Table of Contents Content Page no. Executive Summary 3 1 Overview of Carnival Corporation 4 1.1 Background 4 1.2 Mission Statement 5 1.3 Vision 5 2 SWOT Analysis for Carnival Corporation 6 2.1 Strengths 6 2.2 Weaknesses 6 2.3 Opportunities 7 2.4 Threats 7 3 Carnival Corporation Porter Five Forces Analysis 8 3.1 Carnival Corporation Porter Five Forces Analysis for Services Industry 8 4 PEST analysis 11 5 Strategic Group Mapping 13 6 Strategic Solutions 16 7 Reference 19 Lists of Figures Name Page no. Figure-1 Cruise Firms’ Per Minute Revenues. 13 Figure-2 Cruise Revenue vs. Passenger as per 2015. 14 Figure-3 Breakdown of Cruise Segments and The Brands the Cruise Firms 15 1
Operate in Each Segment. Executive Summary Carnival Corporation is the world’s largest cruise ship company, with 52% market share in early 2019. It operates a fleet of 104 ships, serves 11.5 million guests per year and has 9 distinct cruise lines under ownership. Historically, cruising has been an immensely profitable business, and Carnival has distinguished itself as the best operator in the industry. Among its many strengths, Carnival counts its global diversification, superior experience and sourcing, and a favourable market 2
caused by the rise of the affluent and aging. These strengths will ensure that Carnival remains the top industry player, although they do not guarantee success. Even though the market share of Carnival is not matched by the combined forces of the nearest competitors, there are other dangers which must be considered if Carnival wants to retain not just its position as industry leader, but the industry itself. From a business point of view, they have to develop stronger relationships with travel agents so that they can take full advantage of the marketing tools that are used in the modern business environment. They must also accept that there are numerous sustainable development goals that they must embrace and strategize accordingly in order to cater to a more environmentally aware and responsible customer base. Overview of Carnival Corporation Carnival Corporation & plc is a British-American cruise operator, currently the world's largest travel leisure company, with a combined fleet of over 100 vessels across 10 cruise line brands. A dual-listed company, Carnival is composed of two companies, Carnival Corporation and Carnival plc, which function as one entity. Carnival Corporation is listed on the New York Stock Exchange and Carnival plc is listed on the London Stock Exchange. 3
Background Although the name Carnival Corporation didn’t come into existence until 1994, the foundation for the company was laid when its flagship brand, Carnival Cruise Lines, was formed in 1972 by cruise industry pioneer, the late Ted Arison. After achieving its position as "The World’s Most Popular Cruise Line", in 1987 Carnival made an initial public offering of 20 percent of its common stock which provided the initial influx of capital that allowed the company to begin expanding through acquisition.
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- Fall '19
- Carnival Cruise Lines, Cruise ship, Holland America Line, Cruise lines, Carnival Corporation and PLC