TripAR: Exploring Innovation and Entrepreneurship in Tourism Sector

This project analyzes TripAR, a new tourism agency leveraging augmented reality and virtual reality to provide tourists with an enhanced mobile application experience, including 360° views of hotels and live feeds of destinations. The project encompasses a PEST analysis, identifying the business as a 'question mark' in the BCG matrix, and details the customer segmentation based on geographic, demographic, psychographic, and behavioral factors, targeting primary customers aged 25-35. The marketing strategy focuses on public relations and press releases to promote the application, while financial considerations include securing investments and shareholder support for an initial funding of $10,000. The analysis provides a comprehensive overview of the startup's strategic approach and operational considerations.

INNOVATION AND
ENTREPRENEURSHIP

Innovation in the organization
 Technological advancement in tourism is a new
phenomenon that changes the business orientation of the
tourism and hospitality to a great extent.
 Augmented reality and virtual reality are the advanced
technologies used in current tourism industry across the
world.
 The new Start-up, TripAR, is looking forward to the
opportunity of delivering a new mobile based application
for the tourists.
 It provides next-gen experience to the tourists by providing
360° view of the hotels and live feed of the destination,
nearby restaurants and transport services to the tourists.

PEST Analysis
Factors Explanation
Political • Stability in the politics facilitates positive impact for
the development of positive tourism infrastructure.
• The local governments are also interested on
establishing better tourism.
Economic • Globalization transforms the prospect of tourism to a
great extent.
• The flexible money transfer and availability creates
better opportunity for the growth of tourism.
Social • The cultural understanding and differences create
impetus to the tourism industry.
• Language barrier is a very significant problem for
international tourism.
Technological • Advance technology in terms of AR and VR influence
the tourism business.
• People are also interested to get advanced
technology even in tourism service.

BCG matrix
• The new tourism agency, TripAR’s business initiative is
based on the question mark quadrant where high market
growth and low market share can be deliver.
• The question mark quadrant is focused on the high market
growth of the product. It means the product will get more
popularity within the market.
• However, the product does not have enough market share
because of its limited customer expansion.

Customer segmentation
– Geographic- Urban areas and international market are considered to the
preliminary segmented customer base of the service.
– Demographic- People from the age from 25-45 are considered to be the potential
customers of the service. There is no gender biasness among the potential
consumers. Both bachelors and newly married couples are identified the customers
of the service.
– Psychographic- People from any income barrier can download the application. Most
of them are aspirer and explorer.
– Behavioral- The consumers are switchers and speed of service and advanced
features will be the potential behavioral characters of the customers.

Target market
– The primary market of TripAR is belonged to the age group of 25-35.
– The primary target customers are highly aware of the advanced technology and
willing the use cutting edge technologies.
– The customers are explorer but focus on the quality of service.
– The income level of the primary target customers is medium to high.
– Mostly bachelors consumers are identified as the primary target customers of
new business initiative.

Potential customers
 There are secondary customers from the age group of 35-40.
 The are belonged to high income group with an exploring lifestyle.
 Focusing on the quality service and facilities are identified as the
major features of the organization.
 The tertiary target customers are belonged to the age group of 40-45.
 The are focused on the quality of service and try to get premium
services in low price.

COMPETITOR ANALYSIS
Factors TripAR Topdeck Indus travel
Human resource Low High Medium
Financial resource Medium High High
Physical resource Medium High Low
Intellectual
resource
High High Medium

MARKETING STRATEGY
• THE MARKETING STRATEGY OF TRIPAR WILL BE BASED ON PUBLIC
RELATIONS AND PRESS RELEASE.
• THE ROLE OF PUBLIC RELATION IN MARKETING IS ASSOCIATED WITH
CREATING THE POPULAR PSYCHE AMONG THE PEOPLE SO THAT
THEY CAN USE THE NEW APPLICATION.
• PRESS RELEASE WILL ALSO BE INCORPORATED IN THE BUSINESS AS
A MARKETING TOOL TO PROMOTE THE TRIPAR TOURISM AGENCY.
• IT IS UNDOUBTEDLY ONE OF THE VIABLE MARKETING CHANNELS
WITH THE CHARACTERISTICS OF SCALABLE AND CHEAP.

Financial consideration
 The funding source for developing the TripAR is based on the investors
and shareholders.
 Investors should get the value of the product and its strategic
advantage in the competitive market.
 The shareholders should continue their investment so that the product
will be developed in time.
 The initial fund has to be of $10,000.

THANK YOU