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World Travel Services - Assignment Example

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World Travel Services

It guides the employers internally as well as helps raise capitals from external audiences. Debelak (2000) claims that marketing plan is a significant part of a business plan. It includes information about services, prices, and products. One needs to know how the main competitors are fairing because they constantly keep coming up with new strategies to attract customers. One should also consider key government policies that can affect the operational of a business when coming up with a marketing plan. Information Source of data Time Measurable information, like how to increase customers. observation Period of one year. Accessible, for example, distributing your products or services to other regions web search Within a period of 2 years. Distinguishable information, like looking at key competitors strong and weak points Internal data Within a period of I year Relevant, information in terms of developing marketing mix for each segment chosen. Surveys and questionnaires Within a period of 6 months Feasible, approaches for each segment with specific marketing program. Surveys and questionnaires Within in a period of one year Debelak (2000) claims that, market analysis comes in handy after coming up with a market plan. For example, it outlines business objectives, like increasing customers from 5 percent to 10 percent during the year. When it comes to market analysis, the world travel services may decide to distribute their services in additional states in coming years. Westwood & Institute Of Directors (2002) asserts that before a company implements expansion plans, it should first of all determine the size of each market as well as money spent on the available services, which will help forecast profits and sales in those businesses. One should also write down business key competitors, in addition to, their weaknesses and strengths. This will help World Water services have an opportunity to match their own strong and weak points. Service and product planning are a cornerstone of any business. World water services should therefore, decide if it should introduce new services, and features in the coming year or after five years. However, before introducing the service in the market, the company should test the new services through customer surveys and focus groups. For example, in such a case, World Water services can conduct a phone survey in order to determine how many customers will be willing to test their new services and how they are going to distribute it. This will help identify key advantages of one’s services and products over competitive products (McDonald, 2011). Promotional plans in such a case become an important factor that World Water services can consider. For example, it should outline various effective promotional plans that it will use in order to reach its customers. For example, for a tour company, it can consider using coupons as one of the advertising medium that will help allocate a large portion of the advertising budget in the marketing plan. Coupons magazines for example, can be predominant advertising medium for world water services (Westwood & Institute Of Directors, 2002). When World Water Services include market analysis, service and promotional plan, it will definitely be successful. This is because it will have all the relevant information that it needs in the future. Additionally, it will be easy to follow the above-explained steps and focus on the direction and market planning process. For example, by identifying its market competitors, it will be able to determine and realize its weak and strong points, and as a result, come up with new strategies of offering their services (Debelak, 2000). Some of the three approaches that are used to develop a sales ...Show more

Summary

Marketing and product innovation are the most important advantages that companies can rely on in order, to succeed and survive in the market place. A marketing plan is a guide that organizations rely on for a period of time in the future…
Author : estark
World Travel Services essay example
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