This report analyzes the tour operator industry, focusing on LCB Tours in Malaysia. It examines different types of tour operators, LCB's market position, size, and competitors. The report also explores current trends and developments in the industry, including technology advancements, inflation, and environmental awareness.
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Tourist Operation Management Current and recent trends and developments on tour operator industry: The tour operator industry is the industry which gives touring facility to the customers. The different tour companies provides different kinds of travel services like travel agencies, cruise lines and tour operators etc. These operators provides different type of holiday package to attract its customers. There are some current and recent trends in the industry which needs to be analysed by LCB to cop up with these and trends. With help of these trends company can meet the customer requirements. These current and recent trends are as follows: Technology Advancements: Technology is making people life simpler day by day. But it is very dynamic and it gets obsolete very promptly. As every industry is using some kind of technology to operate its business activities. The current technology which is adapted by tour and travel industry is cloud technology. Under this cloud technology, one can store the and save passport information of tourist. And this allows a document free travel for tourist. LCB tours can use this technology to provide hustle free service to its customers. Rise and Fall of Inflation: Inflation is part of economic situation of country. It refers to the sustainable increase in price of product and service of particular industry. As this can have huge impact on tourist industry business. For example, the increased fuel prices could lead to the increase fare prices of transportation. And it can lead to low profitability for company. So the management of LCB should evaluate the proper market trends so they can set their goals accordingly. Increased environmental awareness and responsible tourism: The environment protection is very important to sustain in market. As LCB shouldusetheeco-friendlyvehiclelikeelectricallyenablesvehicleasalocal transportation, which would enable low pollution. The company should increase the awareness about protecting environment. Type of tour operators: There are different types of tour operators which are as follows: Inbound Tour Operators: This includes the non resident person travelling in other country. The companies which provides the local assistance to these tourists are called Inbound Tour Operators. LCB can provide this services to the local tourist who visits the country and face the language issue. Domestic Tour Operators: Domestic tour operators refers to the providing services to local resident of that particular country. The LCB can give this services to local tourist of that country so they can visit their local territory. Specialist Tour Operators: The specialist tour operators are those who organise and provide the tour for specific group of people to a pre set geographic location. As this can be very helpful for LCB to maximise their revenues. They can expand their business by entering into this sector. HistoryMarket Share Market Position SizeOriginsOwnershipMarket Segments Competitors The company was founded in 1984 by Mr Lim Cheng Boon to fulfil the demand of public transportation services. About 20% market is covered by LCB tour in Malaysia . They have positioned them selves with respect to class of users. The company provides services to upper middle class. The company have around 250workin g employees It was originated in Malaysia. Privately held ownership . The company has done segment on basis of Psycho- graphic which includes personality, lifestyle and class. Peregrine adventures, Exodus travels and Indus Travels etc.
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