[IT1004: tutorial 2] Priceline Case Presentation By Group A
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Priceline case presentation, prepared by Grace Ong, Ian Gobardja, Chooi Wei Ling, Jolene Lim & Dorlisa Song. Uploaded with kind permission from the abovementioned authors.
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[IT1004: tutorial 2] Priceline Case Presentation By Group A
- 2. So… Priceline? Ian – Jolene – Dorlisa – Grace – Wei Ling
- 3. Agenda The Beginning The Past The Present The Future The End
- 5. What is Priceline Priceline?
- 6. “Priceline is the ultimate bargain bin of travel agencies. It takes the extra rental cars, airline seats, and rooms that travel suppliers don't think they could possibly sell, marks them w-a-a-a-y down, and gives them to you for cheap”
- 7. The Past
- 8. Evolution of the Business Model 2003: Introduction of retail pricing
- 9. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com
- 10. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com 2006: Acquisition of Active Hotels
- 11. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com 2006: Acquisition of Active Hotels 2007: Acquisition of Agoda Hotels
- 12. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com 2006: Acquisition of Active Hotels 2007: Acquisition of Agoda Hotels 2008: Eliminated booking fee
- 13. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com 2006: Acquisition of Active Hotels 2007: Acquisition of Agoda Hotels 2008: Eliminated booking fee 2010: Acquisition of Traveljigsaw
- 14. Evolution of the Business Model 2003: Introduction of retail pricing 2005: Acquisition of booking.com 2006: Acquisition of Active Hotels 2007: Acquisition of Agoda Hotels 2008: Eliminated booking fee 2010: Acquisition of Traveljigsaw 2012: Acquisition of Kayak
- 15. n of the Busi ness Model Furt her Evolutio Shift Towards Social Media
- 16. n of the Busi ness Model Furt her Evolutio Emphasis on M- Commerce
- 17. n of the Busi ness Model Furt her Evolutio Focus on Retail Pricing
- 18. The Present
- 20. Val ue Propo sition? Buyers • Save money by trading off flexibility about brands, product features and/or sellers in return for lower prices
- 21. Val ue Propo sition? Sellers i. Minimize disruption of existing distribution channels and pricing structure ii. Maximize revenue iii. Minimize lost sales
- 22. R evenue M odel? Name Your Ow n Price Transaction Broker Connecting buyers and sellers for a transaction fee Online Retail E-tailer Commission fees from the merchants for the sales of discounted flights and hotels
- 23. arket Oppor tunity? M Poor Economic Conditions ravellers Pr ice-Sensitive Leisure T Excess Inventory/Ca pacity
- 24. Competition? Direct Competitors Similar Internet Travel Companies i. Expedia ii. Travelocity iii. Orbitz
- 25. Competition? Indirect Competito rs Online Airlines and Hotel Portals • Budget Airlines Discount websites • Groupon
- 26. ve Advan tage? Competiti 1. Cost Leadership
- 27. ve Advan tage? Competiti 2. Information Asymmetry
- 28. ve Advan tage? Competiti 3. First-Mover Advantage
- 29. Marketing Strategy Celebrity End orsement ng Search Engine Marketi Online Affiliate Mark eting
- 30. What is Priceline’s Impact on the Travel Industry?
- 31. act On Con sumers Imp Empowers consumers by making it easier to compare prices and features orant phic: pri ce-sensitive, brand-ign Open up a new demogra iously n ot afford to travel prev consumers who could
- 32. I mpact On I ndustry Increase Number of Efficient Transactions y Reduce Excess Capacit Enlarge Market Size
- 33. ating Book ing Fees Elimin Streamlined the ind ustry and increased overall effi ciency tly Encoura ge people to book direc d of thro ugh online sites, instea through airlines
- 34. The Future
- 35. Priceline: Success? Or Failure?
- 36. ine Failure Factors Pricel Porter’s 5 Forces • Low barriers to entry • Strong competitive rivalry • Strong supplier bargaining power • Price conscious buyers have little loyalty • Substitute products are increasingly common (budget airlines and hostels)
- 37. ine Success Factors Pricel 1. Priceline Group unique position à Greater synergy 2. Poor economic outlook à Price conscious market segment é 3. E-Commerce and M-commerce markets are set to grow 4. Promising company direction (diversification and marketing efforts) 5. Well-established brand name
- 38. Recap! Priceline ü Unique business model ü Impacted the travel services industry in a positive way Overall, • Sustainable competitive advantage • Strong potential to succeed