Product name: The Way of the Mountain: For Lovers of Nature
My goal is to give my clients the satisfaction they have been yearning for with an experience away from their daily routine. Whether they seek peace of mind or the thrill of adventure, my product focuses on meeting their needs with perfect trips to the mountains. The package includes picnic lunch, tour guide, waterfall experience, mountain trails and caves, hiking, bird watching, ziplining and canoeing.
I have vast knowledge of the sites and places that my clients will enjoy the various activities they intend to engage in. I am different from other travel planners in that I offer an interpersonal service to my clients and advise them based on their needs. I also have connections with local food joints, hotels, transportation firms and local professional tour guides in all the sites of operation.
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Price: $25 to $50 per person
The range price of my package is affordable and varies depending on the details of the plan. Different clients have diverse needs and therefore, they will choose varying number of activities from our list; this will determine the price I give to my clients. Solo travels may also slightly differ from group travels of the same number of activities and services. A full travel plan with all services in our list will cost $50 for solo travels and between $40 and $45 per person for group travels.
Evaluating value proposition
The formula; value equals personal benefit minus cost and inconvenience, is used to determine net value and formulation of my value proposition statement. My target clients are organizations for team building activities, individuals and couples looking for peaceful and thrilling experiences and families celebrating occasions or weekend getaways. Below I outline the personal benefits, costs and inconveniences I take in the value evaluation process:
Personal benefits
Attentive consultative sessions with visual presentations to my clients to determine their needs and provide detailed advice based on what experience they seek in their travel.
Reliable connection to credible essential service providers in the site areas that will eliminate the time spent to seek services like restaurants and transportation.
Experienced, professional and knowledgeable tour guides who will prioritize their safety throughout their travel. The tour guide fee is included in our price package and clients will not have to pay extra charges.
Discount services to groups, couples and for special occasions like birthday parties and festive holidays.
Costs
Prices for our package will be the main cost clients will have to incur; these are affordable and vary depending on the detail of the travel plan.
The package does not offer insurance for any injuries that may be sustained during the trip and it is upon the client to cover themselves for injuries.
I do not provide any camping and hiking gear for our clients; however, we offer advice on the best places to purchase or hire these gears in cases where the client trip requires them.
Inconveniences
Travel to our office location for the consultative session will be a small inconvenience the client will have to endure.
Measure of personal benefits
To measure the personal benefits outlined above from the customers’ point of view, I will use the following steps.
Determine the results and satisfaction of the benefits through feedback surveys.
Quantifying the results and satisfaction of the benefits for the users.
Comparing the results and satisfaction of the benefit with competitors.
Efficient processes to implement
In order to meet value profit for my product, I intend to implement efficient processes in marketing of my business. My goal will be to reduce cost and increase revenue. I will use specific efficient strategies in each of the four marketing features of promotion, product, price and place as outlined below respectively.
Integrated marketing communications
Camiller (2018) suggests that a combination of promotional tools to market a product is essential in the overall business strategy to create awareness for the business product. I intend to use this strategy by combining all my services in one marketing statement that is clear and concise. Through this strategy clients with different needs will pick the service they need from a simple but concise promotional message. This will also reduce on the cost of multiple promotions for different services.
Upsell products
Ni et al. (2015) observe that upselling as a practice is a growing strategy used by businesses to increase their revenue by persuading clients to purchase add-ons and more expensive products. I intend to upsell products like branded T-shirts and hats for teams and persuade them to purchase our full package. This will be essential to increase revenue to my firm.
Penetration pricing
My prices are relatively low compared with other competitors in the market. This will be an effective strategy in penetrating the already established market. The focus will be to get high volume sells for my product with aggressive promotion and the lucrative low prices.
Automation of services
An elaborate e-commerce framework will be adopted to automate services like booking and selling of products. This will improve efficiency in my distribution strategy that will complement physical location with online store. Smith (2018) notes that ecommerce platforms in the travel industry, will increase competitive advantage in sales and marketing of my products.
References
Camilleri, M. A. (2018). Travel marketing, tourism economics and the airline product: An introduction to theory and practice . springer.
Ni, J., Shen, Q., & Zhu, T. (2015). Upselling versus Upsetting Customers? A Model of Intrinsic and Extrinsic Incentives . Working paper, Johns Hopkins University.
Smith, A. (2018). Strategies for E-Commerce Adoption in a Travel Agency (Doctoral dissertation, Walden University).
