationship
among tourism entrepreneurs: A structural equation modelling analysis. Tourism
Management. 33(1). pp.143-154.
Hjalager, A. M., 2010. A review of innovation research in tourism. Tourism management. 31(1).
pp.1-12.
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countries. International Journal of Hospitality Management. 30(4). pp.827-835.
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travel and tourism competitiveness index (2007). Journal of Hospitality Marketing &
Management. 19(3). pp.203-216.
Komppula, R. and Gartner, W. C., 2013. Hunting as a travel experience: An auto-ethnographic
study of hunting tourism in Finland and the USA. Tourism Management. 35. pp.168-180.
Komppula, R., 2014. The role of individual entrepreneurs in the development of competitiveness
for a rural tourism destination–A case study. Tourism Management. 40. pp.361-371.
Lew, A. A., 2014. Scale, change and resilience in community tourism planning. Tourism
Geographies. 16(1). pp.14-22.
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Lovelock, B., Lovelock, K. and Normann, Ø., 2010. The big catch: negotiating the transition
from commercial fisher to tourism entrepreneur in island environments. Asia Pacific
Journal of Tourism Research. 15(3). pp.267-283.
Marchant, B. and Mottiar, Z., 2011. Understanding lifestyle entrepreneurs and digging beneath
the issue of profits: Profiling surf tourism lifestyle entrepreneurs in Ireland. Tourism
Planning & Development. 8(2). pp.171-183.
Online
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operator-business>. [Accessed on 17th August 2017].
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