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Assignment 1
The following vignette introduces the buyer decision process and the marketing concept. The marketing concept suggests that organisations that best satisfy the needs of customers are best placed to satisfy the needs of the organisation. Segmenting, targeting and positioning a product are key tasks for marketers who wish to appeal to a particular target market. This vignette also serves to distinguish between customers' needs and wants.
Phil and Becky are DINKS in their late 20s; they have been married for nearly 3 years. They are both hard working professionals and they met through work [Phil is a photographer and Becky works for a marketing consultancy]. Work is going reasonably well and both have had promotions at work; they have good salaries, a mortgage that is under control, and without children have enough disposable income for a few luxuries. They typically start planning for their annual vacation in February. Becky states that part of the fun is in the planning. Phil feels that it gives him a reward for his hard work. Prior to meeting they both travelled independently [often referred to as free independent traveller or FITs] and both have travelled with friends. This year they plan to celebrate their 3rd wedding anniversary and would like to have a vacation that marks the occasion.
They could be described as 'connected consumers' and are comfortable with the different methods of searching and accommodation booking. One of Becky's 'facebook friends' has been posting about her cruise and it sounds exciting plus her friend is getting heaps of 'likes'. Phil and Becky have never been on a cruise before and the prospect of multiple destinations and only unpacking once appeals to Phil.
At work Becky finds herself daydreaming – she thinks it may be the last romantic holiday for a while as she and Phil have always been keen to have a family. Just then her boss calls her into his office.
'Becky one of our clients wants a marketing report on the cruise industry and I was hoping that you would agree to do it. The 2014/15 cruise season has proven to be a record with more than 642 scheduled visits to Australian ports resulting in considerable marketing activity. With some 36 cruise ships operating in Australia, it is worth researching'. 'Do you think Phil would agree and take the photographs for the report?'
Assignment instructions
Your task is to undertake in 10 pages [excluding cover page, contents, and references] a detailed marketing report that addresses the following:
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The below report is a detailed strategic and market analysis of the Australian cruise industry. The report first focuses on the growth and trends in global cruise industry. Australian cruise industry is found to be the fastest growing cruise industry today. Along with the growth story, a detailed analysis of the cruise industry is attempted in terms of the destination choices, state wise contribution to the industry and the duration statistics of a cruise travel.
Post analysis of the cruise industry of Australia, the market is segmented on various categories. The factors for segmenting the cruise market are chosen as age, income level and state of dwelling. Segmentation helps us to understand the requirements of the several segments of customers in Australia. Post segmentation, positioning strategy for the targeted customers is being discussed. The approach chosen is generic without any special attention to any particular customer segment. Positioning is followed by a designing a generic target strategy for cruise companies.
After a generic analysis of Australian cruise industry in terms of segmentation, positioning and target strategy, Phil and Becky are chosen as the target customers. To analyse requirements of this couple, at first their profiling is done. Their profiling is attempted on the basis of their age, income level, mode of communication, etc. as stated in the case. A target strategy for Phil and Becky is also designed based on the profiles developed of the couple and similar customers. The target strategy is decided on the basis of five factors. The whole report attempts to design an effective business and marketing plan to attract Phil and Becky to experience a cruise travel
A mode of transportation once became a source of tourism and adventure. The cruise industry is one of those industries where the transportation itself is the biggest part of the adventure. Cruising in the vast seas and inland waters provide tourists a sense of relaxation and peace. There are also destinations for travelers during their journey. However, there are also 'travel to nowhere' cruise travels where passengers travel in cruises only for a voyage in the waters without having to go to any destination. Cruising has become a major part of the tourism industry. By 2011, the total cruise industry was worth of the US $ 30 billion. The cruise liners also provide a set of facilities as a part of the cruising experience. These facilities include dining, casinos, spa, fitness center, shops, library, theaters, swimming pools, gyms, clubs, buffet restaurants, gaming, etc. Cruise industry continues to grow handsomely with a total passenger count of around 21 million (CLIA, 2014). The total market worth of the industry is around the US $ 117 billion. Also, the demand for cruising has increased globally and the passengers' numbers rose to 23.2 million from 12 million. This increase in the last decade has been an impressive figure of 77%. As far as a contribution in the number of passengers to the cruise industry is concerned, North America along with the USA leads the race with a contribution of 55% of global passengers. The next in the race is Europe with a contribution of 30% of global cruising passengers. The rest is constituted by Australia, Brazil, and China.
