In recent era, many people are doing their jobs far away from their homes so, they will prefer a medium which help them to reach out there rather driving their own vehicles because it might be costly for some people whose income is not that much high. Looking to all the criteria regarding the need of people, we have decided the product which will meet customers’ need. Here, we are much clear about the objectives of providing efficient services to the customers who prefer to travel with our medium of travel.
We will develop the different kinds of strategy which can be fruitful to us to analyze the need of the different customers in the market because in market there are many identical agencies who are also offering the services to the existing customers. So we will consider all due factors which can help to find appropriate segment for our product. COMPETITIVE ENVIRONMENT AND ENVIRONMENT SCANNING Before entering into any service sector, we have to take care of certain things into the mind like competitive environment, market area of the service and profitability of it and so on. Competitive environment:
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First of all, we need to identity our competitors in the market and after that what are their position in the market and how much market share they have. Our major competitors are 1. Mahasagar 2. Eagle 3. Shreenath 4. Ashvamegh 5. Patel Except above mentioned travel agencies, there are many localize firms out there into the market who are catering similar kinds of services. Environmental scanning: Environment scanning will help to identify the target market for which agency is made. By scanning various factors, Agency will successfully capitalized on the new marketing environment.
We will scan few factors while entering into market as given below. * Economy condition of travelers based on that service would be provided * Needs and trends of the market for agency * By offering low price, corporation will draw new customers and market share as well. * Accessibility of customers is required to consider. VALUE PROPOSITION The value proposition consist of the whole cluster of benefit the company promises to deliver, it is more than the core proposing of the offering. No corporation will sustain without considering benefits of the customers in competitive market.
Our core proposing is providing transport facility with safety. Our travelling agency will provide certain benefits to grasp the market, which are as under: 1. Pick up facilities at near the houses 2. Push back facilities for customer’s comfort 3. Mineral water 4. Breakfast facilities during regular interval 5. Entertainment facility (Movies) The value proposition is statement about the experience customer will gain from the company’s market offering and from their relationship with supplier. Deliver Satisfaction & Maintain customer loyalty:
Value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering. In simple word way of deliver satisfaction is a set of core business proposition that help to deliver distinctive customer value. The way to satisfied customer is to providing more benefit than any other competitors provide. We are giving or delivering all benefit to customers and giving best experience to using product. Our provided facility meets easily customer expectation. It is said that if you want to satisfied customer then know his expectation.
Loyalty of customer is refers to stick on to particular brand. Loyalty of customers to particular brand depends on brands offering & benefits. Our provided facilities satisfied customer but new facilities which we promise to provide customers is help to maintain customer loyalty. One of reason is that we tried to providing best services to each customer. Consumer Market By analyzing consumer market we can easily come to know about behavior of customer. Behavior of customer depends on several factor like cultural, social, personal & Psychological factors.
In our business of traveling agency choice of customer to travel in bus largely affected by social class of people. Mostly middle class people are traveling through buses. We are also providing best facility or lavishness for upper class group. In short run group of higher class choose to travel through his personal vehicles but in long run they want comfort and choice to travel through bus which providing luxurious facility & also match with its personality & lifestyle. Branding Branding is like name is enough to sell your product.
It may be logo punch line, symbols & slogan. Your brand should be known in the market is called brand equity. Branding strategy: Our brand is very well known to our target market. We are also give timely advertisement through different media newspaper, Electronic media to maintain share of heart of customer. Our slogan is for branding is “TRAVELING IS FUN” which is already crafted on our bus, so it is always memorable to our customer & give cognizance to our brand. Dealing with competition Our primary competitor is as we discussed patel, mahasagar, eagel, etc.
As eagle having major market share and being market leader in travelling service, the niche market strategy adopted by eagle is by launching ‘mercedize-benz” for targeting upper class segment of the market by providing luxurious services and facilities to satisfy the customers. SETTING PRODUCT STRATEGY Our provided services is unique in terms of characteristics & better then competitor. Most advantage provided by us is main component of service that is price. Our price for trip from one place to another place is competitive. We are also providing holiday packages. Services levels
Each levels adds more customer value and the five constitute a Customer Value higherchy. Designing and managing service Pricing Strategy So far we are discussing we are providing competitive price for trip. Now we will discuss what are the main strategy for setting price. Pricing Strategy Pricing objective should be Market skimming, Maximum market share, Become a best service provider, Survival, Maximise profit etc. Our objective is create and increase market share with delivering value to customer which help to become a best service provider. In our business of traveling prices for trip may be fluctuate time to time on the basis of demand.
In summer vacation holidays trip becomes costlier. During off season prices for trip is lower by offering discounting schemes. Cost is also more affective factors for determining price of trip. Because this factor can’t be ignored by owner. Cost may be maintaining cost of buses, fuel etc. Competitor prices also consider while fixing the price of product. Because if price of competitor is lower than us then passenger will move or switch over to competitor. There are various pricing methods to decide price of products. We are using markup pricing methods.
In which cost of service is determined and then expected profit percentage will be added to the cost of services. We are also considering price of competitor which is running in the market. After applying the markup method of pricing we will charge or ticket price is decide for various trip. Marketing Channels There are 3 types of marketing channels. We are using newspaper & television advertisement as communication channel. Sometime we are distributing pamphlet with newspaper in the time of vacation. For delivering and promoting our service of traveling we have agents who are facilitating services.
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