Sea Goddess Cruises, Limited (SGC) is obviously not accomplishing what it needs to financially to obtain a fair share of the market. There are a number of current strategies that will be reconsidered and rejected.
The first of these strategies that will be rejected deals with segmentation. Sea Goddess Cruises has not adequately considered enough segments in the market, which has been a major contributor to the lack of market share. SGC should eliminate all plans for monosegmenting. As stated in earlier reports, the segment that SGC is trying to target (i.e. lawyers, doctors, CEOs, etc.) is not large enough to make consistent profit. SGC must look at ...view middle of the document...
Mere travel agency recommendations are not going to be enough to keep SGC alive in the marketplace. Other vehicles are going to be necessary to spread SGC’s message about the luxuries and benefits of this extraordinary cruise. At the present time, only a small number of all travel agencies have the sufficient knowledge that it takes to make an informative sell to the consumer. It may be profitable for SGC to employ some high-quality television commercials on appropriate channels, such as the Travel Network. These commercials would enable the consumer to see, first hand, what the cruise is and what it looks like. Ideally, the consumer could view a SGC television commercial and, upon thinking about it, could then go to a travel agent to get more information such as destination, price, etc. Ultimately, it would lead to a very well informed purchase.
A third strategy that has been rejected is branching out into the family market. A potential strategy was going to be one that aimed to make SGC a family experience, also. Currently, all but two rooms aboard the Sea Goddess I and II, respectively, are doubles. It would be possible for a family package with a two-room package, but this could also be very unattractive to potential passengers. A majority of Sea Goddess passengers board the ship to get away from their hectic day-to-day lives. We could see children as detracting from the privacy and elegance of the boat. This is a key issue because Sea Goddess prides itself on customer intimacy and privacy, and encouraging families to cruise with Sea Goddess may compromise this. Repeat business could decrease if families start to be the dominant demographic on the cruises.
Another potential market that could hurt SGC profit is the singles market. It would be a waste of company dollars to target singles because SGC’s facilities are too limited and not conducive to supporting the singles cruise. Unless a passenger comes aboard with a friend, some kind of a roommate matching service would have to be set up. This would require much more work, including direct mail questionnaires, increased sales associates, etc. Secondly, it is not feasible to think that singles would pay this much money to cruise on a...