Question

You have just been appointed the new marketing manager for Bon Voyage, a large travel group. Bon Voyage offers a range of holiday packages aimed at several parts of the market including package tour operations, a nationwide chain of travel shops and a fleet of aircraft.

One of the fastest growing segments of the travel market in recent years has been the cruise market. Once the domain of the privileged few, cruises are now available to a much wider target market as costs have come down and incomes have risen. Until now, Bon Voyage has not been a player in the cruise marketplace. It now realizes it may have been mistaken in this respect and wishes to enter the market as soon as possible. The company has negotiated the provision of two cruise ships which will, next season, sail round the Mediterranean and the Caribbean respectively. The ships have just been refurbished and offer the most up-to-date facilities.

Other companies in this market have been predominantly targeting middle-income groups. However, there remains a part of the market which is aimed primarily at the luxury end, with high prices and prestigious ships.

• How to segment this market?
• Which target segment might be best appropriate and why? Discuss.
• How its product offerings in this area might be positioned so as to differentiate if from existing competitors.
• What are the competitors doing to acquire customers?
• What are the segments and customers locking for?
• How much customer trying to pay?
• What market looks like?

Answer 1

A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.

1. After reading that passage I suggest making segment as age-based, socioeconomic status based, travel type(business class, luxury, and ordinary), travel type(airline, ship), hospitality, target customers.

2. The best appropriate target segment is a target to the customer because it helps to increase your business and popularity that can be divided that segment as youth holidays, family tours, special ladies tours, honeymoon etc.

3. To highlights their travel industry product, the travel industry should offer in this area to take the lead in the market by mouth word marketing, providing better accommodation, better transportation, engage with customers on social networks, find a travel niche market, entertainment facilities, food and beverage quality. Providing these product's best services offer a better position from the existing competitors.

4. Competitors doing advertisement, offer a discount, make events, better customer service and provide at optimum cost.

5. Customers look for the accommodation segment, travel segment, socioeconomic segment, payment segment etc.

6. A customer tries to pay as their income, higher-income customers want to pay for luxury services and they not looking for how much amount to pay, the middle-income customer thinks about how much to pay and which service is at optimum cost and the middle income trying to pay less as possible.