- Published: November 14, 2021
- Updated: November 14, 2021
- University / College: Harvard University
- Language: English
- Downloads: 20
Carnival plc is one of the companies that have enjoyed continuous dominance in the field of cruise lines in the tourism industry. However, consumer’s confidence has continued to deteriorate recently due to progressively more price competitive alternatives on vacations and mishaps that have occurred on several instances. Thus, rebuilding its brand loyalty and market share is essential for its survival in the current industry.
Carnival has to speed up the rate at which it is installing the new technology on its ships to beef up security and modernity. Some of the consumers who have remained loyal to the brand are attracted to new modern ships with updated technologies like GPS and beefed up security system from other companies like Disney. Therefore, to boost confidence of its clients, it is vital to hasten the process of building new ships (Vogel & Alexis 29).
As a way of rebuilding confidence, Carnival will also have to look into its price competitive edge. This is attributed to the fact that, despite the fact that there are new competitors in the market with modern facilities and better services, Carnival provides low customer service but at an expensive rate. Most consumers of this brand perceive the service to be expensive when compared to other companies that have modern ship facilities (Vogel & Alexis 30).
More so, vacation alternatives have increased in areas that Carnival has not ventured into. The best option in this case is for the company to market its brand in new vacation destinations that other cruise ship companies sail to. Satisfying customer’s perceived value and new marketing strategies can help rebuild brand loyalty and market share as it is used by most companies that have overtaken Carnival. In addition, committing the customers to exclusive services from the company and maintaining the commitment to provide the best service can also boost customer confidence hence, promoting market share in new vacation destinations (Osley & Simon 7).
Work cited
Vogel, Michael, Alexis Papathanassis, and Ben Wolber. The Business and Management of Ocean Cruises. Cambridge, MA: CABI, 2012. Print.
Osley, Richard, and Simon Barrow. The Employer Brand: Bringing the Best of Brand Management to People at Work. Hoboken, N. J: Wiley, 2013. Internet resource.
