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If I get 1million for ebusiness of travel field, what should I do?

Posted on 2006-03-31
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Last Modified: 2010-04-27
What knowledge should I learn for doing it, specially in management and marketing.

How to exploring the market and how to set the market plan, is there any sample mode?


Thanks,

Turbot
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Question by:turbot_yu
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sk33v3 earned 2000 total points
ID: 16363930
well if you want to look at someone elses business model I would suggest looking at orbitz or travelocity. They have been successful. if you are talking about if you had 1 million dollars what should you do? I would suggest spending around 10-20 thousand on development(or as little as possible if above that figure) and save the rest for marketing. Marketing is going to be your number one cost, or should be. If you spend to much on development then you will have a nice system with no customers... however if you spend to little on development you will have alot of visitors but no turn over into customers. In my opinion trying to break into the online travel business is going to be difficult unless you specialize in one area of the world. Like specialized trips in the bahamas or Alaska. Even then I would guess it will be very difficult.
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by:turbot_yu
ID: 16377544
Really thankful for your precious suggestion. It gives me some hints from expert in this fields. Now I know a little what should be done and what not. Although I have not been to Alaska, but still want to have a try since the global market is very big, especially in asia. Now I want to spend 40k on development, but the rest how to spend is still not coming into my mind. I agree the market should be the number one.

I have looked into the 2 samples, they are really great, but cannot know wholely what they do in the market, may you give more suggestion?


Regards,

Turbot

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