Marketing Plan for Thomson Holiday Group

Question: Describe about the marketing plan for thomson holiday group? Answer: Introduction Thomson has become one of best as well as largest tour operators. Marketing is one of the best tools that help to evaluate the growth of a particular organization by increasing its productivity and profitability. There are different types of techniques used by different organizations in order to increase the probability and these techniques for marketing create a great impact on the minds of the customers. The company is using different marketing techniques in order to sell the different holiday packages to all its respective customers. This report will highlight the different environmental factors such as the micro and macroeconomic factors with internal analysis that will help in understanding the different marketing conditions for the concerned company. Moreover, there is PESTEL analysis, analysis of the stockholder, different pricing strategy, and the marketing mix tools (Anderson, 2015). Company overview Thomson group of travels was founded in the year 1965 and is the largest tour operators. The headquarters of Thomson group is in Luton, England (Thomson Holidays, 2016). The company was renamed in the year 1997 and was founded by the Thomson group of travels in the year 1965. The company offers different types of the packages for all its respective customers such as the adult packages, family packages and the luxury packages. Thomson group offers wide ranges of the packages to different people classifying them as per their ages and the desired requirements. Situation analysis The situation analysis helps in understand the desired requirements and the demands of the customers within the concerned market segments. The primary aim of the situational analysis is to recognize the desired requirements and the different happenings related to the demands of the customer within the market segments (Baron, 2009). This analysis helps in evaluating the desired facts that what has been offered to the different customers within the market segments and brings out the desired competition for the concerned company. The situational analysis consists of the internal as well as the external factors, the external factors includes the micro and macro analysis. External analysis Macro analysis These provide the clear information regarding the macro-environmental factors which sometimes critically affect the concerned business of the organization. Demographics These helps to classify the people on the basis of the gender, by the age of the people and different factors who want to spend their time on the various vacations (Chen, 2014). For example the Thomson group has categorized people on the basis of their age as well as their needs. This increase the overall productivity and profitability of the organization within the concerned target market. Business condition In a case of inflation situation, money is much more expensive in borrowing and this creates a great difference and the people begin to purchase the packages less due to the several tariffs from the governments (Cirikovi, 2014). The company needs to offer different packages to the concerned customers as per their desired requirements. This helps in enhancing the effectiveness of the organization in the present competitive market. Technological The technological innovations become the desired reasons for wiping out of the different industries within the concerned market situations which execute their business process less than a year. The technological advancements, therefore, create the major advantage for different companies concerned within the desired market segments (Cirikovi, 2014). Legal and political The health care and the special provisions critically affect the desired business processes of the organization; therefore, it becomes very important to take off these provisions in order to execute the business processes successfully. Social and cultural There are different types of the social as well as the cultural trends that cause the marketing trends to change rapidly and it forces to adjust the marketing plans accordingly as per the desired changing trends (Coate, 2007). Microanalysis The microenvironment consists of the various considerations related to the suppliers, stakeholders, regulatory bodies and the customers with the local stakeholders (Farley, 2014 Market situation The marketing situation provides the desired knowledge related to the size, growth and the changing trends in the market segments. These include the past, present as well as the future trends in the market segments (Googles latest accomplishment: refining marketing practice, 2012). Competitive situation There are certain points on the basis of which the competitors provide high competition to the respective company within the market segments. These are the description of the different key competitors and their respective position within the concerned market segments. Next is the size of the number of the competitors within the market segments, and the share of the desired market including the sales trends? Product situation This highlights the sales, profit, changing trends related to the product, cost of the respective goods and the marketing history of the company. Distribution situation This reveals the desired information percent of the sales of the company's product and the cost involved in the distribution of the different products and the services (Hooley, Piercy, and Nicoulaud, 2012). Internal analysis It is the desired process which helps in identifying the unique characteristics of the concerned organization including the respective resources and the capabilities (Hult, Pride, and Ferrell, 2014). PESTEL analysis reflects the desired conditions for the execution of the business process within the concerned market segments. PESTLE analysis Political It reflects what extent the government degree in economics. Thomson group executes its business process as per the desired norms of the government in order to maintain the desired stability within the target market segments. These factors are labour, law, tariffs, taxation, local law made by the council and the tread law. Economic These factors reveal the decisions taken by the Thomson group in order to bring out the desired positive results for the company (ILO., 2015). Thomson group executes its business processes considering the economic factors which include interest rates, economic growth, money exchange and the respective inflation rate. Social These include the cultural factors and the growth rates of the population which create a great impact on the business process of the company. The lifestyle of the customers helps the executives to sells the different packages offered by the Thomson group of travels. Technological The implementation of the different technologies creates a different between the competitors and the company concerned. Therefore, it becomes very important for the Thomson group to implement new technologies and new tools in order to bring out the desired profitability for the organization (Ingenious latest model, 2011). Environmental Thomson group understands the environment factors consisting of the ecological aspects create a great impact on selling the packages as peer the suitability of the environment to the different customers (Jensen, 2013). Legal It is very important for Thomson group to work according to the desired rules and regulations of the government of the country concerned as it sometimes creates a barrier to the expansion of the pillars of the company to a wide range of areas within that particular country. SWOT analysis Strengths Thomson group has the strongest brand image and it has created its brand reputation as the best travel group. The Thomson group of travels also offers the best packages including the flights around different parts of the world. The company consists of nearly 10 million passengers or the customers on an annual basis. These points help in evaluating the desired strength of the company. Weaknesses The different revenue from the tourism is a weakness for the Thomson group which highly depends on the concerned economy. The flexibility of the different packages to different customers sometimes leads in dissatisfying the desired customers. Opportunities There are several opportunities developed for the respective customers. Integration with the different tourist destinations mainly for the respective high passengers increases the opportunity for the Thomson group in order to increase its profitability in the desired competitive market segments. Threats Different competitors within the market segments create a potential threat for the Thomson group. The threats from the terrorism reduce the desired number of the passengers and create a threat for the entire organization. The increasing costs of the fuel as well as the operations provide a threat to the company. Michael Porters five forces These five forces include the following points as listed below: Power of the supplier: This power remains in the hand of the suppliers and this includes the number of the respective suppliers, size of the concerned suppliers, uniqueness in the service delivered by the suppliers and the desired cost of changing. The Thomson uses the technology of backward integration which signifies that the company has its own powers. Power of the buyer: This highlights that the desired power remains in the hand of the buyers and the tourism industry have been seen to be changing as per the needs of the buyers. Therefore it becomes very important to be considered by Thomson group this in order to increase the desired growth of the organization. Competitive rivalry: The concerned industry of tourism involves high level of competition and the different companies are trying to provide best quality of the services that the other companies within the market segments. The reputation of the brand and the leadership in the concerned market has helped the Thomson group to sustain in the market segments. Threat of substitution: The substitute of the same products creates a crucial threat to the Thomson group. The increase in the number of the tourism industries have increased the threats related to the same packages offered by the different companies or in another words the threat from the different substitutes. Threat of new entry: Entry of the new companies of the same field critically increases the level of the competition for the previously established companies. The Thomson group have the strongest brand image and therefore the new market entries do not have any effect on the Thomson group. Objectives for Thomson Holiday Group In order to bring out the desired positive results for the organization, it has become very important to set up the perfect objectives for the organization. The objectives of the company are as follows: To increase the profitability of the organization To achieve the desired goals of the company within the time limit provided To work as per the satisfaction of the customers To market the products successfully To work as per the finance resource available To increase the selling of the products through different channels To capture the entire market segments Identification of the specific challenges for the business There are certain challenges for the company related to the marketing, these are as follows: Competitors Customers Company Climate Collaborators The competitors increase the competition level for the company to a great extent and thus, a company needs to identify this problem and work according to the desired requirements of the market segments. The company needs to identify the desired position of the respective competitors within the concerned market segments (Kachapi and Ganji, 2014). Strategies The company has adopted several effective strategies in order to increase the profitability and productivity of the concerned organization. The different strategies of the company are as follows: Identification of segmentation The segmentation refers to the division of the entire market segments into smaller groups or into smaller units. It is very important for the Thomson group to identify the desired demands of the each of the market segments. It is more to important to develop the desired marketing position and the marketing plan for each of the market segments (Lin, Yuan, and Li, 2014). The geographical condition or the demographic condition does not help so much to any company for executing the business process. Thus, Thomson group needs to make certain effective strategies in order to increase the reliability of the services offered by them to the respective customers. Therefore, the identification of the different market segments is very important. Key target audiences The company needs to target different age groups of people as different people have different requirements related to the traveling and tourism. Moreover, the implementation of the desired technology helps in targeting the audiences. Identifying the desired requirements of the customers is important as this will help in targeting the customers. As for example the Thomson group has successfully identified its customers in order to sell the different packages to them. The company offers various packages as per the suitability and the needs of the customers. It becomes very important to understand the desired need of the buyers as this will help in offering the desired services as per their requirement and will help in increasing the selling of the products (Nichols and Taylor, 2013). This section has helped Thomson group in understanding the declination in the growth of the growth. Actions Brand positioning Brand positioning is considered to be the most important elements as this create a great impact on the minds of the customers. At present, the customers are more attracted towards the well-known brands available in the market. Therefore, the best quality of the products as well as the services provided by Thomson group to the customers helps in bringing out the desired positive results for the significant growth of the organization. For the positioning of the brand, the company needs to enhance the desired skills of all its respective customers with the means of suitable training and this will help in working as per the satisfactory needs to the customers which will finally evaluate the overall growth of the organization (O'Guinn, Allen, and Semenik, 2012). As for example Thomson group is delivering the high quality of the services which creates a great impact on the minds of the customers (Older Americans, 2009). The customer service is one of the most important department on which the Thomson group of travels needs to work on. Tactics Marketing mix The marketing mix is one of the most important tools that contribute towards increasing the productivity as well as the profitability of the organization (Otubanjo, 2013). 7Ps are considered to be the most important elements of the marketing mix. These are as follows: Product: The quality of the product is very important in order to increase the selling. Thomson group of travels is offering the wide range of packages to its respective customers in order to increase the reliability of the customers. Price: The pricing strategies enhance the overall performance of the company. The company needs to set the pricing strategies after identifying the offerings from the competitors this will help in formulating the best strategy for the customers (Rice and Atkin, 2013). Place: It is very important to identify the suitable place for the execution of the business processes. On the other hand, a company needs to identify the suitable place to advertise for the products and services of the company (Safir, 2013). Promotion: There are different promotional methods used by various companies to promote with respective products. Different promotional methods include the advertisements on television, use of the social media, campaigning in different places, and use of the radio and uses of internet technology. Physical: This includes the elements of the concerned environment which the different customer experiences. Process: It is very important for any organization to improve the desired systems and processes as this increase the reliability in delivering the products to different customers. In order to provide the unique experience to the customers, it becomes very important to improve the systems and the process, which delivers products to customers. People: The people are very important as this is those particular people who come in direct contact with the customers related to the selling of the product. Digital communication The digital marketing is one of the most important tools that increase the overall performance of the organization. Data transmission, digital communications or the digital transmission is the physical transformation of the desired data from one point to another point (See all the latest innovations, 2015). Therefore, it becomes very important to transmit the physical data for increasing the selling of the different packages of the Thomson group of travels (Silva, 2013). Control It is important to control the execution of the promotional strategies and monitor the ongoing activities. The customers services department works in increasing the desired satisfaction level of the different types of the customers concerned and finally will increase the profitability of the concerned firm. The management team plays the most important role in managing all the desired activities for the marketing and promoting of the services of the company Conclusion Marketing is considered to be more important for selling the products of any organization. This report highlights the marketing plan for the Thomson group travel group. It is one of best as well as largest tour operators. The company offers different types of the packages for all its respective customers such as the adult packages, family packages, and the luxury packages. Situational analysis helps in recognizing the desired requirements and the different happenings related to the demands of the customer within the market segments. Marketing mix evaluates the 7Ps for the successful marketing of the products. It is very important top identify the suitable place for the execution of the business processes. 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