2.introduction- executive summary

8/6/2019 2.Introduction- Executive Summary

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1. INTRODUCTION

My area of research falls under Marketing Management.

Marketing management is the application, tracking and review of a business'

marketing resources and activities.

The scope of a business marketing management depends on the size of the

business and the industry in which the business operates. Effective marketing

management will use a company's resources to increase its customer

base, improvecustomer opinions of the company's products and services, and

increase the company's perceived value. 1

My topic of research is Promoting Singapore as a high-end destination for a

niche market.

This falls under the service sector of tourism industry, marketing and promotion.

Tourism is a phenomenon comprising activities of persons traveling and staying

away from home in pursuit of leisure, culture, business and the quest for

knowledge. It is a service industry with several allied and auxiliary activities such

as tour operators, travel agents, accommodation, passenger transportation,

insurance, entertainment and shopping. Thus the tourism industry by nature and

structure is multi-dimensional, it is world wide in its operation and versatile in

character.

Tourism is the worlds largest export industry. The highest growth rate in tourism

in recent years has been registered in third world countries. In the last couple of

decades, tourism has emerged as the most lucrative economic ventures in

almost all developing countries including India as it has immense potentiality in

yielding tax revenues, promoting growth of allied industries, generating income

and gainful employment, and in the development of industrially backward regions.

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This year Vensimal is working on the theme "2009 Reasons to Enjoy Singapore"

where it will be talking about reasons to enjoy Singapore & my objective will be

working on the reasons on fictitious numbers as reason numbers, so all the

activities be it shopping, attraction, lifestyle etc will be considered as a reason to

visit & enjoy Singapore & will be allotted a reason number like 1104, 1105, 1109,

1200 etc.

Vensimal along with Singapore Tourism Board & Singapore Airlines would be

aggressively promoting Singapore as a High End Destination focusing on

shopping & lifestyle during the upcoming Great Singapore Sale.

Great Singapore Sale is the event that showcases Singapore as the most

compelling shopping lifestyle destination of the region. The GSS rewards

shopaholics with a quality sale, complete with a uniquely lifestyle experience in a

safe and convenient/seamless environment. The Great Singapore Sale is an

island wide sale & during this period all the retailers come together & participate

in this sale. It is Singapores most anticipated shopping extravaganza and this

year is starting from the 29 May to 26 July 2009.

VENSIMAL WORLD TRAVEL AGENTS PVT. LTD.

Vensimal World Travel Agents is regarded as one of the leading IATA Travel

Agencies in Eastern India since 1928. Pioneers in this trade, offering value added

services and focused marketing of their products and principals. With 25 Network

Units & over 100 suppliers and trade partners, Vensimal is one of the largest

International Hotel Wholesaler and Package Tour Operator in Eastern India.

Areas of operation:-

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Inbound & Outbound Product Management.

Airline Reservations & Ticketing.

Wholesale of International Hotels & Sightseeing's.

Domestic and International Package Tours. Group & Incentive Tours.

Trade Delegation & Conferences.

Event Management.

Cruise Bookings & European Rail Reservations.

Ground Arrangement and Surface Transport. (domestic & international)

Visa, Passports and Immigration Services.

Travel Insurance.

2. LITERATURE REVIEW

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As per Kotler, Keller, Jha in the book marketing management:

Marketing deals with identifying and meeting human and social needs. One of the

shortest definition of marketing is meeting needs profitably. To prepare to be a

marketer, you need to understand what marketing is, how it works, what is

marketed, and who does the marketing. The American Marketing Association

offers the following marketing definition: marketing is an organizational function

and a set of processes for creating, communicating, and delivering value to

customers and for managing customer relationship is ways that benefits the

organization and its stake holders. 3

Marketing is an integrated communications-based process through which

individuals and communities discover that existing and newly-identified needs

and wants may be satisfied by the products and services of others. The term

developed from the original meaning which referred literally to going to market, as

in shopping, or going to a market to buy or sell goods or services.4

As per http://en.wiklipedia.org/wiki/Marketing:

The Chartered Institute of Marketing define marketing as 'The management

process responsible for identifying , anticipating and satisfying customer

requirements profitably'P.Tailor of www.learnmarketing.net suggests that

'Marketing is not about providing products or services it is essentially about

providing changing benefits to the changing needs and demands of the customer

(P.Tailor 7/00)'.4

Marketing management is an art and science of choosing target market and

getting, keeping and growing customer through creating, delivering, and

communicating superior consumer value.5

IMPORTANCE OF MARKETING

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In the corporate world today, in 2008 creating a thriving corporation faces many

challenges. Even industries that are internationally recognized struggle daily to

maintain status quo. Marketing is a vital component to the prosperity of branding,

and influencing behavior. All of these tactics are performed to encourage sales.

marketing a business involves a whole lot more than merely getting hold of

clients.6

Companies now understand that marketing plays an important roll in their overall

success, so now companies have CMOs (Chief Marketing Officer) along with

CFOs and CEOs. They understand that if there are functions close to customers

its ether Sales or Marketing. Sales become a direct interface among customs and

products offered by companies, and marketing is an indirect function betweencustomer and the company.7

The root word in the term marketing is market. A market is a group of potential

customers for a particular product who are willing to and are able to spend money

or exchange other resources to obtain the product. The term can be somewhat

confusing because it has been used to designate buildings or places institutions

and stores, as well as many other things. But each usage suggests people and

group with purchasing power who are willing to exchange their resources for

something else. 7

THE NATURE OF INTEGRATED MARKETING COMMUNICATIONS

As mentioned my Philip Kotler in the book Marketing Management, Integrated

Marketing Communications is defined by the American Association of Advertising

Agencies as a concept of marketing communications planning that recognizes

the added value of a comprehensive plan. Such a plan evaluates the strategic

roles of a variety of communications discipline- for example general advertising,

direct response, sales promotion and public relations-and combines these

disciplines to provide clarity, consistency and maximum impact through the

seamless integration of messages. The wide range of communication tools,

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messages, and audiences makes it imperative that companies move toward

IMC.8

As mentioned by William M. Pride & OC Ferell in the book Marketing concept

and strategies, IMC refer to the coordination of promotion and other marketing

efforts to ensure maximum informational and persuasive impact on customers.

Coordinating multiple marketing tools to produce this synergistic effect requires a

marketer to employ a broader perspective. A major goal of IMC is to send a

consistent message to customers. Because various units both inside and outside

most companies have traditionally planned and implemented promotional efforts,

customers have not always received consistent messages. IMC provides an

organization ways to coordinate and manage its promotional efforts to ensurethat customers receive consistent messages. This approach fosters not only long

term customer relationships but also the efficient use of promotional resources. 9

As mentioned by Michael J. Etzel, Bruce J Walker & William J. Stanton in the

book Marketing, communication is the verbal or non-verbal transmission of

information between someone wanting to express an idea and someone else

expected or expecting to get that idea. Because promotion is a form of

communication, much can be learned about structuring effective promotion by

examining the communication process. The communication process consists of

several steps. Firstly, the information that the sender wants to share must be

encoded into a transmittable form. Then the message is transmitted through

some communication channel. After that, the sender decodes the message into a

meaningful form. If the message has been transmitted successfully, then there is

some change in the receivers knowledge, beliefs or feelings. The response then

serves as a feedback to the sender of the message whether the message was

received and how it was perceived by the recipient. All the stages of the process

can be affected by noise-that is, any external factor that interferes with successful

communication. 10

P R O M O T I O N

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I N T R O D U T I O N T O T H E P R O M O T I O N A L M I X

As perhttp://tutor2u.net/business/marketing/promotion_mix.asp :

It is not enough for a business to have good products sold at attractive prices. Togenerate sales and profits, the benefits of products have to be communicated to

customers. In marketing, this is commonly known as "promotion".

Promotion is all about companies communicating with customers.

A business' total marketing communications programs is called the "promotional

mix" and consists of a blend of advertising, personal selling, sales promotion and

public relations tools. In this revision note, we describe the four key elements ofthe promotional mix in more detail. It is helpful to define the four main elements of

the promotional mix before considering their strengths and limitations.

(1) Advertising

Any paid form of non-personal communication of ideas or products in the "prime

media": i.e. television, newspapers, magazines, billboard posters, radio, cinema

etc. Advertising is intended to persuade and to inform. The two basic aspects ofadvertising are the message (what you want your communication to say) and the

medium (how you get your message across)

(2) Personal Selling

Oral communication with potential buyers of a product with the intention of

making a sale. The personal selling may focus initially on developing a

relationship with the potential buyer, but will always ultimately end with anattempt to "close the sale".

(3) Sales Promotion

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Liking refers to how the market feels about the product. Promotion can be

used to move a knowledgeable audience from being indifferent to liking a

brand.

Create preference

Creating preference involves distinguishing among brands such that the

market finds your brand more attractive than alternatives.

Stimulate demand

The right promotion can drive customers to make a purchase. In the case of

products that a customer has not previously purchased or has not purchasedin a long time, the promotional efforts may be directed at getting the customer

to try the product. 12

As perhttp://en.wikipedia.org/wiki/Sales_promotion :

Sales promotion is one of the four aspects ofpromotional mix. (The other three

parts of the promotional mix are advertising, personal selling, and publicity/public

relations.) Media and non-media marketing communication are employed for a

pre-determined, limited time to increase consumer demand, stimulate market

demand or improve product availability. Examples include:

contests

point of purchase displays

rebates

free travel, such as free flights

Sales promotions can be directed at either the customer, sales staff,

ordistribution channel members (such as retailers). Sales promotions targeted at

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the consumerare called consumer sales promotions. Sales promotions targeted

at retailers and wholesale are called trade sales promotions. 13

As mentioned by Zikmund/DAmico of the book The power of marketing:

The main purpose of sales promotion is to achieve short-term objectives. Free

samples or coupons encourage a first time trial of the product. A premium offer or

a sweepstakes may stimulate interest in a product and encourage off-season

sales. A contest may require that individuals visit a store or showroom to see if

they have won. Whether the sales promotion takes the form of a trade show, a

consumer rebate, a POP display for retailers, the best sales promotions support

are coordinated with other promotional activities. 14

As mentioned by Johny K Johansson of the book Global Marketing,

With the dismantling of the regulations hampering the economy, India has moved

from a sellers market to a buyers market. This has also meant an increased

emphasis on brand awareness and a consequent need for advertising. Media

availability has increased exponentially, companies ad budgets are large, and

domestic and foreign advertising agencies are competing freely. The advertising

business is booming. 15

As perhttp://en.wikipedia.org/wiki/Advertising:

Advertising is a form ofcommunication that typically attempts to persuade

potential customers to purchase or to consume more of a

particularbrand ofproduct orservice. While now central to the contemporary

global economy and the reproduction of global production networks, it is only

quite recently that advertising has been more than a marginal influence on

patterns of sales and production. The formation of modern advertising was

intimately bound up with the emergence of new forms of monopoly capitalism

around the end of the 19th and beginning of the 20th century as one element in

corporate strategies to create, organize and where possible control markets,

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especially for mass produced consumer goods. Mass production necessitated

mass consumption, and this in turn required a certain homogenization of

consumer tastes for final products. At its limit, this involved seeking to create

world cultural convergence, to homogenize consumer tastes and engineer a

convergence of lifestyle, culture and behaviors among consumer segments

across the world.

Many advertisements are designed to generate increased consumption of those

products and services through the creation and reinvention of the "brand image" .

For these purposes, advertisements sometimes embed their persuasive message

with factual information. Every major medium is used to deliver these messages,

including television, radio, cinema, magazines, newspapers, video games,

the Internet,carrier bags and billboards. Advertising is often placed by

an advertising agency on behalf of a company or other organization.

Organizations that frequently spend large sums of money on advertising that sells

what is not, strictly speaking, a product or service includepolitical parties, interest

groups,religious organizations, and military recruiters. Non-profit

organizations are not typical advertising clients, and may rely on free modes of

persuasion, such as public service announcements.

Money spent on advertising has increased dramatically in recent years. In 2007,

spending on advertising has been estimated at over $150 billion in the United

States and $385 billion worldwide, and the latter to exceed $450 billion by 2010.

While advertising can be seen as necessary foreconomic growth, it is not

without social costs. Unsolicited Commercial Email and other forms ofspam have

become so prevalent as to have become a major nuisance to users of these

services, as well as being a financial burden on internet service providers.

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[4] Advertising is increasingly invading public spaces, such as schools, which

some critics argue is a form of child exploitation. 16

As mentioned by Kenneth Roman & Jane Maas with Martin Nisanhaltz of the

book How to advertise :

Advertising is a business of ideas. Whether or not you consider yourself creative,

you must respect the creative process and understand how to work with and

inspire creative people. All human beings are not equal, when it comes to

grabbing ideas that are good. But we are all more equal than we think. The

business of ideas has several parts:

Where ideas come from.

Protecting new ideas.

Create an environment for ideas.

Generating Ideas.

Magic of Ideas.17

As mentioned by the author AD Farbey of the book the art of marketing :

WHAT ADVERTISING CAN DO

It can create awareness or make things known.

It helps to create or develop favourable attitudes.

It can create a brand identity.

It helps to position a product in the market.

It helps to create a force to build and strengthen producer-customer

relationships over time.

To offset competition in the emerging competitive market, by enhancing

the growth of the competitive activity.

It helps meet competitors and match competitors, by persuading the

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customer or providing a counter-claim.

It gives a unique personality to the brand or the product or both. Thus,

differentiates one from the rest.

It helps the organization to reach a mass of people, which is not possible

through direct communication.18

As perhttp://www.oppapers.com/essays/Cadbury/136805

WHAT ADVERTISING CANT DO

If the product or service is poor, advertising can sell it once, but not twice.

If the corporate fails, advertising cannot add to its credibility, thus it is

ineffective.

Advertising cannot overcome poor price of the product, inappropriate

pricing would lead to failure.

It cannot create demand when other elements have failed.

It cannot create demand, when the market is low.19

PERSONAL SELLING

As mentioned by Michael J. Etzel, Bruce J Walker & William J. Stanton in the

book Marketing, Personal selling is the direct, personal communication of

information, in contrast to the indirect, impersonal communication of advertising,

sales promotion, and other promotional tools. This means that personal selling

can be more flexible than these other tools. Sales people can tailor theirpresentations to fit the needs and behavior of individual customers. They can see

their customers reactions to a particular sales approach and make adjustments

on the spot. 20

As perhttp://en.wikipedia.org/wiki/Public_relations:

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Public relations (PR) is the practice of managing the flow of information between

an organization and its publics. Public relations gains an organization or

individual exposure to their audiences using topics of public interest and news

items that do not require direct payment. Because public relations places

exposure in credible third-party outlets, it offers a third-party legitimacy that

advertising does not have. Common activities include speaking at conferences,

working with the press, and employee communication.

PR can be used to build rapport with employees, customers, investors, voters, or

the general public. Almost any organization that has a stake in how it is portrayed

in the public arena employs some level of public relations. A number of

specialties exist within the field of public relations, such as Analyst Relations,Media Relations, Investor Relations orLabor Relations. 21

As perhttp://en.wikipedia.org/wiki/Target_audience

In marketing and advertising, a target audience, or target group is the primary

group of people that something, usually an advertising campaign, is aimed at

appealing to. A target audience can be people of a certain age group,

gender, marital status, etc. (ex: teenagers, females, single people, etc.) A certain

combination, like men from twenty to thirty is often a target audience. Other

groups, although not the main focus, may also be interested. Discovering the

appropriate target market(s) to market a product or service to is one of the most

important stages involved with market research. Without knowing the target

audience, a company's advertising and the selling efforts can become difficult

and very expensive. 22

As perhttp://en.wikipedia.org/wiki/Niche_market:

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A niche market is the subset of the market on which a specific product is focusing

on; Therefore the market niche defines the specific product features aimed at

satisfying specific market needs, as well as the price range, production qualityand the demographics that is intending to impact.

Every single product that is on sale can be defined by its niche market. As of

special note, the products aimed at a wide demographics audience, with the

resulting low price (due to Price elasticity of demand), are said to belong to the

Mainstream niche, in practice referred only as Mainstream or of high demand.

Narrowed demographics though lead to elevated price because of the same

principles.

In practice, product vendors and trade businesses are commonly referred as

mainstream providers or narrow demographics niche market providers

(colloquially shortened to just niche market providers). Small capital providers

usually opt for a niche market with narrow demographics as a measure of

increasing theirgain margins.

Nevertheless, the final product quality (low or high) is not dependant on the price

elasticity of demand though, it is more associated with the specific needs that the

product is aimed at satisfy and in some cases with brand recognition which the

vendor wants to be associated with (i.e Prestige, Practicability, Money saving,

Expensiveness, Planet environment conscience, Power, etc) 23

As per:

http://www.entrepreneur.com/marketing/marketingcolumnistkimtgordon/article496

08.html:

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Most companies, whether big or small, direct their marketing to select niche

audiences. Even the country's largest manufacturers target carefully

pinpointed market segments to maximize the effectiveness of their programs

and often tackle different niches for each product group.

Niche marketing can be extremely cost-effective. For instance, imagine you

offer a product or service that's just right for a select demographic or ethnic

group in your area, such as Hispanics or Asians. You could advertise on

ethnic radio stations, which have considerably lower rates than stations that

program for broader audiences. So your marketing budget would go a lot

further, allowing you to advertise with greater frequency or to use a more

comprehensive media mix.

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3. METHODOLOGY

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3.1 Introduction to Research Methodology

Research in common parlance refers to a search for knowledge. One can

also define research as a scientific and systematic search for pertinent

information on a specific topic. In fact, research is an art of scientific investigation.

The Advanced Learners Dictionary of Current English lays down the meaning of

research as a careful investigation or inquiry especially through search for new

facts in any branch of knowledge. Some people consider research as a

movement from the known to the unknown. It is actually a voyage of discovery.

We all possess the vital instinct of inquisitiveness for, when the unknown

confronts us, we wonder and our inquisitiveness makes us probe and attain full

and fuller understanding of the unknown. This inquisitiveness is the mother of all

knowledge and the method, which man employs for obtaining the knowledge of

whatever the unknown, can be termed as research.

Research is an academic activity and as such the term should be used in

a technical sense. According to Clifford Woody research comprises defining and

redefining problems, formulating hypothesis or suggested solutions; collecting,

organizing and evaluating data; making deductions and reaching conclusions;

and at last carefully testing the conclusions to determine whether they fit the

formulating hypothesis.

Research is, thus, an original contribution to the existing stock of

knowledge making for its advancement. It is the pursuit of truth with the help of

study, observation, comparison and experiment. In short, the search for

knowledge through objective and systematic method of finding solution to a

problem is research.

At the end of the session, you should be able to:

1. Define the research objective

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2. Identify the problem

3. Formulate a Hypothesis

4. Various methods of Data Collection

5. Ethical Considerations

Research Objective

Though each research study has its own specific purpose, we may think of

research objective as falling into a number of following broad groupings:

1. to gain familiarity with a phenomenon or to achieve new insights into I

(studies with this object in view are termed as exploratory research

studies)

2. To portray accurately the characteristics of a particular individual,

situation or a group (studies with this object in view are known as

descriptive research studies)

3. To determine the frequency with which something occurs or with which it

is associated with something else (studies with this object in view are

known as diagnostic research studies)

4. To test a hypothesis of a causal relationship between variables (such

studies are known as hypothesis-testing research studies).

Problem Identification

Quite often we hear that a problem clearly stated is a problem half solved.

This statement signifies the need for defining a research problem. In the research

process, the first and foremost step happens to be that of selecting and properly

defining a research problem. A researcher must find the problem and formulate it

so that it becomes susceptible to research. Like a medical doctor, a researcher

must examine all the symptoms (presented to him or observed by him)

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concerning a problem before he can diagnose correctly. To define a problem

correctly, a researcher must know: what a problem is?

Formulation of a Hypothesis

Hypothesis is usually considered as the principal instrument in research.

Its main function is to suggest new experiments and observations. In fact, many

experiments are carried out with the deliberate object of testing hypothesis.

Ordinarily, when one talks about hypothesis, one simply means a mere

assumption or some supposition to be proved or disproved. But for a researcher

hypothesis is a formal question that he intends to resolve.

Data Collection

The task of data collection begins after a research problem has been defined and

research design chalked out. While deciding about the method of data collection

to be used for the study, the researcher should keep in mind two types of data

viz., primary and secondary.

Primary Data: It is the information collected directly from a respondent population

as opposed to secondary or published data. Methods of collecting primary data

are observation, interview, through questionnaires and consumer panels. Primary

Data involved the collection of data that does not already exist. It was collected

through numerous forms, including questionnaires and telephone interviews

amongst others. This information is also collected in things like questionnaires,

magazines, and interviews.

Secondary Data: Any information that was collected from intermediate sources.

Industry figures, databases, library sources and so forth are examples of

secondary data. Secondary data sources may include published or unpublished

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data. Published data were available in various publications of the central, state

and local governments, books, magazine and newspaper, and unpublished data

are prepared by research scholars, universities and economists in different fields.

The research work for this project has been done through primary and secondary

sources.

The questionnaire method is quite popular, particularly in case of big enquiries. It

is being adopted by private individuals, research workers, private and public

organizations and even by governments.

The method of collecting data by mailing the questionnaire to respondents is

most extensively employed in various economic and business surveys. The

merits claimed on behalf of this method are as follows:

1. There is low cost even when the universe is large and is widely spread

geographically.

2. It is free from the bias of the interviewer; answers are in respondents

own words.

3. Respondents have adequate time to give well thought out answers.

4. Respondents, who are not easily approachable, can also be reached

conveniently.

The main demerits of this system can be listed here:

1. Low rate of return of the duly filled in questionnaires; bias due to no-

response is often indeterminate.

2. It can be used only when respondents are educated and cooperating.

3. The control over questionnaires may be lost once it is sent.

4. It is difficult to know whether willing respondents are truly representative.

5. This method is likely to be the slowest of all.

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The interview method of collecting data involves presentation of oral-verbal

stimuli and reply in terms of oral-verbal responses.

The merits of the interview method are as follows:

1. More information and that too in greater depth can be obtained.

2. It is flexible, faster and cheaper.

3. Interviewer by his own skill can overcome the resistance, if any, of

the respondents; the interview method can be made to yield an almost

perfect sample of the general population.

4. There is greater flexibility under this method as the opportunity to

restructure questions is always there, especially in case of unstructured

interviews.

5. Observation method can as well be applied to recording verbal answers

to various questions.

The demerits of the interview method are as follows:

1. It is a very expensive method

2. There remains the possibility of the bias of interviewer as well as that

of the respondent.

3. Certain types of respondents such as important officials or

executives or people in high income groups may not be easily

approachable.

4. This method is relatively more-time-consuming.

5. Interviewing at times may also introduce systematic errors.

Observation

Observation involves recording the behavioral patterns of people, objects and

events in a systematic manner. Observational methods may be:

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Structured or unstructured, Disguised or undisguised, Natural or contrived,

Personal, Mechanical, Non-participant or Participant.

Case-studies

The term case-study usually refers to a fairly intensive examination of a single

unit such as a person, a small group of people, or a single company. Case-

studies involve measuring what is there and how it got there. In this sense, it is

historical. It can enable the researcher to explore, unravel and understand

problems, issues and relationships. It cannot, however, allow the researcher to

generalize, that is, to argue that from one case-study the results, findings ortheory developed apply to other similar case-studies. The case looked at may be

unique and, therefore not representative of other instances. It is, of course,

possible to look at several case-studies to represent certain features of

management that we are interested in studying. The case-study approach is

often done to make practical improvements. Contributions to general knowledge

are incidental.

The case-study method has four steps:

1. Determine the present situation.

2. Gather background information about the past and key variables.

3. Test hypotheses.

4. Take remedial action.

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3.2 Quantitative and Qualitative research and data gathering

The task of data collection begins after a research problem has been defined and

research design chalked out. There are mainly two types of data, primary and

secondary.

Qualitative Research Data: Qualitative methods are those which focus on

numbers and frequencies rather than on meaning and experience. It is a field of

inquiry that crosscuts disciplines and subject matters. Qualitative methods are

ways of collecting data which are concerned with describing meaning, rather than

with drawing statistical inferences. They provide a more in depth and rich

description.

Quantitative Research Data: Quantitative methods (e.g. experiments,

questionnaires and psychometric tests) provided information which was easy to

analyze statistically and fairly reliable. The objective of quantitative research was

to develop and employ models, theories and/or hypotheses pertaining to natural

phenomena. Quantitative methods were associated with the scientific and

experimental approach and were criticized for not providing an in depth

description. Quantitative methods have come under considerable criticism. In

modern research, most psychologists tend to adopt a combination of qualitative

and quantitative approaches, which allow statistically reliable information

obtained from numerical measurement to be backed up by and enriched by

information about the research participants' explanations.

Data Gathering

The various methods adopted for my researches are:

1. Questionnaires

2. Observations

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The methods were selected, keeping in mind the nature of the subject. When we

talk about advertising and sales promotion, it is directly related to the consumer

behavior. Thus, we could only find questionnaire method to know the consumer

perspective. The interview method was really similar to the prior method.

Observation was done to study the impact of various method adopted by various

companies which provided a holistic approach about the topic. Thus, we the

various methods were studied to come to a conclusion.

3.3 Data Analysis

Media strategy is about attempting to ensure that a clients message is seen orheard by the right people, at the right time, in the right place, in the right

environment, with the right frequency and weight, and at the right price, and

remembering that each problem is different.

Normally, a mix of media is used and media planners use past experience along

with research.

The Various tools, which were used to conduct the project research included

Questionnaire method. In this method, around 60 high-income grouped people

were asked questions, related to marketing communication channels such as

advertising and sales promotion and also there were questions about their

shopping preferences and priorities.

The questionnaire was designed in such a way, so that the basics of advertising

and sales promotion could be made aware to the respondent. The initial

questions built up an interest to answer rest of the questions. The questions were

very interesting, and as per the results, we were in a condition to make a

conclusion.

The first question was aimed to find out that which communication tool would

influence our target audience the best, and from the replies of the respondents it

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was found out that most of the people were pretty exposed to the various

communication tools, but newspaper was found to be read by 98.33 % of the 60

people we had questioned. (Refer to annexure 1)

Next we asked them whether they preferred branded shopping, non-branded or

both. From the replies we got, we found out that most of the high-income grouped

people were fond of branded shopping and only 10% opted for non-branded. So

it is clearly evident that the high end market of Kolkata do prefer branded

shopping. (Refer to annexure 2)

The next question was whether they perceived shopping as a necessity,

enjoyment or lifestyle. The answers we got showed that quite a handful of them

considered it as a necessity but most of them perceived it as enjoyment and a

lifestyle experience. (Refer to annexure 3)

Our next question was based on the Great Singapore Sale itself, that is, whether

they have heard of it before or not. The replies we got told us that 60% people

were aware of the GSS and rest were not sure and some had never heard of it

before. (Refer to annexure 4)

Lastly, we asked them whether they would prefer a premium package for the

GSS, and 65% of the target audience said a yes. (Refer to annexure 5)

The second method which was used was observation, where we studied the

patterns of communication of our competitor (The Kuoni Travel Group, India) and

the ads published by the company. We observed what the reaction of the

companies is, and how they go about promoting their brands. We also tried to

analyze their strategy with regards to the Great Singapore Sale and came to

various conclusions. (Refer to annexure 6)

The ad published by them focused on shopping and much more, it talked about

the various GSS events and also other various promotional offers like the GSS

tourist privileges which the travelers can avail during the GSS period. It also

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displayed a very attractive picture of shoppers who are enjoying the shopping

experience and filling their bags with a whole range of items and making good

use of the discounts on big brands.

This ad helped us to understand the companys strategy and how they are going

about promoting their brands so that we can keep it mind while we plan out our

package and the ad. Ultimately our aim is to present something different from the

general packages which are available in the market & also to give a special

experience to people who book these packages.

Secondary data:

Since the year 2005, this event - organized by The Association of ShoppingCenters (Singapore) has been a highlight of the annual GSS.

As of July 2008

Rising costs have not dampened the shopping spirit during this Great Singapore

Sale.

Figures from MasterCard:

Local cardholders spent 33 per cent more in the first month of the sale, period of

(May 23 to June 21), compared to the same period last year. Total Spending has

been $238 million so far.

MasterCard World Wide Index of Consumer Confidence:

Singapore consumers are most optimistic towards the second half of the yearcompared to their other Asia-Pacific counterparts

Total MasterCard spending for the GSS so far (includes that from tourists):

A 27 per cent rise from last year to US$364.6 million

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Consumer Spending (Popular Categories):

(1) Dining: Sales were up 38 per cent compared to last year to US$27.8 million

(2) Jewellery, watches and silverware: With receipts growing 30 per cent to

US$15.1 million

(3) Department store transactions: US$14.4 million, up 16 per cent.

Based on the research conducted, the ad was finalized and we came up with the

following reasons to enjoy Singapore during the GSS. (Refer to annexure 7)

THE PACKAGE (Reason no. 1129- fun filled holidays for pleasure seekers)

The package included 4 nights stay at Meritus Mandarins premier room with

private return airport transfers (BMW or MBenz), breakfast at Jurong Bird Park.

Private dinner and drinks at Clark quay, fun filled program to underwater world,

dolphin lagoon, images of Singapore, songs of the sea, cineblast and watching a

romantic sunset at Sentosa.

LATE NIGHT SHOPPING (Reason No. 1118 Be a part of the Nocturnal

Rush)

Every Saturday till 11 p.m.

NIGHTLIFE(Reason No. 1125 Put on your dancing shoes)

The sun may dim but the fun doesnt! As night falls, life begins in many quarters

of Singapore. Whether youre a party animal, a 24-hour foodie or just a night owl

craving adventure around the clock, there are many sizzling surprises to keep

your senses satiated till the wee hours of the morning. In fact, Singapore has the

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added advantage of being one of the safest countries in the world for you to hit

the streets at night.

SINGAPORE FOOD FESTIVAL(Reason No. 1145 Tease your Taste buds)

Attention all food lovers out there! The highly-anticipated annual Singapore Food

Festival will be back from 17th July 26th July 2009 with a Peranakan twist. This

year's Food Festival continues to bring Singapores much-loved local cuisine to

the world stage by highlighting its unique local food and heritage.

With the Peranakan culture as the main theme this year, visitors will be

introduced to the heavenly tastes of typical Nonya cooking in Singapore, which is

a unique blend of Chinese and Malay cuisines. Come immerse yourself in the

distinctive Peranakan culture and enjoy an eclectic selection of tantalizing

Peranakan delights. This is as close as you can get to experience being a

Peranakan for a day, only at the Singapore Food Festival 2009! Not forgetting our

other ethnic cultures, this year's food festival will also see Chinatown, Little India

and Kampong Glam highlighting the unique aspects of their respective ethnic

cuisines and the different cultures through food.

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3. Problem statement

While advertising creates awareness and provides to the

target consumer the rationale to buy a product, sales

promotion induces him/her to try/buy the product.

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5. RESULTS

5.1 FINDINGS

From the findings, we can say that advertising and sales promotion have different

purposes. Advertising creates awareness about the product or service whereas

sales promotion makes the consumers buy the product.

It has been seen that promotion uses various tools to perform three essential

roles-informing, persuading and reminding target audiences. Many companies

use sales promotion to compete in the market because it helps to stimulate sales

and even consumers nowadays are attracted by and prefer to go in for various

promotional tools offered by companies. We have seen as to how important it is

for companies, to adapt the sales promotion techniques in order to make the

consumers buy their product.

Advertising is a key element in the promotional mix of marketing. It is a tool used

by marketers to reach out to the end users of the products and services. It isexpected to create a brand image and build brands.

The findings also revealed how the market for tourism in Kolkata is growing. Now

people are becoming more open to try new ideas and exploring places, they also

have become brand-conscious and lifestyle oriented.

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5.2 EXPERIENCE AFTER RETURN

5.2.1 WORK LIFE

My work experience has been very good and fruitful in the company for which I

worked. It was a wonderful experience. I did my internship in Vensimal World

Travel Agents Pvt. Ltd. Being a travel agency the work environment was very

conducive and hassle-free. There was a formal work procedure to conduct the

tasks but the environment was totally comfortable. There was good coordination

between people and the various departments of the firm. I worked their for 8

weeks and we had to wear formals except for Saturdays. Basically, the

companys work life was a great place to work and learn.

5.2.2 SOCIAL LIFE

The employees in the firm were extremely friendly and cooperative. Whenever I

have had problems they have also been quite helpful. This made the work

environment also very pleasant and warm. The employees also used to have

lunch together. Though, some groups were formed, but no differences were seen

among them. Our supervisor also made us feel very comfortable and dealt with

the employees very patiently.

5.2.3 COMPANY SUPPORT

My supervisor, Mr. Satish Ramnani is a great person to work with. He is chilled

out and fun loving but he is very particular about punctuality. He is a very caring

person and dealt with me very patiently. He helped me in my research work and

showed trust on me by giving me access to confidential information. He detailed

me on my research and then told me to work to get it. Nothing was served on a

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platter. This really helped me gain confidence and knowledge. He helped me

locate the flaws in my project so that I could rectify it. So, the company support

was tremendous.

5.2.4 INDIVIDUAL COPING STRATEGIES

There was no specific incident when I was faced with a problem, but sometimes

work pressure was immense and time was less. So it used to get stressful that

time. But it is a part of work life. Other than that, there were some differences

among some of the employees, which do exist in every organization. So, I was

pretty satisfied with my experience.

5.3RECOMMENDATIONS

I have worked for one of the top travel agencies in Kolkata and I dont think I can

actually recommend anything to them. But they can always open up more service

centers in the city. Apart from this, I dont think I have any area to recommend on,

because the work environment was comfortable and employees were

professionals.

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6. CONCLUSION

6.1 LIMITATIONS

My project mainly focused only on one destination which is Singapore. I have

mainly worked upon only two tools of marketing which is advertising and sales

promotion. Had there been more option available, the study would have improved

to a great extent. The project accomplished could not take into account the other

ways by which customers can be influenced. I would rather say that the scope for

research was very limited. Further more the research was focused on only the

high-end market of Kolkata.

6.2 AREAS NOT TOUCHED

The two marketing tools are being touched upon but the other aspect like

consumer behavior has not been discussed. The basics of marketing have been

discussed, but the positioning of marketing communication in the marketing

department has not been discussed. Thus, we see a very crunch form of theproject. The project is only limited to Sales promotion and advertising.

6.3 SCOPE FOR FUTURE RESEARCH

The scope for future research is quite broad. Other marketing communication

tools life personal selling and publicity can be used to influence consumer

behavior. The market can be broadened as well, so that the scope of research is

wide. Certain aspects such as brand positioning can also be considered in

future. These are some of the points which would make the study more efficient

and effective.

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7. EXECUTIVE SUMMARY

The objective of the project is to deeply analyze the high-end Kolkata market to

understand what are their preferences in shopping with a view to promote

Singapore as a high end destination focusing on shopping & lifestyle during the

upcoming Great Singapore Sale. GSS is the event that showcases Singapore as

the most compelling shopping lifestyle destination of the region. It is Singapores

most anticipated shopping extravaganza and this year is starting from the 29 May

to 26 July 2009.

The project involves the service sector of tourism industry, sales promotion and

advertisement tools. Thus the area of research is marketing management. The

company where the internship is done is Vensimal World Travel Agents Pvt. Ltd.

Vensimal World Travel Agents is regarded as one of the leading IATA Travel

Agencies in Eastern India since 1928. This year Vensimal is working on the

theme "2009 Reasons to Enjoy Singapore" where it will be talking about reasons

to enjoy Singapore & my objective will be working on the reasons on fictitious

numbers as reason numbers, so all the activities be it shopping, attraction,

lifestyle etc will be considered as a reason to visit & enjoy Singapore

The project analysis is based on information which is collected from 15 to 20

various sources including books, business magazines and various websites from

internet. The literature survey consists of various definitions of marketing, sales

promotion and advertising tools. It analyze that the nature of advertising and

sales promotion were very different from each other.

Moving forward with the project, the various research tools were devised, which

were used during the course of the project to work on the topic. For the sake of

research, primary data is mainly used which includes both qualitative and

quantitative data. The tools used for the collection are questionnaires and

observation. The methods were selected, keeping in mind the nature of the

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subject. When we talk about advertising and sales promotion, it is directly related

to the consumer behavior. Thus, we could only find questionnaire method to

know the consumer perspective. Observation was done to study the impact of

various method adopted by various companies. The secondary data used in this

research is gathered by various magazines, books, internet, journals etc.

The data analysis includes the analysis of both primary data as well as secondary

data. For the purpose of analysis, the various Mathematical tools used are Pie-

Charts, Line Graphs, Bar Graphs, Tables, etc. to understand the various raw

facts collected and come to a conclusion. It helped the company to understand

the likings and preferences of the market and which advertising tool or media

would best fulfill their purpose.

The findings concluded the importance of sales promotion in the marketing

activities of a company, and also how advertising plays a different role in the

same organization. Though, both are different concepts, but they may be used

complementarily, individually and also at the same time.

2.introduction- executive summary

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