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Word Idea Representation:- FunWeek

• FunWeek is an online weekend planning services where we create a personalized and customized plans for every individuals.
• FunWeek does all the arrangements under your budget and help you to enjoy your weekend with your loved ones with their amazing packages.
• FunWeek design your entire weekend on the basis of your mood, travel partner and your total budget. So you can enjoy the leisure time in thinking about the enjoyment rather than spending on time on booking and all the arrangements.

IDEA FEASIBILITY AGENDA

FunWeek

Porter’s 5 Forces

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Industry Description

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Customers Feedback

Clients Review

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Industry (Target Market) Description

• The such type of idea of the business comes under travel industry.

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• The customers of the age group of 18 to 24 are free and want to do many activities during the weekend but they face difficulty in planning and applying it. So we came up with an service based organization where we provide value to customers needs and give personalized plans as per their forte.

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• The market of such industry is emerging as the needs of the customer gets varied and increasing day by day.

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• The service industry esp. travel industry is not currently in trend due to pandemic but soon the things will get normalize and people will again go to their favorite destination and enjoy their free time with their family and friends.

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Porter's Five Forces analysis

Threat of New Entry

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Supplier Power

Buyer Power

Threat of Substitution

Competitive Rivalry

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1) Threat of New Entry

• There is a very low level of threat to entry into the market as this market as this type of market is new and it can get benefited to clients and customers.
• Clients:- They can get new customer range and can hence get more profit out of it
• Customers:- The customers get readymade plans and they just need to go and enjoy the moments as all the arrangements are already done.

2. Supplier Power

• Here the suppliers would be mainly open space cafes and lounges , adventure park owners , games station owners, restaurants and many others.
• As normally the customer group will be new and want to enjoy the services which can help the clients to increase the goodwill by giving quality products and services.
• Digital Presence will be given to Suppliers which can help them to get large variety of customers and free way to market their product.

3. Buyer Power

• Here the customers would be mainly who are looking to spend qualitative time and also wants to get other benefits like discounts, coupons and etc.
• Customer always wishes that he would like to enjoy more things in a fixed budget but cannot evaluate it and if their problem is solved and also getting additional add ones then customers would get highly satisfied.
• Here the pricing factor is not decided by the supplier but the customer can create their own budget and enjoy the services under their budget.

4. Threat to Substitution

• The such type of specific services are currently not yet found in the market so the threat to substitution is very low.
• The Brand is loyal and will be offering best services and also conducts all type of arrangements and try to satisfy the needs of the consumers.
• In such type of services, the substitution is not yet found in India.
• The business mantra is “ TRY TO GIVE MORE AT THE SAME FIXED PRICE.”

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5. Competitive Rivalry

• Here the competition would directly done with tours and travel agency as they provide a similar type of services but it will be found less as the customer target of both the firms are different.
• Tours and Travel Agency:- Tourists
• FunWeek Agency:- People living in the city and also outsiders are covered.