Globalus Travel Company Marketing Plan - Case Study Example

Globalus Travel Company Marketing plan Executive summary Globalus travelling company was formed to provide travel packages with fashionable accommodations, dabbed Holiday to live for. The packages emphasise more adventures, free time and cultural immersion to younger clients. An opportunity for this travel company exists since the countrywide tourism and travel industry is growing at 4% and adventure travel is estimated to be growing at an estimated rate at 10% annually. The Globalus Travel Company packages targets the Northwest, more specifically the great Woodville adventure travel market which is growing at an annual rate of about 12%, and there are know providers who specialized solely in adventure travel in the greater Woodville area. Globalus Travel Company is poised to take full advantage of this growth and lack completion with an experienced staff, excellent location and an effective management and marketing. The company’s objectives for the following three years are To realize sales of $ 750,000 by year three To achieve an 11% increase on sales from the internet Development of strategic coalition with service providers internationally and in the Woodville area is important. Virtually all companies that appeal to youthful and more active travellers provide hard adventure activities appeal to lower income customer (Bly, p.29-33). Companies that appeal to wealthier customers provide soft adventure package. The hard adventure involves difficult physical requirements, as they carry higher level of risk than the soft activities. Soft adventure may involve physical exertion. However, they involve a low rate of risk and engage in by non-athletic people. The company packages targets consumer with a high income, those that are health conscious individuals interested in popular hard adventures. These are lawyers, bankers, doctors and executives members in this society. The major purchases are based in urban areas within the united cities of the United States. A big number of our clients are more likely to be married, with a 52% being men while 48% are women (Bly, p.50-53). The market has lately witnessed increased demand and has grown rapidly over the years. In addition, more niche markets are evolving. Initially it proves difficult to compete with experienced providers, more especially the market leaders (Bly, p.70). On the contrary, the Globalus Travel Company’s target market is an exploitable place and our service is differentiated from our potential rivals. The target market will have similar activity benefit, more throwaway income and less sensitive to price. Package proposes a luxury service with prestige value. Our prices will be of rich to majority of adventure travellers. Our price will be based upon luxury competitor’s price and smaller value added to cater for our offer. Similar providers offering luxury services offer higher prices to what we offer on this package. We are competitively fee in a luxury market, since we do appeal to comfort thus the market tend to be smaller as selling capacity will be limited. On the contrary, we are expected to capture a higher gross profit margin. Situation Analysis Globalus Travel Company has been operating for several years now. The trips have been well received and marketing is working on critical to its evolving demands for the firm’s success and future profitability. The firm offers high-end hard adventure trips, the basic market requires a hard adventure trips for the wealthy customers. The target market has been appreciating on the upscale accommodations, foods and personalized attention. The firm has scheduled several trip offerings in its package. Market Summary Globalus Travel Company posses extensively good information concerning the market and knows a great deal about the common quality of our most prized and reliable customers. The firm management is ready to leverage this information to abetter understanding of who is served, their specific needs and how it can better connect with its customers. Market needs The Globalus Travel Company avails to its customers a wide selection of hard adventure trips. Virtually all firms on this market that provide hard adventure activities appeals only to wealthy clients, contrary to Globalus Travel Company target of young active clients who can afford the luxurious packages offered. This appeal to both low and wealthy clientele on general providing a soft adventure packages, as hard adventure involves difficult physical requirements. They bear a higher intensity of risk than the soft exploration do. As soft adventure activities involve some physical extortion, but with lower level of risk involved and may engage the non-athletic people. The Globalus Travel Company targets to fulfil the following benefits which are important for attracting more customer base. a) Offer a wider selection of different hard adventure trips b) Customer can be located at any place as long as they have access to airport c) Although Globalus Travel Company offers competitively higher prices on the market, availability of luxurious service with prestige value is priced competitively within the few other providers in the market providers. Market Trends The market industry has developed an upward growth mode. This has several reasons to explain the increase. The growth is well contributed by a healthy domestic economy for several years, while devolution of currency in other region has made travelling less expensive for the US residents. For instance, pleasure travel has recorded an increased rate of about 3.2% way back in 2007 and is predicted to grow by 2% in the following periods. In addition, the healthy economy is responsible for increased business activities further encouraging domestic business travel which is rated to have increased by 4.8% in 2007 with an estimated future growth of about 3.6% annually. Market Growth In 2007, adventure market generated $6.9 billion dollars. The market is poised for growth. The growth is attributed to several factors including, an increased appreciation for travel adventure. More people have recognised the value of spending their free time a way from home, in particular engaged in activities that they can enjoy. Furthermore, the Americans work for longer hours, they are also looking for an adventure travel vacations which offers a release from their daily work. When taking time off duty, they choose an activity that they thoroughly enjoy since the vacation is infrequent. SWOT Analysis Below are some of the SWOT analyses that capture the potential strengths and weaknesses within Globalus Travel Company, and describes the opportunities and threats facing Globalus Travel Company. Strengths An excellent staff who are highly skilled and very customer considerate Has a high customer loyalty among repeat customers The business offer unique packages with high end, service offering Lower customer to employee ratio Weaknesses The firm has a challenge in finding employees who posses the required skills and customer-centric attitude. The struggle to continually offer new and exciting trips while maintain the level of quality that has been established over time from prospective trip offerings. The firm has a challenge in developing a huge customer base located throughout the US, as the situation preventing Globalus Travel Company from in-person communication. Opportunities A rising market that has to be effectively viewed in the Woodville region that has to be potential tapped for increase services sales. The market has fewer rival providers serving in this place that offer similar packages to that of Globalus Travel Company. An increasing number of youthful professionals with the current dotcom bang, this makes it easier to sale our packages to them as they are ready to spend on adventure trips and are actively ready to engage in hard physical travels. The potential to increase permanent administration overhead expenses over a growing figure of presented trips. The strategic vocational target provides a possibility for more willing customers at long run, this creates the possibility to increase revenue raised through package sales to meet the general firm’s expenses. Threats A fall in the market will have an effect on the travel business, since there are several firms operating in the same market, tendency of increasing completion may ultimately threaten Globalus Travel Company’s plans of increasing market share to maximize on package sales. The rising number of terrorists acts, restrains Americans perception on safety when travelling, whether on a domestic market or overseas. A number of terrorism activities has damaged the performance of this industry over the years and still remains a threat towards growth of adventure travel in most remote regions of the targeted area. This is a case that Globalus Travel Company management has to actively involve safety measure to their clients through incorporating government security measure in support of tourism in the country. Presence of other adventure travel provides in the Globalus Travel Company market. This posses a possible threat in reducing the market share, as they compete for dominancy Part 2 This profile provides an overview of the current developments in the tourism ratings and recommendations space. Globalus Travel explore all promotional possibilities in maximising on sales, media is one model used to offering an outlook for an improved customer target reach (Luther, pg. 120). While there is know doubt affected by the global financial downtown and reduction in travel and sporting tourism, travelling rating and recommendations remains important and perhaps this can be well explained by the reduction in disposable income which has resulted to consumers becoming more and more decisive and sensitive product being offered. The cumulative word of mouth from thousands of tourism fair travellers that the firm provides certainly has a substantial influence on their users. Destination Travel Sporting Event Globalus Travel management forecasts that by 2020 the total international travels will rise to an estimated 1.6billion. For the period to 2012 the management expected expert earnings amounting to 27 billion dollars. Globalus Travel tourism turned to media tourism promotion in fostering relationships with young energetic travellers while also targeting the older individuals among the Australian society. This was enhances through a series of giveaways, offers and promotions in which the Globalus Travel firm attracted interested travellers around the world. One such promotion included an event scheduled to include Chicago cubs spring training gateway, this encouraged more people to enter for a chance to win tickets for other Globalus Travel upcoming game events, along with travel vouchers. The Globalus Travel management wanted to establish a more cost-effective way of advertising these events. This had to ensure wide exposure in targeting audience (Luther, p. 98-100). Globalus Travel turns to Facebook advertising though crafted corresponding, keywords to optimize and help promote the event offers. This was relevant in engaging the audience Service offering Globalus Travel Company is positioned itself in place that offers hard adventure within the target market. The firm will offer extreme travel packages in the sporting trips. For the initial stages Globalus Travel Company will offer seven trips that will include helicopter-skilling trips to South Africa, France, India and New Zealand. While the mountain biking trip will target a great divide from Costa Rica, Mexico and Montana. The main target market will involve young professionals who work and play hard. As this group of people can afford to play expensively and are willing to spend and buy time in form of services we are offering. Globalus Travel Company will serve the hard adventure market place as one of the top quality and a full service provider. Globalus Travel Company defines quality as per the unique features of the services offered. They include booking group trips, assistance with passports, provision of top line equipments and supplies, with a powerful service offered with access to tough terrain, luxury accommodation and entertainment among other services (Luther, p. 99-105). Key to success of a business Using a combination of ongoing analysis Globalus Travel Company determines the popular key ward, trend and element which resonate strongly with audience. This is used to optimize and shape the firm’s events gateway massaging. The media advertising serves Globalus Travel Company a crafted correspondent, here the visitors to the page were prompted of the to enter the contest by making a request of an official state visitors guide and sign up periodical newsletters that concern Globalus Travel and sporting tourism. Globalus Travel Company Media Marketing Achievement The facebook advertising proved to be a very successful vehicle in promoting the travelling tourism in the entire identified sporting destination (Luther, pg.101). It is estimated that in a bout two weeks, the advert had reached more than 2.5 million visitors on facebook at a cost of $750. In addition the facebook advertising made a firm’s return of: a) Double the estimated turn out b) 29% of the estimated rate for the official event visitors guide requests c) 18% of the conversion emails newsletters opted in Customer’s attention, the firm management is ready to offer customer experience that will in future work as its service advocacy to the rest of the targeted markets for willing customers Luther (p. 155). This is portrayed in the quality of skills in the Globalus Travel Company staff members, as staff attention in handling client’s inquiry and needs remains the main objective for customer satisfaction. Critical Issues to Globalus Travel Company management Exploration excursions packages are still in the speculative stages as service provider and its critical issues are dabbed to be a continued take in moderating fiscal approach, the firm’s service is expanding at a reasonable rate not necessarily for the sake of expansion but it’s economically wise to explore and expand the industry Luther, (p. 188-193). Globalus Travel Company marketing and whole management segment, are keen on building a brand awareness that will attract more customers to maximise the service package that can cater for incurred costs, and further relief the firm from breaking even. Works cited Bly, Robert. The Marketing Plan Handbook: Develop Big-Picture Marketing Plans for Pennies on the Dollar. London: Entrepreneur Press, 2010. Luther, William. The Marketing Plan: How to Prepare and Implement It. New York: AMACOM Div American Mgmt Assn, 2011. Read More