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College Traveling Agency 101
Transcript of College Traveling Agency 101
Anyone looking for an itinerary planner for vacations
People interested in having us plan their hotel lodging, hotel services, etc.
college students, international students, businessmen, families on vacation, etc. Target Market Traveling Agency is a service that provides air transportation for a lower price. We consolidate people who have a mutual destination together, and act as a liaison between the airline company and our customers to arrange logistics according to their needs. Through this traveling agency, a mutually beneficial relationship is established with the airline companies - their business increases, while prices for our customers decrease. Who Are We? Not only do we provide cheap, convenient flight booking service for everyone, but our service is unique because we focus our scope on the adventure aspect of vacation.
You won't find these low prices anywhere else! Because we established a mutually beneficial relationship with the airline company we're partnering with, they in return give us a subsidized price, while their business increases. Why Choose Us? Primary Market Research Orbitz: provides airline tickets, hotel reservations, car rentals, vacation and travel deals
Expedia and Travelocity: similar traveling agencies, but Travelocity has more traveling information available Major Competitors PROS: cheaper airfare tickets, convenient transportation,
CONS: sign up difficulty (first come, first serve basis), competing with similar businesses
Risks: complications with airline companies, insufficient customers/publicity, etc. Advantages & Disadvantages It would take approximately $10,000 to start this business:
-Sign Contracts with multiple airlines
-Order group airplane tickets
-Hire employees & management
-Advertise & publicize (commercials, billboards, etc.) Estimated Cost Adventure travel is growing at a rate of 17% ( Dr. Philippe Durverger)
Global market for adventure travel is valued at $89 billion
Travel Industry Association of America (TIA) indicates that the travel and tourism industry generates $1.3 trillion in economic activity in the U.S. every year
23% of adventure travelers conduct their trip planning research online
2.7% of adventure travelers prepare for their trips by booking with a tour operator; 11.4% book hotels and airfare online Secondary Market Research Questions? Occupation:
High School Student: 41%
Unemployed: 7% (COLLEGE STUDENTS ONLY) Would you be interested in a service that transports you via flying to and from your school for a modest price?
YES: 79% NO: 21% How Often Do You Travel?
1-2 times per year: 57 %
3-5 times per year: 37%
6+ times per year: 6% How Many Family Members Do You Usually Travel With?
Five: 6% Would you want the agency to organize your vacation schedule based on your place of interest?
YES: 60% NO: 40% Do you usually use a travel agency when booking flights and hotel reservations for trips/ vacations?
Yes: 12% No: 88% Which airline(s) Do You Fly
On Most Frequently?
China Airlines: 25%
Eva Air: 11%
Jet Blue: 11%
American Airlines: 5% 8. Would you be interested in a reward system, where the more frequently you travel, the more benefits you get?
Yes: 94% Depends:6% How much money do you typically spend on traveling (ground & air transportation, lodging) per year?
$5000 or more 7%
Not Sure: 43% How would you prefer to access this service?