Marketing Plan for Carry on Cruising Ltd - Case Study Example

Table of Contents 1.0 Executive summary 2 2.0 Situation analysis 2 2.1Market summary 2 2.2 Market needs 3 2.3 Market trends 3 2.4 SWOT Analysis 4 2.4.1 Strengths 4 2.4.2 Weakness 4 2.4.3 Opportunities 4 2.4.4 Threats 4 3.0 Objectives 5 4.0 Strategy 5 5.0 Action 6 5.1 Marketing strategies 6 6.0 Business and marketing tactics 7 6.1 Newspaper and yellow paper advertising 7 6.2 Direct mail marketing 7 6.3 Internet marketing 7 6.4 Group business marketing 8 6.5 Event marketing 8 7.0 Budgetary allocation 9 8.0 Controls 9 8.1 The implementation 10 8.3 Marketing organization 11 8.4 Contingency planning 11 9.0 References 12 1.0 Executive summary Carry on Cruising Ltd is considered as the fastest growing business in London. The company has incorporated the use of whilst leisure boat trip on River Thames which have been operating for many years. Its ability of offering focused and different products within predesigned market segments has widely convinced the firm stakeholders that there has been substantial growth coupled with profitability within its defined market. Currently, the company is able to accommodate an approximate figure of four million passenger within London which is a small figure compared to Paris where it is considered to have an extensive network of services. Carry on Cruising Plc mission is to expand its business operation in the next five to seven years. This will be achieved by offering differentiated products to its various market segments within its market. Today, the company operates fifteen leisure boats along River Thames with an additional restaurant boat which usually provide meals during the day. This boat is permanently anchored on the London embankment. 2.0 Situation analysis Carry on Cruising Plc has widely recognized that various marketing activities are very essential to the success and profitability defined within its business operation. The company offers a wide selection of services that are coupled with leisure activities thus creating a basis in their market need (Bly 2010). 2.1Market summary Carry on Cruising Plc have come to recognize the increased growing rates for leisure cruises and its wider ability to come up with a better profit margin from its market and customer base (Bly 2010). The company differentiated services and products offers greater and better communication background to its targeted market segments. 2.2 Market needs Carry on Cruising Plc is ensuring that it provides its customers with a broad selection of services ranging from variety of meals and leisure activities on these boats. These varieties of services were widely designed to ensure that both customer and company needs are met. Selection: customers who are mainly tourists’ demand are met immediately since the company has fifteen offices located along River Thames. Quality: quality food and services are offered since the company has hired staffs who work on temporary and permanent basis to ensure smooth running. Customer services: it is evident that most customers want to patronize companies that have a good customer service. Carry on Cruising Plc ensure that both in peak and off peak season customer services are maintained in their level best. 2.3 Market trends London is considered as a major tourist destination for foreigners’ visitors, together with a substantial in the population growth within this capital, market trends display signs that assure that the growth looks promising (Cohen 2006). This is further made promising due to the forthcoming Olympic Games in 2012 which will automatically see a surge of visitors with an interest of wanting to explore London within this short predesigned time. 2.4 SWOT Analysis The following SWOT analysis will capture key strengths and weakness within Carry on Cruising Ltd and it will further describe opportunities and threats that might affect its operation (Gelder & Woodcock 2003). 2.4.1 Strengths Its ability to recognized the growing trend in leisure industry thus greater profit margins Good customers services both on peak and off peaks described by its ability to recruit more temporary workers during peak seasons to support permanent staff The company displays the ability to scale higher as its sale increases tremendously Effective and efficient service delivery providing the company with above average margin (Cohen 2006). 2.4.2 Weakness Lack of awareness in identifying various profitable growth opportunities Lack of ability to deal with the double challenge of growing the business profitably not forgetting defending its market position against its potential competitors. 2.4.3 Opportunities Provision of differentiation by way of enhancing both convenience and service attributes An efficient growth of business model within the tourism service industry Increased sales and new customer relationship created in the on the forthcoming Olympic games in 2012 2.4.4 Threats Due to increased population within London, there is constant aggressive competition from other companies Increased government regulation emerging from constant issuing of licenses controlled by government authorities (Gelder & Woodcock 2003). 3.0 Objectives The following are considered as the main objectives of Carry on Cruising Plc; Redefining of London leisure and tourism sector and market place Protecting its position as London fast growing business Increasing its percentage sale volume through incorporating more tourist to visit their offices and have a ride using their boats Increase on its modern fleets equipments and the company staffing so as to provide a platform for the business to grow and expand 4.0 Strategy Carry on Cruising Ltd is widely focusing on redefining the tourism and leisure marketplace. It strategy of using modern fleet equipments and a good staffing base provide a stepping stone for the business to grow and expand. Operating on licenses has ensured that the company is able to facilitate its future planning thus building on a successful company (Pride & Ferrell 2011). Their ability of recognizing the constant growing trend for leisure cruises has enabled the company to obtain a better margin of profit which is coupled with a large consumer base. The company strategy does not only lie on current projection but also future projections where it is strategies on increasing sales by focusing on the forth coming Olympic games which will be held in London in 2012. Further, through providing differentiated products and services the company is guaranteed of significant growth in their market segment thus increasing on its profitability. By so doing the company has been considered to be the fastest growing business as it looks to expand its business within the next five to seven years (Pride & Ferrell 2011). The long range of Carry on Cruising Ltd goals does not only dominate in providing leisure activities but rather to come up with an iconic brand amongst its many competitors. Initially the company anticipates to; Building on a successful company through operating on licensing thus facilitating future organizational planning Further, the company anticipates that it will be able to cater for more than 1400 individuals who wish to purchase a meal on boats not forgetting its ability to transport over four million individuals per annum 5.0 Action 5.1 Marketing strategies Carry on cruising plc will identify core luxury suppliers like the O2 Arena. This will enable the company to maximize the business with the cruise and land core luxury suppliers. The identification of core suppliers to partner with will enable the firm achieve greatest potential levels of commission. In addition to this, the firm is to enhance and utilize integrated potential mix that consists of elements that will enhance potential customer awareness on the firms operations thus, being able to boost the sales. Elements that the firm is to use to boost the customer awareness include; advertisements on the internet, yellow papers, news paper direct mails and event marketing (Kurtz 2007). 6.0 Business and marketing tactics 6.1 Newspaper and yellow paper advertising Carry on cruising will explore advertisements on news papers to promote its luxury group cruises and tours. The firm will be able to create awareness of its services and destinations and other prospects that the company is to future in. among the awareness the firm will create will include the escorted groups and specials that the firm is to provide on its cruises in the different winter, fall and spring seasons. In addition to this, carry on cruising plc will run adverts on the yellow pages in the River Thames area, the London Embankment, Paris, major London area and the millennium dome to emphasize its luxury cruise capabilities (Weaver 2005). 6.2 Direct mail marketing Carry on cruising plc will utilize customary direct mail postings cards in addition to flyer mailings to promote its special exceptional escorted luxury cruises. The firm is to frequently issue newsletters to customers and selected business prospects on quarterly basis. The newsletters are to promote the firms products and inform the customers and future selected prospects on their destinations and the new products that have been put on board (Peisley 2004). 6.3 Internet marketing Carry on cruising plc is to develop a worldwide internet site and obtain a domain name that the firm will use to promote its hot deals in addition to its destinations. The company is also to update the customers and prospects on the exceptional produc6t that the company offers that makes it stand out from the rest of its competitors. The firm is to develop its website to have an attractive appeal to any browser. In addition, the site should be easy to use and access by any new user. The products advertised on the website should be in different languages that will make it easier for persons to understand and be aware of the firm’s products. The firm is to venture on in to other social networks like twitter and face book to increase its customer base (Wood 2000). 6.4 Group business marketing Carry on cruising is to develop a database of decision makers that are vital to their firm. the firm is to make contacts with them as they will be able to assist in the giving of advice in the best possible ways of running promotional adverts in the selected out of town dailies and weekly newspapers. The decision makers will be able to advice the firm on which advertisement methodology is appropriate and which destinations are more popular for the firm to venture in as they aspire to expand their company. The key decision makers that the company is to consult include; sales managers, travel planners, incentive planners and group leaders (Miller & Grazer 2002). 6.5 Event marketing Carry on cruising plc should make it a priority to hold annual customer appreciation events in the regions surrounding the London Embankment and the millennium dome. This is to be done in collaboration with the customer agencies in destinations that they intend to expand their horizons to. The event can be a good venue to create awareness on their futures products in addition to the services and products they already offer (Moutinho 2000). 7.0 Budgetary allocation The company is to allocate £ 250,000 annually to cover for the marketing and expansion activities: Item Cost Dailies and yellow pages £4000 Development and updating of the website £ 95,000 Event marketing £ 15,000 Expansion costs £ 114,000 Contingencies £ 10,000 Direct mailing/ news letters £ 12,000 Total £250000 8.0 Controls The purpose or the Carry on cruising market plan is to act as a guide to the firm in its expansion prospects. The following areas will be tracked to gauge the firm’s performance (Peisley 2004). Customer costs Customer satisfaction Advertisement costs 8.1 The implementation The firms identify the following as the key milestones in their marketing program. The out lined goals have to be followed closely. Activity plan Activity Jan Feb. March April May June July Aug Sep Oct Nov Dec completion of the marketing plan X Internet advertising X X X X X X X X X X X X Dailies and yellow pages X X X X X X X X X X X X Event marketing X X X Group business marketing X X X X X X X X X X X X Direct mail marketing X X X X X X X X 8.3 Marketing organization Carry on cruising plc will in collaboration with the staff be responsible with the marketing planning. 8.4 Contingency planning Difficulties and risks are anticipated along the way as the firm implements the plan (Moutinho 2000). These include: Difficulties and challenges in the generating of visibility Development of appropriate software for the internet advertising Encountering an immature market which is not ready to comply with the efficiencies of the firm will offer through the internet Inadequate capital to facilitate the prospects and marketing strategy Having to dispose off some of the assets to cover for liabilities. 9.0 References Bly, R. 2010. The Marketing Plan Handbook: Develop Big-Picture Marketing Plans for Pennies on the Dollar. Retrieved on 4th May 2011 from http://www.worldcat.org/title/marketing-plan-handbook-develop-big-picture-marketing-plans-for-pennies-on-the-dollar/oclc/535686418 Cohen, W. 2006. The marketing plan. Hoboken, New Jersey: J. Wiley. Gelder, D & Woodcock, P. 2003. Marketing and promotional strategy. Cheltenham: Nelson Thornes Kurtz, L, 2007, Contemporary Marketing: Thomson South Western. Miller, A, & Grazer, W, 2002, 'the north american cruise market and australian tourism', Journal of vacation marketing, vol. 8, no. 3, pp. 221-34. Moutinho, L, 2000, 'consumer behaviour', in Strategic management in tourism, ed. L. Moutinho, CABI Publishing, Glasgow. Peisley, T, 2004, 'crystal cruises: picking the higher ground', International cruise & ferry review, pp. 60-2. Pride, W & Ferrell, O. 2011. Foundations of marketing. Mason, Ohio: South-Western Cengage Learning Weaver, A, 2005, 'the mcdonaldization thesis and cruise tourism', Annals of tourism research, vol. 32, no. 2, pp. 346-66. Wood, R, 2000, 'caribbean cruise tourism. globalization at sea', Annals of tourism research, vol. 27, no. 2, pp. 345-70. Read More