The paper "Establishing and Maintaining Project Alignment" is a great example of a Marketing Business Plan. Globalization has led to the emergence of new business concepts in the industry. As such, a majority of the organizations have developed internationalization strategies in a bid to capture and expand in such respective international markets. Consequently, this has facilitated the increased market expansion and industrial growth. Through the increased development and growth of international trade, the global economy has expanded with nations, both developed and developing enlarging their gross domestic product (GDP) bases (Giulioni, 2011).
This is evidenced by the increased per capita income values in the global market. In this regard, the per capita value in respective nations has considerably increased. Sharma and Mishra (2012) argued that through increased per capita income, individuals have improved their living standards as well as need hierarchy. Maslow’ s hierarchy of needs can be best used to explain this concept. The theory argues that once an individual needs at a given level are met, the needs evolve onto the next sequential level. Therefore, the global market needs have evolved from basic and safety needs to the social and self-esteem levels.
As such, this facilitated the need for movement and adventure in pleasure fulfillment. Consequently, the tourism industry has emerged as among the fast-growing global industries in the market. Yeoman and McMahon-Beattie (2006) argued that statistics demonstrate that the industry has both current and forecasted expansion potential in the industry allowing for increased investment. Thus, venturing into this market is a viable economic decision that would yield products increased earnings and revenues both in the present and in the future. This business plan seeks to venture into the tourism industry.
As such, the plan outlines the process of developing a new tour guide application, TourApp, an improvement of the existing tour guide applications in the market. Through this proposed product venture, this business plan highlights the estimated revenues both in the short and in the long run as a verification of the new product development idea viability. 2.0 Product The proposed TourApp new product for adoption is a tour guide application. The application will be used as a tool by the tourists to guide their way through the desired tourist attraction areas.
In the recent past, the need for human tour guides has increased. As a result, tour guide companies have been forced to recruit an increased number of employees to serve as tour guides. This has two strategic implications. On one hand, the process increases the overall organizational operational costs in the market. The process of recruiting, retaining, training and rewarding a large employee base is overly expensive in the market. As a result, this process has led to reduced organizational profitability levels in the industry.
Fowler (2012) conducted a study to evaluate the implications of high labor forces in an organization. In its review, the study hypothesized that although a high labor workforce had merit in increased productivity; it had cost implications on the respective organizations. In its analysis, the study established that organizations with a high labor workforce faced increased costs of production. This phenomenon can be explained through the application of the law of diminishing marginal returns. This law argues that additional resources add value to an optimum level beyond which such resources additional does not contribute to the overall revenue gains.
This has been the situation with the tourism industry organizations. In this case, increased organizational spending in hiring additional tour guides results in increased expenses, negating the overall industry profitability levels. Moreover, these high labor costs have increased the overall capital investment requirements in venturing into the market. As such, this has denied small businesses and investors from investing into the industry. Thus, this necessitates the development of alternative avenues for guiding organizational consumers.
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