Promotion Mix of Thomas Cook | Report
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Added on 2020-02-03
Promotion Mix of Thomas Cook | Report
Added on 2020-02-03
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MARKETING IN TRAVEL ANDTOURISM SECTOR
TABLE OF CONTENTSINRODUCTION..............................................................................................................................3TASK 1............................................................................................................................................31.1 Core concept of marketing for travel and tourism sector......................................................31.2 Impact of marketing environment on individual travel and tourism business and touristdestinations .................................................................................................................................41.3 Factors affecting customer motivation and demand in the travel and tourism sector...........51.4 Principe's of market segmentation and its uses in the market planning................................6TASK 2............................................................................................................................................62.1 Importance of strategic marketing planning ........................................................................62.2 Relevance of market research and market information to the managers in travel andtourism sector .............................................................................................................................72.3 Influence of marketing on society.........................................................................................7TASK 3............................................................................................................................................83.1 Key issues of the different elements of the marketing mix...................................................83.2 Assessment of the importance of service sector mix elements to the travel sector..............93.3 The concept of the total tourism product to an individual tourism business......................10TASK 4..........................................................................................................................................104.1 Integrated nature and role of promotion mix......................................................................104.2 Integrated promotion plan for business organization and industry.....................................11CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................13
INRODUCTIONThomas cook it the world largest travel and tourism agency that have presence across theglobe. Marketing is an important part of the company management practices and by using samefirms earns a lot of revenue. Marketing activities involves performing practices related to themarket segmentation and sources of promotion. In the report, detail information is providedabout the core concepts of marketing. After that business environment and its impact on the firmis also discussed in detail in the report. Apart from this, importance of the strategic marketingplanning is also discussed in the report. In relation to this process of strategic planning is alsodescribed in detail. At the end of the report, promotion mix is explained and same for theThomas cook is described in detail.TASK 11.1 Core concept of marketing for travel and tourism sectorAccording to Evans, Stonehouse and Campbell, (2012), Marketing can be defined as theprocess of interacting and communicating with the customers with regard to products andservices. Core concepts of marketing are needs, wants and demands. Apart from this value,customer satisfaction and the exchange process is another core concept of marketing. Firm needsto perform well in all these areas. This is because success of marketing efforts is totallydependent on these factors. Firm needs to make sure that its products are satisfying needs of thecustomers. In this regard Thomas cook needs to prepare its product by keeping in mind factorsthat affects people tour package selection decisions. While preparing a tour package firm alsoneed to focus on needs and demands of the people regarding tour packages. Needs of the peoplemay be to visit maximum tourist places at reasonable price. Hence, in such kind of cases Thomascook requires to identify the way by adopting which it can satisfy needs of the customers. Valuerefers to the product capacity to satisfy needs of the customers (Morgan and Ranchhod, 2010). Ifthe value of the Thomas cooks product will be good then more and more people will be attractedtowards the firm services. In travel and tourism business there are numerous firms and it isnecessary to make sure that firm product will have good value proposition or USP. For thisThomas cook can evaluate its product portfolio and can compare same with the competitors’products. By doing this it will be able to identify the loopholes that remain in its product and ontime it will be in position to make prudent steps to alter its product portfolio. The last but core
concept of marketing is exchange. This concept states that both parties must have something thatthey can give to others. Means that Thomas cook must not target all sort of people in itsadvertisement program for advertisement. If it will do so then it will be able to draw attention ofthe specific category of the people towards it s services and will also be able to create its distinctimage among the people (Moutinho, 2011). Thus, it can be said that firm need to apply all thesecore concepts of marketing in proper manner in its business.1.2 Impact of marketing environment on individual travel and tourism business and touristdestinations According to (Dolnicar, 2005), micro environment consists of factors in the company’simmediate areas of operations which affect the performance and decision making. According to (Middleton, Fyall, Morgan and Ranchhod, 2009), macro environmentconsists of major external and uncontrollable factors which have an influence on the company’sdecision making. Following are the impacts of marketing environment of travel and tourism business ofUK.Micro environmentSuppliers- These are those who act as intermediary between Thomas cook and generalpublic. Through agents people approach company for a specific destination tour. Thisindicates that firm is heavily dependent on the suppliers for sale of its tour packages. So,firm needs to maintain good relations with its suppliers in order to grow its businesscontinuous.Competitors- These are those who are challenging Thomas cook business in terms ofrevenue and business growth. Firm need to monitor is competitors’ strategy every time inorder to bring itself in position to make changes in its strategy (Hall, Timothy and Duval,2012). Hence, it can be said that this micro factor will play a decisive role in the companysuccess in the upcoming time period.Macro environmentEconomic environment- Economic environment refers to the economic condition of aneconomy in terms of GDP and inflation rate etc. Travel and tourism sector cover 10% ofthe UK GDP and its economy are recovering from recession. Thus, in future travel andtourism sector will certainly grow in the UK. So, it can be said that economic
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