Tourism Marketing Principles for Modern Travel Case Study

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Section 1: Company Background

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A. Describing the background of organization

The organization Thomas cook has set up in the year 1881, this is the leading organization is Omni channel travel in the country. It offers broad spectrum of services which includes the corporate travel, foreign exchange, Leisure travel, MICE, Visa and Added services. Company has invented the modern tourism, the founder cook has left the school in the age 10 and had done various job till the year 1828. In the year 1841 the Thomas cook has influenced the midland countries company of railway to start the train between the Loughborough and Leicester. In the year 1860 the Thomas cook conducts the tour which is personal and became agent to sale the travel ticket and domestic.

B. A brief introduction of the chosen company from the tourism industry

The organization which is Thomas cook has been founded in year 22 November in year 1808 was the best travel agency. The founder of the organization is Thomas cook; he was the initial developer of the organization and developed the package tours which include the accommodation & travel. The organization is the leading travel company on the global level and offering various tour packages with the domestic and international range to the customers (Thomas Cook, 2023). The Thomas cook was a British charter and it headquartered in Manchester, England. In the year 1828, he became the Baptish missionary and persuaded the country of Midland to run the special train in Loughborough and Leicester.

Section 2: External Analysis

A. Discussing the micro and macro environment with identification of the customers.

Micro Environment: It defines aspects which directly connected with the organization and put impact on the activities of the organization. Customers, suppliers etc are the main micro elements by which organization can influence the performance in the day to day activity. The main consumers of the travel industry are the travellers which include the families, group of travellers and travellers who are businessman. The needs of the each customer are different from others. Some prefers the relaxing travel and some demands for the adventure travel. The needs all depend on the customer according to their choices. The customers can book their travels on the online platform or face to face. The competition is high in the industry due to excessive demand of the travellers. There are numerous of the travel agency which are offering the smooth travels. In this industry there are numerous employees which are working for the travellers (Goryushkina et al, 2019). This includes guides, sales team, frontline employees; the employees make sure about the satisfaction of the customers.

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Macro environment: The economy aligns with the travel industry due to the highest income rate. Due to pandemic, disposable income of customers is affected adversely and increasing health concerns also put negative impact on organization’s performance. The advancement in the Technology has impacted the travel industry in the positive manner. Due to the technology the industry has boosted on the online platform and increased the customers (Yun and Liu 2019). The travel organization needs to align with the government regulations and policies. The travellers need to be aware about the problem which the environment is facing. This needs to use sustainable practices for reduce the environmental issues.

B. Analysing the organisation’s competitive situation by porter’s five force

 Porter’s five forces can be used by the managers of the Thomas cook organization to know about the profitability and improve the strategies of the organization.

Threat of new entrants: The New entrants in the travel industry bring the innovation and new methods and put pressure on the organization via the strategy of lower strategy. These also include the new value of the prepositions and reduce the prices. The organization has been managing the challenges and building barriers which are effective to secure the competitive edge.

Bargaining power of the suppliers:  In the travel industry all companies buy the raw from the multiple suppliers. The suppliers are on the dominant position which can reduce the margins of the organization. The suppliers of the organization can use the power to reduce the higher price within the Thomas cook (Thomas Cook Group Plc Porter Five Forces Analysis, 2023). The impact of the suppliers bargaining power, this lower the overall profit in the travel sector.

Bargaining power of the Buyers: The buyers always demand a lot in this sector. The customers always focus on the best offering via the available prices. This can put pressure on the Thomas cook organization in the long run. The customers have the high bargaining power in the Thomas cook Group Plc. and have the ability to seek the offers and discounts.

Threat of substitute services and products:  Due to the new and similar services, products the organization’s profits suffers the most. There are numerous services providers in the tourism industry.

Rivalry among the existing rivals: The rivalry among the existing competitors in the tourism industry can drive down the profits. The organization Thomas cook Plc. has numerous of rivals and operates in the competitive travel industry.

Section 3: Internal Analysis

A. Identifying an internal analysis focusing on the organisation's capability by using SWOT

Strengths	Weaknesses
Ø One of the largest and oldest global travel groups in Europe. Ø Strong brand presence. Ø Global-level operations. Ø Huge customer base. Ø Offers convenient and budget-friendly travel.	Ø Struggling due to financial condition. Ø Too many brands. Ø Limited market share. Ø Poor website reviews.
Opportunities	Threats
Ø Rapid industry growth. Ø Opening new resorts and hotels. Ø Global expansion. Ø Promotion of local tourism ("Love Local"). Ø Digitisation of operations.	Ø Increasing competition. Ø Uncertainty in the airline sector. Ø Dynamic government regulations. Ø Rising cost of materials.

Strengths

The organization is one of the largest and oldest global travels in the Europe:  The organization is one the largest travel company overall the world. This is serving almost the 20 million customers in 15 countries. The Thomas cook is offering the different services including the hotels, tour operations, forex and airlines.

High and strong presence of the brand: The organisation is working with more than 8 brands in the 200 hotels and 190 brand which is own. The organization is using the different kinds of promotions and advertising such as TV ads, digital marketing and much more.

Global presence: The organization is serving in the 16 countries with the different kinds of facilities. The organization has global acclaimed in the services such as holiday packages, hotels and resorts, tour operations, forex.

Weaknesses

Facing struggle in financial condition:  The Thomas cook is declining the performance on the financial bases which is utterly upsetting. Due to the financial condition the organization is facing numerous of challenges.

Numerous of brand: The organization is working with the 8 brand names, 190 hotels of own brand. Due to the numerous of brands the customers might be confusing.

Poor website review: The Thomas cook is providing the multiple services but some customers are unsatisfied with the services and complaint about it (Khan et al, 2019). On the website and social one can see the complaints from the customers and unsatisfied reviews.

Opportunities

Growing at a fast pace:  The organization is the largest company in the today’s world, this growing with the maximum speed on the global level (SWOT Analysis of Thomas Cook, 2023). This is the biggest opportunity for the company to expand the services with the more profit.

Opening new resorts and hotels: The organization is opening the hotels in the Spain, Turkey, Egypt and Greece. The organization has the opportunities to open in the numerous of countries in the new market.

Love local: The concept of the love local is activity based on the Thomas cook group. The activity is based on the traditional and local activity which attracts the new and old customers. This is the best way to proposition for the organization in the different market.

Threats

Growing competition:The organization is the largest service industry has lot of competitors. Moreover, some other companies are providing low costs due to it organization has threats to the other companies.

Tourism Marketing Principles for Modern Travel Case Study

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Uncertainties in the sector of airline: Thomas cook is facing the low profitability in the airline business. This is affecting the financial performance of the organization. The airlines business is the biggest threat to the business. However, the sector is also considered as uncertain sector and anticipation bankruptcy.

Dynamic Government regulations: The government affects the Thomas cook Plc. directly, due to the major setbacks the organization needs to take care of the government regulations. The main threat for the organization is the dynamic government regulations.

Uncertainties: Due to the accidents everything can be changed, some events such as Brexit disturb and global trade war in the world. These kinds of situations always need the immediate action and attention.

Section 4: Sustainable and Ethical Marketing Practices

A. Defining the sustainable practices

The sustainable marketing is about the promotion of the social and environmental responsibilities about the practices, brand value and products. The organization is spending bit more for something which is locally sourced 100% and recyclable is known as sustainable marketing (Segal 2019). This is the one of the aspect to choose the brand position and can be used in the right and powerful way.

B. Company engage in sustainable and ethical marketing practices

The organisation is engaging in the ethical and sustainable marketing practices. The Thomas cook has been working on the sustainable practices from years (Corporate social responsibilities Thomas cook, 2023). The organization has major focus on the environmental friendly practices.

C. Marketing methods the company engage to ensure ‘Sustainable Marketing Practices.

By utilising the Triple bottom line theory, the organization has working on the social, environmental and economic practices.

People (Social): The organization lays more focus on fair labour system and giving more priority to the locals which is highly connected with the wellbeing of people.

Plant (Environmental): Organization is demonstrating the environmental friendly practices and focus on the sustainable travels (Triple Bottom Line, 2023). The organization is working on reducing the carbon footprint.

Profit (Economic): Due to the sustainable practices the organization is balancing the economical practices for the development. This can improve the profits on the eco-friendly practices.

Section 5: Future Development

A. Identifying the issues raised by the marketing audit.

The organisation is facing some issues due to the marketing audit which is related to the market share. The support from the poor management is the biggest challenge for the organization (Chen and Yang 2019). The customers are unsatisfied due to the services which impacting the overall customer base. This is difficult for the Thomas cook plc to work with the market trends, this is emerging and organization align with it.

B. Analysing the existing market strategy

The organization should focus on the online presence in the market place; this can increase the profits of the organization. By making use of the digital platform such as social media, Instagram, Twitter, Facebook and can do the advertising as well.

The organization ought to focus on the sustainable practices; these can attract the customers as well. Moreover, now customers give more priority to the organization which performs operations in an eco-friendly manner.

The organization needs to customise the travel packages according to the demand of customers and it can satisfy the customers as well. Further, by taking reviews from customers firm can make significant modifications in the existing offerings.

The advertising by marketing channels which are ethically and provides the data to the customer and they can get the actual information. Thus, by placing advertisements about festive offers, discounts, exclusive tour plans Thomas Cook can entice decision making of large number of customers and thereby maximize sales.

References

Books and Journals

• Chen, H.C. and Yang, C.H., 2019. Applying a multiple criteria decision-making approach to establishing green marketing audit criteria. Journal of cleaner production, 210, pp.256-265.
• Goryushkina, N.E., Gaifutdinova, T.V., Logvina, E.V., Redkin, A.G., Kudryavtsev, V.V. and Shol, Y.N., 2019. Basic principles of tourist services market segmentation.
• Khan, K.A., Çera, G. and Nétek, V., 2019. Perception of the selected business environment aspects by service firms. Journal of Tourism and Services, 10(19), pp.111-127.
• Segal, M., 2019. Key audit matters: insight from audit experts. Meditari Accountancy Research, 27(3), pp.472-494.
• Yun, J.J. and Liu, Z., 2019. Micro-and macro-dynamics of open innovation with a quadruple-helix model. Sustainability, 11(12), p.3301.
• Online
• Thomas Cook. 2023. Online. Available through < https://www.britannica.com/topic/Martin-Luther-King-Jr-1929-68-2229053.>
• Corporate social responsibilities Thomas cook, 2023. Online. Available through <https://www.slideshare.net/jagdishkumar76/corporate-social-responsbilities-thomas-cook>
• SWOT Analysis of Thomas Cook, 2023. Online. Available through <https://www.eatmy.news/2022/08/swot-analysis-of-thomas-cook.html>
• Thomas Cook Group Plc Porter Five Forces Analysis, 2023. Online. Available through http://fernfortuniversity.com/term-papers/porter5/lse/501-thomas-cook-group-plc.php
• Triple Bottom Line, 2023. Online. Available through <https://uwex.wisconsin.edu/stories-news/triple-bottom-line/#:~:text=Triple%20bottom%20line%20theory%20expands,people%2C%20planet%2C%20and%20prosperity.>