International Marketing planning

Many entrepreneurs and small to medium sized businesses write an initial business plan, often for start-up funding, but after this, regular planning and objective setting can take a back seat to the operational demands of the day to day running of the establishment. I conducted some marketing research for a business travel management company in London which seemed to have lost its way. The firm provided the business travel booking services and travel management for organisations. They could offer good discounts on hotels and flights and specialised in crisis management (repatriation of staff to their home countries in a disaster).

The two founders told me that they started the business because they had the skills from doing the same job for another company. The true reason they set up the organisation was because they both wanted a sports car! That only took a few years, but then they bumbled along for eight years riding a buoyant economy. It was only when sales slowed, that they realised they didn’t have a clear idea of what to do with the company. Without marketing objectives, they were also aware that competitors were taking advantage by grabbing market share through their competitive strategies. The Sales Director told me that she was becoming frustrated with the lack of ambition and targets and was thinking of leaving. It was clear that planning and objective setting was required to save the business and their key member of staff.

Task

Step 1

Following your reading on the preceding topic, please take time to answer the following question referring to appropriate theory and using in-text Harvard referencing:

Question:

What is more to blame for the business travel management company’s current challenges: the lack of strategic objectives or the lack of marketing objectives?