Cox & Kings Marketing Strategy – Marketing Strategy of Cox & Kings: Cox & Kings, a travel and tourism company was established in 1758. It has been a major player in the industry ever since. It operates in four business segments, namely Leisure – India, Leisure- International, and Education.
It is an Indian company that is listed on Indian bourses. However, it has strong roots in the UK. More than half its staff are based in the UK. This has allowed the company to travel more than 5 lakh children to the UK in FY 2015-16.
Cox & Kings At A Glance – Marketing Strategy of Cox & Kings
Company : Cox & Kings Ltd
CEO: Urrshila Kerkar
Founder: Richard Cox
Headquarters: Mumbai, Maharashtra, India
Annual Revenue: US$282 million
Profit | Net income: US$14 million
Number of employees : 3,703
Products & Services: Leisure, Education and Hybrid Hotels
Cox & Kings Competitors
Competitors: Weizmann Forex | Thomas Cook India | Abercrombie & Kent USA, LLC. | Flight Centre Travel Group | APT – Australian Pacific Touri | TUI Group | ICE | Helloworld
Cox & Kings Fun Facts: During the First World War Cox & Co. was known as ‘Uncle Cox’, the company even featuring in popular music hall song The Young Man with the Cox’s Cheque.
Marketing Strategy of Cox & Kings
Cox & Kings’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Cox & Kings? Let us discuss.
Segmentation, Targeting, Positioning – Cox & Kings Marketing Strategy
Cox & King’s group is based on geographical & segmentation variables to better understand the purposes of each individual and provide its services accordingly.
Cox & Kings uses the Differentiated Targeting strategy to meet the needs of different customers.
Cox & Kings has positioned itself based on a mix of product class & value-based positioning strategies. Customers looking for travel services seek value-for-money deals.
Cox & Kings Mission Statement
“Passion for Excellence”
Cox & Kings Vision Statement
Cox & Kings Tagline
“Over 250 Years of Discovery”
Competitive Advantage – Marketing Strategy of Cox & Kings
Strong presence: Although the Company is based in India, more than half its staff are based in the UK and European Markets. This allows the company to assist its customers overseas and streamline its operations by establishing more tie-ups with other countries.
Leader in outdoor/ experimental learning: Cox & Kings sees education as an integral part of every person’s life. They are looking to exploit this chance to expand their operations in developed countries around the world. Cox & Kings is the market leader for both the Primary and Secondary schools segment in the UK.
Strategic consolidation: In the year 206 Cox & Kings Ltd sold LateRooms Group UK Ltd. (Holidaybreak Ltd.) and then later bought 49% of Malvern Enterprises UK Ltd. to consolidate its international operations and to be more focused on its business.
BCG Matrix – Cox & Kings Marketing Strategy
BCG matrix allows you to understand the competitive position of your company in the industry/ market it operates.
Cox & Kings operates in four business segments: Leisure – India and Leisure – International as well as Education and Meininger.
Each of these businesses is Stars in BCG’s matrix.
Distribution Strategy – Marketing Strategy of Cox & Kings
Cox & Kings has operations in over 23 countries. In India, it is present 150+ cities and distributes its products & services through 240+ points of presence, 13 stores, 140+ franchisees, and 100+ sales agents offering the best deals on hotels and airlines to customers.
The emerging markets of Tier II and III cities make franchise models the best method for expansion.
Brand equity – Cox & Kings Marketing Strategy
Over the past year, the brand was awarded numerous awards and accolades, including Best Luxury Holiday & Tour Operator 2016, Luxury Tour operator sector – SIGNUM VIRTUTIS, and the Seal of Excellence 2015.
It has achieved high brand recall with extensive domain expertise. This includes packages of luxurious vacations, tours and travel, destination functions, experiential learning, and packaged luxury vacations.
Competitive Analysis – Cox & Kings Marketing Strategy
Cox and Kings are overcrowded in the industry they operate. There are many local, national, and global players. The industry’s vulnerability is its lack of entry and exit barriers. Cox & kings compete against companies such as Make my trip, Thomas Cook and Yatra.
Cox and Kings’ experience of over 250 years and their global reach is what allows the brand to stay ahead of its competition.
Market Analysis – Marketing Strategy of Cox & Kings
Cox & Kings faces many challenges in the industry they operate in, including rising inflation, improved lifestyle and government regulations, labor cost and political stability, as well as competition from other companies.
Companies in the industry can target tourist destinations and developed nations. The industry’s major revenue contributors have developed economies and tourist destinations.
Customer Analysis – Cox & Kings Marketing Strategy
Customers of Cox & Kings are the people of upper-middle & upper-income social groups who love to travel to national/international locations to spend some leisure time and travel to distant locations to explore the places. The majority of our customers are between 25 and 40 years old.
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