Tm0222 Travel Industry Managements Assessment Answer

You are the lead management consultant for Travel Resources Consultancy(Asia). 

You are to undertake secondary research and present a business proposal that takes into account the current ‘Travelution Tour and Travel Pte Ltd’ product. You are to present plans and proposals for the viability of a future purchase / expansion  as described above.

Wherever possible you should justify your suggestions with reference to secondary research detailing trends, consumption and patterns – e.g. Mintel reports, Travel and Tourism Analyst and other relevant academic literature. You may also like to make reference to the current market by referring to situations as documented in travel press. Your report is expected to:

• Summarise the current position of ‘3T’, including a synopsis of their current product offering and organisational structure.

• Examine both local and global trends to help identification of a potential new product and market.

• Conduct a competitor analysis. The report should explain why these are considered competitors and opportunities where ‘3T’ can differentiate themselves.

• Clearly identify a new product / company and the appropriate market segment this will attract. Support your choice by providing detailed justification for the suggestions, including synergies with the current market segment and their existing products. (This  can  be either a single product or a collection of products).

• Detailed explanation of the proposed programmes. This will include an overview of the products on offer and details of the suppliers. Make recommendations for the contracting of all components of the proposed programmes.

• Summarise the costs involved in producing the products, e.g. the core components (accommodation, airport fees), the additional costs (tax, insurance) and potential costs (fuel increases).

• Identify and justify the pricing strategy.

• An explanation of the regulatory and legal environment pertinent to ‘3T.

• Provide guidance about assessing the Health & Safety.

• Include recommendations to improve and assess quality to maintain their reputation as a reputable tour operator

• Make recommendations for membership of industry based organisations. You must evaluate the appropriate membership and likely costs and value for money.

Once the product expansion has taken place, you need to make recommendations for changes that may be implemented in future years, such as changes to distribution.