Changing Current Marketing Strategy for Cruise Line Essay -- business

STRATEGIES REJECTED Sea Goddess Cruises, Limited (SGC) is obviously not accomplishing what it needs to financially to obtain a fair share of the market. There are a number of current strategies that will be reconsidered and rejected. Segmentation The first of these strategies that will be rejected deals with segmentation. Sea Goddess Cruises has not adequately considered enough segments in the market, which has been a major contributor to the lack of market share. SGC should eliminate all plans for monosegmenting. As stated in earlier reports, the segment that SGC is trying to target (i.e. lawyers, doctors, CEOs, etc.) is not large enough to make consistent profit. SGC must look at some other segments to a greater variety of passengers, which may then lead to increased market share and revenue. We have found that the current segment is far too narrow and complex. SGC may want to try and market more to the upper-middle class or middle class portion of the population. In addition to this rejected strategy, it is important that SGC does not oversegment in their efforts to improve the company. Oversegmentation is extremely expensive and a majority of segments do not have the financial abilities it takes to enjoy a Sea Goddess cru ise. Also, the current facilities are very limited, considering SGC only employs to ships. Advertising A second strategy that has been rejected is one concerned with the consumer awareness of SGC. Currently, SGC is only advertising to travel agencies. Coupled with segmentation, SGC’s current advertising strategy has hurt SGC in the sense that consumer awareness is considerably low. Only a small portion of the population even knows that Sea Goddess exists. SGC is only targeting those who travel frequently. They may want to target the portion of the population that wants to travel, but is unsure of where to go or what to do. In order for SGC to reach the consumer, new efforts must be made in the advertising plan. Mere travel agency recommendations are not going to be enough to keep SGC alive in the marketplace. Other vehicles are going to be necessary to spread SGC’s message about the luxuries and benefits of this extraordinary cruise. At the present time, only a small number of all travel agencies have the sufficient knowledge that it takes to make an informative sell to the consumer. It may be profitable for SGC to employ some hi... ...lavishness of the cruise. The End of Autonomy Currently, Sea Goddess Cruises is alone in a business sense. They are not associated or affiliated with any larger cruise lines. It may be lucrative or profitable for Sea Goddess to lose this autonomy. SGC should attempt to merge with a larger company, such as Carnival. A larger company might want to â€Å"adopt† SGC as a smaller, â€Å"little sister† type of company. This could boost customer awareness greatly. For example, if a couple is looking to take an expensive, private cruise, they may look to Carnival. Carnival Cruise Lines or the travel agent may view Sea Goddess as more fitting for this couple. They could recommend to the couple they might be more suited for a Sea Goddess cruise. The relationship could be reciprocal, because Sea Goddess or a travel agent could, in return, refer a family of six to a Carnival cruise. They could also cooperate together in advertising schemes. As you can see, Sea Goddess needs to undergo some major changes. These changes could help lead to a more positive business image. The strategies that have been rejected in this report will help lead SGC to increased profits and customer awareness.