Good Examples of Market Strategy - Travelwire.com

What is Good Marketing?

Examples of marketing are popping up in the news every day all around the world. In order to model a good business strategy, or even just see what a good marketing plan looks like, it can help to look at companies that are successful as well as those facing problems. By learning from their successes and faults, a marketer can see what does and doesn't work in the real life business industry.

Example

I recently have come across an article on PRWeb.com about a new marketing strategy for Travelwire Inc. Travelwire continues to position itself as a leader in online travel booking sites. The reason why it is recently in the news is because of its new partnership with one of Jamaica's best business advertising and events promotion companies, Outdeh.com. This partnership was made to promote the company's marketing campaign within the Carribean, U.S., Canada, and UK markets.  

According to founder Oliver Huie, "Travelwire is focused on brand positioning and finding unique ways to market our vacation packages to a variety of audiences and we believe the partnership with OutDeh.com represents that. They have a vibrant and experienced marketing team with a strong fan and customer base and we want to communicate our message of being an affordable online travel booking provider to their audience." This partnership includes discount pacjages to cutsomers using Travelwire.com as the preferred vendor for all travel related booking and Travelwire would also be Outdeh.com’s preferred travel partner for all their events. This marketing strategy is very smart and I'll tell you why.

When a business is selling its prodcut within a market, it is important for the business to know its consumers as well as its competitors. Ensuring good product placement within the market through promotion and advertising can increase the brand awarenss of the company, as well as gain more purchasers form the target market population. This in turn leads to higher revenues, profits, and success.

What Travelwire has done is made a partnership with a marketing and advertising company that has access to several new channels. Channels are selling avenues that a business sells its product or service through. They are the means by which a consumer uses to purchase that product or service. An increase in channel position allows a company to have access to more consumers. With outdeh.com providing access to not only the U.S. market, but the Carribean, Canadian, and UK markets, which are all prime vacation and tourism staples, Travelwide is now able to reach more consumers in their target market that they may not have had as much success in reaching before.

By offering discounts to these outdeh customers, travelwide also increases the value of the service they are providing. A lower price for the same qulaity of service they are providing will draw in customers and potentially satisy them enough to continue useage of the service. Promotion is a key element in developing recognition, awareness, retention, and recruitment. Also, by becoming a "preferred travel partner" not only will outdeh.com customers automatically trust travelwide.com due to outdeh.com's reputation and quality, but travelwide itself will gain brand awareness and brand recognition.

Finally, by bringing in an experienced and vibrant marketing team with a strong customer base, travelwide will be able to effectively allocate resources towards a successful stratgey and market plan. By learning from their new partner, travelwire.com can learn what works well with their target market and consumer base. In this new learning process, they will be able to increase not only the customer base and sales, but they will increase profits as well!

As you can see, an effective implementation of strategy can really increase success for your business. If you're ever wondering what to do to increase your business, take these steps: analyze the market, create a plan and strategy, test that strategy, make revisions of your plan is having different incomes while continuing market analysis, and hopefully see your success take action!

You can find the article on Travelwire here:
http://www.prweb.com/releases/2013/11/prweb11325189.htm