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Travel and Tourism in Sri Lanka - Essay Example

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Travel and Tourism in Sri Lanka

This has been primarily due to the arrival of a borderless world and improved information broadcasting about the magnificent sceneries or destinations all throughout the world. The travel and tourism industry on a worldwide basis is on the point of being deemed as a profitable and rising industry. The objective of the paper is to create an effective marketing plan for a travel organization based in Sri Lanka which is planning to target the United Kingdom as an international market. The paper explains the strategic objectives to be made, to assess the internal and the external factors that affect the organisation, the marketing strategies and the marketing mix for the target market, the identification of the target market, a marketing budget for the business and the critical issues that can affect the intended new project. The paper explains the significance of global exposure of a business as well. Strategic Objectives Objectives are the goals that a company sets to achieve. Objectives are there in all levels in an organization from the top level to the bottom level or at the functional levels. Objectives can be explained in financial terms as well which signifies a company has to achieve the objectives by attaining financial growth. The financial objectives include profits, growth rate, total of the cash generated and value that lies within the business and the dividends paid. There are certain objectives that are important to achieve but are tough to determine. To accomplish the objectives the strategic objectives always demand a standard of measurement. Lack of standard to measure the objectives can create hindrances because the organisation will not be able to determine the growth. Strategic objectives are aimed at obtaining high profits for the business whereas other objectives are customer or public oriented (Dess & et. al., 2005). Measurable: Fulfilling of objectives requires having a pointer to determine the progress. The Sri Lankan travel company should have a measure to track the progress of the company in the UK market in terms of growth and consumer footfall. Specific: It gives a comprehensive significance regarding accomplishment of objectives. The company should have a specific objective to establish in the market. The specific objective would be to attain 10% increase in sales in the 1st year of service as well as to create awareness among the masses in the UK. Appropriate: The desired intentions must be within the objectives of the organization. As the company is making an expansion to the UK market, it should have a proper plan and objective. Realistic: The objectives should be feasible and has to be within the capabilities of the organization. The objectives and the processes of the Sri Lankan company should be realistic and feasible to attain the goals. Timely: The objectives must be achieved within a specified time period. ...Show more

Summary

Travel and Tourism in Sri Lanka Executive Summary The report highlights a marketing plan that could be taken into account by a travel organization of Sri Lanka while commencing its operations in the lucrative business market of the United Kingdom. The discussion in the marketing plan includes the strategic objectives to be set, the demand of the people around the business area, the type of marketing mix that should help the organization, the appropriate marketing budget to start the operations, the critical issues that could affect the business, the promotional strategies and the analysis of the market to start a new business initially…
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