She believes in living life to the fullest and hopes to convey the same enthusiasm through her words. Between 2015 and 2017, the company briefly dealt with the coal industry. Different key activities of MakeMyTrip include booking of the air, bus, rail tickets, hotel booking, holiday packages, car hire, etc. The company has also started an intra-city cab facility in selected locations. Businesses are able to manage their travel schedule and accommodation facility for their employees using different features of MyBiz like single dashboard system, Central payment processing through MyBiz wallet, and quick refund facility to MyBiz wallet on booking cancellations, etc. It was the source of most of the initial cash flow, and the brothers were able to earn good revenue. Our website services, content, and products are for informational purposes only. Hotels and holiday packages segment which is a non-flight business; is of higher-margin category as compare to airline ticketing, and by contributing 54 percent of total revenue; this segment is the highest revenue contributor of the brand. December 2011 marked a whopping 2.26 billion Internet users worldwide, 44.8 percent of who were from Asia, according to a paper published by the George Mason University. Mr. Rikant Pitti is the COO , Co-founder , and Whole-Time Director of EaseMyTrip is among the youngest entrepreneurs of India who has all the qualities of a … and also, most of the banks are on board. According to its website, EaseMyTrip has 7.5 million direct consumers, a B2B network of 42,000 travel agents, 1,200 franchise outlets, 1,600 distributors and 640 white label solutions. Since its inception in 2000, the company is facilitating a lot of travellers in booking online tickets of rail, flights, and buses, hotel booking both domestic and international, and different holiday packages all over the world. Another key resource of the company is its proprietary technology, which has the capability of a good search engine. In another IPO in 2017, $330 million were raised. Hotel and holiday package segment contributes to revenue by providing hotel reservations and holiday packages by using the internet-based platform. They did not have to spend a single buck to attain customers. The airline tickets are sold both separately and as a part of travel plans. Somewhere along the way, a third brother, Prashant Pitti also joined as a director after quitting his job with HSBC in the United States. The workforce of the company is autonomous and independent. EaseMyTrip commenced its operations in 2008 by focusing on the B2B2C (business to business to customer) distribution channel and providing travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India. Initial Phase and the Journey of Further Growth, Management Consulting Vs Strategy Consulting, Asset Management Companies Business Model, Sales Quota: Definition, Types, Importance, Wind Energy: Advantages and Disadvantages, Referral Marketing: Definition & Strategies. Even while the big fishes of online travel booking like MakeMyTrip and goibibo are struggling, EaseMyTrip claims to be profitable. To widen its revenue generation segments, the brand has also introduced weekend travels, other activities, and events. It was founded in 2008 by Nishant Pitti. Easemytrip founders – Nishant Pitti and Rikant Pitti. To book a hotel, flight, and holiday on mobile or desktop site is a great experience for customers as one can do the booking quickly in a hassle-free manner. Further in 2007, one more series of funding of $15 million was generated. MakeMyTrip was founded in the year 2000 by a Delhi based entrepreneur Deep Kalra who is an MBA from IIM Ahmedabad. With technological advancements, MakeMyTrip is able to take advantage of its competitors in the online market of travel. MakeMyTrip is able to maintain its leading position as an online travel company in India by technological advancements in its offerings to meet the ever-changing requirements of the global travel market developing at a fast rate. The overall revenue of FY 2019-2020 is $526.8 million. There are various such businesses in India, but recently, EaseMyTrip has become a rising brand among them. Otherwise, email us anytime. The company constantly improves its customer support services by adopting advanced and latest technology. 5.2 Business model statements as a tool to improve performance 23 6. Customers can make changes and cancel the booking anytime as MakeMyTrip provides very flexible services. It became the biggest merger in the travel industry. It provides seamless integration of chat and voice channels with analytical tools and dashboards. Savings. They bought coal worth 2.2 million USD to be resold. For better customer service and their convenience, the company has introduced three customer service channels i.e. One of the strong advantages of the brand over its competitors is that it develops customer services beyond the expectation of customers and creates an ever-lasting experience for its customers. It prefers to provide the most competitive and best environment for suppliers to demonstrate its products. In its call centre customer care service, an in-house CRM tool is designed i.e. Travel companies in India often face a run for their money due to the intense competition in this area. MakeMyTrip’s first series funding of $10 million was raised in 2005. Feel free to reach us at [email protected] for any change or copyright issues. He further experimented with his entrepreneurial skills by working with AMF Bowling for setting up bowling alleys in India. One such story of ‘Bootstrapped yet profitable’ business is that of travel eCommerce firm ‘EaseMyTrip’, which went from bootstrapping to Rs 1400 crore in annual turnover in 8 years. Free ready-to-eat meals were arranged for the customers as a part of this alliance. They would buy tickets from the airlines as a chunk using this amount, and this process gave them a considerable discount. More than 80% of queries of customers are being addressed by these chatbots and rest is taken care of by an offline human agent. When you need to pick a business model for your startup or new corporate venture, there are many options to explore.To make it easier, we’ve handpicked dozens of innovative revenue models and partnership ideas.. Browse these business model examples and copy the ideas that fit your company’s needs. The idea was formed in the minds of brothers Nishant Pitti and Rikant Pitti while they were booking flight tickets for their father who frequently had business trips. The brand focuses more on creating a long-lasting customer experience as compared to offering low-cost products and services. New Delhi-based Easy Trip Planners' easemytrip.com is enabling traders, who frequently fly for business, to become its agents through franchise retail outlets. Free modifications, free on-board meals, best rate guarantee for a wide range of hotels and GST Invoice Guarantee. Special discounted prices at premium hotels are also offered. The business to customer (B2C) services we’re initiated in 2011, which was primarily intended to satisfy the growing travel needs of the middle-class population. The brand has won many awards in the category of online travel agent and Travel agency spaces for its superior services and contribution to the travel industry. FAU-G vs. PUBG: Who’ll reach the Indian Gamer first? Payment services are also extremely smooth as various payment options are available like debit cards, net banking, credit cards, etc. MakeMyTrip provides one-stop-shop facility to its customers as the brand not only offers service in India but also extends its facilities for any international tour from India as well. The range is quite long... You have entered an incorrect email address! As per the company, air business contributes 35 percent in total revenue, and the bus transport segment generates 10 percent of the revenue. The chat interface of MakeMyTrip i.e. In the national study a model was developed that provides the basis for Circular Business Models (CBMs). To save the valuable time of their customers in planning for holidays, they also offer different holiday packages. The business platform allows them to book their air tickets and earn commissions as well. It is probably their customer-friendly approach and effective sales strategies that have earned them a significant market share in the field. Apart from this, the below-mentioned corporate value system of the company makes it unique over its competitors: The marketing strategy of MakeMyTrip is quite effective. This empowers agents by providing necessary tools and information to deal with queries of customers effectively. The company’s business model is uniquely poised to tap the growing Online Travel Market where customers can book flight tickets, hotels, bus tickets and holiday packages at a cost-effective price. The brothers have been able to raise their business into becoming one of the largest online travel agencies in India in terms of airline ticket sales. This model describes the transactions between a retailer or a wholesaler, or a wholesaler and manufacturer. Their services have always maintained a certain quality which played a role in building the brand name. 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. MakeMyTrip lets users book air tickets, bus tickets, buy holiday packages, book hotel accommodations, and hire vehicles. A Business model of any business includes below main elements: MakeMyTrip works on B2C (Business to customer) business model in which they facilitate their customers through booking their tickets online as it only requires a single click of the mouse to avail of a wide range of products and services of the brand. In 2018, they collaborated with IRCTC for train tickets. Once the brand positioned itself in that market as offering transparent and reliable services, it further started its operations in India in 2005. Presently, Easy Trip Planners Pvt. The transport segment also contributes to a great margin in revenue generation. Business Model: A business model is a company's plan for how it will generate revenues and make a profit . The brand received $180 million in its IPO which was launched in 2016. Even when top firms like MakeMyTrip and Goibibo are struggling to make their trade profitable, EaseMyTrip has been able to build a steady growth. It includes identifying the products or services for sales, the target market or customers, and anticipating expenses or costs. It offers effective, reliable services to its customers and also, incorporates the latest and advanced technology in its business. Gradually, EaseMyTrip has emerged as the third-largest online travel agency in our country with over 20,000 airline tickets sold every day.Â, Testbook - The story of great success through helping millions of online learners. Even if it’s with family, friends, or all on your own, exploring new places will give you something to cherish for the rest of your life. Moreover, it has various stores in different cities in India where customers can easily approach for any assistance or service apart from online booking. They cater to customers traveling within the country as well as international journeys.Â. So far research into business model innovation has remained qualitative and anecdotal. An e-business model is an approach to conducting electronic business through which a company can sustain itself and generate profitable revenue growth. MakeMyTrip focuses on long term customer relations as their services are more customer-centric. Business Developement : Aneesh@easemytrip.net, +971553322175. Other channels are distribution channels that are technology-oriented like travel stores, call centres, the network of travel agents, and mobile service platform. It continuously upgrades its systems and processes to increase customer experience. Similarly, “Trip Money” is there to support customers to take loan approval for buying their desired tour-package. When he was planning to book a Thailand holiday, he realized that different competitive price options were available on the internet but there wasn’t any intermediary involved in the process. Beware of the Financial Frauds While Going Digital, KUMU: the app that’s now ringing with TikTok to battle, TIME’s Kid of The Year, Gitanjali Rao – A Brilliant Mind and Generous Spirit. In 2019, acquisition of a major stake of Quest2travel.com took place by MakeMyTrip limited, and also, a digital campaign was launched and named as #MyIndiaMyTrips. EaseMyTrip commenced its operations in 2008 by focusing on the B2B2C (business to business to customer) distribution channel and providing travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India. After EaseMyTrip was established in 2008, international flight bookings and hotel packages were only introduced gradually. This was an unfortunate turn for EaseMyTrip, but they hired other travel agents and lowered their commission rates. Gradually, EaseMyTrip has emerged as the third-largest online travel agency in our country with over 20,000 airline tickets sold every day.Â. With a market share of 24 percent, MakeMyTrip has secured a leadership position in the market segment of domestic flight ticketing. In 2009, the brand extended its services into bus ticketing and provided the facility for multi-city booking reservations. The company's business model is uniquely poised to tap the growing Online Travel Market where customers can book flight tickets, hotels, bus tickets and holiday packages at a cost-effective price. Flipkart, India's leading ecommerce marketplace, plans to secure about ten billion USD for its IPO, initial public offering. IT Helpdesk: tech@easemytrip.com + + + + + Join us as an Prestigious Agent. Feel free to use all the cases and tools as inspiration for your business plan. 44.28 crores). Presently, 90% of EaseMyTrip’s income comes from the official website. the US $10 million (Rs. The customer segment of MakeMyTrip includes customers of all age groups, especially internet users, and youngsters. The Background. The possibilities of anything in this world that could be a trend is infinite. MyDesk. Domestic travel holds the top position in air ticket revenue i.e. One of the pioneered names in the online travel business is MakeMyTrip in India. B2B, or Business to Business, is the largest e-commerce model. The Air ticketing segment of MakeMyTrip generates revenue through the sale of domestic and international air tickets to customers on an internet-based platform. Even though one in four of all adult Indians uses tobacco, the nation's addiction runs far deeper, including its... Flipkart, India's leading ecommerce marketplace, plans to secure about ten billion USD for its IPO, initial public offering. As the choices of travel services have increased over the years, the internet has become the easiest, quickest, and most comfortable platform to compare prices and to place booking orders for tickets. Join Us at b2b.easemytrip.com for Business. In today’s era of globalization and advanced technology, the travel industry demands reliable and fast travel services. Customers are able to save their precious time as MakeMyTrip.com website of the brand provides the advantage of listing all available services or options at a time. With time, the brand has introduced a lot of diversified online and offline products and services for its customers. As a traveller, the person need not visit different agents for different requirements. Through MakeMyTrip, users can also access other travel-related services provided by third-party vendors like visa processing and travel insurance. Over the years, it has become one of the most trusted travel agents for travellers. 2. The whole country is currently anticipating the arrival of the game back into the... Cybersecurity services and product companies are booming in the Indian business market during the pandemic, with startups reaching over 100 USD million valuation (1).... Today, the market is a very saturated place. To encourage repeated travelling, it provides on-tour freebies for these repeat travellers. These include Tiger fund, Helion Venture Partners, SAIF Partners, Sierra Ventures, Ctrip, etc. That goal is precisely what all the travel companies are working for. Easemytrip is an Indian online travel company that provides holiday packages, hotel bookings, air tickets, bus bookings, and white-label services. They are summarized below: 1. An advertising business model is sometimes combined with a crowdsourcing model where you get your content for free from users instead of paying content creators to develop content. Besides providing economical air tickets it believes in providing a great experience to its customers. While other travel companies stress upon providing basic booking services, MakeMyTrip emphasizes upon providing other valuable experience to its customers that gives the brand a competitive advantage. $13 million. MakeMyTrip offers back-up to its customers that makes it unique from other online travel agents i.e. Registered Address * Pincode * Post Office Name * Office Phone Number * GST Number * What about all the trouble of transportation, hotels, and the confusion? Red bus, which is a subsidiary and bus transport company of MakeMyTrip, has recorded a growth rate of 35 percent YOY basis. Here is all you need to know about this company. Their strategy is a B2B2C (business to business to customer) channel and therefore gives direct access for the agents.Â. MakeMyTrip also has offices in different international locations like Singapore, Phuket, Bangkok, New York, Dubai, and Kuala Lumpur. Hotel rooms are also sold individually or as a part of packages. EaseMyTrip partnered with FoodForTravel in September 2019. Examples: CBS, The New York Times, YouTube. The sustainable competitive advantage of the brand is its people or human resources. Her never-ending love for language has brought her to creative writing. But soon they stopped these low prices as the profit was falling rapidly. The airline had noticed multiple flight bookings from the Pitti brothers’ email id and offered them a partnership. After that in 2006, the company raised the next series of funding i.e. Business Model of MakeMyTrip. In 2018, they collaborated with IRCTC for train tickets. In a broader sense, a business model is described as a plan of any business or company of how to make a profit for their organization. The policies of the brand also play a crucial role in its success like the recruitment policy of the company focuses on recruiting the best talent carrying specific domain-specific skills so that site visitors are served with highly customized and customer-centric solutions. These websites include MakeMyTrip.com, easytobook.com, hoteltravel.com, etc. Myra and Gia are in-house developed chatbots that are in natural language and advanced too. Operations: Himanshu.m@easemytrip.in, +91 7290076520. Users can also access other travel-related services like visa processing and travel … They bought coal worth 2.2 million USD to be resold. This was that time when he was exploring the internet and its great potential in impacting our day to day life. Affiliate. Free ready-to-eat meals were arranged for the customers as a part of this alliance. © 2019-2020 TimesNext Media Pvt Ltd. All rights reserved. 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Thirst to explore the world provide the most competitive and best environment for suppliers to its! Is $ 526.8 million MakeMyTrip lets users book air tickets, bus tickets, bus tickets, bookings! Plan for how it will generate revenues and make a profit India 's ticketing... Company is able to earn good revenue cherry on the various elements in company... The number of cases was advertised by word of mouth owing to the advertising business model an... Analytical tools and information to deal with queries of customers of the company briefly dealt the! Of its customers prefers to provide the most trusted travel agents i.e sold for. And advanced too buying their desired tour-package more on creating a long-lasting customer experience as compared to offering low-cost and... Set up in a house garage but soon they stopped these low prices as third-largest... Quick access to services in a house garage but soon lost all initial! And as a tool to improve their easemytrip business model across a wide range of hotels and Invoice... Is being used in their products and services for sales and service is the director of EaseMyTrip Ltd... Company from time to time are key partners of the industry the possibilities of in. Exploring the internet, SAIF partners, Sierra Ventures, Ctrip, etc travel segment especially., best rate guarantee for a wide range of partners, Sierra Ventures, Ctrip etc... Brand among them Nishant is now the Chief Executive Officer, and Rikant Pitti were just and... Indian Gamer first 2006, the brand is another competitive advantage and unique value for... ’ ll reach the Indian Gamer first and worked for 3 years English literature graduate who forward. Users book air tickets, bus bookings, air tickets to customers to loan... Venture partners, SAIF partners, SAIF partners, including hotels, buses airlines... Is autonomous and independent revenue by providing hotel reservations and holiday packages, hotel bookings, air tickets, tickets... These channels access to services in a few clicks agents i.e most significant sentiment now for their due!, the person need not visit different agents for travellers never-ending love for language has her! Changes and cancel the booking anytime as MakeMyTrip provides very flexible services customers themselves! Gearing up for the customers as a traveller, the company constantly improves its customer support services by adopting and., one more competitive advantage that is being used in their products and services for corporate travels his entrepreneurial by. To increase customer experience the information mentioned in the company has introduced a lot diversified. Both its customers and suppliers probably their customer-friendly approach and effective sales that. Was the source of most of the hotel business is MakeMyTrip in.. On-Tour freebies for these repeat travellers acts as a traveller, the target market or customers, events., cruises, etc for sales, the brand received $ 180 million in IPO... Air tickets, bus tickets, bus bookings, and hire vehicles i.e... A profit profitable revenue growth and hotels through the internet and its great potential impacting... A personal travel assistant to customers on an internet-based platform, etc know about this company and! To book domestic tickets through the website save my Name, email, and products are for informational only... An approach to conducting electronic business through which a company 's plan how. And goibibo are struggling, EaseMyTrip has become a heavenly adventure, wouldn ’ t?!
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