Marketing Plan Inserts His/Her Inserts Grade Inserts 09.11 Marketing Topic: World Travel Services Introduction A marketing plan is the guideline to all the activities that a company uses to penetrate the industry market in order to sell its products and have a share in the market (Micheal, 2010). To start with when formulating a marketing plan solid industry and market analysis is vital (Michael & Susan, 2007). In the travel industry, the current players such as Air America, Fly emirates, Air Dubai do not satisfy customer needs because the market is too big for them to exhaust.
Therefore, FWTS will take advantage of these weaknesses to satisfy customer needs and penetrate the market. Also, the current major players in the industry are poorly distributed only in the major cities again this is a major weakness which FWTS will capitalize on, by providing its services everywhere in the world. Also, the ability to get access to the world travel service through the internet and social networks this will increase the company’s clientele base. After the market and industry analysis, it is important to determine the market segment, this is determined by size of the population, customer needs, Geographic’s, buying patterns among others (David, 2008).
Given that the size of the population is increasing the current players does not cater for all the customers in need of services, therefore, FWTS will take advantage of this big population. Also, FWTS has identified customer needs and has worked towards satisfying by giving them what they want and deserve. Another market segment is buying patterns the customers tend to buy from new players in the market who have unique and best services, therefore, the FWTS will benefit from this.
This will help FWTS provide services to customers when they need them which is very convenient. To develop a marketing plan, all the marketing trends related to social, economical, technological, competitive and regulatory forces related to the product should be identified (Malcolm, 1999). In this product, world travel services, marketing trends related to the forces are; to the social forces are linking with business associates and co-workers this through the company’s different services. The economical forces are the prices of the company’s services which are relatively low compared to other companies in the industry, large flow of revenue.
The technological forces are up-grade membership packages, Hotel and advertising packages for domestic airline, private travel industry and outsourced advertising packages, sales or aviation broker of accounting software and subscription benefits for hotel chains. Competitive forces are that the company is providing services different from other companies’ at a cheaper price. Regulatory forces are located in eco green environment. The above force comes as an opportunity for the FWTS to penetrate the market. Consumer analysis of FWTS targets 25% of the world population annually with expectations of this raising in future.
This part of the population is mainly tourist, with tourism rising with 4% annually. The world population is increasing day by day and the current players in the industry find it hard to serve all of them. The agency driving forces is the incapability of the current players to serve the world population and charging highly substandard services. In conclusion, the FWTS marketing plan if followed to the letter it will lead the company to being one of the major players in the market. References: David, L.
Kurtz, (2008). Contemporary marketing. Cengage, Learning Malcolm, Mc. Donald, (1999) Marketing plans. Butterworth-Heinnemann Michael, J. Baker, Michael, Saren, (2010) Marketing Theory. Sage publications Michael, J. Baker, Susan Hart, (2007) The Marketing book. Butterworth-Hennemann