Product groups

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There are many different prices within Carrick travel because they have many different products but also within the product groups they have a wide range of price. This is important because some people are not as rich as other people so they can’t afford the same holidays. Which means if they did not have the different prices then they would lose customers which would affect their annual turnover and they could go broke. The prices of holidays range from the hundreds of pounds to thousands of pounds. Carrick travels have to research what prices they choose for their prices. When they are researching their prices they have to look at their competitors prices and ask potential customers what they think a respectable price would be.

Product

Carrick travels have many different products ranging from holidays to exchange rates. The holiday products also range from the highly rated holidays to the lower rated ones. They have lots of different products so that they appeal to a wider audience and then they get a greater annual turnover. Currency exchange is a good idea for a product because people always need to change their currency when they are going to a different country. This is a good way to make people give you more money because somewhere they have to change their currency and they can just do it in the Carrick travel stores. When a customer does change their currency in store then Carrick travel take a percentage of currency changed.

Place

Carrick stores are all close to each other for better communication this is important because if they were all far away from each other then it would be hard to understand what is happening at each individual store and may lose out because it takes time to communicate to a good standard if they are not close to each other then they cannot the mangers can’t travel from shop to shop as easily as if they were close. They are also placed in the midlands which are in the middle of the market of Britain so the people from the south are quite close and it is the same for the people in the north. All of the Carrick travel stores are in affluent areas so that more of the town can afford the products they sell. This is important to Carrick because this is how they keep in profit and carry on selling their products.

Promotion

Carrick travel mainly promotes using posters and leaflets. They do not have enough money to invest in commercial advertising. They will advertise in the areas surrounding their stores so that the right people see the advertisements. It is very important that Carrick travel advertise their products and offers because then they can get more customers into their stores and therefore gain more income allowing them to grow and maybe advertise in different areas such as local radio stations. Carrick Travel has recently bought advertising space in Warwickshire Life, a ‘coffee table’ magazine which has already proven successful.

They also need to research the best places for them to advertise because if they advertise in the wrong places in would just be a pointless investment and they would lose lots of money with no gain. If they are going to advertise in magazines they have to make sure they do it in the right ones. They would not want to advertise in the children’s magazines because children are not their target audience. If they were to advertise to children it would be a waste of money. To evaluate I believe that Carrick travel are competing to a very high standard you can see this from the prestigious awards they have won recently. These rewards show the quality of how well Carrick are competing and is very well. It is important that Carrick travel regularly internally evaluate how well they are competing.

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