---A Research Report on Octopus Travel.com.sg
Introduction:
A transaction broker (also referred to as a facilitator, coordinator or contract broker) is an intermediary who acts as a middleman, merely providing the business link between a buyer and a host of sellers, and earning a commission for each successful transaction. So, basically, transaction brokers do not own the end products or services transacted and they are not wholesaler or retailers. They are also not an agent of either party. Its job is simply to help both the buyer and the seller with the necessary paperwork and formalities involved in transferring ownership of real property.
Hence, in order to investigate the nature and operations of the e-commerce transaction broker so that we could have a more comprehensive and detailed understanding of it, our group chooses OctopusTravel.com as our research transaction broker.
The Background of OctopusTravel .com
OctopusTravel.com is an innovative on-line hotel reservation company with offices in London, Hong Kong and Los Angeles, offering 21,000 discounted hotels in 129 countries worldwide. It is independently owned and has developed the www.octopustravel.com web site in association with an established tour operator with more than 25 years in the business.
Features
The web site’s background is blue and white in colour together with some animation so as to give customer an unprecedented attention. Hence, this attention is given to the customer to attract them to do selection and purchasing processing online. From the web site, customer can experience a simple and quick booking process while receiving detailed information to allow customer make choices. Furthermore, the web site is able to confirm availability of the customer’s selected hotel immediately.
At the same time, star ratings are also used to symbolize the overall quality, level of service, food standard and range of facilities available in any given hotel property. Based on the web site, they offer popular international chains, small boutique hotels such as French chateaux and English manor houses.
On the other hand, the web sites provide a full list of amenities and an independent report for each hotel in order to assist customers to make selection of the hotel best suited to their needs. These are written by travel professionals who have personally visited the hotels and they provide an honest and up-to-date appraisal of each property.
The web sites also provide hotel location, slides, photographs, images, maps, travel guides, health care, currency converter, health advice and other materials to the customer.
In addition, octopustravel offers a service that surpasses their customer’s expectations that is professional customer care. Customer Care Centre supports the web site with staff on hand to answer questions by telephone and email, thus providing the human interface that even the most confident of web-shoppers appreciate. This is because they know not all travel plans run smoothly and the only way can help them is they give a phone call at contact us section of the website.
Strengths
• Information on the web site is posted in good faith and updated regularly
• Multi languages are provided in the web site, it is easier for users across the multinational.
• The prices lists in the web site are no hidden extras since all the rates include taxes and service charges and. So, customers can receive great rates at a reasonable price.
• The wide range of products and services are neatly categorized into different tab on the top of every page.
• Provide hotel location maps plus interior and exterior photos to avoid any surprises.
• Affiliated with hotels of different classes thus able to cater to customers with different budgets.
Weaknesses
• OctopusTravel cannot guarantee the completeness and accuracy. Hotels are not regularly rated in every country, especially those hotels that operate on a smaller scale (budget hotels etc..), thus it would be harder to get a fair view of the hotel.
• OctopusTravel may change, update or delete any information on the web site without prior notice.
• Failure to make payment within 48 hours of the booking confirmation for accommodation not available for immediate confirmation will result in automatic cancellation of the booking.
• The prices aren't particularly cheaper than any other online travel agent.
• The site is fairly basic in design and content, the checkout system appears fairly simple and the descriptions of hotels are too brief.
Booking
The booking process is simple. Drop-down boxes allow users to select their country of residence and the currency they wish to see prices displayed in, the destination, check in date and the length of the stay. Users then select their preferred room type and number of beds from a list that helpfully includes both single and twin for sole use options. The remainder of the booking process takes a maximum of five minutes, including an option to request adjoining or non-smoking rooms and to notify the hotel of a late arrival (after 7pm). Overall it is easy and convenient for users to handle it.
Payment
Payment in full is required at the time of booking. Payment can be made using American Express, Visa, MasterCard and all UK Switch and Debit cards. Contract between the customers and OctopusTravel shall come into existence until OctopusTravel (a) issues a booking reference number; (b) issues a booking confirmation by email, fax or post; and (c) receives payment in full. When the items have been confirmed and payment has been received, the customers will be able to print the accommodation or sightseeing vouchers from their account.
Security and Privacy
This site has security measures in place to protect the loss, misuse and alteration of the information under our control. OctopusTravel use Secure Socket Layers (SSL) to ensure the privacy of the information provided to them and at no time are the customers’ debit/credit card details transmitted unencrypted over the Internet. To further protect the information you share with them they have an exhaustive security system that includes world class firewall technologies; logical network segmentation to allow restricted access to stored profile information and logical and physical security restrictions to their databases and systems. Whilst SSL encryption is used to protect sensitive information online they also do their best to protect user-information off-line. All the information is restricted in their offices and only employees who need the information to perform a specific job are granted access to personally identifiable information. All employees are kept up-to-date on our security and privacy practices with regular quarterly updates or whenever new policies are added.
OctopusTravel store your information for as long as we need to do so in order to fulfill their legal obligations or in order to keep you informed of their products. They use your information to create generic information, which they then use for market and commercial analysis. This generic information does not identify you personally.
Lastly, OctopusTravel is a full member of HATA and TIC providing customers with that final and complete peace of mind and assurance that they are dealing with a truly reputable travel company.
Conclusion
Generally, OctopusTravel is one of the largest and most successful e-commerce transaction brokers. Through the implementations of the advanced information technology, OctopusTravel not only stand at the front edge among the same industry, but also obtain the most valuable credits from the customers. Therefore, it achieves its company goals. With its own competitive advantage, Octopustravel is still doing its best through the way of growing its business on the internet and it will continue to develop and build its band and business on a global scale.
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