Marketing Principles Report: Walk-In-Walk-Go Tour Company - UK Context

This report delves into the marketing principles employed by Walk-In-Walk-Go, a UK-based tour company. It begins with an introduction to marketing principles and their application, followed by an examination of the marketing process elements. The report then analyzes the external environment using PESTLE and Porter's Five Forces frameworks, identifies segmentation criteria, and outlines targeting strategies. It explores the impact of different situations on the marketing mix, with a specific focus on appealing to the educational market. The report further develops a walking tour, discussing distribution, pricing, and promotional strategies, including the extended marketing mix. Finally, it presents the marketing mix for different segments and strategies for marketing to travel agents, individuals, and both domestic and international customers. The report concludes by summarizing key findings and recommendations for Walk-In-Walk-Go's marketing efforts.

Marketing
principles

CONTENTS
Introduction.................................................................................................................................................3
Task 1...........................................................................................................................................................3
1.1 Various elements of marketing process.............................................................................................3
1.2 Benefits and costs of marketing orientation ................................................................................4
Task 2...........................................................................................................................................................4
2.1 Detailed analysis of external environment in the context of new establish company such as Walk-
In-Walk-Go .............................................................................................................................................4
2.2 Segmentation criteria for the purpose of targeting market...............................................................5
2.3 Targeting strategy for the launch of new business............................................................................6
2.4 Impact of different situations on marketing mix ...............................................................................6
2.5 Marketing mix of walking tours to appeal to the educational market ..............................................7
Task 3...........................................................................................................................................................7
3.1 Developing a walking tour.................................................................................................................7
3.2 Distribution........................................................................................................................................8
3.3 Pricing ...............................................................................................................................................8
3.4 Promotional strategies......................................................................................................................9
3.5 Extended marketing mix....................................................................................................................9
Task 4.........................................................................................................................................................10
4.1 Marketing mix for different segments.............................................................................................10
4.2 Marketing of walking tour to travel agents and individuals.............................................................10
4.3 Marketing for domestic & international customers or companies..................................................11
Conclusion.................................................................................................................................................12
References.................................................................................................................................................13

INTRODUCTION
Marketing principles includes a range of strategies, rulers, standards and ideas that help
organization to perform their marketing practices in an effective manner in order to promote its
products and services in the market. Marketing principles are considered by most of businesses
for the purpose of enhancing the brand image of its existing products as well as for launching its
new product in a successful manner (Jobber and Ellis-Chadwick, 2012). In accordance to this
aspect the present report is focused on describing the marketing practices adopted by the new
development tour company in UK which is focused on organizing the walking tours of historical
places. Further, this report includes various ways through which company can communicate
properly to customers about the walking tours developed by them. For better understanding of
this report, Walk-In-Walk-Go Tour and Travel Company has been chosen.
TASK 1
1.1 Various elements of marketing process
Walk-In-Walk-Go Company is planning to organize a walking tour of Greenwich that is
one of the popular historical area in South East London. This place is full of historical places,
rivers and several natural views to visit. In order to ensure the development of this walking tour
in an effective manner, company needs to consider the elements of effective marketing process.
These elements are:
 Market audit: It includes the procedure of evaluating the present market condition along
with identifying the needs of customers (Sheth and Sisodia, 2006). With the help of
market audit, management of company can organize its walking tour in more effective
manner by considering the present market condition as well as requirement of customers.
 Environmental analysis: It helps company to understand the factors related to external
environment including social, political, legal, social and economic (Armstrong and et. al.,
2014). By identifying legal and political factor, company can perform its tour operation in
a legal manner as per the regulations and policies of Greenwich government.
 SWOT analysis: This method will assist management to identify the strengths,
weaknesses, opportunities and threats in the respect of Greenwich. These all information
can be communicated to customers in order to enhance their excitement about the place
of Greenwich.

1.2 Benefits and costs of marketing orientation
Main aim of marketing orientation is to deliver quality of products or services to
customers according to their needs as well as demands. In case of walking tour, major need of
customers is to provide them memorable and outstanding experience of site seeing on the behalf
of their efforts in terms of walking. Approach of marketing orientation helps the management of
Walk-In-Walk-Go to understand the demands of customers which eliminates the forecasting
process related to consumer demands and product trends (Cost and benefit of marketing
orientation, 2015). Proper identification of customers demand will assist company to provide
exact services to customers which they want.
Furthermore, marketing orientation is beneficial for company to build customer value
along with enhancing the level of customer’s trust towards its services (Rimal and Creel, 2008).
In the modern era, marketing orientation is one of the effective approaches which is focused on
improving the services of company on the continuous basis by evaluating the needs of service
users in an effective manner. On the other hand, it is expensive for company as it needs an
intense research for identifying the demands of customers as well as market trends.
TASK 2
2.1 Detailed analysis of external environment in the context of new establish company such as
Walk-In-Walk-Go
Pestle analysis
Pestle analysis includes the following factors such as political, economic, social,
technological, legal and environmental. In case of Walk-In-Walk-Go, these external factors are as
follows:
 Political: Inflation is the major factor that leads to decrease the level of sales revenue of
company.
 Economic: Fiscal and monetary policies of UK government put its huge impact on the tax
rate, interest rate and exchange rate that leads to increase and decrease the cost of
company (Cova and Dalli, 2009).
 Social: It includes the factors such as lifestyle, income, social class and religion of
individuals that influence company to provide better service according to those factors.
 Technological: New technology adopted by competitors puts its adverse impact on the

revenue and profitability of company by reducing its number of customers.
 Legal: It includes policies such as labor policies, employment policy and environment
safety policy made by UK government (Kotler, Bowen and Makens, 2006).
 Environmental: Climate change and natural disaster put its impact on the business of
walking tour.
Porter five forces
 Competitive rivalry: Low; because there are very less companies which provides services
related to walking tour.
 Bargaining power of customers: Low; because there are very less alternatives for
customers.
 Bargaining power of suppliers: High; because it is a new established company.
 Threat of new entrants: High; because leading tour companies can also focus on
organizing walking tour for its existing clients (Nagasawa, 2009).
 Threat of substitutes: High, because other tour companies are also focusing on organizing
various types of tours as well as travel facilities.
From the above analysis, it has been concluded that management of Walk-In-Walk-Go needs to
maintain better relationship with government and suppliers because they can affect the business
practices of it. Along with this, it is needed to consider the social factors including lifestyle,
income, social class and religion of individuals at the time of understanding the needs of
customers and rendering services to them.
2.2 Segmentation criteria for the purpose of targeting market
In case of walking tour, age factor is mostly needs to be considered in order to target the
youths who are aged in between 25 to 40. Walking tour of mostly prefer by youth people because
they always needs some excitement in their life (Market segmentation, 2010). Along with this,
middle class and royal class customers can be targeted by the management of Walk-In-Walk-Go
as these types of tours are affordable for both of them.
In accordance to the factor of gender, males need to be targeted mostly because walking tours are
mostly preferred by the group of males for the spending some time with their friends (Gilbert,
2008). At last, company should focus on setting separate tours for separate class on the basis of
pieces.

2.3 Targeting strategy for the launch of new business
As per market segmentation, males and youth people are the main targeted customers of
company as they are mostly preferred the walking tour for getting memorable experience of
historical places and spending best time with their friends and families (Rimal and Creel, 2008).
In order to target youth customers, celebrity endorsement is the best targeting strategy that can be
used by company. Youth people mostly follows celebrities and it is the best way to attract
targeted customers towards walking tour.
In case of male customers, newspaper is the right way to communicate with them
regarding the detailed information of tour (Cova and Dalli, 2009). In the modern era, male
customers are mostly considered newspapers as a source of gaining knowledge instead of
television, radio and other advertisement technique.
2.4 Impact of different situations on marketing mix
Company needs to make their marketing mix strategies by considering different types of
situations that can be related to the budget of company and services provided by major
competitors. By considering the given situations, marketing mix of Walk-In-Walk-Go is as
follows:
 Price: According to the first situation, company needs to set separate tours as per the
income class of customers. Along with this, prices of their tours must be reasonable so
that it can be affordable by all class of customers including middle and royal (Kotler,
Bowen and Makens, 2006). In accordance to the second situation, prices of tours must be
competitive in order to get competitive advantage and satisfy its customers.
 Product: By considering the both situations, high quality of products need to be served by
company in order to enhance the level of customer satisfaction as well as its brand image
in the market.
 Promotion: In case of retired couple, television advertisement is the best way to
communicate them about the services provided by company (Nagasawa, 2009). While,
celebrity endorsement is a better solution to attract more number of customers in order to
beat its competitors.
 Place: According to the first situation, head office of company must be established in the
center of city so that every type of customers can contact easily (Gilbert, 2008). Further,
availability of office in the middle of city is also helpful for company to get competitive

advantage by attracting more number of customers.
2.5 Marketing mix of walking tours to appeal to the educational market
Marketing mix includes mainly four types of factors such as price, product, promotion
and place. Marketing mix of walking tours to appeal to the educational market is as follows:
 Price: In order to conduct business with educational market, piece of tours must be
provided with the availability of very low margin and in affordable prices (Sheth and
Sisodia, 2006).
 Product: High quality products and services must be delivered to students in order make
their tour more memorable and outstanding.
 Promotion: In order to enhance business in educational market, face to face interaction is
can be done by the management of company with the management of schools and
colleges (Rimal and Creel, 2008). Further, detailed information must be provided to then
regarding the tour with the help of emails.
 Place: Location of office must be in the mid of city so that clients can contact easily.
TASK 3
3.1 Developing a walking tour
To sustain in market and to take the advantage of competitors, WALK-IN-WALK-GO
company can categorize their tours in categories such as Cultural & Historic places, Food lovers
and Photo walking tours. Cited company can consider their walking tours in partial-day, full day,
evening pub tour or longer tour in which customers experience the beauty of Greenwich (French,
Dip and Blair-Stevens, 2006).
To sustain in market, company may use two pricing strategy in various type of tours.
Company can charge the competitive prices for all type of tours and they can also introduce the
package schemes. For packages, company may charge the premium prices because they are
offering packages of tours in which customers can take the options like package of historic,
cultural and evening pub tours in 1 week tour etc. To compete the other rivals, company can
provide best services which includes:
 By taking good care of customers.
 Guide can make one-to-one interaction to customers.
 By giving travellers schedule and route map.

 Providing travellers breakfast, lunch and dinner at proper time.
3.2 Distribution
To deal with the place element in relation to walking tours, cited company can establish
their head office in the centre of the city so, that each and every client can contact them easily in
case of any situation. This is because customers are the end user of products and services.
Further, the availability of company's head office in middle of the city also attracts new
customers and through this customers can contact them easily. To attract more customers, cited
company can launch product and service brochure on the websites (Kotler, Bowen and Makens,
2006).
Company can offer discounts and sales options on different packages to gain the attention
of customers. Cited company can also tie up with few hotels, so, if new tourist stay at their hotel
than they can suggest the name of cited company. Company can also establish healthy relations
with guides.
3.3 Pricing
For making decision about pricing of tours, Walk-In-Walk-Go company can acknowledge
few factors like target market, tour duration, long term and short term objectives of company
because pricing strategy identifies the optimum price of the product and services. Prices play an
important role in attracting the customers (7 Principles of Marketing. 2015). For this purpose,
Walk-in-walk-go company can use two types of pricing strategies which are premium pricing
and competitive pricing (Stover, 2007).
Competitive prices are charged for the normal tours which are generally according to medium
class customers and in this tours like one day and half-day tours. With the help of competitive
pricing company can increase their sales and number of customers. If company charges high
prices for the tours than customers can switch to other competitors because same tour services
are available at lower prices in the market.
Premium prices are charged for the special tour packages and high class customers are
considered in this. However, if company charges low prices for the premium tours packages than
high class customers can assume that services and facilities of tours are not good and they can be
switch to another company, so, company have to implement the premium pricing strategies. With
the help of premium pricing the company can attract the attention of high class tourists. It can
further lead to increasing its profits (Ferguson and Hlavinka, 2006).

3.4 Promotional strategies
Product promotion strategies are important process to introduce the company and its tour
services in front of public. This process gives awareness and also attracts the attention of
customers towards the company's walking tour services. Walk-in-walk-go company can use few
promotional strategies to promote their walking tours which are described below:
 Sales promotion- Walk-in-walk-go company can use this promotional activity to
increase their sales in short time period at the time of events and festivals of Greenwich
(Lee and Carter, 2011). For this purpose, cited company can offer some coupon system,
special offers and discount facility on their walking tour services at their physical outlets
(Muhamad, Melewar and Alwi, 2012).
 Advertisement- Advertising is a way of communication which is designed to
communicate with clients to attract them towards the walking tour of Walk-in-walk-go
company. With attractive and successful advertisement activity customers can know
about the company's walking tour services in a positive manner.
 Online marketing- Company can use online marketing at their own online outlets and
they can also attract the customers with the help of videos at different social sites (Hills,
Hultman and Miles, 2008).
3.5 Extended marketing mix
Walk-in-walk-go company can implement extended marketing mix elements in their
walking tours which are discussed below:
 People- Company can hire enthusiastic, well groomed, well-mannered and entertaining
guides & staff people because they introduce the tour services to customers (lankson and
Kalafatis, 2007). So, they are the face of the company.
 Process- Company can make sure that walking tours are running smoothly on their
schedule. All schedules and processes should be managed in effective way. Processes like
avoid the waiting times of customers, booking the tours on time and handling customers’
requirements and complaints.
 Physical evidence- Company can give the physical evidence to customers when they
book their tours (Blythe, 2006). They can improve the infrastructure and internal
environment of company's head office because it can give the positive impact on the
customers perception. With this new customers can attract and walks in.

TASK 4
4.1 Marketing mix for different segments
The increasing demand of walking tours in Greenwich area, the Walk-in-walk-go
company can produce the outline of marketing mix for two different customers which are
described below in tabular form:
Elements of
Marketing Mix
Local people with children Couples on holiday
Product Company can offer Half-day tour for
the local people who are with their
children. In this tour, company can
focus on few places like National
Maritime museum, Pump-house
Educational museum, Thames flood
barrier, The O2 and Eltham Palace
(Principles in Marketing. 2015).
Company can organize One-day tour
for the couples who are visiting
Greenwich on their holidays. For
couples, company can plan the tour
for Greenwich park, Queen's house,
Flamsteed house, Greenwich market,
Eltham Palace and St Katharine's
dock.
Price Company can implement the
competitive strategies prices for this
tour.
In this company may charge the
premium strategies prices.
Place Company's head office is situated in
center of the city.
Company's both physical and online
outlets are available.
Promotion Promotion of walking tours through
sales promotion and advertisement.
In this promotion of walking tours by
online marketing.
4.2 Marketing of walking tour to travel agents and individuals
Walk-in-walk-go company can develop the plans and strategies of marketing for walking
tours to both individuals and travel agents which are described below in tabular form:

Marketing Business to Business Business to Customer
People Travel agents and guides are included
in this category.
Individual customers are included
ion this category.
Product For travel agents number or size of the
tour consignment may be big. The
travel agents focus on the services of
the walking tours (Gnizy and Shoham,
2014).
In this customers are focus on the
visiting places which are included in
their walking tour.
Promotion In this promotion of walking tour can
be done by giving trade discount to
travel agents.
To attract the customers, promotion
of walking tours can be done by
advertisement, online marketing and
offering sale & discounts on tours.
4.3 Marketing for domestic & international customers or companies
The difference between domestic marketing and international marketing is described
below in tabular form:
Basics Domestic Marketing International Marketing
Target
In this marketing, the target customers of
Walk-in-walk-go are physically located
in home country or in domestic market.
The target customers of this
market are located in different
countries or international market.
Risk In Domestic marketing the normal risk is
involved.
High risks of various nature are
involved in this marketing.
Culture
&
If cited company is doing domestic
marketing than they are well known
about the culture and language of home
country.
In international marketing cited
firm can consider the cultures and
languages of different countries.

Languages
Product Mix This is decided by the sales and
customer's satisfaction in domestic
market.(Bowman and Gatignon, 2010)
According to the demand and
sales in foreign market, the
product mix is decided.
Knowledge Knowledge of domestic market is
required.
Knowledge of international
competitors and its market are
required.
CONCLUSION
With the help of this report, it is easy to understand the role of marketing principles
which plays a important role to increase the sales and profitability of the company. The market
strategies like segmentation, targeting and positioning are important activities for the business to
understand the nature of customers and market. With the help of elements of marketing mix
company can gain the attention of customers and also attracts the more customers toward the
company's services and products.