The Quantitative Strategic Planning Matrix Assignment Sample

• Subject Name : Marketing

Table of Contents

Introduction.

Task 1.

Task 2.

Task 3.

Task 4.

Task 5.

Task 6.

Task 7.

Reference.

Introduction to The Quantitative Strategic Planning Matrix

In the world of digitalisation it is seen that things have become a lot easier to access and operate similarly for companies and organisations. Also communication to the audience has become a lot easier through the websites that they have. When it comes to tourism websites do half of the work starting from the information, the bookings and every sort of query that they have. Marketing plays a vital role in this sector especially for a company like INTRO Travel that has made such aspace in the market (Iskandar & Komara, 2018). When it comes to marketing there are 7 C’s according to which the marketing strategy is made. Those are customer, consistency, creativity, culture, communication, change and channel. Basically these are the things that must be considered and taken care of when a company like this has to do marketing. Customers always come first as they are the one with whom the company deals with followed by consistency. The company has to be consistent with the kind of service or product that they are selling. Then comes creativity to attract and grab the attention of the customer followed by culture. Knowing the culture of the audience makes marketing ang pitching the target audience easy (Lagat & Frankwick, 2017). Communication helps in making better relationships in and out of the company. Change is basically the modification that the company does in order to satisfy the demands of the customer and at the end comes the channel, a medium through which marketing is done.

Marketing - Task 1

A website is a necessary thing for any leading company. Different types of websites have different purposes and it depends upon the business what a company is in. Some of the websites are designed in a way to provide information, some of them are designed to sell products, in the same way INTRO Travels, a leading tourism company has a website which is designed to provide travel services (Sugandini, Irhas Effendi, Sasmito et al. 2018). Customers or any agent can book any kind of travel package from the website, because of the website anyone can directly pay from anywhere across the globe without visiting the office. Website made it easier for the clients to understand the company policies and services. Customers review on the website creates trust towards the company which directly creates a positive image of the brand. Making transparency between the seller and the customer is very important. The way they have made their website, it is very easy for the potential customers to know about the terms, conditions and the kind of service that they provide, also adding an area for the social work done by the company in the website enhances the image of the company (Hoque & Awang, 2016).

Business model refers to how a company is doing business or earning revenue, the same goes to the web business model too. A customer can view the products or services shown on the website of the company and the customer can choose a product or service and pay the applicable amount for the same. The website will send the notification to the customer via Email or Text on Phone as he/she has paid for a service or product and in the same way the notification will also send to the company through Email, Text, Pop Up that this customer has paid for this service or product. Basically INTRO Travel deals with the B to C (Business to customer) model of business. Agents/brokers have a special place in business models whether it is web or not as they bring buyers/clients and charge brokerage fees according to the deal done. Web business model and the traditional business model both have the same agenda of selling product or service and earning money, but when it refers to web business model the advertising also becomes a factor as much as the website or the company is popular more it will generate revenue.

Marketing - Task 2

To sell the product/service it is important to understand the target market of the company. Target market refers to breaking the market into segments and then concentrating on the marketing effort of the company through which it can match the company offered service with the customers needs and desires. Suppose a company which makes baby nutrition food will always target womens and mens of the age of 28 to 40 as they know that women generally use to buy food for small babies. In the case of INTRO Travel the target market will be couples as they usually go for trip after a short time to spend a quality time, Youngsters will also be the target market as they use to plan for adventures in a group so they also need to accommodate with a travel websites, Newly Married Couples are also very curious to visit news places for honeymoon (Lee & Griffith, 2019). School/college officials also plan for educational trips in a year in various places. Travel Agents also have a huge crowd of customers in their locality and they also have fixed customers who have blind faith in the agents. Income level is also a segment as the service offered has a minimum slab and the higher income level consumers buy more luxurious services. A travel company does not have a fixed market or clients as anyone can travel but some of them which are mentioned above are known as the potential clients. Consumer behaviour issues in the target market depends upon the service offered by the company and the way it is being offered is all observed by the consumers. When you offer a good service then the consumer gives you a good rating along with a very positive feedback on the websites which emotionally connects news consumers and also attracts the existing one. Consumer behaviour can be positive or negative. INTRO Travel gives a section to the feedback of the consumers which helps the people to get understanding with the service and the behaviour of the company towards the consumers it does not always go positive. When there is a negative consumer behaviour it should be instantly given a positive reply and service so that the target market should not get affected. Always Listen to your customer, observe their behavior and build strong relationships to make the service better before the competitors do.

Marketing - Task 3

Digital marketing has taken over the marketing industry and for digital marketing there are various analysis tools used in order to make the site better. Even INTRO Travel uses some of the analysis tools for the better functioning of the website. Some of the analysis tools used by INTRO Travel for their site for better digital marketing are:

• Advanced web: this company uses a mix panel or advanced web so that they can have invaluable insight on the audience. The Mix panel uses the information of the audience like how they use the website and other apps so that they can have a better interaction with them.
• Laser-focused content or analysis: making the content on the website attractive and reachable to the audience is very important similarly social media has contributed a lot in terms of digital marketing and any kind of content marketing. INTRO Travel knows how to put forward their content to the audience to get their attention.
• Organic social media: this is the type of media platform where we do not have to pay for any kind of promotion or advertisement without any kind of profit. Digital marketing provided a platform like this to companies like INTRO to target their market by these means.
• Programmatic advertising: this tool helped a lot for a company like INTRO as they can schedule their advertisements accordingly according to the type of audience they are targeting thus this turns out to be quite beneficial and helping. Keeping the audience and the customers engaged with the use of attractive advertisements that are programmed and scheduled helps in gathering more attention to these companies turning out to be quite profitable (Chiu, Liu & Tu, 2016).
• Content creation: this site has contents that are totally related to the places that a family or an individual can visit. They have to have detailed content about the places that they are offering so that the customer does not complain about it. This site exactly does that. The kind of pictures and things they have on this site makes the person visit the site think about visiting the place.
• Email marketing: keeping the customer updated by sending emails is also a kind of digital marketing tool that helps in giving frequent updates to the potential customers about the offers and coupons. This site keeps a track on the person who visits the sites and with the help of the information they collect they try to keep informing the customer about the things and offers.

Marketing - Task 4

Internet marketing strategy is nothing but the strategies that a company makes to market their service or product on the online platform. We all are becoming very digital and day by day we are totally depending on the online platform for any kind of service that we want. For a tourism company maintaining their internet marketing is very important as the customer first tries to collect all sorts of information from the website itself and then tries to contact the company. So making a proper website design strategy is very important which comes under the internet marketing area (Goncharova, Soloshchenko & Merzlyakova, 2019). When it comes to business marketing it is basically a practice that allows an individual or an organization to sell their services or products by helping in making profit for the company. It does not necessarily include an online platform because it deals with all kinds of business related strategies and marketing that can bring profit in business. This is done to promote business and to improve the profit of the company. In any organisation or company both these marketing strategies have turned out to be very useful and profitable. When we talk about the relationship between business strategy and internet marketing strategy they work hand in hand. Using the internet for marketing for a better business is basically what these two things do together. Every company has their own business strategy on which they work and try to bring profit to the company. In business strategy they only deal with the business related stuff but in internet marketing all things are taken into consideration like the kind of image that the brand or the company has, the satisfaction of the customer, their feedback and so on. Merging these both made it easier and flexible for the company as more there is transparency between the company and the customer more will the business therefore they share such a relationship that if used wisely it can cause a lot of profit to the company (Kanagal, 2017). In business strategy as well as internet marketing strategizing knowing the audience is the primary point and the customer is the primary target therefore both need to do proper market research before planning and executing any sort of decision. Business is mainly target oriented and looks mostly on the sale but marketing considers every aspect which turn out to be quite beneficial for the company or the organisation especially the one which handles their customers through online websites.

Marketing - Task 5

In a company like INTRO Travels which is one of the leading tourism organisations in Australia it is very important for them to know what exactly are the demands of their customer. They have to know their requirements first by doing proper market research lso that attracting and grabbing the attention of the customer becomes easier for them. Attractive content and presentation is done for the better understanding of the site by the customer so that they can easily figure out the kind of facilities this company is providing them. Creating a potential target market also comes under this (Moorman & Day, 2016). It is very important and definitely ,influences the image and the service provided by this company. A target market is basically a group of active or rather potential customers to whom the company targets and wants to do business with by selling any kind of product or service. INTRO Travels has thousands of potential customers who are totally satisfied with the kind of service that they provide. For a company like this being in the market becomes difficult sometimes because of the rising competition in the market. There are other tourism agencies as well in the market who promise the same kind of services and facilities but it is the kind of way of presenting themselves as the reason why more people choose this company. The online website that this company has is very attractive and at the same time it is very simple because of which it becomes easy for the customers to know more about their terms and conditions. Satisfying the needs of the potential customers is very important for them. Even the reviews that this company gets shows the transparency that it has with their customer making it a reason for trusting them.

When it comes to the competition this company definitely has a handful of them. Some of the leading competitors that this company has are Ultimate travels, Cosmos etc but still this company has yet maintained to satisfy their customers with the services (Alias, Mohamad & Shuib, 2018). Targeting an audience basically means knowing their needs and creating a strategy to make them buy their services. Therefore their first priority is to try to know their audience and their requirements and work on the plans and strategies. Thus according to the reports they are the leading tourism agency with the highest number of customers who are happy with the facilities they provide.

Marketing - Task 6

Communication mix is basically a technique used by any company to communicate with their customers or rather to be specific to the active customers so that they can see better results in their company. Different elements that communication mix deals with are advertisement, social media, digital marketing, direct marketing and so on. All the elements work according to make marketing possible and better for the customers. The different elements of communication and how they are different from each other are mentioned below:

• Advertisement: it helps in covering all the aspects where it comes to paying off the business and related broadcast. Advertising and media has been working together in sync since a very long time be it television, radio or any other sort of medium (Kozlovskiy, Shaulska, Butyrskyi et al. 2018). The Internet being one of the most used platforms of any kind of advertisement in this new era.
• Public relation: for any sort of marketing or communication creating or presenting a positive image is very important therefore public relation helps in maintaining the positive image of the brand or organisation by applying strategies, partnership with media or any relevant organisation that turns out to be beneficial for the promotion or communication (David, David & David, 2017).
• Sales promotion: unlike the other two elements this only works for the promotion of the organisation or product by various methods such as distributing coupons, prizes,product samples and so on. It is totally business oriented and not like public relation works on the positive impact of the product.

Every company especially when it comes to a tourism company direct and digital marketing has proved to be very helpful and profitable as the tourism company is totally based on advertisement and marketing. They do not deal with selling products so they have to attract the audience and connect with them to provide them with the kind of service that they demand for (Sriduangkaew, 2017). Digital and direct marketing is comparatively cheaper than other types of marketing as it involves social media, emails and stuff. One of the major benefits of direct advertisement in tourism is the way they approach the target. They do the best and the most accurate market research on their customer as they are directly in touch with the customer knowing their demands as well as their complaints. Thus this method is an attractive way to market and the results can also be directly measured because of the feedback that they get from the customers (Liu, 2016).

Marketing - Task 7

Marketing mix generally comes up or rather revolves around the four factors that are required to be looked after whenever any organisation is trying to create a space in the market for the customers to know and get influenced (Nizam, Jaafar & Supaat, 2018). It is basically said to be the four p’s that makes up the framework which consists of the product, the price, the place and the promotion. These are the major factors that make up a marketing mix. The Internet has a lot of influence on all the factors of marketing mix for any kind of product or services. For better market research the internet can be very useful. Not only that internet can also be used for reaching new customers as well as the market, for providing better service to the customer, for quick distribution of products by promoting it on different mediums and channels. Let's see how the implication of the internet is done on the components of marketing mix and how it influences marketing. The components and the influence are mentioned below:

• Product: considering the feature of any kind of product, service or even a brand that tries to reach and research about the audience and the needs of the customer is basically done so that the organisation can bring modification in their service or product according to the requirement of the customer. The Internet helps a lot in knowing the customer and reaching them easily so that the organisation or the company can help them with the kind of product or service they need (Kurnianto, Syah, Pusaka et al. 2019).
• Price: internet helps in keeping track of the rising price of the materials as well as the competitors so that the organisation can make strategies and increase or decrease the price according to the market and their convenience.
• Place: when it comes to place the website provides you with all kinds of information about the proximity and other factors. This factor works best for the tourism organisation as the customer can easily research the place and facilities and availability according to the requirements that they have (Dzulkarnain, Ariqoh & Maulida, 2019).
• Promotion: the internet plays a great influence in terms of promoting a brand as it becomes very easy to reach out to a large number of audience or rather customers through just one click (Mustapha, 2017). Therefore promotion of any brand, service or product through the internet is not only profitable but also cheaper than that of other kinds of promotion strategies.

Reference for The Quantitative Strategic Planning Matrix

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