Marketing Essentials for Travel and Tourism Level

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-

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 our experts!

Strategic Management Plan:

Mission: To become market leader in travel and tourism.

Objective:

• To enhance sale of adventure package by 30% within 6 months.
• To increase number of customer 50% by 2021.

Situational Analysis:

SWOT Analysis-

SWOT analysis is strategic planning tool used for helping organization to identify strengths, weaknesses, opportunities and threats which are related to the business competition and its planning. The SWOT analysis of TUI has been described below-

Strength-TUI group has fleet of the aircraft and charter plan which are flying across more than 150 destinations. Company has total revenue of 18,928.1 million till 2019. The profit of company has been growing significantly over a period. They are selling majority of holidays are directly sold to individuals. Company is offering unique customized holiday package to their customer by which they gain huge consumer attraction. Company had achieved strong leadership position in the long haul travels. TUI employs over more than 50,000 employees all over the world. They had across 30 million of consumer to the company and had developed dominance in this industry (Sani and et.al., 2017).

Weaknesses-The major weakness of company is it had intense competition from its rivals among marketplace so that its state that company had less brand loyalty of consumer for its product and services. As company is global tourism brand they are facing social & cultural issues in many countries, and they had to follow culture, tradition and ethics of that country so that they can huge consumer's attraction in wide range (Bricker, 2017).

Opportunities-They can introduce various application for booking and reservation 0f holidays, even for booking flight and hotels as well. This application and technology will further helpful for company to reduce their labour and having smooth flow of business across their operation and all departments. TUI could start operation in emerging market so that they can build potential image in marketplace globally.

Threats-The major risk which is faced by company is pricing environment which had become major challenge to the company due to its competitive advantage. There are many of rivals present in marketplace which is major threat of company, and they had to implement and access their strategies as per the competitive rivals. TUI has involved risk such as Foreign exchange as company is dealing across various countries, it also has interest risk due to huge business operation and as deals in several countries it also had to ensure about each and every country economic policies (Nedelea, Ali and Alamgir, 2017).

PEST Analysis-PEST analysis is tool which is helpful in conducting thorough external analysis of business environment of any industry for which data is available. The PEST analysis of TUI has been described below-

Political Factor-The Political issue of each and every country widely affect who, when and where an individual will be travelling. The Brexit has huge impact on exchange rate, tax and visa requirement. As TUI is travel and tourism company the exchange rate widely affect company as they had to deal across the world. The terrorist attacks had also affected the travel and tourism companies as fewer travellers to visit the country where terrorist attacks have been happened.

Economic Factor-Currency and exchange rate affects the value for money to the customers. Brexit had an extreme impact on the company and the costing of holiday. TUI had to mai8ntain its costing as per the market situation as there is rescission in market due to the situation of Brexit the purchasing power of consumer has been declined. It is multinational brand with operations across 180 countries it also supports economic growth of several countries through travel and tourism. They also provided job stability in several countries as well (Sarpong, 2018).

Social Factor-The social attitude and lifestyle if an individual changes time to time as per the market trend. Due to rise in solo traveller TUI had to develop more solo traveller package so that they can keep up with emerging trend ad gains huge consumer attraction. They had developed brand image and consciousness among marketplace and consumer so that they could gain huge loyal consumer base. Travellers also wants to have instant access to the travel package through website so that it can save their time and further they can pay for that also on website. Consumers are now along with travel need their safety also so TUI must take care of their consumers safety so that they feel safe to travel with company.

Technological Factor-TUI could introduce advance technologies in their companies operation so that they can easily access with consumers. They can include various application, social media, gaming and virtual experience into their tour and business operation so that they can render their traveller with amazing experience of tour and could have smooth flow of operation in business. With online and internet sale interaction among consumer has been declined the TUI must be aware of interacting with their customer and replying to their messages quickly and getting feedbacks from them further(Becker, 2016).

Marketing Mix:Marketing mix is set of the action or tactics, which company utilize for promoting its brand or product in marketplace effectively. The 7Ps of marketing mix can be used for explaining this which are described below-

Product-New product has been launched by TUI in market place which is “Adventure Holiday Package”. Under this package they are providing the adventure trip to age group of 20-35 individuals. They are including 7 sites which are full of adventure. In the package they are providing them amazing thriller experience of tracking, camping and thrilling ride to the nature. This trip will be of 7 days and all expenses are included in the package itself and it could be the solo trip (Aung, 2019).

Price-They had kept minimum pricing for the package as the age group which they are focusing could not pay such high amount for the package. With the minimum pricing they can have gain huge consumer attraction of each age group which have been mentioned by them. With minimum pricing they are including all over package expense of travel, and they are rendering standard services to the customers.

Place-They will be selecting the places which can attract individual effectively. The place which is full of thriller, adventure, camping and natural attraction so that the consumer could have an amazing experience of trip. They will also be selecting various sea adventure that will gain huge consumer's interest easily. Attractive and adventurous places are being selected by company to attract wide range of consumer to their package.

Promotion-The effective promotion strategy will be used by company. They will be launching several campaigns in the colleges so that the more and more youth can be attracted toward their packages they will be also advertising on social media channels with amazing adventurous and thrilling video so that consumer are attracted towards them and get involved in the tour and had amazing experience. They will also be launching the campaigning in the malls so that other generation can also be attracted towards their package.

Process-They will be having online sale and marketing and thus individual could purchase the package online and offline basis. TUI will also be offering discounts to first three travellers so that more and more individuals are being attracted for purchasing this tickets quickly and hurly.

People-The age group of 20 to 35 people are entitled for this package. They are mainly concentrated under the package. They can opt this package and have thriller experience across world.

Physical Evidence-The package is available on company's website and social media channel where an individual could easily purchase the package.

STP-TUI will segment middle class and upper class people throughout its new products marketing strategy. They had introduced new product which is developed for the middle class and upper class people who can have their weekends well spend. The target group is age group of 20 to 35 who can opt this adventure holiday package and enjoy the trip. They above age group is also not eligible for this package as they can have set the age criteria for that package due to the thriller which are induced in this package. Positioning of this product is that they are rendering premium offering to their traveller and letting them to enjoy the standard services which will be given by them to their customers (Alves and Azevedo, 2018, September).

Monitoring and controlling- TUI will be using the KPI key performance indicator for analyzing the performance of company's product. By this they can analyze whether there product is performing well in the market or not if they can have another measure so that they will be updating it and having success further. TUI could sustain in market with the new product with appropriate strategy and plans (Al-Janabi and Mhaibes, 2019). Order assignment help from our experts!      

Budget:

CONCLUSION

From the above study it can be concluded that the Marketing plays a major role in growth and development to travel and tourism organization. All company's department are interlinked with each other and had huge impact on company's overall success. Company could easily gain huge success and consumer attraction towards its products and services. The travel and tourism company could gain huge success if they are implementing effective marketing strategies so that they can get huge success further. By effectively analyzing market situation travel and tourism company could compete with its rivals effectively in market place and sustain for long term. There is huge competition for companies in marketplace to compete with them companies had to implement effective strategies and policies with complete market watch that they can lead in market. By implementing these policies and strategies company can gain huge success and achieve its objective and goals effectively.

Read more - Branding an Important Marketing Tool

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