MKT301 - Principles of Marketing SLP - Essay Example

details Marketing Strategy for Comfort Cabs Business of the business Comfort Cab service is an individual small-scale business that is aimed at providing the services to the citizens around the Seattle area. In addition, this company will extend its scope to target the tourists who frequent this region. Therefore, the services to be provided by Comfort Cabs will be inclusive of travel agency in this sector that has been marked to be one of the rapidly growing sectors in the economy. In addition, Comfort cabs aims at capitalizing in planning for the travel as a way of the exploring unlimited business opportunities that are available in the northwest region of the Pacific.

The mission statement of the company The mission of Comfort Cabs is to emerge as the main adventure vocation providers together with cab services in the whole country. Comfort Cabs is dedicated towards ensuring that it builds a long lasting and continually beneficial relationship with the customers. This will be enhanced by ensuring that its staff receives quality training coupled with customer support. The objective and goals of Comfort Cabs The company’s goal is to uphold a steady growth which will give rise to a steady expansion.

Through this process of continuous growth, Comfort Cabs aims at ensuring that profitability is realized by the second year of its operations. Although the company is expected to incur large costs in the initial year of operations, its objective is to ensure that these costs will be offset by an increasing profitability by the third year which will prompt continuous expansion. Self analysis As the sole proprietor of this business, the major challenge is having the appropriate skills that are required maintain a continuously growing business.

Having previously worked in a similar organization, I have developed the relevant skills and abilities that have helped this business grow for the last two months since its initiation. In addition, the business administrative skills, marketing, and financial analysis skills are very resourceful in a newly growing business. With my marketing knowledge, I am clearly able to understand the market demands, customer behaviors, the competition swings, and the required incentives through which the new customers can be attracted for our services while at the same time maintaining the existing ones.

Market environment analysis From the field research that I conducted prior to drafting of the Comfort Cabs business proposal, it is apparent that the adventure business has a considerable potential. From these previous field researches, it has been observed that this business may encounter some difficulties in obtaining the authoritative and reliable destination and activities advice. In addition, it has been observed that the customers in this market are less likely to purchase their vacations again from the last provider solely because the company lacks the informative sales personnel.

Therefore, these are some of the needs that Comfort Cabs will have to cater for coupled with development of a customer base based on strong return. Customer analysis The Comfort Cabs targets the customers in the Seattle region together with those visiting the region as tourists. The Seattle region contains a population of skilled, highly learned, financially stable, and productive customers. In addition, this area contains the individuals that have for a long time developed a strong attachment to the region coupled with development of a tendency to wait for the improvement of the economy that has previously been characterized with downturn.

This Northwest vital economic lifestyle is perceived to have the inimitable environmental qualities through which the customers can be attracted. Within the Seattle population, Comfort Cabs has targeted the professional individuals whose income rages from $35,000 and above, within the age bracket of 20 and 40 years, married, single, divorced, without children, and educated. Competitive advantage analysis Based on the fact that Comfy Cabs is the only cab business that is targeting the adventure vacations in the Seattle region, a substantial opportunity opens for the Comfort Cabs in dominating this entire region.

However, if their current position in the business has to be maintained and improved, Comfort Cabs will have to invest in websites, together with the systems, and software database. In addition, the company will have to refurbish the office premises to maintain the competitive advantage in this region. Target segments Comfort Cabs Business is built under the conviction that by basing its concentration in one geographic destination together with one segment, it becomes very easy to ensure that the services are delivered in a manner that is superior to any other business that has been established in any business field (Gooderl 636).

Generally, the published researches have clearly demonstrated that tourism is a sector that is receiving rapid growth. In addition to this business being located in the Europe, is stands to benefit from the highest favor that has been directed in this location. Besides targeting the travelers that are on adventure mission and working as an agent that is appointed for the tour firms that have already been fully established, Comfort Cabs has the plan of ensuring that its business is leveraged with the sister business; the Comfort External Clothing Exhibition.

Work cited Gooderl, Justin. “Small Business Management: An entrepreneurial emphasis”. Small Business Resource Center. Ohio: Cengage Learning. 2006. Print. : 34-178