Question

Key Partners Key Partners of our travel agency business would be those that provides travel and tourism related services to the public on behalf of suppliers such as activities, airlines, car rentals, cruise lines, hotels, railways, travel insurance, and package tours. Our partner would provide resources like hotel packages, tour packages, rental cars to our customers, etc which would help us to attract customers to our travel agency. Our partner would perform activities like contacting and arranging the accommodation facilities in hotels or motels, traveling activities to our customers via cars, flights etc.	Key Activities in travel agency business to produce, market and deliver the product to customers is very important because it would help to generate revenue to our business. we would connect with hotels, cruise and air lines which would help us to market our agency business to customers and we would act as a medium who deliver that service to customers. We would mainly focus on building a good customer relation as well as partner relationship because it would help us to do good word of mouth by happy and satisfied customers also it would help to improve the business of us and our key partners with profit from happy customers. this can be done by good hotel service, timely travel service, complementary goods, gifts etc.	Value Propositions A Unique Value Proposition is a basic marketing concept, in which you define what makes your product or service unique and valuable to your target market. It tells potential customers why they should do business with you, rather than with your competitors we provide value to our customers as travel agency like complete package of travel, accommodation, insurance, tours etc which other travel agency does not provide. we solve the problem of customers to wander here and there to inquiry about tours packages, cost of hiring a hotel, rental cars or airlines etc. we provide all in complete package.so basically, we are giving all in one package for travel in which customers can get best of the best experience of their lives.		Marketing & Sales Communication every business requires marketing and communication because it would help us to reach our target audience. if we do not perform these activities of marketing and sales communication then how the customers would know about us. We are in business of travel agency so we would want to reach a wide range of audience across the boundaries of country, so the online medium would be the best medium to aware the target customers because with this we can reach a wide range of audience. for example- we can use FB and Instagram to reach billions of people and post ads on the FB pages and Pictures and videos on Instagram to promote or market our products and services. For customers who are not on social media like old people the we can market our business by Tv and paper media like magzines and flyers etc.	Customer Segments Customer segmentation is very important because it would help us to know our primary customers whom we mainly provide our services. for example- this could be done on demographic basis like age, gender, occupation, marital status etc. for our business, our customer segment would be both young people who are newlywed and old couple who want world tour after retirement. our customers would be based on maily marital status like couples.
	Key Resources To make our value proposition true there are some key resources required like financial resources which would help us to incur initial cost like hiring or employees, other agencies, payment like salary etc. second key resource is human resource because they would help us to market and propose our business to potential customers which would require a talented and skilled employees Our key partners and customers also requires above resources because every business is depend on finance means fund and human who are required to perform task like selling, marketing, contacting customers after the service etc.			Product & Service Delivery Channels How will customers purchase and receive the product or service? What about after sales support e.g. returns? Where will the marketing communication direct customers to? Type here:
Cost Structure What are the most important costs inherent in our business model? (think about fixed and variable costs). Which resources and key activities are most expensive? Is the business model more cost driven (helping the customer save money) or value driven. Is there an opportunity for economies of scale? Type here:			Revenue Related What value are our customers willing to pay for? What are they paying now? How do they currently pay and how would they prefer to pay? How much does each possible revenue stream contribute to overall revenue? How might we price this product or service e.g. subscription, fixed or variable pricing, pay in advance, paypal? Type here:

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Explain the history behind your idea: e.g. how did you come up with the idea, why do you think it will be successful? Why do you think you are the right person to develop this idea? Type here:	Reflection: What do you understand by the term ‘reflection’? What is an ‘action learning set’ and why might it be more effective than individual reflection? Type here:
	Assumptions: What are the main assumptions behind your business idea? How could you test those assumptions? Type here:

PLEASE answer from PRODUCT& SERVICE DELIVERY CHANNELS TO PART2 FROM THE GIVING ANSWER IN PART1. THANK YOU

Answer 1

answer-

Product & Service Delivery Channels -

Product and service delivery channels would include the direct contact with sales personnel of travel agency and online site of the company to register the services of the travel agency.

Products and services would be delivered to customers by our sales person and online medium like registration on site, choosing and selecting the trip or other services of our company.

Our company not only believes in providing the services but also post services in which our customer services support team contact with customers with phone calls etc so that we can know their experience about our services. This helps us to maintain records of customer database. We also help them to provide returns if we could not fulfilled our promises.

Cost Structure -

Our business is mostly depend on variable cost as compared to fixed cost. Fixed costs often include rent, buildings, machinery, etc Variable costs may include wages, utilities, materials used in services etc.

our business is depend on sales person, online sites etc so we required working capital to run day to day business for salaries, wages, materials acquisition like cars, fuels etc.

Our business is cost driven because we provide all in one package we saves the cost of customers to arrange tours, travel, hotels etc. we provide all services at one place. this also helps to increase the vale to business.

No, there are less chances of economies of scale because we already provide most of the services in one package so Increasing services are difficult in our business.

Revenue Related -

Our customers are willing to pay for getting all things in one package which is the USP of our business. They pay according to the package in which they can get the whole package or package in part like only tour service or tour service with rental car etc.

They can pay in both ways like online medium like payment via card in advance or payment to our sales person for the product and services.

for website we make subscription of one year in which they get benefits like exclusive rights to services, free goodies and gifts etc. we offer variable prices for package in parts and fixed prices for complete tour package.

Explain the history behind your idea:

I came up with idea because i know that with increase of technology and youtube people are interested in traveling for example making travel Vlog, blogs, food blogs etc which our company can arrange all things in one place.

also, traveling business does not get outdated. there always be couple and professionals who likes to travel.so i think my business would be successful because of our USP points and good business structure.

I am the right person because i likes to travel, i have knowledge and interest in traveling which can be a plus point for me to do this business.

Reflection -

Reflection is about students or others becoming aware of their own thinking processes, and being able to make those transparent to others. It enables assessment of the "why" and "how" of the learning, and what needs to be done as a result.

Action learning is the process of bringing thinking and action into harmony. Learning is a continuous process and is best achieved with an open, probing mind, an ability to listen, question and explore ideas. It is more effective because we gain a deeper understanding of the issues we face. This enables us to manage change more effectively, and meet the challenges we face in the workplace. It’s this ethos that is at the mid point of our work.

for example- our idea would be reflection but learning set would be doing that idea in practical form via which we can learn more and more.

Assumptions -

The main assumptions behind my business ideas are-

• We have complete knowledge about the business of travel agency.
• We have full support of our key partners in business.
• We can enough funds to start and support the business.
• We have good skilled and talented sales force to initiate and close the deal.

we can test those assumptions by adopting test based on cost to the business, probability of success of our travel business with our competitors, conducting the surveys etc.

*as per HomeworkLib policy, i can answer one out of multiple questions but i tried to answer all for your help.hope these answers would help you.good luck.pls rate.