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Marketing in Travel and Tourism of Thomas Cook : Report

   

Added on  2020-01-07

19 Pages4428 Words162 Views
Marketing in Travel and Tourism

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Core concepts of marketing for travel and tourism sector...............................................31.2 Marketing Environment....................................................................................................41.3 Factors affecting consumer motivation and demand........................................................51.4 Principles of market segmentation...................................................................................6TASK 2............................................................................................................................................62.1 Importance of the strategic marketing planning...............................................................62.2 Relevance of marketing research and information...........................................................72.3 Assessing positive and negative influence of marketing..................................................8TASK 3..........................................................................................................................................10Covered in PPT.....................................................................................................................10TASK 4..........................................................................................................................................134.1 Role of promotional mix................................................................................................134.2 Covered in Poster...........................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONTravel and tourism sector has become one of the largest international industries whichhelps in providing the job opportunities and helps in contributing substantially to the economy inthe whole world. Travel company have to use the different promotional methods which helps ininfluencing the decision of the person (McCormick, 2011). Organisations which are related totravel and tourism sector have to understand the demand and needs of the consumers so that theycan provide appropriate services. The staff members have to classify the consumers according tothe status, lifestyle along with the family circumstances etc. The present report is based onThomas Cook which is a British global travel company and it is listed on London StockExchange. Thomas Cook’s vision is to deliver trusted, personalised holiday experiences throughour high-tech, high-touch strategy. We will be there for our customers wherever, whenever andhowever they want to connect with us. The present assignment focuses on the core concept ofmarketing in travel and tourism. Further, it also emphasizes on the consumer motivation as wellas demand of the product in the industry has to be discussed (Su and et.al., 2013). TASK 11.1 Core concepts of marketing for travel and tourism sectorMarketing is the activity and set of institutions along with the process for creating,communicating as well as delivering that have a value for consumers, clients along with thepartners (Biggs, 2011). Marketing in travel and tourism sector is the important and essentialfactor in making the travel business successful in terms of market share. Customer needs: The company members have to provide the best services to the consumers andthese services are helps in satisfying the consumers as well as helps in fulfilling the needs and bythat Thomas Cook can attain the maximum success along with the profitability. Marketing helpsThomas Cook to make the consumer aware of the products and services (Lew, 2014). Marketingis made up of all the processes which involved in getting the products into the consumer’s hands.It helps in ensuring the needs and the marketing strategies ate well suited. Product and service markets: The company have to provide the best services to the consumerswhich helps in attaining the targets. They have to make the product according to the needs andwants which provides the satisfaction to the consumers (West, 2010).

Customer’s satisfaction and retention: By providing the qualitative product the consumer cansatisfy the needs and wants. The employees of the business entity have to make the effectivedecisions which helps in maintaining the quality as well as value of the merchandise. Along withthis they have to do the effective communication which helps in attaining the targets. If thecompany providing best services, then this helps in retaining the consumers which helps inattaining the leading position in the market. Relationship marketing: The company members have to maintain the relationship so that theemployees of Thomas Cook can do effective marketing which helps in obtaining the targets(Dawson and et. al., 2010). 1.2 Marketing EnvironmentMarketing environment is a combination of the internal as well as external factors whichsurround the organisation. Along with this all the factors whether it is internal or external havingthe influence on the environment. Further, the company members having the ability to build andmaintain the successful relationships with the target consumers (MARKETING RESOURCES,2017).Micro environment analysis – It refers to the forces which influence the company and directlyaffect the relationship of the organisation. The factors which are include the company and itscurrent employees, its suppliers, marketing intermediaries consumers and the general public. Strength’s: Thomas Cook having a rich product portfolio which includes the flights, financialservices as well as the travel agencies among the others (Shinde, 2010). Weakness: The market environment is not stable and the dynamic nature of the financial marketmake the fluctuation in the exchange rate which causes loss. Opportunities: There is Increasing demand for travel and tourism in the whole world.Threats: The company having the low profitability and does not focusing on optimising thestrength (Biggs and et.al., 2012). Macro environment analysisPolitical: the company members have to do the proper political analysis which helps in attainingthe goals and objectives. Along with this these policies is given by the regulatory bodies andcompany have to use these which helps reaping the success.Economic:The company members have to use this so that they can find the economic conditionin the market (Lovelock and et.al., 2010).

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