Essay: Economic Environment

Sample Essay

The travel industry is booming due to customized packages offered by various airlines and hotels and resorts that cater to the various needs and requirements of the economically diverse customers. To capitalize from this trend, the major challenge for the travel guidebook industry is to match the needs of various customers. The customers may vary based on income, destination preferences, marital status and other various demographics.

Opportunities

After the acquisition by BBC Worldwide, Lonely Planet has a larger amount of resources at its disposal. They can use these resources to expand their destination base and develop newer markets and gain competitive advantage.

They can also reach a larger customer base and by creating new markets and utilizing the first- movers’ advantage, they can gain customer and brand loyalty and prevent competitors from entering the market in this way.

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