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Essay / Research Paper Abstract
This 6 page paper looks at marketing issues for a ferry company in the British Virgin Islands. The paper starts by considering how marketing principles and market research can help the firm, the use of planning techniques to add value to the plans and how a plan can be developed and monitored. The bibliography cites 4 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEferrym.rtf
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Unformatted sample text from the term paper:
needs and expectation of customers who purchase the goods or services. This is true regardless of the product or service the sale of clothes to ferry services in the BVI
and USVI. To undertake marketing, where the product is already in existence, the first stage should be that of marketing research, this is to allow the company to gather
data to determine who the customers are, for example, who are the passengers such as commuters and local residents or are they tourists, or is there a mixture, and what
channels do the different passengers purchase the tickets and how to they make that decision. In addition to understanding who the customers are the ferry company also need to know
what they want, in the case of the ferry this will include what is expected in terms of the booking and journey experience, the timetables that are needed and aspects
that will help to increase loyalty. When this data is gathered it is possible to apply the concepts of marketing, such as
determining positioning and applying the 4 Ps model. Kotler (2003) describes positioning as "the act of designing the companys offering and image so that they occupy a meaningful and distinct
competitive position in the target consumers mind". This is important to note that it is the perception of the target market that matters, as they are the consumers likely to
make the purchase, and it is also important that there is a meaningful position in the minds of the consumer. When a company is determining positioning for its products or
services it need to look at the strengths and resources, either those it already has, or in some cases those it can easily obtain. The fewer resources the company has
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