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Our MRKT 3240 presentation

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  • MARK
  • MARK
  • MARK
  • AL
  • AL
  • AMAAN
  • AMAAN
  • MARK
  • MARK
  • MARK
  • MARK
  • MARK
  • AL
  • AL
  • AL
  • AL
  • AMAAN
  • AMAAN
  • MARK
  • AMAAN
  • AMAAN

Transcript

  • 1. STS Tours ... taking you around the world ... taking you around the world
    • Presented by: Mark W, Amaan F, Annaelisa H
  • 2. Agenda
    • Company Background
    • Environmental Analysis
    • Critical Issues
    • History of Issues
    • Organizational Analysis
    • Alternatives
    • Recommendation
    • Timelines and Controls
  • 3. Company History
    • Started in 2001
    • Group Tours Worldwide
    • Customized tours, not price-focused
    • Family run & part-time employees
    • Business partners in foreign areas
  • 4. Market Conditions
    • 1USD = 1CAD - 20% increase from 2009
    • Food and gas costs increase flight costs
    • Decrease in tourism rates in 2009
      • forecasted increases for 2011/2012
    • Internet bookings increase
      • group bookings must be done over telephone
  • 5. Competitive Analysis
    • EF Tours
      • low cost, minimal customization
    • Meridan Tours
      • high cost, fully customizable, cadillac
  • 6. Competitive Analysis
    • Explorica
      • average cost, customizability available
      • use of social media
      • interactive website
      • http://www.youtube.com/watch?v=tFMaGFXDMwU
    • Student Travel Abroad
      • lowest cost, no customization, grouping individuals
  • 7. Company Situation
    • Stagnant growth (fluctuating)
    • Require a communications plan to contact secondary schools
    • Weak online presence
    • Goals:
      • $5 million revenue per. year
      • Retire in 10 years
  • 8. Critical Issues
    • Improve the communication plan for future strategy to achieve long-term growth
    • Increase potential client response rate within the secondary school market
    • Increase effective online company presence
    • Refine the promotional strategy to uniquely position the business within the market
  • 9. Historical Factors
    • Communications plan + response rate
      • minimal advertising
      • 1.2% response rate (action) rate - 200 mail/2-4 clients
      • rely on referrals
    • Promotional strategy
      • shotgun, no competitive advantage in advertisment
    • Online presence
      • website very difficult to navigate
      • no other social media tools used
  • 10. Organizational Analysis
    • Promotional spending
      • varies based on sales, more sales, less promo
        • no man-power to handle both
      • year-on-year growth +25%,....+25%
      • industry profit margin .02%, STS 3%
        • control of costs to maintain profitability
    • Internal efficiency = external expansion
  • 11. Organizational Analysis
    • Communication - market awareness
      • small scale advertising
        • now $7.60/ad, est. $2.45/ad
        • 225% more cost overall, but 750% audience
      • 2 years since last website update
      • have no social media to build awareness
      • customer has willingness to search
        • not present = not searched
  • 12. Organizational Analysis
    • Communications - market response
      • $145.5 million market size (secondary schools)
        • STS - .73% market share
      • $760 average acquisition cost, est. $121.60
        • based on past and suggested advertising initiative
      • strong loyalty base
        • 75% return, 25% trial (per year)
    • High costs due to inefficient marketing and potential to obtain many more customers
  • 13. Alternatives
    • Status Quo
      • Continued cost management = 5-10% ^ profit
      • No growth
    • Hire New Employee
      • Part-time
      • No support for growth, only for busy season mgmt
    • Full-time
    • Potential to increase by 11 tours by answering quotes
    • Covers 82.5% of cost
    • Supports long-term growth initiatives
  • 14. Alternative - Increase Online Presence
      • Website
        • Search engine optimization
        • Welcoming front page
        • Easier to navigate
        • Add follow on Facebook, Twitter, YouTube, etc.
        • Contact information better accessible
        • Regular updates
        • Fix contact form and tour list
      • Measuring : view counts, visitor count, number of clicks
  • 15. Alternative - Banners
    • Search engine marketing banners
      • 1. example: Google adwords
      • Pops up with relevant search word
      • Company makes it’s own adds
      • Banners can be edited often
      • Easy to measure
      • Pay only for click-throughs
    • Banner trade
    • Also different social media banners available, focus on Facebook banner option
    • Measuring: Number of impressions, click-through rate,cost per thousand impressions
  • 16. Alternative - Increase Online Presence
    • Facebook
      • Base information on profile, pictures
      • Status messaging with news, updates and information
      • Answering customer questions
      • Measuring with likes, followers
      • Social mention, icerocket.com, etc.
    • Twitter
    • Shorter messages
    • Especially good with fast response and feedback
    • Measure: followers, tweets and trends
    • Tweetstats and trendistic
  • 17. Alternative - Increase Online Presence
    • Youtube
      • own video footage, video footage from pleased customers
    • Flickr
      • Pictures featuring travel targets
    • Invite happy customers share their own experiences in social media with videos, pictures and stories
      • creates reference feedback
      • Increases presence and number of mentions online
    • Consumer Generated Data most often more relevant to customers when making decisions than own marketing
  • 18. Alternative - Increase Awareness at Secondary Schools
    • Presentations at schools
      • presentations in classes, assemblies, professional development days
    • Scholarship/bursaries
    • Book donations
  • 19. Alternative - Increase Awareness at Secondary Schools
    • Measuring:
      • Brand development index
      • Marketing penetration
  • 20. Recommendation
    • Rent new location
      • Support new employee & business growth
    • Hire new Employee
    • Traditional Marketing
      • Revamp brochure/flyer Ad
      • Phone call follow up
      • In-school advertising
      • Tour booklets
    • Tourism Booklet Distribution
    • Bursary Program
    • Website management
    • Social media addition
  • 21. Implementation Timeline
  • 22. Controls
    • Comparison of Yearly Incomes
    • Quote Requests
    • Active Tours
    • Group Sizes
    • Canadian Market Share
    • Evaluation of Repeat Customers
    • Website Hits
    • Fans, Followers, Likes, Mentions, etc.
  • 23. Conclusion