STUDY AND IMPROVISATION OF THOMAS COOK BUSINESS ASSOCIATE IN THOMAS COOK INDIA LIMITED

SUBMITTED BY

RISHNIL KRISHNADAS P.A

ROLL NO: 143237

BATCH XIX, 2014-2016

SUBMITTED TO

IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF

POST GRADUATE DIPLOMA IN MANAGEMENT

VIGNANA JYOTHI INSTITUTE OF MANAGEMENT

(APPROVED BY AICTE, MINISTRY OF HRD, GOVT OF INDIA)

BACHUPALLY, HYDERABAD

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DECLARATION

I, Rishnil Krishnadas P.A, hereby declare that the management project on Market Research

of study and improvisation of Thomas cook business associate in Thomas cook by me and it

is not submitted to any other institution or university for the award of any degree/diploma

certificate or published any time before.

Place: Hyderabad RISHNIL KRISHNADAS P.A

Date: PGDM, 2014-2016

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CERTIFICATE

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ACKNOWLEDGMENT

It would be prudent to commence this report with an expression of gratitude towards all those

who have played an indispensable role in the accomplishment of this project

by providing their valuable guidance. I would like to take this opportunity to acknowledge

and thank Thomas Cook India Ltd. for providing me with this highly coveted opportunity to

associate my Summer Internship Project with an organization of worldwide repute. I extend

my gratefulness to Mr. Thirumal, Associate Vice President – HR, South and Srilanka

and Miss K Rajeevi, Branch manager for their help and guidance

in various capacities which have been extremely proficient in getting the best out of me by

sharpening my rough edges from time to time. I am also thankful to all my team members for

their stimulating support and co-operation. Last but not the least; I cannot forget the help and

co-operation of the employees of Thomas Cook India Ltd. My special thanks to my parents

without whom it would have not been possible and for everything of what I am today.

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EXECUTIVE SUMMARY

This study will give you an overview of Thomas Cook Business Associate and about Thomas

Cook foreign exchange business in retail and whole sale.

Thomas Cook (India) Ltd. is one of India’s largest integrated travel & travel related

financial services company with headquarters in Mumbai, India.

The Project was to find out what are the improvisation methods of Thomas Cook Business

Associate and importance of Thomas Cook Business Associate in Thomas Cook.

The work was carried out in stages where analysis of the market includes competitor business

analysis, market shares of competitors.

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Table of Contents1. Chapter-1 ……………………………………………………………………..…….7

1.1 Introduction…………………………………………………………….......................8

1.2 Indian tourism profile………………………………………………….……………..9

1.3 India’s forex Industry………….………………….………………………………....11

1.4 Company Profile…………………………………………………………………….14

1.5 Objectives the study…………………………………………………………………24

1.6 Scope of the study………………………………………...........................................24

1.7 Limitation of the study……………………………………………………...……….24

2. Chapter-2 Research Methodology………….…..…………………….................25

2.1 Research Design..................................................................................................…...26

2.2 Target Population……………….…………………………………..........................26

2.3 Data Collection……………………………………………………..........................26

3. Chapter-3 data analysis and interpretation………………….………........28-38

3.1 Findings…………………………………………………………………………….39

3.2 Suggestions…………………………………………………………………….…...40

3.3 Conclusion………………………………………………………….........................41

3.4 Bibliography………………………………………………………………………..42

3.5 Questionnaire…………………………………………………………………….....43

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CHAPTER 1

PROFILE OF INDIAN TOURISM

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INTRODUCTION

Tourism is travel for recreation, leisure, religious, family or business purposes, usually for a

limited duration. Tourism is commonly associated with international travel, but may also

refer to travel to another place within the same country. The World Tourism Organization

defines tourists as people "traveling to and staying in places outside their usual environment

for not more than one consecutive year for leisure, business and other purposes".

Tourism has become a popular global leisure activity. Tourism can be domestic or

international, and international tourism has both incoming and outgoing implications on a

country's balance of payments. Today, tourism is a major source of income for many

countries, and affects the economy of both the source and host countries, in some cases being

of vital importance.

The main positive economic impacts of tourism relate to foreign exchange earnings,

contributions to government revenues, and generation of employment and business

opportunities. Tourism expenditures and the export and import of related goods and services

generate income to the host economy and can stimulate the investment necessary to finance

growth in other economic sectors. Some countries seek to accelerate this growth by requiring

visitors to bring in a certain amount of foreign currency for each day of their stay and do not

allow them to take it out of the country again at the end of the trip.

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INDUSTRY PROFILE

Travel and tourism is the largest service industry in India. This industry provides heritage,

culture, medical, and business and sports tourism. It is expected that the tourism sector’s

contribution to the country’s gross domestic product (GDP) will grow at the rate of 7.8

percent yearly in the period 2013-2023. The Indian tourism has been flourishing in recent

years due to the improved connectivity to and from the country. Also, a better lodging facility

at the tourist destinations has been a factor which has contributed to increase foreign tourist

arrivals (FTA).

The policies and changes implemented by the government of India has also been instrumental

in providing the necessary boost to the Indian tourism and hospitality industry and attracting

more and more foreign tourists every year.

India’s travel and tourism industry is set to grow by about 7.3% in 2014, better than last year,

but average spending by foreigners travelling to the country could decline sharply, according

to the world travel & tourism council. This year, revenue from domestic tourism is expected

to grow 8.2% compared with 5.1% a year ago, that increase domestic travel, growth of low

cost airlines and upgrading of airport infrastructure will be the growth drivers.

However, the growth in the amount international visitors spend in the country could slow to

2.9% from 6.2% in 2013. The picture in India in general terms is good. But in terms of the

global forecast, it is much lower than other countries, like china, which grew at 9.2% in 2013

(and is anticipated to grow at 8.3% in 2014), in 2013, India generated Rs 1,100 billion from

foreign visitors. The figure is likely to grow by 2.9% in 2014. International tourist arrivals are

expected to touch 7.36 million in 2014 and 13.43 million by 2024. Expenditure by foreign

tourist in India is expected to grow 4.3% every year to 1,740 billion in 2014.

In 2013, the travel and tourism industry contributed Rs 2,170 billion or 2% to the country’s

GDP. This is expected to rise to Rs 4,350 billion in 2024. WTTC, which includes executives

of travel companies as members, had said earlier that if five G20 countries (India, China, US,

UK and Brazil) were to go electronic in their visas, the move could generate five million jobs

and $268 billion income.

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There is a need to take steps to improve the present scenario of tourism that includes

extending facility of visa-on-arrival to tourists from more countries, simple tax rules and

ensuring safety of tourists. There is a need for better marketing and brand strategies to

promote the sector. The cost of obtaining an Indian visa is prohibitive and we need to take a

relook at it. Creation of an enabling environment for the sector’s growth would lead to rise in

foreign tourists’ inflows and foreign exchange earnings, thus, contributing to economic

growth. This would also lead to creation of additional jobs in the sector, which would create

opportunities for all sections of the society and in turn lead to attaining an all-inclusive

development.

The Ministry of Tourism designs national policies for the development and promotion of

tourism. In the process, the Ministry consults and collaborates with other stakeholders in the

sector including various Central Ministries/agencies, state governments, Union Territories

and the representatives of the private sector. Concerted efforts are being made to promote

new forms of tourism such as rural, cruise, medical and eco-tourism. The Ministry also

maintains the Incredible India campaign.

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INDIA’S FOREX INDUSTRY

Growing at a compounded annual growth rate (CAGR) of about 13 per cent, India’s foreign

exchange earnings from the tourism sector are likely to reach US $26 billion (bn) in 2015

from the current level of about $20 bn, apex industry body ASSOCHAM said today.

“Growing at a CAGR of about seven per cent, the arrival of foreign tourists in India is likely

to cross 80 lakh mark by 2015 from the current level of about 70 lakh,” according to an

analysis of international tourist receipts and foreign tourist arrival in India conducted by The

Associated Chambers of Commerce and Industry of India (ASSOCHAM) ahead of the World

Tourism Day celebrations on September 27.

Maharashtra, Tamil Nadu, Delhi, Uttar Pradesh (UP) and Rajasthan are top five destinations

attracting maximum number of foreign tourists and collectively account for 70 per cent of the

total number of foreign tourists visiting India. Maharashtra tops with maximum share of

about 25 per cent, followed by Tamil Nadu (17 per cent), Delhi (11 per cent), UP (10 per

cent) and Rajasthan (seven per cent), according to the analysis carried out by the

ASSOCHAM Economic Research Bureau (AERB).

“Making significant strides in the tourism sector, India has improved its share in international

tourism receipts during the course of past decade i.e. from about 0.64 per cent in 2002 to

about 1.65 per cent in 2012, besides India has also improved its world ranking in this regard

from 37th position in 2002 to 16th rank in 2012,” said Mr. D.S. Rawat, secretary general of

ASSOCHAM while releasing the chamber’s analysis.

“Centre should further push India’s tourism industry as its total contribution to India’s gross

domestic product (GDP) is about 6.6 per cent, its contribution to the total workforce is about

7.7 per cent and accounts for over six per cent of the total investments,” said Mr. Rawat.

“Besides, the foreign exchange earned through tourism is critical to combat the rising current

account deficit (CAD) and as such the government should look to boost foreign tourist inflow

by easing its strict visa regime, entering into an agreement with various countries’ through

embassies and high commissions to strengthen tourism cooperation aiming at destination

development, promotion, marketing and capacity building.”

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“Importance of tourism as one of the major foreign exchange earner can also be gauged from

the fact that during 2012, with over US $17 bn earnings tourism emerged as India’s fourth

biggest foreign exchange earner after India’s principal exports of petroleum (US $60.8 bn),

gems and jewellery (US $43.3 bn) and transport equipment (US $18.3 bn),” added Mr.

Rawat.

While globally, the international tourism receipts grew from about US $482 bn in 2002 to US

$1,075 bn in 2012, the international tourism receipts in Asia-Pacific region grew from about

US $96.5 bn to about US $323 bn and in India it increased from a level of about US $3.1 bn

to over US $17.7 bn.

“Thus in terms of growth in international tourism receipts, India has clocked a CAGR of 12.9

per cent which is higher as compared to 9.5 per cent at Asia-Pacific level and 6.1 per cent

globally,” highlighted the ASSOCHAM analysis.

In terms of the India’s share in the tourism receipts in the Asia-Pacific region, India has

increased its share from 3.2 per cent in 2002 to about 5.5 per cent in 2012 and India has also

improved its ranking from 13th to 7th in this regard.

Foreign tourist arrivals in India has been growing at a CAGR of about seven per cent which

is higher than rate of tourist arrivals across world over which has been growing at about 3.8

per cent and overseas tourism in Asia-Pacific region that has been growing at about 6.6 per

cent.

“But India’s share in foreign tourist arrivals has increased marginally during the last ten years

i.e. from 0.34 per cent in 2002 to about 0.64 per cent in 2012 and India’s rank has also

improved from 54th to 41st in this regard,” said Mr. Rawat. “In terms of the Asia-Pacific

region, India’s share has increased from about 1.9 per cent to about 2.8 per cent during 2002-

2012 but there has not been much of change in India’s rank which has improved by just one

spot i.e. from 12th rank to 11th rank during the aforesaid period.”

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The international tourist arrivals has increased from over 703 million in 2002 to about 1,035

million in 2012, while at the Asia-Pacific level the tourist arrivals increased from over 123

million  to about 234 million and in India the foreign tourist arrival grew from over 23 lakh to

over 65 lakh during this period.

The United States of America (USA) commands the highest share of about 16 per cent in the

total arrival of foreign tourists across India with over 10 lakh tourists followed by the United

Kingdom (UK) (11.9 per cent share) with over seven lakh tourists visiting India from that

country. Bangladesh (seven per cent share), Sri Lanka (4.5 per cent share) and Canada (3.8

per cent share) are amid top five countries with maximum foreign tourist arrivals in India.

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COMPANY PROFILE

About Thomas Cook PLC

Thomas Cook Group plc is one of the world’s leading leisure travel groups, with sales of over

£9 billion and more than 20 million customers. The group is supported by c.27000 employees

and operates from 17 countries. It is number one or two in all its core markets. Thomas

Cook’s vision is to deliver trusted, personalized holiday experiences through our high-tech,

high-touch strategy. We will be there for our customers wherever, whenever and however

they want to connect with us.

Historical Background

On July 5, 1841, young Thomas Cook arranged an 11-mile train journey priced at merely 1

shilling, for a motley group of 570 passengers from Leicester to Southborough. And this

marked the beginning of a chapter in travel history. He went on to introduce a railway tour of

Europe. But it wasn't until the early 1860s that he began the travel firm, Thomas Cook &

Son, which included tours of the USA. The Company also started operations for military

transport and postal services for England and Egypt during the 1880s. Thomas Cook has

widely been acclaimed as the founder of world tourism, and in addition to the world’s first

package tour in 1841, Thomas Cook introduced a number of customer empowering

innovations that we take for granted today: pre-paid hotel coupons (in 1868), holiday

brochures (in 1858) and travelers cheque (in 1874). The world got around and by the early

1900s, the who's who of the era - kings, politicians, bishops and professors - patronized

Thomas Cook's travel itinerary. As the years passed by, the Company introduced the world to

a whole new concept of leisure and business travel. Driving innovation in the business, it

connected continents and presented the people an economic and state mode of travel across

them.

In 1881, Thomas Cook started its India operations, with its first office being set up in

Mumbai. As it expanded its horizons across the subcontinent, the Company came to be

known as Thomas Cook Overseas Ltd. And on 21st October 1978, it was christened Thomas

Cook (India) Ltd, only to make its first public issue in February 1983. In the year 2000, the

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Group commenced its operations in Mauritius and also acquired the Sri Lanka business from

Thomas Cook Overseas Ltd, UK. In 2006, Thomas Cook (India) Limited acquired LKP

Forex Limited and Travel Corporation (India) Pvt. Ltd. (TCI). In May 2012, Thomas Cook

Group plc, UK (the erstwhile parent) sold its investment in Thomas Cook (India) Limited

(TCIL) to Fair bridge Capital (Mauritius) Limited (Fair bridge).

Thomas Cook (India) Ltd

Thomas Cook (India) Ltd is the leading integrated travel and travel related financial services

company in the country offering a broad spectrum of services that include Foreign

Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport

services. The company set up its first office in India in 1881.

TCIL’s footprint currently extends to over 240 locations (including 21 Airport counters) in 99

cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of

134 Gold Circle Partners and 165 Preferred Sales Agents in over 150 cities across India.

TCIL’s Philosophy:

Providing Professional Service by Ensuring Personal Care.

TCIL’s Vision:

To be the No. 1 Company in all our Core businesses through Customer Focus.

TCIL’s Mission:

EXCEPTIONAL SERIVCE from EXCEPTIONAL PEOPLE

Thomas Cook (India) Ltd. has established a transactional web, which offers customers full

self-booking capabilities and facilities for placing foreign exchange purchases orders. The

website, additionally offers information on the company, its business and its basket of

products and services.

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COMPETITORS:

Cox & Kings

Found in year 1758 Cox & Kings is the leader of the travel industry in India.

Company’s Indian headquarter is located in Mumbai. Cox & Kings has 12 offices in

India and global offices are located in UK, Japan, USA, Russia, Dubai and

Singapore. The services offered by the company are Outbound Tourism, Destination

Management, Domestic Holidays, Trade Fairs, and Business Travel etc.

MakeMyTrip

MakeMyTrip.com has revolutionized the travel industry in India. Founded in the year

2000 MakeMyTrip is an online travel company offering domestic and international

travel services which comprises of flight, train and bus tickets, holiday packages,

hotel reservations and other products and services.

Yatra

Yatra.com is India’s premium tour operator offering all travel related services and

products. It is one of the best travel companies in India providing all the information,

availability, pricing details and bookings of domestic and international hotels,

packages, train, flights and car rentals across 336 cities.

SOTC

India’s leading online travel company SOTC is Kuoni India’s travel brand. SOTC is

among the top 10 travel companies in India having expertise in Escorted Tours, and

Domestic Holidays, Free Individual Travel, Corporate tours, Trade Fair Tours and

Customized Holidays.

Goibibo

Goibibo.com a MIG Group company established in 2009 has overpowered its

competitors to emerge as one among the best travel companies in India. The one-stop

online travel company features various travel services and products which allows the

user to explore the largest range of destinations and hotels with the world’s leading

online travel company.

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Expedia

Expedia, Inc. enables travelers to buy air tickets, hotels and holiday packages in any

part of the world all from one place. Unlike other travel companies in India Expedia

offers more than 75000 hotels and over 3000 holiday packages with additional

features wherein a user can check the map and weather forecasts of the destination.

Cleartrip

Cleartrip.com is an online travel company headquartered in Mumbai. Cleartrip

provides online travel services which includes and international holiday packages,

reservations, rail tickets, flight tickets and bus tickets. Cleartrip is rated one of the

reliable online travel companies in India.

Travelguru

Since 2005 Travelguru.com has been facilitating its customers to make wise

decisions and smart travel plans by giving users access to various deals on airlines

and hotels worldwide. Travelguru offers the facility to book and explore air tickets,

hotel rooms, cruises and vacation packages more conveniently and securely.

Akbar Travels of India Pvt Ltd.

Akbar Travels has become one of the reputed travel agency in India in terms of the

largest number of IATA approved Branches. It has an online portal

Akbartravelsonline.com which assists its users to book domestic and international

flight and rail tickets and hotels at low costs.

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PRODUCTS & SERVICES OF THOMAS COOK PVT LTD

1. FOREIGN EXCHANGE

All over the world Thomas cook is well represented by its travel business, but in the case of

India it is the other way around. The forex division brings in more revenue than the travel

business close to 60%. Thomas cook was one of the first companies to secure the AD-2

license from the RBI. It was one of the first company to foray into such a segment and had a

huge market share and was almost a monopoly, but the situations have changed with

competitors making a tough competition to Thomas cook. By AD-2 license category it could

provide foreign exchange services only to certain restrictions and they cannot deal with forex

requirements related to business which the banks alone could do.

1. Foreign currency

2. Multi-currency card

3. Travelers cheque

4. Remittances

5. Demand draft

6. Money transfer

Bulk of the transactions happen through currencies, but from the firm’s perspective they

prefer to sell through cashless means as it prevents importing currencies and gets backend

revenue from the third parties.

FOREIGN CURRENCY DEMAND DRAFTS

Process Flow

Customer comes to Thomas Cook with the required documents and amount to be converted.

Fills in form A2

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After processing the request, DD is handed over to the student immediately (within15

minutes of applying for the same).

Documents Required

Copy of any government ID proof

Copy of filled in application form

TT / SWIFT WIRE TRANSFERS

Process Flow

Customer comes to Thomas Cook with the required documents and amount to be converted.

Fills in form A2

Gives us the beneficiary’s name and address

Gives us the name and address of the beneficiary’s bank

Also, the account number of the beneficiary

Also, the SORT/SWIFT/BSB code of the beneficiary’s bank.

Request is processed immediately and the customer is advised that the amount would be

remitted within 24 hours (a max of 48 hours)

               

Documents Required

Copy of any government ID proof

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Offer letter from the university, if for fee remittance

Only copy of a government ID proof of the remitter is required if the purpose of remittance is

maintenance

PRODUCTS FOR TRAVEL

Destination Currency Notes: Foreign Currency Bank Notes in 26 currencies.

Travelers Cheque: American Express Travelers Cheque in US Dollars, GB Pounds, Euro,

Canadian Dollars Australian Dollars and Japanese Yen.

Process Flow

Customer comes to Thomas Cook with the required documents and amount to be converted.

He fills in form A2

After processing request, the required foreign currencies / travelers Cheque are given across

the counter.

Documents Required

A copy of passport with visa

Copy of air tickets to destination

Pre-paid card application form (additional for prepaid cards

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THOMAS COOK BUSINESS ASSOCIATE

Thomas Cook Business Associate is a program which aims to leverage the network

capabilities of Thomas Cook and recruit channel partners to grow the business inorganically.

The endeavor is to ensure growth of retail business through expansion of our partner reach.

We believe our intrinsic capabilities provides for great opportunity for partners to align their

growth with that of Thomas Cook. We have put an attractive business schematic which is

easy to understand & execute. The program works on the following core peripherals where

Thomas Cook takes care of the foreign exchange needs of your customer.

1. Join hands with the leaders in travel & travel related services

2. Refer clients to Thomas Cook for their foreign exchange needs

3. Provide great value to your set of loyal customers

4. Walk the talk with a portfolio of superlative products

5. Equip yourself with latest in the foreign exchange space

6. Earn & Grow with Thomas Cook

Thomas Cook Business Associate’s Benefits

Structure of engagement – The program works on a simple schematic and provides for a

revenue opportunity as soon as the foreign exchange transaction gets done

Training & Induction – All selected associates will go through a 1 day induction & training

session which will give them an overview of foreign exchange products , segments and

processes

Updates on new initiatives , products & programs-Thomas Cook will ensure regular

updates are sent to the associates which will keep them abreast of latest in foreign exchange

space

Simple & Easy to understand commission structure- The incentive structure is simple and

easy to understand , works on a flat fee/transaction model and provides for a great platform

for growth

Spot rewards on milestone achievement- We will also have exciting spot & early bird

rewards

Relationship managers- Our relationship managers in the respective geographical zone will

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ensure your queries are promptly answered to . And will be available for assistance on

business requirements

Business Development for Thomas Cook India Ltd:

As an intern at Thomas Cook in the first month I was expected to get tie-up with overseas

educational consultants and travel agents. Thomas Cook will take care of all the foreign

exchange services of its B2B clients which are a large part of revenue. The stages of

approaching a client and finalizing the deal are:

A. Generating leads: Potential clients were searched in internet from sites like Just

Dial, Sulekha and other sites. The companies were contacted to get an appointment to

market our product to them.

B. First round meeting: We meet the companies personally and tell them about

services offered by Thomas Cook and what are the advantages dealing with Thomas

Cook and what are the incentives the company get. If the company is interested they

would ask for the next round of meeting with the manager.

C. Second round meeting: We meet the interested companies with our manager

and negotiations about the incentives for the companies and kinds of services which

can be offered are discussed. After negotiations if the companies are interested to

have tie-up then we go further for final documentation of contract.

D. Final documentation: Documents like the company’s PAN card or registration

certification is required. The final document where the client and Thomas Cook sign

up is done.

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Objection handling in Business Development:

When a sales person demonstrates a feature, talks about a benefit or uses a sales closing

technique, their customer may well respond in the negative sense, giving excuses or

otherwise heading away from the sale. The response to this is to handle these objections. This

is 'objection-handling'.

The common responses by companies when approached for tie-up:

A. What are the benefits for us if we deal with Thomas Cook?

B. What if customers come directly to Thomas Cook without referring the educational

consultant?

C. We already have tie-up with another forex company

D. Does Thomas Cook give best exchange rates for our customers?

E. The exchange rates of Thomas Cook are too high.

F. Students when they are in abroad create their own bank account and money is

transferred through bank to bank so why do we need Thomas Cook?

G. 90% of our students take education loan and only 10% are self-financed, so we don’t

need much of Thomas Cook services

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OBJECT IVES OF THE STUDY

To know customer awareness of Thomas Cook Business Associate.

To identify customer views about Thomas Cook Pvt Ltd.

To find out improvisation methods of Thomas Cook Business Association.

To identify how to improve Marketing and retail channel of Thomas Cook Pvt Ltd.

To identify the relation between Thomas Cook and agencies.

SCOPE OF THE PROJECT

• The study was important because it is going to inform the management of Thomas

Cook about customer perception and important feedback of customers.

• The study would be giving a clear idea about the market growth of Thomas Cook and

their competitors in Chennai region.

• The study would indicate in which all the area the company want to concentrate to

increase the sales and market potential.

LIMITATIONS OF THE STUDY

1. The respondents might not have done business with Thomas Cook before.

2. The respondents might be biased.

3. The respondents were resisting much of their time to provide information.

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CHAPTER 2

RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY

Introduction

This chapter outlines the methodology which was used in the study. The following topics

were discussed; research design, target population, sampling procedure, data collection

Method and instruments.

Research Design

The descriptive survey design is well suited to studies in which individuals are used as a unit

of analysis in order to measure generalizations. The survey design was best suited for this

study because the data required for analysis was to be collected from a large population, in

which it might be hard to observe the features of each individual. This would make it possible

for the researcher to produce statistical information on factors influencing the preferences

over exchanging foreign currency through Thomas Cook.

Target Population

The population of interest in this research consisted of 70 companies including Forex

Company, educational consultancies, immigration consultancies and other travels companies

across Chennai.

Methods of Data Collection

Questionnaires and interviews were used for collecting information from distributors. The

questionnaires had structured open and closed ended questions. The open ended

questionnaires were used to collect qualitative data while the close ended ones were used to

get quantitative data.

Data Collection Procedure

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The researcher collected both primary and secondary data for purpose of making conclusion

and recommendations. Primary data was collected using structured questionnaires, structured

interview guide and observation method. The questionnaires were administered to the

respondents directly by the researcher because most businesses in the study area were in close

proximity to each other.

The interviews were also conducted by the researcher personally at a time and place

convenient to the respondents. The observation was carried out at the same day when the

questionnaires were administered to the respondents at their place of work or business

premises.

The secondary data was collected from company website, newsletters and feedback forms.

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CHAPTER 3

DATA ANALYSIS AND INTERPRETATION

28

DATA ANALYSIS AND INTERPRETATION

OBSERVATIONS:

male female0

10

20

30

40

50

60

Gender

Respondents: The respondents were 51 male and 19 female. The respondents were chosen

by visiting nearby business centres and well established organizations like education

consultancies.

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>20 21-30 31-40 40 & above0

5

10

15

20

25

30

35

AGE

The age of respondents as seen in the graph depicts a general mix of respondents and

responses of different mix of business people to give a broad view of what the project intends

to find out. The highest number of people falls under the age category of 31-40 and 40 above.

No respondents were below the age of 20.

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Q1. What are the services do you know that Thomas Cook offers to its customers?

0.0020.0040.0060.0080.00

100.00

SERVICES

Respondents were asked about the services they know that Thomas cook offers to its

customers and it is a multiple choice where respondents can choose more than one mode.

As shown in the graph international and domestic holidays, foreign exchange and money

transfer were the options chosen by more number of respondents when compared to the other

options when asked the reason they are:

The company’s promotional activities are mainly focused on the majority chosen

services. The other services was recently started and the respondents has no much

knowledge about them.

The company’s establishment or rather the foundations are these services and the

company is well known for the same.

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Q2. Do you have any tie up with any of the following departments of Thomas cook pvt

ltd?

foreign exchange domestic holiday department

international holiday department

visa department student’s insurance department

0

5

10

15

20

25

30

TIE UPS WITH ANY DEPARTMENT OF THOMAS COOK

From the graph it is clear that the respondents have tie up with visa department of the

company and foreign exchange as well. This shows that the company has large association

with various education consultancies and other travel agencies.

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Q3. Have you done any transaction with Thomas Cook before?

67%

33%

previous transactions with thomas cook

yes no

The graph illustrates that 67% respondents have done transactions before through Thomas

cook or rather have used their services and only 33% have not used their services. This shows

the company is reliable.

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Q4. Are you ready to refer customers to Thomas Cook?

64%

36%

READINESS TO REFER CUSTOMERS

yes no

The graph shows the present associations they have with various consultancies are ready to

bring in more and more customers as 64% people have told yes. This will help in increasing

the revenue of the company.

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Q5. What benefits you are looking from Thomas Cook?

Best cu

rrency

rate to th

e custo

mers

To improve

B to B

To earn commiss

ion

To get custo

mer satisfa

ction

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

b en efits y o u a re lo o k in g fro m th o ma s co o k

More than 50% respondents have opted for to earn commission. This shows the main aim of

B to B marketing is to earn commission. If the company needs more tie ups then the

organization needs to increase their commission.

35

Q6. Are you aware of Thomas Cook Business Associate in Thomas Cook?

19%

81%

AWARE ABOUT THOMAS COOK

yes no

The respondents are not aware about a new project launched by Thomas cook- Thomas cook

business associate. That is why there are 81% people who opted for the no option.

36

Q7. Are you ready to associate with Thomas cook?

67%

10%

23%

ready to start an associate with thomas cookyes no no response

Out of 100%, 67% people are ready to start an associate with Thomas cook. As they are

satisfied with services provided by them. And the percentage of people who are not aware of

this project are more as well.

37

Q8. Rate Thomas cook on a scale of 5?

1-bad 2-average 3-good 4-very good 5-excellent

bad average good very good excellent0.00

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

50.00

ra tin g g iv en to th o ma s co o k

From the graph it is very clear that the rating on a scale 5 have mostly gone to good. This

shows the overall services given to the customers both B to B and C to B marketing is good

and the customers are satisfied.

38

FINDINGS

From the total respondents, most of them know about Thomas Cook services like

International and Domestic holidays, Foreign exchange, Money transfer etc...

Most of the retails forex company having deal with Thomas Cook.

From the total respondents, 25% of them have tie up with visa department of the

company and 15% foreign exchange as well.

In case of popularity and services, Thomas Cook having good market and customers.

Majority of respondents (67%) have done transactions before Thomas Cook.

From the total respondents, More than 64% of respondents are ready to refer their

clients into Thomas Cook.

More than 50% of the respondents looking for to earn commission through referring

clients into Thomas Cook.

Respondents are not aware about Thomas Cook’s new project Thomas Cook Business

Associate.

Majority of respondents (67%) are ready to start as associate with Thomas Cook.

In case of services given to the customers both B to B and B to C are very satisfied.

Promotional activities of Thomas Cook is very less compared with other competitors.

SUGGESTIONS

39

A. Competitors like Cox & kings and Make My Trip have rigorously started to

campaign their services through Social media and TV Ads. Thomas Cook can also

have their ad campaign to create awareness about services.

B. To improve Thomas Cook Business Associate, company should start promotional

activities like trade shows, private events, and social media to generate awareness

about their products and services.

C. When asked the employees they suggested that more currencies like UAE Dirham,

Chinese Yuan etc. should be added into the currency exchange department.

D. Thomas Cook does strategic tie-ups with overseas educational consultants, travel

agents and banks. But the follow up with those clients after tie-up is poor. Thomas

Cook has to take necessary steps to ensure relationship with B2B clients.

E. Thomas Cook has to come up with a repositioning campaign as most of the

respondents didn’t know Thomas Cook does foreign exchange. Thomas Cook major

revenue comes from foreign exchange.

CONCLUSION

40

This project proved good as it provided knowledge of not only market situations of Thomas

Cook but also the procedures related to holidays and foreign exchange. It also provides

knowledge about the Thomas Cook Business Associate.

Through this study the current situation, trends, market shares of foreign exchange market

were understood in depth. The factors that were understood were how the market share can

be increased in Chennai region, what influences the customer to buy a particular company’s

products and to attract the customers what best the company can do from its side that would

lead in improving the purchase of the product by the customers. To understand all this market

situation a questionnaire was prepared which was filled by 70 respondents in Chennai region,

and from their responses the relation between Thomas Cook and agencies were known, the

customer views about Thomas Cook Pvt Ltd was understood and the improvisation methods

of Thomas Cook Business Association was learnt . The final conclusion about study is, that

different problems and huddles are learnt, understood and analyzed in the current foreign

exchange market.

BIBLIOGRAPHY

www.thomascook.in

41

www.thomascook.com www.wikipedia.com

Thomas Cook manager : K.Rajeevi Company Brochures

BOOKS Marketing Research – Naresh K Malhotra

B to B Marketing – Dheeraj Sharma B to B marketing Management – Jimblythe

QUESTIONNAIRE

42

Gender O Male O Female

Age O Below20 O 21-30 O 31-40 O 40 & above

What are the services do you know that Thomas Cook offers to its customers?

O International and Domestic holidays

O Foreign Exchange (Currency buy & sell, foreign DD & telegraphic transfers)

O Overseas student insurance

O Flights and hotel booking

O Money transfer

Do you have any tie up with any of the following departments of Thomas cook pvt ltd?

O foreign exchange

O domestic holiday department

O international holiday department

O visa department

O student’s insurance department

Have you done any transaction with Thomas Cook before?

O Yes (If yes kindly share your experience)

--------------------------------------------------------

43

O No

Are you ready to refer customers to Thomas Cook?

O Yes

O If no why ------------------------------------------------------------------------------------------------

What benefits you are looking from Thomas Cook?

O Best forex rate to the customers

O To improve B to B

O To earn commission

O To get customer satisfaction

Are you aware of Thomas Cook Business Associate in Thomas Cook?

O If yes how ----------------------------------------------------------------------------------------------

O No

Are you ready to associate with Thomas cook?

O yes

O no

O neutral

Rate Thomas cook on a scale of 5?

1-bad 2-average 3-good 4-very good 5-excellent

O bad

44

O average

O good

O very good

O excellent

45