Marketing in Travel & Tourism - Thomas Cook
Added on 2020-07-23
13 Pages4404 Words23 Views
Marketing in Travel andTourism
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 The core concepts of marketing for travel and tourism sector:........................................11.2 The impact of the marketing environment on individual travel and tourism...................31.3 The factors impacting consumer motivation and demand in travel and tourism:............31.4 Principles of market segmentation and its value in marketing planning:.........................4TASK 2............................................................................................................................................52.1 The importance of strategic marketing planning for Thomas cook.................................52.2 The relevance of marketing research and market information to managers in tourismsector:.....................................................................................................................................62.3 The influence of marketing on society.............................................................................7TASK 3............................................................................................................................................8TASK 4............................................................................................................................................84.1The integrated nature and role of the promotional mix.....................................................84.2 Integrated Promotional Campaign....................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing is a very important function in an organisation as it assists it in promoting itsproducts and services in the market. It helps an organisation in increasing its profitability andsales. There are various activities which are undertaken by this function, it includes survey aboutpotential demand and supply, people needs and wants, promotion of products, preparation of newplans, etc. Basically market is all about identification of needs and demands of a targetedconsumer and then formulate strategies to satisfy those desires (Ashworth and Goodall, 2012). Atravel and tourism organisation needs to understand market trends and demand and then offertheir products and services accordingly. For anticipating and determine the level of demand ofproducts depends on organisation marketing function capability. This project is based on Thomascook which is trying to create a summer 2018 holiday package to Morocco and Egypt. In thisproject, the major issues concerning marketing concepts, principles, role, tools, marketing mixand promotional mix will be covered. All problems which are faced by organisation marketingdepartment in understanding and formulating strategies for better promotion of products will alsobe addressed.TASK 11.1 The core concepts of marketing for travel and tourism sector:There are various market concepts which apply to the travel and tourism sector.According to American marketing association, marketing is a concept which describes about theset of activities, institutions and range of process that are meant for communicating, delivery,and exchange of goods that have high value for customer, partnership organisation, clients andsociety (Buhalis and Foerste, 2015). It involves all the decisions which are taken by anorganisation for addressing the market issues as to boost its own sales and profitability. It is veryimportant to understand the marketing concept or principles of market orientation which refers tothe facilitative principles. It concerns itself with customer desires, cross functional coordinationand competitor strategies. The core concept of marketing in relation to travel and tourism is:1
Illustration 1: Varsity Education(Source: )As shown in the image, there are five types of issues which are core concept of the wholemarketing function in Thomas Cook (Buhalis and Foerste, 2013). These principles help thecompany in focusing its activities on the basis of these core concepts so that there is no gap left. Needs, wants and demand: The company tries to know about desires and requirements ofconsumers and to do so, marketing function is implemented. There is brief analysis as towhich destination is preferred and what type of package people are ready to pay for. Products and services: Marketing function analyse the needs and wants of consumer.According to it they prepare a sample package which is used by management for makingactual product.Value, satisfaction and quality: A product have some value for its consumers and that iswhat satisfies him. If a good or service is not at par with customer expectation for qualitythen he will reject (Dasgupta, 2011). These days marketing function has to make sure thatthey are able to understand the vary need and expectation of customer while analysing thecompetitor’s quality standards for providing better products and services. Exchange, transactions and relationship: A product is sold for a price that is whatexchange refers to. When a company provides goods and services to its customer for anamount and he agrees to pay for it that is the time which is known as exchange (Evans,Stonehouse and Campbell, 2012). When product is transferred, it is called as transactionand all these activities take place on the basis of relationship which is built by themarketing department. 2
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