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Essay example - Cruise Industry
Pages 15 (3765 words)
Name: Tutor: Course: Date: Case 1: Q.1 Industries like the cruise industry are less competitive as compared to the fragmented industry. The reason behind this is because in fragmented industries there are numerous small players whereas in the consolidated industry there smaller numbers of players and big firms which share the market…
Extract of sample
This therefore, divides the market into different influential spheres. The fragmented industry allows all its players to create niches and the market shares where each one of them can work in, unlike in the consolidated industry where there little or no niches for the small players (Enz' 514). Q.2 In the cruise industry the cruising market is a single and segmented entity where products are differentiated mostly by the preferences of consumers and the assumption is that there is an increase in the overall sustainability and completion. Therefore, the cruise industry can be characterized as an oligopoly. The market structure of the Cruise industry is noticeable by the fact that there are few large firms such as the Carnival Corporation, which dominate this market, which all offer identical services that have a significant barrier when making entries in this industry. The cruising industry is widespread in the world and diverse in all ways. It dominates most of the modern landscape today and the economics. Each of the firms in the cruising industry keep a close eye on what other firms in the industry are doing. Thus, a firm’s success in the cruising world is not entirely dependent as a sole entity. ...
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