Introduction
The operations suggested as key priorities for ReDefine imply improving the presence of the company in the selected segment of the market, which is unique customized tours. Meanwhile, it is also required to maintain other services, including well-known destinations and traditional offers. The complexity of these initiatives does not allow neglecting the circumstances of the environment alongside the firm’s capacity to survive in the context of high competition among the agencies in the field. Therefore, it is necessary to be aware of ReDefine’s current position on the market and, more specifically, strengths, weaknesses, opportunities, and threats for the business, which can potentially affect the outcomes of its international activity.
Strengths
The first aspect under consideration is a number of successful decisions made by ReDefine’s managers in order to ensure the popularity of innovative services. Thus, the main advantage in this respect is a high degree of flexibility of operations since the created tours are easily adjusted to one’s needs (see Appendix A). This achievement is complemented by the particular attention to the cultural aspect of the matter critical for young people, who are target customers of the company. The combination of these two factors implies that ReDefine is capable of meeting demand and increasing its presence in the market in the long run.
Currently, the business is strong since the available tour packages are supported by local entrepreneurs around the world. For example, unique attractions in the Republic of Sakha, Russia, are viewed by them as a part of cultural heritage. They claim that it should be preserved by enhancing the understanding of visitors regarding the importance of these locations for the world population (Sleptsov et al., 2021).
This task corresponds to ReDefine’s activity which leads to the intended outcome. The company also improves the communication with the residents of these destinations, thereby addressing their economic needs. In addition, the clients are guided throughout the whole process and can be confident in the suitability of offers to their desires. These strengths are significant for ReDefine’s success and can be relied on when promoting its services as they guarantee a strong sense of purpose to all operations.
Weaknesses
The mentioned benefits of ReDefine’s tours and their influence on the participating countries are accompanied by significant drawbacks that should be timely addressed. The main problem is the lack of previous experience in the tourism market since the elaborated task is innovative (see Appendix A). It can be eliminated over time by strengthening partnerships with other entities, the lack of which currently undermines the effectiveness of activity and has financial implications. For instance, the absence of substantial outside support means difficulties in lowering prices while focusing on the individual needs of customers. This issue seems impossible to avoid until the residents of the countries of operation become more active in tourism.
Another weakness stemming from the existing organization of services to travelers is connected to inconveniences in selecting tours. ReDifine does not provide any online options for those individuals who prefer to access full information while staying at home or in the office. This fact contributes to complications of the corresponding procedures and explains why the business can be incapable of increasing profits in the future. Among the specified challenges, this area is more critical to examine for implementing changes, while other issues can also be efficiently resolved, even though time is needed for eliminating these weaknesses and finding resources for this purpose.
Opportunities
The tourism industry tends to move upward, and this circumstance implies the presence of opportunities for ReDefine’s development. This conclusion is based on the findings of Solunke & Swami (2017), according to which the attention of travel agencies to customization of tours is growing. The efforts of businesses in the field are put into eliminating the accompanying complications for greater effectiveness, and their target is to design offers in one day (Solunke & Swami, 2017). For ReDefine, it means the need for finding partners abroad is urgent but possible to meet. Also, the company can achieve this goal by demonstrating the benefits of its activity to the residents of popular destinations alongside cooperation with foreign firms with similar suggestions.
Since the markets for the developed offers already exist, as can be seen from the description of their conditions above, their promotion is a matter of time. For this, new technologies should be introduced, such as using a clustering algorithm to customize tours when searching online (Solunke & Swami, 2017). For ReDefine, this task is especially critical since it should occupy a leading position on the Internet once it starts rendering services there. In turn, this achievement will lead to the opportunity to organize a marketing campaign emphasizing the contributions of the business to a meaningful life valued by young people around the world, who are target customers.
Threats
The main threats to ReDefine’s success in the selected marketplace are connected to the existence of strong competitors. They primarily include Expedia Group, Airbnb, and TripAdvisor; however, their participation is not as alarming as that of tour operators aimed at increasing their presence in the segment of customized offers. The former’s possible harm is their preferences by young people, whereas the latter’s existence means the necessity to timely eliminate the described weaknesses to remain competitive. Thus, for example, different companies, such as Quasar Expeditions, VBT Bicycling Vacations, or Wilderness Travel, are already successful in the area in which ReDefine intends to participate as they have popular private offers (Bay, 2021). In this way, the competitors are already experienced in this market segment.
This threat is complemented by other obstacles which ReDefine faces on the way to success. They include the need to develop mechanisms coping with possible changes in the involved governments regarding individuals’ economic activity and preferences of young people in terms of online purchases (see Appendix A). The former might result in the impossibility to ensure the regularity of operations crucial for ReDefine’s reputation among clients.
In turn, the latter would indicate the failure to sell services if no shifts are performed. As for troubling changes in the business environment, they are related to the measures intended for eliminating overtourism in different countries, including restrictions imposed by destination management organizations (Seraphin et al., 2019). Therefore, these regulations should be considered when dealing with the factors preventing further growth.
Conclusion
In conclusion, the analysis of ReDefine’s strengths, weaknesses, opportunities, and threats determined the future direction of work. Further measures should include eliminating problems, including gaining experience, developing online tools, and finding partnerships to be supported by the existing benefits, such as flexibility, communication, and an individualized approach. The business environment seems relatively favorable; however, it is also important to be prepared for changes linked to the desire of countries to manage overtourism and regulations in hiring individuals.
References
Bay, S. (2021). The top 15 tour operators. Travel+Leisure. Web.
Seraphin, H., Gowreesunkar, V., Zaman, M., & Lorey, T. (2019). Limitations of Trexit (tourism exit) as a solution to overtourism. Worldwide Hospitality and Tourism Themes, 11(5), 566-581. Web.
Sleptsov, Y. A., Nikiforova, S. V., Meshcheryakov, K. Y., Skrobotova, O. V., & Ivanova, R. M. (2021). Features of tourist routes in the republic of Sakha: Extreme tours, unique natural sites, archaeological and ritual attractions. International Journal of Agricultural Extension, 9(4), 13-20. Web.
Solunke, B. R., & Swami, K. S. (2017). Automatic and customized generation of single day and multi day itineraries using clustering algorithm along with package recommendation. International Journal of Computer Science and Information Security (IJCSIS), 15(5), 30-34. Web.