Evaluation of the Adventure Excursions Unlimited Marketing Plan

Evaluation of the Adventure Excursions Unlimited Marketing Plan
Name:
Institutional Affiliation:
Date:
Evaluation of the Adventure Excursions Unlimited Marketing Plan
Executive Summary
Adventure Excursions Unlimited (AEU) is a service company operating the industry of travel and tourism in the United States. The business was founded in 2001 by Loren Harlo Jullyn Certo, and Jordan Stephan and offers travel/sport packages, gourmet food, and upscale accommodations. Some of the adventure services provided by the firm include mountain biking, white water rafting, kayaking, and helicopter-skiing. The target customers for the AEU mainly include the wealthy clients and celebrities earning a minimum income of 75,000 dollars (Mplans, 2019). Most of these consumers are found in urban areas, especially cities within the country. AEU seeks to capitalize on existing opportunities in the tourism market. Few enterprises are offering hard adventure tour services to high-end consumers. Moreover, as the adventure travel market experience annual growth of 10 per cent, the overall tourism industry grows by 4 per cent every year (Mplans, 2019). The increasing demand for travel services which has seen the rapid growth of the industry has encouraged more ventures from investors leading to fierce competition. However, AEU's service is differentiated since the company targets an unexploited niche. The company offers luxury services to individuals with more disposable income.
Situation Analysis
The continued success of AEU will greatly depend on its marketing strategy. In this respect, the company needs to understand the various features of the travel industry and develop a detailed marketing plan. Firstly, the company needs to access good information regarding the common attributes of its target customers who are classified into two categories – high-income health-conscious individual and young, active “trustafarians.” While the population of the former has grown by 12% between 2001 and 2005 from 1,300,000 to 2,045,575, the latter has experienced a growth of 5% (Mplans, 2019).
Market Summary
While most of the businesses that offer "hard" adventure travel services target lower-income customers, those that appeal to high-income consumers mostly offer "soft" adventure packages. AEU focuses on wealthier clientele with its broad range of hard adventure activities and trips. More importantly, AEU factors the element of accessibility in its plan by targeting customers located anywhere in the country accessible to an airport. Additionally, the firm intends to give personal attention to its clients and offer high valued services at competitive prices.
Drawing from the market trends, it is evident that there a lot of prospects in the travel industry which AEU can capitalize on its growth. The growth of the industry has been largely attributed to the devaluation of other regions' currency making travel cheaper for Americans. Also, the healthy domestic economy has provided a conducive environment for tourism consumption. In 1999, the industry generated over 7 billion dollars. About 50% of the total adult travelling population in the U.S report to have consumed travel services in their lifetime. About 25 million people have ...