Planning is important in marketing so as to enable the optimal use of available resources in the achievement of marketing objectives. This marketing plan will enable our company to utilize the resources that we have so that our transport pass credit card will successfully penetrate the targeted Australian market. In order to attain this aim, this report will cover the current marketing situation, SWOT and issue analysis, objectives, marketing strategy, action programs, projected profit and loss statement and controls.
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Current marketing situation
Background data on product
The Australian market has never had transport services being paid via a credit card that has national coverage. It is important to review the history of transport payment in Australia so that we are able to get an overview of the strengths, opportunities and threats that exist in that market (Kotler & Armstrong 2009; Luther 2001). The public however have not experienced the conveniences brought about with the use of credit card services when it comes to transport. We therefore seek to open up this market and explore it fully before the entry of other competitors.
Our product will be a transport pass credit card. A transport pass credit card refers to a credit card that can be used by the public to access all forms of transport within Australia. Holders of this pass will be able to board trains, buses, ferries and planes within Australia. This is different from the norm because it does not involve the use of cash when commuters and transporters interact. The card will also have the normal features of a credit card.
The competition that our transport pass credit card will face includes providers of other credit cards such as Smartvisit Cards. These smart visit cards enable travelers to visit the top destinations in Australia after the payment of a single fee. Some of these cards include: See Sydney & Beyond Smartvisit Card, See Tasmania Smartvisit Card and See Melbourne & Beyond Smartvisit Card (Goway 2012). These offer transport services to many destinations that are found in these cities in Australia thereby providing conveniences to travelers. Our product will therefore face stiff competition from the providers of the Smartvisit Cards in Australia.
We are set to cover the whole of Australia with our services. Our objective is to provide Australian travelers with ease and convenience in their commuting activities. Thus, it will be required that our services be available in all regions of Australia. We will liaise with train, road, water and air transport operators so that our transport pass credit cards will be usable irrespective of the means of transport that holders want to use. This will make us the most preferred method of payment when it comes to transport operations.
The macro environment in our business will include technological, economic and social forces (Debelak 2000; McDonald 2008). Technology will affect our operations because the transport pass will require that operators have devices that will be used to swipe the cards in order to make payments. Economic factors will affect our operations since users will have to be able to afford the extra charges as opposed to when they use cash. Social factors affect consumer behavior and so we shall have to influence the public to adopt the use of plastic instead of cash money.
List of References
Debelak, D 2000, Streetwise marketing plan: winning strategies for every small business, Adams Media, Holbrook.
Goway 2012. Australia Transportation Passe, Web.
Kotler, P & Armstrong, G 2009, Principles of marketing, Prentice Hall, Upper Saddle River, N.J.
Luther, WM. 2001, The marketing plan : how to prepare and implement it, AMACOM, New York.
McDonald, M 2008, Malcolm McDonald on marketing planning: understanding marketing plans and strategy, Kogan Page, London.