Strategic Analysis Macro-Environment Micro-Environment Internal 3. Cost savings offset the negative impact of Egypt, where unrest has put customers off from holidaying there this winter. · Customer are loyal to Thomas Cook — Loyalty factor involves in their success · Stable Political environment in the country. There are several important reasons why businesses should attempt to segment their markets carefully. We deliver inspiring personal journeys as the trusted pioneer in global travel. Advances in consumer research, 19 1 , pp. As of Feb 02, 2019, the consensus forecast amongst 13 polled investment analysts covering Thomas Cook Group plc advises investors to hold their position in the company.
Marketing mix as a concept was published by Neil H Borden in the year 1964. However I do believe that there are some improvements which they could make which would help push them further closer to their goal. The motivation factors of the tourist are based on need, choice preference or goals with respect to the destination Pervaiz, 2002, pp. The internet gives them access to the customers from a variety of mediums. In addition to this 7% of people said they ask people on social networks for holiday advice. Green is targeting sales growth of at least 3.
Good examples include Citibank, Thomas Cook, American Express and Elegant Resorts, an upmarket travel company In contrast, several companies also focus on marketing products that appeal to consumers with relatively low incomes even in the middle class. Handling Competition The tourism industry is becoming highly challenging and competitive in the 21st century. In deciding the range of products and services, marketers keep in mind the requirements of the customers who constitute the target group. . Results showed Thomas Cook as one of the most popular choices, falling below the fourth choice 3 times. There were many news articles which addressed issues about the industry and key trends.
Thomas Cook has already established a strong presence on social media sites, having 280,000 likes on Facebook, 59,000 followers on Twitter. So marketers design, package and promote products differently to meet the wants of different age groups. In addition to this, I believe that Thomas Cook should also adapt a differentiated targeting marketing strategy. Recent quarter earnings show positive financial turnaround possible with cost saving initiatives Threats 1. Sorry, but copying text is forbidden on this website! The airlines attract the customers by giving them the option to customize the package. These segments are internally homogeneous, i. · The high confidence in jobs, which led to the spending by consumer to be also high.
The current market capitalisation stands at Rs 7,988. Their belief in sustainable tourism strategy gives them huge benefits, as it improves their performance and gives them steady and sure growth. In late 2011, it asked lenders twice to come to its rescue as it struggled with its debt load amid tough trading conditions during its seasonal low period. The service experience as theater. With 19 million customers, we help you harness the power of our brands, our extensive travel experience, our strength as a retailer and the scale of our audiences to develop and deliver highly effective marketing campaigns.
Life cycle: The consumer stage in the life cycle is an important variable, particularly in markets such as leisure and tourism. The changes which need to be addressed are sustainability, transition to the internet and the affect of recession, which has changed the requirement and attitude level of the consumers. Non-Executive Director, Pravir Kumar Vohra - Ind. To do this, Green has created a digital advisory board, involving independent experts, to help it ramp up its online offering. Marketing Coursework Sample This is the marketing assignment sample on the case study basis of Thomas Cook Travel where the author has to evaluate the positioning of the company in the market and provides the recommendations on how the company can improve its position in the market. In regards to secondary research I found it hard to find official data in relation to the holiday industry as a whole, market share etc.
Market Segmentation Strategies: Market segmentation refers to marketing efforts to group potential buyers by demographic characteristics, geographical region, lifestyle, usage pattern, and behavioural factors. Non-Executive Director, Sumit Maheshwari - Non Executive Director. The Psychographic segmentation would be on the basis of the lifestyle which the prospective customer follows. However data from the Civil Aviation Authority showed Virgin Holidays to be the 10th largest in the industry. I listed 10 holiday companies and asked them to rank them from 1 to 10. Increase in liabilities due to unpaid compensations Thomas Cook Competition Competitors Below are the 4 main Thomas Cook competitors : 1. After conducting a sufficient number of surveys, the marketer compiles the results to determine which markets make the most sense for his business.
However Manchester City announced the deal would end in 2009 Manchester City F. It also plans to increase its annual investment in technology by 9 percent to 60 million pounds. The Ideal Approach to Segmenting Retail Markets : The segmentation of the total market is based on several factors like the income level of the customer or the household, the age group of the consumers, their level of education, their level of sophistication, the size of the town or city of their residence, the climate of the place, and so on. Product examples are toys for children and jewellery for women. Mission Statement Exceptional service from exceptional people Values Succeed as one team — support and trust each other, work as a worldwide team Deliver for our customers — deliver the best possible customer experience Engage each other — energise and inspire each other, bringing new ides Drive for results — have the courage and determination to succeed Act with integrity — maintain the highest ethical standards These values are expected to be carried out in everyday operations at all levels of the Thomas Cook Group, and therefore aiming to reach excellence in everything they do.