4) Make My Trip
4) Make My Trip
4) Make My Trip
Makemytrip is one of the India’s largest tourism industry which was founded in the year 2000.It
is headquartered in gurugram, Haryana,India.This industry provides the online ticket services
which includes airline tickets, domestic and international holiday packages,online booking of
tickets of railways and buses ,hotel reservations etc.In 31st march 2018 , they have 14 companies
owned travel stores in 14 cities, over 30 franchises which owns travelling stores in 28 cities , and
countries in four major airports of india.This industry also has numerous international offices in
new york, Singapore, dubai, Bangkok, Phuket, lumpur etc.
This industry provides flight tickets to many hotels , apartments, railways and buses, cab
services etc on their portal . They ease the work of peoples a lot.In 2012 , they have launched
they have travel mobile applications for iphones , android users, blackberry devices etc.The
industry route planner provides all the basic required information on more than 1 million routes
in india. They also offer metro train tickets in some bigger cities like Hyderabad . This industry
has undertaken various steps to make stress free travelling for peoples and makes them feel
comfortable.
HISTORY
1) In the year 2000 , MakeMyTrip online travel or tourism industry was founded in the year
2000.It wsa founded by Deep kalra , He is the alumnus of IIIM ahemdabad.The headquarters are
located in the gurugram, Haryana, india. It was launched in US to cater to the overseas indian
community for their US to travel needs.
2) In the year 2005, they have started indian operations for offering online flight tickets to Indian
travellers in the month of September.They have also started to focus on non air businesses like
holiday packages and online bookings.
3) In the year 2011 , they have started online apps which can be controlled from various mobile
devices like androids, iphones etc.This industry has also made 3 acquisitions i.e, Luxury tours
and travel private limited, ITC group hotels and ETB group so as to expand their markets in
areas like Europe.
4) In the year 2015 , they have made acquisition with MyGola .This was made through the
innovation fund and all employees of MyGola which were absorbed into the MakeMyTrip team.
5) In the month of July 2015, They have invested in the hotel review portal Holiday IQ and have
invested in 30% shares in the company.
6) In the year 2016, Ctrip , chinese online travel booking company agreed to invest in the
MakeMyTrip for about 180million dollars.
7) In the year 2018, they have owned travel stores in 14 cities in their office in gurugram,
harayana , over 30 franchisee owned travel stores which primarily sells their packages in
approximately 28 cities and in four major airport cities under their brand.
8) In the year 2021 , they have started their partnership with AmazonPay for digital payment so
that they can provide travel services on Amazon.
VISION AND MISSION STATEMENT
MISSION STATEMENT
MakeMyTrip mission statement is”To provide customers a one stop shop for all their travel
needs”.MMT aims to give the best possible user experience across their entire travel journey, It
includes effective planning resources , superior booking experiences across all channels and in
journey 24*7 live customer support.
VISION STATEMENT
MakeMyTrip vision is “ To make travel simple and fun for all” and our core values guide us in
making this possible.These core values can be seen in the projects that we undertake , and the
way in which they solve problems for their customers.They are a representation of OUR BEING
& OUR DOING.
VALUE PROPOSITION
1)The core value proposition of MMT is that it provides the best values to their customers at
their convenience.
Mission Statement
MakeMyTrip has stayed ahead of the curve by continually evolving its technology
to meet the ever-changing demands of the rapidly developing global travel market
Vision Statement
MakeMyTrip's rise has been led by the vision and the spirit of each one of its
employees, for whom no idea was too big and no problem too difficult.
Values
• Spirit
• Determination
Products
railways tickets, bus tickets, car rentals, customer care support, etc.
a. Air Travel
It includes
➢ Domestic flights in India
Air travel constitutes 77% of the net revenues of MMT. Their major share of
transaction
It includes:
It constitutes 20% of the net revenue. The majority of transaction traffic is offline
with a 60%
share.
c. Other Segments:
It includes:
➢ Ancillary services/products
New entrants in the General Entertainment industry provide innovation and new
ways of doing things, putting pressure on MakeMyTrip Limited to lower prices,
cut costs, and provide new value propositions to clients. To maintain its
competitive advantage, MakeMyTrip Limited must manage all of these problems
and erect effective barriers.
Through the development of new products and services. New items not only attract
new customers, but they also give existing customers an incentive to purchase
MakeMyTrip Limited's products.
By achieving economies of scale, the fixed cost per unit can be reduced.
Investing in research and development and building capacities. Newcomers are less
likely to enter a dynamic business where established firms like MakeMyTrip
Limited are constantly defining the norms. It drastically decreases the window of
opportunity for new businesses to make spectacular profits, discouraging new
entrants into the field.
Almost every company in the General Entertainment industry obtains its raw
materials from a variety of sources. Suppliers with a strong position in the market
can reduce MakeMyTrip Limited's market margins. Suppliers with clout in the
Services industry utilise their clout to extort higher prices from companies in the
General Entertainment field. Higher supplier bargaining strength has the overall
effect of reducing General Entertainment's total profitability.
How can MakeMyTrip Limited deal with Supplier Bargaining Power?
By experimenting with product designs using many materials, the company can transition to a
different raw material if the price of one rises.
Creating devoted suppliers who rely on the company for their livelihood. One of the things
MakeMyTrip Limited can learn from Wal-Mart and Nike is how they built third-party
manufacturers whose entire company is dependent on them, resulting in a situation where these
third-party manufacturers have substantially less bargaining leverage than Wal-Mart and Nike.
Buyers can be a demanding bunch. They aim to get the greatest deal possible by paying the least
amount of money feasible. In the long run, this put a strain on MakeMyTrip Limited's
profitability. Customers' negotiating strength and capacity to seek rising discounts and offers
increases as MakeMyTrip Limited's customer base becomes smaller and more powerful.
By establishing a broad consumer base. This is beneficial in two ways. It will lower buyers'
bargaining power and provide the company the opportunity to streamline its sales and production
processes.
By developing new items at a rapid pace. Customers frequently seek discounts and special offers
on well-known products, therefore if MakeMyTrip Limited continues to introduce new products,
it may reduce customers' negotiating power.
Existing MakeMyTrip Limited consumers will be less likely to defect to competitors as a result
of the new goods.
When a new product or service meets a similar customer needs in different ways,
industry profitability suffers. For example services like Dropbox and Google Drive
are substitute to storage hardware drives. The threat of a substitute product or
service is high if it offers a value proposition that is uniquely different from present
offerings of the industry.
How MakeMyTrip Limited can tackle the Treat of Substitute Products / Services
By understanding the core need of the customer rather than what the customer is
buying.
If there is fierce competition among current participants in a sector, prices will fall
and the industry's overall profitability will suffer. MakeMyTrip Limited competes
in a highly crowded General Entertainment market. This competition has a
negative impact on the organization's overall long-term profitability.
Rather than fighting for a tiny market, collaborate with competitors to expand the
market.
MakeMyTrip Limited strategists can acquire a thorough view of what effects the
profitability of the company in the General Entertainment market by examining all
five competitive forces. They have the ability to spot game-changing trends early
on and move quickly to seize the opportunity. Managers at MakeMyTrip Limited
may mould the Porter Five Forces in their favour by thoroughly understanding
them.
company raised the next series of funding i.e. $13 million. Further in 2007, one
more series
of funding of $15 million was generated. The brand received $180 million in its
IPO which
was launched in 2016. In another IPO in 2017, $330 million were raised. The
brand raised a
Revenue generation
MakeMyTrip's Air Ticketing business produces revenue by selling domestic and
international airline tickets to customers via an online platform. By providing hotel
reservations and holiday packages, the hotel and holiday package segment
contributes to revenue. by utilising a web-based platform Income is one of the
other revenue-generating segments. advertising revenue generated by displaying
advertisements on websites, revenue generated by selling bus and train tickets
The firm is able to keep its net worth at a high level. The mode of
transportation in addition, section helps to a high revenue margin.. The company
has recorded vigorous growth in Quarter 1 of FY2020. As per the company, air
business contributes 35 percent in total revenue, and the bus transport segment
generates 10 percent of the revenue. The company has also started an intra-city cab
facility in selected locations.
weekend trips, other activities, and events were introduced. Domestic travel is the
most popular. 60 percent of the earnings from airline tickets Similarly, 85-90
percent of the company's revenue Domestic travel is the source of hotel revenue.
MakeMyTrip has brought in $146.9 million in income. It was $118 million in the
third quarter of FY 2019-2020, compared to $118 million in the second. quarter of
the previous fiscal year In addition, the company's losses have been cut in half.
comparing the third quarter of FY2020 to the third quarter of FY2019 In general,
The revenue for the fiscal year 2019-2020 is $526.8 million.
5. Campaign
MakeMyTrip Land, or simply MMT Land, is the name of the campaign created by
our student. The primary premise of the Make My Trip marketing strategy is to
target all of those half-formed and never-fulfilled plans that college students and
working freshmen make. This advertising is here with a group that makes an offer
that even the group's introverts can't reject, allowing them to create memories from
the "Goa Trip that Never Happened."
College students, festival goers, young adults, interns, freshmen, and full-
fledged employees between the ages of 18 and 24 are the primary and secondary
customer personas. Gender is the primary distinction between the two identities.
Because this campaign is going live in India's college fests, the students have
chosen this make my trip marketing technique. Females make sense as a secondary
audience since, regrettably, they have permission difficulties and a slew of other
personal factors to consider before booking a trip with friends and coworkers,
which could stymie a direct sell. Males, on the other hand, have fewer factors to
consider and are thus easier to persuade. The primary considerations are as
follows:
➢ Age of 24-44
➢ Deal hunters
➢ Early adopters
Email marketing
Reminder e-mails with appealing subject lines and descriptions are part of the
students' e-mail marketing strategy. Some of the e-mails will include a link to the
home page, others to blogs, and still others to video montages of offline activities
at various college fests.
Here, social media strategy and marketing play a role. In February 2016,
MakeMyTrip teamed up with the dynamic duo of Alia Bhatt and Ranveer Singh to
create a series of hilarious and clever television commercials that appeal to both
young and old audiences. This is why our students decided not to modify the
brand's endorsers and instead intended to create a series of video ads to promote
their campaign on YouTube, Facebook, and IGTV.
Alia and Ranveer will narrate their "MMT Ke Kisse" or Stories with MMT to their
grandchildren and show flashback memories in the ads, which will be in a "to-be-
continued" format. Each of the five destinations chosen by our students will be
featured in these pieces.
Content congregators
Our students have selected novel phrases like "what should I do after 12th," "I need
a break," "what to do when I'm bored," "courses after 12th commerce/science/arts,"
and so on, so that when the target audience Googles these keywords, the MMT
Land meta tags and display advertising show.
Innovation
Along with the primary campaign, our students have devised a unique campaign to
ensure that no stone is left unturned. The creative campaign will target all tier 3
colleges and schools, as the main campaign concentrates on tier 1 and tier 2 college
flagship events and university fests.
In this campaign, a MakeMyTrip-themed school bus will be sent out, and after a
day of engaging activities and prize-winning, MakeMyTrip will ask all students to
write down their dream destination and one activity they've always wanted to do
there, such as deep-sea diving in the Maldives or cycling across the plains of
Kerala. MakeMyTrip will notify 5 lucky winners after gathering all of the wishes.
Customer segments
Key partners
MakeMyTrip's key partners are various investors who have funded the company
from time to time. Tiger Fund, Helion Venture Partners, SAIF Partners, Sierra
Ventures, Ctrip, and others are among them. These companies make periodic
investments in the company.
Key resources
Human resources and other organisational resources are the primary drivers of
MakeMyTrip's growth and success.
Human resources
The brand's long-term competitive edge is its people, or human resources. The
company's personnel is self-sufficient and autonomous. The team consists of like-
minded young technologists with managerial and technical abilities. Another
important asset of the company is its own technology, which functions as a search
engine. It delivers offers based on the best comparison because it is a user-friendly
platform technology. MakeMyTrip's success is largely due to its usage of mobile
technologies for sales and support. The brand's rules also play an important role in
its performance, such as the company's recruitment policy, which focuses on
acquiring the best personnel with specific domain-specific expertise so that site
users are supplied with highly tailored and relevant content.
Key activities
Different key activities of MakeMyTrip include booking of the air, bus, rail tickets,
hotel booking, holiday packages, car hire, etc. Other travel-related services that are
offered by third party vendors like travel insurance and visa processing are also
accessible through the company. MakeMyTrip lets the users book air tickets, bus
tickets, buy holiday packages, book hotels and accommodations and hire a car.
Through MakeMyTrip, users can also access other travel-related services provided
by third-party vendors like visa processing and travel insurance.
Channels
MakeMyTrip's main activities include air, bus, and rail ticket bookings, hotel
bookings, vacation packages, and car rental, among others. Other travel-related
services such as travel insurance and visa processing are also available through the
organisation, which are provided by third-party suppliers. Users can use
MakeMyTrip to book airline tickets, bus tickets, vacation packages, hotels &
lodgings, and vehicle rentals. Users can also utilise MakeMyTrip to access various
travel-related services such as visa processing and travel insurance, which are
provided by third-party merchants.
Customer relationship
An in-house CRM tool, MyDesk, is built for its call centre customer care service. It
integrates chat and audio channels with analytical tools and dashboards in a
seamless manner. This equips agents with the tools and information they need to
efficiently handle consumer inquiries. Another component developed to assist
travellers in making travel decisions is "trip ideas," which guides them through trip
planning, destination discovery, and identification of personal travel preferences.
Another similar service is "Journey Assist," which functions as a personal travel
assistant for consumers throughout their trip. Similarly, “Trip Money” is there to
support customers to take loan approval for buying their desired tour-package.
Key growth
3. In 2008, for hotel searches and Indian passengers, domestic vacation trip
packages were established.
4. In 2009, the brand expanded its offerings to include bus ticketing and the ability
to book reservations for multiple cities. For Emirates markets, it launched
makemytrip.ae.
6. In 2016, the merger with Goibibo, one of the largest competitors in the online
travel industry market, was announced, and the merger took place in 2017. It was
the largest merger in the travel business at the time.
Key decisions
2. Increase the number of services and products in your portfolio to increase cross-
selling opportunities.
Along with Google display ads and banner ads which will lead to the landing page
upon receiving a click, Our students have targeted novel phrases such as "what
should I do after 12th," "I need a break," "what to do when I'm bored," "courses
after 12th commerce/science/arts," and so on, so that when the target audience
Googles these keywords, the MMT Land meta tags and display advertisements
show.
Along with the primary campaign, our students have devised a unique campaign to
ensure that no stone is left unturned. The creative campaign will target all tier 3
colleges and schools, as the main campaign concentrates on tier 1 and tier 2 college
flagship events and university fests.
In this campaign, a MakeMyTrip-themed school bus will be sent out, and after a
day of engaging activities and prize-winning, MakeMyTrip will ask all students to
write down their dream destination and one activity they've always wanted to do
there, such as deep-sea diving in the Maldives or cycling across the plains of
Kerala.