30 Strategic marketing plan 31 Company overview TUI Group is one of the largest

30 strategic marketing plan 31 company overview tui

This preview shows page 9 - 12 out of 20 pages.

3.0 Strategic marketing plan 3.1 Company overview TUI Group is one of the largest company in the travel industry with diversified range of services, which include hotel, tourism, and cruise to airways. The company has been established more than 40 years ago and still today gives intense competition to the relatively newer entries in the market with greater technological features. With appropriate implementation of diversification strategies to strategic marketing plans, the organisation demonstrated rich heritage of efficient management of all domains of the business (Tuigroup, 2020).
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Page 10 of 20 3.2 SWOT Analysis of TUI Retail Gürel and Tat (2017) highlighted that in order to design effective marketing plan for a company it is essential to understand the strengths and shortfalls of the company and further recognise the opportunities for market expansion and the dangers to take appropriate remedial action timely. Thus the SWOT analysis of the company is tabulated below: Strength Excellent team management within the organisation. High Brand equity and well-reputed image of the company. Great financial support. Strong portfolio of the company. Greater levels of customer satisfaction, hence huge base of loyal clients (Tuigroup, 2020). Weakness Due to intensely diversified portfolio, it becomes difficult to integrate all the domains. Too much dependency on technological implementation (Tuigroup, 2020). Opportunity Can initiate ecotourism, Geotourism, medical tourism, which are trending. Should introduce low cost airplanes. Threat Fluctuating economic conditions. Exchange rate variations. New entrants with low aviation cost. Table 1: SWOT assessment of TUI retailers 3.3 Macro-environment analysis: PESTLE Yüksel (2012) opined that PESTLE analysis is the tool used by the companies to assess the macro factors that have significant impact on the business operations. The assessment offers profound insight of the market environment, thereby enabling the firm to exploit the probable scopes effectively. Henceforth, for designing effective marketing plan for TUI retailers, PESTLE evaluation of the UK is conducted and discussed below:
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Page 11 of 20 Politically the nation is strong however, Santandertrade (2020) debated that owing to Brexit issue, and the country is going through turmoil, which is not good for TUI retailers. The UK hold 5 th position in the world for its economic development, nonetheless, Brexit situation have adversely affected the financial incomings of the nation. This situation may negatively impact the business activities of the brand. Socially, UK is known for its diverse cultural population composition that will positively influence the growth of the organisation. Further, Ismail (2018) revealed that the citizens of the country are technologically advanced, which will be leverage of TUI retailers as the brand is overtly dependent on the technological advancements. The administration of the UK is strict about the environmental enactments, thus it is essential for the brand to comply by the environmental regulations. The UK government ensures that the rights of
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