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

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

CERTIFICATE

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

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.

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 Indias 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.

Table of Contents
1. Chapter-1 ...7

1.1 Introduction.......................8
1.2 Indian tourism profile...9
1.3 Indias forex Industry......11
1.4 Company Profile.14
1.5 Objectives the study24
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

CHAPTER 1
PROFILE OF INDIAN TOURISM

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.

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 sectors
contribution to the countrys 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.
Indias 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 countrys
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.
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
9

relook at it. Creation of an enabling environment for the sectors 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.

INDIAS FOREX INDUSTRY

Growing at a compounded annual growth rate (CAGR) of about 13 per cent, Indias foreign
exchange earnings from the tourism sector are likely to reach US $26 billion (bn) in 2015
10

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 chambers analysis.
Centre should further push Indias tourism industry as its total contribution to Indias 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.
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 Indias fourth
biggest foreign exchange earner after Indias principal exports of petroleum (US $60.8 bn),

11

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 Indias 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 Indias 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 Indias rank has also
improved from 54th to 41st in this regard, said Mr. Rawat. In terms of the Asia-Pacific
region, Indias share has increased from about 1.9 per cent to about 2.8 per cent during 20022012 but there has not been much of change in Indias rank which has improved by just one
spot i.e. from 12th rank to 11th rank during the aforesaid period.

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.
12

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.

13

COMPANY PROFILE

About Thomas Cook PLC

Thomas Cook Group plc is one of the worlds 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
Cooks 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 worlds 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
14

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.
TCILs 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.

TCILs Philosophy:
Providing Professional Service by Ensuring Personal Care.

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

TCILs 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.

15

COMPETITORS:
Cox & Kings
Found in year 1758 Cox & Kings is the leader of the travel industry in India.
Companys 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 Indias 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
Indias leading online travel company SOTC is Kuoni Indias 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 worlds leading
online travel company.
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.
16

 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.

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

17

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.
2.
3.
4.
5.
6.

Foreign currency
Multi-currency card
Travelers cheque
Remittances
Demand draft
Money transfer

Bulk of the transactions happen through currencies, but from the firms 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
After processing the request, DD is handed over to the student immediately (within15
minutes of applying for the same).

Documents Required

18

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 beneficiarys name and address
Gives us the name and address of the beneficiarys bank
Also, the account number of the beneficiary
Also, the SORT/SWIFT/BSB code of the beneficiarys 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
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.

19

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

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.

20

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 Associates 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
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:

21

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 companys PAN card or registration
certification is required. The final document where the client and Thomas Cook sign
up is done.

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?

22

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 dont
need much of Thomas Cook services

OBJECTIVES 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

23

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.

CHAPTER 2
RESEARCH METHODOLOGY

24

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.

25

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
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.

26

CHAPTER 3
DATA ANALYSIS AND INTERPRETATION

27

DATA ANALYSIS AND INTERPRETATION

OBSERVATIONS:

28

Ge nde r
60
50
40
30
20
10
0

male

female

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.

29

AGE
35
30
25
20
15
10
5
0

>20

21-30

31-40

40 & above

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.

30

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

SERVICES
100.00
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00

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 companys 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 companys establishment or rather the foundations are these services and the
company is well known for the same.

31

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

TIE UPS WITH ANY DEPARTMENT OF THOMAS COOK

30
25
20
15
10
5
0

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.

32

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

previous transactions with thomas cook

33%
yes

no

67%

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.

33

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

READINESS TO REFER CUSTOMERS

35.71

64.29

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.

34

Q5. What benefits you are looking from Thomas Cook?

be ne fits yo u a re l o o k ing fro m tho ma s c o o k

70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Best currency rate to the customers

To earn commission

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?

AWARE ABOUT THOMAS COOK

18.57; 19%
yes

no

81.43; 81%

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?

ready to start an associate with thomas cook

yes

no

no response

23%

10%
67%

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

ra ti ng g ive n to tho ma s c o o k
50.00
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
5.00
0.00

bad

average

good

very good

excellent

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 Cooks 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 didnt know Thomas Cook does foreign exchange. Thomas Cook major
revenue comes from foreign exchange.

CONCLUSION

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.

40

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 companys
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
www.thomascook.com
www.wikipedia.com
Thomas Cook manager : K.Rajeevi
Company Brochures
BOOKS

41

Marketing Research Naresh K Malhotra

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

QUESTIONNAIRE

Gender

Male

Age

Below20

Female

21-30

31-40

40 & above

42

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

International and Domestic holidays

Foreign Exchange (Currency buy & sell, foreign DD & telegraphic

transfers)

Overseas student insurance

Flights and hotel booking

Money transfer

Do you have any tie up with any of the following departments of

Thomas cook pvt ltd?

foreign exchange

domestic holiday department

O international holiday department

O

visa department

students insurance department

Have you done any transaction with Thomas Cook before?

Yes
(If
yes
kindly
--------------------------------------------------------

share

your

experience)

No

Are you ready to refer customers to Thomas Cook?

Yes
43

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

What benefits you are looking from Thomas Cook?

Best forex rate to the customers

To improve B to B

To earn commission

To get customer satisfaction

Are you aware of Thomas Cook Business Associate in Thomas

Cook?

If

yes

how

---------------------------------------------------------------------------------------------No

Are you ready to associate with Thomas cook?

yes

O no
O

neutral

Rate Thomas cook on a scale of 5?

1-bad

2-average

bad

average

good

3-good

4-very good

5-excellent

44

very good

O excellent

45