Business Analysis: KKL Cruise Liners

EXECUTIVE SUMMARY

This report mainly analyzes and evaluates the targeting process of the travel agency industry, in particular the Cruise liner industry, by focusing on KKL Cruise Liners. KKL Cruise Liners is a travel agency providing packages to sail across oceans and seas to different destinations worldwide.

The report draws attention to the fact that groups of people can have different needs or interests, therefore a business like this one should at least design suitable packages which are at-least close to fulfilling their needs. Its customers get to choose from the two cruises which sail to two different parts of the world.

KKL cruise Liners has already established its main target, which are people who are highly paid or high income earners. The company is slowly but surely reaching its market share potential firstly by segmenting the market, according to the age, lifestyle, income and personal characteristics. Market targeting is another step considered, where a proper evaluation of the segments was noted. Moreover, the evaluation of the sales/market potential was looked into here, as well as the competitive situation along with the cost structure. Lastly positioning being another factor is important. The agency has positioned itself as providing a totally different experience as well as being innovative through its residential cruise line.

Although the KKL cruise liners has already clearly set aside its main goals and objectives,

improvement will also be important overtime.

Introduction

It is a norm for any individual to wonder why businesses that provide various goods and services target a particular market, and how they identify these markets. The questions that usually arise are how do these bus...

... middle of paper ...

...filling it” will be what will keep the company running every day.

Recommendation

KKL Cruise Lines has more future prospects of success and improvement if changes are made to the current operations. More spacious yachts need to be used to increase the high demand of travelers, and more destinations that KKL visits expanded for more exposure. Implementation of yachts ranging from 33 to 50 feet in size to suit every group size and budget is also necessary to help the business increase its revenue and also increasing customer satisfaction. Moreover, by adjusting the marketing mix, that is product, price, place and promotion, greater market share can be achieved if profits exceed a satisfactory. KKL Cruise Lines need to also offer customer’s discounts for being members over a certain period and celebrating special occasions such as Chinese New Year and Eid Fitr.