Voice Recognition Technology in Tourism: A Strategic Plan for Cosmos Tours and Travels

CIS8011 - Digital Innovation – Assessment 2
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Executive Summary
This report highlights the strategies to launch the emerging “voice recognition technology” in the
tourism industry. Once in a while, a technique comes which forces the tourist industry to think,
voice recognition technology is one of them. In this report, the emerging technology of “voice
recognition” in tours and travel industry is explained. The short-term strategy to validate the
product is discussed in this report. It is different from when customers type something for search
but now customers can just speak and search.
This report will help in launch of innovative and effective technology that is minimal viable
product (MVP), to help a customer is highlighted in this report. Artificial intelligence is also now
a part of effective technology and computers now have the ability to recognize the voice so
Cosmos Tours and Travels company will also consider this. This report provides a detailed
strategy plan to launch the MVP device for the organization with effective short-term and long-
term strategy to launch an MVP. Every year, searches in “cosmos tours and travel company” in
tourism are increasing at a rate of 52%. Furthermore, use of voice commands rather than typing
is increasing and it helps in effectively searching the attractive destinations. So “Cosmos” will
look forward to launching the MVP device for increasing the business with this latest
technology. Finally, the process roadmap along with the cost-benefit analysis is provided for the
launch of the MVP device for the Cosmos Company.
Additionally, the launch of this product will be a boon to the industry and will enhance the
competitive advantage for the organization and make the search easier for consumers and
provide the required information.
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Contents
Introduction......................................................................................................................................3
Strategy Plan....................................................................................................................................4
1. Strategy.................................................................................................................................4
A. Short-term strategy to launch a Minimum valuable product.........................................5
B. Longer-term strategy to iterate the product with additional features and develop a viable
business model...........................................................................................................................11
i. Mission and Vision of the long-term strategy.................................................................12
ii. Goals and Objective....................................................................................................13
iii. Use Cases....................................................................................................................14
iv. Cost-Benefit Analysis..................................................................................................15
C. Product Roadmap............................................................................................................16
D. Minimum viable product for voice recognition..............................................................17
E. Issues and integrations of voice recognition...................................................................18
F. Conclusion..........................................................................................................................19
References......................................................................................................................................20
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Introduction
In this report, the strategic plan for the launch of the MVP device by the Cosmos Tours and
Travels is discussed in detail. The strategic plan includes the effective short-term as well as a
long-term strategy to launch MVP for the company. The increase in the searches by the
consumers every year will be made easier with the launch of this technology. The report will
help in developing the product roadmap and MVP for voice recognition. Finally, at the end of
the report, the issues related to the voice recognition device will be analysed and evaluated in
order to better understand the strategic plan for the company. Additionally, with the growing use
of technology in the tourism industry, use of voice commands rather than typing is considered an
effective strategy to search attractive destinations. Therefore the "Cosmos" is looking forward to
launching the MVP device to increase and develop the business. Finally, use of this technology
will help the industry in positively. In the end, the process roadmap for the short-term and long-
term strategies along with the cost-benefit analysis for launching MVP device for the Cosmos
Company is done.
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Strategy Plan
1. Strategy
Strategies do what organizations and their managers do and that is to help in explaining the
things and manage them. Strategies are used to fulfil the certain purposes, in that some are short-
term and some are long-term in nature.
Strategies are game plans by organizations which are only to fulfil the organization's objective.
As business strategies cannot differentiate but it is said that it is of three types-
 Cost Leadership
 Differentiation
 Focus (Differentiate and cost)
- In Cost Leadership, Company’s target is to produce the products and offers with minimum
cost in comparison to the other companies (Reinhold, et. al., 2017). It can be done by a copy
of the products of existing ones rather than creating new ones. On this basis, companies can
develop the products depends on the industry and abilities of the organization at a very
minimum cost.
- In Differentiate, organizations try to differentiate themselves from the other companies by
developing the products which are superior to theirs. It includes the ability of the
organization of marketing their product and distributing them.
- In Focus, its main goal was to limit the area of competition. It can be done by putting a
particular strength of buyers in focus. Differentiation focus and cost focus will be the main
approaches here.
Every strategy is a unique approach to sustaining a competitive outlook. For this organizations
have to understand the product-consumer relationship. Do the things which people expect to
experience when away from their home and always give priority to “cosmos” customer. Always
keep in the mind marketing strategies and objectives but try to fulfil “Cosmos” customer’s all
desires (Daniel, et. al., 2017).
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A. Short-term strategy to launch a Minimum valuable product
- A minimum valuable product is a product which consists of a set of core features. It used to
set a business idea and to analyse user’s feedback.
- To get customer’s feedback before launching a product, it was the main idea of the minimum
valuable product. It can escape “Cosmos” from failures of the product after launching and
big losses (Ivanov, et. al., 2017).
- Though it seems simple it is very complicated to understand that’s why some organizations
still misunderstand the concept of the minimum valuable product.
- Companies should make their initial product very easy and simple to understand with their
key functions rather than making it complicated and hard to understand.
- In starting MVP should represent the product in the basic form.
- The minimum valuable product has three types of this-
1. Piecemeal MVP
2. Concierge MVP
3. Wizard of Oz MVP
1. By Piecemeal MVP, an organization can introduce a product with minimum cost in a smart
way. It consists of the idea to use existing solutions and tools to make the “Cosmos”
company’s product and by putting multiple sources from multiple things to make a single
product. It literally consists of the components from various sources for the company and
helps in making the foundation for the launch of the product (Cook, et. al., 2014). This
method is most used by the companies as it is a very cost effective method and is considered
as a smart way of introducing a product to various consumers and the customers who are also
the stakeholders for the company. It is an effective idea for getting feedback from users is to
find the group of people who are willing to try the “Cosmos” company’s product and then
analyse the data and select sample of that. After validating the idea, “Cosmos” use a website
or an app for taking the user’s feedback, identifying the data and match the products by itself.
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