The world has undergone through numerous dynamic processes in every niche. The tourism industry being part of it has seen rapid growth of unsurpassed nature over the last several decades. This has been mainly due to the advent of a borderless world and increased information dissemination about the majestic sceneries all over the world with Australia being no exception (Jere, 2001; Peri & Pakroo, 2010). The SmartWorld Travel is a tourism agent who seeks to penetrate a lucrative market in a rapidly growing industry.
The increased number of tourists entering the country provides a smooth path to our company to venture in the tourism industry. The SmartWorld Travel is poised to take advantage of this rapid growth to establish and penetrate the markets. Though the tourism industry is growing at a high pace annually with many competitors in the industry, the company seeks to be premier by providing quality services.
The services and products that the company will provide include pre-arranged tours, custom packages according to the client’s needs, travel consultation and a time progresses making reservations for lodging among other quality services (Jere, 2001). The company will strategically position the product and service to ensure that it is familiar with potential customers. These will include market segmentation, product mix, market mix, pricing and product promotion. This will be done through implementation of a market penetration strategy that will ensure we are known and respected in the tourism industry.
The company ownership will exclusively be owned by the shareholders contributing funds toward the company. In brief, we do not just intend to market, sell our services, but rather to market, and sell travel solutions and a total-quality environment. This will enhance established a reputable cooperate with image.
The company projects to provide efficient and desirable travel and tourism products and services to customers (Linda & Jerry, 2000). The company remains unmatched with other companies in this particular industry. Customers’ needs shall be highly considered through offering optimized solutions to problem that might arise. This shall be undertaken through recruitment of a professional team and the provision of good quality custom-designed packages, appealing to the client’s specific needs. In summary, the objectives of the company are,
- To continuously provide enjoyable quality excursions/trips on time and on budget.
- To respect, control, influence, and provide services according to the customer’s specifications.
- To contribute positively to our economy, communities, and environment
- To develop a product with a strong appeal to the customer and enthusiastically satisfies customer all the time.
Our mission remains creating and nurturing a healthy, respectful, enjoyable sought-after environment and motivated employees molded to respect customers through the provision of quality services.
The name the company shall be SmartWorld Travel. The company shall be strategically located in the Capital city, Sydney to enhance easy accessibility and timely service delivery. Substantial number of outlet branches throughout the country to ensure that the services are at the close of the customer shall support the company (Jere, 2001).
This is a registered corporate under the ministry of tourism. It is licensed to offer retail travel agents services. It conforms to and practically applies the requirements and the regulations in this industry.
Product and Service
The SmartWorld Travel Agent intends to provide travel and adventure packages to tourists, people attending sport events, music festivals, cultural performance, contests and those on holiday/recreation travel. Our services will be positioned very carefully: they will be of extremely high quality, comfortable, informative and tailored to the client’s needs such that they will enable individuals to have a greater appreciation of the natural environment and its intricacies (Rhonda, 2000). SmartWorld Travel Agents seeks to differentiate itself as the premier tourists’ service provider. The company focuses on the quality of products and services, which conforms to the needs of the customers (Linda & Jerry, 2000; Peri & Pakroo, 2010).
Critical analysis and evaluation will ensure that decisions result in optimal solutions to the problems experienced. These ideas shall be implemented in an efficient manner to ensure a strong customer base. Through market analysis, the market shall be segmented into sub markets according to the needs of the customers. This will allow the marketing/sales team clearly identify and focus on the subset of prospects that are most likely to purchase the company’s offer. The market segmentation that is measurable, accessible by communication and distribution channels, durable and substantial enough is adopted.
A basis for segmentation is a factor that varies among groups within a market, but that is consistent within groups. The company has identified four primary bases for segmentation (McKeever, 2010; Thomas & Stephanie, 2001).
- Geographic segmentation- it shall be beneficial in examining variables such as climate, population density, population growth rate and region.
- Demographic segmentation- It is based on variables like age, gender, ethnicity, education, income and family status.
- Psychographic segmentation- it shall serve to examine variables such as values, attitudes and lifestyle.
- Behavioral segmentation- It is based on variables such as usage rate, price sensitivity, brand loyalty and benefit sought.
Market strategy and implementation
The company strategy will be based mainly on ensuring customers are aware of the company existence and the services we offer. Hence, our intention is to make the right information available to the right market target. To achieve these elements, the business will implement a market penetration strategy. SmartWorld Travel will ensure its price take into consideration people’s budgets, that these people appreciate the services, know that it exists and how to maintain the contacts. The company’s marketing strategy will convey the sense of quality in aspect of promotion. Our promotion strategy will include integrating advertising, events, personal selling, public relations, and direct marketing.
The Smartworld Travel intends to employ the management team that has good personal attributes and with exemplary professional ethics. It is worth noting that the SmartWorld Travel Company intends to engage the right people in the right place at the right time if we have to ensure optimum growth. The company will ensure that the team responsible or the management team grows has the company grows hence a mutually beneficial relationship.
The SmartWorld Travel company has developed and summarized its financial plans in a manner that will see the company overcome financial constrains that may hinder it is operations (David, 2002). Through these plans, the company project cumulatively to increase it is sales over a number of years. The company intends to earn a net profit of $300,000, $400,000 and $500,000 in the first, second and third year respectively. With this, the company intends to generate more income to enable it expand in other parts of the world and in the end rewarding the shareholders.
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McKeever, M. (2010). How To Write a Business Plan. California: Nolo publishers.
Peri ,H., & Pakroo, J. D. (2010). The Small Business Start-Up Kit. New York, NY: Delta printing solutions.
Rhonda, A. (2000).Successful Business Plan: Secrets & Strategies. Bryant street CA: Running “R” Media.
Thomas, D. & Stephanie, D. (2001). Writing a Convincing Business Plan. Hauppauge, New York, NY: Barron’s Educational Series.