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Creating a Comprehensive Marketing Plan and SWOT Analysis

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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.

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Solution Preview

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 ...

Solution Summary

The answer to this problem explains a comprehensive marketing plan for Travel Today . The references related to the answer are also included.

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Creating a comprehensive marketing plan, using one of the product scenarios below. You will choose one scenario, and use it throughout the entire course. Within each unit you will be asked questions, and based on your company (chosen from the list below) and previous decisions you have made, you will add the additional information to your marketing plan. It is highly recommended that you submit each unit's assignment on a timely basis in order to receive feedback from your instructor. You will need your instructor's feedback at the end of the course to put your revised components together to create the comprehensive marketing plan.
In the business environment, professionalism is very important, so make sure your plan is presented in a way that positively reflects you and the company you work for. Being involved in projects of this nature in the corporate world provides promotional opportunitiesâ?"a successful completion of this project could earn you the title of Vice President of Marketing. It is suggested that you use Microsoft Word to create your marketing plan, but the style and layout you choose to use is up to you. Make sure your plan is grammatically correct, addresses the key ideas from each unit, and incorporates all of the required components.

1. Arimount, a well-known beauty and grooming company wants to launch a new deodorant product. The company's development and research department has created a new chemical that will allow deodorants to work for up to 5 daysâ?"even after showering. Arimount has been in the hygiene market for 20 years with an average return on investment. They would like to top the market share with this innovative product.

Create a name for the product you choose, and create the following components of a marketing plan for the next year.
The marketing plan should include:
1. Situational Analysis
2. Marketing Strategy
3. Financials
4. Controls
The situational analysis must include (but is not limited to) a SWOT analysis and information about the top three competitors. Competitor information should be based on research of real companies who could compete with this product. Support your data with sources no more than five years old. You will be creating the financial information for your company yourself.

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