I have to create a comprehensive marketing plan for my start up company: Travel Today
A well known travel agency that has been serving customers for 25 years, has experienced a slow down of business over the last five years. They are of the belief that the internet has enabled customers to plan and book their own vacations. Their business development department has begun researching possible alternative new product/service offerings with the idea of re-capturing some of their lost customers.
This section will begin with an application of segmentation of the market of your selected company. Think about behavioral, psychographic, demographic, and geographic criteria that might help you in segmenting the market. Once you have completed the segmentation, identify the target market that your company will focus on including your rationale. It's important for the marketing manger to understand the competitive environment within the industry in which they operate compile a detailed competitive analysis looking at the top 3 or 4 competitors and differentiating each against your company. Finally, assemble and thoroughly explain a SWOT Analysis with a minimum of three elements under each area.
In compliance with BrainMass rules, this is not a hand in ready plan but only guidance.
Travel Today is facing problems related to decline in business over five years. For improving the business of Travel Today, there will be new service offerings which will capture the lost customers. In the past Travel Today was booking air-tickets, now the new service will be airfares. Not only will Travel Today find and provide the lowest airfares but will also provide a combination of airfares into a single ticket and itinerary. This will bring down the overall cost of travel for our customer (1).
Travel Today will also start a new service called Top Accommodation. This service will identify and access special deals from resorts and hotels which promote openings or renovations. This service offers the best accommodation deals to our customers in most popular locations traveled by our customers.
The third new service offered by Travel Today will be Foreign Extra. These services will provide our customers with Visas, immunization, and travel related actions. Travel Today will keep in touch with the latest international developments and will take quick action such as alternate routes of travel, changes in itinerary, and changes in accommodation (2). Travel Today will keep abreast of developments of all types such as adverse weather or political turmoil and ensure that the travel of our customers remains safe.
Segmentation: We will segment the market into behavioral ...
The answer to this problem explains a comprehensive marketing plan for Travel Today . The references related to the answer are also included.