Question :
This sample will let you know about:
- Discuss about the 7P's market.
- Discuss about the Strategic Management Plan.
Answer :
Organization Selected : TUI
INTRODUCTION
Marketing is crucial for the travel and tourism industry, helping companies attract a large number of consumers and achieve marketplace success.
TUI, also known as TUI Group, is an Anglo-German travel and tourism organization headquartered in Hannover, Germany. It is one of the largest travel, leisure, and tourism companies globally, with a revenue of €18,928.1 million in 2019. This report covers the role of marketing and its interrelation with other functional areas within TUI. It provides an introduction to marketing concepts and processes, as well as current and future trends in the travel and tourism industry. The report explains the roles and responsibilities of the marketing function and how they relate to the company in a broader context. It also analyzes how marketing influences and interrelates with other departments within TUI, highlighting the importance and value of marketing in the company. Furthermore, the report critically evaluates the significance of effective interrelationships between the marketing function and various functional departments within TUI. It concludes with the preparation of a management report using the marketing mix and evaluating various tactics to achieve specific business objectives, along with the development of a strategic marketing plan. Need assignment examples? Talk to our experts!
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Management Report:
Marketing Mix-
Marketing mix is composed of various variable of the market which are mixed by organization for generating desired response in targeted segment. It is associated with 4P's of the marketing, 7P's of the service marketing and 4C's theories which are developed in 1990. This can be described below-
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7P's of Marketing Mix
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TUI
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Expedia
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Product
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- TUI sold their products under five categories each of them are served as isolated product line. All of them are sold under brand name TUI.
- They had wide range of variety in their product range with highly differentiated and various features that are offered to consumer.
- High quality products are given by company.
- Expedia deals for booking airline and cruise tickets, reservation in hotels, packages for vacation and car on rents etc., along with that they have number of email products as well.
- They had limited product range with common features which their competitors also offers to their tourist.
- Quality is not much preferred by company.
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Price
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- The pricing strategy which is used by TUI is competitive based pricing strategy.
- They had high price for product and services which is provided by them to their consumer as compare to its competitors.
- It uses product bundle pricing for some products which are clubbed together and sell at lower price.
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- The premium pricing policy has been used by Expedia in which they render the best possible price to their customers (Hall and Williams, 2019).
- The had low pricing for its middle class section and best possible price for upper class people (Dileep and Mathew, 2017).
- It does not use bundle pricing all of its products are old at same price whether wide range of products are opted.
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Place
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- It sells their products by two marketing channels. Firstly it directly sold to consumer by their website online and secondly it sold to the agents (Okumus and Cetin, 2018).
- TUI had it's head quarter across Hannover, Berlin and Germany and its group has over 1600 travel agencies, 150 aircraft, 380 hotels & resorts and 16 cruise liners across various countries.
- Expedia took help from multiple system for rendering service in their global distribution policy. Amadeus and Sabre reservation are to be used for booking flight and hotels.
- It has maintained its global presence which had reached local site in the United States, Canada, China, Belgium, France, Hong Kong, Germany and Australia etc., It has been performing its operation through several countries.
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Promotion
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- Multiple media channels are utilized by TUI for promoting products (Pike, 2017).
- It mostly advertises on social media website which mainly focusing on Facebook, YouTube and Twitter etc.,
- They also use various sales promotion in which they take part into trade exhibition and events across countries, render discounts offer on their product & service to their consumer.
- They also use multiple channels for promoting and advertising their products.
- Expedia uses Facebook and Twitter for promotion and advertising and follow up their consumers (Stalmirska, Whalley and Fallon, 2019).
- Mostly Expedia launches frequent campaigns so that they can deeply engage with their customers. They had launched online campaign known as Friend trips (Kumar and Mishra, 2019).
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People
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- Friedrich Joussen is the CEO of TUI.
- It has spread over 150 locations and 71473 employees are employed in company (De Bruyn, Meyer and Meyer, 2018).
- TUI also has diverse workforce as this company operate their business across several locations and having tourist of various culture and religions.
- Rich Barton, first CEO of the Expedia said that word Expedia comes from combinations of the speed and exploration.
- It has spread across 60 countries and employee over 15000 individuals.
- It has diverse workforce from several cultures and religion of different countries.
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Process
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- TUI operates 5 brands under brand name of TUI.
- They are operating business in all over the world.
- It comprises 1000 experts in travel industry and several management experts (Pappas, 2016).
- Under this brand name Expedia host brand catering for its huge consumer base.
- Company has maintained relationship with its supply team across world.
- Their teams work closely to achieve their overall objective.
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Physical Evidence
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- Physical evidence of TUI can be seen through its website, social media sites and its 5 brand categories.
- It has over 60 million traveller every month across the world.
- Expedia physical evidence can be shown up on their online website, application and host of the subsidiary organizations.
- Expedia has 40 million travellers each month.
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Evaluation of various tactics which are applied by tour operator such as TUI for demonstrating how specific business objective could be achieved
TUI has been rendering wide range of product and service range which is helpful for company to attract tourist easily. Company also mainly emphasis on providing high quality service to the tourist who are spending their holidays with them. Along with high standard service, pricing of product has been significantly raised (Chiguvi, Madondo and Tadu, 2019). Whereas Expedia has limited range of products for their consumer along with that they are keeping pricing as per the society class- low pricing for middle income group and premium pricing for high income group. Thus, TUI had gained its aim and objective effectively by rendering high quality product and services to the tourist. They are gaining huge consumer loyalty base due to that. With its unique features product they more and more consumer interest has been gained toward company's product hence huge profit and revenue has been achieved by company. The company is using social media website and campaigns for promotions which is the best promotion strategy and by this they are gaining huge consumer support towards their services. Expedia is also using social media platforms and majorly concentrating on the online campaigns. They had maintained strong relationship with the suppliers and travel agent which is helpful for them in maintaining smooth flow of business throughout marketplace. Overall these tactics are helpful for company to gain huge profit and revenue further. They had gain huge success over a period and had expanded across the world. Company has also achieved competitive advantage among its competitors in marketplace and could sustain in market for long term (Chang, 2017). Take Marketing Assignment Help from ou
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