•Chase Dekko

•Julieanne Hodgdon

•Samantha Ouimette

•Jessica Scites

•Gerasimos Zapantis

Table of ContentsPage#

Page#

• Part I • Strategy 21

• Industry Data 5 • Business Model 22

• Competition 6-10 • Part IV

• Millennials 11-13 • Persona 24

• Part II • Journey Map 25

• Mission and Vision Statement

15-16 • Part V

• Strengths & Weaknesses 17 • Millennial Marketing

• Opportunities & Treats 18 • Digital Strategies 27-34

• Part III • Targeted OutdoorCampaign

36-39

• Competitive Advantage 20 • Metrics 41

• Industry Data

• The Moorings

• Competitors

• Millennial Characteristics

Research:

Industry Data

Bonnier Corporation, publisher of Sailing World and Cruising World magazines produces a State of the Industry report each year, which is an annual study of the sailboat industry in North America. Findings from their 2014 research include (reflects info from September 2012- August 2013):

• Solid gains in all aspects for heart of the US market, sailboats 26’ to 55’.

• 2869 More Charter Weeks Booked Out of North American Source Market

• All seasons see increased business, but winter is the big winner up 23%

• Caribbean destinations enjoy 25% increase in charter weeks

The Moorings InformationConsumers Top 3 Competitors

Based on Social Media Presence

Golfers

13.1 Million Power Boaters

7.1 Million Sailors

1.9 Million Snow Skiers/Boarders

6.9 Million

Tennis Players 6.7 Million

Neilson

Horizon Yacht Charter

Kiriacoulis

Mobile Apps in the Yacht Charter Industry

Yes No

OCC Apple and Android Compatible

View local hotspots

Pitter Yachting Apple and Android Compatible

Sailing/Boating News

Above average rating (4 out of 5 stars)

The Moorings Med/Caribbean Only on Apple iPad

Navigate and Explore BVI

Provides boating regulations and precautions

Horizon Yacht Charters

Kiriacoulis

Nielson

Competitor-NeilsonWebsite

British oriented

Website currency is in Pounds

Easy to navigate

Offer many travel packages and bundles

Appealing layout

Social media buttons that follow you as you scroll up or down the webpage

Post social media excerpts on homepage

Competitor-Horizon Yacht ChartersWebsite Mission: Our company ethos is

simple- to offer immaculate yachts, first class customer service and a great value for money. Special Offers (last minute booking) Yacht Sales/Management Communicate via phone, fax, Skype

With 7 stunning locations and 100 immaculate yachts to choose from, bareboat, skippered or luxury crewed, we are the Caribbean and USA Charter specialists.

Facebook, Twitter, Google Plus

Competitor-KiriacoulisWebsite

Split into three sections Yacht Charters Yacht Sales Other Group Activities

According to Website Number 1 sailing company in

the Med Number 4 in the World

400 vessels from 25 bases Compete in the Med and

Caribbean markets Above average Social media connect buttons on

homepage

Millennial Characteristics

Target Customer: Millennials

Millennials tell us what makes their generation unique:

1. Technology use (24%)

2. Music/Pop Culture (11%)

3. Liberal/Tolerant (7%)

4. Smarter (6%)

5. Clothes (5%)

http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2014%20Reports/nielsen-millennial-report-feb-2014.pdfhttp://www.pewsocialtrends.org/2010/02/24/millennials-confident-connected-open-to-change/

Millennials Read?

http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2014%20Reports/nielsen-millennial-report-feb-2014.pdf

Where are the Affluent Millennials?

http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2014%20Reports/nielsen-millennial-report-feb-2014.pdf

• Mission & Vision Statement• SWOT Analysis

Mission Statement

“To be a world-class yacht charter company providing exclusive, relaxing escapes to the most extraordinary locations.”

Vision Statement

“Our work will be guided and informed by our beliefs and commitments to tradition and service. With a firm foundation established by Charlie Cary and his wife Ginny in 1969, we will follow in their footsteps and continue to cultivate the sailing culture by providing customers with experiences they will treasure for a lifetime”

Strengths Weaknesses

Forward-looking

Have been in the industry for over 40 years

High bargaining power, along w/ having a sister company (SunSail)

Has operations in both the Caribbean & Med.

No comprehensive plan to address new core activities due to shifts in consumer demands

Disorganized campaign targeted towards millennials

Lack of diversity in social media presence

Opportunities Threats

Seasonal options

Catering towards wealthy individuals who share similar hobbies/interests

Luxury items are becoming more appealing

New companies entering the market

Customer base, consisting primarily of an older demographic, is evaporating

Developing technology

• Competitive Advantage• Identification & Analysis• Business Model Canvas

The Moorings StrategyFocused Differentiation

Concentrating on a narrow buyer segment or market niche:

• Millennials• ≈ DOB: 1983-2004

• Sailors

• Golfers

• Snow boarders

• Rock Climbers

• Surfers

• Hikers

• Hang Gliders

• Parasailers

Outcompeting rivals with a product offering that meets specific tastes and requirements of niche members:

• Yachts < 5 Years Old

• Exclusive Design by Robertson & Caine

• Several Exotic Locations

• Customized Experience

• Strategic Partnerships

• Self Service Enhancements

• Simplified booking process

• Simplified provisioning/planning process

• Social Media Interaction

The Moorings StrategyKeys to Creating a Differentiation Advantage

Source: Crafting & Executing Strategy: The Quest for Competitive Advantage (New York: McGraw-Hill/Irwin, 2014)

• Create the ability for customers to complete as much of the booking and planning process online with as little assistance possible and with digital assistance

• Incorporate social media into as much of the experience as possible

• Highlight strategic partnership with Go-Pro

-Website & phone bookings, direct or through brokers/travel agencies

-Have both traditional & Online solutions for sales & marketing

-Social Media presence

Primary Market:-Active customers:Baby Boomers (55+)-Niche market based on income ($150k+ annually)-Approx. 1.9 million sailors-Primarily married couples -Enjoy foreign travel, gourmet food, fine wine, skiing, & golf-Affluent customers w/ expendable incomeNew Market Segment(s):

-Millennial focus

-Building upon customer diversity (Black Boaters Association, Gay Armada, & LatAm Focus)-Reaching out to first-timers, as well as the advanced sailor-Targeting new customers through cross-markets

-Requires supplier of yachts/power boats-Boat storage and maintenance

-IT support for digital marketing

(website, iPad app development, database management & general software needs)

-Highly trained team of staff members

-Offices located globally-Marinas & dry/wet boat storage-Lease arrangements for dock slips-Licensing agreements with secondary providers (i.e., brokers, travel agencies)

-GoPro (digital/video advertising)

-Robertson & Cain (key supplier of catamarans since 1991)

-Icelantic Skis (co-produced series of 7 videos w/ The Moorings; helps w/ cross-market exposure)

-Yacht Charters-Yacht Sales

-Their pricing tactics are based on providing high value + making their customers feel affluent & exclusive

-Most important cost is having large & new enough yacht fleet

-Value driven operation = delivering a premium product

-Yacht charter pricing based on seasonality, boat size, duration of trip, and package options -High bargaining power with their supplier, allowing for greater control over potential variables in cost

The Business Model Canvas

-Customer loyalty program (“Captain’s Rewards”)

-Maintain contact with customers through direct mail, email & events -Combination of automated & in-person personal assistance-Expanding digital presence

-”A rewarding privilege.”-Creating luxurious travel experiences

-Flagship experience in the yacht chartering industry since 1969

-Make their customers feel exclusive & of high status-Put high value on their customer’s time, meeting all consumer needs they are capable of satisfying-Offers range of products/services, from sail-it-yourself packages, to all-inclusive, fully staffed trips-Key partnership w/ R & C allows for catamarans to be built specifically to The Mooring’s standards (customization)-New yachts used for chartered trips (<5 yrs. old)

Persona and Mock Itinerary & Journey Map

What kind of millennials are The Moorings looking to target?

Hip-ennialHilary

Gadget Guru Gabe

Clean & Green Curt

ValuesCautious consumer,

globally aware, information-hungry

Successful, wired, free spirited,

confident, at ease

Impressionable, positive,

adventurous, healthy

Demographics Female-dominated, usually between the

ages of 23-26

Male-dominated, above-average income, single

Male-dominated, youngest millennial

segment

Income $80,000/yr $250,000/yr $50,000/yr

Personal Quote“I love to work out,

travel, and constantly learn about new

things.”

“It’s a great day to be me.”

“I take care of myself and the world around me.”

Customer Journey

• Social Media Presence

• App Expansion

• Website Improvements

• Mobile Website

• Pandora Ads

Millennial Marketing: Digital Strategies

Increase Social Media Presence

Strike the Right Tone on Social Media

Manage Online Reputation

Track Key words

Social media monitoring tools

Set up alerts

Engage

Mobile App Expansion

http://www.nielsen.com/us/en/insights/news/2014/mobile-millennials-over-85-percent-of-generation-y-owns-smartphones.html

In second-quarter 2014, Android was once again the top operating system, with over half of U.S. smartphones (52%) running the operating system. Apple, meanwhile, remained the top smartphone manufacturer with 43% of mobile subscribers in the U.S. owning an iPhone.

Website Improvement Homepage Layout

Too formal Too much “White Space” Pictures lack action and

excitement

Social Networking Have feedback sections on

homepage Both social media and

direct feedback

Communication 24 Hour live chat with

support

Website for Millennials Need a page

specifically for

millennials

More vibrant

background color Colors catch the eye

Pictures of actual

travelers on vacation Want to see what

kind of fun they can

have

Social media handles

direct to specific page

Go Mobile Standard Mobile

Pandora Ads

http://investor.pandora.com/phoenix.zhtml?c=227956&p=irol-presentations

• 250 million registered users

• 76.4 million active users in a month

Pandora Ads

http://investor.pandora.com/phoenix.zhtml?c=227956&p=irol-presentations

• #2 in most

Monthly App Minutes per Visitor

• The Formula for Success

• Sponsoring an Event

• Targeted Advertisements

• Email Blast

Millennial Marketing :Targeted Outdoor Sports Campaign

Targeted Outdoor Sports Campaign

Sports Options

• Scuba Diving

• Rock Climbing

• Surfing

• Sponsor an Event

• Direct Mail

• Email

• Magazines

• Sport Websites/Blogs

• Sponsor an Event

Outlets

The Formula for Success

1. Select targeted sport

SCUBA Diving

2. Choose product to focus on

Crewed Yacht Charters

3. Identify event in ideal location

The SCUBA Show

Long Beach, CA

4. Identify Package to promote

Ultimate Dive BVI Package

Ultimate Dive Mini Package

5. Prepare targeted advertisements

Sponsoring an event

Be ready to hand out flyers and other promotional giveaways

Door prizes = contact list

Direct mail follow up

Email blast follow up

Testimonial from last year’s show when asked what their favorite part of the show was:

Millennial MarketingTargeted Advertisement

This ad could be used for:• Hand out at event• Content for smaller direct mail

piece• Content for email blast follow up• Also usable in SCUBA diving

magazines and websitesThis ad contains information about:• Packages – what this specific

segment would be most interested in

• Social media handles • Basic inclusions• Contact info – including distinct

url

Metrics

Metrics Three Main metrics

Number of visitors to new page before and after advertising

Number of sales before and after advertising

Number of visitors to new page

Can expand on above metrics by adding various parameters

Age

Location