Epic Exploration Travel Agency Marketing Plan

Introduction

Epic Exploration Travel Agency is a travel company that specializes in offering the best travel packages for adventurers seeking epic exploration. The company also offers unparalleled experiences that ignite the spirit of discovery and challenge conventional boundaries, thus creating a competitive advantage. The company acknowledges that standing out requires a distinct positioning that attracts potential customers and resonates deeply with their desires and aspirations. Therefore, its main focus is on positioning the travel agency as the ultimate destination for epic exploration to tap into the primal human desire for discovery, adventure, and pushing one’s limits. This positioning sets the company apart from traditional travel agencies that may focus solely on leisure or luxury, instead positioning it as a pioneer in the realm of exploration and adventure. Furthermore, the emphasis on igniting the spirit of discovery speaks to the emotional connection that enables the company to connect with its audience. The company also appeals to travelers who seek more than just sightseeing by positioning itself as a facilitator of profound experiences because this group of travelers craves a deeper, more meaningful connection with the world around them. The company additionally challenges conventional boundaries to signal to its audience that the limitations of typical travel experiences do not bind it. The company also promises to push the boundaries of what is possible, creating unforgettable journeys that defy expectations and leave a lasting impact on its travelers. This report provides a marketing plan Epic Exploration Travel Agency can use to increase its competitive advantage.

Company Analysis

SWOT Analysis

Strengths

1. Unique Positioning

The agency’s positioning as a provider of epic exploration experiences is a significant strength. It sets it apart from traditional travel agencies and appeals to adventurers seeking unconventional and transformative journeys.

1. Expertise and Knowledge

Epic Exploration Travel Agency boasts a team of experienced travel professionals with extensive knowledge of remote and exotic destinations. This expertise allows the agency to curate authentic and immersive experiences for its clients.

• Partnerships and Networks

The agency has established strong partnerships with local guides, accommodations, and activity providers in various destinations. These networks enable them to offer exclusive experiences and ensure the safety and satisfaction of their clients.

1. Customer Loyalty

Strong client loyalty has been cultivated by providing exceptional customer service and tailored attention. Positive word-of-mouth referrals and repeat business are major factors in the agency’s success.

1. Technology Integration

The agency leverages technology effectively to streamline booking processes, provide real-time updates to travelers, and offer virtual previews of destinations and activities, enhancing the overall customer experience.

Weakness

1. Limited Geographic Reach

Despite offering unique experiences, the agency’s reach may be limited to certain geographic regions due to the nature of exploration travel. This limitation could hinder growth opportunities in markets outside of these regions.

1. High Costs

Epic exploration experiences often come with higher price tags compared to mainstream travel offerings. This could pose a barrier to entry for budget-conscious travelers and limit the agency’s target demographic to a niche market segment.

• Seasonal Demand

Exploration travel may be subject to seasonal variations and weather conditions, leading to fluctuations in demand throughout the year. Managing seasonality and optimizing capacity utilization can be challenging for the agency.

1. Risk Management

Adventure travel inherently involves certain risks, including health and safety concerns, natural disasters, and geopolitical instability. Ensuring the safety and security of travelers while maintaining the spirit of adventure requires robust risk management protocols.

1. Competition

While the agency’s positioning is unique, it faces competition from other adventure travel companies, as well as traditional tour operators diversifying into experiential travel. Staying ahead of competitors and continuously innovating is essential to maintain market leadership.

Opportunities

1. Market Expansion

There is a growing trend towards experiential and adventure travel among consumers seeking authentic and memorable experiences. Expanding into new markets and demographics could capitalize on this trend and fuel growth for the agency.

1. Product Diversification

The agency can explore opportunities to diversify its product offerings, such as themed expeditions, multi-destination tours, and customized itineraries catering to specific interests or demographics.

• Digital Marketing

Investing in targeted digital marketing initiatives can help the agency reach a wider audience and increase brand awareness. Using content marketing strategies can help attract new customers can boost bookings.

1. Sustainable Tourism

With increasing awareness of environmental and social issues, there is a growing demand for sustainable and responsible travel options. Positioning the agency as a leader in sustainable exploration travel can attract environmentally conscious travelers and enhance brand reputation.

1. Partnership Opportunities

Collaborating with like-minded brands, influencers, and organizations can open up new opportunities for cross-promotion, co-branding, and joint initiatives, expanding the agency’s reach and attracting new clientele.

Threats

1. Global Events and Crises

The travel industry is vulnerable to global events and crises such as pandemics, natural disasters, terrorism, and political instability. These events can disrupt travel plans, deter tourists, and impact the agency’s revenue and operations.

1. Economic Uncertainty

Economic downturns, currency fluctuations, and inflation can affect consumer spending on discretionary items like travel. A prolonged economic downturn could lead to reduced demand for exploration travel and discretionary cutbacks in travel budgets.

• Regulatory Changes

Changes in government regulations, visa requirements, and travel restrictions can impact the accessibility and attractiveness of certain destinations. Keeping abreast of regulatory changes and adapting strategies accordingly is essential to mitigate risks.

1. Technological Disruption

Rapid advancements in technology, such as virtual reality, artificial intelligence, and blockchain, have the potential to disrupt traditional travel models and distribution channels. Embracing innovation and leveraging technology to enhance the customer experience can mitigate this threat.

Brand Analysis

Product

Epic Exploration Travel Agency provides travel services across the United States. The company operates under the brand name Epic Exploration. The company’s product line includes hotel bookings, sightseeing, car rental and transfers, guided expeditions to remote destinations, specialized adventure tours, and tailor-made itineraries catering to the needs and preferences of individual travelers. The products are customized based on the customer’s needs to increase customer satisfaction. The company also recommends places that customers can visit through its travel consultation services. The recommendations are based on the customer’s specifications and their travel needs.

The company also engages its customers through social media platforms to identify places that people may be interested in visiting and get ideas on the travel programs that can be used to increase revenue and attract more customers. The agency’s emphasis on epic exploration sets it apart from traditional travel agencies, appealing to adventure seekers and those looking for transformative travel experiences. One potential problem with the current product offering is its niche appeal. While targeting adventure travelers can be lucrative, it may limit the agency’s market reach and growth potential. Additionally, there could be challenges in ensuring the safety and security of travelers in remote and potentially hazardous locations.

Price

Epic Exploration Travel Agency’s pricing strategy reflects the premium nature of its products and services. Given the specialized nature of adventure travel and the costs associated with organizing expeditions to remote locations, the agency charges higher prices compared to mainstream tour operators. This pricing strategy aligns with the perceived value of Epic Exploration experiences and enables the agency to maintain profitability while delivering exceptional service. A potential problem with the current pricing strategy is the risk of pricing out certain segments of the market, particularly budget-conscious travelers. High prices may deter potential customers who are unwilling or unable to pay premium rates for adventure travel experiences.

Additionally, fluctuations in operating costs or economic conditions could impact the affordability of the agency’s offerings. However, the premium pricing strategy reflects the exclusivity and quality of the agency’s products, reinforcing its positioning as a provider of luxury adventure travel experiences. Higher prices also contribute to higher profit margins, allowing the agency to invest in maintaining high service standards, including safety protocols, expert guides, and comfortable accommodations. Moreover, premium pricing can enhance the perceived value of the agency’s offerings, attracting affluent travelers who prioritize quality and authenticity.

Place

Epic Exploration Travel Agency operates primarily through online channels, including its website, social media platforms, and third-party travel booking websites. Customers can browse through the agency’s offerings, access detailed itineraries and pricing information, and make bookings directly through the website or by contacting the agency’s customer service team. Additionally, the agency may partner with travel agents and tour operators to reach a wider audience and facilitate bookings. One potential problem with the current distribution strategy is the reliance on online channels, which may limit the agency’s ability to reach certain demographic segments, such as older travelers who prefer offline booking methods.

Moreover, inadequate visibility or presence on popular travel booking platforms could hinder the agency’s ability to attract new customers and compete effectively with established players in the industry. However, operating primarily through online channels offers several advantages, including lower overhead costs, broader reach, and greater convenience for customers. Online booking platforms provide real-time availability and instant confirmation, enhancing the customer booking experience and streamlining the reservation process.

Industry

Epic Exploration Travel Agency operates within the tourism industry. According to Premkanna (2016), the tourism industry includes international and domestic activities that people undertake for social, business, or leisure. The main categories within the tourism industry include food and drink services, accommodation, entertainment, and transport. Epic Exploration Travel Agency faces competition from key competitors within the industry, such as Direct Travel, Expedia, Booking Holdings, and Travel Leaders Group. According to Jesse (2020), the competitors have a large market share and have established a strong brand name in the tourism industry, leading to a high competitive advantage over companies such as Epic Exploration Travel Agency. Figure 1 below indicates the key competitors’ market share. Epic Exploration Travel Agency also faces competition from local hotels and travel companies providing similar services. However, the company has managed to maintain a competitive advantage by providing quality services to its customers and providing a wide range of products.

Figure 1

Top Travel Companies in the World by Sales

Note. From “Top 10 Travel Companies in the World By Sales in 2020 | Travel Industry,” by Jesse, 2020, Bizvibe Blog. https://blog.bizvibe.com/blog/top-travel-companies

Figure 1 above indicates that Booking Holdings has the largest market share, followed by Expedia. The two companies play a significant role in the growth of Epic Exploration Travel Agency’s market share since the company competes for customers with the two companies. Epic Exploration Travel Agency also competes for customers with local hotels and online travel agencies that dominate the global travel and tourism industry.

Target Market

A company’s target market can be classified based on the customers’ demographics, location, and psychological attributes. Epic Exploration Travel Agency’s target market includes customers of various ages. However, the primary target customers are young people between 28 and 35 years old. The company provides services that meet the needs of this group of customers based on recommendations on social media platforms and the information shared by the customers concerning their ideal travel destination. The company also targets people who love adventure and exploring different locations. This group of customers is targeted through various travel programs, including camping and hiking travel programs. The company also offers services that appeal to people who love traveling in groups and making social connections through travel. The company also targets customers from different places across the United States. Target customers in different geographical locations across the United States are reached through the company’s social media platforms and website.

POP Analysis

Epic Exploration Travel Agency has focused on various points of parity and points of difference to create a competitive advantage over major competitors such as Expedia Group. One of the points of parity is the wide range of services. Epic Exploration Travel Agency provides a wide range of travel-related services, thus giving customers a variety of choices based on their budget. The second point of parity is a good selection of travel vehicles, including fuel-efficient vehicles. The company also offers electric cars that customers can recharge and use to travel across the United States. The company also provides unlimited miles for cars in the car rental category to reduce unexpected charges for customers renting the vehicles.

POD Analysis

Epic Exploration Travel Agency uses various points of difference to increase its competitiveness. One of the points of difference is using a reward program to reward loyal customers. The reward program includes accumulating points that can be renewed to pay for the company’s services. The company has also introduced a referral program that includes rewarding customers who refer other customers with a discount when they purchase the company’s services. Another point of difference is offering a discount for customers who subscribe to get the company’s marketing content through email. The discount is applied to all services the customer purchases from the company.

Rationale for Marketing Concept, Total Market Segmentation, and Target Marketing

Epic Exploration Travel Agency’s marketing concept focuses on communicating the value of the services offered to customers to existing and potential customers. The brand uses various channels, including social media platforms, to market its products. The brand also uses total market segmentation to expand its market share by offering services that meet the needs of customers across different ages and locations. Total market segmentation also helps the brand enhance its brand awareness through word-of-mouth marketing among customers in different segments. Epic Exploration Travel Agency has also embraced the use of target marketing to market specific services to customers in different segments. This increases brand awareness, which increases market share, which increases market share.

Marketing Mix Recommendations for Implementation during the Next Year

1.      Strategic Alliance

Small and new brands can use strategic alliances to grow their brand by increasing their customer base and brand awareness. Essentially, strategic alliances include joint ventures, direct investment, mergers, exporting, franchising, and foreign cooperation (Al-Gharrawi, 2018). Epic Exploration Travel Agency can implement mergers to add value and awareness to the brand. Mergers will enable the company to cobrand with other brands in the travel and tourism industry and benefit from their customer base, leading to increased brand awareness. Mergers will also enable the company to combine its strengths with another brand’s strengths and leverage the opportunities available to multiple brands, leading to high brand value.

For instance, the company can cobrand with another travel agency offering its services within and outside the United States to expand its market share to global markets and increase its revenue and profitability. This program can serve customers who seek epic exploration in different parts of the world because it would enable them to discover different travel destinations outside the United States. The company can also cobrand with travel agencies to increase customer reach and add brand value by ensuring that customers get the best travel packages, leading to increased customer satisfaction and attracting more customers. This program will serve customers who seek convenience when looking for travel and adventure trips because the company can organize transportation on their behalf by collaborating with travel agencies.

2.      Loyalty Programs to Grow Repeat Business

Loyalty programs play a significant role in increasing customer loyalty, leading to repeat business growth. Notably, loyalty programs can decrease price sensitivity, increase brand loyalty, and enhance customer resistance to counter offers provided by competing brands (Yapa & Kennedy, 2020). Epic Exploration Travel Agency has established strong customer loyalty by offering tailored attention and exceptional customer service. The company can leverage customer loyalty to grow repeat business by rewarding the repeat customers. For instance, the company can offer discounts to repeat customers to encourage them to continue purchasing its services. This program serves customers seeking new places to visit and a new adventure experience. The company can use its social media platforms to inform customers about the discount program and send personalized emails to loyal customers to inform them about the discounts and how they can be applied in upcoming travel events.

Epic Exploration Travel Agency’s loyalty program can also include one free trip per year for customers who use the company’s services for a specific number of trips. For instance, the company can offer a free trip for customers who use its services to travel to at least five destinations to motivate them to continue using it. The destination of the free trip can be determined based on the amount of money paid for the five trips and the customers’ interests. Accordingly, this program serves customers who want to travel to many destinations on a budget because they can choose an extra travel destination that may not be within their budget since the company will cover the trip’s costs.

3.      Using Social Media to Reach the Connected Generation

Social media offers a platform that brands can use to communicate with their target customers for increased brand awareness. One of the approaches that companies use to appeal to the target customers is storytelling. Storytelling can be used to raise awareness about a brand, increase trust in a brand, and demonstrate its unique features (Lundqvist et al., 2012). Epic Exploration Travel Agency can use its social media platforms to reach a connected generation by posting stories narrated by customers who have used the company’s services before. The company can post different stories to help target customers understand what the brand offers from different perspectives. For example, it can post stories narrated by young, middle-aged, and older people because the three groups of target customers have different needs and preferences. Therefore, they can offer different opinions about the company’s services.

The company can accompany the stories with pictures and videos of different travel destinations mentioned in the stories to appeal to customers seeking adventure. Storytelling serves customers who seek the opinion of other customers when making a purchase decision and customers who seek evidence to confirm whether what a company or brand has advertised is what it offers. The program also serves customers who rely on other customers’ experiences to determine whether a travel destination and the company offering travel and tour services to the destination meet their needs and preferences before making the purchase decision. Therefore, Epic Exploration Travel Agency must ensure that the stories are true and verifiable and focus on the company’s unique services to attract more customers.

Plan for Measuring the Marketing Program after It Has Been in the Market

Assessing the effectiveness of a marketing program is important because it makes a company save resources that could have been wasted by implementing ineffective marketing strategies. Assessing the effectiveness of a marketing program can also help a company identify areas for improvement in the current marketing strategies and ensure that the implemented marketing program enables the company to meet its marketing goals. Epic Exploration Travel Agency will use key performance indicators to measure the marketing program’s effectiveness after it has been in the market.

According to van de Ven et al. (2023), key performance indicators include the elements that capture the most vital performance aspects of an organization’s future and current success. The main advantage of using key performance indicators is their effectiveness in providing reliable information to determine the basis for implementing an organization’s growth strategies, enabling an organization to determine whether the current strategic plan is working to achieve the desired goal and improving operational profitability, productivity, and efficiency. Epic Exploration Travel Agency will measure the marketing program using the following Key Performance Indicators;

1.      Return on Marketing Investment

Companies invest financial resources to create effective marketing campaigns and distribute them across multiple channels to reach potential customers. Return on marketing investment includes the revenue generated from a marketing campaign compared to the cost incurred running the campaign. Epic Exploration Travel Agency will use the return on marketing investment to measure the marketing program’s success after implementation.

A high return on a marketing campaign will indicate that the marketing program is successful. The marketing campaign will compare the cost incurred in the social media marketing campaign and the customer loyalty program to measure the return on a marketing campaign and determine whether the company should continue using the marketing program as it is or whether there is a need for adjustments to increase the return on marketing investment.

2.      Lead Generation

Lead generation includes the marketing program’s ability to generate sales. Epic Exploration Travel Agency will analyze the increase in sales after implementing the marketing program. The company will use different leads, such as sales- and marketing-qualified leads. A sales-qualified lead is assessed by assigning values to specific content behaviors or collaterals, such as the intention to buy based on the information the customer shares when inquiring about a product after seeing an advertisement or other marketing content, such as customer testimonials. A marketing-qualified lead is, on the other hand, assessed by determining who is most likely to be a customer based on inbound inquiries, website visits, and content downloads.

3.      Reviews

Customer reviews include the feedback shared by customers on marketing content. The reviews may consist of comments about the quality of the marketing content and its usability in understanding the company’s products and services. Customers may criticize marketing content such as customer testimonials and social media posts because they may exchange information about what they think about the marketing content, especially when the advertisement is unclear. Competing brands may also post reviews about a company’s marketing content to discourage customers from purchasing the advertised product or service. Therefore, Epic Exploration Travel Agency should analyze the reviews on its marketing content to determine whether it meets marketing goals. Positive reviews will indicate that the marketing program is effective.

4.      Total Website Traffic

Website traffic includes the customers who visit the website to view products and services and find information about a company’s operations. Website traffic can be used to assess the effectiveness of a marketing program based on the number of customers who visit the website after a marketing program is initiated. Therefore, Epic Exploration Travel Agency will record the number of new visits weekly to determine whether the marketing program appeals to customers. An increase in website visits will indicate that the marketing program has enabled the company to catch the attention of potential customers, leading to the conclusion that it is effective.

5.      Customer Acquisition Rate

Customer acquisition is important for the growth of a small company. Epic Exploration Travel Agency can increase its customer acquisition rate through marketing, leading to an increased competitive advantage. Therefore, it is important to determine whether the marketing program increases the company’s customer acquisition rate. Customer acquisition rate includes the rate at which new customers purchase a company’s products and services. Epic Exploration Travel Agency can analyze its sales records to identify the new customers that have purchased the company’s services since the marketing program was introduced. An increase in new customers will indicate that the marketing program is effective in increasing the company’s market share.

6.      Customer Lifetime Value

Customer lifetime value includes the total net profit that an organization or company anticipates to make from a customer throughout the time they interact with the customer. The main factors considered in evaluating customer lifetime value include the average duration of the customer’s relationship with the company, repeat purchases and initial purchases. Epic Exploration Travel Agency will use customer lifetime value to determine whether the marketing program is effective by determining whether there has been an increase in repeat purchases since the program was implemented and evaluating the initial purchases made by new customers. An increase in repeat purchases will indicate that the marketing program is effective. High-cost initial purchases from new customers will also indicate that the marketing program is effective in winning the trust of new customers.

The key performance indicators above will be used for the next year to ensure the company meets its marketing goals. The information gathered about the marketing program’s effectiveness after analyzing the key performance indicators will be used to improve the marketing program to enable the company to increase its customer base and maintain high customer loyalty and retention.

Summary

Marketing plays a vital role in the success of a brand by increasing its customer base and customer loyalty. The proposed marketing plan for Epic Exploration Travel Agency will focus on enabling the company to leverage its strengths to increase its market share and competitive advantage in the highly competitive travel and tourism industry. The marketing plan will also be applied to help the company leverage opportunities within the industry, such as marketing expansion and digital marketing. The marketing plan will also be used to gain a competitive advantage over top travel companies such as Expedia Group, Booking Holdings, American Express Global, BCD Travel, and CWT. The main elements of the marketing plan will include strategic alliances, loyalty programs, and social media marketing. The program will be implemented for the next year to meet the organization’s marketing goals and increase organizational growth and success. Various adjustments will be made within the two years based on the results of the marketing program assessment. The assessment will rely on key performance indicators such as return on marketing investment, lead generation, reviews, total website traffic, customer acquisition rate, and customer lifetime value.

References

Al-Gharrawi, A. (2018). Strategic alliances Azhar. Journal of Business & Financial Affairs, 7(1). https://doi.org/10.4172/2167-0234.1000319

Jesse. (2020, April 22). Top 10 travel companies in the world by sales in 2020 | Travel Industry. Bizvibe Blog. https://blog.bizvibe.com/blog/top-travel-companies

Lundqvist, A., Liljander, V., Gummerus, J., & van Riel, A. (2012). The impact of storytelling on the consumer brand experience: The case of a firm-originated story. Journal of Brand Management, 20(4), 283–297. https://doi.org/10.1057/bm.2012.15

Premkanna, P. (2016). Impacts of several factors in the tourism industry. Corporate Social Responsibility in the Hospitality and Tourism Industry, 239–246. https://doi.org/10.4018/978-1-4666-9902-1.ch018

van de Ven, M., Lara Machado, P., Athanasopoulou, A., Aysolmaz, B., & Turetken, O. (2023). Key performance indicators for business models: A systematic review and catalog. Information Systems and E-Business Management, 21(3), 753–794. https://doi.org/10.1007/s10257-023-00650-2

Yapa, Y. M., & Kennedy, F. B. (2020). Impact of loyalty programmes on brand loyalty (With special reference to Dialog Axiata and Mobitel Company in Badulla District). The Journal of Business Studies, 4(2). https://www.researchgate.net/publication/348137317_Impact_of_loyalty_programmes_on_brand_loyalty_With_special_reference_to_Dialog_Axiata_and_Mobitel_Company_in_Badulla_District

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Make at least four marketing mix recommendations for implementation during the next year. Include a rationale for the recommendations, as well as operational details.

Develop a plan for measuring the marketing program after it has been in the market.

Review your instructor’s and classmates’ feedback on the Unit 1 discussion about your brand’s mantra; your Overview and POP/POD Analysis; and your Target Markets, SWOT, and Current Marketing Mix. Revise as necessary, and compile all your work into a cohesive plan.

Format your final marketing plan. The final document should be 15–20 pages long and adhere to the following requirements:

Include a cover page, table of contents, section headings, executive summary, and APA-formatted reference list.
The double-spaced written portion of your document must have a minimum of 3,000 words. It may be formatted in short paragraphs and bulleted lists, and it should be supplemented with extensive use of graphics and images.
my business is epic exploration a travel agency