Norwegian Cruise Lines - Case Study Example

Norwegian Cruise Lines Answer Norwegian Cruise Line is one of the reputed organizations maintaining its operating in cruise ships. It is headquartered in Miami-Dade, Florida and started its operations since 1996 by the name of NCL. The prime aim of NCL is to increase its market share and brand equity in the market among others. This may be possible through productivity measurement procedures such as single factor productivity measure and multifactor productivity measure. Single factor means a measure of the output along with the single source of input and in case of multifactor, a bundle of inputs are used. In case of NCL, multifactor productivity measure is used. Yes, productivity measurement is extremely essential for NCL in order to judge the efficiency and effectiveness of the renowned brand in the market. Along with this, it also helps to determine the cost effectiveness and return on investment of the organization of a specific financial year that might be used for the planning the level of investments for the next financial year. Other than this, with the help of multifactor productivity measure, we might also judge the requirements of innovative technology and equipments to cope up with the changing trends of the market. By doing so, it might prove effective for NCL to enhance its financial position and brand image in the market among other rivals of the market. Answer 2 In order to make the customers fully satisfied, NCL tries to offer varied types of service packages. It helps in improving the reliability and trust of the customers over the brand resulting in amplification of the entire portfolio and revenue as well. Keeping these dreams in mind, NCL tries to offer fleet-wide services, cabin service, room service, dining service and bar services to its customers. It is done to enhance its image and position within the minds of its customers so that they might return again and again in long run. Other than this, the charge of fleet-wide tipping is very low and affordable for all and so it is highly preferred. Apart from this, varied other services are also offered by NCL like, guest services, hotel services, technical support services along with shopping services for the customers as well. Moreover, extremely beautiful casino services are also offered by NCL to its customers to retain its image within the minds of the customers. Hence, due to the presence of such wonderful service package facilities, NCL is highly preferred by maximum extent of the customers in the entire market. Answer 3 The competitive priority of NCL is to remain reputation and goodwill in the market and to become dominant within the market among the rivals operating since many years. It is done in order to attain a clear-cut view of the position and demand of the brand in the market and its range of customers. In order to do so, the company always keeps higher concentration over the service packages presented to the customers. This might prove effectiveness in retaining the older ones and attract the new range of customers and profit margin as well. Along with this, it might also help in improvement of the level of market share and reputation of the brand among other entrants (Formmer Media LLC.). The prime reason, behind this decision is that, as the level of competitiveness is increasing at a rapid speed within the industry of cruise lines, so customer retention is most essential. Otherwise, if the customers get disappointed with the services packages offered by NCL, then they might instantly swift-over to any other rival brand resulting in lowering of the market equity and ROI. So, it is extremely essential to retain the existing loyal customers and to attract new ones to remain sustainable revenue growth in this aggressive market scenario among other entrants. Therefore, in order to enjoy competitive advantage in the market, NCL should include the facility of casino services and wedding services for the couples planning to perform their wedding ceremony on cruise. This might improve the efficiency of NCL to attract large array of new customers towards its brand as compared to others (The Incentive Research Foundation). Answer 4 As the guests or customers are the prime pillars of success for any cruise lines so they are given high priority and concentration by the management of the cruise in terms of services offered to them. Due to which, varied types of facilities are offered to the guests like fleet-wide services, cabin service, room service, dining service and bar services and many others to satisfy their inner desires. If the customers become satisfied with the service facilities offered by the cruise lines then he or she might return again as well as may recommend its name to their friends and relatives also. This might prove helpful for the cruise to attain new range of customers leading to improvement of its RIO and profit margin in the entire market (Formmer Media LLC). So, it is extremely essential for any cruise lines to attain a good feedback from the guests about their services and the quality of experiences. This might improve their renownedness and image in the market among others. Although, it’s true that each and every guests do not bear the necessary expertise to judge the quality, still his or her feedback is important and might be taken positively. And if certain changes are recommended by that guest, then it’s better for the management to implement them as soon as possible to improve its efficiency (The Incentive Research Foundation). Answer 5 Capacity planning is performed by NCL on the basis of the feedbacks of the customers or guests. If they are satisfied with the services packages or facilities offered by NCL, then more new customer might get attracted towards this brand. In that case, NCL might need to increase its capacity to carry the passengers. The CEO of the organization might introduce new range of facilities or service packages in varied festive occasions to attract new customers and increase capacity. Along with this, varied types of wedding facilities might also be offered for the couples interested for arranging their weddings. Other than this, for the newly wedded couples, special type of discounts might also be offered to attract them. This might also help in increasing the demand and revenues of the brand as compared to others (NCL Corporation Ltd.). When capacity exceeds demands, then the CEO might try to introduce new sister cruise lines to cope up with such high demands like: introduction of Norwegian Getaways sister ship. Answer 6 The Cruise supply chain strategy entirely depends on the complications of the chains and the value of the passengers. The factors that affect the supply chain of cruise are food drink manufacturers, equipment and lubricant manufacturers, ship supplies ad port facilities. If any sort of problem arises within these factors, then it might directly affect the number of customers desiring to travel in a cruise. And some other factors like accommodations and transportation facilities also affect directly the level of satisfaction of the customers travelling in a cruise (NCL Corporation Ltd.). On the other hand, the things that might be done to improve such factors are excursion and port services facilities and using a recruiting a good manufacturer in each sections so as to reduce the level of discrepancies. Only then, the range of customers might get increased to a certain extent as compared to others. Works Cited Formmer Media LLC. Norwegian Cruise Line: Overview. 2013. Web. 5 September, 2013. . NCL Corporation Ltd. Norwegian cruise lines: Explore Whats On Board Norwegian Epic. 2013. Web. 5 September, 2013. . The Incentive Research Foundation. The Master Measurement Model of Employee Performance: The American Productivity & Quality Center. 2004. Web. 5 September, 2013. . Read More