Euro Tours and Travels Pvt. Ltd - Research Paper Example

Spain 1 Executive Summary Euro Tours and Travels Pvt. Ltd. is a new company which has just been incorporated in Spain. Three experienced founders decide that they will use their experiences to run the business and at first they are focusing the promotion of the business through internet. The internet has changed the world. It is systematically transforming industry after industry and attracts people. So the company can attract traveler’s attention through the website. 1.1 Objectives Tourism industry is one of the first growing industries in Spain and in the whole world at large. It has achieved the average growth rate of 20% annually over the last 10 years. So at the beginning to enter in this industry the company has some major objectives and one of these objectives is growth. The company wants to attract more international tourists to earn revenue in the 1st year. Some more objectives are as follows: To offer responsible and community based tourism services at an affordable cost. To develop the business with dignity and provide educational and quality experiences to the tourists. To respect and nurture local culture, art, handicrafts, monuments and other tourist resources. Take responsibility to protect natural resources also. 1.2 Keys to Success Commitment to provide high quality services Experienced employees with efficient customer service skill Small size of the company will allow to direct management on all the aspects of the business. 1.3 Mission The mission of Euro Tours and Travels Pvt. Ltd. is to provide top quality tourism services to the customers. They will focus on the 100% customer satisfaction and provide services on time. They are confident that the service of the company will exceed the traveler’s expectation. 2 Company Summary Euro Tours and Travels Pvt. Ltd. is going to start their tourism business in the market of Spain. The company will provide attractive tourist packages to its customers which includes various tourist destinations in Spain. The company gives promise to understand their travel needs and design as per the criteria for individuals, groups and corporate. 2.1 Company Ownership The company is small in size consists 3 shareholders and the division of shares is 40%, 30% and 30%. The company has one director, one managing director, one secretary and few more efficient employees to run the business. 3 Products and Services This company will provide community based tourism to its clients. The services which they will provide must be quality based services. Their services include- all transfers, hotel and accommodation booking, all tours within Spain, Transport by private cars, trains, coach etc., and services of knowledgeable, well trained guides who know the major languages in the world. 3.1 Product and Service Description The products the company will offer and the services they have designed to offer after keeping the customer’s priority in mind. Spain is the world leader in the holiday tourism and the cultural tourism is also growing steadily over the last few years. Museums, monuments, Aqueduct of Segovia, La Concha, Running of the Bulls, Palacio Real etc are the special attraction of Spain which also are included in the packages which are going to offer by this company. 3.2 Technology Technologies that are used by the company are internet for promotional purpose, computer systems, mobile communications, reservation systems or booking engines etc. 3.3 Macro Environment The economy of Spain ranks at the 5th position in the European Union. So the growth of the economy will help to launch the tourism business in this country. Inflation also is in satisfactory position. Political condition is also stable to launch the business. 4 Market Segmentation Market segmentation is required to identify the potential customers. 4.1 Target Market Segment Target market segment will those group of people who love to travel and to do adventures. Foreign tourists will also be a part of this segment for generating more revenue than the business from the domestic clients. 4.2 Market Needs The major attraction points are the market needs in case of tourism of the country. These are Barcelona, Madrid, Toledo, Granada etc. So these places must be included in the tourist packages to attract travelers. 4.3 Market Trend Market trend of this country says that tourism is the stable business over here as major percentage of citizen of this country love to travel and adventure. As the country has so many attraction points so this will attract international travelers also. 4.4 Market Participants The company will get opportunity for participating in the tourism business market in Spain. 4.5 Competition and Buying Patterns The company will face so many competitors as there are already some stable companies run this business in the market. Buying pattern of this kind of services is high in this market as the people of this country love to travel. 5 Strategy and Implementation Summary What are the strategies the business will take and how to implement the business is discussed as follows: 5.1 SWOT Analysis This analysis will give a clear picture about the strength, opportunity, weakness and threat of the business (Moutinho, 349). Weakness Lack of a reputation in comparison to competitors. Limited financial strength Opportunities No reliable tourism company exists in the market that provides value of the tourist’s interest. Threats Existing tough competition Strength Well qualified and experienced employees 5.2 Competitive Edge Competition will give this company a challenge to establish a table position in the market. 5.3 Marketing Strategy The marketing strategy should be unique to make the company different from the other companies in the same field. Positioning Statement The company wants to offer affordable, comfortable services and also wants to become premier travel provider in Spain. Pricing Strategy Price will be competitive and affordable. Promotion Strategy Promotions will be done through print and social media. Sales Strategy Selling process will depend on personal selling, networking and advertisement. Strategic Alliances Strong partnership should be established with several lodges, hotels, travel agencies for getting benefits. 6 Management Summary The human resource is the essential component to delivery services. 6.1 Organizational Structure Open communication should be there inside of the company at each and every level. Successful recruitment, discipline and motivation will work for the growth of the business. 6.2 Management Team & Personnel Management will develop the company as community and ensure the job satisfaction of personnel. Work Cited Moutinho, Luiz. Strategic Management in Tourism. New York: CABI Publication. 2000. Print. Read More