Market Research/ PEST analysis- Online travel portal
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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 overast five years. they are of the belief that the internet has enbled customers to plan and book their own vacations. Their businee development department has begun researching possible alternative new product/service offerings with the idea of re-capturing some of their lost customers.
The marketing plan should include an introduction of the company you have selected, allowing the reader to understand the company, product/services, and any other pertinent details. marketing plans are compiled by companies that have incorporated a solid marketing research strategy in order to better understand the industry, competition, and customer. Explain the research strategies that will be used by your company. Finally, analyze the macro environment using PEST analysis. This will lead to a better understanding of how changes in the political/legal, economic, sociocultural, and technological environment will affect your company.
The format of this professional Marketing Plan is essay format.
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Solution Summary
The solution provides PEST analysis and market research plan for an online travel portal. A professional marketing plan is given in essay format.
Solution Preview
The new company would be an e-commerce travel portal along with an ios/android mobile app which would allow customers to make customized travel itinerary online as well as make all the travel bookings, be it hotel, air tickets, taxi booking, guided tours, at the click of a button in a seamless manner. The portal would be very user friendly and will provide opportunity to travelers to create their own itinerary in a very easy to understand and informed manner. The portal will also offer curated content and experiences of other travelers, as well as provide other technological features such as alerts for bookings, alerts about low rates, updates about locations shortlisted by the travelers, etc. The portal will be a natural extension to the existing business of the organization and will allow the organization to capitalize on its expertise/experience and brand name in the travel business.
Marketing Research Strategies:
The organization will use a combination of marketing research approach to understand customer needs, preferences and trends. First of all, the organization has a solid database of existing and potential customers as it has been in the industry for the last 25 years. Further, it has access to target customer data as well from other industry sources. The company will conduct an extensive primary research survey to identify the needs, preferences and customer behavior trends. For example, the survey would help in identifying the preferences of customers in terms of making their travel ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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