Position of Thomas Cook in the global tourism/hospitality market - Essay Example

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Position of Thomas Cook in the global tourism/hospitality market

Another important fact that can also guarantee or assure players in the industry of the tourism of accrued profitability is the ability to be dynamic and adjust one’s business towards the changing global economic climate (Engelmann, 1997). It has been noted that the global economic climate hardly experience a stable condition be it in terms of customer behavior, the flow of cash, competitive advantage, niche marketing, and the application of business models (Gosling, 1996). For players in the tourism industry therefore, the best way to benefit from the market is to ensure that they are able to adjust their strategies according to the dictates of the market. There have also been tourism strategists who have also made use of models that suggest that players can be innovative enough to determine marketing and business ideas that customers would appreciate and buy into. ...Show more

Summary

CONTENTS Overview 2 Tourism Life Cycle Model 3 Consumer behavior of the Tourism Industry 3 Changing role of technology and the Changes in tourism niche marketing 4 Impact of changing market niche on Thomas Cook over the years 5 Market segmentation of Thomas Cook 6 Position of Thomas Cook in the global tourism/hospitality market 7 Favorability of Thomas Cook’s Market Position 8 Price strategy and Yield Management as Competitive Strategy 9 Networking relationships for Thomas Cook in relation to other Competitors 10 Proposed new techniques and innovations 10 Conclusion 11 THOMAS COOK Overview The tourism industry is one of the most financially profitable ventures as it generates ?…
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