Presented by:
Jagoda Vudragovic
Jessica Weis
Sherrelle Lawrence
Pamela Wright
MGT 300 Marketing Principles and
Management
July 12, 2012
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Executive Team
Jagoda Vudragovic – Prepared Sections Five Marketing Strategy and Six B Action Program:
Pricing
Jessica Weis – Prepared Sections Two Situational Analysis, Six C Action Program: Marketing
Channels and Section Seven – Budgets, Control, and Accountability. Also prepared the
PowerPoint presentation via Prezi
Sherrelle Lawrence – Prepared Sections Four Market Selection & Target Market and Six D
Action Program: Promotion
Pamela Wright – Prepared Sections Three Marketing Objectives and Six A Action Plan:
Product plus the Wonders of Milwaukee Tour Guide Book
The Executive team collaborated to prepare and present the following:
Section One – Executive Summary
The design of the Wonders of Milwaukee Tour Bus
Board of Directors TBD
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Table of Content
Section 1 Executive Summary
Pages 4-7
SWOT Analysis
Page 8
Section 2 Situational Analysis
Pages 9-13
Internal Analysis
External Environment Analysis
Section 3 Marketing Objectives
Page 14
Section 4 Market Selection & Target Market
Pages 15-16
Section 5 Marketing Strategy
Pages 17-25
Competitive Advantage of Northwestern Mutual
Competitive Analysis
Competitive Advantage of Wonders of Milwaukee Tour
Complete Positioning of Wonders of Milwaukee Tour
Section 6 The Marketing Mix
Page 26-33
Action Plan: Product
Action Program: Pricing
Action Program: Marketing Channels
Action Program: Promotion
Section 7 Budgets, Control & Accountability
Pages 34-36
References
Page 37
ADDENDUM
Pages 38-39
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Section 1-Executive Summary
EXECUTIVE SUMMARY
Company Overview
Wonders of Milwaukee Tours (WMT), located in Milwaukee, WI is a new sightseeing
company that is sponsored and invested by Northwestern Mutual. (NM) We will provide an
educational fun filled adventure of the Metropolitan Milwaukee area where we will visit 34 sites
narrated by a knowledgeable tour guide. Our concept is a hop-on, hop-off double-decker bus
tour that will service for two hours on the half hour at a price of twenty dollars. Primarily, the
target market will include those who are age 31-51including families and business individuals.
WMT will be the first official touring company in this area showcasing Milwaukee’s culturally
rich history, diversity and beautiful landmarks for everyone’s enjoyment.
Mission:
The Wonders of Milwaukee Tour’s mission is to provide safe, educational and insightful
tours to the visitors of Milwaukee as well as local residents, while enjoying a scenic view of
Milwaukee.
Operations:
Our two hour tours are seasonal which starts the weekend before Memorial Day and
concludes the weekend after Labor Day; Hours of operation, 10am – 6pm, Thursday through
Sunday with tours starting on the half hour. Tickets are available at the major downtown hotels,
internet sites, visitor’s bureau and selected local businesses.
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Product and Services:
WMT will provide daily sightseeing tours beginning the weekend prior to Memorial Day
every Thursday through Sunday 10am to 6pm. We will visit such sites as the Calatrava
(Milwaukee Art Museum), Pabst Mansion, Bayshore Township, Betty Brinn, Harley-Davison,
and many other great sites. Our tours will conclude the weekend after Labor Day.
The Competition:
Our main competitor in the Metropolitan Milwaukee sightseeing market is Trolley Loop
which is based in the downtown Milwaukee area and is run by Transit Express. It is sponsored
by several well-known organizations/ company in Milwaukee and has been in business for
several years. The Trolley Loop visibility has made their branding noticeable and their low cost
attracts an audience who are more cost conscious.
Marketing Objectives:
Wonders of Milwaukee’s goals are to provide a positive perspective of Milwaukee,
educate our customers, and support local businesses’ revenue stream by being a conduit between
them and our customers.
Target Market:
Our target market is between the ages of 31-51
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Marketing Strategies:
To accomplish its growth goals, Wonders of Milwaukee Tour will direct its marketing
activities toward the following strategies:
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Target Market Strategy: Based on our conducted survey, we chose to target individuals
age 31-51 of both genders. Although all ages younger than 31 and older than 51
responded favorably, our target audience is most likely to include family members
outside of our target age. In addition to our survey, we considered the sites included in
our tour which will appeal to individuals seeking a family oriented activity.
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Positioning Strategy: WMT will position its service as the first-choice tour in the
Milwaukee area for visitors as well as local residents by providing quality, uplifting and
entertaining tours.
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Pricing Strategy:
The current pricing of our competitor is significantly lower than our
suggested price. WMT will charge twenty dollar for a tour and it will maintain the current
pricing strategy for existing and new expanded tours in the future.
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Promotion Strategy: WMT will augment its service by promoting on TV, local news,
cable. Trip Advisor website, magazine advertising, Facebook, restaurants, and billboards.
Financials:
Our first year of business we anticipate 60% capacity per trip but unfortunately will not
see any profits due in part to the overhead costs we will incur, in particular the purchase of 4 tour
buses gross profit (435,000). We will however recover during our second year, predicting a 40%
increase in ticket sales resulting in 84% capacity per trip, a gross net profit of $302,000
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Marketing Mix
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WMT product plan is to present our service as an all-inclusive tour without the hassle of
organizing an individual’s visit, allowing our customers to partake in various stationary
tours through-out the city and also enjoy our diverse dining and shopping areas.

WMT Pricing Plan takes into consideration our competition’s cost. We approach our
pricing with consideration to what we offer which is premium service.

WMT marketing channel plan is to create accessibility to our customers. We will have
our tickets available in the major downtown hotels, internet websites, visitor’s bureau and
the Northwestern Mutual organization.
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WMT promotion plan includes cost effective ways to advertise our service. On-line
forums such as Facebook, Twitter, Bing and LinkedIn are free forms of advertisement
and are able to reach hundreds of potential customers daily by simply setting up a
business profile or customized page. We will also utilize our downtown hotels by
providing flyers and brochures for distribution. Northwestern Mutual is potentially our
largest promotion incentive, considering thousands of employees attend their annual
meeting.
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Northwestern Mutual SWOT Analysis: Wonders of Milwaukee Tours
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Strengths
(Internal)
2 hour Tour of Milwaukee
Hop on/Hop off
Ability to see multiple sites
May stay on bus for entire ride
Open concept, large windows
Active in the community
Opportunities
(external)
Expand route
Provide year round tours
Provide different tours for different
audiences
“Go Green”
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Weaknesses
(Internal)
No prior tour knowledge
No equipment to get started
May not know Milwaukee
More expensive than other options
Threats
(external)
Transit Express Trolley
Edelweiss Historic Boat Tour
Milwaukee Transit System with its Bus
Pass offer
Other transit systems starting tours in
Milwaukee
Economy
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Section 2- Situational Analysis
Internal Analysis
Northwestern Mutual (NM) provides financial services such as life insurance, mutual
funds, disability insurance, education funding, and much more (Northwestern mutual, 2012).
The goal of NM is to provide financial stability for their customers and putting their consumers
first. From January 1st through March 31st of 2012, NM has had an increase in sales and profit.
The premium revenue has increased 4% compared to this same time period last year because of
new premium sales, high persistency rates for renewal premium, increase in dividends, and
increase in asset-based revenues (Northwestern Mutual, 2012). Also in that time period, NM has
had an investment income of $2.3 billion, even with the decline in market interest rates, interest
income from bonds, mortgage loans, and other investments (Northwestern Mutual, 2012). The
total investment of NM has grown to $166.2 billion dollars just from the first quarter this year
(Northwestern Mutual, 2012).
NM has many competitors including New York Life Insurance Company, AEGON USA
inc., Securian Financial Group inc., and many more. However, as a touring company the
competition would be the Transit Express for a touring service. Transit Express already has a
trolley that will provide transportation to Milwaukee residents and spectators in the summer
months. The trolley is a great way to view parts of Milwaukee with a little bit of history using
the trolley car. However, NM will be able to provide a tour to those who choose where an
individual may hop on and hop off throughout the ride. This will allow for the passenger to
explore Milwaukee and also learn about the culture and history of the city. The competition
creates a challenge for our new idea to be introduced to the city, consumers will have two “hop
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on/hop off touring” options, however, NM has a unique concept to entertain and educate
partakers. The trolley would be much cheaper in price for a ride compared to the WMT tour and
both routes would cover similar focal points. This would make it more difficult for NM to come
in at first being it will be a higher price, but more is being offered from the tour itself.
NM has many internal strengths, one being clients come first (Northwestern Mutual,
2012). When working with people all the time, customer satisfaction is crucial to growth and
expansion. One expansion of NM would be to provide a tour service for Milwaukee. With this
type of investment, clients must always come first. NM is loyal to their clients as well. NM will
make sure to extend any changes and benefits that may change to current clients in order to make
their customers happy. This is important for any business to succeed in a competitive world.
NM also has skills with managing finances (Northwestern Mutual, 2012). Being able to manage
finances is where many businesses succeed or fail. When money is not properly managed, the
business may fail and NM has experience in this area which is a help when it comes to starting
up a new business venture.
NM has a few weaknesses as well. One weakness of NM is the fact that they are not
currently in the touring business. Although NM was built on investment, touring is a new
concept for the company and would be challenging to start with a new venture without prior
knowledge. Also, NM does not have any of the required equipment needed to start a touring
service such as busses. Busses are needed to transport the passengers from one point to another.
Another weakness would include knowledge of Milwaukee. Although NM is active in the
community, that doesn’t necessarily mean that they thoroughly know the history of Milwaukee
in its entirety. This is a large part of the tour to highlight the current perks and history of
Milwaukee. Wonders of Milwaukee Tours would also be more expensive than other forms of
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transportation and some may not feel this is necessary. Although the tour offers a history lesson
and more about the city, not everyone who lives here may want to pay for the tour.
Northwestern Mutual would be well suited to invest into Wonders of Milwaukee Tours
for multiple reasons. One major reason being the community involvement that NM has within
Milwaukee. NM has been in Milwaukee since 1857 and is recognizable as a staple in
Milwaukee and contributor to the community. Another great reason is the vast knowledge of
finances and money they would be able to invest in the Wonders of Milwaukee Tours. With this
knowledge, NM would have a head start into what is needed or expected and how to handle
financial loss. NM has many qualities that are expected and needed to start up a new venture into
Wonders of Milwaukee Tours.
External Environment Analysis
Wonders of Milwaukee Tours is a new concept we are bringing to Milwaukee. This leads
to a disadvantage before the start. Tours are available in other major cities around the United
States, and Milwaukee is often forgotten because it is not as large as cities such as New York
City, Dallas, Los Angeles or Chicago. Because Milwaukee is on a smaller scale, most people
tend to forget about the beauty of the city and what it really has to offer. Wonders of Milwaukee
tours will provide the right mix of personality, entertainment and history of metropolitan
Milwaukee, leaving our customers with an appreciation of the city.
The competition includes the Transit Express Trolley and Edelweiss Boat tour. Both are
very limited in what is offered and Edelweiss Boat tour would not allow for hop on/hop off and
Transit Express does not include a detailed history of Milwaukee such as Wonders of Milwaukee
Tour would allow. Since NM does not have a touring service, the buses would prove to be a
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technical challenge. Our bus has been designed to provide extraordinary viewing while on the
bus, but this would have to be designed properly and would cost a lot of money to create. There
would also be a lot of legal issues that need to be addressed concerning driving passengers
around the city. NM has a lot of legal experience, so this would be less of an issue. The main
point of Wonders of Milwaukee Tours is to provide a service around Milwaukee and allow for an
opportunity to learn more about the city than just the internet. Our service would be competitive
with the Trolley because the Trolley is already a part of Milwaukee’s history and to try and bring
in a new concept may be difficult. In order to start up this service, the cost to start a touring
service due to equipment, budget, gas, insurance, and incentives from businesses that are along
the tour’s route will show to be expensive to begin Wonders of Milwaukee Tours.
Wonders of Milwaukee Tours have many opportunities in the future. One major
opportunity would be to expand the route of the tour as well as offer different tours to
accommodate a variety of audiences. Expanding the route could provide more tourism for the
city of Milwaukee and surrounding cities. One possible expansion would be to expand to other
cities in Wisconsin or offer a service to transport the individuals to the other cities around
Wisconsin. In addition, providing other tours in Milwaukee itself such as a night life tour or a
tour for just families would allow for a different audience to enjoy Milwaukee in their own way.
This would allow for a more personalized trip through Milwaukee in specific interests of the city.
“Go Green” would also be something that Wonders of Milwaukee Tours may provide in the near
future. This is good to help the environment and keep up with the current issues, as well as
helping with ticket costs.
Although Wonders of Milwaukee Tours may be able to expand and grow, there are still
threats in the area that may hinder the progress of the service. The Trolley service is a threat
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because they are part of the history of Milwaukee as well as already available. Also, the
Edelweiss attracts many guests to take a ride on the river. Any other bus company may come in
and try to also provide our same service. Other threats would be the economy because if the
economy drops more, fewer individuals will be traveling or willing to pay to learn more about a
city they already live in. There are many reasons that pose threats to Wonders of Milwaukee
Tours to be successful.
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Section 3- Marketing Objectives
Northwestern Mutual (NM) has a long history of giving back to local communities
through the financial support of their foundation and the volunteer commitment of their
employees and field force. The mission of the NM is to build strong, vibrant communities that
serve as a legacy to future generations.
From their home base in Milwaukee, WI, and all across America, for their business to
succeed, the communities in which they operate need to be strong and provide a high quality of
life for everyone.
They focus on doing what they can to present future generations with a true foundation
for life. NM main objectives are to develop the local economy by decreasing hunger and
homelessness; increase access to health services, self-sufficiency through education and quality
of life by creating a community where people want to visit, residents want to live and play, and
businesses want to locate.
Wonders of Milwaukee Tour goals are to provide a positive perception of Milwaukee by
providing a unique experience of metropolitan Milwaukee through our tour. We are dedicated to
educating visitors as well as local residents on the history of Milwaukee while providing a
support revenue system to the local businesses in the surrounding areas. We will serve as a
conduit between out of town visitors, local residents and Milwaukee for education, entertainment
and business growth and opportunities.
Northwestern Mutual Foundation and Wonders of Milwaukee share a common goal; we
are focused on developing the local economy while creating a welcoming community
environment in Milwaukee.
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Section Four – Market Selection & Target Market
Target marketing modifies a marketing mix for various segments identified by market
segmentation.
It is extremely difficult to satisfy customers by treating them alike. Therefore,
one of the first steps in selecting a market is to utilize segmentation variables. Market
segmentation is simply a process in which you identify parts of a market that are different from
one another and to better satisfy the needs of potential customers. It assists the division of a
larger market into smaller pieces based on one or more knowingly shared characteristic.
Segmentation variables helps to better understand and satisfy the needs of the customer better
than the competition. When a business currently exists and one of their goals is to target new
markets based on a variety of demographic changes, the steps to reach those decisions are
somewhat easier than a newly formed business. Wonders of Milwaukee Tours, being a newly
formed business, concluded that one of the most important tasks in deciding what target market
would be most interested in a tour was to create a marketing survey and eventually analyze the
results. The Wonders of Milwaukee Tour’s team utilized mass customization marketing
strategies which takes on an approach that modifies a basic good or service to meet the needs of
an individual.
Demographics are a valuable and critical measurement of the aspects of a population
such as size, age, gender, ethnic group, income, education, occupation and family structure. The
collection of demographic data – via a survey – for the purpose of discovering our target market
included age, gender, ethnic group, family structure, and proximity to Milwaukee, WI, how
likely they were willing to participate in a tour of the Milwaukee area and how much they were
willing to pay. The Wonders of Milwaukee Tours team distributed and collected a total of 108
surveys.
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The survey was distributed randomly to various age groups, gender and ethnicities.
According to the results from the marketing research survey and analysis, it was determined that
the results of our survey combined “somewhat likely” and “very likely” to take a tour of
Milwaukee in order to favorably accurately analyze and present our data to our investors,
Northwestern Mutual. Based on the final analysis, the following was concluded:
Somewhat/Very Likely (80.5%); Proximity to Milwaukee – 0-9 miles (29.6%), 9-18 miles
(26.8%), 19-28 miles (10.2%), 29-37 miles (4.6%), out of state (9.3%); Gender – male (35.2%),
female (45.3%; age - <18 (2%), 19-29 (25%), 30-40 (13.9%), 41-51 (25%), ˃52 (15.7%);
Children in the Household – yes (36.1%), no (45.3%); Ethnicity – White (45.3%), Hispanic
(7.4%), Asian (2%), African American (24.1%), Other 2%)
Excluded from our survey, “household income” was not an option. However, how much
each person would be willing to pay was included. The price range choices were: $10-$15, $20$25, $30-$35, and $40-$45. The largest group (14.80%) chose a price range of $20-$25.
In summary, based on the information collected, at the start of business, the Wonders of
Milwaukee Tours service would primarily market to Wisconsin residents, male and female,
between the ages of 31 and up from all ethnic groups. Although the majority of the people
surveyed did not have children, the percentage gap wasn’t significant enough to eliminate
families with children from our target audience. In addition, we plan on building relationships
with local downtown hotels to market our touring service to Milwaukee visitors.
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Section Five-Marketing Strategy
Two of Wonders of Milwaukee Tour (Northwestern Mutual) competitors are Transit
Express with its Trolley Loop and Edelweiss Boats. These competitors offer tour services such
as a historic Milwaukee tour, fireworks cruise, Thursday dinner, weekend margarita cruise, Third
Ward RiverWalk, Milwaukee Theatre, Grand Avenue, Milwaukee Art Museum, and the Bradley
Center.
The Wonders of Milwaukee Tour is a two hour hop on/hop off sightseeing tour that
allows passengers to be entertained and educated about the sights they are visiting/viewing. The
tour allows the visitors to be educated about the rich history, culture and traditions that wait in
Milwaukee, not only is this for visitors but also for the locals. The Wonders of Milwaukee Tour
features many eye-popping adventures though the heart of Milwaukee, giving you the option of
hopping on and off at selected stops to visit the best restaurants, museums, local shops, festivals,
historical attractions, cultural and family attractions. While there is nothing like this service
currently in Milwaukee, there are some substitute services that either Trolley Loop or Edelweiss
Boats can offer the consumer in order to compete with our product.
The Trolley Loop is operated by Transit Express; the Trolley Loop offers only one kind
of tour that can be considered a competitive service with our new Wonders of Milwaukee tour.
The Trolley Loop operates from 11 a.m. to 9 p.m., Wednesdays through Saturdays and the tour is
forty minutes long with twenty minute headways. The price of the Trolley Loop is a dollar per
person round trip. The Trolley Loop offers thirty-two sights to be visited such as the Milwaukee
Art Museum, City Hall, Third Ward, Milwaukee Theatre, and many more, but the chances of
visiting all of the sights are very unlikely. On the trolley there is only a driver and not an actual
tour guide, so there are times when passengers are not informed what sights they are seeing. Also
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the trolley is mainly used by the locals to grab a bite to eat, head to a show or do a little shopping
because it is an easy connector.
Edelweiss Boats provides several different services but the one that is relevant to our
service is the Historic Milwaukee Boat Tour which ultimately is a competitive service, even
though it’s a boat tour. The Historic Milwaukee Boat Tour operates Wednesday through
Sundays. On Saturdays, however, the boat departs at 1:00 p.m. from Port of Call Bistro and Beer
Garden while other days it leaves at 3:00 p.m. The regular ticket price is sixteen dollars and for
children its eight dollars and the tour is 1 hour and 20 minutes. The boat tour focuses on
Milwaukee’s historical development contribution to manufacturing, federal laws and includes
great views of the lakefront and downtown. While on the tour you get to learn about
Milwaukee’s Brewing History, German Heritage, famous locals and its current “Renaissance”
(Edelweiss, 2012).
Competitive Advantage of Northwestern Mutual
Northwestern Mutual is one of the largest US life insurers, with more than one trillion in
individual policies in force (Hoover, 2012). Their headquarters is based in Milwaukee,
Wisconsin. The mutual company offers financial services, including life insurance, long-term
care insurance, disability insurance, annuities, mutual funds, and employee benefit services
(NorthwesternMututal, 2012). Although Northwestern Mutual is not a transportation
organization, it still serves as a great investor and a great sponsor for Wonders of Milwaukee
Tour. Northwestern Mutual has several great characteristics to its organization besides the
obvious one of insurance. Northwestern Mutual is highly involved in the community. Its
employees donate over 23,000 hours to company-sponsored volunteer efforts that include: group
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activities, several different programs for kids, mentoring, charity walks and collections, Habitat
for Humanity, service and nonprofit boards, and so many other organizations and service
(N.W.M Foundation, 2012).What is so unique and competitive about Northwestern Mutual is
that it has been resided for more than 150 years in Milwaukee; it shows its longstanding
commitment to the area but also shows what kind of organization it is. On any given day,
Northwestern Mutual employees are engaged in serving our community as volunteers and
ambassadors, in great part because employees of Northwestern Mutual has consistently been a
proud partner and a top supporter of United Way of Greater Milwaukee since the nonprofit’s
inception in 1909 (N.W.M. Foundation, 2012). “In the past ten years alone, the company and its
employees and retirees have contributed almost $30 million in support of our hometown United
Way. For the past five years, Northwestern Mutual and its employees have teamed as the sole
corporation to provide more than $1 million in annual support of the United Performing Arts
Fund (UPAF), the largest organization of its type in the country (N.W.M Foundation, 2012).”
Knowing that Northwestern Mutual is so involved with the community is a competitive
advantage because it shows that it is reliable and that people can count on them, as well as
Wonders of Milwaukee Tour. The consumers that are part of Northwestern Mutual already
would likely take part in WMT. By them taking the tour, they would be form of advertising
because they would spread the word about the tour that NM is investing in and sponsoring to
their families, relatives and friends; who too are likely to take the tour if they hear good things
about it. One of the goals of Wonders of Milwaukee Tour is to bring business in the community
and help the community out which ties perfectly in with the values that Northwestern Mutual
has. Besides the fact that Northwestern Mutual is a great contributor and helper to the
community, another competitive advantage of it is that it has an annual meeting in downtown
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Milwaukee, guaranteeing that Wonders of Milwaukee Tour will provide tours for the individuals,
allowing them to spread the word to their relatives and friends about it which would generate
more business. Global employees of Northwestern Mutual don’t only come once a year to
Milwaukee for the annual meeting but rather they have several smaller meetings, which even
than they can try out the tour. Northwestern is very well known, not only in Wisconsin, but
across the United States and that is a competitive advantage because those who know about
Northwestern Mutual and are its customers are likely to take the Wonders of Milwaukee tour
because NM does sponsor it and the customers that come out of town are very likely to take the
tour as well. Northwestern Mutual is a well-known insurance company and highly profitable one
as well, which is a competitive advantage because as Wonders of Milwaukee expands, NM is in
the position to expand their investment if necessary. Overall, Northwestern Mutual is a great
sponsoring organization that will help us succeed with Wonders of Milwaukee Tour and we
together will bring new life into the community.
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Competitive Analysis
Competitor’s SWOT Analysis: Trolley Loop
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Strengths
(Internal)
$1.00 per person for round trip
Service sponsored by: Historic Third
Ward Association, Hilton, Hyatt
Regency, Milwaukee Art Museum,
Milwaukee Downtown, BID#21, The
Pfister Hotel, The shops of Grand
Avenue, Transit Express, Usinger
Foundation, VISIT Milwaukee, and
Milwaukee Cheese Mart
Staple in the City
Recognizable
Couple of trolleys
Small group tour offered
In business for a while
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Opportunities
(external)
Expand route
Tap into resource and use its sponsors
Offer amenities
Utilize their sponsors
“go-green”
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Weaknesses
(Internal)
It doesn’t offer a tour guide speaker
Driver may or may not explain the sights
being viewed
40 minute ride
Can’t stop to look at any places or visit
while on the tour
Conducive to the weather
Noisy
Bumpy
Uncomfortable
Small
Threats
(external)
Wonders of Milwaukee Tour
Edwelweiss Historic Boat Tour
Milwaukee Transit System with its Bus
Pass offer
Sponsors backing out
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Trolley Loop is the only tour that is offered in Milwaukee that operates on land. The
Trolley Loop is very well known in the downtown Milwaukee area. Most Milwaukeeans use the
trolley as a form of transportation to get around the town at a low cost. Also, as soon as end of
May approaches, Milwaukeeans know that they are able to ride the trolley all the way until
September (MilwaukeeDowntown, 2012). The TL has been in business for a while now and it is
much known in the neighborhood, especially recognizable by its red and green color and the
“cling-cling” sound. Although the Milwaukeeans use the trolley to get around the town, the
visitors to the city also use it to get to know Milwaukee. One of the competitive advantages that
the Trolley Loop has is that it is the only “tour” available in the city. Therefore, if someone is
interested, their only option is to take the trolley. But, since Milwaukeeans use it they
recommend it to out-of-towners. One of the major advantages of the Trolley Loop is that it only
charges a dollar per person per ride for forty minutes. It is a really good price and many people
take that offer because it is such a low cost for a tour and the Milwaukeeans like the cost because
it is cheaper than bus fair and allows them to get to certain place they want to go in the
downtown area. Another advantage that the Trolley Loop has is that it is sponsored by a lot of
well-known places in Milwaukee. Some places that sponsor the trolley are Hyatt, Hilton, Pfister,
InterContinental, Milwaukee Art Museum, and so many other places; causing the sponsor to
recommend the trolley to its customers that may be in Milwaukee for a business trip, family trip,
or whatever the reason may be they are in Milwaukee.
Although the Trolley Loop has several competitive advantages it also has several
disadvantages. One of the disadvantages of the trolley is that the passengers do not get a talking
tour guide to explain the places they are viewing. The driver of the trolley on the other hand
explains the sights. But, the chances are that he/she may or may not always explain every sight
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being seen, causing the tourist, out-of-towners, and even some Milwaukeeans to wonder what
they may be viewing. A tour should be a comfortable ride and enjoyable. Even though the
Trolley Loop has so many sponsors, the sponsor could do a lot more with the Trolley Loop; it
could offer a real tour and not just a ride around the town for forty minutes. The trip is a forty
minute ride which could be just enough for some people because they may not like long tours,
which causes the Trolley Loop to be at an advantage. Its brand positioning is short trip for a
dollar only for customers who want to view the city, but do not want to pay a lot of money. It
offers just about the same amount of sights as Wonders of Milwaukee Tour would. If the Trolley
Loop competes with Wonders of Milwaukee Tour, it could expand its market share, causing the
sponsors to also compete with Northwestern Mutual. But not only that the sponsor most likely
would want to expand the tour routes and be just as good as Wonders of Milwaukee, meaning
that the Trolley Loop wouldn’t cost a dollar per person per ride anymore, which could upset its
previous customers.
Competitive Advantage of Wonders of Milwaukee Tour
Both the Edelweiss Boat Tour (Historic Milwaukee Boat Tour) and the Trolley Loop
(TL) are competitors of Wonders of Milwaukee Tour, but the boat tour isn’t a major competitor
as the Trolley Loop because it operates on water and the tour is limited to the amount of sights
seen and visited. Although the Trolley Loop is a competitor and it offers a substitute service,
Wonders of Milwaukee Tour still has a very strong competitive advantage and a better tour
service provided than the Trolley Loop. The disadvantage of the trolley is that is does not have a
tour guide speaker; rather you have the driver of the trolley explaining the sights that you are
view or approaching. Not only is that a disadvantage but also really unsafe. If the driver of the
trolley is explaining the sights you are viewing and will be approaching, he/she is not paying full
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attention to the road which is a safety concern for the passengers. Another down fall to the TL is
that the drivers do not always explain the sights you are viewing or approaching. Instead, you
are looking out the window and guessing what it may be. There is a slight chance that the sight
is being explained what it is and the history of it. The competitive advantage that Wonders of
Milwaukee Tour has over the Trolley Loop is that it has an experienced, CDL Certified driver
driving the bus and a tour guide speaker on board. You are at ease knowing that you are in a safe
moving vehicle and you can sit back and enjoy the tour and not worry about your safety because
the driver is talking. You are listening to an entertaining tour guide speaker explaining all of the
sights that you will be viewing/approaching. Another advantage of WMT compared to TL is that
WMT offers a hop on/hop off tour and the tour lasts for two hours and it headways ever thirty
minutes, whereas the Trolley Loop is only forty minutes. With WMT’s bus you get to enjoy the
wonderful sights of Milwaukee while sitting in a double-decker bus, with a see-through roof top,
which allows you to catch a view in all possible directions and not just out the window, even the
windows are not average sized bus windows. The windows are extra-large so that you can see a
lot more which is great for picture taking. The bus is a double-decker and has comfortable
seating where you don’t have to worry about a backache. Also, the bus has air conditioning, so
nothing to worry about on a hot summer day in Milwaukee; whereas the trolley does not have
windows, causing all the dust to come in; ending up to be an unpleasant ride. The trolley only
drives around and most Milwaukeeans use it as form of transportation to get to certain places
such as restaurants, shows, shops because it is an easy connector for them. Realistically the
Trolley Loop is not a real tour and is not registered as a Milwaukee tour. With Wonders of
Milwaukee Tour you get to experience a real tour of Milwaukee; you are informed and educated
on the historical places, museums, restaurants, breweries, shops, and so much more. But one of
24
the greatest perks of WMT is the fact that you are able to hop on and hop off which means if you
are approaching a sight that seems compelling to you, you may hop off and enjoy the site and
hop back on after viewing the area and continue the tour. Therefore, you do not miss any sights
at all and you are able to complete the entire tour. Another advantage that Wonders of
Milwaukee Tour has; it offers discounts and coupons for local places in Milwaukee such as
restaurants, cafes, breweries, etc and if the passengers are interested in any of those places they
are given a coupon for a discount. The Trolley Loop doesn’t offer anything of this sort to its
passengers, which caused WMT to be at an advantage. There isn’t anything like Wonders of
Milwaukee Tour service offered in Milwaukee, so this is a great advantage for the city and its
ability to provide tourism and get better known.
Complete Positioning of Wonders of Milwaukee Tour
Wonders of Milwaukee Tour seeks to position its service as the first-choice tour for the
tourists, also including the locals, as we are the out-of-towners who are seeking to learn about
Milwaukee’s history while enjoying the wonderful sights and destinations that it has to offer.
The justification for this service is as follows: not many tours are offered in Milwaukee, besides
the Trolley Tour and the historic boat tour; there isn’t a huge variety where consumers would not
know which one to choose to tour with. The Wonders of Milwaukee Tour provides a two hour
hop on/hop off tour that views historical sites, entertainment sites, festivals, Bayshore Town
Center, restaurants, and much, much more than what either one of the other tours has to offer.
Wonders of Milwaukee Tour have developed its service to just about satisfy everyone’s needs
that takes the tour. WMT also developed its service, pricing, packaging, and promotion to
communicate a superior prestige image. Since Wonders of Milwaukee Tour would be an upscale
25
service and the only tour bus offered in Milwaukee the price would be higher than the current
Trolley Loop’s price.
Section Six- Marketing Mix
Action Plan: Product
Wonders of Milwaukee will offer a 2 hour tour of Metropolitan Milwaukee and
surrounding areas to out of town guest and local residents, convention hotel occupants and any
large or small group of individuals interested in learning about Milwaukee. Our tour will include
a historical to present view of Milwaukee’s landmarks and new developments. During the tour,
our guests will have the opportunity to depart our tour to participate in individual tours from
various businesses such as; Miller Brewery, Harley Davidson, Mitchell Horticultural Park, and
Pabst Mansion. Additionally, our guest will be able to enjoy live entertainment during the
festival season at the Lake Front, shop at Third Ward and Bayshore Township shopping mall. In
all WMT will visit 34 sites.
Wonders of Milwaukee will run every 2 hours on the 1/2 hour with specific pick-up and
drop off locations and various hotels in Milwaukee’s downtown area such as the Hyatt Regency,
Milwaukee Hilton, Pfister, and Intercontinental Hotels. We will also pick-up and drop-off at
specific businesses’ tour points; Harley Davidson, Third Ward, Bayshore Township, Lake Front,
Pabst Mansion, Miller Brewery and Mitchell Horticultural Park. Each guest will receive a detail
colorful pamphlet describing and capturing the 2 hour tour.
Our package allows our guests to experience and learn about Milwaukee’s history. They
will have a tour guide who explains the scenic view from our customized bus, which gives them
a panoramic view as we drive them through Milwaukee’s landscape. Every guest will also have
26
an opportunity to purchase a business’ tour at a reduced rate - a gesture of thank you for taking
our tour. This also serves as support to area businesses.
Based on our survey, we concluded that our market is primarily people who are between
the ages of 31 and 51 and possibly with a family. Our approach is to bridge the age gap by
appeasing to baby boomers that are optimistic, and are the primary care givers for their parents
as well as their children and Generation “Exers”, who are ethnically diverse with some college
education and eager to learn. Ticket purchases will be available at several venues; area hotels,
online purchases and area businesses with discount incentives.
Milwaukee’s metropolitan area continues to grow, and as Milwaukee grows, Wonders of
Milwaukee will stay up-to-date on the latest hot spots to include in our tour. Our marketing
department has a continuous relationship with the visitor’s bureau and will be kept abreast of any
new activity. We will conduct reviews and grading with hotel concierge before incorporating
new businesses into our tour.
There are several individual Milwaukee tours available; however Wonders of Milwaukee
serves as a link to most Milwaukee tours. We have removed the hassle of transportation, parking
and planning out your visit by providing an impactful, all-inclusive tour. Our guests can see
Milwaukee and receive a wealth of knowledge all in two hours and at the end of our tour receive
memorabilia as a keepsake.
Action Program: Pricing
Wonders of Milwaukee Tour is a service offering that is relatively new to the city and
something that the city has never had before, it is important at this phase to emphasize the
competitors’ pricing and perceived value to the customer. One of the things that we do not want
27
to do is emphasize the value of market-skimming price because we are providing a service tour,
which is not a high end product that you want to set at a high price for and Wonders of
Milwaukee Tour already has a substitute. But, initially we could go after market-skimming
pricing (even though it is not a high end product) because WMT does provide a lot more than
what Trolley Loop offers as a tour and if we get competition that is like our tour service than we
can lower the price to catch other “low end buyers,” but it is risky to do that. Therefore, when
setting up our pricing we want to focus on the pricing of our competitor, Trolley Loop and on
our future customers. We are aware what Trolley Loop charges for its tour and what it offers and
that puts us at an advantage to offer more but also charge more for our service; we also want to
know what our customers a willing to pay for the service tour that Wonders of Milwaukee is
proving because without them we do not have a business and we want to accommodate to them,
by also make revenue for the business.
Wonders of Milwaukee Tour’s target market are individuals who like to take tours and
are willing to learn new things, but also enjoy time visiting new places; they likely have a family
or are business individuals and are between the ages of 31-51. Based on consumer surveys, the
Wonders of Milwaukee Tour initial cost will be set at twenty dollars. Wonders of Milwaukee
Tour is a prestige service and its aligned with the high quality high value reputation which
resembles the same prestige that Northwestern Mutual has, causing the two be a great quality
and competition in the community. The pricing structure of WMT does not really compare much
to the pricing of the competitor. The competitors pricing for a tour is a dollar per person, but it is
not a compete tour; the tour is very basic and limited. Also the service offering reflects a lesserknown company with a more inexpensive tour service, but not just that also the trolley itself is
not appealing nor comfortable; it has few features and its nor sufficient for a tour that people
28
deserve to get when in Milwaukee. With the Trolley Loop, you essentially “get what you pay
for” price position.
The following table contains the market survey results depicting the data which translates
to the corporate price position recommendations are outlined above.
Count Row Percent
Likelihood of
Buying
Not at all
Amount Willing to Pay
$10.00$15.00
$20.00$25.00
Very likely
$40.00$45.00
Total
Who Cares?
Not very likely
Somewhat likely
$30.00$35.00
11
34
27
49.09
16
50
23
41.81
4
12.5
5
9.10
1
3.1
0
0
100.0
50.91
9.10
0
55
38
43.7
39
44.8
9
10.3
1
1.2
87
100.0
56.3
11.5
1.2
87
32
55
Cumulative Percent
Somewhat and
Very
(combined)
Cumulative Percent
How to read the table:
If you charge $40.00-$45.00, 0% of those “very likely” to buy will buy it.
If you charge $30.00-$35.00, 9.10% of those “very likely” to buy will buy it.
If you charge $20.00-$25.00, 50.91% of those “very likely” to buy will buy it.
If you charge $10.00-$15.00, 100.0% of those “very likely” to buy will buy it.
If you charge $40.00-$45.00, 1.2% of those “somewhat” likely to buy will buy it.
If you charge $30.00-$35.00, 11.5% of those “somewhat” likely to buy will buy it.
If you charge $20.00-$25.00, 56.3% of those “somewhat” likely to buy will buy it.
If you charge $10.00-$15.00, 100.0$ of those “somewhat” likely to buy will buy it.
Suggested Retail Price $20.00
29
As indicated by the market research data, the price positioning recommendation is based
upon the target markets indication of what price they would pay to take the tour with Wonders of
Milwaukee. The demand at this price could be high or low because it all depends on the amount
of consumers we have who are willing to the tour, but realistically the demand at this price
would be high because Wonders of Milwaukee is offering a hop on-hop off tour for two hours at
a price of twenty dollars with discounts to certain restaurants, cafes and a few other places. The
consumers would be getting a great deal which would cause the demand of the service to be high
because they like what is offered at this price set. If the price of the tour service would to be
lowered that would be that we would have to lay off workers because we would not be able to
pay all of our expenses. Also if would probably mean that would have to cut down on buses
because chances are that we could not afford gas at the demand of the price. If raising the price
of the new tour service we would need to add more people to our staff because we possible
would be adding more destinations to our packages. If our price is more than twenty dollars we
could afford more places to be seen, but it is also risky because consumers might not want to pay
more than twenty dollars, but if adding more to the package they very likely would pay the
higher price, especially if they are visitors in Milwaukee.
Competitor’s reaction to Wonders of Milwaukee Tour pricing strategy is likely to be one
of adverse advertising such that they would position their advertising to reflect their “low price”
as opposed to Wonders of Milwaukee Tour’s “high” price. Also, they would express the fact
they offer the same service as WMT, which they do not. But ones WMT gets in the market they
would be competitive and take charge in creating a better service because currently the Trolley
Loop has no competition. The Trolley Loop would advertise that WMT is too expensive and that
30
they are the better choice to go with for only a dollar per person. It is very crucial to maintain the
service and the branding that WMT offers because we do not want to engage in price war
advertising with our competition. If needed we will, but we don’t want to take that measure
because that would demean the quality and integrity of our service that is being offered.
Wonders of Milwaukee Tour’s offers a quality tour service, meaning that it will be pricy but you
“get what you pay for.”
Action Program: Marketing Channels
The current marketing distribution channels for NM would include directly to the
customer. NM is an investment company so they are known for working directly with their
consumer and providing insurance and other needs.
The marketing distribution channel for Wonders of Milwaukee Tours would be done
through a few different ways; directly to consumer and through a dealer (Marketing MO, 2012).
One way would be directly to the consumer. The consumer would be able to come and purchase
a ticket directly from the sales team that is available. Also, the consumer could purchase directly
through the internet as a way to obtain a ticket for the touring service. A second way would be
through the concierge at the local hotels. This would be through a dealer that would purchase
our tickets and offer them to the consumers that stay at the hotel. Both channels would allow for
consumers to be able to gain knowledge about the tour and purchase a ticket with ease.
The service being provided does not need any other channels as of right now. Typically
touring services provide their marketing directly to the consumer and not though another
company because then the price would just drive up from there. Retail stores do not need to sell
31
to the consumers of a touring service because this would be handled at specific locations or
though the concierge.
The Trolley would have a similar distribution channel as Wonders of Milwaukee Tours.
The main channel would be directly to the consumer as well because there is no need to go
beyond the consumer to provide this type of service. Presently, there aren’t any other channels
that the Trolley would be using that Wonders of Milwaukee Tours would be using. Wonders of
Milwaukee Tours would provide more channels because of the added concierge helping aid to
the consumer.
Looking into the future, new developments may change the channels that are presently
being used or possibly used. If Wonders of Milwaukee Tours grows and expands to other
locations, then possibly retail or other channels may need to be looked into to keep up the
growing market for this service. More venues to purchase tickets for the service would need to
be added to keep up with the demand for the tour.
Action Program: Promotion
A simplified way to define promotion is “the coordination of marketing communication
efforts to influence attitudes or behaviors.” However, the process of promoting a business or
service – especially when it’s a new business – can be challenging. Therefore, a team must work
together, be on the same page, respect proposed ideas, be patient and respect potential customers.
In addition, a product or service must appear to be appealing enough to buy into your idea. Each
and every aspect of promotional marketing is a way of communicating to as many people as
possible.
32
Marketing communication informs consumers about new goods and services, reminds
consumers to continue using certain brands, persuades consumers to choose one brand over
another and builds relationships with customers. The Wonders of Milwaukee Tour’s team have
discussed and decided on a number of ways to promote the Wonders of Milwaukee Tours.
Although there are various types of tours around the city of Milwaukee, the Wonders of
Milwaukee Tours is unique in its own way and effective promotional marketing will be one of
our key successes. Personal contact with managers of hotels, restaurants, select businesses and
concierge staff are some planned options to spread the word. Distributing flyers to a number of
entities including households and word of mouth is another type of promotional advertising we
will take advantage of. Initial plans to create a website have already begun. Once our website
has been created and active, a listing of our business can be set up in search engine local
directories. On-line forums such as Facebook, Twitter, Bing and LinkedIn are free forms of
advertisement and are able to reach hundreds of potential customers daily by simply setting up a
business profile or customized page. Business cards are a must. They can be easily distributed
to people at various functions and meetings.
33
Section 7- Budgets, Control & Accountability
WMT Pro-Forma Income Statement
Fiscal 2013-2014
Gross Sales
Ticket Sales
Revenue from Businesses
Total Net Sales
Cost of Service
Equipment
Gas ($5.00/gal Diesel)
Employees
Maintenance
License/Certification
Uniforms
Employee Benefits
Insurance
Total Cost of Service
Gross Profit
Selling Expenses
Advertising
Net Operating Profit
Fiscal 2013
Fiscal 2013
Sales Qty
Sales Dollars
25,000
3,000
28,000
% of Net
Sales
Fiscal 2014
Sales Qty
$500,000
$15,000
515,000
97.000%
3.000%
100.000%
690,000
40,000
50,000
69,000
1,000
500
7,500
20,000
878,000
-363,000
35,000
5,000
40,000
% Net
Fiscal 2014 Sales
Sales
Dollars
700,000
25,000
725,000
96.500%
3.000%
100.000%
133.981%
7.767%
9.709%
13.398%
0.194%
0.097%
1.456%
3.883%
170.485%
-70.485%
170,000
40,000
55,000
103,500
1,000
500
8,000
25,000
403,000
322,000
23.448%
5.517%
7.586%
14.276%
0.138%
0.069%
1.103%
3.448%
55.586%
44.414%
10,000
1.942%
20,000
2.759%
-373,000
-72.427%
302,000
41.655%
The projected net sales for WMT would be $515,000 from ticket sales and revenue from
other businesses. Businesses would pay our service to provide special advertisements along with
the tour as well as possible promotions. We project to have about 60% of each bus being full at
one time for each day of the season. When 60% full, our ticket sales would amount to about
25,000 tickets being sold for the season. Depending on what each business would want to
provide for advertisement would adjust how much they would pay us. We plan on having major
expenses at the beginning of this venture. To start off, four buses would need to be purchased to
34
accommodate the rounds of the tour. Along with buses, gas and maintenance would need to be
added to the cost to operate the service. Maintenance was based on 10% of the cost of the buses.
The cost to maintain a bus is very expensive and we need to consider anything that may happen
such as oil changes, tire rotations/ changes, and much more. Also, benefits as well as wages are
needed to be taken into consideration when thinking of how much the tour will cost to run
regularly. For the first year, our gross profit will be a negative $373,000. This is expected for
the first year because we will be starting from scratch and need to buy a lot of the equipment.
For the second year, we plan on making some of our deficit back. We will pay for advertising
through billboards, television, and flyers to get the word out of which we are. Without changing
the price for a ticket we plan on having more sales and more guests on our bus each day. Also,
more businesses will be aware of our service so they may be more inclined to pay for
advertisement. Equipment for the second year should not be as much as the first, because we
already will have purchased buses. There are possible chances that we might encounter some
problems along the way, so we want to be on the safe side and be prepared to buy another bus if
necessary. As we grow our employees will need to have an increase in pay with experience.
Also, we plan on growing our service so more employees may need to be hired as well as trained
to accommodate. We projected that price will go up for insurance as well as benefits because
cost drives up each year and we want to be aware of this change. For the second year we project
to have a profit of $302,000.
35
Timeline
Year
November
Get
2012 approval
from the
city on the
plan
proposal
2013
December
-Conduct
interviews
-Buy
buses
-Establish
insurance
January
February
March
April
May
-All local business
researched for historical
data/landmarks/locations.
-Get approval and
confirmation with sites
and locations are able to
be used.
-Make sure all state/city
approvals are in place to
run the business.
-Hire employees
-Send a
letter out
to visitor
bureau
and hotel
chains
addressed
to
concierge
and NM
-Design
feedback
tour
-Provide a
run/test tour
to concierge
and
stakeholders.
-Receive
feedback on
the
experience
of the tour
-Create and
implement
advertisement
for the WMT
-The
launch of
the tour
officially
begins
-Tours
welcome
for
everyone.
36
References
Edelweiss Boat Tour:
Ukora e-commerce. (2012). The edelweiss, historic milwaukee boat tour. Retrieved from
https://www.edelweissboats.com/public/cruise/historic-milwaukee-boat-tour-8/
Hoovers:
Hoover. (2012). The northwestern mutual life insurance company,inc. Retrieved from
http://www.hoovers.com/company/The_Northwestern_Mutual_Life_Insurance_Company_Inc/cfycci1.html
Marketing MO. (2012). Distribution channels. Retrieved from
http://www.marketingmo.com/strategic-planning/how-to-develop-your-distribution-channels/
Milwaukee Downtown:
Milwaukee trolley loop. (2012). Retrieved from http://www.milwaukeedowntown.com/categories/7parkingtransportation/documents/25-milwaukee-trolley-loop
Northwestern Mutual:
Northwestern mutual, company overview. (2012). Retrieved from
http://www.northwesternmutual.com/about-northwestern-mutual/our-company/companyoverview.aspx
Northwestern Mutual. (2012). About northwestern mutual. Retrieve from
http://www.northwesternmutual.com/about-northwestern-mutual/default.aspx.
Northwestern Mutual Foundation:
Northwestern mutual. foundation. (2012). Retrieved from http://www.northwesternmutual.com/aboutnorthwestern-mutual/our-company/northwestern-mutual-foundation.aspx
37
Addendum
Likelihood of Taking The Tour
Demographic
Characteristic
Percent Very Likely
Percent Very or
Somewhat Likely
TOTAL SAMPLE
29.6%
80.5%
Compare other percents to these
0-8 miles
11.1%
29.6%
9-18miles
8.3%
26.8%
19-28 miles
2.8%
10.2%
Distance is not an important
segmenting variable because
everyone is part of the target
market.
29-37 miles
2.8%
4.6%
Out of State
4.6%
9.3%
Under age 18
0%
2%
19-29
12%
25%
30-40
3.7%
13.9%
41-51
10.2%
25%
52-over
4.6%
15.7%
Yes
12%
36.1%
No
18.5%
45.3%
Male
13%
35.2%
Female
16.7%
45.3%
White
14.8%
45.3%
Hispanic
3.7%
7.4%
African American
0%
2%
Asian
10.2%
24.1%
Other
0.93%
2%
Implications
Distance from Milwaukee
Age
The individuals between the age
30-51 are in our target market
because they are mostly likely to
have kids and are business
individuals.
Children
People with kids in target market
Gender
Gender is not an important
segmenting variable. Both Male
and Female are in our target
Ethnicity
Ethnicity is not an important
segmenting variable. All ethnicity
are in our target market.
38
Count Row Percent
Likelihood of
Buying
Not at all
Amount Willing to Pay
$10.00$15.00
$20.00$25.00
Very likely
$40.00$45.00
Total
Who Cares?
Not very likely
Somewhat likely
$30.00$35.00
11
34
27
49.09
16
50
23
41.81
4
12.5
5
9.10
1
3.1
0
0
100.0
50.91
9.10
0
55
38
43.7
39
44.8
9
10.3
1
1.2
87
100.0
56.3
11.5
1.2
87
32
55
Cumulative Percent
Somewhat and
Very
(combined)
Cumulative Percent
How to read the table:
If you charge $40.00-$45.00, 0% of those “very likely” to buy will buy it.
If you charge $30.00-$35.00, 9.10% of those “very likely” to buy will buy it.
If you charge $20.00-$25.00, 50.91% of those “very likely” to buy will buy it.
If you charge $10.00-$15.00, 100.0% of those “very likely” to buy will buy it.
If you charge $40.00-$45.00, 1.2% of those “somewhat” likely to buy will buy it.
If you charge $30.00-$35.00, 11.5% of those “somewhat” likely to buy will buy it.
If you charge $20.00-$25.00, 56.3% of those “somewhat” likely to buy will buy it.
If you charge $10.00-$15.00, 100.0$ of those “somewhat” likely to buy will buy it.
Suggested Retail Price $20.00
39