Principles and Practices of Marketing Analysis for Secret Escapes

This report provides a comprehensive analysis of Secret Escapes' marketing strategies, focusing on the principles and practices employed by the company. The report begins with an introduction to marketing principles and practices, followed by a PEST analysis to assess the political, economic, social, and technological factors influencing the travel and tourism industry. The report then delves into Secret Escapes' objectives, strategies (cost leadership and differentiation), and tactics, including pricing and product considerations. Ansoff Matrix and the 4Ps of marketing are discussed, along with recommendations for market expansion, including standardization, adaptation, and glocalization strategies, specifically focusing on expansion into the Australian market. The report concludes with recommendations and a summary of key findings, supported by relevant references.

PRINCIPLES AND
PRACTICES OF
MARKETING

TABLE OF CONTENT
■ Introduction
■ Task 1
■ Task 2
■ Task 3
■ Conclusion
■ References

INTRODUCTION
■ Marketing Principles and Practices helps to
study the fundamental marketing concepts at
work in today's business environment and
discuss the language of marketing, retailing,
wholesaling, promotion, and advertising
functions; examine their interplay and timing;
and learn how they propel a business.
■ Secret Escapes is a members-only British travel
company selling heavily discounted luxury hotel
stays and trips through its website and mobile
app. Secret Escapes operates in Belgium,
Denmark, France, Germany, Italy, Netherlands,
Norway, Spain, Sweden, Switzerland, United
Kingdom and the United States.

PEST analysis
■ Political Factors-
■ This factor has a major impact on the industry
of travel and tourism. Stability is necessary in
this industry there can be issues such as
terrorism or natural calamity which can affect
the business.
■ Secret escapes need to go under all these
measures so that they can take the decision of
expanding their business into Australia.

OBJECTIVES
■ To increase profitability by 10% till the end of
year.
■ To increase market share by 20% in upcoming 6
months.
■ To increase customer experience by 5% till the end
of 2021.

STRATEGY
■ Cost Leadership-
■ In this type of leadership. Company turns out to be
the provider with their low cost services. The most
important factor on which this strategy is imposed is
the economies of scale.
■ Differentiation-
■ This factor states that the company needs
to provide their services in an unique manner so that
the customers have a different value in the minds of
them. It is important for the companies who deals in
this industry so that they can position themselves in
a new and unique manner.

TACTICS
■ Price-
■ Prices are based on three key factors such
as
■ Margin of Profit-
■ Secret Escapes set the prices of their facility
according to the prices of their competitors.
They have to gain the competitive
advantage over others that is why they need
to analyze and set the prices in comparison
with others.

CONTINUE
■ Product-
■ This industry does not provide a actual product
rather it sells a service to their prospective customers.
■ The quality of the service decides the experience of the
customer. Secret Escapes need to satisfy their members as
they are a brand and their customers feel they are more
reliable.

ACTION
Task Name Duration Start Finish Predecessor
s
project initiation 2 days Tue
12/3/19
Wed
12/4/19
framing aim and
objectives 4 days Thu
12/5/19
Tue
12/10/19 1
conducting meeting
to identify loop fall in
operations
5 days Wed
12/11/19
Tue
12/17/19 2
areas of
improvement 5 days Wed
12/18/19
Tue
12/24/19 2,3
strategy
implementation 7 days Wed
12/25/19 Thu 1/2/20 4
fund allocation 4 days Fri 1/3/20 Wed 1/8/20 5
implementation of
changes 1 day Thu 1/9/20 Thu 1/9/20 6
end of project 1 day? Fri 1/10/20 Fri 1/10/20 7

PEST Analysis of tourism industry of UK
■ Political Factors-
■ UK has maintained very good relationship with many countries in the world
which creates a good scope for the travel and tourism industry.
■ Economical Factors-
■ The government of UK has decreased the rate of taxes and reduced the rate of
inflation which increases the disposable income in the hands of the people which is a
good scope for the companies who are dealing in this industry.

Ansoff Matrix
■ Existing product-
■ Hotels in UK need to target customers who come in
the category of middle class. They need to increase
in campaigning so that they can promote their name
and target them.
■ Product Development-
■ They need to take care of VIPs by providing them
the service of helicopter from the time of arrival to
the time of departure. They need to minimize their
cost so that with VIP they can also entertain middle
class people. (Serrat, 2017.)

TACTICS
■ Price-
■ key factors-
■ Cost of Operating-
■ Both the costs are included in this industry
that is fixed and variable cost. Fixed cost
in this industry remains the same where as
variable cost is the factor which influence
and drive the customers to the hotel.