TRAVELORE MARKETING PLAN

MARKETING PLAN

EXECUTIVE SUMMARY

TACTICS

SITUATION ANALYSIS

STRATEGY

IMPLEMENTATION

GOAL

EXECUTIVE SUMMARY

TRAVELORE is a travel-app that serves as a complete guide for anyone who is exploring a new place.

It is aimed at making travel hassle-free&

Helping consumers when they’re actually ‘at their destination’

Today’s traveller is tech-savvy & well-researched with the expectation of real time service at fingertips.

Travellers across the globe crave active experiences that are customised to their interests.

TRAVELORE plans to cater to these needs by focusing on personalization

SITUATION ANALYSIS

COMPANY OVERVIEW Travelore has ideas

galore, for things to do in more than 500 cities around the world. It provides detailed descriptions of 'must-visit' places, local hotspots & adventurous locations for explorers covering everything from attractions & events to bars & restaurantsIt features maps, makes reservations & facilitates travel plans.

MARKET OVERVIEW CONTEXT

Travel & Tourism industry- Global economic contribution (direct, indirect, & induced) – 7.2 trillion US$ in 2015

Steady Growth- International tourist arrivals increased

from 528 million in 2005 to 1.13 billion in 2014

Expected to continue to outperform global economic growth ratePredicted growth rates of 4% annually , over the next 10 years

MARKET OVERVIEW CONTEXT

Increasingly more tech-friendly travellers seek out trip planning apps to help serve

as guides abroad

42% of travellers worldwide use smartphones to plan or book their trips

Each month, average user spent more than 2 hours a month using travel apps,

an increase of 40% over the course of last year

TARGET CUSTOMERS CONSUMER SEGMENTATIONDEMOGRAPHIC

I. Age- 18-50 yearsII.Gender-Both male &

femaleIII.Income-Middle,

Upper-Middle, Upper Class

PSYCHOGRAPHIC

I. Personality-Travelers looking for adventure and

different culturesII.Lifestyle- (i)Budget

travellers (ii) Families with

Children (iii)Retired

Vacationers

GOAL

• Grow user base –Acquire 100,000 ; 200,000; 500,000 active monthly users in the 1st, 2nd & 3rd fiscal years after launch

• Enhance engagement & strive to achieve a retention rate of 25% after 90 days

• Work towards 500 or more downloads a day, in the App Store Free market, within a week of release.

• Gradually increase the number of destinations covered; accommodations, restaurants & attractions listed in an even greater number of countries across the globe

STRATEGY

TARGET MARKET CONSUMER NEEDS

BUDGET BACKPACKERS- Budget travel

recommendations, assistance with well

reviewed places close-by &

navigation, discounts on bookings, engages

the relatively new traveller who doesn’t want to spend much

ADVENTURE SEEKERS- Suggestions on exotic

destinations to discover, booking

options for thrilling activities & events

serves their need for excitement.CULTURAL TRAVELLERS-

Updates about cultural festivals & heritage sites help fulfil their purpose

of visit.Acts like a customised travel guide that satisfies consumer needs of CONVENIENCE & CHOICE to improve travel experience

TARGET MARKET CLOSEST COMPETITOR

tripadvisor

FACTS & NUMBERS• TripAdvisor Users-390 million• Accommodations,

restaurants & attractions listed on TripAdvisor- 6.8 million• Destinations covered- 136,000• Reviews & opinions on

TripAdvisor- 435 million

• Considered the World’s most popular travel app

With 42% of the mobile traveller market • Follows real travellers, in real

scenarios, in the field to see what the needs and wants of users are

• Speed as a competitive differentiator

TARGET MARKET CLOSEST COMPETITORPOINTS OF PARITYTHINGS TO DODISCOVER NEARBY OPTIONSBROWSE & ADD REVIEWSCITY MAPSOFFLINE ACCESS

POINTS OF DIFFERENCESINSIGHTS INTO HISTORY,CULTURE OF LOCATIONSUPDATES ON UPCOMING EVENTSCURATED ITINERARIESEVENT RESERVATIONS, DISCOUNTS & VOUCHERSQUICK ROUTES & NAVIGATION

VALUE PROPOSITIONCater to the needs of travellers

across the globe by providing all necessary information in one place.

Easy & quick access to customised travel plans suited to the travellers’ interests.

Provide an unobtrusive user interface to improve user’s experience of Travelore services.

CONSUMER VALUE

TACTICS

PRODUCT FREE FEATURES• EXPLORE ON TRAVELOREIntroduces travellers to the cultures and cuisines of the place of visit. Description & historical relevance of popular sites to visit or eat at. Provides curated downloadable itineraries, sightseeing suggestions and budget travel recommendations.

• WHAT’S UP?Finds concerts, festivals, one-off happenings & upcoming events in the city of visit. Book tickets for the same & make reservations for restaurants.

• NEARBYIdentifies the nearest bank, hospital, gas station, movie theatre, supermarket, restaurant, bar & the distance from current location.

PRODUCT FREE FEATURES• GET AROUNDFeatures maps, finds public transport routes, Subways, bus & train times for a number of cities.• VIEW AND ADD REVIEWSConsumers can peruse reviews, opinions, videos, photos pertaining to restaurants, hotels, eateries & also add their own reviews.

• TRAVEL TIMELINEHelps travellers conveniently log and share experiences from their trips• OFFLINE ACCESSStores the data offline so that users can access important information any time they want

PRODUCT PREMIUM FEATURES

Discounts upto 20% for individual travellers & upto 30% for group travellers on total bill amount of event bookings, restaurant reservations through TRAVELORE.

Gain points for each reservation and win vouchers for eateries for every 25 points.

Ask specific travel questions and get personalised responses on forums.

PRICEPremium version requires a monthly subscription charging US$ 5 per month

Price has been optimised considering the market competition from similar travel appsAndServices offered under this version

COMMUNICATIONAPP WEBSITE-Provides important information that users can access to know what the app offers

BLOG- Write a blog post solely about the app that narrates the app's story. By including app links, screenshots & videos to let the audience know the purpose behind it & how the app facilitates things for them.

SOCIAL NETWORKS-(i) Facebook- Create a Facebook page that introduces users to my app. Create a group for travellers & explorers to share interests, also post updates & interesting facts about my app. (ii) Pinterest & Scoop.it- Share the app on these networks so that it becomes available on a large number of boards across the network's ecosystem. (iii)Google+,Linkedin

CREATE DEMO VIDEO-Include the demo video in Instagram & YouTube channels

ONLINE FORUMS

DISTRIBUTION

WEBSITE CHANNEL-Showcase the app on my website where a link redirects the consumers to the app stores in which my app is available.

IMPLEMENTATION

ORGANISATIONAL STRUCTURE OF BUSINESS UNITS

CEO

Chief Financial Head of Marketing Chief Technical Global Head of Head of Business Chief Product Officer Officer Communications Development Officer

Financing Marketing Sales Technical Communication Content & Consulting Design & Team Team Team Team Team Development Team

BUSINESS PROCESSConduct market research & analyse consumer markets

Define Travelore’s mission-Identify core competencies

Identify market segments & targets. Craft brand positioning Setup strategic business units

Develop product & pricing strategies

Design & manage integrated marketing communications mix

SCHEDULE

App testing & official launch

Consumer feedbacks

&Updated versions

Build networks& receive payments through

advertisements &

listings

Maintain consumer

engagement & ensure

retentionRemain

relevant by evolving with

consumer needs & wants

Expand offerings to reach wider audience in

more number of countries

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THANK YOUThis presentation was created by Anjali Verma, Ramjas College, University of Delhi during a marketing internship by Professor Sameer Mathur, IIM Lucknow