The Marketing mix of Cox & Kings analyses the 7Ps of Cox & Kings, which includes the Product, Price, Place, Promotion, people, physical evidence, and process of Cox & Kings. Cox & Kings is a Public limited company with a reputation of being the oldest in business as a luxury tour operator sector and provider of numerous other travel services. The company was launched in 1758 by its founder, Richard Cox, and is headquartered in Mumbai, India. It has targeted individuals and groups looking for both domestic and international travel as its clients. Cox & Kings is a single-stop portal for several travel products and related services, and its chief competitors in the tourism industry are as follows-
About Cox & Kings
- Type: Travel Company
- Industry: Tourism, transportation, and hospitality
- Founded: 1758
- Founder: Richard Cox
- Headquarters: Mumbai, India
- Area served: Worldwide
- Key people: Alok Kumar (Chairman) and Peter Kerkar (CEO)
- Number of employees: 10,000 (2022)
Table of Contents
Cox & Kings Product Strategy
At one time or another, Cox & Kings has worked as a travel agent, army agent, publisher, printer, cargo agent, news agent, insurance agent, banker, ship owner, and dealer of travel-related services. It is a market leader and world-renowned brand name in education travel, corporate travel, incentives, meetings, exhibitions, conferencing, visa processing, international trade fairs, and foreign exchange.
Cox & Cox and Kings, one of the longest-established travel companies, offers a diverse product mix catering to travel needs and preferences.
The new Product mix of Cox & Kings in 2024 is as follows (Source).
- Leisure Travel: This includes personalized holiday packages for domestic and international destinations. They cater to various travel themes such as adventure, beach holidays, cultural tours, family vacations, and romantic getaways.
- Educational Travel: Specializing in educational trips for students, these tours are designed to enhance learning experiences in various fields like history, geography, culture, and science.
- Group Tours: Cox & Kings organizes group tours, which are popular among those who prefer traveling in larger groups. These tours often have a fixed itinerary and are a cost-effective way to explore new places.
- Luxury Travel: They offer bespoke luxury tours for travelers seeking high-end experiences. These include exclusive accommodations, personalized services, luxury transport, and access to unique, off-the-beaten-path experiences.
- Corporate Travel Management: Cox & Kings provides travel management services for corporate clients. This includes organizing business trips, conferences, and incentive travel for employees.
- Special Interest Tours: These tours are tailored for travelers with interests like wildlife, photography, food, or trekking. They provide specialized itineraries that focus on these interests.
- Adventure and Offbeat Travel: For those seeking adventure and unique experiences, Cox & Kings offers tours to less-explored destinations and activities like trekking, wildlife safaris, and other adventure sports.
- Travel-Related Services: Besides tours, they offer travel-related services like visa processing, travel insurance, and flight bookings.
Cox & Kings’ product mix is designed to cater to a wide range of travel preferences, with hotels offering everything from standard holiday packages and hotels to specialized and luxury travel experiences. Their extensive portfolio reflects their expertise in the travel sector, customer analysis, and commitment to providing diverse and quality travel options.
Cox & Kings Place Strategy
Cox & Kings is a well-established international education and travel group, and their business operation is spread in distant locations all over the world on four continents and includes twenty-two countries. The company has subsidiaries in New Zealand, Australia, Singapore, Japan, UAE, Netherlands, United Kingdom, Canada and the United States. Cox & Kings conducts its distribution business and policy for services and products in India through two hundred and forty-one presence points.
Its operations cover nearly one hundred and forty-nine cities, and the company has opened twelve branches that serve as sales offices in emerging markets. As part of its distribution network, it has eighty-sixed agents, one hundred and forty-three franchise networks, and companies that work as sales shops.
- Global Network of Offices: Cox & Kings boasts a vast network of offices worldwide. These offices are strategically located in key tourist source markets and destinations, providing localized services to clients globally.
- Online Presence: The company has a solid online presence with an interactive website and online booking platform. This digital approach caters to the growing trend of online travel research and booking, allowing customers to access services from anywhere.
- Partnerships with Travel Agents and Agencies: Cox & Kings collaborates with travel agents and agencies worldwide. These partnerships expand their reach and allow customers to book Cox & Kings’ travel packages through local travel agents.
- Customized Service Centers: To cater to diverse customer needs, Cox & Kings has specialized service centers. These centers offer tailored services for different travel segments, such as luxury travel, educational tours, and corporate travel management.
- Travel Fairs and Events Participation: Cox & Kings actively participates in travel fairs and industry events. This helps market their services and allows them to stay connected with industry trends and customer preferences.
Cox & Kings’ place strategy effectively combines physical office presence, digital platforms, strategic consolidation, partnerships, specialized service centers, and active industry engagement to maintain a strong presence and robust travel and tourism sector position.
Cox & Kings Pricing Strategy
Pricing policy for a company related to the leisure time tourism sector is critical as it depends on a market analysis of the type of customers the company is targeting and the services it will be providing. Cox & Kings realizes this aspect and has created a value-added pricing policy that offers the best products and qualitative services at reasonable prices.
This competitive analysis is because the company realizes that if it does not provide the best deals at reasonable rates, the customers will likely go to its competitors. To adopt a competitive pricing policy for its premium brand, the company has offered incentives and discounts like trade discounts, seasonal discounts, and cash payment discounts. This helps the brand keep its customers happy and its prices affordable for tourists.
Several vital elements can characterize Cox & Kings’ marketing strategy and pricing strategy competitive position in the travel and tourism industry are:
- Value-Based Pricing: Cox & Kings often employ a value-based pricing approach. This means they set prices based on the perceived value of the experience and service they offer their clients. For luxury and specialized travel packages, prices are higher due to the premium experience, exclusivity, and personalized services.
- Competitive Pricing for Standard Packages: Cox & Kings keeps its pricing competitive for standard travel packages. They balance quality service with affordable pricing to cater to a broader market segment, competing effectively with other travel agencies and tour operators.
- Dynamic Pricing Based on Seasonality and Demand: In the travel industry, pricing often fluctuates based on seasonality, demand, and availability. Cox & Kings adjusts its prices accordingly, with potential peak season surcharges or off-season discounts.
- Bundled Pricing for Comprehensive Packages: Cox & Kings offers comprehensive travel packages that include flights, accommodations, tours, and sometimes additional services like travel insurance. This approach simplifies the buying process for customers and often provides better value than purchasing each component separately.
- Custom Pricing for Tailored Experiences: For customized travel experiences, Cox & Kings likely uses custom pricing strategies. Prices for these personalized trips are based on the individual or group’s specific requirements, preferences, and itinerary complexity.
- Promotional Pricing and Special Offers: To attract new customers and retain existing ones, Cox & Kings periodically introduces promotional pricing and special offers. These might include early bird discounts, last-minute deals, or special rates for specific destinations.
Cox & Kings’ pricing and distribution strategy is designed to cater to a diverse clientele, offering options for budget-conscious travelers and those seeking luxury holiday experiences. This approach allows them to remain competitive and appeal to a wide range of customers in the dynamic travel market.
Cox & Kings Promotion Strategy
Intense competition in the tourism sector has been an added incentive for companies like Cox & Kings to create a marketing strategy and policy to help them reach further heights. To create a high-recall image in the global tourism market, it has created various commercials that help it spread brand awareness. The company has increased its partnerships with government regulations and tie-ups with different groups to provide better customer service.
Cox & Kings offers exotic locations and picturesque destinations to its customers interested in traveling. All travel and tourism-related information is supplied through its brochures and online site, which has become a boon for its business and clients. As part of its promotional and marketing strategy, the brand also offers added incentives and discounts to keep its clients loyal and happy.
Some Recent Video ads and Print ads of Cox & Kings are:
Cox & Kings People Strategy
Here are the key points about the “People” marketing aspect of the Service Marketing Mix for Cox & Kings.
- Critical Role of Human Resource: Recognizes the importance of high-quality, personal interaction in the travel industry, treating people as a vital asset.
- Global Workforce: Employs over 5,000 trained professionals worldwide to deliver exceptional services.
- Diverse Departments: Features dedicated staff across various sections, including Alliance and Marketing, Stores, Accounts, etc.
- 24/7 Call Centers: Operates around-the-clock call centers globally to ensure constant availability to clients.
- Comprehensive Training Programs: Regular, extensive training programs are conducted to enhance both technical and interpersonal skills necessary for the travel industry.
- Extensive Network of Sales Agents: Maintains an extensive network of General Sales Agents (GSAs) and Preferred Sales Agents (PSAs) in India and globally through exclusive partnerships to sell its services.
Cox & Kings Process Strategy
The “Process” aspect in the service marketing mix of Cox & the King’s marketing strategy reflects its strong roots in the company’s efforts to streamline and enhance customer experience through efficient and customer-friendly procedures. Here are the key points regarding Cox & Kings’ process marketing strategies.
- Customer Relationship Management (CRM) Tool: Cox & Kings employs a CRM tool at the heart of its operations to track customer bookings, feedback, and preferences. This tool aids in analyzing customer needs and designing packages that are likely to appeal to them.
- Personalized Communication: The company uses the information gathered from the CRM to send personalized cover letters to improve the chances of business transactions, showing a dedication to tailored customer service.
- Comprehensive IT Infrastructure: Offers a robust IT infrastructure that provides technology solutions and support to franchisees, including a virtual office system, disaster recovery system, and an in-house helpdesk.
- 24/7 Database Access: Ensures their database can be accessed anytime from any location, enhancing flexibility and responsiveness.
- Global Network of Ground Operators: Focuses on maximizing its customers’ holiday and business travel experience through a robust global network. This network supports ground operations and helps in delivering seamless travel experiences.
- Emergency Support via Call Centers: Operates 24-hour call centers to provide advice, expertise, and tools to franchisees, as well as backup in case of emergencies or urgent queries.
Cox & Kings Physical Evidence Strategy
The “Physical Evidence” aspect of the service marketing mix for Cox & Kings is crucial to the marketing strategy for instilling confidence and trust in the services they offer. Physical evidence refers to a service’s tangible and visible parts that allow customers to evaluate the service before, during, and after its consumption. Here are the critical physical evidence elements for Cox & King’s marketing strategy mix.
- Branch Sales Offices: Cox & Kings has numerous branch sales offices located in major cities across India, including Mumbai, New Delhi, Hyderabad, Chennai, Kolkata, Bengaluru, Ahmedabad, Kochi, Jaipur, Nagpur, Pune, and Kolkata. These offices are physical locations where customers can interact with staff, make bookings, and resolve travel-related queries.
- Franchised Shops: The company also operates 56 franchised shops catering to domestic and inbound travelers to India, providing a physical touchpoint for customers to engage with the brand.
- Global Presence: Cox & Kings has a substantial international footprint with subsidiaries in Australia, UK, UAE, Japan, USA, and New Zealand. It also has branch offices in Moscow, Maldives, and Tahiti and representative offices in Spain, Italy, Germany, Sweden, France, and South Africa.
- Online Portal: The Cox & Kings online portal acts as virtual physical evidence, where customers can browse packages, book travel services, and access brochures. This portal is designed for user convenience, allowing a single-window operation to complete bookings and other travel arrangements.
- Marketing Materials: High-quality photographs of exotic locations on its website and brochures serve as physical evidence by visually representing the experiences Cox & Kings offers. These materials help create a tangible sense of the destinations and services available.
- Luxury Train Travel with IRCTC: Cox & Kings made a joint venture agreement with IRCTC in 2008 to provide luxury train travel in India, which serves as unique physical evidence of its premium service offerings.
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