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Most Effective Promotional Tools to Attract Customers - Essay Example

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Most Effective Promotional Tools to Attract Customers Instructor Name] The Most Effective Promotional Tools to Attract Customers – A Case of Virgin Holidays Background The basic aim of marketing is to increase revenue of the organization because in this competitive environment, every organization tries to take competitive advantage by applying various marketing tools (Perreault 2000)…
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Most Effective Promotional Tools to Attract Customers
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Download file to see previous pages The systematic way of communicating marketing function to the target audience in order to influence their behavior towards a product and taking competitive advantage is known as promotion (Koekemoer 2004). The promotional tools are very important in industries where competition is tough and these tools helps the organizations to maintain their market share by increasing the sales volume (Perreault 2000). In leisure industry, it is very important to determine appropriate promotional tool that can help the organization to increase the customer satisfaction and increase its revenue therefore, this paper will evaluate the promotional tools that are most effective for Virgin holidays. Company Profile “Virgin holidays” is part of virgin group and this leisure company is one of the largest tour operator companies of UK, established since 1985 (Virgin 2012). Apart from USA and Caribbean, it offers holidays to different parts of the world including Middle East, South Africa, Canada, Australia, Mauritius, and Far East. On average, the company runs 16 marketing campaigns per year in which different promotions are performed in summer, fall, and winter seasons (Virgin 2012). There are also monthly marketing campaigns in which the company, for increasing the overall revenue targets different segments (Virgin 2012). The promotional tools that Virgin Holidays is using to attract customers are Sales promotion, Advertising and Publicity. Research Objective The purpose of this research is to determine the promotional tool that is most effective to attract customers of Virgin Holiday. Research questions Q1. What types of promotional tools are most effective for attracting customers of Virgin Holidays? Q2. What is the importance of determining appropriate promotional tool for leisure industry? Significance of the Proposed Research Work The proposed research work is significantly important for the organizations of UK because this research will enable organizations to understand effectiveness of promotional tools in increasing their overall profitability. In this way, organizations will be able to implement appropriate promotional tools in their marketing strategy, which not only help to improve their profits, but increasing consumer loyalty for the product. In addition to the context of UK organizations, there is lack of research work for the effective of promotional tools in leisure industry. Therefore, this research will serve as important studies towards understanding the effectiveness of promotional tools. Scope of the Proposed Study The scope of this research will be limited to exploring the promotional tools used by Virgin Holidays for marketing, and their effectiveness for the company. No other factors will be explored or tested apart from these in the studies and it is important to mention here that the analysis and discussion in light of the proposed research aim will be limited to the skills and ability of the researcher. Structure of the Report This research report is divided into five chapters, which are as follows: Chapter – 01: Introduction The starting chapter of this report will discuss the background related to the topic and problems that are responsible for conducting this research. Apart from this, the chapter presents the aim, objectives and questions that will be addressed in this ...Download file to see next pagesRead More
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