Summary and Business Activities
The ship had to start its work during economic decline when the United States dealt with the consequences of the 2008 financial crisis. Managers were aware of certain risks but initially received good feedback from customers. The clients were mainly US citizens, although the company wanted to reorient itself to the international market. Clients preferred routes to the Caribbean or the Bahamas, but Greece and Turkey were also famous. The price for a ticket for one person was about 1400-1500 dollars.
Managers and marketers had to decide which segments to develop and which group of customers to target. The average client was a person or family of spouses who were about 40 years old. Their income was about 90-100 thousand dollars a year, and they had one or two higher educations. These couples had children who, on average, were about 18 years old. Due to the size and extensive functionality of Oasis Cruise, managers could not decide and which specific requests to satisfy.
The main advantage of Oasis Cruise was the possibility of long-distance travel without changing hotels. It was significant for clients who wanted to relax and unwind rather than test their health and stamina while on vacation. Many of these clients received ship recommendations from colleagues, friends, or relatives. It means that the ship’s clients independently organize local advertising campaigns, and Oasis Cruise is not needed support at this level.
Analysis: Applying Marketing Theories
The main problems are the incomprehensibility and blurring of the target audience and the possible loss of customers in the future. The first problem is related to the fact that the Oasis Cruise team tries to please all customers with different price requests. The second problem is also related to the ship’s maintenance requiring serious investments, and it is not clear how they can pay off if the Oasis Cruise is delayed on the market as a budget option.
The Oasis Cruise team needs the support of SWOT theory, which will allow a sober assessment of opportunities and risks. Oasis Cruise can profitably sell strengths with the help of marketers, and managers can turn weaknesses into strengths with the right approach. Managers will be able to decide what their priority is: to correct and change faults or maintain forces. Understanding the big picture is very important for marketers who can create an advertising strategy or help with a PR strategy. The key to a successful marketing strategy is understanding the target audience, and each target community has its values, priorities, and desires. Marketers, knowing these aspects, will be able to profitably sell existing services and find out which services will be relevant soon for the target group of consumers.
The theory of PESTEL analysis will help make an even broader look at the possibilities of Oasis Cruise and, most importantly, predict customers’ behavior. PESTEL analysis allows people in business to assess the possible future of the industry and its popularity from five different angles. The Oasis Cruise team will be able to see how their business is more likely to change. It can be a political change, an environmental one, or an economic one. By evaluating revenues and the general sociology of customers, Oasis Cruise can stay ahead of the curve, offering cheap services during economic decline. Thus, it will be possible to retain most customers who see that Oasis Cruise adapts exactly to their current opportunities.