Market can simply be defined as the arrangement that allows buyers and sellers to exchange various sort of goods and services. Every market consists of some essential elements like a commodity which is to be bought or sold, existence of buyers and sellers who are going to perform this activity, definite area of land where this activity is going to be performed and contact between buyers and sellers. Contact can be personal or impersonal e.g. letters, advertisement, fax etc. Markets can be found in
The Monopolistic Competition is a market structure characterized by a large of seller and buyer; differentiated though comparable, products; free entry and exit; perfect information; and the opportunity for normal profits in a long run equilibrium. The monopolistic competition and oligopoly models of seller behavior, it is important to recognized the dynamic nature of real world and exist when individual producers have to moderate influence of over the product prices, where each product enjoys a
Airbnb Business Model Airbnb business model was made to meet the needs of both sides of the market demand. They offer the solution to fulfill the want of travelers to feel part of the local community and gain a unique experience but at the same time reduce cost. The demand for space is met by hosts that want to earn extra income by renting out private rooms, entire homes, and couches. This creates shared economy, an economic model often defined as “a peer-to-peer based activity of acquiring,
loyalty in the hotel industry. The objective is to identify factors of image and dealer satisfaction, which are positively related to dealer loyalty in the hotel industry. The research helps extend the understanding the relationship between dealer loyalty, dealer satisfaction, and image. The study identifies that competition has three major implications for the dealer, which provides: increased choice; greater value for money; and augmented levels of service. The authors argue that hotels that attempt
of Environment for the company using the Environment Uncertainty Framework 4 Business Strategy 4 Organizational Structure 6 Organizational Culture 8 Organizational Performance on Balanced
guesthouses with a minimum set of services to first-class hotels. Boutique hotels decorated in traditional Thai style and located close to the historic city center are especially popular today. Some of them were built in the past 6 years and offer an excellent service, and the most are so small that they have no more than eight rooms and a swimming pool. Most hotels in Chiang Mai are concentrated within the city. But there are a few hotels in the outskirts and beyond. If you are meant to explore the
and King (2017), which inspects the effect of AirBnB and short-term rental units on hotel rental demand by interviewing and analyzing responses from employees of mid-tier Singaporean hotels. After discussing and reviewing the possibility of shifts in demand, the researchers deemed that while the current status of AirBnB and other short-term rental services did not interfere or diminish demand for traditional hotel units, they did possibly pose a threat to future demand. The authors did not opt to
The Indian Government has allowed 300 hotel projects, where half are for the luxury range. Analysts say that the manpower necessary by the hotel industry has increased from 7 million in 2002 to 15 million in 2010. More and more IT Professionals are moving into the Metro cities as the USD 23 billion software services sector approaching into the Indian economy. Indian Hotel Industry is set up to grow up by 15% a year. In 2010 as the Delhi capital city of
Namely the vertical and horizontal axis. The vertical axis will indicate the growth rate and the horizontal represents the market share. The matrix assumes that a company must focus on its mature markets and form a strong competitive position in the market ultimately leading to the generating of cash flow. Once a company has claimed a competitive position in the mature market they can use the funds that are generated from this sector to fund other investments
This affects 19% decrease in visitor arrival and hotel occupancy even retails, dining establishment and affected business reported in decrease rate of customers which causes stock price to fall, due to the situation at hand the government slash the economic progression report to 0.5% in the year 2003 to balance out the pressing issue. However the government together with the other industries including the Singapore Tourism Board has overcome the problem when a relief package being issued to aid those