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Stratege management - Case Study Example

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The famous hotel reservation company faces high rivalry among existing firms but low threat of new entrants. The threat of substitute products is moderate. Bargaining power of…
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Web Reservations International Strategic Management: Porters’ five forces and strategic fit analysis Web Reservations International fits the hospitality product industry, which implies a mass market. The famous hotel reservation company faces high rivalry among existing firms but low threat of new entrants. The threat of substitute products is moderate. Bargaining power of clients is also moderate. The growth in this industry steadily increases annually with great visit wars. Company’s survival is linked to ridding any unnecessary expense (James 2004). The hospitality company faces a high amount of concentration since people are willing to pay for some specific service with quality specialty. The services have relatively low switching cost since they are of similar quality and price. The ratio of fixed to variable costs over the past five years averages is lower than the industry average of 0.79. The company is not on excess capacity but acceptable capacity (Leibsohn, Moy and Okagaki 2012).
Threat of new substitutes is necessitated by customers’ willingness to switch to another similar service offered by a competitor. Competitors, however, face a difficulty in closing in on performance and relative price. Web Reservations International is a globally recognized brand name and does not face a greater threat from substitutes. Customers are willing to pay premium prices for the services offered (Leibsohn, Moy and Okagaki 2012). Customer’s willingness to switch is very low since the company has established good relations with its clients.
The company should least take on a defender and prospector strategies because it is not scared of new competitors and scarcely experiments on potential responses to new environmental trends. The company is likely attempting an analyzer strategy in maintaining current businesses and innovativeness (Hoyle 2013).
Marketing Mix Strategies
Marketing research encompasses features and benefits of the product, price sensitivity to customers, effectiveness of distribution channels and advertising and promotions initiatives. This is the marketing mix that every company must learn to balance. The services of Web Reservations International Company are essentially hospitality services, thus highly valued and on high demand (Goldberg 2012). The advertisement captures the mind of the contemporary generation Y to a greater extends as compared to oldies in their sixties and seventies. By undertaking a marketing mix, the company is destined to make a full cycle of hotel and reservation success (Creswell 2012).
Segmentation, targeting, differentiation and positioning strategies
The importance of market segmentation is to capture the array of customers who are sensitive to price and to some extent quality (Chaskin, Dillman, Greenberg and Verma 2011). The brand is the major tool of differentiation. Others used by Web Reservations International include customer support services, service descriptors, and image (Andal-Ancion, Cartwright and Yip 2012). Positioning strategies used are; moving to a new position, repositioning the competition and strengthening the current position. Strengthening the current position will involve constant monitoring of customer needs and wants. Investing on time, talent, money, and to after-sale services is essential (Aguero and Leiseca 2012). The new position is a welcome since strengthening the current position causes a downturn in performance hence a better strategy to be employed by Web Reservations International.
Strategies are significant for a company to know how to maximize its internal resources while learning on how to handle the turbulent external forces. Equally important is differentiation and positioning allowed competitive offerings and possession of the features the target market desires. This involves creation and maintenance of a certain perception of the service in the mind of the customer.
Aguero, R. F., & Leiseca, E., 2012. U.S. Patent No. 5,253,165. Marketing Journal, I(5), pp.2-12.
Andal-Ancion, A., Cartwright, P. A., & Yip, G. S, 2012. The digital transformation of traditional business. Journal of International Business, II, pp.1-23.
Chaskin, R., Dillman, K., Greenberg, D., and Verma, N, 2011. Creating a Platform for Sustainable Hotel Business. Management International Review, II(7), pp.1-16.
Creswell, J.W., 2012. Qualitative Inquiry and Research Design: Choosing Among Five Approaches. Journal of International Business Studies, III(11), pp.50-62.
Goldberg, J., 2012. Hotel Business in the Modern Economy. European Journal of International Management, I(10), pp.1-12.
Hoyle, D., 2013. ISO 9000 Quality Systems for the ISO 9001: 2008 standard: Hotel Industry. European Journal of International Management, II(1), pp.34-78.
James, S., 2004. Understanding Hotel Business. Ebscohost, II(4), pp.1-7.
Leibsohn, D., Moy, K., and Okagaki, A, 2012. Business Strategies. Management International Review, III(3), pp.1-31. Read More
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