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Marketing

STRATEGIES REJECTED
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.
Segmentation
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 some other segments to a greater variety of passengers, which may then lead to increased market share and revenue. We have found that the current segment is far too narrow and complex. SGC may want to try and market more to the upper-middle class or middle class portion of the population. In addition to this rejected strategy, it is important that SGC does not oversegment in their efforts to improve the company. Oversegmentation is extremely expensive and a majority of segments do not have the financial abilities it takes to enjoy a Sea Goddess cruise. Also, the current facilities are very limited, considering SGC only employs to ships.
Advertising
A second strategy that has been rejected is one concerned with the consumer awareness of SGC. Currently, SGC is only advertising to travel agencies. Coupled with segmentation, SGC's current advertising strategy has hurt SGC in the sense that consumer awareness is considerably low. Only a small portion of the population even knows that Sea Goddess exists. SGC is only targeting those who travel frequently. They may want to target the portion of the population that wants to travel, but is unsure of where to go or what to do. In order for SGC to reach the consumer, new efforts must be made in the advertising plan. Mere travel...