The Marketing Plan

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The Marketing Plan Developing a Marketing plan As with any business venture, your entry into international markets should be well planned. A detailed marketing plan should be developed to provide a blueprint for your marketing activities. Whether you are a small family run attraction or an international airline, the principles for a marketing plan are the same. The purpose of marketing is to match the right product to the right market, providing an optimum return on investment. It is more than just advertising. Essentially there are four elements (the four P’s) of marketing: product, price, place and promotion. A good marketing plan incorporates a combination of these elements. Writing a marketing plan is one of the most important…show more content…
Understanding your consumer target markets will guide the development of your product, how you price your product in the marketplace, where you offer your product for sale and how you promote your product to consumers. Consumer characteristics such as age, socio economic background, lifestyle choices and personal values, as well as identification of their key needs, will further define those consumers who may be interested in your product. Targeting particular countries or market segments enables you to more effectively tailor your product and your marketing and promotional activities. Many travel and tourism products make the mistake of trying to appeal to all markets and all people. When dealing in the international markets, it is impossible to be all things to all people. Don’t try to enter every market at once, select your markets carefully and take the time to plan your approach. Plan your strategy carefully, allocating your resources to the most appropriate markets which will generate the greatest return. Consider the following points when selecting a target market and consumer segment: > What does the consumer (or market) want? > What can I provide to meet the consumer’s needs? > What is the size of the market? > Is the market large enough to support the marketing costs required? Will I receive a return on

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