Unit 5 Travel and Tourism Marketing Assignment
Introduction
In order to raise or create awareness of anything among the general public or specific target audiences, marketing is essential. The organisation gives great weight to the strategy to raise awareness and have an impact on how people make decisions. In order to achieve the desired goals and provide accurate information about the products, features, benefits, services, and many other factors to attract customers, marketing is thought of as the cornerstone of customer communication. It is crucial to focus on the marketing and promotion methods of the relevant company or product in order to inspire customers and build brand value among them.
The current research will be helpful in understanding the fundamentals of marketing with regard to the travel and tourist industry. The fundamentals of marketing for Thomas Cook will be carefully examined for this particular research.
One of the best travel agencies in the UK, Thomas Cook is listed on the London Stock Exchange. The company provides a comprehensive range of high-quality services to the global tourism and hospitality industries. In the travel and tourism industry, the study will assess the factors that have an impact on consumer demand and motivation.
TASK 1
1.2 Impact of marketing environment on individual travel and tourism business of Thomas Cook
The brand value and image of Thomas Cook’s suggested vacation package to Morocco and Egypt were significantly influenced by marketing. Thomas Cook had included more sophisticated ideas for the marketing about the summer vacation trip that would draw an increasing number of clients to it with the increase in technological improvements. With the aid of marketing strategies, the main draws of these locations had been highlighted to shape choices and create a new perception (Chikweche and Fletcher, 2012). Marketing has a significant impact on both individual and destination decisions. These are the main effects: Strong Customer Base: With the use of marketing and numerous promotional activities, Thomas Cook attracts a sizable number of customers. This customer base is crucial to the growth of the company’s operations, and it helps the company plan future offers by considering what the customers want. The organization’s promotional efforts had a favourable impact on decisions because consumers favour brands that have effective marketing campaigns and offer precise and understandable information about the goods and services they are buying. Brand: The brand image of any company is crucial since it serves as the most reliable form of identification among consumers. In the entire UK travel and tourism sector, a sizable amount of clients are familiar with the brand value or image of Thomas Cook. The public relies on the goods and services provided and sees them as trustworthy (D’Esopo and Almquist, 2011).
Relationship: In an organisation, the marketing environment is crucial for building relationships with customers and other stakeholders. Additionally, Thomas Cook has succeeded in building strong relationships with its consumers since it provides them with proper executive consultation services and 24-7 online assistance, ensuring that they are happy with all of the plans and services. The business operations of Thomas Cook were somewhat impacted by this endeavour.
1.3 The factors affecting consumer motivation and demand in the travel and tourism sector
The following is a brief discussion of some of the variables that may have an impact on consumer requests and motivation:
Price: Since decision-making is influenced by price, it is the most crucial element for every company or product. The demand for and the client preferences for the travel and tourist organization’s packages are significantly influenced by the prices that are set over those packages. In light of Thomas Cook’s plans, a 2016 vacation package featuring Morocco and Egypt will only be evaluated based on costs. The travel and tourism sector is very competitive, and as a result, prices have an impact on consumers’ needs and decisions (Govers and Go, 2012).
Culture: People today are becoming more inclined toward diverse cultures and want to encounter different cultures at those locations, therefore culture is another aspect that could cause changes in the expectations of the packages. To draw in more clients, the management of Thomas Cook must assess the market and make plans to launch some diversified cultural excursions. Customers would be driven and want travel and tourism packages that included experiences from many cultures in terms of way of life, worldview, cuisine, etc.
Concerning the current state of travel and tourism locations throughout the world, safety and security concerns have the greatest impact on the industry and impede consumer demands and choices.
In contrast to Egypt, which might not be the best option given the clients’ safety concerns, Morocco is a safe area to travel. Before creating a package for them, the management must take note of this significant issue and confirm it (Gössling et al., 2012).
Marketing: The most effective tool for influencing client demand and motivation for a bundle is marketing. To pique clients’ interest and boost demand for the package in particular, Thomas Cook’s management must develop an original and alluring strategy. The business could promote its goods and services using multiple channels, such as social media, mobile applications, and websites, to entice clients.
1.4 The principles of market segmentation and its uses in marketing planning at Thomas Cook Group
Marketing is segmented based on a number of variables, including geographic, demographic, and psychographic ones. These variables are taken into consideration while determining the organization’s true target market and how to position its goods and services. The management of Thomas Cook might use these factors to create a marketing plan and a suitable strategy that would affect client requests and levels of satisfaction (Jayapalan, 2011). The organisation uses the following marketing segmentation principles: Thomas Cook is divided into many categories based on the gender, income, and age of the people it serves. Thomas Cook offers a wide range of travel plans and packages. Thomas Cook would be able to make superior strategies in the future that would affect more target clients with the aid of this kind of segmentation. The Thomas Cook management has been designing a customer’s package based on their budget. If the customer is part of a high-end group, business class airfare and accommodations are scheduled. Businesses have a better grasp of the product quality as it relates to various income groups, which helps to categorise the products into distinct categories. Thomas Cook uses this technique to divide the market into different segments based on various geographic factors (Miller, 2012). It has been shown that businesses have plans for their customers based on their preferences, needs, and wants. The firm then plans vacations based on those requirements and wants. This covers the customer’s cultural preferences, values, and needs, all of which need to be examined in order to create effective marketing strategies.
Behavioral: This sort of segmentation is mostly based on the consumers’ individual needs and preferences during the purchasing process. The higher-ups at Thomas Cook are required to carry out this segmentation by learning about the requirements and preferences of the clientele. With regard to the summer package of Morocco and Egypt for 2016, this segmentation might be helpful since it would allow the company to change or add aspects to the package in order to appeal to existing and potential clients and influence their purchasing decisions (Blanke and Chiesa, 2013).
TASK 2
2.2 The relevance of marketing research and market information in Thomas Cook Group
Any firm that wants to understand the circumstances, trends, and needs of its customers and create a strategy for producing products and services that will meet those needs must conduct market research. The marketing manager is responsible for analysing the target market data in order to develop plans and make adjustments to corporate operations. The information received via market analysis and the opportunities being obtained for the management and planning of the resources are the foundation on which the organisations in the travel and tourist sector base their business operations (Yeshin, 2012).
The information regarding the needs, wants, and expectations of the customers would be provided by the market research. As a result, it has been discovered that marketing research helps Thomas Cook reach its goals and would enable it to better delight its customers.
Market data aids in obtaining crucial information regarding current practises, customer behaviour, and trends that are being gathered by the organization’s CRM system. The system would offer real-time data updates and the ability to gather and obtain answers from all interested parties.
Additionally, the business might utilise the data to develop a marketing strategy that would be effective in grabbing customers’ attention. Additionally, the manager of Thomas Cook is well-versed in a variety of expertise and talents and would use those to create an efficient marketing strategy (Hjalager, 2010).
2.3 How marketing affects society
The targeted client segment is impacted by marketing operations, which have an impact on the branding and positioning of the company. The management of Thomas Cook employs eye-catching and sensible marketing tactics that have a direct impact on the organization’s reputation. There are several ways that marketing affects society, some of which are included below:
Social responsibility: In order for an organisation to achieve a sustainable position in the market, it is necessary for it to pursue its own stated social duties (Evans.et.al, 2012). The travel and tourist industry has a responsibility to the community and should take the initiative to manage waste properly, reduce pollution, and arrange activities to raise public awareness of social issues. Thomas Cook effectively fulfils its social obligation and has a positive impact on society, both of which help to increase the company’s brand value. Legal and ethical process awareness: According to the marketing philosophy, advertising should be ethical and legal because it has a negative impact on social concerns. For instance, the commercial that is being presented cannot include any content related to a specific religion, set of beliefs, or set of values. The UK government had also taken action and had foreseen that Thomas Cook would consider some of the marketing regulations in order to establish a good reputation in society. Environmental sustainability: In order to promote awareness among the public about the need to protect the environment, Thomas Cook must implement a number of initiatives. Some technological advancements are required for waste management in order to maximise the use of non-renewable resources like fuel. This effort would contribute to the development of the organization’s brand value and image and would carry out social change (Page, 2014). Thomas Cook Airlines is working on fuel economy concepts, eco labelling, onboard recycling, and trash management as part of its efforts to address the environmental issue. Businesses have been focusing on reducing their carbon footprints.
TASK 4
4.1 Assess the integrated nature and role of the promotional mix
The promotional mix refers to the actions used to advertise specific goods and services. In order to improve the validity of the results, it is important to keep in mind specific activities while creating an appropriate promotional mix, such as direct marketing, sale promotions, web marketing, advertising, integrated communication, etc. Only through this promotional mix are decisions regarding product sales made, and as a result, it plays a significant part in the framework. To effectively promote the summer package 2016, Thomas Cook must utilise strategies including commercials, internet promotions, and integrated communication. The promotion through various internet channels, such as social media, emails, etc., would help increase awareness of the offerings and bring fame.
Conclusion
As a result of the Unit 5 Travel and Tourism Marketing Assignment, it has been determined that marketing efforts play a significant part in boosting demand for the products and services within the designated targeted consumer segment. Thomas Cook is among the leading businesses in the nation that provide high-quality services to the travel and tourist sector. The research also aided in learning the fundamental marketing theories pertaining to the travel and tourism sector and assessed the value of marketing strategy by way of a SWOT analysis of Thomas Cook. Additionally, the study had helped in determining the effectiveness of the promotional mix and defending its use.
References
Baker, M. and Hart, S. 2010. Product strategy and management.Harlow, England: FT Prentice Hall.
Björklund, M. 2011. Influence from the business environment on environmental purchasing—Drivers and hinders of purchasing green transportation services. Journal of Purchasing and Supply
Management. 17(1). Pp. 11-22.
Blanke, J. and Chiesa, T., 2013. The Travel & Tourism Competitiveness Report 2013. In The World Economic Forum.
