London Ships of Historic Interest Partnership - Case Study Example

«London ships of historic interest partnership» Marketing Plan Executive Summary: The study is to develop the marketing plan for new project. London’s SHIPS is planning to target a number of new international markets. So that it is very much necessary to develop a new marketing plan before targeting the new markets. The study consists of the objectives, Assessment of market environment and market identification etc. of the new international markets. The action plan, budget evaluation of the marketing plan also comprises in this study. Inside an increasingly competitive market SHIPS Partnership is enthusiastic to set up the brand in a numeral of key international or worldwide marketplaces. The marketing plan is to find out the most suitable international markets to target the product launch. In this study the firm and its member vessels rely greatly on the tourist marketplace. Adventure Tourism industry has turn out to be one of the most leading industries in the present era and is “one of the fastest growing segments of the travel industry in the world.” (Lala & Bhat 75). Most of the states have understood the significance of this segment and they are creation numerous efforts to build up this business. A qualitative expansion in this field was possible when numerous international organizations like the World Trade Organization took interest in bringing up this business. Lot of attention should be given at the time of market the products in the international marketplace. Explanations Different Models of ships that are on display for exhibition purposes The Golden Hinde (1577) This exhibit is being visited by over 20,000 children every year through different workshops and pageantry events. This relic from the 16th century provides first hand account of the trade routes visited by British sailors during that era Cutty Sark (1869) This relic is a kind of clipper vessel that has been seen by over 15 million people over the course of its tumultuous history. Now under major conservation, this ship would open during 2011 for public view. S.S.Robin (1890) This is one masterpiece of maritime history and for the trio of legendary vessels along with Cutty Sark and HMS Belfast. This is a typical example of a sea cargo steamer HMS Wellington ( 1934) A relic of World War Two, now party a museum on water, floating library and meeting./dining place. Fireboat Massey Show (1935) Designed to go through all the bridges of the River Thames and all its tributaries. Now this is a part of the Fire Brigade Service of London HMS Belfast ( 1938) Light cruiser ship the only one of its kind that has seen active action during WW II Now part of the Imperial War Museum and is acknowledged to be the first ship after Nelson’s victory to be preserved and publicly exhibited. Objectives: Several policies have been executed to maximize the promotion of this segment to the appropriate marketplaces. The objectives should provide supervision for each and every one decision which includes capital, human resources and market promotion. Equally important is the objectives must be measurable statements as to what the industry wishes to attain within a certain time. “The need to formulate a strategy for marketing new product is crucial for any business. Without a well-thought through plan to attract customers, your efforts will most likely be haphazard and inefficient. Businesses should focus in making sure customer needs are met and develop long-term and profitable relationships with them. This means that you will need to establish a plan of action that is flexible in a way that it can respond to any changes in customer perceptions and demand.” (Ideas to Promote New Products-Media & Marketing Implementations). The initial objectives of the Partnership are to increase public awareness and interest in the historic and museum ship based in London. Finding out target markets to market the product London ships in international market. Knowing the demands for tourism services of the particular chosen market. Delivering services according to the preferences of the consumers. The concerned departments need to take additional initiatives to market these historical vessels with the active participation of local governments and private sponsors. Assessment of market environment: A market comprises of customers-heterogeneous group. It is vital to recognize like consumer who hold similar desires and needs and group them. And also at the same time every market consisting of populace by way of different traditions, standard of living and fiscal environment. Various factors influence the assessment of market environment of the product London Ships launch in the new international markets. So that it will be the one of an important part in the marketing plans of new product that is the London ship launch in the international market. “Environmental analysis will help you understand what is happening both inside and outside your organization and to increase the probability that the organizational strategies you develop will appropriately reflect your organizational environment.” (Kotlinikove). In tourism industry Assessment of market environment assists in analyzing the circumstances of the industry. The economic surroundings of tourism can also be understood by way of using this. Customers, competitors, costs, climate etc are some of the factors that are considered while executing the situation investigation of tourism. Various internal factors associated with assessment of marketing the London SHIPS in the new international markets are customers, cost of products etc. But the various external factors associated with the assessment of the market environment for the new international marketers are climate, cost etc. In tourism segment the requirements of the visitors, their satisfaction, monetary or economic impact etc are very significant for situation analysis for the London SHIPS product launch in new international markets. The assessment of market environment also will assist to set up the amount and actions of tourism industry. “The complex assessment of forecasting environment including the influence of the factors of external environment, consumers’ demand and the tendencies of the market expansion can understate an indefiniteness of the decisions. Under the conditions of intensive competition the analysis of forecasting environment and its factors to assess the competitive market demand becomes especially relevant for industrial enterprises, which aim to forecast the perspectives and tendencies of the market development and to survive in the conditions of dynamic market.” (Pilinkiene 1). Compatibility and reliability are the major problems that a business faces at the time of joint actions. The people are not hesitating to spend money for travel and tourism therefore the tourist nations are attaining huge revenue through the tourism industry. Marketing assessment helps to obtain the most adequate information regarding the matter of new product launch in the international market. And also at the time it will helps to find out the most appropriate target market also for this study. Market identification: Market identification is the another important aspect that need to consider at the time of developing the new marketing plan for launching the product London SHIPS in to the new international market. “National Historic Ships has launched Shipshape Network - a new initiative to promote skills relating to historic vessel conservation.  The UK-wide Network will reach out to all those with an interest in ship preservation, providing a communications and marketing framework for the sector.  The associated website includes the National Directory of Skills & Services, offering free listings for over 500 specialized craftsmen and facilities.” (Shipshape Network Goes Live). Market identification or segmentation is a course of isolating varied marketplace into section. Service business must be segmenting it market place before providing services to its target marketplace. So that it is very much vital for the London SHIPS to segment the international market before launching the product. Collection of accurate basis for separating the market is very much essential. So the service business will consider following areas for the market segmentation. Such as service uniqueness, the necessity of facilitate the particular service, monetary and other property for the collection etc… “Market segmentation can be approached from two broad directions: supply side (e.g. grouping similar products together) or the demand side (e.g. demographics and behavioral patterns of tourists). The objective is consistent: trying to reach out to potential customers in a more cost effective manner. The levels of segmentation can be broad (e.g. businesses offering an ‘outdoor’ experience) or narrow (e.g. a segment of the population in a set geographical boundary, who have a certain medical condition, with children, in a particular income bracket).” (Market Segmentation in Tourism). Segmentation of market arranged on the basis customer’s reply and customer’s personality. The personality of the purchaser is connected by means of it geographic (marketplace separated on the basis of nation, provinces, district etc…) demographic (marketplace separated on the basis of maturity, family unit, revenue, job etc…) and psychographic area (marketplace separated on the basis of significance, faith, character of a person etc…) customers reply is connected by means of the excellence, worth, connection with the services etc.. Tourism industry is one of the mainly influential industries along with others service industry expanded and developing states are taking well-built work to form to the tourism sector. Marketing objectives: All the objectives associated with the marketing plan are measurable, achievable, time-specific, non ambiguous and flexible. The marketing plan of the study is mainly to launch the product London SHIPS into the international markets. So that one of the main objectives of the study is to identify the target the market .If this objective of the study is not possessed the above mentioned qualities the important of the marketing plan is not capable to fulfill. The marketing strategy part of the marketing plan draws our game map to accomplish marketing objectives. It is, fundamentally, the heart of the marketing plan of the new projects. A qualitative expansion in this field was possible when numerous international organizations like the World Trade Organization took interest in bringing up this business. Lot of attention should be given at the time of market the products in the international marketplace. SMART objectives of the new project are easier and faster to learn. S.M.A.R.T. consists of the following: Specific, Measurable, Attainable, Realistic and Timely. The marketing objective is the commencing point of the any of the marketing plan of the new product launch. Once ecological studies of the new project such as SWOT and PEST are completed the next main task is to carried out audit for the marketing, their consequence will notify SMART objectives of the particular study. Reason of the SMART objectives comprise To enable organisation to manage its marketing plan for the new product launch. To assist to motivate citizens and teams to attain a universal goal by October 1, 2010. To offer an agreed, continuous focus for each and every purpose of a firm for launching the new product by October 1, 2010. To set a target date of October1, 2010 as the presumed date of launch Marketing strategies: The best type of marketing mix would be a combination of education and nostalgia. Some of the ships in this Partnership have seen action during World War II and have preserved the legitimate culture and pride of the British navy during that earlier era. This could serve current military strategists in knowing about the ships and the strategic roles they played during those crucial moments of world history. Besides, this could also serve as good educational and information storehouse for school going children in knowing about these ancient ships and their performance for commercial, wartime and maritime voyages. The marketing strategy that needs to be adopted is to enthuse and stimulate interests among the younger generation in English heritage and artifacts of a earlier era. Most of the members of the younger generation would have no first hand account of the enormous contribution of seafarers in the economic and political development of this island nation, and this Partnership could go a long way in reestablishing these historical facts and placing the facts as they should really belong. “The historic ships based in London provide a valuable source of information and inspiration, as well as facilities to inform and educate visitors about Britain’s maritime heritage.” (Ships of Historic Interest Partnership). Next, this marketing strategy needs to consider how these historic ships could add value to the cultural heritage in terms of also serving as a museum and factfinder for what transpired during the earlier era. It could serve as floating museums, libraries, and also could be used as conference hall and dining rooms for corporate houses. These ante facts could very well capture the glory and pride of a earlier era in all its resplendency and glory, brought up to the 21st Century. It would be like being transported back to the 16th, 19th and 20th Century, the war years and the years during which British maritime was at its zenith. Action Plan: The action plan would involve interacting with the War Office who would be in charge of the ships that have seen action during World War II, like the HQS Wellington (1934) and HMS Belfast (1938). These warships have served the country with distinction, and deserve to be revisited by tourists and locals to gain knowledge about them. The Action Plan would envisage opening up access to these ships on selected days, including Sundays, which could serve as a floating exhibition and library combined. Besides this educational tours could also be conducted through schools/ colleges/research institutes for taking school, college and research scholars on conducted tours of these ships. This could serve both commercial and educational values, besides being an exhilarating and entertaining experience. Marketing Budget: How much do you have to spend and how you would allocate the resources The Marketing budget would be in the region of British £500 to 750. Of course the ground realities and expenses of setting up and staging an exhibition-cum- museum infra structure should also be considered. The setting up a trust that could invite public sponsorships or corporate donation for maintenance and renovation of these ships could be considered. This public trust would be administered by the local council or borough. Monitoring and evaluation There needs to be constant monitoring and evaluation of these series of ships which comprises of “Goldie Hinde”(1577), Cutty Sark Clipper (1869), SS Robin (1890), HQS Wellington (1934) and finally HMS Belfast (1938). (Bell). The conditions of some of these ships need to be constantly overseen and it should also be ensured that future deterioration and damages do not occur. Restoration work for these objects of arts is in full swing and these are indeed treasured and highly priced items that have rightfully gained places in museums. Besides the high degree of security and preservation actions that have to be taken for these ships, it is also to be ensured that their legitimacy and priceless value are preserved for a long time to come. The measure of the perfection of our marketing efforts could be translated in the large number of people, adults and children who come to visit these ships. “The historic ships based in London provide a valuable source of information and inspiration, as well as facilities to inform and educate on Britain’s maritime heritage. The recently launched partnership aims to increase the awareness of the work of the historic and museum ships based in London.” (London, International Trade & Maritime History 1560-1960). The public response and mass appeal and attraction that could bulwark these kinds of exhibitions and public gathering could go a long way in providing a powerhouse of information and factual data on important issues that form part of English maritime history and recorded history of their brilliant performance both in commercial and war time. “Explore Maritime London has been developed by London SHIPS (Ships of Historic Interest Partnership) which aims to provide a dedicated information service to visitors to the capital who want to find out more about the nautical attractions offered on the River Thames.” (Discover London’s Maritime Heritage with Flook). Perhaps one of the most intriguing and exceptional nature of this exhibition could be that posterity could have a much more clearer idea about what had happened during the war years, and could also bring in necessary funds that could supplemented the funds necessary for upkeeping these legendary maritime artifacts. It is indeed necessary that these ships be preserved for posterity in the best possible manner, in order to educate young people and also provide a source of entertainment and historical interests for people of all age groups and occupations. Even the commercial ships that are on display, have “Its specific primary aims are: The restoration, maintenance and preservation for the public benefit of the sloop HQS Wellington as part of the nation’s heritage., The education of the public in the history and traditions of the British Merchant Navy.” (The Willington Trust). Conclusion: This marketing plan needs to consider the economic and commercial aspects of this museum and exhibition show. By lowering the entry fee to say around £ 5 for adults and perhaps£ 2 for accompanying children, it is believed that this could be a runaway success and could even be translated into a permanent feature. The Thames attracts visitors and guests from all parts of the world and perhaps, there could be no better setting for exhibiting London ships. Besides, there are positives for tourist attraction and this could also be shown as a major tourist centre and attraction. In the years to come, the London ships holds exceptional promise and a sound marketing strategy, based on current market research on this subject, could throw up interesting propositions. The main audience could be school and college goers, research scholars in ancient British maritime history and other people who are interested in knowing more about UK’s past maritime history right from the 16th Century. Besides being a floating museum and well stocked library, the London ships holds immense potential as an rendezvous for annual and monthly corporate conferences, seminars and discussions which need not restrict itself to UK’s colorful and flamboyant maritime history right from the years of Sir Francis Drake. The London Ships would recreate past history, bring the past glory and reminiscences of a glorious earlier era before the beholder’s eyes. It could also serve as dining halls for parties and public dining, with its ambient environment and beautiful sights, which visitors and guests may find extremely difficult to forget. Besides being centrally located and attracting a a lot of foreign and local visitors, the London ships could also rightfully take its place in Britain local landscape and historical architecture for a long time to come. Critical appreciation and recommendations for London SHIPS: In the years to come, it is widely believed by the think tank and administrators in UK that the London ships would be a major tourist attraction, especially for tourists coming in from different parts of the globe, including Asia-Pacific region. However, there are two main aspects that need to be considered – Firstly, the security of these contemporary artifacts of ancient history and secondly, crowd management especially during holidays. Security needs to be beefed up to the extent available at any major place of public interest and attraction and also there needs to be a well planned and modulated crowd management mechanism which could handle emergencies of any severity or dimension. Works Cited Bell, John. London Ships. YAD Trust. Web. 18 Aug. 2010. . Discover London’s Maritime Heritage with Flook. Flook. 2010. Web. 18 Aug. 2010. . Ideas to Promote New Products-Media & Marketing Implementations. Brand-New-Adverticing.Com. 2009. Web. 18 Aug. 2010. . Kotlinikove, Vadim. Environmental Analysis Defined. Strategic Analysis of the Business Environment. Web. 18 Aug. 2010. . Lala, Mohammed Farooq & Bhat, Anisa Mansoor. The Prospect of Developing Kashmir as an Adventure Tourism Destination. South Asian Journal of Tourism and Heritage. 2008. Web. 20 Aug. 2010. . London, International Trade & Maritime History 1560-1960. Cutty Shark. 2009. Web. 18 Aug. 2010. . Market Segmentation in Tourism. TASK. 2002. Web. 18 Aug. 2010. . Pilinkiene, Vaida. Forcasting Environment and Its Factors When Assessing the Competitive Market Demand. Economics & Management. 2009. Web. 18 Aug. 2010. . Shipshape Network Goes Live. National Historic Ships. 2010. Web. 18 Aug. 2010. . Ships of Historic Interest Partnership. London’s Ships. 2010. Web. 18 Aug. 2010. . The Willington Trust. The Willington Trust. 2006. Web. 18 Aug. 2010. . Read More