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Unformatted text preview: reduce costs and try to up-sell and cross-sell beGer. It is difficult to up-sell and cross-sell when prices of vaca=ons are already fairly expensive. Ways we could increase these factors would be to increase the areas where we have a consumable component of our service such as gih shops. We could also promote excursions to further these numbers. Our product costs are fairly similar to those of the market average and are easily compensated by our increased quality. Due to our higher standards we will be con=nually making trips and producing revenue. We could also compensate by increasing our level of maintenance to increase the life-span of our ship. Unfortunately the investment required to enter the market is massive. Our ini=al revenues will be quite substan=al, and will quickly show great returns on the investment. Profit per Sale Up-Selling Poor & Cross- Selling Ongoing Product Costs Average Investment Required To Enter Business Poor !4 | P a g e Investment Required To Enter Business To Keep Market Share Poor Unfortunately the investment required to enter the market is massive. Our ini=al revenues will be quite substan=al, and will quickly show great returns on the investment. Our compe==ve advantage helps maintain our market share through securing customers due to our inven=ve idea and crea=ve a loyal clientele. Our promo=onal strategies and `out of the box' idea will contribute to keeping the market share. Since we are part of two different market shares, cruises and resorts, it will be easier to conserve. Our product is already very innova=ve and keeping it up to date is not problema=c as there are no other direct compe=tors in our exact market. To make sure we keep our technology up to date we will be semng aside capital for further development of our product. Average To Stay On the CuXng Edge Average Competitive Advantage The product we introduce to the market is a new all-inclusive resort that supplies all the ameni=es resort compe=tors, while taking its customers on journeys around the world. This pro...
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This document was uploaded on 03/13/2014 for the course BUS 121 at Waterloo.
- Winter '12