Goals and Strategies in Puerto Rico

Marketing Strategy

Providing adequate information to ensure travelers and investors have every reason to choose Puerto Rico as a premier vacation destination in the Caribbean and the World. The proud culture and unique landscapes strategically located in the heart of the Caribbean will be capitalized upon to promote the island. Tax incentives for eligible investors will also be used to promote renovations and newly constructed developments in the hospitality and hotel industry of Puerto Rico.

Mission

PRTC’s mission is to serve the public with the responsibilities of promoting, stimulating, and regulating developmental practices in tourism for Puerto Rico (Puerto Rico Tourism Company, 2017).

PRTC wants to establish Puerto Rico as the pinnacle in the Caribbean for tourism and increase return visitors through marketing and highlighting the rebuilding efforts and available areas of travel.

Marketing Objectives

Promote a safe and vibrant vacation destination after Hurricane Maria destroyed much of the island’s infrastructure and have market shares continue to rise to previous rates.

Financial Objectives

For the first quarter, PRTC will look to have met twenty-five percent of the previous year’s visitors and increasing that rate to seventy-five percent of the previous year’s visitors by the end of 2019. Primary funds in advertisement and marketing will be allocated to reaching consumers in the U.S. and as the island begins to recover advanced efforts will be made to reach other markets as were planned prior to the hurricane.

Target Markets

A strong presence in the U.S. will be the focus market to regain previous traveler numbers.

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There are over twenty-eight million men and women between the ages of twenty and thirty-five, of those, many of them are not married and the trend for groups of friends to travel together is on the rise. Targeting that group will not only bring many travelers but also create a brand loyalty to gain repeat visits for years to come. Families in the U.S. are also a major focus as they will bring on average four visitors per group. Families in the U.S. are beginning to travel farther and the price saving capabilities of not needing a passport present an advantage to Puerto Rico.

Positioning

PRTC will position itself as the pinnacle of the Caribbean with the best leisure and vacation destination. Using the current media presence Puerto Rico will be able to use that coverage to its advantage since many people are talking about the island and PRTC will shift the focus to the islands hotels, casinos, beaches, terrain, and other leisure activities. Recovering the island’s identity through the ability of the people and their never giving up spirit.

Strategies

Marketing Program

PRTC will address pricing, advertising and promotion, and customer service with their marketing program.

  • Pricing. Competitive pricing will be encouraged by the tourism company to attract visitors. The company does not set pricing for the island, but statistical data will be assessed and compared to other Caribbean destinations and provide adequate and comprehensive rates to encourage patrons from the selected demographics. Pricing should also address family rates and group rates to meet specific demographics.
  • Advertising and Promotion. Primary methods of advertising and promotion will be through social media and internet outlets such as Facebook, Twitter, and The Knot. Advertisements will be purchased to reach consumers searching for vacations destinations in real-time. Additional promotions during select bridal conventions. Magazine promotions catering towards weddings, families, and young adults will be included.
  • Customer Service. Service to travelers and investors will be superior and be able to provide adequate responses and problem-solving capabilities to ensure our customers have the best experience. Up to date information on the progress of the island and encouraging patrons about the highlights of the destination.

Marketing Research

Puerto Rico has been in the U.S. news for the past few months and prior to the hurricane was a top tourist destination in the Caribbean for U.S. citizens. Capitalizing on the current media streams and past visitor numbers, PRTC will be able to use the information to set obtainable goals and present a vibrant and safe leisure experience in Puerto Rico. U.S. consumers will be able to relate to the disaster to New Orleans and see the drastic recovery that took place.

Financials

The financial overview of PRTC will cover funding sources and current operations directly associated with revenues.

Current Operations

After the hurricane, many of the hotels and tourist destinations including restaurants and casinos were shut down. Revenue to the island was at a sudden halt. Currently, the status of travel locations has been on the rise as recovery efforts have been effective. There are one hundred and seven attractions open for service, seventy daily flights, one hundred and twenty-two hotels available, fifteen casinos, four thousand open restaurants and one hundred and fifty-six travel agencies available for service (Puerto Rico Tourism Company, 2017).

Marketing Costs

Marketing budget will continue to use portions allocated from the government to implement the plan with an increase in the budget over the next two years to achieve the goals set. Board members of the PRTC will need to vote on the appropriate funding allocations to ensure a practical and efficient spending plan is available to market Puerto Rico as a vacation destination in the Caribbean.

Cash Flow Forecast

Cash flow will rise drastically from the complete standstill after the hurricane. Close attention will be taken to all the traveler numbers entering Puerto Rico with a potential of meeting twenty-five percent of the previous year’s rates. As revenues begin to climb they will be invested back into promotion and rebuilding the islands travel destinations.

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Goals and Strategies in Puerto Rico. (2022, Feb 04). Retrieved from https://paperap.com/goals-and-strategies-in-puerto-rico/

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