Developing A Marketing Performance Review Strategy | Adventure Hire Ltd.

Company Overview

About the company 

Adventure Hire Ltd. mainly specialises in the providing car rental based services to the consumers. The company aims at providing vehicles to the tourists who wish to take road trips to different parts of the country. The report will be based on the marketing plan that can be developed based on the services that can be offered by Adventure Hire based on the usage of resources in an effective manner. The tourism based promotional campaign that has been designed by the Government of Western Australia is related to the operations of Adventure Hire Ltd. (Keegan & Rowley, 2017).

Summary of the services and products of Adventure Hire 

Adventure Hire Ltd. provides services related to car rental based activities. The organization provides a variety of cars from which the customers can choose and hire for the adventurous road trips that they wish to take. The car that is most suitable for the tourists will be offered to be based on affordable rates. The organization provides both economy and luxury car based services to the different types of customers. The policies that are followed by Adventure Hire Ltd. can also allow cross border based services to the tourists (Channon & Jalland, 2016).

Outline of the objectives of Adventure Hire 

The major objectives that are related to the effective operations of Adventure Hire Ltd. are based on the ways by which more tourists can be attracted towards the services that are offered by the company. The increase of profitability and revenues is considered to be the most important part of the aim that has been developed by Adventure Hire Ltd. The organization also aims at increasing the different regions in which the services can be offered to the tourists. The increase of regions where the services of Adventure Hire can be provided will help in the improvement of revenues and levels of profitability as well (David & David, 2016).

Risks and returns in the selection process 

The major risks that are related to the operations of Adventure Hire Ltd. are based on the hiring of cars by the overseas visitors who do not have adequate resources. The loss and levels of damage that can be done to the vehicles hired from the company is also considered to be a major risk to the operations of Adventure Hire. The public relations that have been developed by the company are also not effective for the development of a proper customer base. The remote areas of the country are also not covered quite easily with the help of services that have been offered by Adventure Hire Ltd (Hanson et al., 2016).

Objectives

SWOT analysis of Adventure Hire 

Strengths – The major strengths based on the operations of car rental based agencies are based on high levels of requirement of the car rental based services by tourists. The barriers that are present based on the entry on new organizations in the rental service providing agencies are also considered to be a major strength of Adventure Hire (Joseph et al., 2015).

Weaknesses – The high operation based costs that have are incurred by Adventure Hire Ltd. is a major weakness that is related to its effective operations. The visibility of retail based locations of the organization is also quite low and has an impact on the profitability of Adventure Hire Ltd. The large scale based operations of the organization are important for the ways by which Adventure Hire Ltd. can increase its profitability levels (Keegan & Rowley, 2017).

Opportunities – Adventure Hire has been provided with major levels of opportunities based on the increase in its operations in different other areas of the country. The regions in which the organization is already operating can be increased for the purpose of improving the customer base (Maile, Kizilbash & Miller, 2015).

Threats – The threats are based on the losses that can be incurred by the organization based on damages that can occur in the cars due to usage in different remote areas. The lack of proper resources is considered to be a major threat to the company (McDONALD, 2016).

GAP analysis 

The major gap that has been created in the effective operations of Adventure Hire Ltd. is based on the lack of proper resources based on the ways by which different activities can be performed based on adventurous trips. The information based systems that have been developed by the organization are also not effective in order to analyse the ways by which the customers can be analysed. The demands and needs of the consumers are considered to be important factors which can affect the revenues and profitability levels (Meyer, Neck & Meeks, 2017). 

Identification of strategies based on pricing, placement and promotions

Pricing – The prices of different services that are offered to the consumers by Adventure Hire Ltd. are based on the distance of their travel and types of cars that are offered to them. The difference in prices are mainly related to the economy level services and the luxury based services as well (Michael, Storey & Thomas, 2017).

SWOT Analysis – Strengths, Weaknesses, Opportunities, and Threats

Placement – Placement of the services are mainly related to the retail availability of the services that are offered by Adventure Hire Ltd. The organization has been able to reach the consumers with the help of different retail stores and the online availability as well. The online services which are offered by the organization are considered to be a major factor which has improved the distribution of services (Morschett, Schramm-Klein & Zentes, 2015).

Promotions – The promotional activities on the other hand are able to play a major role in the ways by which the services offered by Adventure Hire Ltd. can be improved. The organization conducts promotions of its products with the help of traditional methods related to banners and the digital methods as well (Michael, Storey & Thomas, 2017).

Description based on marketing mix, people, process and physical evidence 

People – The people of marketing mix mainly include, the employees of Adventure Hire Ltd. and the tourists who rent the cars for adventurous trips. The people are considered to be the most important stakeholders of the organization in the industry (Morschett, Schramm-Klein & Zentes, 2015).

Process – The process based factor related to the marketing mix of Adventure Hire Ltd. is based on the ways by which the services are offered by the company. The process starts from renting the car to completion of the entire trip (Maile, Kizilbash & Miller, 2015).

Identification of target market segmentation 

The major target market segment of Adventure Hire Company consists of people who wish to take long road based trips in different parts of the world. The segmentation of target market is considered to be a major factor that is able to affect the services that are being offered to the consumers of Adventure Hire Ltd. (Hanson et al., 2016).

Recommendations of the marketing strategies and alignment with strategic direction 

The marketing strategies that can be recommended to Adventure Hire Ltd. is based on the resources that can be offered to the overseas visitors. The survival kit that has been planned by the organization is an important factor which is able to affect the strategies that can be implemented by Adventure Hire Ltd. The diversification based strategy can be implemented by the organization in order to expand the regions in which it can provide the services.

Measurement of the performance of the organization

The marketing performance that has been depicted by Adventure Hire Ltd. is based on the conversion rates of 15% per year. The return on investment that has been provided by the operations of the company is around 85%.

Marketing Mix – 4 Ps

Tactical Plan 

Budget 

 Legal and Ethical Requirements 

The marketing campaign has been developed by adhering to the competition and consumer Act of 2010 to protect the rights of the consumers and the company regarding the marketing and advertising of the product (Daniels, 2017). The campaign has made sure not to use any misleading or false statements which means all the campaign statements are substantiated, accurate and true regarding the products and services (Gray & Thorpe, 2015). This also applies to the social media websites where it has been made sure that all the statements are valid and true. Moreover, effort has been made to review the comments made by the consumers so that none is misled.

Review and Performance evaluation 

The tactical plan has been developed keeping in mind the monitoring and evaluation of the tactics. The major stakeholders of the marketing plan review will consist of the quality supervisor, project manager, project board and marketing manager. These stakeholders will continuously evaluate the response of the consumers on social media website and enquiries made by the consumers (Atul & Mona, 2015). The project manager would also evaluate the booking and response of the consumers from the different road shows to examine their responses on the product requirement. A review document would be developed based on the change required. The project manager would make changes to the project based on the document.

Marketing plan 

The marketing plan describes all the tactics and strategies that are being implementing for promoting the survival kit. This consists of the time span for each of the activity and the persona accountable for the strategic implementation of the plan. The expected cost of each of the activity has been forecasted and any deviation to the cost has to be notified and approved. However, the campaign manager is responsible for identifying any delays in the work schedule so that appropriate changes to the cost, time and allocation can be made.

Marketing Scorecard

The marketing scorecard is a method of understanding the realisation of the goals and effectiveness of the marketing strategies implemented by any organization. The above marketing scorecard consists of each of the activities to be performed and the person responsible for the activity (Malik, 2015). This facilitates in understanding the current progress and performance of the goals of the marketing campaign. In this scenario, a weekly target for each of the assigned activities have been set. The values generated in every week would be evaluated with the baseline value to see the progress and effectiveness of the marketing plan. Suppose the result for week 1 for social media views is 500, then it is short by 500 which means that this specific area is struggling and supporting actions needs to be taken to reach the objective of the marketing plan. 

References 

Atul, P., & Mona, S. (2015). The conceptual foundations of relationship marketing: review and synthesis. ????????????? ??????????, 16(2).

Channon, D. F., & Jalland, M. (2016). Multinational strategic planning. Springer.

Daniels, J. (2017). Regulation of natural monopoly infrastructure in Australia: an empirical analysis of the effectiveness of part IIIA of the Competition and Consumer Act 2010 (Cth) (Doctoral dissertation).

David, F. R., & David, F. R. (2016). Strategic management: A competitive advantage approach, concepts and cases. Pearson.

Gray, E. A., & Thorpe, J. H. (2015). Comparative effectiveness research and big data: balancing potential with legal and ethical considerations. Journal of comparative effectiveness research, 4(1), 61-74.

Hanson, D., Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2016). Strategic management: Competitiveness and globalisation. Cengage AU.

Joseph, M., Joseph, B., Poon, S., & Brooksbank, R. (2015). Diagnosing the strategic planning process in Australian companies. In Proceedings of the 1999 academy of marketing science (AMS) annual conference (pp. 326-326). Springer, Cham.

Keegan, B. J., & Rowley, J. (2017). Evaluation and decision making in social media marketing. Management Decision, 55(1), 15-31.

Maile, C. A., Kizilbash, A. H., & Miller, G. (2015). Toward Promotion of the Marketing Planning Process. In Proceedings of the 1982 Academy of Marketing Science (AMS) Annual Conference (pp. 572-572). Springer, Cham.

Malik, K. (2015). The Balanced Scorecard and its Application to the Marketing Function.

McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.

Meyer, G. D., Neck, H. M., & Meeks, M. D. (2017). The entrepreneurship?strategic management interface. Strategic entrepreneurship: Creating a new mindset, 17-44.

Michael, S., Storey, D., & Thomas, H. (2017). Discovery and coordination in strategic management and entrepreneurship. Strategic entrepreneurship: Creating a new mindset, 45-65.

Morschett, D., Schramm-Klein, H., & Zentes, J. (2015). Strategic international management (pp. 978-3658078836). Springer.

Order an Essay Now & Get These Features For Free:

Turnitin Report

Formatting

Title Page

Citation

Outline

Place an Order