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697 Downloads 19 Pages 4720 Words
The sector of tourism is growing with rapid speed because of incorporation of several changes. In tourism marketing management handles and prepares the knowledge and information for market using particular areas or destinations by firms in the travelling sectors. Present report is based on Visit Britain in Britain which provides various kind of tourism services (Mariani, and et.al., 2014). The destination or tourist attraction selected for the report is Tower of London and marketplaces aspect has been demonstrated. It is historic mansion which is royal place of majesty's. The entire report has been presented into three parts wherein the first one represents the latest trend and other changes that takes place in tourism sector. Furthermore, impact of changes in external environment has also been explained. Apart from this, second part of report deals with the current selling concepts and its role in promoting the tourism services. Lastly, third part of the report covers key opportunities to increase market share and the competitive position of the firm using marketing management process. Moreover, Segmentation, Targeting and Positioning (STP) strategy and other related commercialism strategies are also evaluated in the light of selected tourist attraction.
Today tourism industry is widely growing by the tourists and their attractions. UK is the most influence country in Europe. It is encircled by the Irish, North and Atlantic Sea. These also includes some English channels (Mok, Sparks, and Kadampully, 2013). So these seas are also attracting the travellers. UK is the member of European Union which is one of the twenty-seven states memberships. By the nominal of GDP growth of United Kingdom have big economy in parity of purchasing power. So the tourism industry is majorly impacting on the growth of its economy.
The tower of London is royal place and it is placed in central London in river Thames at north bank. It is also known as Tower of hill. This destination was used as prison in 1952 and it is only for royals so services are only given to them. In twelve and thirteenth century, destination was expanding in various phases by the Richard and Henry III kings. In 2015, around 2785249 visitors was there and data is calculated by VisitBritain. This is made up from various forts. At the lowest floor, was home for the prisoners. Furthermore, exhibition tells whole information and story related to living of prisoners.
In 2001 UK was on first position in the world for commercial enterprises or industrializes. These also have many companies for tourism according to place wise and their size. These firms analyse the trends in order to customer requirements and their interest. These organisations also offer packages and schemes for attracting the visitors. So this kind of offers will impact on the business growth. In 2011 around twenty-nine million visitors was in UK and it takes the best place of tourism attraction behind such countries like China, Italy, France, Spain, USA and Turkey (Gössling, Scott, and Hall, 2015). Furthermore, it is the seventh world’s largest attraction for tourists. The VisitBritain calculates the visitors staying time and their information in 2011. Tourists were there around fifteen million and passing their time with spending their money around 9.4 billion pounds which shows that fifty-two percent was the foreign tourists. So these criteria also include for Tower of London.
The VisitBritain calculating for the next decade in the industry of tourism for that is expected for UK that it will be grow to 188 billion pounds in 2020 and the jobs related to in this sector will maximize with 264000 to around three million.
Some trends that affect the travel industries including Tower of London in UK are: independent tourists, maximizing inbound travellers, effects of different country's currencies (Vitouladiti, 2014). These trends are majorly impacting on the external environment in the sector of travel and tourism.
The external environment influences the businesses that are shown as above from the data of UK's growth and economy. The uncontrollable forces are open from the external surroundings. These forces cannot be controlled by the firms or persons (Dolnicar, and Ring, 2014). So, the firms internal environment can be managed according to things which are affecting the tourism sector. Some external forces which is uncontrollable contains: cultural and social forces, government rules and policies, updates in technology, demographic factors, natural forces, and competition.
SWOT analysis : According to these study, understanding by the services of firm for Tower of London will help to know the weaknesses, strengths, threats and opportunities for businesses. Sometimes the organization strength depending on the area of central London and also other locations of foreigners which is visited by the clients. According to this historic place image, the services around this location offered is costly for travellers. Updates in fashions or trends can maximize the interest and also leisure activities. Like walking, surfing or golf. The improvements in technology also maximize the opportunities for its Tower of London. Some promotional activities like campaigns also increasing the targets for firms. Like climate or whether also impacting tours of travellers for Tower of London. These economic effects cannot be controlled by tour operators.
The marketing is the way where the enterprises promoting their products and services via advertising to get the public relations and make profit. Tower of London is already famous because it is historic place of London. This also can refer technique or science,Llike using its image that gives more provable evidence and also helping for attracting the public. The tour operators generate attraction to create more value of this location with making their profits. So for these, companies mostly following firstly analyse the market and marketplace then its all related information for tower of London(Mason, 2015). So these market theories will help to firm to take effective decisions for marketing their product and services. Commerce is helping the firms to increase their profitability and services also make awareness in peoples mind.
Put right thing on right place is called marketing. It simply means is that correct price at right area and at that time must set the product and services. These can be done by the marketing mix. This is a technique to set the right services on exact location. The VisitBritain doing this same thing for maximizing their services to the clients (Walker, 2016). These helps to understand and realize the requirements of customers and make a better plan for offering services which is more successful and beneficial provided by firms in visiting the place of Tower of London. This can be presented in some elements which are like selling services, price ratio, position, tourists place which helps in maximizing travellers for Tower of London. Furthermore, commercial channels and viral marketing also aware the peoples for visit this place..
Marketing is analysing group of information which help to attract peoples for Tower of London. These data also helps companies to change their already existing products, services and update their prices via selecting the channel for distribution and make an image of firm in place of market for destination. In these, the enterprises collect information of their competitors for this available destination. Like customer demographics, number of products or services which are sale and statistics of firm (Getz, and et.al., 2014). Like VisitBritain collecting its competitors information so their name are PCMA, Expedia and Visitbritain London UK.
Tower of London place in market, important to maintain its image for attracting travellers and providing its services. These theory helps in to increase the sells and maintain the level of firm. By the commerce and maintaining the position of firms the customers or clients believes that they get the best services and products from the firms (Zeng, and Gerritsen, 2014). For to know the requirements of customers the market is the way to get these kinds of details according to its location. So the VisitBritain is applying these things and get the information of visitors from the marketplace.
The value of products and services around Tower of London affecting its attraction on travellers. For example VisitBritain price of services is below as compared to PCMA then these will attract more customers for taking their services. So the minimizing and maximizing the price of services and products can give the profits and loss for the businesses (Du Cros, and McKercher, 2015). The clients always believe that same services and quality is offering by another firm with low prices then they will definitely select that firm. Peoples always expected to pay low price on services and products for its quality. If the cost of services is low as compared to other than that thing will take more place in peoples mind for buying that thing.
The commercial channel is the way where the firm is transferring their products and services to the market and then customers will get that from marketplace. For example one firm is selling their high branded shoes at discount shop so clients will prefer to go and take other products (McCamley, and Gilmore, 2016). So this thing present that the firm is not more different with their competitors and selling their products with high prices which is not suitable for clients.
According to some surveys is examining that many enterprises connecting with social networking sites for promoting their products and services (Prebežac, and et.al., 2016). The firms use like emails, twitter, Facebook and other things or accounts for communicating and providing the details of services and products of it's their business. The enterprises will get responses on their sites if the people want their services and products so company here without any advertising launching their things.
Product and services:
The services which offers by the VisitBritain must be meet with the client requirements and their needs. For these, the firms must understand the product life cycle for making the planning to promote their services and products to the peoples (Wachowiak, 2016). The enterprise must examine the market, marketplace and services which is offered by its competitors so this details will help to make decisions in the process of marketing. These will give benefits by analysing the details of market in the industry of tourism.
Publicity is important for selling the services and products for the companies. These contain the advertisements, promotion for sales, schemes and offers also relations with public. This plays an important role in the development of services and products. The value and the people will be marked in the marketing by the firms (Volo, and Maurer, 2014). Promotion is launching the services and products to the end user in commerce so that they will be use that thing. The VisitBritain also following the social network sites for promoting their schemes, discounts and packages for marketing.
The location is depends on the clients requirements because the firm will provide their services according to selected place (Beritelli, Bieger, and Laesser, 2014). Like VisitBritain is providing the schemes and packages on according to customer needs and their chosen areas. This strategy helps to measure that which services and products will be suitable on which places and also tell that how it will be retrieved by the peoples and fulfil their needs.
It plays a major role in tourism industry. Treating tourists by the local people is important to know for the travel industry. This includes sells staff, guides, travel agents, etc. Railways, buses and airlines etc tourism enterprises also consisting in these marketing of people.
The process of operational for VisitBritain some steps are as above in the attraction of Tower of London :
Before going for holiday, the detailed information in booklets provided to the clients. So this will help the customers to know the all details regarding to tour.
The VisitBritish can maximize the market share by the innovating new ideas, feat competitors, best hiring practices, and maintaining the relations with public for attracting Towerr of London(Neuhofer, Buhalis, and Ladkin, 2014). The market share of the firm is the percentage providing their services to the customers. Using these techniques, if the firm annual sell is 2 million and then the total sales for the current year is 200 million then the enterprises market share will be 2%. Using this percentage technique, the firm can get exact selling services and market share.
Competitive advantage will give higher market share for the firm. All firms want to maximize their market shares via fulfil the client needs and getting successful of its business. Sometimes in the safety and in annual planning, the enterprises fall shortly by large ratio. When the firm is calculating the financial year at the end and evaluating the success but sometimes the expectation not meet the budget that the company is assuming (Gregori, Daniele, and Altinay, 2014). If the assumptions are met but the growth percentage of market share is not match compared to other firms. The successful plan if implemented in the process of planning then the growth as well as the shares of market will be maximize.
The firm do not make any mistake for the growth of business. So the enterprise should wait until the structure of its enterprise is matched and provide the proof that it is workable for the future will maximizing the scale (Medlik, ed., 2016). Development strategy will help the firms the measure its progress. These will set the price, techniques, targets and systematic timetable. So the enterprise must restructure their plan in order their plan of action.
The successful enterprise will retrieve its growth in price as compared to other competitors in marketplace. Here are some steps that will help the organizations to maximize their market share and also make more clients. The Ansoff's matrix suggests market growth which helps to attempt and develop the services according to marketplace.
Market Penetration and its development: Maintaining the shares and current services of the firms can be retrieved by the combining the competitive objectives of pricing, promotion of sells, advertisement and resources. Developing the market can be analysing by comparing and also creating new services for the clients. Using new distribution channels, creating services, various cost policies.
Building market share:
The firms are firstly analysing deeply their levels and also include their services that helps to maximize the share for market in the attraction of Tower of London. The company must study their functional and operational services according on its business levels.The demand of customers and market research is essential for increasing the market share plans (Morrison, 2013). For measuring process the firm can work on the development strategy so it will be increase the procedure for planning. The firm can use advertisement and blogs for attracting the clients also offering the discounts, schemes and packages. These will also help to maximizing the market percentage for shares.
The organization must analyse the majority and levels of its business. For these, the firm must know their services to the clients and related all details. Like VisitBritain doing their duties and exploring more services according to the location and time (Sigala, 2014). So the businesses must make their economical size in order to market place that will give the proper way for making market shares. The organisation can not attract the customers via making promises and using their talent. For maximizing the market share must meet some things which are like the growing or stabilized firm's primary market, the unique or homogeneous services to the client and compare business services to other competitors and also get the details for resources.
Product development and diversification :
The strategy for developing products growth is the research, innovation and development. Furthermore, client requirements must be show in details and build the market.
This study is recommended that for gaining the success and opportunities some elements are useful in travel and tourism sectors. These objects are as follows: build an image for firm, using travel and trade can maximize the distribution, wider offering products and services by the businesses and create easier process to visit the places, performance of visa procedure, the organisation increases the capability of aviation for particular emerging markets for promoting air paths in travelling.
This report is emphasised on norms that tourism is widely growing industry because of several updates arisen accordant to time. For managing the marketing in sector of tourists, these can be done and handle by the preparing the knowledge and details of marketplace which depends on the Tower of London. This study is presented in three sections wherein initial part displaying the latest trends, other updates and it is impacting on external environment that takes place in travelling industry. Using from these, the second is presenting the deals with marketing concepts and its role for promoting the tourism sector. The end apart from these covering the opportunities keys for maximizing market shares and the competitive position of the business using marketing management procedure also segments, targets and other related its strategies which are also evaluated for the selected tourist attraction.
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