Marketing Plan Analysis: The World Residences and Sea Cruise Report

This report presents a comprehensive marketing plan analysis for 'The World Residences and Sea,' the world's only private residential cruise. It begins with an introduction to the cruise, its unique features, and the issues it faces. The report then delves into the marketing logic, emphasizing customer value creation through STP analysis, including segmentation, targeting, and positioning. A detailed value proposition is provided, highlighting the cruise's luxurious offerings. The SWOT/TOWS analysis identifies strengths, weaknesses, opportunities, and threats, informing the development of effective marketing strategies. The report explores various marketing strategies, including differentiation and focus strategies. Finally, it outlines a detailed marketing mix, including product, price, place, promotion, people, process, and physical evidence, providing recommendations for enhancing the cruise's market position and customer satisfaction. The analysis is based on the student's assignment, which includes an executive summary, table of contents, and references.

Running head: MARKETING PLAN
MARKETING PLAN
Name of the Student
Name of the University
Author note

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Table of Contents
Introduction................................................................................................................................3
Issues faced by “The World residences and sea”.......................................................................3
Marketing logic to create customer value..............................................................................3
STP analysis of “The World residences and sea”......................................................................4
Segmentation..........................................................................................................................4
Target market.........................................................................................................................4
Positioning..............................................................................................................................5
Value proposition of “The World residences and sea”..............................................................5
SWOT/TOWS analysis..............................................................................................................6
Marketing strategies of “The World residences and sea”..........................................................7
Marketing mix for “The World residences and sea”..................................................................8
Product...................................................................................................................................8
Price........................................................................................................................................9
Place.....................................................................................................................................10
Promotions...........................................................................................................................11
People...................................................................................................................................12
Process..................................................................................................................................12
Physical evidence.................................................................................................................13
Conclusion................................................................................................................................13
References................................................................................................................................14

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Introduction
The only private residential cruiser in the world that is the most massively cloistered
on earth is “The World residences and sea” (Verksteder, 2020). It provdes an international
community of residents & guests who spend extensive tie exploring the most exotic
destinations of the world and return onboard. This cruise was first built by Forsen Mek.
Verksteder and was designed by Knut U. Kloster. The cruise was launched in Oslo, Norway
in the year 2002 and the cruise is known for giving a feel of Titanic of the 21st century
(Verksteder, 2020). The cruise consists of 165 all total residents and is one of the world’s
largest vessel that has visited almost 1213 ports and have travelled across 6,41,000 nautical
miles (Verksteder, 2020). This report will discuss about the marketing plan of “The World
residences and sea” and will recommend appropriate marketing mix required after observing
the SWOT analysis summary.
Issues faced by “The World residences and sea”
The main issue faced by the company is attracting the younger generation as there is
very less time for this generation to plan for long holidays. Therefore, some innovativeness
and flexibility with the services and the products needs to be made by “The World residences
and sea” to have that edge over the competitors. There is yet another issue that includes the
availability of the skilled crew for the development of port infrastructure meeting the
requirements of the environment.
Marketing logic to create customer value
The business environment is getting highly competitive therefore there is a need to
focus on the needs and wants of the customers (Verksteder, 2020). This will help the
company in having an edge over the other competitors that are existing in the market. If the
customers are satisfied then they are more likely to repeat. A customer-driven strategy would

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in identifying the needs of the customers by identifying the market that needs to be targeted.
Therefore, it must be kept in mind that the company that is taken is customer-centric.
The four processes that needs to be executed in the marketing logic of “The World
residences and sea” in order to create customer values includes segmentation of the market,
targeting the market, differentiation and positioning (Papathanassis, 2017).
STP analysis of “The World residences and sea”
Segmentation
The segmentation of “The World residences and sea” is done on the basis of the
demographics mostly (Verksteder, 2020). The factor of consideration taken for segmenting
by the company is based on the price sensitivity of the customers. It has been observed by the
company that there are three segments of the price sensitivity among the customers namely
sensitive, moderately sensitive and highly sensitive. The people who are ready to pay about a
good sum of money are mostly attracted towards the company and they are the one who
avails the service from “The World residences and sea” cruise.
Target market
“The World residences and sea” targets the premium wealthy people around the
world. The type of people who are ready to pay about $900000 at any point and have assets
that worth around $10 million are more likely to avail the service of “The World residences
and sea”. buyers who are ready to pay $900000 at any point and holds an asset of around $10
million minimum. The buyers and owners are minimal regarding this property also the people
who are aged around 55years to 65 years old mostly avail this residence. In such a feature,
etiquette is everything (Chin, 2016). Targeting these set of customers helps the company to
have an analysis of the potential growth and size of each group of customers.

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Positioning
“The World residences and sea” must always be informed about the position of the
company in the industry. Positioning of the offerings made by the company for the customers
is very important as this helps in selecting the type of marketing mix best suited for the
company to be in profits (Perry & Weber, 2015). A value proposition of the company will
help in understanding and explaining the requirements better than that of the customers and
accordingly develop a campaign for marketing that would be appreciated by the customers
and present the value proposition in a correct manner.
Value proposition of “The World residences and sea”
Value proposition can be defined as the innovation made by a company to attract its
customer base. Value proposition of any organization helps in improving the understanding
and engagement of the customers and helps the customer to understand the value provided by
the organizations to them (Verksteder, 2020).
This gives a clear vision of the services and benefit provided by the companies to
their customers which value for money. When value proposition is clear to customers it helps
the potential customers to easily understand the offers presented to them by the company and
they become attracted in using the service offered (Strazza et al., 2015). The value
propositions offered by “The World residences and sea” includes 165 residents that starts
from a single bedroom to a very spacious three-bedroom apartment; the single bedrooms
being the one that is cozy. There is also an availability of rooms that has three bathroom
facility inbuilt which is along the six-bedroom penthouse of the cruise with highest
availability of luxuries.
The interior design of the cruise is extraordinary being on next level with innovation
and a lot of creativity endured in it. The designs have noticeable efforts and one could judge

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the amount of hard work and efforts associated with these designs. Separate area for
entertainment with a swimming pool alongside make this cruise even more beautiful and
innovative. There is a presence of dancing area and fresco dining available for the customers
as the exterior of the ship is retractable. A fantastic quantum bar makes it more special for the
customers as they feel value for money after availing this service on the cruise and a full-
sized tennis court and a pilate studio makes the cruise complete (Verksteder, 2020).
SWOT/TOWS analysis
The strategic tool used by “The World residences and sea” in identifying and
analyzing the situation of the firm is through SWOT analysis. This tool helps the organization
to understand its strengths and weaknesses that are present in the internal environment of the
organization and the opportunities and threats that are externally present.
After doing the SWOT analysis for “The World residences and sea” it was observed
that the company must make itself accessible by a comparatively larger crowd that would
help in making the accessibility even and the company could likewise be in profits for long
(Mileski, Wang & Beacham IV, 2014). Besides, the company must upgrade its facilities that
would help in maintaining a stable position in the market (Kang et al., 2016). New
innovations must be done with the services that would help in acquisition of new customers
and retain the older ones to maintain its edge in the competitive market.
After doing the SWOT analysis, it was also found that the position of the “The World
residences and sea” in the market is concrete but it may also get effected by the giant
competitors who are already present in the market (Heuer, 2014). Therefore, an up gradation
in the services or some innovativeness must be implied by the company that would help in
maintaining this concrete position throughout and likewise “The World residences and sea”
could earn more profits (Gibson & Perkins, 2015). This innovation strategy is important as

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similar cruises with better products and services are entering the market posing a potential
threat to “The World residences and sea”.
Marketing strategies of “The World residences and sea”
There are several strategies that can be adapted by the company to have an edge over
its competitors. Some of the strategies includes the differentiation and the focus strategy.
Differentiation strategy developed by the company would help in distinguishing services
from the same or similar type of product that is offered by other competitors in the market
(Gibson & Parkman, 2018). Therefore, some innovation in terms of the feature or quality of
the product must be made that would help the company to be in profits. Differentiation can
also be in terms of price and the ways for adding extra profits will only be possible by
making different charges for different services offered (Dawson, Johnston & Stewart, 2014).
Product versioning and channel pricing can also be implemented by “The World residences
and sea” to have a better scenario of the profits. Besides, the company must change and have
different marketing strategies for different market, this would help in maintaining the
required edge in the market.
The company “The World residences and sea” operates in a niche market hence it
becomes very essential for the company to develop focus strategies that would help in
identifying the customer segment in a more better manner and the entry in the niche market
would be comparatively easier for the company (Cashman, 2017). Therefore, an attention
must be drawn in improving the quality of service provided to the customers with a focus
offering made for the customers to avail these cruising experiences (Carić & Mackelworth,
2014). Optimizing the price of the tickets and innovations in service by “The World
residences and sea” could help in acquisition of more customers and retaining of the existing
(Brida et al, 2014).

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Marketing mix for “The World residences and sea”
Based on the SWOT analysis done above, following marketing mix strategies could
be developed by the company that would help in determining the stability of the service
provided by “The World residences and sea” for a specific base of consumers that is targeted
(Vogel, Papathanassis & Wolber, 2012).
Product
“The World residences and sea” is able to sell its one major category product under
the same brand serving differentiated products than its competitors. The product sold by “The
World residences and sea” is highly differentiated in terms of the features that is offered to
the customers of the company. Each product being completely different and unique from the
competitors. The perceived quality of the products are much better and of higher quality than
that of the competitors. Therefore, people are ready to pay around $90000 for the services
and the products offered by this particular cruise. The interior and the exterior design of the
cruise makes it unique and completely different from the competitors and the company is
famous for using this traditional design practically usable by the customers (Satit et al.,
2012).
Recommendations
“The World residences and sea” must focus on delivering additional extended benefits
that may include self-insurance, helpline services, availability 24*7 and others as having
these additional benefits will make the customers feel the services worth or value for money.
The company must now focus on introducing new product line for the customers as doing
this will help customers to choose the best fit service according to them and they will feel
more satisfied (Li & Petrick, 2008). The products that will be introduced as new services
must go in the test market become making it commercial. The product portfolio must be

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widened in order to offer new lines of services to the customers as this would help in
fulfilling the needs of the customers and a better customer satisfaction would be observed.
Price
The pricing strategy inherited by “The World residences and sea” is based on the
competitive pricing and this is really important for the company because there are several
competitors in the market providing the same service within this particular industry. “The
World residences and sea” has kept its price very high and the company mostly aim at the
premium wealthy class of the society than that of the market competition. The price is made
hgh because of the availability of the more features to the customers availing the service of
“The World residences and sea”. All the prices that are required to pay by the customers are
fixed by the company due to the premium services provided by them (Gulliksen, 2008).
Recommendations
There must be some discounts as well as allowances that needs to be introduced by
“The World residences and sea” as this will help the company in acquiring more customer of
the same segment and target group. This could also help the company in increasing the
market share of the company by making a reduction in certain percentages of the price
offered. Besides, physiological pricing strategy must be adapted by the company where
people would feel $89999 is lesser than $90000 and this strategy impacts the buying behavior
of the customers in many ways making it profitable for the company and generating revenue.
This would help in flocking in of more new customers of the same segment served. An
introduction of new product from the company’s end with price penetration strategy can be
developed by keeping the initial price of the product comparatively lower than that of the
customers. This would help in gaining popularity for the brand and a high market share for
the company.

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Place
“The World residences and sea” sells its services through a single marketing channel
and the services are directly sold through the customers by the portal on the website. Using
this portl the customers can customize the available pack according to them and their choice.
Therefore it follows an extensive marketing strategy as the medium or the channel of
marketing is very few. However, using this strategy also the comapy is able to rach to its
customers in quite an efficient way as the service deals with premium luxury. “The World
residences and sea” is able to have an Omni-channel distribution where it has an online
integration to allow easy access and convenience for the customers (Kwortnik & Rand,
2012). The relationship with the suppliers of the raw material for the building of the ship is
close and strong and the company needs to develop more innovations in the services that
would help in attracting customers and increasing footfall.
Recommendations
“The World residences and sea” must now use social media marketing or the digital
platform for reaching the masses at the same time. This would help in covering a large mass
of people of the same segment as the segment targets the baby boomers of the society and it
is found that most of the baby boomers use social media than that of the millennials.
Therefore, it could help the company in having a great advantage over others. This would
also help in generating more sales for the company and draw in more profits (Papatheodorou,
2006).
The social media page of the company and the online website must be integrated as it
would help the users to have a better navigation and will make it convenient as they do not
have to open two simultaneous tabs for the same company. Besides “The World residences
and sea” must check and upgrade the online website very frequently as this is the only mode

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of communication with the present customers. A physical outlet owned by “The World
residences and sea” could help in better communication and this will also avoid
misunderstanding as there will be a support associate present every time for helping the
customers whenever they need help (Dickinson & Vladimir, 1996).
Promotions
The promotional channel used by the company must be multi-channels of media that
includes advertisements on televisions the traditional way of advertising. This has proved to
be beneficial for the company as it reaches to mass and has the ability of attracting more
number of customers. Trade exhibitions for the company has proved to be beneficial as the
company undergoes various sales promotion through this every year. The social media
platforms like Facebook, Twitter and others must be focused as the usage of these social
media is the highest by the people and this platform would help in conveying the message
and the related offering easily to everyone. The content uploaded by the company would help
in exposing the offerings to a huge crowd (Bonilla-Priego, Font & del Rosario Pacheco-
Olivares, 2014).
Recommendations
When using social media platforms like YouTube, “The World residences and sea”
can hire influencers who have a very strong fan following as it would help in increasing the
followers of the company’s page as well. Some bloggers can also help in posting the contents
of “The World residences and sea”. This would help in increasing the awareness of the brand
and will help in creating a strong position in the mind of the customers.
Initiating advertising campaigns can also help the organization in many ways as a
consistent message is provided to the customers throughout and across all media platforms.
Using techniques of digital marketing will help in improving the online traffic present in the

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web page and website of the company; a search engine optimization would help in a lot way.
The posts made in these web pages must be relevant to the users and must be according to the
segment type the organization is hitting having feedback channel will be the best option used
here (Park, Ok & Chae, 2016).
People
The associates under the sales team has a huge role to play for “The World residences
and sea”. Therefore, the people used by the company are highly technical and knowledgeable.
They are helpful and considerate about the customers and their preferences. The people in the
company plays a crucial role in the maintaining the quality and likewise improving it to make
it presentable to the customers that are interested for the services. The customer service
department are there for supporting the customers if any kid of issue is faced by them and all
the answers related to the product or the type of product that must suit them is conveys
through these executives (Perucic, 2007).
Recommendations
Providing incentives to the employees based on their performance would help in
motivating them and this would in turn increases the sales through them.
Process
“The World residences and sea” is very active on researching the market opportunitis
that might be helpful for the company in the future helping in understanding the customer
nedd and preferences. A feedback is collected through every customer taking their service by
the help of social media pages created that helps in making corrections if required.
Recommendations

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Improving the processes and developing something unique and cost efficient would
help the company to have an edge over others.
Physical evidence
Collecting feedback from the customers about the appearance and look of the cruise
will help in modifying the required structure.
Conclusion
Thus, from the above discussion it can be concluded that the above marketing
strategies if adopted by the “The World residences and sea” would help in increasing the
sales of the service and will also help in creating awareness of the brand and its services. A
value proposition of the company will help in understanding and explaining the requirements
better than that of the customers and accordingly develop a campaign for marketing that
would be appreciated by the customers and present the value proposition in a correct manner.
A good marketing strategy would help the company to develop its services by keeping the
profit margin intact. Doing this will help the company in making an organizational plan that
would help in catering the need of the customers. Therefore, identifying the importance of
marketing staretgy is necessary as this will provide a road map to the business. The above
mentioned marketing plan of developed by the company would help in identifying the same
and also help in implementing and executing it correctly.

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