StudentShare solutions
Triangle menu

Online Travel Industry - Essay Example

Nobody downloaded yet

Extract of sample
Online Travel Industry

In the US and Europe, the leading online travel intermediaries have taken market share from their offline counterparts. At the same time, an increase in direct sales through travel supplier's own websites has also affected the traditional agency business.
The need to balance direct and indirect channels, demand for lower cost distribution and the growth in popularity of comparison shopping are all factors driving the business model for travel specific search engines globally.
It is interesting to note that the online travel market is divided into two segments: leisure/unmanaged business travel and managed business travel (also known as corporate travel). The online booking behavior of unmanaged business travelers is indistinguishable from leisure travelers. Employees of the millions of small- and medium-sized corporations use the same websites as leisure travelers to book their business travel. Thus these two groups of buyers are treated as one customer segment.
Study Method: It is a quantitative research based on online consumer surveys, executive surveys and market forecast models to provide essential analysis of consumer trends and marketing best practices, including customer segmentation and cross-selling strategies.
Study Findings: The needs of travelers vary widely from one generation segment to another although many travel marketers are unable to plan for the specific promotional strategies to meet the distinct needs of the different generations. Among the biggest generational differences in online behavior are:
Young Travelers are an online agency's best friend:
Consumers of age group 18-24 spend more time on agency sites than any other generations and they have attraction for the flashy marketing campaigns of online agencies.
77% of 18-24 year old travelers use more than one agency sites. The average traveler in this age group will visit 1.7 agency sites, the highest of any generational segment.

From the above graph we can clearly observe that there is an increasing trend of the younger travelers for visiting online travel agencies than the older ones.
Seniors prefer booking directly:
Seniors (65+) overwhelmingly favor bookings flights and hotels directly on supplier sites that offer low-rate guarantees and other perks
Nearly 80% of the flights booked online by this generation are made at carrier sites, and 68% of hotel bookings are placed directly at chain sites, compared to lows of 72% and 58% for 25-34 years old

Baby Boomers have an appetite for content:
Baby Boomers (45-64) view the travel contents online for comparison when in-market for a trip.
40% of the content viewed is at online travel agencies, giving aggregators an advantage in influencing this segment as they research online.


Study Implication: The travel companies must do the effective market research to improve online strategies to profit from this growing channel and increase the substantial share of the travel revenue.

Personal Reflection: Online Travel marketers should develop contents, services, and promotions targeting specific age groups that will be ideally positioned to manage their online distribution strategies ...Show more

Summary

Today the Online Travel Industry is on the verge of becoming one of the most powerful and dynamic parts of the booming global economy. Rapid growth, technological advancement and increasing affluence are changing the way people buy travel and opening up a dynamic marketplace to the rest of the world…
Author : mittielittle
Online Travel Industry essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Online Travel Industry"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

The changing paradigms in the travel and tourism industry: New trends and Special interest tourism
Research is done to identify change factors and the impact of changing demography on tourism industry; evaluate demands of changing demography as to study its impact on tourism; study the changing structure of tourism industry and aligning of interests of various stakeholders within the broader framework of local laws, international compulsions and common interest of the tourists, both domestic and international
7 pages (1750 words) Essay
Role of Social Media in Online Travel Information Search
According to the paper a discussion on the role and importance of social media within the eTravel environment will be discussed, followed by an evaluation of the application of technology and partner relationships. An analysis of the applicable aligned variables, including the use and function of the websites or IT applications will also be presented.
13 pages (3250 words) Essay
Travel Industry
The pace of expansion however will depend on the pace of deregulation in the emerging Asian economies. The ASEAN is expected to open skies in 2008.Estimates suggest, that a fully liberalized Asian market could initiate 1600 LCC routes. India and China remain the largest submarkets registering 12.3% and 8.2% growth rates respectively.Intra regional travel seems more promising that international travel for Asians.
10 pages (2500 words) Essay
Global travel industry
Doing away with the philosophical abstractions, 'unstable regions' are defined in this study as those which are currently known to be potential terrorist targets such as the United States, United Kingdom and the South East Asian Region.
4 pages (1000 words) Essay
Survey online travel agencies
Online there are three types of travel websites for the customers. One is an 'open site' which operates like a normal travel agent but only online. They negotiate directly with the concerned airlines, hotels and car rental services. These websites have their own databases and travel agency systems to select and choose the best airfare and hotel deals.
3 pages (750 words) Essay
Travel & Tourism
The 27.8 million overseas visitors who came in 2004 spent 13 billion in the UK. Total visits for 2004 are 27.8 million, a 12% increase compared with 2003, and an increase of 10% in spending to 13 billion. In 2004, the UK ranked sixth in the international tourism earnings league behind the USA, Spain, France, Italy and Germany.
15 pages (3750 words) Essay
Information control
E-commerce is just one of the many online innovation brought by Internet. Establishing a successful online gateway for your targeted customer needs some internet elements established for the market. This may not only be limited to the physical server where the files are stored but may be detailed as far as visibility, accessibility and security concerns.
12 pages (3000 words) Essay
Travel Trade
However, it has been observed that such portable devices are misplaced, lost or stolen, while the owner is traveling. Naturally, data stored in such devices becomes subjects of misappropriation or corruption. This puts personal security of
7 pages (1750 words) Essay
Online Market for Wedding Registries in Travel and Honeymoon Bookings
In the process, the couple will normally link up with a merchant and selects a particular list of gifts they would be willing to receive. The wedding guests are able to see this list and will
1 pages (250 words) Essay
Compare the travel journal to an online travel blog
Travel journals have the advantage that can be used for documenting events without necessarily having access to Internet. An online travel blog has similarities to a travel journal: a) in online travel blogs, as in travel journals, events are documented in a diary form; b) an online travel blog can be open to the public or not.
13 pages (3250 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment