Travel Smarter: A New Business Venture on Safe and Budget-Friendly Travel

Travel Smarter is a new business venture that focuses on providing safe and budget-friendly travel options. The company overview includes details on how the business will ensure customer safety while traveling. The business and social outcomes include generating profitability and providing a higher sense of individual safety. The projected sales target a specific age group and income range. Social media marketing will be used to attract customers and attain feedback. The opportunity and target market include demographic, psychographic, behavioral, and geographic segmentation. The use of technology will provide a wide range of information to travelers and compare their tickets and accommodation. The summary concludes that Travel Smarter provides coherency and great ability to develop innovation within market research for highlighting the concept and manage the market demand concept to thrive into the market.

Entrepreneurship and innovation
A new business venture on travel
smarter

Table of content
• Company overview
• Business outcome and social outcome
• Problem to be solved
• Projected sales
• Social media marketing
• Opportunity and Target market
• Use of technology
• Summary
• References

Company overview
• Travel smarter is a business venture that will focus on proving its
customers with safe travelling experience along with the ability to
choose a destination based ion the budget provide by the customers.
• This allows the customers to choose from various destinations to
travel along with being ensured of their safety while travelling.
• The business venture will allow travels to reach a destination in a
safe manner in their specific budget.
• The organisation will take into considers various aspects such as
political climate of the destination, cultural aspects along with issues
of pandemics such as COVID – 19.

Business outcome and Social outcome
Business Outcome
The potential business out come of Travel smart
will be connected to the overall organisation
performance and success in accomplished high
level of productivity along with performance in an
effective manner. The business outcomes will
include:
• Generating profitably form the website
• High level of potential growth of profitability
margins
Social outcome
The social outcomes can have high level of
occurrence which can be due to the overall structure
and system of the business along with the unknown
support of foreign travellers relative to the
environment. Social, this can include:
• Providing higher sense of individual safety
• Providing vital and information detail relative to
the destination and its history value prior to
arrival

Problem to be solved
• The main problem which is defined by the Travel smarter is to provide
the customers an easy and accessible information about their travel
prices on different platform.
• Company make an easy and safe platform to their customers in order to
provide a greater efficiency to make ease and awareness of their travel
prices related to tickets, accommodation and other travailing charges.
• Without having a viable option, the new venture of travel company is
offered on the market, for solving new problem to the customers and try
to reduce the current exists in more effective and efficient ways.

Projected sales
• The business venture targets a specific age group of 20 to 50 and an
average income of $10,0000. these sales will majorly come through
the purchase of specific planes based on the budget of the customer.
• The travel packages will be based on the budget of the customers
and will start form 500$ and reach to the point of 15000$ which will
be an exclusive option which will consist of various other features
missing from the base plan.

Social media marketing
• The business venture will be launched through social media due to
its high presence of the targeted market. The use of social media
will allow in attracting customers in an effective manner.
• This will also provide vital information of how the customers are
interacting with the business and help in attaining vital feedback
which will help in developing new attractive destination plans.

Opportunity and target market
• Demographic segmentation: The targeted
people are related to both males and females
who love travelling and manage their budget in
more effective and smarter ways.
• Geographic segmentation: This segment is
related to initially arise the targeted to native
English and Spanish speaking people across the
country include Australia, UK, US and India.
• Psycho-graphic segmentation: This is related to make a
targeting the classes and those within the upper and
working-class people.
• Behavioural segmentation: This segmentation involves
about the users who are really appreciated and those who
seek the usability and accessibility to considered their
safety while travailing through the access of different
websites.

Use of technology
• The use of technology can be related to provide operations in
Travel Smarter which is related to provide a wide range of
information to travellers and compare their tickets and
accommodation.
• Processing in between different travelling sites and suggest them
the right site to book their travelling tickets and accommodation.
• Company is able to use employment web and an application
developer which provide an informative knowledge about the
different companies.

Summary
• From the above presentation, it is concluded that people are
allowed for choose a greater expression and analyse potential for
introducing new venture in Australia market.
• It further helps in allowing their target market and investors for
being once available on the market.
• From the above areas outlined it is analysed that ideally the
company provide coherency and great ability of developing
innovation within market research for highlighting the concept and
manage the market demand concept to thrive into the market.

References
• Dodgson, M. and Gann, D., 2020. Philanthropy, Innovation and Entrepreneurship. Springer Books.
• Mitra, J., 2019. Entrepreneurship, innovation and regional development: an introduction. Routledge.
• Mrożewski, M. and Kratzer, J., 2017. Entrepreneurship and country-level innovation: Investigating the
role of entrepreneurial opportunities. The Journal of Technology Transfer, 42(5). pp.1125-1142.
• Provasnek and et. al., 2017. Sustainable corporate entrepreneurship: Performance and strategies toward
innovation. Business Strategy and the Environment, 26(4). pp.521-535.
• Sheshinski, E., Strom, R.J. and Baumol, W.J. eds., 2021. Entrepreneurship, innovation, and the growth
mechanism of the free-enterprise economies. Princeton University Press.
• Wu, Y. C. J., 2017. Innovation and entrepreneurship education in Asia-Pacific. Management Decision.