Designing Tour Products: A Business Decision Making Project Report

This project focuses on designing a product for a tour and travel operator to meet diverse customer needs. It encompasses a four-part approach: creating a data collection plan using primary and secondary sources, evaluating statistical efficiency, presenting data analysis, and assessing feasibility through capital budgeting and critical path analysis. The project involves designing questionnaires to gather customer preferences and expectations, analyzing existing data, and using statistical tools to determine mean, median, mode, and interquartile range. The student uses this analysis to evaluate customer satisfaction, purchasing frequency, and willingness to purchase tour packages to various destinations. The project also uses capital budgeting techniques to ensure the project's feasibility, and information processing tools to supply information.

BUSINESS DECISION
MAKING

INTRODUCTION
Business complexities can be managed by taking right action at right time in order to
safeguard its business from its overall negative impact. This project is about designing a product
for tour and travel operator whose desire aim is to cater variety of needs and expectation of
various customers. This project report classified into four parts such as creating data collection
plan using bot primary and secondary method. Second part states about evaluating statistical
efficiency of the data and third part is all about presenting data and lastly it tells regarding
checking feasibility using capital budgeting tools and techniques, critical path of project and
supplying information using appropriate information processing tools.
TASK 1
1.1 Identify sources of primary and secondary sources of data
Research will be conducted by an entity in order to resolve al the issues faced y an
individual as solutions to all the problems will produce by conducting a particular research study.
The major objective of the researcher is to emphasize on various aspects covered in their
business in order to satisfy various customers exists in the external market as their desired aim is
to get higher customer satisfaction level (Brooks, Dula and Boone, 2013). The research can be
conducted collecting data from two particular approach such as primary and secondary collection
of data that helps an entity to support their overall research with good conclusion.
Primary collection of data- In this approach data will be taken from its original source to
remain its reliable and accuracy to support an entity in resolving all the current issues faced by
the researcher. Questionnaires are used to evaluate all the problems currently faced by customers
which will help in designing appropriate products according to the needs and the expectations of
various customers. Questionnaires are created by the researcher about different tour companies
such as existing data of Thomas cook will be assessed in relation to the tastes and preferences of
all the customers. Thomas Cook data will be analyzed in order to craft new strategies in order to
improve the existing performance of an entity.
Secondary collection of data- In this method data can be generated from the external source
using books and journals, new articles and magazines to generate reliable sources of data to
accomplish all the objectives of an entity.

1.2 Present survey methodology
Research methodologies are used by an entity that helps in generating higher business
performance by focusing on its weaknesses which helps in collecting important data (Golbraikh
and et.al., 2014). Sampling is one of the important method used by an entity that helps in
selecting import data in order to facilitate the researcher in obtaining reliable data.
Random sampling method used by the researcher to select the best suitable data which will help
an entity owner in generating reliable data. The accuracy o the data is regarded as the direct
weapon by the business as it is important for an entity in order to grab higher market
opportunities. In the current sampling process 90 respondents are chosen by the business to take
their opinion or consent about the outbound tourism that helps in generating higher outcomes for
the current business enterprise (Haq, Brown and Moltchanova, 2014). Major outcome of an
entity is to grab higher opportunities by enhancing overall skills and the capabilities of an
individual as it is essential approach followed by an entity. Random sampling gives equal
enhance to an individual to get selected in the process of sampling to provide ultimate benefit to
the researcher in generating higher outcomes in the near future.
1.3 Design questionnaire
Questionnaire
Name _______________
Gender
Male
Female
Transgender
Que. 1. How old are you?
 20-30 years old
 30-40 years old
 40-60 years old

 60 years and above
Que. 2: Do you think tour operator will be able to meet with your satisfaction level by providing
tour products ?
 Strongly disagree
 Disagree
 Neutral
 Agree
 Strongly agree
Que. 3: How often you are purchasing a tour package within one year ?
 Monthly
 Quarterly
 Half yearly
 Yearly
 Sometimes
Que. 4: You will buy a tour package or product for destination A such as Morocco in further
years ?
 Strongly disagree
 Disagree
 Neutral
 Agree
 Strongly agree
Que. 5. How much you are going to pay for tour package or product for every person or traveler
for the destination A like as Morocco ?

 £600 but less than 625
 £625 but less than 650
 £650 but less than 675
 £675 but less than 700
 £700 but less than 725
Que. 6. You will buy a tour package or product for destination B such as Turkey in upcoming
years ?
 Strongly disagree
 Disagree
 Neutral
 Agree
 Strongly agree
Que. 7: How much you will spend on the ravel package for the destination B like as Turkey ?
 £600 but less than 625
 £625 but less than 650
 £650 but less than 675
 £675 but less than 700
 £700 but less than 725
Que. 8: Are you going to buy package for Cuba destination in upcoming years ?
 Strongly disagree
 Disagree
 Neutral
 Agree

 Strongly agree
Que. 9. How much do you pay for booking ravel package for the destination like Cuba?
 £800 but less than 825
 £825 but less than 850
 £850 but less than 875
 £875 but less than 900
 £900 but less than 925
Que. 10. Will you book a tour package for destination D such as Dubai in near future?
 Strongly disagree
 Disagree
 Neutral
 Agree
 Strongly agree
Que. 11: How much you can pay for the tour destination Dubai?
 £900 but less than 925
 £925 but less than 950
 £950 but less than 975
 £975 but less than 1000
TASK 2
2.1 Summarizing of data
Number of customers agreed
500-1000 19

1000-1500 20
1500-2000 18
2000-2500 15
2500-3000 6
3000-3500 7
3500-4000 3
4000-4500 2
Costs of tour Number of customers
agreed
X FX
500-1000 19 750 14250
1000-1500 20 1250 25000
1500-2000 18 1750 31500
2000-2500 15 2250 33750
2500-3000 6 2750 16500
3000-3500 7 3250 22750
3500-4000 3 3750 11250
4000-4500 2 4250 8500
N 90 163500
Mean 1816.67
Costs of tour Number of customers
agreed
X CF
500-1000 19 750 19
1000-1500 20 1250 39
1500-2000 18 1750 57
2000-2500 15 2250 72
2500-3000 6 2750 78

3000-3500 7 3250 85
3500-4000 3 3750 88
4000-4500 2 4250 90
Median 45.5
Lower Limit 1500
N 45.5
Cf 39
f 18
I 500
Median L+N1-cf/f*i
Median 1680.555556
Mode 0
2.2 Analyze range of results
Mean: An average of set of value, as calculated as by adding them together and dividing by the
number of terms in the sets. Or simply mean or average when the context is clear, is sum of
collection of numbers divided by numbers of number in collection.
Median: Median is a value separating higher half of the data sampling of a population or a
probability distribution from the lower half (Mir and Pinnington, 2014). In simple term it may be
thought as a middle value of the data sets. For ex.(1,3,3,6,7,8,9,) median is 6, the fourth no. is
sample. Median is commonly used to measure the property of data sets in statistics and
probability theory. The formula used to find the middle number of a data set of n numbers is (n +
1) ÷ 2.
Mode: The number which appears most often in a set of number. For ex. (6,3,9,6,6,5,9,3) the
mod is 6 it occurs most often.
Arithmetic mean: In q. No. 2 average falls in 4.15. It gives information about option 4 is
majority of people agrees that tour package provided by company satisfies majority of people.
In Q.3 Mean is 3.3 which suggest how often people purchase tour package in 1 year. So majority
goes with half-yearly basis.

In Q.4. Mean number is 4.22 which means most of the people agrees that most of the people will
go for Destination A such as Morocco tour.
In Q. 5 mean is 3.07 which means most of the people would likely to pay £650 but less than 675
on tour package or product for every person or traveler for the destination A like as Morocco
(Beltrame, Cappelletto and Toniolo, 2014).
In Q. 6 Mean is 4.1 which means majority of people are agree to buy for a destination B package
for tour like Turkey.
Median: Q2 gives data 4.3 which suggest option 4 which is majority of people are satisfied that
tour package provided by company satisfies majority of people.
Q.3 Median is 3.4 suggest on half yearly basis people frequently purchase a tour package within
one year
Q.4 Median is 5 which means people strongly agree to buy a tour package or product for
destination A such as Morocco in further years.
Q.5 Median is 3 which shows option 3 that majority of people would like to spend £650 but less
than 675 is capable to pay on tour package or product for every person or traveller for the
destination A like as Morocco.
Q.6 Median is 4.26 which means majority of people are agree to buy for a destination B package
for tour like Turkey (Baum and Crosby, 2014).
Mode: In Q2, mode is 5 which means majority of people strongly believes that tour package
provided by company satisfies majority of people.
Q.3 Mode is 5 which means that majority of people opt for sometimes purchase tour package in
1 year.
Q.4 Mode is 5 which means people strongly agree to buy a tour package or product for
destination A such as Morocco in further years.
Q.5. Mode is 3 which is option 3 that majority of people would like to spend £650 but less than
675 is capable to pay on tour package or product for every person or traveller for the destination
A like as Morocco (Measures of Central Tendency, 2017).
Q.6. Mode is 5 which means majority of people are strongly agree to buy for a destination B
package for tour like Turkey.

2.3 Analyse data using suitable measures of dispersion
Inter quartile range
Particulars Amount
Q1 22.75
Q3 68.25
IQR Q3-Q1
IQR 45.5
Standard deviation
Costs of tour Number of
customers agreed
X X^2 Fx^2
500-1000 19 750 562500 10687500
1000-1500 20 1250 1562500 31250000
1500-2000 18 1750 3062500 55125000
2000-2500 15 2250 5062500 75937500
2500-3000 6 2750 7562500 45375000
3000-3500 7 3250 10562500 73937500
3500-4000 3 3750 14062500 42187500
4000-4500 2 4250 18062500 36125000
N 90 370625000
STD √(fx^2/n)
£2,030.00
Standard deviation: In statistical, SD measures the quantify amount of variations or dispersion
of set of data value. A low sd indicates that data point tend to be close to mean also called as
expected value of the set, While high SD indicates that data point are spread out over wide range
of value.

Q2: SD is 1.63 which strongly disagree, In Q3 SD is 1.46 people go for monthly in yr. In Q4.
SD is 1.09 which means people strongly disagree to by for Morocco for next further year. In Q5.
SD is 1.15 which means people will spend only £600 but less than 625 for Morocco (Irani,
2010). In Q6. SD is 1.09 which suggest people strongly disagree in going turkey.
2.4 Explain Quartile, percentile and correlation
Quartiles
Table 1: Computing quartile
Particulars Amount
Q1 22.75
Q3 68.25
TASK 3
3.1 Produce graphs and charts
Pie chart
For the year 2014
931
959
1104
713
For the year 2015