Essay Example on Fourth and Fifth Stages Consolidation Stagnation

Subcategory:

Category:

Words:

342

Pages:

1

Views:

91

Fourth and Fifth Stages Consolidation Stagnation The beginning of the consolidation stage takes place after a substantial growth period The fourth and fifth stage are very challenging for Antarctica as destitution psycho centric appear A slower growth in the demand rate or a decrease in the destination s market share drives TCS to adjust to a decline in growth rates The moment the number of wealthy Chinese generation Y holidaymakers reaches its peak the expedition is on the fifth stage The expedition goes out of fashion for the target group TCS s main goal is to maintain its market share by sustaining customer loyalty How By starting a loyalty program that rewards the wealthy Chinese generation Y with special access to the products or services of luxury partners and by creating a Chinese virtual community linked to a CSR cause For example set up a charity and link it to the TCS brand It is vital to stress on TCS s brand differences benefits and encourage brand switching at this stage 



Therefore increasing even more its mobile presence and using influencers to encourage potential holidaymakers to be part of the luxury adventure Antarctica movement Sixth Stage Post Stagnation At the final stage repositioning of the luxury adventure Antarctica is critical TCS must choose a robust strategy to increase demand since companies in the luxury travel industry are very competitive TCS must reinvent the luxury adventure Antarctica expedition and introduce new ad vantages connected to the loyalty programme introduced in the fifth stage allowing the clientele to earn more points based on their spending at TCS They can then spend those at for example all the specialist travel brands affiliated of Travelopia The objective of the programme is to increase or maintain the expedition s appeal Another approach is extending existing expedition by adding new activities for example benefiting from untapped hot springs and wildlife whales and seals in Antarctica that until now were not given attention 5 2 The main competitive advantage strategies and justification The main competitive advantage approaches are cost leadership differentiation and focus strategy


The most appropriate strategy for the expedition in the market place in the long run is differentiation focus narrow market segment TCS has a unique approach to customer service and continues to attract elite guests by providing unmatched end to end customer experience The interactions between the wealthy Chinese generation Y luxury adventure holiday makers and TCS throughout the duration of their relationship are very much controlled because the corporation is highly vertically integrated Furthermore the personal travel consultancy allows the clientele to have a tailor made travel experience Perhaps most important TCS employs the most passionate and experienced staff that understand the needs and expectations of the target group Therefore TCS is able to create a superb customer experience In addition TCS s ability to create and maintain a network of suppliers and partners supported by Travelopia and KKR enables the corporation to be more sustainable and profitable in the long term However by partnering with Chinese luxury travel specialists OTAs social media Chinese payment providers enable TCS to strengthen its position in the Chinese market In addition this network allows TCS to adapt journeys expeditions and materials to rejuvenate an existing journey or promote the next best journey flexibility 5 3 Sustainability strategy 



At the level of marketing strategy superiority in elements of the marketing mix and successful positioning of the expedition are the key to sustain TCS s competitive strategy in the long run Staff The staff of TCS possesses multi disciplinary competencies that enable the corporation to create tailor made holidays Therefore it is very important to continue developing the staff s competencies to build this long term competitive advantage The strategy will be maintained by sending staff to training quarterly in fields managing HNW clients managing marketing mix of luxury travel Online presence The strong online presence strategy including social media will deliver TCS thousands of WeChat and Weibo fans This will enable TCS to cultivate and improve communication Furthermore it will propel brand recognition and positioning This strategy is maintained by investing in integrated advertising TCS must combine Chinese media channels under one main strategy in order to create a greater business to business and business to customer experience B2B TCS s ability to create and a maintain network of suppliers and partners This strategy is maintained by promoting and maintaining an open door policy to cultivate and improve business supplier competitors relationship This will help TCS to get referrals in the long run 



Furthermore TCS must offer strategic alliances to other luxury travel specialists to pool resources together This will enable TCS to cater the attractive Chinese market 6 Conclusion The results of this report indicate that the global travel industry is growing Moreover adventure travel industry has great potential Furthermore the Chinese HNWI population is increasing therefore TCS must seize the opportunity to provide tailor-made travel journeys to this segment In addition wealthy Chinese generation Y holidaymakers travel to South and North pole for adventure travel This narrow target group first source of information is online therefore owning TCS s online presence partnering with established top Chinese luxury travel specialists and offline tools like trade shows is fundamental to spread the word educate and position TCS as the leader in the industry As the Senior Marketing Executive I am confident that the luxury adventure Antarctica expedition will be a great opportunity to help TCS achieve sustainable growth in China



Write and Proofread Your Essay
With Noplag Writing Assistance App

Plagiarism Checker

Spell Checker

Virtual Writing Assistant

Grammar Checker

Citation Assistance

Smart Online Editor

Start Writing Now

Start Writing like a PRO

Start