To sustain the market pressure a strong and sound marketing strategy is needed (Wickham, 2001). There are several models of marketing strategies among which the 4Ps and 3Cs are quite feasible to apply. The 3Cs refers to corporation, customers and competitors whereas the marketing mix model slays importance on product, price, promotion and placement. The marketing mix model was developed during the 1960s and is discussed below:-
• Product: In case of a tourism industry, product refers to the services of the enterprise. The services must meet customer satisfaction and product differentiation should also be achieved.
• Price: The price should be set after a market analysis so that it remains within the reach of people and is able to earn profits.
• Promotion: This is packaging of a service to attract the customers. In 21st century this aspect has become most important.
• Placement: The enterprise has to decide the ways to reach the customers through their service.
The investment which has to be made must be collected from the banks or through grants in case it is not enough. The spread of the tourism market depends upon the amount of investment, especially in a competitive market of 21st century. The assets of the travel firm must be increased now and then to create a sustainable business.