Who does not know all the successful and unsuccessful start-ups in the online business sector? This market is hotly contested and changing rapidly. This is especially the case with regards to social and community platforms like Facebook or MySpace.
New entries have to have a very good business concept and a sophisticated marketing strategy to survive in this business.
TravelAdviser.net is a new entrant. It is their vision to provide an economically successful international travel information network with the main aim of investing in local communities in developing countries.
By starting a business, a vision of the future of the company is essential. However, the choice of the marketing strategy can determine success or defeat.
On the following pages, different possible marketing strategies for TravelAdviser.net will be analysed. Furthermore, one strategy will be chosen to develop a successful marketing mix and plan.
By analysing current promotion and communication activities, recommendations for a successful e-marketing campaign will be given.
Table of Contents
1. Terms of Reference
2. Review
3. The TOWS Matrix
4. Strategic Options
5. Strategic Choice
5.1 The aspect of suitability
5.2 The aspect of acceptability
5.3 The aspect of feasibility
6. Implementation & Marketing Mix
6.1 Marketing Mix
6.1.1 Product
6.1.2 Price
6.1.3 Promotion
6.1.4 Place
6.1.5 People
6.1.6 Process
6.1.7 Physical Evidence
6.2 Marketing Control
7. Conclusion
Objectives and Topics
This assignment aims to develop a comprehensive marketing plan for the launch of the online travel platform traveladviser.net, identifying the most effective strategic path to ensure growth, market penetration, and long-term sustainability while fulfilling its social and charitable mission.
- Strategic analysis using the TOWS Matrix to evaluate growth options.
- Market segmentation and competitive positioning against industry players like TripAdvisor and WAYN.
- Implementation of an extended marketing mix (7Ps) tailored for an online business.
- Development of customer loyalty programs and premium membership structures.
- Search engine optimization and digital promotion strategies to maximize brand visibility.
Excerpt from the Book
6.1.3 Promotion
According to an Italian jeweller, “Advertising is expensive. No advertising is more expensive” (DIM, 2006).
The key to success in promotion is creativity, risk and innovation.
TravelAdviser has a budget of between £50000 to £100000. However this is money with which the company can promote itself, but only if TravelAdviser has a well thought out promotion strategy.
Most important in this context is the AIDA model, which is based on the psychology of selling. Furthermore, it reflects the stages prospects move through in the process of purchase (Adcock et al., 2001).
The best way to promote a product is to do something special or innovative.
In this case, one possibility might be for TravelAdviser to arrange a newspaper hoax, or a false report; for example, that TA wants to buy TripAdvisor. If this worked, while may only have a short term effect, it would be a cheap one.
One way to reach the customer by using the AIDA model is shown in figure 6. It is a simple way, but maybe an effective one.
Summary of Chapters
1. Terms of Reference: Introduces the online business environment and the vision of traveladviser.net to combine commercial success with charitable contributions.
2. Review: Provides an analysis of the internal and external environment, including target market segmentation and competition.
3. The TOWS Matrix: Evaluates strategic options by matching internal strengths and weaknesses with external opportunities and threats.
4. Strategic Options: Discusses various growth strategies, including market penetration, market development, focus strategies, and product development.
5. Strategic Choice: Justifies the selection of a market penetration strategy as the primary approach for the initial launch phase.
6. Implementation & Marketing Mix: Details the tactical execution of the marketing plan, covering product, price, promotion, place, people, process, physical evidence, and control mechanisms.
7. Conclusion: Summarizes the necessity of a well-structured concept and emphasizes the importance of adaptability in the dynamic internet market.
Keywords
TravelAdviser, Marketing Plan, Market Penetration, E-marketing, Online Travel Platform, TOWS Matrix, Marketing Mix, User-generated Content, AIDA Model, Search Engine Optimization, Strategic Management, Tourism Business Administration, Customer Loyalty, Social Entrepreneurship, Digital Strategy
Frequently Asked Questions
What is the primary focus of this marketing plan?
The plan focuses on the strategic launch of traveladviser.net, detailing how the company can enter a competitive market as a newcomer and achieve growth while maintaining its charitable mission.
What are the main thematic areas covered?
The report covers internal and external analysis, strategy selection (TOWS), implementation of the marketing mix, and ongoing marketing control.
What is the central research objective?
The objective is to identify and develop a sustainable marketing strategy that allows the platform to compete against established players while attracting users and generating profit for charity.
Which methodology is applied to the strategy selection?
The study utilizes the TOWS Matrix to systemize options from a SWOT analysis, ensuring the chosen strategy aligns with the company's capabilities and environmental factors.
What does the marketing implementation section address?
It details the 7Ps of the marketing mix, focusing on product features, pricing, promotional tactics like AIDA, distribution, personnel requirements, and the digital process.
Which keywords characterize this document?
Key terms include market penetration, digital strategy, travel industry, e-marketing, competitive positioning, and consumer-to-consumer (C2C) distribution.
How does the proposed membership model work?
The platform introduces a tiered system: visitors (limited access), standard members (blogs/info), and premium members (full features, chat, vouchers) at a monthly fee.
What role does the IT department in Sri Lanka play?
The location in Sri Lanka provides a significant competitive advantage through lower employment costs while accessing high-quality IT specialists for technological development.
What is the significance of the AIDA model here?
The AIDA model is used to structure the promotional campaign to effectively lead users from the attention phase through interest and desire to the final registration action.
- Quote paper
- Thomas Punzel (Author), 2008, Marketing Plan for the launch of traveladviser.net, Munich, GRIN Verlag, https://www.grin.com/document/122107
