...Priceline Case Study The core components of Priceline's business model: The core components of Priceline's business model are based on reverse auction pricing pattern. This unique pattern offers value for both consumer and vendor. Priceline also acts as an intermediary, buying blocks of airline tickets and vacation packages at a discount and selling them at a reduced retail price or matching its inventory to bidders. It is best known for its Name Your Own Price auctions, where users specify what they are willing to pay for goods or services, and multiple providers bid for their business (Kenneth & Laudon 2011). It helps consumers to find cheaper product and service. On the vendor side, it allows them to sell products they might not otherwise be able to sell. Priceline's business model also is known as brokerage. In this model Priceline creates its own market by bringing buyers and sellers together. Priceline operates as the broker or middle man to bring both parties in a systematic environment. Priceline receives its revenue based on the difference between the “Name your own price” amount entered by the customer and the amount charged by the service provider such as the airline. Will Priceline ultimately succeed or fail? Priceline has a reasonable business model which will allow them to succeed in the long term. The reverse auction model which Priceline uses to link the sellers with buyers is what has made it profitable. There will be always customers seeking...
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...Hotels I Love: Rosewood Mayakoba, Mexico Larry Olmsted , CONTRIBUTOR I travel to learn, eat, golf and ski, but mostly for travel’s sake Opinions expressed by Forbes Contributors are their own. I firmly believe that Mexico’s Riviera Maya (or Mayan Riviera), is one of the world’s great travel destinations. I have been to the region many times, and stayed in a lot of different resorts, and I think the best luxury hotel is the Rosewood Mayakoba. For readers unfamiliar with this recurring column, here is the three sentence lowdown: I travel a great deal and stay in many exceptional hotels worldwide, but only the very best make the cut for Hotels I Love. In almost every case these are properties I have visited multiple times over a period of years, so I know great service was not a fluke. It’s not “Hotels I Like,” or even “Hotels I Really Like,” and I only manage to find a few each year that qualify – they have to be that good. With most of the country caught in an exceptionally bitter winter of much lower than normal temperatures and storm after storm, sunny Mexico has never looked better. But the Riviera Maya, on the east coast of the Yucatan Peninsula, is especially appealing, and truly offers something for every taste. This 80-mile stretch of gorgeous coastline is situated immediately south of the excellent and easy to reach Cancun airport, away from often tacky Cancun itself, stretching south to the world famous ancient ruins of Tulum – the only Mayan city built on...
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...Priceline Case Study The core components of Priceline's business model: The core components of Priceline's business model are based on reverse auction pricing pattern. This unique pattern offers value for both consumer and vendor. Priceline also acts as an intermediary, buying blocks of airline tickets and vacation packages at a discount and selling them at a reduced retail price or matching its inventory to bidders. It is best known for its Name Your Own Price auctions, where users specify what they are willing to pay for goods or services, and multiple providers bid for their business (Kenneth & Laudon 2011). It helps consumers to find cheaper product and service. On the vendor side, it allows them to sell products they might not otherwise be able to sell. Priceline's business model also is known as brokerage. In this model Pricesline creates its own market by bringing buyers and sellers together. Priceline operates as the broker or middle man to bring both parties in a systematic environment. Priceline receives it’s revenue based on the difference between the “Name your own price” amount entered by the customer and the amount charged by the service provider such as the airline. Will Priceline ultimately succeed or fail? Priceline has a reasonable business model which will allow them to succeed in the long term. The reverse auction model which Priceline uses to link the sellers with buyers is what has made it profitable. There will be allways customers...
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...QUESTION /ANSWERS Q.1 what are the core components of priceline.coms business model A business model describes how an organization creates, delivers and captures value. With this in mind the core components of Priceline’s business model are based around their pioneered and patented reverse auction pricing model which is a unique offering within the travel market place. This innovative model allows consumers to purchase travel services at a discounted prices by trading off brand and features. They are also used revenue model that means How will you earn money generate profile and produce a superior return on invested capital as the Priceline do. Priceline receives its revenue based on the difference between the “Name your own price” amount entered by the customer and the amount charged by the service provider such as the airline. They also use a more traditional travel agency model offering a list of prices the customer can choose from and in this case Priceline receives a commission/agents fee Q.2 Do you think Priceline will ultimately succeed or fail and why? Yes the Priceline will succeed because it has the sustainable business model which allows them to succeed them in long-term During Priceline’s early start up days they experimented with variations of its business model by offering groceries and gasoline, which initially had negative impacts on profitability. However Priceline’s management were able to adapt and focus their model so that it started producing significant...
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...TOURISM by Student’s Name Code + Course Name Professor’s Name University Name City, State Date Travel and tourism have been one of the important sectors that have contributed majorly to economic development for both developed and developing countries. Tourism industry helps in raising the level of national income and improve the standard of BOP (balance of payments). It also makes indirect contributions through the promotion of good diplomatic relationships among countries. These attributes are important in establishing a competitive economy for any nation. Developing the travel and tourism sector requires effective policies that can help in solving possible obstacles that can prevent the desired progress (Klingmann 2007). Therefore, this paper will present an analysis of the tourism sector in Iceland by identifying the current influences on travel organizations within the tourism industry. In addition, there will be an analysis of theories and models that help explain travel flows and trends in important destinations within Iceland. Influences on travel organizations The performance of travel organizations depends on the political systems within a region. The political setup has a significant impact on how companies form their structures and the way of operation. For example, the relationship established between two countries based on the political ties play a significant role in opening the global market for the tourism industry in Iceland. Also, an...
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...Ghana SWOT Analysis as a Potential Tourist Destination Todd Breen Applied Marketing Management MGT 541 September 06, 2012 I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Bulletin relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper, I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing of this paper, I understand the possible consequences of the act/s, which could include expulsion from Indiana Wesleyan University. Ghana SWOT Analysis as a Potential Tourist Destination Executive Summary This paper is a short situation analysis identifying internal strengths and weaknesses, and the external opportunities and threats (SWOT) in developing a marketing strategy for Ghana as a tourist destination. The SWOT analysis is the most famous technique used by firms and organization to access their Strengths, Weakness, Opportunities and Threat in their prospective industry to steer its affairs to the right direction (Briggs, 2001). We will use the SWOT as a strategic planning tool and identify three potential markets for Ghana’s expansion. Introduction International tourism is a key industry for less developed countries because they are in some prime areas throughout the world. Ghana is rich in history interwoven with British and Dutch Colonization...
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...CORAL DIVERS RESORT Introduction Coral Divers Resort had a comfortable niche in the scuba diving industry, one that had been enhanced by its owner, Jonathan Greywell's promotional strategy. According to the case study,” over the years, Greywell had established a solid reputation for the Coral Divers Resort as a safe and knowledgeable scuba diving resort. It offered not only a diverse selection of diving activities, but a beachfront location. As a small well-regarded all-around dive resort in the Bahamas, many divers had come to prefer his resort to other, crowded tourists resorts in the Caribbean. "Greywell found this niche by creating short weekend and midweek diving ventures, a service that intrigued the public. Coral Divers Resort has targeted both the aficionado diver, and the tyro, both of which want maximum diving pleasure for minimum expense. The main issue in this case is what Greywell should do to enhance business, which has become increasingly flat. This paper shall consider some of the strategic options open to him, after first performing this abbreviated S.W.O.T. analysis. A classic method of performing competitive analyses of any new, emerging or maturing products the use of a SWOT analysis that stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis of Coral Divers Club will use this method. STRENGTHS * The industry sector (sports diving) is strong and getting stronger.* Greywell has developed a good name and reputation in the industry.* the...
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...Rosewood Hotels & Resorts Case Study Background The Rosewood Hotels & Resorts has been in business for close to 25 years. It operates in the luxury hotel segment, with a focus on one-of-a-kind hotels. Each hotel reflects the local culture and character of its location. Up to this point it has allowed properties to thrive on their own with very little corporate identity. However, management feels there is an opportunity for growth in the market and is considering a new brand strategy; one that would establish the Rosewood brand and incorporate it into the name of each property as well as introduce more Rosewood branded items in the hotels. It needs to present its strategy to the Board of Directors and is questioning how far it can push the branding without hurting the individual identities of the properties. Industry There are two distinct groups in the luxury hotel industry, the “Collections” of individual properties such as Auberge, RockResorts, and Orient-Express, and the Corporate Branded hotels such as the Ritz-Carlton and Four Seasons. Rosewood operates in the “Collections” group. It built its concept around “A Sense of Place®”, which is meant to reflect how each property captures what is unique about its location. This is fairly typical of the “Collections” brand model, where companies focus branding and marketing on individual properties, with the overall corporate brand relatively muted in the background. The Corporate Branded hotels focus heavily...
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...Zahra MohammadHosseini BBUS 438 Professor Ceri Nishihara Case 1: Southwest While Southwest has a very unique model that has kept them profitable for decades, they still struggle to grab a large portion of the market share. Southwest, historically, has stated their biggest competitor is the car and no other airlines. While this may have been true many years ago, it isn’t true anymore. Consumers already prefer to fly over driving as they understand the cost and time benefits of it. By southwest not focusing on other airlines as competitors they are losing out on gaining competitive advantages against them. Another key area where Southwest differs from other airlines is that you can’t book a Southwest fight through any other avenue than directly through Southwest. While this saves southwest on commission fees and allows them to keep their fares lower, it can be a disadvantage for Southwest as many consumers like to compare rates on travel websites. By Southwest not having a presence on those travel websites, they are losing out on a large portion of the market. With these shortcomings, Untied was able to pull back out of a market and focus their efforts elsewhere without worry of losing income or market share. Strengths:- Number 1 in on-time service, baggage handling, and customer service-Avoids major airline hubs in large cities to improve turn time- Creative marketing campaigns make them stand out to consumers- Commitment to a fun environment for both employees and consumer...
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...~~~~~~ Part A. ~~~~~~ TRAVEL AGENCY Strengths: characteristics of the business or project that give it an advantage over others. Weaknesses: characteristics that place the business or project at a disadvantage relative to others Opportunities: elements that the project could exploit to its advantage Threats: elements in the environment that could cause trouble for the business or project Strengths: Previously a travel agent was relied upon for necessity, there were no options, but as the internet became more prevalent people were still reluctant to part with their cash. From there, the Celtic tiger era created a mix of people wanting a near budgetless (!) trip arranged for them, by the travel agent, and people who wanted to do it themselves, we then moved into a recession era where people who had the money wanted to ensure its security by entrusting it with a travel agent over the black hole that is the internet! As you can see throughout the economics highs and lows a travel agent is viewed and relied upon as a staple, albeit variably. Loyalty was a key factor in the survival of many agencys, one story that stayed with me was a client who was in the construction industry and went bust during the recession, leaving a lot of debt behind. The MD of the company came to us hat in hand apologising and expressing embarrassment etc, but he went on to ensure that all future personal bookings and his friends & family’s bookings were made through us – out of...
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... | |[pic][pic] | | | |“I Create Energy” | | | | | |Product Category – Travel Gear | | | PREPARED BY GROUP NO: - 2 ADITI AGARWAL ADITYA PODDAR NILONEE SHAH PIYUSH SINGH RAVI TEJA SECTION ‘C’ MBA ‘JULY 2012 – 2014’ Executive Summary BagPort Pvt. Ltd. is a hypothetical Indian start up by a young innovator entrepreneur from IIT-B. During his college days, he was very upset with the ever deteriorating battery of his laptop that would limit...
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...SYSTEMS THINKING APPROACH AS A UNIQUE TOOL FOR SUSTAINABLE TOURISM DEVELOPMENT: A CASE STUDY IN THE CAT BA BIOSPHERE RESERVE OF VIETNAM Thanh Van Mai Bosch O.J.H School of Integrative Systems, The University of Queensland, QLD 4343, Australia Corresponding author (thanh.mai@uqconnect.edu.au) ABSTRACT Tourism is not simply an industry, but is an open, dynamic and complex system. The system consists of many interacting components and involves many different stakeholders. The development of tourism in a sustainable way impinges on and is subject to many factors. The limitation of traditional approaches to tourism research has become evidently in many cases. These approaches have usually looked at a particular issue or issues of the whole tourism picture. As a result, it has become difficult to manage tourism toward sustainability. This paper provides an overview of the systems thinking approach and its application in the study of the tourism system in the Cat Ba Biosphere Reserve of Vietnam. This study shows that systems thinking has proved to be an effective and powerful tool to explain the complexities of the tourism system. It has helped to simplify, clarify and integrate isolated problems associated with the industry, and provided a mechanism for group learning and decision making to achieve desirable outcomes. The paper proposes systems thinking be used as an appropriate tool for sustainable tourism development. Key words: complexity, dynamics, sustainability, systems thinking...
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...bases at Dublin and London Stansted Airports. In 2013, Ryanair was both the largest European airline by scheduled passengers carried, and the busiest international airline by passenger numbers. The case study “ Dog Fight Over Europe: Ryanair (A), (B), & (C) presents the situation of April 1986 onwards when the Ryan brothers announce that their fledging Irish airline Ryanair will soon commence service between Dublin and London. For the first time, Ryanair were faced with formidable competitors such as Aer Lingus and British Airways on a major route. In the following write we will present as follows 1) Case study analysis based on literature provided in class 2) Key competencies & recommendations for future. Case Study Analysis of Ryanair European Aviation Scenario 1) Air travel become possible due to technical advancements made during World war-I which led to Emergence of small private airlines across Europe which got amalgamated and paved routs for National Flag carriers serving mainly from national capitals to other capital cities and colonies. National Flag carriers were Gradually owned and subsidized by respective National governments. 2) After World war II, air travel become widely economical. America emerged as dominant country in Air-Travel business. Governements on Europe resorted to bilateral & multilateral Agreements, Pooling arrangements and and Government endorsed cartels such as IATA to counter the threat from USA. 3) Collapse...
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...| Human Resources Management Assignment | | “Flexible Working Practices in the Travel & Tourism Sector” | | Human Resources Management Assignment | | “Flexible Working Practices in the Travel & Tourism Sector” | 4 Contents Introduction 2 The Travel Industry 2 Flexible Working 3 Motivation 4 Content theories 4 Hygiene factors 4 Motivators 5 Process theories 5 Expectancy Theory 5 Promoting a Business Case for Flexible Working 6 Advantages & Disadvantages of Flexible Working 7 Consideration 8 Recommendations 8 References 9 Introduction The purpose of this report is to find out the relationship if any, between “Flexible Working Practices and motivation, and how it may improve productivity in the Travel & Tourism Industry. In order to achieve this, a methodology consisting of a review of theorist literature, surveys and case studies. The paper will also demonstrate how the review carried out indicates the significance of the motivational factors on productivity. Hence, how the implementation of flexible working practices can increase a company’s competitive advantage thus, help to improve the company’s business performance. The Travel Industry Tourism is defined ‘As the activities of individuals travelling to and staying in places outside their normal environment for not more than one consecutive year for leisure, business and any other purpose’ (Wto.org, 2014). The Nature and characteristics of this industry...
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...Southwest airline have been changing its waste of operation to keep up with the time. Gould stated, “Core competencies are not constant. They tend to change as the organization changes. Therefore, it’s important that the competencies are flexible and not etched in stone.” (p.5, 2008) The history of the air industry is characterized with very tough competition among companies. Besides, it is even tougher for new companies to enter the industry. The corporate head office of the Southwest Airlines is located in Dallas, Texas and that was where it was initially founded. They started with only three planes. Southwest Airlines’ corporate culture differs significantly from the other airlines in many ways, as we shall see herein below. The unique difference between the corporate culture of Southwest Airlines and the other airlines is one of the major factors responsible for the prosperous survival of Southwest Airlines. There is a fierce...
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