When it comes to tour and tourism, MakeMyTrip holds a leading position in the market. The very popular Indian travel company, MakeMyTrip, launched in the year 2000. Ever wondered how this company makes money? Or how its business model is designed? Well, in most simple words, the business model of MakeMyTrip entirely revolves around the online travel services it offers.
MakeMyTrip provides the facility of booking tickets for holidays, flights, busses, cars and trains. This travel company has made booking tickets very convenient for Indians. Also, it has improvised the travel conditions and arrangements in India.
In this article, we have discussed the business model of this amazing travel company- MakeMyTrip and how it makes money. So, let's get started!
About MakeMyTrip
Key services of MakeMyTrip
Target Audience
Where does MakeMyTrip operate?
Business Model of MakeMyTrip
What is unique about the business model of MakeMyTrip
How does MakeMyTrip make money?
FAQ
About MakeMyTrip
MakeMyTrip is a very famous Indian travel company, established in 2000. The company provides some very amazing online travel services and offers. With MakeMyTrip, you can book tickets for flights, hotels, buses and many more.
This famous travel company was founded by Deep Kalra. The company directly communicates with the customers through its verified online platform and deals with all customers’ concerns related to travelling. In other words, MakeMyTrip is the perfect guide for you to plan your vacation.
MakeMyTrip owns around 30+ franchised stores along with 14 different stores across 28 cities. In the year 2012, the company developed and launched its mobile application for its customers that provides over 10 lakh routes all around India. MakeMyTrip has made travelling super cool and convenient for the Indians by helping them in all aspects of travel requirements.
Key services of MakeMyTrip
MakeMyTrip provides various beneficiary services for its customers. Some of them are booking tickets for any sort of travel media such as flights, trains, buses or many others. Besides this, booking tickets for hotels, hire cars, and holiday packages, etc.
Apart from this, there are many third-party services also available such as travel insurance, Visa and many others, especially for travelling in any other country.
Pratyusha Srivastava
Target Audience of MakeMyTrip
There isn’t any specific group that MakeMyTrip separately focuses on. The travel company focuses on different groups with different specifications and segments. It attracts all kinds of age groups and genders. Although the company does prefer customers who have a vivid connection with the internet.
Where does MakeMyTrip operate?
MakeMyTrip is an India-based travel company but the company has expanded itself into foreign countries as well such as America, UAE and many others. MakeMyTrip has well-functioning offices in New York, Bangkok, Dubai, Kaula, Singapore, Phuket and many others.
Business Model of MakeMyTrip
The business model of MakeMyTrip is very strategic and mainly based on customer service. MakeMyTrip provides the audience with great offerings and also, facility to book tickets.
India, being the fastest-growing digital travel agency that basically benefits brands like MakeMyTrip in making them a strong contender in the global market. And for this, their business model entirely strategies the marketing, price, name, promotion and location. The company provides satisfaction to its customers through its amazing customer-centric services.
Apart from this, MakeMyTrip provides its services at affordable pricing rates. MakeMyTrip provides an e-marketplace that is basically available for a huge range of audiences across the world.
The company promotes its services and offerings through electronic banners on television commercials, websites and various other channels. Also, it promotes through offline retail stores.
Today, MakeMyTrip has become an elite brand and has great strategic planning including various marketing schemes and campaigns.
What is unique about the business model of MakeMyTrip
MakeMyTrip is way beyond just creating the most amazing experience for customers. In the competitive marketplace, MakeMyTrip offers the facility of customer testimonials that give strong feedback on the company's customer service managers. And the great customers' experience is what favours the company most.
In addition to this, MakeMyTrip works on various tactics and technologies to improvise its products and services. This brings out a great additional advantage to the company, especially over its audience. Along with this, MakeMyTrip provides an advanced place to its retail stores for showing the company's products.
Anamika Mahapatra
How does MakeMyTrip make money?
MakeMyTrip has its major revenue source from the fee it charges over the online bookings. Although the company provides the most affordable flight tickets, that's what attracts the customers more. They do this by purchasing the tickets from the private airlines by a huge number and they then reduce the charge and sell these tickets to the customers and earn a good extra commission fee.
MakeMyTrip earns huge profit through the flight tickets but as there aren't many options available with the trains that's why they did not offer this service over train tickets. The company has over 5000 to 10,000 registered hotels and around 1000 registered busses.
Apart from this, the major source of revenue is from marketing of various companies like Tata, Kingfisher, SpiceJet and many others. They also earn revenue by advertising holiday packages of various hotels on their website.
Conclusion
MakeMyTrip is known as the leader in the travel market in India. The company follows the Business-to-consumer digital business model. It is amazing with its services and products, both online and offline platforms. The travel market in India has grown at the rate of 40% and a huge market share is taken by MakeMyTrip.
This clearly shows that the company has its marketing strategies very effective and efficient. MakeMyTrip earns a good amount of revenue and has a strong marketing position. Stay tuned for more content!
FAQ
Who is the founder of MakeMyTrip?
MakeMyTrip was founded by Deep Kalra in 2000.
What is the revenue of MakeMyTrip?
The revenue of MakeMyTrip was 163 million U.S. dollars as of 2020.
Who are the competitors of MakeMyTrip?
MakeMyTrip's top competitors include Flight Centre Travel Group, Treebo, TravelTriangle, Yatra and ClearTrip.
Author: Pratyusha Srivastava
Source : https://startuptalky.com/makemytrip-business-model/
Date : 2021-11-03T14:07:51.000Z
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