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MANAGEMT 7104 Marketing Management

  • Subject Code :  

    MANAGEMT 7104

  • Country :  

    AU

  • University :  

    The University of Adelaide

Answer:

1.0 Introduction

This is the marketing plan for a fictional company called Mindful Tourism. This case study is a corporate record that serves as a template for the marketing approaches and strategies developed to meet the company's goals and objectives.1 As a result, the goal of this marketing plan is to highlight the valuable researched literature on Mindful Tourism. This will demonstrate a thorough awareness of current ideas on the strategic role of marketing that Mindful Tourism employs. As a result, the goal of this research is to conduct a marketing audit of the case study Mindful Tourism and design a strategic marketing plan for this made-up organisation.

2.0 Discussion

The following is the marketing plan for Mindful Tourism (a hypothetical company in the United Kingdom). These tourism items will be marketed with the support of a marketing plan devised for initiatives to safeguard local people's rights and assist them in getting a better arrangement from tourism. The firm's objective is to market the tourism agenda in the United Kingdom; thus, the corporate entity would accomplish just that.

2.1 Company Overview 

Mindful Tourism is a non-profit organisation headquartered in the United Kingdom that is celebrating its 21st year in 2021. It now has around 900 subscribers, all of whom are located in the United Kingdom. Fees start at £24 for paid UK residents and rise to £200 for academic institutions. The foundation collaborates with partners in more than 20 destinations in different nations to ensure that tourism benefits local communities at all times. In a nutshell, it aims to combat tourism exploitation. Charitable donations are essential to the organisation because it is founded on membership. The non-profit group performs critical initiatives to preserve residents' rights and assist them in getting a better deal from tourism.

2.1.1 Mission and Vision 

The charity's purpose is to ensure that tourism helps the local community at all times. Its goal is to inspire tourists to confront their assumptions about the cultures they travel to and to assess the actual effects of their getaway by offering knowledge that allows them to ask the correct issues and get well-informed decisions when planning their vacations.

2.1.2 Organisational Objective 

In the immediate term, Mindful Tourism's goal is to form a specific project team to boost enrolment and financial support in the UK market. Then this may concentrate on how to accomplish this on a global scale. As previously stated, there are three different membership options. The advantages differ substantially.

3.0 Situational Analysis 

3.1 Macro Environmental Analysis 

3.1.1 PESTLE Analysis 

Political Factors 

The UK's political stability is one of its greatest assets; yet, has created political unrest and instability. The labour rules in this country are very stringent.2 A favourable governance framework would be demonstrated as an inductive ingredient in advertising tourism items in the United Kingdom, as mentioned in this promotional strategy analysis. The overall governmental structure is strong, resulting in ideal conditions for the country's tourism business.

Economic Factors 

The worldwide lockdowns in 2020/21 placed enormous strain on the finances and resulted in the closure of several tourism-related companies. However, in terms of real GDP, the United Kingdom is the world's sixth-largest economy.3 Well, millions of tourists arrive each year. Meanwhile, yearly, a huge lot of global graduates visit the UK and contribute significantly to the country's economic progress.

Social Factors 

Citizens of the United Kingdom have a good standard of living.4 Among the most essential things attracting visitors is the significant cultural heterogeneity found throughout the region. When moving from metropolitan to remote towns, there are numerous cultural differences.

Technological Factors 

The IT industry is a significant contribution to the UK economic system. The tourism industry is attracting a lot of capital and expertise.5 The tourism sector may help develop new technology so that they could provide the greatest services to their clients.

Legal Factors 

Employees' rights are protected by the Employment Act of 1996.6 The Equality Act of 2010 safeguards individuals from discrimination. Similarly, minimum pay rate, holiday entitlement, paid sick leaves, as well as similar entitlements. The law-and-order situation is tense. As a result, travellers like the location for its safety. As a result, this component contributes to a beneficial outcome.

Environmental Factors 

The UK is prone to extreme climate changes on occasion. On the other hand, the weather remains to have a significant impact on tourism. During the summer, millions of tourists from all over the globe, particularly from the U.K. visit.7 Each year, tourism contributes a significant amount to the economy.

3.1.2 Competitor Analysis

The following is the competitive analysis in the UK tourism industry: 

  • Threat from Competitors– is Moderate for Mindful Tourism
  • The threat of New Entrants – is Emerging; hence, Mindful Tourism has to be cautious 
  • Supplier Bargaining Power– is Medium for Mindful Tourism
  • Product Substitution Threat – is low 
  • Customer Bargaining Power – is High. Hence, Mindful tourism has to emphasise marketing strategies

3.2 Micro Environmental Analysis 

3.2.1 SWOT Analysis

Strengths 

Weaknesses 

Academic memberships are one of the membership options offered by Mindful Tourism. These programmes are for students, professors, and professors interested in tourism, geographic location, global development, and any other subject related to Mindful Tourism's mission. These have numerous advantages, including:

·         Online accessibility to all previous InFocus publications, case analysis, and free research papers published by the foundation;

·         Instructors can get a free instructional resource if they sign up for a monthly standing order of £5 or more.

·         How to Write a Tourism Dissertation for Free- are some of the benefits

Mindful Tourism has certain flaws in addition to its positives.

The organisation has no precise information on why membership isn't increasing.

The organisation's wide target group is 18 and up, with a special interest in improving awareness and membership rates among those aged 30 and up.

As a result, identifying programme gaps is critical to overcoming these flaws.

Opportunities 

Threats 

·         Mindful Tourism might look for a market acquisition power that is powerful.

·         Mindful Tourism can get a competitive advantage by having strong positions in the 20 destinations that make up the UK market and global market as well.

·         Mindful Tourism has a solid financial foundation. Market expansion capability in new initiatives

·         The customer's negotiating capacity has grown significantly.

·         Competitors are developing a foothold in the UK's emerging markets.

·         In the United Kingdom, marketing trends shift frequently.

·         Mindful tourism may be jeopardised by technology improvements.

4.0 Marketing Audits Frameworks

Aspects of Consumer Behaviour relating to ‘mindful tourism’

Here are four factors that have an impact on Mindful Tourism consumer behaviour.8 These factors may influence whether or not the target client chooses to subscribe to their membership plans or not. These are the aspects:

5.0 SMART Objectives 

For starters, Mindful Tourism's presence in the UK provides a big opportunity for the brand. Mindful Tourism, on the other hand, must set a SMART marketing target to seize the chance and reap long-term rewards. Specific, Measurable, Actionable, Relevant, and Time-Bound objectives are required for this.

  • The information gathered to encourage financial support for the organisation must be specific and focused on real-world challenges and opportunities.
  • To establish a special project team to enhance membership and financial support, the matrices of quantitative and qualitative criteria should be quantifiable.
  • Mindful Tourism must set up the workplace in such a way that actionable information is available and organisational performance is improved.
  • The implemented activities, such as improved marketing techniques, can be used to address relevant difficulties encountered by Mindful Tourism in the UK market, such as expanding membership and financial support.
  • All of the objectives are time-bound, and the results must be evaluated regularly.

6.0 Marketing Strategy (STP Model)

6.1 Segmentation 

Demographic criteria such as lifestyle, income, and age would be examined when establishing the target market's consumer intensity. It is assumed that perhaps the chosen targeted demographic would be intermediate and adolescent individuals who are engaged in tourism and relevant initiatives and members.

6.2 Targeting 

The organisation's goal will be to target the 18+ to 30+ market segment in the home and 20 destination foreign markets. So, following are the targeting criteria:

Target Customer

Age Group

Income Group

Product preference

·         Young Adults

·         Teenagers

18-25

N/A

Academic Memberships

·         Business class 

·         Working professionals/ 

26-30+

£500/ month

General Travelling Members and packages 

6.3 Positioning 

Students, instructors, or professors of ecotourism, geography, global relations, or any other discipline important to Mindful Tourism's activities are eligible for Academic membership. If the subscribers are travellers concerned about human rights or are representatives of the tourism sector, the general traveller or tourism industry membership is eligible.

7.0 Marketing Mix 

7.1 Product: The educational resources and publications created by Mindful Tourism are intended to promote critical thinking and generate ideas. Mindful Tourism steadily tenders for financial support from stakeholders like economic development institutions, humanitarian establishments, as well as the tourism sector on its own in sequence to accomplish its goals and assist implement changes it strives in the sector. It also participates in campaign management and projects. The money it makes from membership dues is used to keep the group afloat monetarily.  

7.2 Place: According to the group's marketing dept, the marketing campaigns and products/services would be available domestically and globally. 

7.3 Price: The objective of this strategy is to establish an offering's price at a reasonable level so that it is accessible to the intended consumer segment. It's previously been decided that the products will be aimed at individuals within the upper middle classes so that they might acquire this within their budget range.  

7.4 Promotion: The firm would engage in some promotional initiatives to increase product awareness. Both offline and online channels will be used. Publications, periodicals, and magazines are examples of offline marketing media that can help with advertising initiatives.9 Collaboration with other brands can improve their metrics. While, Twitter, Facebook, Instagram, and LinkedIn are among the most significant online venues for reaching out to your intended audience group.10

7.5 People: Those seeking to gain academic membership and general tourists are the primary target audiences for the marketing campaign.

7.6 Process: A range of discreet and delineated occurrences would be used to promote the intended campaign.11 An implementation plan would be used to create and deliver a comprehensive marketing campaign. The established intervention strategy should address all facets of digital, physical, and promotional marketing initiatives.

7.7 Physical Evidence: Mindful Tourism's workplace environment is primarily technologically oriented. The Research and Development unit of Mindful Tourism is constantly working to stay up with shifting market demands and technology breakthroughs.

8.0 Evaluation and Control

8.1 Evaluation

The marketing and awareness of Mindful Tourism come with its brand. Since tourism is such a service-oriented industry, Mindful Tourism must become trustworthy. Eventually, as the company grows, the two are becoming equivalent. The company has an image to sustain, with a significant market share and a significant competitive edge.12 Hence, setting a foothold on e-marketing or digital marketing is crucial. 

8.2 Control 

This is critical for the business to have a control strategy with the goal of ending their promotional campaign. As a result, the marketing executive of Mindful Tourism would schedule a presentation with the Directors of the company with this target at sight. Prior to going into strategy, the prepared marketing plan of action and budget would've been submitted to marketing management for authorisation. The discussion will mostly concentrate on Mindful Tourism's marketing and promotional strategy.

9.0 Conclusion

Relying on the findings, it was determined that marketing strategy provides the goals and outcomes that must be implemented by the marketing plan. This directs the efforts of the distinct units and departments that make up a hierarchical system. The Mindful Tourism Analysis is a structure that would assist the firm to better understand market trends and how enhancements are required to advance in the charity. The emphasis of this research has been on the numerous exogenous overviews that affect the company's marketing functioning, specifically in the case of Mindful Tourism.

References

(1) Chernev, Alexander. The marketing plan handbook. Cerebellum Press, 2020. 

(2) Li FG, Pye S. Uncertainty, politics, and technology: Expert perceptions on energy transitions in the United Kingdom. Energy research & social science. 2018 Mar 1;37:122-32.

(3) Hakeem SM, Khan MY. Urban tourism: the perspective on tourism impacts in Cambridge, United Kingdom. Маркетинг і менеджмент інновацій. 2018(3):268-75.

(4) Wright P, Wilding S, Watson E, Downing A, Selby P, Hounsome L, Wagland R, Brewster DH, Huws D, Butcher H, Mottram R. Key factors associated with social distress after prostate cancer: Results from the United Kingdom Life after Prostate Cancer diagnosis study. Cancer epidemiology. 2019 Jun.

(5) Lima E, Hopkins T, Gurney E, Shortall O, Lovatt F, Davies P, Williamson G, Kaler J. Drivers for precision livestock technology adoption: A study of factors associated with adoption of electronic identification technology by commercial sheep farmers in England and Wales. PloS one. 2018 Jan.

(6) Mangan D. Freedom and Dignity in the UK workplace. Italian Labour Law e-Journal. 2020 Dec 21

(7) Zou G, Zhou J, Xiao R, Zhang L, Cheng Y, Jin H, Li L, Zhang L, Wu B, Qian P, Li S. Effects of environmental and management-associated factors on prevalence and diversity of Streptococcus suis in clinically healthy pig herds in China and the United Kingdom. Applied and environmental microbiology. 2018 Apr 2

(8) Kerber JC, de Souza ED, Bouzon M, Cruz RM, Govindan K. Consumer behaviour aspects towards remanufactured electronic products in an emerging economy: Effects on demand and related risks. Resources, Conservation and Recycling. 2021 Jul.

(9) Ugolkov I, Karyy O, Skybinskyi O, Ugolkova O, Zhezhukha V. The evaluation of content effectiveness within online and offline marketing communications of an enterprise. Innovative Marketing. 2020.

(10) Troise C, Camilleri MA. The use of digital media for marketing, CSR communication and stakeholder engagement. InStrategic corporate communication in the digital age 2021 Feb 19. Emerald Publishing Limited.

(11) Hasan MM, Islam MF. The Effect of Marketing Mix (7Ps’) on Tourists’ Satisfaction: A Study on Cumilla. The Cost and Management. 2020 Mar.

(12) Do Q, Vu T. Understanding consumer satisfaction with railway transportation service: An application of 7Ps marketing mix. Management Science Letters. 2020.

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