Travel Supreme is a start-up travel organization with the mission of assisting customers with travel planning. While today's customers enjoy developing their vacations themselv., Travel Supreme believ. there are travel .rvices that are still in demand. Initial r.earch needs to develop what typ. of travel servic. are in demand by this target market.
1.Provide a segmentation a. target market analysis. In this section of the marketing plan you should identify the four criteria useful in segmenting the market, a. apply them to your company. Explain how identifying the target market is more clearly defined once a marketer has conducted segmentation on the population. Explain .veral target markets for your company using detailed explanations.
- Include a competitive and industry analysis. This .ction of the marketing plan should identify thr. or four competitors of your company. The. can be direct or indirect competitors. (Note: Not all compani. have competitors.) Differentiate each competitor based upon multiple criteria. Additionally, conduct an industry analysis by looking at the health of the industry in which your company resides. Identify whether the industry has grown or shrunk in the last 5-10 y.rs. Explain why understanding the competitors and the health of the industry are important elements of the marketing plan.
- Provide a SWOT (strengths, weal<nesses, opportunities, and threats) analysis. In this section, you will compile a SWOT analysis of your company. The internal strengths a. weaknesses as well as the external opportunities and threats need to be identified and explained (include at least 2, elements under each area of SWOT). The value proposition will be demonstrated through a strong showing in the strengths section of the SWOT analysis.
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