Priceline.Com Essay

693 Words3 Pages
Priceline.com: Name Your Own Price Case Analysis Recommendations As part of Priceline’s strategy for enhancing its brand, expanding its franchise, growing revenues to over $1 billion, reducing operating losses, and improving operating margins, the company should implement the following strategies: 1. Focus on Travel -- Channel resources to focus on established travel markets that target budget-minded leisure travelers. Stronger brand recognition will be realized if they focus on travel industry offerings and avoid products that do not support the core brand identity or are less conducive to the “name your own price” methodology. Priceline should discontinue products that require a high degree of complexity, “hands on” involvement, or numerous decision variables such as mortgages, auto sales, and grocery offerings. Implementing this strategy will simplify the purchase experience by streamlining Priceline’s offerings and will eliminate fulfillment costs associated with non-core products. 2. Expand Internationally -- Leverage the existing business model and technology to partner with international carriers, cruise lines and hotels to expand overseas. Priceline can take advantage of established brand recognition within the U.S. to attract international partners and customers as the “name your own price” business model is also unique in the global marketplace. A natural first step would be to offer flights on U.S.-based airlines’ international routes and lodging with U.S.-based hotels that operate internationally. 3. Improve the Customer Experience -- Allow customers limited or low-cost flexibility to transfer airline tickets and hotel room reservations as this imposes little hardship on the company outside of processing the transfer. Additionally, the company should offer a cancellation or modification window of 24 hours on any “name your own price” offering,

More about Priceline.Com Essay

Open Document