Revolutionizing the tourism industry

: the viability of Spontour’s business model

Abstract

The market within the tourism industry has been witnessing substantial growth, with a notable influx of new entrants offering innovative solutions such as tour planner applications and recommendation systems. These advancements have a shared objective of simplifying the process of traveling and discovering new cities, ultimately aiming to provide travelers with unparalleled convenience and ease in their explorations. Some of these ventures have achieved success and become well-known start-ups, while others have failed due to a lack of demand and revenue streams. The present study aims to analyze the viability of Spontour’s business modelby define its target market, the competitors operating on the market, the possible target customers and design a market strategy to create and provide value to its customers. As part of the research in this study an online questionnaire was conducted to define the possible target customer profile and its characteristics. This was answered by a total of 279 respondents from diverse age groups and backgrounds. Additionally, face-to-face interviews were conducted with restaurant owners in Budapest, to explore their problems and needs and define possible partners for the start-up. Consequently, Spontour’s target customer base includes travelers from younger generations who are interested in sightseeing tours, familiar with utilizing mobile applications, and struggle to choose local restaurants to try during their travel. As a result of qualitative and quantitative methods, a Go-To-Market strategy was established, as an essential part of Spontour’s launch.

Date of Award	5 Jul 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)