Malaysia has become one of the most attractive touristry finishs and attracts 1000s of touristry throughout the twelvemonth. Besides touristry, Malaysia is a progressive economic system with a important growing rate with its economic system diversified in assorted sectors including crude oil and gum elastic thenars. Malayan economic policy has hence opened doors for moneymaking investing chances for investors around the universe. This paper aims at measuring the chances of get downing a touristry concern in Malaysia, named “Travelaysia” .
Malaysia is one of the most feasible states in the universe for a touristry related concern. This is because of immense touristry chances in the state. The touristry run launched by the authorities of Malaysia, ‘Malaysia Truly Asia ‘ is one of the strongest official touristry runs launched by any state. This has made Malaysia one of the most preferable tourer finishs around the universe. Malaysia is non merely a place of varied topographies, but has a besides a colourful pallet of assorted civilizations shacking in the state. While the 6o per centum bulk in the state is Muslim, other ethnicities including Buddhists, Hindus and Christians besides live in the state. Apart from Malayan locals, people with cultural backgrounds arising from China and India are besides normally found in the state. Malaysia celebrates the cultural celebrations of all the major ethnicities shacking in the state which makes Malaysia an ideal topographic point to see anytime in the twelvemonth. Furthermore, the clime is moderate and favourable. From hill Stationss to beach resorts, from casinos and subject Parkss to big shopping promenades and dark markets, Malaysia offers something for every one.
Keeping in position the moneymaking chances that the Malayan touristry industry holds, a new venture is being launched in the Malayan touristry industry named ‘Travelaysia ‘ . The concern has both concerns to consumer ( B2C ) every bit good as concern to concern ( B2B ) chances.
The aim of Travelaysia is to advance strong Business to Business ( B2B ) and Business 2 Consumer ( B2C ) relationships and to construct a strong trade name image of Travelaysia as a circuit company that is wholly different from the 1s that merely be. Since, most of the visited topographic points and circuit bundles in Malaysia such as Genting Highlands and Langkawi, are now rather good known and predictable, the thought of Travelaysia is to research newer topographic points in the state and design advanced circuit bundles that is non offered by any other touristry company. This will include tourer activities that will be entirely designed by the company and offered to ‘Travelaysia ‘ clients merely.
Global Business Environment
The concern environment for Travelaysia is influenced by both internal and external forces. These forces include political, economical, technological, societal, environmental and legal influences
Any kind of concern refering to touristry or touristry related activity in Malaysia would be really executable every bit far as the state ‘s political environment is concerned. The state is non merely politically stable, but the touristry industry enjoys huge support from the authorities. Ever since the former premier curate Mahattir Mohammed ‘s reign, the political leading has strived non merely to develop alone tourer attractive forces, but has besides sharply promoted Malaysia as one of the most ‘happening ‘ tourer finishs in the universe. This makes ‘Travelaysia ‘ a really feasible venture on the political forepart.
The economic environment of Malaysia is every bit favourable as the political one non merely for a B2C venture, but besides for the B2B facet of the concern. Malaysia has a strong economic theoretical account. Even in the terrible planetary recessive times, the state managed to maintain the rising prices rates and the unemployment rate under control and the Malayan currency is a really stable one. In the context of touristry, the current recessive force per unit areas around the universe lend even more to the feasibleness of Travelaysia. This is because circuit bundles for Malaysia are much cheaper as compared to that of many tourer finishs around the universe. Ever since the difficult striking recession experienced by United Arab Emirates, Malaysia today is now considered as a Eden for foreign investors with huge chances available in assorted sectors due to handiness of cheaper resources and skilled labour.
As mentioned earlier, Malaysia is a multi cultural society, where non merely peaceable coexistence of varied civilizations is promoted in one land, but Malaysia as a state takes pride in the fact that all civilizations, irrespective of the proportion in which it exists is given equal importance. Almost all major cultural festivals including Eid, Chinese New Year, Diwali and Christmas are celebrated on big graduated table and are incorporated as a tool for advancing touristry in Malaysia. The authorities ensures that particular agreements are made for all these cultural festivals and tourers from around the universe are attracted to be a portion of witnessing assorted civilizations all at the same clip.
Another societal strength of Malaysia is the etiquette of its people. Malayan people are good groomed, good mannered and good educated and are rather hospitable and warm towards foreign invitees.
Malaysia is known for its rapid and uninterrupted technological advancement. This will assist beef uping the Business to Business dimension of the proposed venture, which will in bend have positive and progressive deductions on the Business to Consumers dimension. The rapid promotion in engineering sector has resulted in outgrowth of universe category subject Parkss such as Genting Highlands along with other hello tech amusement installations. The being of progressive technological substructure and Information and Communication Technologies in Malaysia does non merely attract leisure touristry, but besides opens chances for corporate touristry.
During the recent yesteryear, Malaysia has started to bask an border over many other states every bit far as inexpensive energy resources are concerned. Malaysia has its ain crude oil production and natural resources are abundant in the state which makes power supplies really cheap in the state as compared to other states.
Malaysia is a place of natural beauty including beautiful hill Stationss, beaches and a really good planned capital Kualalumpur and the administrative centre, Putra Jaya. Malaysia has emerged as a Eden for natural beauty lovers.
One of the greatest positive facets of Malaysia is its relaxed legal formalities and relaxed embassy Torahs. The process to achieve a Malayan visa is rather hassle free unlike many states ( Akhter, 2003 ) . Many states around the universe enjoy visa freedom under Malayan jurisprudence and the visa fee for most states is minimum.
In instance of Travelaysia, the fact more and more figure of tourers are sing the Malayan district and that the Malayan touristry has grown by around 10 % in 2007 which creates a big spread for extra people to put in the touristry concern and to capture the touristry market. The increased globalisation, the coming of E-commerce and the promotion in satellite media has resulted in the universe coming closer together. This has created more chances for the development of touristry industry as more people would now desire to go in order to see the reliable civilizations of different geographical parts.
Since Travelaysia is a third sector concern, interest holders are vastly of import for the concern. The major stakeholders for Travelaysia include consumers which will be tourers to Malaysia, the house ‘s employees, the rivals, which include other travel agents and circuit operators. Apart from that, authorities is besides an of import stakeholder as at the terminal of the twenty-four hours it is the authorities that controls Torahs and ordinances refering to tourist industry such as visa and embassy issues.
A rival is company that satisfies the same client demand ( Kotler and Keller, 2009 ) . The services offered by Travelaysia will be alone to a big extent. Travelaysia Malaysia operates in both the B2C and B2B sectors. In the B2C sector, rivals like ‘Holiday Travels, ‘Go Asia Travels and ‘Artisans of Leisure ‘ offer bundles concentrating on the large metropoliss in Malaysia like Kualalumpur. However, they still do non present much menace to Travelaysia because every bit mentioned earlier, leisure tourers do non prefer fusss of metropoliss like Kualalumpur. The chief focal point of Travelaysia will be countries that are known for scenic beauty, cultural heritage, and has to offer something genuinely Malayan.
There are many touristry companies that are offering Malayan tourers. However, the industry is still non saturated as the touristry industry in Malaysia is still in its growing phase. Furthermore, most tourer companies offer bundles for conventional tourer finishs such as Langkawi and Genting Highlands. The thought of ‘Travelaysia ‘ is non merely to research newer finishs in Malaysia, but besides to offer advanced tourer activities.
Menace of New Entrants
Given the huge support provided by the authorities of Malaysia to the touristry industry, the barriers of entry are rather relaxed. Sing this, every concern come ining the Malayan touristry sector will hold to guarantee singularity in order to go successful.
Dickering Power of Suppliers ( Partners ) :
The service spouses of Travelaysia include internet service suppliers and outsourced transporters. Since the market is really competitory, these providers are more of the monetary value takers and have weak bargaining power.
Dickering Power of Buyers
There is a batch of competition in the touristry concern, nevertheless since most mainstream circuit companies offer advanced services and each have their ain alone merchandising point, there is small dickering power that the clients enjoy. However, in order to increase client base, Travelaysia will offer seamster made circuits bundles including, 5-star, 4 – star and 3 – star bundles that are priced to accommodate people from different economical backgrounds.
Majority of tour companies focus on packaged circuit and besides aim Malayan domestic clients. There are a smattering of companies making international touristry concern through B2B partnerships. Very few companies are making confer withing services for local touristry organic structures ( B2B ) . Since Malaysia is now emerging as one of the most of import corporate hubs, Travelaysia plans to plan advanced corporate bundles for the B2B market, and small competition exists in that sector. Furthermore, Travelaysia will besides plan alone tourer activities that will be provided merely to Travelaysia clients.
* Product – Travelaysia offers alone circuit bundles that are tailor made to accommodate the penchants of assorted client groups depending on their fiscal budget and their intent of visit ( Kotler & A ; Keller ) . While most tour companies focus on already celebrated and known finishs in Malaysia such as Genting Highland and Langkawi, Travelaysia aims at researching newer and non so celebrated but potentially attractive newer finishs such as Cameroon Highlands.
* Promotion – The focal point of the overall promotional scheme is traveling to be on constructing a alone trade name image and make trade name trueness among Travelaysia ‘s clients. Besides utilizing conventional telecasting and tour magazines, Travelaysia will establish an aggressive run through societal networking media such as Facebook and Twitter. A big proportion of Travelaysia ‘s targeted market is a regular user of societal media. Furthermore, the selling costs of utilizing societal selling are much more economical as compared to the conventional selling methods and the coverage is much higher every bit good.
For a more direct and one to one relationship with clients, Travelaysia will besides take part in tour carnivals organized by the authorities of Malaysia and other international states.
Existing clients would be encouraged to do ‘word of oral cavity ‘ referrals. Those who do so would be rewarded through gross revenues publicities such as hotel upgrades.The above would be supplemented at origin through direct selling runs launched by placing high net worth persons and reaching them via Email and telephone.
* Price – The pricing scheme of Travelaysia is traveling to be a really market oriented one. Travelaysia will plan circuit bundles that are tailored to accommodate assorted market sections that are segmented harmonizing to income groups and intent of visit ( Kotler & A ; Keller, 2008 ) . Since there are varied options of adjustment are available in Malaysia, planing economical bundles will non be hard.
* Place / Channels – Tour bundles on the international degree will be sold via cyberspace. Customers will hold the option of booking their bundles online. For domestic clients, the option of the company ‘s caput office will besides be available. Tours can besides be booked via telephone.