Business Description & Strategy
The tourism industry has undergone extensive growth over the last several decades. I intend to penetrate this lucrative market in a home-based venture as an independent travel agent. I will associate with travel agencies willing to work with me. I will refer business to them and for each sale, receive a commission fee.
My business strategy will be mainly on delivering exceptional service geared towards my motto of timeliness, quality and value. This will create my competitive edge as I build a strong image and awareness through consistency and distinctiveness in my service provision. I will nurture my clients, differentiating my service from my competitors, particularly through service and courteous behavior. Continuous training and knowledge up-keep will be conducted on a regular basis to ensure that I fully meet customer expectations.
My marketing strategy will emphasize focus. My company is new and will be under sole proprietorship and hence must focus on certain kinds of services with certain kinds of clients. Initially, the business will focus on my target market of baby boomers, aged 50 and over. This aging population has evolved into the retirement stage, and travelling is leisure they continuously look forward to. I will position my company as a niche service provider within the cruise sales market. A marketing campaign with a good combination of the marketing mix will convey a sense of quality in every picture, every promotion and every publication. My promotional strategy will involve integrating personal selling, advertising, direct marketing and social media. I hope to position my company within a small scope and as time progresses, and while I gain the necessary experience, I will expand my market and services.
The financial element will be crucial in maintaining my business and meeting objectives. The...