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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 mono segmenting. 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 over segment in their efforts to improve the company.
Over segmentation 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. 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 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 ship that only holds 119 other guests. A package had also been discussed to fit into the spring break period for college and high school students, but was rejected for a number of reasons. Due to the expense of a Sea Goddess cruise, it is reasonable to assume that a majority of college and high school students would have the financial capabilities to go on the cruise. Also, traditional Spring Break activities have included going to such locales as Cancun, Florida, etc.
It would be extremely tough for any cruise line, much less Sea Goddess, to tap into this market. Thirdly, college and high school students have been known to be a little more disorderly than traditional Sea Goddess passengers, which may make the ships subject to damage. This damage could be a serious set back if the ships have to be temporarily shut down. Lastly, providing a Spring Break promotion could possibly damage the reputation of Sea Goddess Cruises.
If wealthy, potential passengers see this cruise as a Spring Break cruise; it could compromise the luxury and lavishness of the cruise. Currently, Sea Goddess Cruises is alone in a business sense. They are not associated or affiliated with any larger cruise lines. It may be lucrative or profitable for Sea Goddess to lose this autonomy.
SGC should attempt to merge with a larger company, such as Carnival. A larger company might want to adopt SGC as a smaller, little sister type of company. This could boost customer awareness greatly. For example, if a couple is looking to take an expensive, private cruise, they may look to Carnival. Carnival Cruise Lines or the travel agent may view Sea Goddess as more fitting for this couple.
They could recommend to the couple they might be more suited for a Sea Goddess cruise. The relationship could be reciprocal, because Sea Goddess or a travel agent could, in return, refer a family of six to a Carnival cruise. They could also cooperate together in advertising schemes. As you can see, Sea Goddess needs to undergo some major changes. These changes could help lead to a more positive business image.
The strategies that have been rejected in this report will help lead SGC to increased profits and customer awareness. Bibliography:
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