Essays on Intended Target Market and Target Market Segmentation Coursework

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The paper "Intended Target Market and Target Market Segmentation" is a good example of marketing coursework.   Australia is a beautiful place that offers a great deal to a variety of tourists. Tourists are able to find gorgeous vistas to watch a sunset, beautiful beaches to practice their surfing techniques, rainforests to hike, and cultural events in the cities. Tourism is a booming business in Australia as travel agencies vie for customers across Australia looking to explore their homeland and the world wanting an adventure of their lifetime. “ More growth is on the horizon.

The Tourism Forecasting Committee expects total visitor consumption to reach $102 billion in 2012– 13, with international arrivals to reach over six million” (Tourism Research Australia, 2012, p. 4). This increase in visitor consumption and tourist arrivals can be a double-edged sword for travel agencies. There is the fact that this is an expanding business meaning that there are many competitors available for customers to turn towards if they decide that a particular business is meeting their needs. This huge pool of competitors make it important for travel agencies to be able to demonstrate something different that will attract customers to their business over thousands of other agencies out there which is where a marketing plan comes into play. Environmental Details A detail of the environment that impacts the travel industry is that tourists from all over want to “ experience at first hand Australia’ s unique natural and cultural environment” (Jafari, 2002, p.

41). There is no other place on earth quite like Australia with the wide variety of natural resources, cultural draws and friendly people. This may seem like a given as a detail of the environment that can impact a travel agency, but it can play an extremely powerful role in the marketing strategy of a travel agency.

Travel agents are selling the dream of a perfect vacation in the perfect setting with the perfect adventure for the individual that is looking to book with them. Understanding the different draws that Australia will have for domestic and international travelers will help to increase the market value of a travel agency because it will become known for booking tailored trips. One of the biggest environmental impacts on the travel industry is money and exchange rates.

Travel, even for business purposes, is something that can be seen by many as just a luxury that can be put off for later years when more money is coming in, so a time of economic crisis globally can have an impact on the amount of travelers coming into a country. Australia is seeing record numbers of visitors coming to spend their hard earned dollars, and this is from a few factors. One is that the exchange rate with the British sterling pound and the euro against the Australian dollar is attractive as visitors bringing their home currency to Australia will have more buying power with the current exchange rates along with the second fact that there are cheap flights available that can make the long flight more attractive to budget focused travelers (Businesscasestudies. co. uk, 2001).

Visitors being able to stretch their money to where they are able to get such a strong exchange rate will help to be a positive impact on the travel industry in Australia.

References

Australian Federation of Travel Agents (2010) Review of consumer protection measures in the travel and travel related services market in Australia including the role of the Travel Compensation Fund. [online] Available at: http://www.consumerlaw.gov.au/content/mcca_consultation/downloads/pwc_consultation/Australian_Federation_of_Travel_Agents.pdf [Accessed: 17 Mar 2013].

Bergin-Seers, Sue, O’Mahony, Barry and Quiazon, Regina (2007) The travel agency service industry: industry trends and practices. Other. Sustainable Tourism CRC (STCRC).

Businesscasestudies.co.uk (2001) Introduction. [online] Available at: http://businesscasestudies.co.uk/australia/targeting-a-market-segment/introduction.html#axzz2NoNKpbCC [Accessed: 17 Mar 2013].

Cheung, R. and Lam, P. (2009) How Travel Agency Survive in e-Business World?. Communications of the IBIMA , 10 p.86. Available at: http://www.ibimapublishing.com/journals/CIBIMA/volume10/v10n11.pdf [Accessed: 17 Mar 2013].

Jafari, J. (2000). Encyclopedia of tourism. London, Routledge. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=74863.

Kelso, S. (2012) A-List: World. [online] Available at: http://www.travelandleisure.com/articles/a-list-worlds-top-travel-agents [Accessed: 17 Mar 2013].

Schneider, P., Vogt, C. and Smith S. (n.d.) Segmenting the Adventure Travel Market by Activities: An Extension of Sung, Morrison, and O’Leary. [online] Available at: http://www.xolaconsulting.com/TTRA_Final_Paper_Segmenting_Adventure_Jun62006.pdf [Accessed: 17 Mar 2013].

Tourism Australia (n.d.) A Uniquely Australian Invitation: The Experienced Seeker. [online] Available at: http://www.tourism.australia.com/en-au/downloads/marketing_experience_factsheet.pdf [Accessed: 17 Mar 2013].

Tourism Research Australia (2002) Tourism Industry Facts & Figures at a Glance. [online] Available at: http://www.ret.gov.au/tourism/Documents/tra/Economic%20Analysis/FactsFiguresSep2012.pdf [Accessed: 17 Mar 2013].

Tourism Victoria (2010) Introduction. [online] Available at: http://www.tourismexcellence.com.au/Understanding-Visitor-Needs/Introduction.html [Accessed: 17 Mar 2013].

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