Executive Summary
GPV Enterprise was formed February 2009 to provide travel arrangements that include airline, hotel, car and vacation packages to prospective clients. GPV also plans events such as family reunions and tours. The founders of GPV are Marissa and Anthony Gilbert. Both founders have their MBAs and are passionate about GPV Enterprise.
An opportunity for GPV’s success exists because the national tourism and travel industry is growing annually. Further, the Nashville travel market is growing at an alarming rate and has no providers who specialize in travel and event planning. GPV is destined to take advantage of this growth and lack of competition with a competent team. GPVs target market is an exploitable niche and GPV will provide a specialized and thus differentiated service. Prices will be competitive with rest of the market. The company's estimated sales for the first year of operations is $155,607, increasing 10% annually for the next two years.
The U.S. travel and tourism industry are one of the top largest in the retail industry. Revenues from travel have increased a lot in the last ten years with U.S. travel agencies producing over $700 billion in revenues each year. GPV is a segment of the travel and tourism industry, which is growing at least over 10% per year.
GPV will provide moderate to luxury service with high value. Our prices will be fit any travelers needs. Service will be priced based on competitor prices and the value added to our offering. We are competitively priced in the travel market. GPV will be able to capture a high gross profit margin.
Positioning
GPV will position itself as a distinguished provider of travel and event planning, and will price themselves accordingly within the chosen service niche. GPV positioning will leverage their competitive edge. The modest edge in the services GPV offers is the access to all customers in the Nashville area within their budgets. GPV Enterprise intends to use the same service providers as most companies but provides additional services. Accommodations will be in all different types of hotels and resorts.
GPV's competitive edge is customer attention and customer service. GPV has the expertise to provide close personal attention to the clients. This is the level of service expected when people plan to travel, and GPV intends to exceed the customers’ expectations.
Mission Statement
GPV Enterprise’s mission is to provide the customers with the highest quality travel and event planning experience. We exist to attract and preserve customers. When we live up to this mission, all experiences will be one to remember.
Competitors
The competitors in this market do not offer event planning. There are agencies that provide cruise only vacations or air, hotel, and car. They typically serve clients who only want certain things. Their strength is their expertise in a particular area of travel. Their weakness is that they provide only a portion of travel in the field. The majority of companies are not capable of providing the resources to provide one stop travel shopping.
SWOT Analysis
GPV’s main strength is the dedication of management. GPV will benefit from this strength by taking advantage of opportunities and managing threats.
Strengths
GPV's owners have several years’ experience in the travel industry. Their network of business connections will add to the success of GPV.
GPV will be centrally located. Nashville is a growing metropolitan city with businesses opening up daily. These people are the prime target for business.
Weaknesses
GPV is a new company and is providing something a little different. New start up companies has to build clientele.
GPV is in a good cash position at the time, but things can happen, or sales will not be good that can cause cash problems.
Opportunity
The travel industry is a market that is growing annually. GPV is in the position to capitalize on travel and be a part of the growth.
The services that GPV offers gives the change to produce a quality service.
Add additional locations in other high business areas.
Threats
The Internet gives customers the opportunity to plan their trips themselves. This makes it hard for agencies to compete for business.
There are no agencies in the Nashville area that combine travel and event planning. The other full service agencies in Nashville may decide to follow GPV’s lead.
Marketing Segment
GPV Enterprise vacations and events are a specialized product, and knowledge of these services is necessary. Customers usually need help in determining the location they want to travel. The major benefit of a travel agency is their knowledge about the destinations they offer. Customers expect the agency to provide them with sound advice for a competitive price. GPV is confident in its ability to do so. GPV can save the customer time and money, and help to ensure that they are satisfied with their vacation or their event.
GPV believes that the goal of business is to create and keep customers. Its marketing strategy will definitely reflect this goal as it builds its reputation in Nashville. GPV operates in the travel industry. However, the experience is much more. GPV provides fun and new beginnings. GPV’s customers are hardworking people who deserve to enjoy themselves. GPV makes unforgettable memories for people that will last a life time. GPV promotes the benefits of travel and event planning with a great deal of care. These benefits include prices for all types of budgets, exciting destinations, and fun. GPV Enterprise lives up to what their mission states. They save the customer time, money and an unforgettable vacation or event.
Target Market
GPV customers will be anyone that needs travel arrangements or plan an event. Basically, since GPV is a full service agency, there will be little control over who we actually target. There is an increasing number of people are moving to Nashville and the surrounding areas who are business travelers. Since GPV is located in a prime downtown location, our focus will be on the businesses in the area. Also, these businesses often have events that they sponsor, and they are a target for the event planning side of GPV.
Marketing Mix
GPV’s pricing will be determined by the current market standards. GPV will maintain the margins on all of their products and services. There will be a competitive price policy that will be put into effect. As GPV grows their business, there will be a change in pricing strategy to keep up with the growing economy.
GPV will hold special events to announce their opening. GPV will give away some vacation trips and hotel stays to people who will attend. GPV will negotiate travel deals with customers and businesses in their area. Once they open, GPV will run ads in the local newspaper and radio stations with a huge target market.
Financials
GPV’s marketing budget for the first is taken from the start-up investment. The marketing budget will be assessed on a quarterly basis. GPV will evaluate the budget at the end of the year and make the needed adjustments for the upcoming year. The issues that are significant to GPV’s marketing success is to interact with customers in Nashville and surrounding areas to gain their business. GPV will conserve resources to stay within budget until they see a 20 percent profit.
