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Marketing Strategy Plan Assignment: Tourism Products Of New Zealand

Question

Task: For many businesses, growth is only achievable by taking risks. Whether this means entering new markets, creating new products and services, increasing tourism attractions, or investing in infrastructure, all options present some degree of uncertainty. The aim of this project is to develop a strategic marketing plan for New Zealand as a tourism destination. Fully understanding the tourism product offerings by New Zealand is crucial in order to market it successfully. Understanding the dynamics of the target market and its key trends is also important to reduce risk and maximize revenue and market share. You are required to choose any NZ tourism product(s) and market it(them) internationally. To succeed in this assignment, conduct thorough market analyses through extensive literature review. Once you gather the required information, develop a robust marketing plan for the chosen New Zealand tourism product(s).

Answer

Executive Summary
The below presented marketing plan and strategy is focused on the tourism destinations that are the tourism products of New Zealand and are expected to be promoted in Nepal by making use of a marketing plan. The marketing plan is developed after executing a detailed research over the tourism industry of New Zealand. The plan in this marketing plan and strategy comprise of various approaches and strategies that will be required to adopted by the business organization for promoting the tourism products in Nepal. The first part of the marketing plan assignment consists of situational analysis which is aiding the scenario by providing detailed data over each and every aspects and elements of internal and external environment of the industry and the market of New Zealand. The next part of the marketing plan assignment is the concerned with the marketing analysis that is briefing over the aspects associated with the market. And last part comprise of all the financial aspects that is concerned with the budget and expenses to be incurred while promoting the tourism products in Nepal.

Introduction
Marketing plan can be named as a business record that is a framework for the advertising methodologies and strategies produced for the fulfilment of the business destinations and targets. This archive is one of the indispensable players that is contributing altogether in the achievement and development of a business enterprise. The plan discussed in this marketing plan assignment builds up the business substance with a structure of some particular activities that the business element is expecting to execute for invigorating the potential customers and customers for buying the item and administrations. The showcasing plan makes the usage of the promoting systems. Based on the examination it has been executed that advertising methodology offers the objectives and achievements that are required to be practiced by the showcasing plan (Abidi, Shafiq, Arshad, Pirwani & Hassan, 2015). It gives guidance to the endeavours made by the different divisions and offices inside a hierarchical structure. The arrangement is considered as the particular guide that gives direction to the staff or the working group towards the pre-decided targets and objectives that are required to be successfully and basically achieved inside a given due date. It can likewise be considered as an independent record or as a major aspect of a marketable strategy and furthermore a diagram that will impart the estimation of the items and administrations to the potential customers.

The below presented marketing plan assignment is developed for promoting the best destinations of New Zealand (Natural Tourism products) internationally. These tourism products will be promoted by the help of the developed marketing plan for Adventure Company Australia. The business entity will be advertising the tourism products in Nepal which is one of the most favourite tourist destinations.

Industry Overview
Tourism industry is an influential sector that plays an important role in development of country economy. . It contributes towards absolute growth of a country by building country’s image and brand value. Also, it directly impacts many industries and several other industries indirectly through travel spend. This industry also is responsible for foreign exchange earnings and economic value of a country.

Importance of the travel and tourism industry arises from the various benefits and advantages it brings to any country. Similarly, it plays a significant role for New Zealand’s economic development and growth. The tourism industry of New Zealand accounts for $18.6 billion to the World economy every year which is 10 percent of its GDP. It, which supports one in every nine jobs on the Earth, is an important source of employment opportunity. Global travelers account for NZD15.8 billion to the New Zealand’s economy which contributes almost 6.0% of total GDP in 2017 and is forecast to increase by 3.0% per annum from 2018-2028. Mostly the tourist services provided by any tourism industry are like accommodation, food, adventure, transport.

New Zealand is an attractive, photogenic country offering its tourists exploration. There are so many places to do adventure like Auckland city, Hauraki Gulf, Waiheke island, North and West Auckland, Christchurch, Willington, Dudedin, Nepier, Nelson and many more (Guthrie 2019). The country promotes itself internationally as a green and clean tourist destination with nature adventure areas like Abel Tasman National Park and Milford Sound.

The travel and tourism industry is a significant sector for any country and generally every country promotes and supports its tourism industry. The country is globally seen as a high rated tourist destination, the Tourism New Zealand, country’s official travel agency, internationally promotes the country and its travel destinations (Guthrie 2019). The VISA policy of New Zealand is very liberal which means that it is easy for an international visitor to get a New Zealand VISA. The main purpose of the marketing plan assignment is to provide superb service through a better market strategy. The plan aims at superior business in terms of travel service, market, adventure in all forms of domestic and international travel with an objective to improve the quality of tourism industry of New Zealand.

Situational Analysis
In corporate terms or market life, Situation analysis is a systematic analysis of a business organization’s internal and external factors to know the business’s potential, customers, market environment and its effect on the organization (Armelini & Villanueva, 2011). It clearly collects social, political, environmental and present technological data and later, evaluates these data in order to identify the forces, strengths, weaknesses, threats, and opportunities that can affect the performance of an organization while promoting the tourism products in Nepal.

Situation analysis is clearly important to every marketing plan as it identifies all the key factors that are needed to be kept in mind while developing a better marketing plan. Marketing emphasizes on the role of customer satisfaction. Travel and tourism has nothing different when it comes about marketing. Many countries adopted marketing as a strategic business tool. In New Zealand, it emphasizes on more professionalism and adventure-playground. In the travel and tourism, marketing aims at customer’s satisfaction and needs in order to find out the future requirements (Arrawatia, 2018). In New Zealand, tourism is mainly marketed to solo and small group visitors.

There has been a high market trend in this industry over a couple of decades. It is found that there is a demand for good quality tourism services, which has created segments of the huge market for specific holidays; now people have high standards of spendable income and sophisticated tastes for better destination hotels, hi-fi resorts, family-oriented travel plans.

Thus, there is a need for developing a better marketing plan for Adventure company Australia promoting the same over global grounds.

Marketing Summary
Tourism marketing in New Zealand has been fragmented across the country and overseas arrivals have grown by 7.1 percent in 2015 (export.gov 2018). Seat availability on airplanes to and from the country has also increased; this has capacity to increase more in the coming years with an addition of new air routes. Increased air potential shows a chance for airlines’ business and the tourism industry’s business. Increases in number of tourist arrivals have risen the visitor stay days, too. Apart from air routes, the number of crew arrivals, port voyages has also been increased in New Zealand over the years. Although seasonality in tourism is a major issue in the country’s tourism policy with high December, January and February arrival peaks obvious across the world. After seasonality, the major issues faced by the tourism industry are unskilled working staff, increasing demands, and investment in tourism infrastructure. Tourism expenditure is not evenly spread throughout the New Zealand, although very few surveys reported on the drawbacks of regional dispersal in their business.

Market Analysis
As discussed in this marketing plan analysis New Zealand is known as top holiday destination worldwide and there is a growth in visitors from various countries such as China (7.3%), Hong Kong (7.5%), Canada (5.5%), USA (6.6%), Singapore (5.5%) and India (10.6%). Australian and Chinese market alone account for grew by 50.3 percent tourist arrivals in 2017-18. The tourism industry of New Zealand launched an advertising campaign, named Tourism New Zealand, in 2000 which increased in the number of British visitors to 61%. Periodic campaigns to promote domestic tourism in New Zealand are also launched by the Tourism New Zealand. Domestic tourism also plays a vital role in the country’s economy and it contributes NZ$14 billion to its economy. The domestic market has great potential because it has tendency to travel in off seasons such as regional holidays, Christmas, New Year and national vacations when there is less possibility of international visitor arrivals.

Market Trends
New Zealand one of the top countries who lead global tourism trends with expanded tourist arrivals. Last year, the report submitted by UNWTO World Tourism recorded that, in New Zealand, total tourist visit numbers increase by 10 percent to 3.6 million visitors and by this increment the country becomes the leading global tourism trend, which tells that tourist arrivals raised by 3.9 percent for 2016 and 6 percent for 2017 (Tourismnewzealand 2017). International tourist arrivals are forecast to reach 5.2 million tourists in 2024 for New Zealand. In Financial Year 2017, New Zealand Tourism industry launched many programmes aimed at increase in foreign arrivals to places less visited. China has been expected as New Zealand’s largest market in tourism and it is forecasted to reach approximately 80,000 Chinese tourist numbers in the country by 2024 (Tourismnewzealand 2017).

While Australia is the largest source market of tourist arrivals for New Zealand. It is expected that this source market will account for 1.8 million Australian visitors to New Zealand, annually, by 2024 (Tourismnewzealand 2017). Besides China, Tourism New Zealand is expecting to drive short term rise in visitors from Asian countries like India, Singapore, Indonesia and Nepal with increased air connectivity and other transportation means. The country has commercial and marketing partnerships with Google, international travel agencies, celebrities, and several airlines to promote country’s tourism industry and these partnerships will be aiding business entity in promoting the tourism products.

Market Growth
In 2018, foreign visitors in New Zealand increased 5.4 percent, while vacation arrivals increased 6.5 percent. It is also found that unbelievable growth in foreign visitors visiting in the non-seasonal tourism months with a 5.5 percent hike in compare to the previous year (Tourismnewzealand 2017). Campaigns started by the New Zealand tourism industry such as hash tag Get NZ on the Map proved trendy and resulted into impressive tourism market/business.

These business events and strategic campaigns exceed tourism expectations of the country and prove that they have the capacity to increase the value of foreign visitors to New Zealand. The industry aims at long-term value, managing its sectors skilfully, and regional growth strategically to improve customer satisfaction.

SWOT analysis
Tourism is a growing part of the economy of New Zealand. It is shaped by the country’s culture, environment and society. Whether these are foreign visitors or domestic travellers, they all contribute to the tourism industry (Bienkowski et al., 2010). SWOT Analysis identifies the strengths, weaknesses, opportunities and threats which directly or indirectly influence the industry and the same will be proven beneficial for the marketing plan of Adventure Company Australia.

Strengths:

  • Sustainable tourism– New Zealand tourism industry promotes sustainable tourism that means it delivers the best value – social, economical, environmental and cultural – with as much desired effects as possible. All these elements will be proven beneficial for the business organization while promoting the tourism products in Nepal.
  • It offers superb customer service in order to completely satisfy its visitors. The culture and environment of New Zealand is authentic and rich (Lam & Harker, 2015).
  • The tourism industry of New Zealand provides adventure sports such as bungee jumping with classy, quitter resorts and let visitors to explore, experience new adventures. All of the above mentioned components are aiding in the attractiveness of the tourists destinations in New Zealand and this is significant for seeking attention of tourists from Nepal.
  • The tourism is convenient and customized to meet the desires, needs of customers. It manages according to the expectations of visitors (Edwards & Wilson, 2017).
  • The New Zealand is one of the safest countries to visit worldwide. The literacy ratio of the country is also higher, which generates a healthy culture for visitors.

Weaknesses:

  • There is a need for more improved roads, transport infrastructure because it has negative effect on traveller’s experience. The National Tourism Infrastructure Assessment, 2017 highlights on the need of better road infrastructure, international and national air connectivity and accommodation related facilities to have positive impact on the country’s tourism. These weaknesses will be considered as barriers in the path towards promoting the tourism products in Nepal.
  • Staffing and finding skilled labours have become an issue for the tourism industry of New Zealand because the industry is dependent on the migrant workers in food service and accommodation related sectors (Hollensen, 2015).
  • The tourism industry of New Zealand also is struggling to meet roles with less local population and spread in open area. Also, the country is geographically isolated and over the last decade the country has faced a range of atmospheric, geological, biological risks which have affected tourism flows.

Opportunities:

  • • High profile accommodation service with destination holiday packages can increase trip numbers and this will be proven as a successful component in grabbing attention of Nepal tourism.
  • • Most of the tourist destinations are nature areas so while introducing more adventurous activities such as whale watching, sightseeing, hiking and bungee jumping (Lane & Dieterlen, 2018).
  • • Privatization in the tourism industry can hike the visitors because private travel agencies expend more on modernizing and taking care of already existed infrastructure & accommodation, promote cultural activities and events in order to enhance the touristic services.

Threats:

  • In New Zealand, uncertainty of natural disasters such as earthquakes, volcano eruptions directly impacts the tourism industry (Lee, Barker & Mouasher, 2013). The deterioration of harbour and roads, highways impacts the tourist income.
  • Tourism in New Zealand is known as seasonal tourism destination, though visitors in different age groups prefer to different seasonal patterns. Holidaymakers from different countries prefer to visit in summer season and this affects the business in other seasons.
  • Terrorism and pollution are the common, but not avoidable, threats which impact all the industries worldwide.
  • Australian tourism industry has arisen as a competitive market and this cut in visitors is affecting the tourism market of New Zealand.

PESTEL analysis
Here is the PESTLE analysis of New Zealand, where the entire political, social, economical, technological, legal and environmental factors have been discussed in details. The negative and positive aspects of all these factors have been mentioned so that it becomes easy to make a tourism strategy in order to maximise the opportunities and try to reduce the risk factors.

Here is the PESTLE analysis of New Zealand, where the entire political, social, economical, technological, legal and environmental factors have been discussed in details. The negative and positive aspects of all these factors have been mentioned so that it becomes easy to make a tourism strategy in order to maximise the opportunities and try to reduce the risk factors.

Political factors: For any business it is important that political system, economic stability, law and order situation are favourable. This helps in providing economic strength to the tourism sector. The main political parties are National Party and Labour Party. The former is conservative while the later is left leaning. In New Zealand the political factor is in favour because there is a strong government at the centre. The rules and regulations are quite strict. Elections are held in three years, thus the government changes after every three year, which further affects the tourism industry. The labour laws are strict here. As discussed in this marketing plan analysis favourable governing system will be proven as an empirical element in promoting the tourism products in Nepal. The entire political system is strong. If we evaluate all the above factors then there is a mixed analysis- a strong government at the centre would be favourable for the Adventure Company Australia but at the same time strict labour laws might be a problem.

Economical factors: Over the years, international trade has proven to be the backbone of the New Zealand economy. The economic situation of the country is quite good especially when one compares its per capita income to that of other countries (Nunan & Di Domenico, 2013). With a considerably low unemployment and lesser inflation rate, there are positive incline in the GDP and economy as a whole. The population of the country is 6-7 million and all the resources are available here in abundance. There is a continuous circulation of money in terms of the purchase of capital goods. The government sending is also increasing continuously since 2008. Considering all these factors, it would be beneficial to setup the promotion and marketing plan for promoting the tourism products in Nepal.

Social factors: The life standard of the New Zealand people is quite decent. Here we find a balance between the work time and social fun. Thus life here is not much stressed. In fact it is generally believed that people of New Zealand are hard working. One of the most important factors that attract the tourism is that there is a vast cultural diversity present across the entire region. There are many cultural variations when one moves from urban to rural areas. Then one more beneficial thing for the company here would be its food and wine- basically the life style of New Zealand. It offers world class food and wine (Vellas, 2016). There are many holy places to visit here. There is a church in Hokang area named as ST Marys Church, it is a catholic church and it manages to attract a lot many visitors annually. Another major attraction of the region is its Mouri culture (mainly the mouri arts). In many a places, they allow the visitors to visit their schools and experience their work of weaving and carving closely. These all of the above mentioned attractions are the prime features of the tourism products of the New Zealand and will be successfully promoted by making use of this marketing plan.

Technological factors:The main factor as this marketing plan analysis in this regard would be the high level infrastructure. The government of New Zealand invests highly on the infrastructure. There are world class air network and road transportation which is a positive factor to setup a tourism company in the region. It is highly feasible to visit the areas of interest. New Zealand is one of the first country to move towards sustainable sources of energy be it biogas or wave energy technology (Liu & Chou, 2016). If the technological factor is to be considered it is easy to setup any kind of company in that region.

Ecological factors: The crucial factor which supports the tourism industry in New Zealand is its biodiversity. Tourism contributes a big amount to the economy of the country. There are approx 2.9 million visitors every year and this will associate to 9.2% of the GDP. In fact the tourism sectors contribute to 18% export earnings of the country. The major factor behind this development is the ecotourism of the region. The green image of the country has a lot to do with this success and at the same time encourages green growth. According to a survey it has been found out that American visitors adds up NZ$450 to New Zealand’s economy every year. Thus focusing on ecotourism might help the company. On a trip to New Zealand, the tourists who come here for the nature can stay longer than any other average tourist and mostly are the ones who spend more.

Legal factors: It is generally observed that many countries boost the taxes in order to meet the budget deficit; this is not the case with New Zealand. The taxes are quite simple here. The record of number of human rights violations have been quite law. The law and order is strict. Thus tourists favour the place for safety reasons also (Mason, 2015). Thus this factor also gives positive indications to setup Tourism Company here.

Marketing analysis
Basically, marketing analysis is a detailed study of all the dimensions of market. It is generally a formulation of business plan so that there is certainty regarding the market in which one is investing or operating (Ateljevic & Page, 2017). There are many factors which come under this. The various factors are market size, growth rate, market trends etc.

Marketing strategy
Adventure Company Australia will be using various form of communication for its marketing strategy. The very first step would be creating an internet site for itself. The main reason for this is that in the age of social media, the demographic of the company will rely on the internet site. It also becomes essential to improvise the site continuously and resources have to be spent on that also. The site has to be tested from time to time, upgrading the keywords so that it appears as the top result on the search engine.

Then there will also be advertising through the magazines and mainly targeting those magazines which has maximum readership. This helps in promoting viewership. And once, when a loyal customer base gets established, then the regular updates can be sent via text messages or email. Then special offers could be given to select customers. The main purpose in this marketing plan analysis would be to attract more and more customers; be it new or old. A healthy relationship would be build with the customers in this manner which lasts for a very long term. Adventure Company Australia will try to capture every tourist spot of New Zealand. The main aim would be to become the best travel agency of its kind.

Mission
The main mission of the company would be of providing best services to the customers and make a memorable experience for them which lasts a lifetime. The quality of outdoor adventure would be the priority of the company. The main purpose of the company is to attract more and more customers and maintain it at the same time. When this purpose would be served, rest is an easy task.

Marketing objectives
The main objective would obviously be of having a steady growth, there should be a double digit growth. More and more costumers should keep on adding and formation of a loyal customer base for the long run. And the final objective would be to have recognition in the market as one of the best company of its kind which provides fun trips.

Financial objectives: The main financial objective would to have a double digit growth every year. With the help of disciplined growth, there should be a reduction of fixed overhead. As the business expands, there should be a continuous reduction in the variable costs which is associated with the production of the trip.

Target marketing
Adventure Company Australia will target mainly two groups of costumers as follows:

First group of customers will involve people with high income and those who are quite conscious about their health. This group of people mainly comprise of professionals with plenty of money. This is the group of people who work really hard for the whole year, but whenever they go for vacations, they are ready to spend big amount. The average income of this group is $75000. So here, people are ready to spend more money in order to get a perfect vacation.

Second group would comprise of people who are quite younger than the former. These are also wealthy but the difference here is that they do not earn but have rich parents. These young people are small in population and their demands are different than the other group. Their main target is not personalized attention; rather they prefer an adventurous trip. They mainly like to go for active cities because they provide with more adventurous activities. They prefer outdoor activities over any museum or holy place. Their main target is to push themselves physically and as well as their money. The requirements regarding production would be different in this case.

Positioning
Adventure Company Australia will aim at presenting itself different from various companies of its kind. It will present itself as a luxury service provider and adventurous travel company. The prices will be in synchronization with the services provided.

The line of competition would be drawn on the basis of hard adventure sports which the company provides at an affordable price. The budget should ensure all the needs of the typical travellers. All the major service providers give special attention to these people. Adventure Company Australia will also provide all the same facilities given by rest of the companies but it will try to make all those services exclusives. The stay would be at the luxury hotels. Meals would be nutritional and exceptional at the same time. Main focus would be on the adventurous activities, the client should get exclusive access to everything like river. The company is aware of the fact that there are targeting rich people, budget is not a big issue. The main aim is to provide a memorable trip and expand its loyal customer base so that they decide to make it an annual thing.

Marketing Mix Strategy
Products: There will four different kinds of packages which will differ from each other on the basis of price, accommodation and many other things.

First package will be of 85000 per person including the taxes. It will involve facilities like accommodation, transportation and meals.

Third package will also be known as luxurious package which will cost 130000. It will involve accommodation, transportation, meals and free passes for sightseeing of Auckland city, separate vehicle, luxury rooms.

Fourth package would be customizing package.

Place: Now various packages differ from each other on the basis of destination as well as price of the trip.

First package will be of 95000 per person, it will be of 3 nights 4 days and the places covered will be Auckland, Hamilton, Rotorua and Willington

Second package will be of 110000 per person and it will be of 4 nights and 5 days. The places covered in this will be Lake Taupo Taranki and Hawke Bay

Third package will be of 130000per person and the tax included. It will be of 5 nights and 6 days. Places covered will be East Land, Christchurch and West Coast

Price: The pricing strategy would totally be dependent upon the market. There will be a huge competition when it comes to price (Kim & Hyun, 2011). The primary aspect of the strategy would be that it should be affordable and it should not frighten away the customers from the prices itself. The prices should be affordable and according to the services provided. At the end of the customer should be satisfied by the services of Adventure Company Australia. The main aim should be to match the cost structure of the company which includes the salaries of the employees. Once a loyal customer base is formed than double digit growth is assured.

Promotion: The main purpose of the promotion strategy is that the customer should be aware that Adventure Company Australia exists. Also the promotion should be done in such a manner that the right information is available to the customer. The product should be good on paper as well as in reality (Pabel & Prideaux, 2016). Promotion has become very easy in the age of social media. One can target many customers with the help of Google ads or through various social media handles.

Advertising
Advertising plays an important role for any business. In this case, advertisement should be done by the sources like trade and industry publications which has large readership. It is read by tourist as well as local residents (Xiang, Wang, O’Leary & Fesenmaier, 2015). Advertising is a continuous process. The information regarding the company should be out there in special editions of newspapers from time to time. If there are regular advertisements in the local newspaper, it will create a brand value for the product. Adventure Company Australia will also be advertised through brochures which must be made by professionals. The desired piece of literature should convey the right information to the customers. Instead of brochures, it can be anything like a magazine or local daily, the only condition is that it shall convey right mad complete information about the product. The main aim of these literatures is that it shall be successful in communicating to the targeted audience. This should also be taken care about that these information is available at strategic points and must cater to the targeted audience. Thus the plan would be to build up innovative posters and put them at specific places where the service is provided like hotels, airports and lodges.

Personal selling
One of the best ways to get the customer feedback is face to face confrontation. It also acts as a powerful medium to promote the product. It provides the company the access to get instant views of customers regarding the product (Roberts, L., Hall & Morag, 2017). The company can make suitable changes in the package as per the customer demands. New places can be added, more adventurous stuff can be added as per the requirement of the younger generation. This also provides the customer with precise information of what the company is offering. One of the major factors which justify the need of personal selling is that the company is relatively new in the market. People are not much aware about the company (Bowie, Buttle, Brookes & Mariussen, 2016). Personal selling can prove to be an influential medium of promotion if it is executed in a good way by hiring professional with good communication skills. It provides the opportunity to target a much wider range of customers. If the managers go personally and advertise the package which they are offering, it is crucial as the company is relatively new in the business. Thus personal selling can be utilized as an affective medium of marketing strategy for nay start-up business.

Indirect marketing
Demand for internet is increasing day by day as we use it for each and every small need of ours. So is the growth of internet is expanding as its use is increasing. Internet these days is used as a source which provides us an opportunity through which we may utilize. This is mainly because of the growing distribution of information over the World Wide Web, as we as individuals and groups see it as a resource for obtaining the best deal possible. Internet is not only used to obtain information needed rather it is used because it saves one’s time without being biased (Pike, 2015). Moreover it is certain that it needs adequate planning so that it is safeguarded that the information provided in the website is authentic, up-to-date and true to fortify we market a professional image amongst our clients. This will mainly serve for foreign tourists and others who are interested. In all we are trying to commute our ability to provide a good service which can satisfy our client’s needs (Rogers & Davidson, 2015). Hence these messages will stimulus the appointment decision of probable clients that we are something different from our competitors. All the above advertising tools shall be well incorporated and employed in tandem so that their effect may be maximized.

Direct marketing
As compared to all other mediums the scope of direct marketing is often limited. But this can prove too effective in the case of new firm like Adventure Company Australia. This kind of marketing often consists of telemarketing mainly. This involves direct engagement with the potential clients (Buhalis & Foerste, 2015). This also includes obtaining referrals wherever it is possible. Actually telemarketing is targeting the potential clients or customers and gives them a detailed analysis and preview of the company, what it is offering and leave an effective mark about the existence of the company. After this, a detailed meeting is normally held with the respective decision maker of the company and inform about the output and how it can be used for the further betterment of the firm.

Financial forecasts
The below presented portion in the marketing plan analysis are the financial stats that are estimated and presented in tabular formats for Adventure Company Australia (Hope & Fraser, 2013). These stats are combinations of all the expenses incurred during the overall marketing plan.

Set-up costs

Media and Budget planning for 2019-2022

Resource

Amount ($)

Miscellaneous Expenses

3,500.00

Depreciation

80,115.00

Equipment’s

895000

Salaries

515,506.00

Rent

41,551.00

Total

1535672

Balance sheet forecast

Balance Sheet

Amount ($)

Assets

2019

2020

2021

2022

Current

$211,400

$327,670

$540,656

$973,180

Fixed

$450,000

$580,000

$695,000

$970,000

Other assets

$10,000

$55,000

$65,000

$80,000

Total Assets

$671,400

$962,670

$1,300,656

$2,023,180

Liabilities

 

 

 

 

 

 

 

 

 

Non-Current (Borrowings)

$150,000

$55,001

$65,002

$70,003

Total Liabilities

$150,000

$55,001

$65,002

$70,003

 

 

 

 

 

Equity

$521,400

$907,669

$1,235,654

$1,953,177

Total Liabilities & Equity

$671,400

$962,670

$1,300,656

$2,023,180

Break even analysis
Sales = $440,000
Launch Cost- $7.0
Variable cost –3.5
Marketing Cost 1.0
Assumption- Fixed cost = Marketing cost+ Launch Cost
          = $6,310.13+ $70000
          =$76,310.13

Break Even Point = Fixed cost/Contribution per unit
          = $76,310.13/$8.0t
         = $9,538.77

Conclusion
On the basis of the above presented analysis in this marketing plan analysis it can be inferred that the concluded idea of Adventure Company Australia is feasible as people are keen for visiting New Zealand. The social and political situations of the country are also suitable for the business. People are fond of travelling internationally and in this case the government policies of the country are also in our favour. Initially the business can be started on a small scale, make a loyal customer base, them it can be expanded and a double digit growth can also be achieved. There is huge scope in tourism sector as discussed in this marketing plan analysis. New Zealand provide good environment for this business. Marketing plan assignments are being prepared by our marketing assignment help online experts from top universities which let us to provide you a reliable university homework help service.

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