Marketing Audit and Strategic Analysis of City Relay Case Study

Evaluating City Relay’s Strengths, Challenges, and Market Opportunities

Introduction

Tourism Marketing is a Tool and Technique, which is used to promote the tourist destination, attract more tourists, offer inclusive services in terms of hospitality, and satisfy the psychological needs and wants of the visitors (Letunovska, Kwilinskiand Kaminska, 2020). Tourism marketing consists of the brand value of the Tourism destination, Segmentation of the Tourism Market, Brand Positioning of the Tourism destination, development of effective and influencing content for digital marketing, and building strong relationships with its ideal customers (Panasiuk, 2021).

Whereas, Marketing Audit helps the companies to know their strengths and weaknesses in terms of their marketing efforts and helps to make strategic planning to improve the overall performance of the company (Zyma, et.al. 2019). This report will begin with introducing the case company “City Relay”, further the study will give emphasis on Internal and External factors, that affect the performance of “City Relay” and provide a framework to know more about its ideal customer needs and wants, the study will give insight into how internal and external factors drive future opportunities and threats, this report also covers the importance of ethics into a tourism business, and lastly the study will be followed by some recommendations to overcome from the challenges faced by City Relay to improve its future course of development.

The prime objective of this report is to do a market analysis based on its marketing audit and know the Strengths and weaknesses of City Relay. This analytical report will help to build an in-depth understanding of Tourism Marketing Principles, and how effective marketing audits lead to more business for City Relay.

Company Background

The background of the company

City Relay is a London-based enterprise that provides management services for short-term rental tenants and landlords. The start-up was founded in 2015 to provide landlords with a hassle-free experience in renting out properties in London, while also offering visitors a unique and memorable stay. The enterprise has experienced rapid growth since its inception and presently manages a portfolio of over 1,000 residential properties located in London.

Figure 1: City relay logo

The brief introduction of the company's services

City Relay is committed to providing its customers with excellent service and continuously seeks opportunities to improve it. The enterprise, which specializes in managing short-term rentals in London, has garnered significant feedback from both hosts and guests. It is regarded as one of the top firms in this field. City Relay is a company that is dedicated to providing expert management services for short-term rentals in London. The enterprise has established a robust standing in the industry under its unwavering commitment to its clientele and distinctive methodology towards the domain. City Relay provides a range of services, including the sale of properties on multiple online platforms, as well as cleaning, laundry, and maintenance services. Furthermore, the enterprise offers guest amenities such as concierge services, round-the-clock assistance, and tailored check-in procedures.

External Analysis

The identification of customers/consumers and analysis of their needs

The microenvironment encompasses the internal factors that impact a company's operations, including its workforce, suppliers, and ri vals (Hakeem, and Khan, 2018). Conversely, the phrase "macro environment" pertains to external factors that may exert influence on a firm's activities, including but not limited to economic conditions, regulatory framework, and technological advancements. The identification and analysis of customer/consumer demands are crucial components of both micro and macro environments. To ensure high-quality service delivery and customer satisfaction, City Relay must have a comprehensive understanding of the needs and preferences of its clients within the micro-environment. To identify trends and patterns in consumer behavior, it is necessary to conduct market research and analyze customer data (Saura, Palos-Sanchez, and Rios Martin, 2018). City Relay can engage with its clientele using reviews and feedback, to gain a deeper comprehension of their requirements and make appropriate modifications to its services. City Relay is required to analyze the macro-level factors that influence consumer demands and preferences. This involves considering variables such as changing demographics, economic challenges, and advancements in technology.

Analysis of competitive situation by using City Relay’s Future Opportunities and Threats

• Comprehending the trends and advancements in the industry holds paramount importance in identifying prospective opportunities and hazards for City Relay in the forthcoming times. This involves analyzing factors such as evolving consumer preferences, the emergence of novel technologies, and alterations in the competitive landscape (Morrison and Maxim, 2021).
• The economic conditions, such as recessions, inflation, and interest rates, can exert a substantial influence on the travel industry and, consequently, on the operations of City Relay's firm.
• The dynamic nature of the regulatory environment poses a challenge for enterprises that oversee short-term rentals, as the regulatory framework is subject to frequent modifications.
• The rapid pace of technological progress presents City Relay with potential benefits and risks. The integration of blockchain and artificial intelligence (AI) has the potential to significantly transform the industry, while also presenting a challenge to conventional business practices (Imoize, et.al. 2021).
• Environmental concerns are increasingly impacting the travel industry, with issues such as tourism and climate change being particularly salient. It is imperative to consider these matters, and City Relay should strive to enhance sustainable transportation approaches.

In a broader sense, both the micro and macro environments must consider the requisites and inclinations of customers and consumers. By conducting thorough analyses of customer behavior and adapting to changing market trends, City Relay has the potential to become a trailblazer in the short-term rental management industry and capitalize on new opportunities for expansion and growth.

Internal Analysis

Analysing the "Strengths & Weaknesses to meet the needs of its customers

Strengths

Weaknesses

City Relay has developed innovative software that allows for the real-time monitoring and analysis of customer feedback, facilitating prompt adjustments to its services in response to customer demands. City Relay boasts a substantial and proficient workforce comprising experts who are dedicated to providing customers with top-notch services. City Relay has garnered a positive standing within the London market and has been the recipient of various industry accolades in recognition of its exceptional customer service (GURL, 2017). City Relay offers a diverse range of services, providing comprehensive solutions for both property owners and visitors.

City Relay's reliance on third-party networks is primarily for property listings and bookings. City Relay's dependence on the London market may pose challenges for the company's expansion into new markets or adaptation to evolving consumer preferences beyond London. City Relay's current geographic coverage is limited to London, which restricts its ability to expand its consumer base. City Relay's management primarily focuses on high-end properties, which may constrain its ability to attract guests seeking more affordable accommodations due to the limited selection of properties.

An internal analysis focusing on the organisation's capability

An internal analysis of City Relay's capacity to meet the needs of its consumers would primarily center on the evaluation of the company's internal resources and operations, including its strengths and weaknesses. City Relay leverages advanced technology to enhance pricing, occupancy rates, and customer satisfaction, thereby establishing a distinctive edge in meeting the demands of its clientele. The company has developed exclusive software that facilitates the real-time monitoring and analysis of customer feedback, thereby enhancing its service quality and enabling prompt response to customer demands.

Furthermore, City Relay boasts a substantial and proficient team of specialists who are dedicated to providing customers with exceptional services. The aforementioned individuals, ly property managers, customer service representatives, and maintenance staff members, work in conjunction to ensure that patrons are provided with a satisfactory experience throughout their stay (McDonald, and Bailly, 2017).

Nevertheless, City Relay exhibits certain limitations that may impede its ability to fulfill the requirements of its customers. The business is heavily reliant on third-party systems for listing and booking properties. This may potentially pose challenges for the business in terms of effectively managing the customer experience and implementing prompt service modifications.

One potential weakness of City Relay's strategy for commercial growth is its dependence on the London market. Despite the positive reputation of the business in the London market, expanding into other regions or adapting to changing consumer preferences beyond London may present challenges. City Relay could potentially focus on developing a proprietary platform for real estate listings and reservations (Hair, Page, and Brunsveld, 2019).

This approach would grant the business greater autonomy over the visitor experience, thereby mitigating the aforementioned constraints. To broaden its revenue streams and reduce its dependence on the London market, the organization may explore opportunities for expansion into additional cities within the United Kingdom, as well as potentially venturing into international markets.

Ethical in business

The measures adopted by the management of business venture

The establishment of a robust ethical framework is a crucial prerequisite for the success of any corporate enterprise, as it serves to cultivate confidence and maintain a favorable image among key stakeholders, such as customers, personnel, and shareholders.

Figure 1: City relay reviews

Primarily, the management must establish an ethical code that delineates the principles and benchmarks that the organization espouses. The management must ensure accountability of employees who engage in unethical conduct, while also acknowledging and incentivizing ethical behavior (Buchanan, and Huczynski, 2019).

Subsequently, the management must lead by example through ethical conduct and decision-making that aligns with the company's core values and principles.

The implementation of this approach will facilitate the establishment of an ethical organizational culture that encourages employees to demonstrate integrity and consider the potential impact of their actions on stakeholders. City Relay has implemented several procedures to ensure ethical conduct (Rafiq, et.al. 2020).

The Ethical Behaviour of business venture

City Relay has implemented measures to ensure the protection and well-being of its guests through the implementation of rigorous screening protocols for hosts and accommodations, as well as the provision of 24/7 customer assistance.

City Relay has demonstrated a commitment to ethical behavior through the establishment of an ethics code, implementation of feedback mechanisms, prioritization of visitor safety and protection, and provision of personnel training.

The aforementioned actions play a crucial role in ensuring the sustained prosperity of the company's enterprise by promoting confidence and maintaining a favorable image among its customers, employees, and interested parties (Moscardo, 2018.).

Future Development

The issues raised by the audit

The audit has identified several concerns that require resolution to enhance City Relay's performance and competitiveness within the short-term rental management sector. City Relay's operations are hindered by the absence of a specialized platform to list and book properties (Vellas, 2016).

Developing an exclusive platform could potentially improve customer contentment and boost the number of bookings. The City Relay administration prioritizes high-end properties, potentially constraining its ability to attract budget-conscious travelers seeking more affordable accommodations. To broaden its customer base, it is recommended that the business diversify its portfolio of real estate assets to encompass more easily accessible properties.

Consequently, City Relay has the potential to attract a wider range of visitors and gain a competitive advantage over other companies that manage short-term rentals.

Actions the organization should be taking

City Relay should undertake the following measures to augment its marketing endeavors:

• City Relay should develop a comprehensive marketing strategy that includes specific objectives, target demographics, messaging, and tactics. It is imperative that the strategy incorporates ethical considerations and aligns with the company's values and tenets.
• Employ appropriate marketing channels to effectively reach your intended audience. City Relay aims to ascertain the most effective marketing channels. This category encompasses social media, email marketing, influencer marketing, and paid advertising (Khan, and Callanan, 2017).
• Prioritizing customer involvement is imperative for City Relay. A diverse range of marketing techniques can be employed to achieve this objective.
• It is imperative for City Relay to regularly gauge the effectiveness of its marketing endeavors and appraise its promotional performance. This could involve the surveillance of website traffic, social media engagement, and customer feedback.

References

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