MARKETING IN TRAVEL AND TOURISM
Travelling aj tourism industry is the most promising sectors that employ high economy for the country. However, this industry is the most affected one, especially during global regression. The following report discusses the core concepts and principles of marketing in traveling and market sector. The major goal of this industry is managing the needs of the customers and implementing certain ways that will enhance and satisfy majority of customers. Therefore, in order to gain profit, it is the duty of the industry to evaluate the loopholes in the industry and to strategize that will enhance the economy of the country. The report also discusses the micro and macro environments and their impacts on the travel industry, especially on the Thomas Cook groups. The industry wishes to travel to Morocco and Greece and in those areas, the marketing environment plays a crucial role. Henceforth, before traveling the industry need to evaluate and gain information with the help of marketing research that will ensure high profit of the company. Even the impact of global economy and internet and even social media will also be discussed in the following report along with the principles of market segregation. Moreover, SWOT analysis has a major role in analyzing the loopholes in the industry and effective strategic marketing planning and its applications will also be discussed in the following report. Finally, a concept of total tourism and the role of the promotional mix will also be discussed in the report.
Marketing and marketing mix have an essential role in the tourism and traveling industry. The main aim of this unit is to analyze the key concepts and principles of marketing and even marketing mix. This unit will analyze the role of marketing in traveling and tourism industry. The following unit will explain the impact and individual influence on travel and tourism business and even tourists destinations. There is several factors affect customer motivation and these will be analyzed in this unit. Furthermore, understanding about the role played by market in travel and tourism industry will also be explained in brief. Similarly, marketing has an influence on society and thus will be discussed in this unit. Product, pricing and tourist place have an impact on the tourism industry and its impacts and influences on customer attraction will also be discussed along with individual tourism business. Individual tourism business has a definite impact on the businesses and its influence will be mentioned in the following unit. Furthermore, a promotional mix can be used in traveling and tourism industry and a justification of integrated promotional campaign will also be discussed in the following unit.
LO1. Understanding the key concepts and principles of marketing in traveling and tourism industry
P1.1 Discussing marketing core concepts for travel and tourism sector
The main criteria of marketing are identifying the needs and demands of concerned groups. After analyzing and evaluating the demands and needs of the segmented and targeted groups, those needs are required to be fulfilled in order to gain profit in an industry (Morrison, 2013). Henceforth, in order to gain profit by any industry, it is essential to meet the needs of people. Travel and tourism industry is one of an essential sector that can earn a lot of profit if implemented properly. It is essential for the company to implement certain strategies and ways that will enable the company to understand market thereby profiting out of it (Becker, 2016). Nowadays almost majority of the countries are focusing on this tourism industry in order to uplift the economy of the country. This enhanced economy will, on the other hand, will benefit the country.
The travel and tourism sector need to implement certain marketing strategies that will provide and bring an economy to the country (Truong and Hall, 2017). In order to prosper, the tourism sector needs to implement create certain networks that will enable the sector to achieve more. There are certain principles and ways that will enable the industry to bring profit and thereby earning a lot of profit.
P 1.2 Assessing marketing environment impacts on individual travel and tourism businesses within Thomas Cook Group and tourist destinations
Marketing environment directly or indirectly impact and influences individual business and affects business activities. In order to ensure a positive business, the marketing environment needs to be changed frequently. The rate of success or failure of any organization largely depends on the change in environment. Therefore, in order to maintain a positive business, it is essential to constantly monitoring the environmental change so that in case of any change the company can take steps in order to manage the change and ensure a positive economy of the country (Xiang, Magnini and Fesenmaier, 2015). The marketing environment has two basic environments namely macro and microenvironments. Henceforth in case of Thomas Cook Group, they should not only focus on the internal environment but even the external environment also impacts the overall business profitability. As marketing environment has a great impact on the business operations, therefore, Thomas Cook Group focuses and provides importance to the marketing group.
Thomas Cook Group can only expand if they use effective marketing tools that will promote tourism in the country. The management of this tour group in this summer wishes to visit Morocco, Egypt, and therefore before traveling in those countries, the company need to monitor the environmental factors that are prevailing in those areas. Advanced monitoring will ensure that the group implements certain strategies that will prevent them for being impacted by the marketing environment while promoting a good financial output (Xu et al. 2016).
P 1.3 Discussing the effects of consumer motivation factors and demand in the travel and tourism sector
There is several factors provide motivation to the customers and these are as follows-
Global economy- Most of the people consider traveling luxurious especially for people who earn less or struggle in earning (Standing, Tang-Taye and Boyer, 2014). Recently it has been noticed that due to lower monthly earnings, the economy of the country is the most affected and it is the tourism industry that gets affected the most. During an economic crisis, a majority of the people concentrate on saving money rather than spending on travel. This affects the tourism industry as a result the entire economy of the country gets affected. In 2009, it has been seen that the global tourism and traveling industry saw a downfall of about 5% (Choo and Petrick, 2015). This occurred due to global regression and therefore, the global economy affected the tourism sector.
Internet and social media- Nowadays internet is an essential sector that is accessed commonly by majority of people. Most of the people after traveling some areas can provide feedback about the traveling experiences dm even about the place (Pike and Page, 2014). These reviews attract many people and it has a positive and negative side. If any group has a good experience with travelling agency then they will write good reviews that will increase the economy and attract more customers. However, if the group has not experienced well then their reviews will refrain customers and they will not use that particular travelling agency or not view that particular areas (Leung, Xue and Bai, 2015). This influences the economy of the country as well as decreases the profitability of the tourist or traveling agency.
Individual budget- this is another aspect that promotes and impacts customer decision. In Spite of financial crisis or regression, there are many customers whose travelling is a passion (Liu and Chou, 2016). This has a positive impact on the economy of the country and will positively impact the tourism industry.
P 1.4 Analyzing principles of market segmentation and its application in market planning at Thomas Cook Group.
There are certain methods that induce a market to segregate. So many factors that induce a market to segregate include environment, demographics and even socioeconomic factors (Mariani et al. 2014). The factors that analyses the applications of market segregation in marketing are as follows-
Accessibility- This is an essential feature plays a pivotal role in segmentation of marketing (Oromendía, Paz and Rufín, 2015). Thomas Cook group cannot look after the demands and needs of people who are present at the other part of the country. In such cases, market segregation is essential.
Features- Thomas Cook group need to implement market segmentation in order to meet the features of the company. It is essential to meet all the needs of the company to ensure high-profit output of the company (Hays, Page and Buhalis, 2013).
LO2. Role of marketing as a management tool in travel and tourism
P 2.1. Analyzing the importance of strategic marketing planning for Thomas Cook
It is essential to implement strategic marketing planning for any company in order to have earn profit. This strategic marketing planning is advantageous as it enables the company to analyze the loopholes and effectively augment the growth and spread of the company internationally (Thakran and Verma, 2013). The following are the benefits of strategic market planning of Thomas Cook groups-
The strategic planning enables the company to understand and to implement certain ways that will provide direction to the company.
This planning also helps the Thomas Cook groups to eliminate activities are unproductive and ensures a loss of money. Therefore, with the help of strategic planning, the company can evaluate the activities that cost them more money thereby curving out those activities form the schedule (Gregori, Daniele and Altinay, 2014).
This planning also ensures deepening of knowledge and to have more knowledge so as to meet the customer satisfaction.
It is essential to understand the product lifecycle by the company in order to promote greater profit of the company (Dolnicar and Ring, 2014). Similarly, it is also necessary to do SWOT analysis of the company in order to understand the strengths, weaknesses, opportunities, and threat.
P 2.2 Discussing the significance of market research and marketing information to managers of Thomas Cook Group
In order to understand customer choice and preferences, market research is essential. In case of the tourism sector, market information about the condition is essential and it provides guidance to the company. It is essential for the company to identify marketing research before investing in some areas.
It is essential for the Thomas Cook Group to identify the significance of marketing research. Currently, there are huge information that are available at the market and it is a duty of the Thomas Group to utilize these information in their way (mintel.com., 2017). Research information if used in an effective and efficient way will help the company to flourish. This effective way of utilizing the information not only enables the company to expand but also enables to compete with other companies.
The managers working in this sectors are responsible for proper utilization of research information for the benefit of the company (Bbc.com., 2017).
As per the tourism trends, more information are available in the markets and it is the responsibility of the managers to employ this information for the benefit of the market (Cim.co.uk., 2017).
Research also enables had better understand the new trends in the travel industry and it enables better understanding about the potential competitors.
P 2.3. Assessing the influence of marketing on society
Both society ban marketing is essential and are dependent on each other. Marketing is not possible without the help of society. Marketing is an area that involves forecasting and identifying the needs of the customers to provide customer satisfaction. As per Dolnicar and Ring (2014), marketing bridges a gap between the customers and the industry. Promotions and advertisements are the commonly used tool in marketing that influences a majority of the customers. These tools effectively attract and influence the customer's demands and attract them. According to Gregori, Daniele and Altinay (2014), marketing makes the society more vulnerable to promotion can adversely affect the minds of a child. However, Thakran and Verma (2013) argued that marketing forms an intricate part of society and there is a direct link between the two. Promotion and advertisements can promote a business to expand and spread overseas and be recognized in a society.
LO 3. Understand the role of the marketing mix in the travel and tourism sector
LO 3.1. Discussion of the issues in the product, price and place elements of the marketing mix
The marketing mix is an essential factor in a business. The several elements of marketing mix are detailed as below-
Product- this is an essential factor as depending on the products, a company earns a profit. Selling of products bring money to the company and therefore in case of any company, product monitoring us of utmost significance (Hays, Page and Buhalis, 2013). The company needs to focus on the products on both purchase and selling of products. These many issues arise during the launching of any products. The most important and essential issue is a target market. These products are made for these target markets. The products should be positioned in a market in such a way that will attract customers and promote further sell of the products.
Price- This is another essential factor attracts more customers thereby promoting more economy of the company (Oromendía, Paz and Rufín, 2015). In case of travelling and tourism, this pricing is an essential criterion that should be considered by the managers of the tourism industry. The pricing range should be kept in such a way that will promote and mediate more customers thereby improving the economy of the sector.
Place- Place is an essential factor of the marketing mix and it is the area where products are available (Mintel.com., 2017). In case of travelling, a place is a major criterion that will attract more customers. Therefore, marketing place should be kept in mind in order to promote hiked up an economy of the company.
Promotions- Promotion is an essential factor that will attract a majority of customers. Any tourism industry needs to be promoted well in order to spread the information globally (Thomascook.com., 2017). Some of the issue of promotion includes a budget for promotion and legal rules.
LO 3.2. Assessing the importance of service sector mix elements to the travel sector
The marketing mix of service sectors are essential and important and play an essential role in market design. In case of travel and tourism sector, effective services are essential and it attracts more customers (Liu and Chou, 2016). For instance, in any travelling agency if the services are not appropriate and effective then customers will not be attracted. More the efficacy of services more will be the number of customers. Henceforth, effective services are essential criteria that attract more customers thereby enhancing the economy of the county as well as for the industry.
LO 3.3 Applying the concept of the total tourism product to an individual tourism business
The entire tourism involves planning the whole trip, covering all essential destinations and in doing so all the essential criteria, including the total budget should be kept in mind (Leung, Xue and Bai, 2015). While doing so, all essential criteria like customer's money and covering destinations as per recommended by the customers should be kept in mind. Furthermore, in this total tourism, the travelling along with accommodations should be kept in mind.
LO 4. Use of promotional mix in travel and tourism
P 4.1. Assessing the integrated nature and role of the promotional mix
The following are the uses and applications of promotional mix-
Advertising- This includes promoting the services and products of the company. The effectiveness of these promotions will facilitate more sell of the products while in this case o travel and tourism industry, effective promotions will ensure that the customer gets information about the industry (Pike and Page, 2014). This is the major aim of promotions to spread knowledge and instructions regarding the industry to the customers. Some of the examples of promotions are the use of leaflets, posters and in radios. Even media is an essential area for promotion and advertisements (Choo and Petrick, 2015).
Sales promotion- These factors involve the use of media where information are preached and spread to the customers. In case of the travel industry, the managers promote various sales and offer in tickets in order to attract more customers (Becker, 2016). Therefore, this policy of the travel and tourism industry attracts a majority of customers and promotes more economy and profit to the company.
Public relations- in case of the travel industry, public relations are essential in order to earn a profit for the company. Effective public relation with the travel industry will promote and attract customers further (Morrison, 2013). More customers will wish to travel with the travel agency due to having an effective relationship with the customers.
P 4.2 Planning and justifying Thomas Cook’s integrated promotional campaign
The promotional campaign offers the use of activities like marketing, and emails. The main aim of these promotional campaigns is to spread information to people. Thomas Cook has offered to hold a campaign in order to promote the company and to spread this information to the people. Holding campaigns increase the chance of spreading information to the majority of people (Xu et al. 2016). The company has adopted a brand logo that will enhance and attract more customers to the industry (Thomascook.com., 2017). Effective brand image and logoi also promotes high market value, as more customers will increase the market position of the industry.
The main criteria behind this campaign are to introduce new trends and activities for the benefit of the customers. The more customers realize that the new trends are made for their benefits, more they will approach this industry (Standing, Tang-Taye and Boyer, 2014). The Higher rate of customer satisfactions, on the other hand, promotes high er economy of the industry. The important message of these promotional campaigns is to restrict or minimize the bride of a gap between the business and leisure and to provide the customers with an alluring experience (Truong and Hall, 2017). The industry will program the campaign in such a way that will emphasize in the positive approaches of the industry and provide better benefits to the customers to have an amazing experience.
The entire report has discussed the numerous features and aspects of traveling and tourism industry. This report focused on the various activities of marketing that were used in the travel and tourism sector especially by the Thomas Cook groups. The various core concepts of marketing are discussed in this report and even the different marketing environments are also discussed in this report. There are two major environments, micro and macro environment that have a major impact on the marketing sector. Moreover, the enhanced global economy will further promote more customers in this field and even social media have a positive influence on this sector. Moreover, segregation of markets are also discussed and its applications and influence on the travel and tourism sectors are also analyzed and evaluated in this report. Finally, the focus is to understand the various marketing activities that play a major role in the tourism industry.
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