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Fake Notes Week 1

by: Graham Irish

Fake Notes Week 1 ANTH 021 (Cultural Anthropology, Luis Vivanco)

Graham Irish
GPA 3.88

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These are the notes from my introduction section
Cultural Anthropology
Luis A. Vivanco
Class Notes
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This 5 page Class Notes was uploaded by Graham Irish on Monday August 15, 2016. The Class Notes belongs to ANTH 021 (Cultural Anthropology, Luis Vivanco) at University of Vermont taught by Luis A. Vivanco in Fall 2016. Since its upload, it has received 11 views. For similar materials see Cultural Anthropology in Cultural Anthropology at University of Vermont.

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Date Created: 08/15/16
MEMORANDUM To: Robin Gronlund File No: 123 From: Campbus Consulting, LLC Date: April 21, 2016 Subject: Cruise Ship Industry Analysis   ___________________________________________________________________________ This report examines the different factors that affect the cruise line sector of the deep sea  passenger industry. The cruise industry experienced choppy waters during the global economic  crisis, but it has been able to weather the storm and is now experiencing sustained and rising  growth. The purpose of this report is to provide the information necessary to form a detailed  understanding of the cruise industry, and determine the best market entry strategy.   History of Cruise Industry:  The cruise industry began in the 1960’s and 1970’s. Before the 1960’s, ocean liners served as  massive passenger vessels that ferried people of all socioeconomic classes from continent to  continent, usually from Europe to North America. According to The Geography of Transport  Systems, these ships provided affordable transport for lower class passengers, but also catered to  the extravagant pleasures and comforts of the rich. However, the creation of jet travel in the  1960’s led to a decline in demand for ocean liners, because planes were much faster and more  efficient (Rodrigue, 2015).  As a result, ocean liners were promptly repurposed for a new form of travel, specifically, cruises  intended for vacations and relaxation. Instead of simply delivering masses of people to and from  international destinations, remodeled ocean liners became the most practical means to experience new and diverse locations. To ensure sustainable revenue, cruising companies avoided merely  marketing to the rich. Instead, cruise lines opted to leverage “economies of scale” by marketing  to a wide demographic (Rodrigue, 2015). Cruise owners hoped to take advantage of the fact that  “larger ships are able to accommodate more customers as well as creating additional  opportunities for onboard sources of revenue” (Rodrigue, 2015). Therefore, cruise lines became  venues for thousands of people to travel, relax, and spend money.   Initial Gain in Popularity:  Cruise ships first became popular because they offered easy and comfortable travel to exotic  places. Unlike traditional vacations, cruise trips did not limit recreation to merely one  destination, but could dock at several locations. Cruise lines marketed themselves as the  providers of new experiences for vacationers. Because cruise ships carry relatively little cargo,  they were light enough in the water to fit into many different ports that normal passenger  transports did not previously access (Rodrigue, 2015). As a result, newly formed cruise  companies could advertise various special ports and excursions, which promoted popularity.  State and Size of Industry The Deep Sea Passenger Industry has experienced substantial revenues and continued growth.  Revenues for this industry have increased steadily at 1.9% annually over the past five years,  from $34 billion in 2010 to $37.5 billion in 2015. Profits in 2015 exceeded $3.5 billion (Soshkin, 2015). The industry has slowly been recovering after the global economic crisis, which had its  greatest effect on the market in 2009, cutting revenues by 11.4% (Soshkin, 2015). Growth has  also been affected by the negative attention cruises have received for recent accidents and health  concerns, such as the capsizing of the Costa Concordia off the coast of Italy and bacterial  outbreaks that have happened on cruises. However, the market has been steadily recovering and  revenue growth is returning.    The cruising industry has reached maturity, and much of the market share has been established.  Certain companies, namely Carnival, Royal Caribbean Cruise Ltd., and Norwegian Cruise Line  Holdings Ltd., control the majority of the market, making it difficult for new companies to enter  (Soshkin, 2015). The market itself is highly competitive. This level of competition could  potentially restrict entry into the market. High start­up costs, such as buying a cruise ship, also  make entry difficult. However, once a market share is established, revenue volatility is low,  meaning that it is a relatively safe investment to make if done correctly.  Currently, key success factors in this industry are business expertise, rapid expansion, and  consumer satisfaction (Soshkin, 2015). Paying attention to consumer preferences is very  important, and failure to do so will lead to loss of market share. Trends show that consumers are  more concerned about the quality of their cruising experience than the cost of the cruise  (Soshkin, 2015). In response to these trends, cruise companies have started to create larger, more luxurious, and extremely expensive ships to fulfill consumer demands. While they may be  expensive, the return on investment is proportionate. The next five­year model has a positive  forecast, showing an increase in expected annual growth at 2.2% per year for a projected total  revenue of $41.8 billion in 2020 (Soshkin, 2015). The market is expected to continue to grow at  an increasing rate, but in order to capitalize on this growth it is important to expand rapidly once  inside the market by meeting consumer needs and expectations. Cost of Cruise Ship Evaluation                                                                                                                                                             There are many factors that are involved in the pricing of cruise ships. Firms can either construct  new ships, or, if they are looking to save money, they can refurbish a used one. The cost of  2 building a cruise ship depends on boat size, quality, onboard features, weight, and hauling power (Chanev, 2015). Cruise ships are built by private sector companies who are contracted to build  ships. Different companies will have different shipyards where their construction takes place.  These companies hire naval engineers to design the hulls of the ships, then have architects  retrofit the interiors and special features. Design and construction can take over three years, and  it is a costly process. The average cost to build a new ship is between $700 and $800 million, but prices have gone upwards of $1.2 billion (Chanev, 2015). The most expensive cruise ship in the  world is the Royal Caribbean LTC’s Allure of the Sea, which cost $1.4 billion. Buying a used ship and refurbishing it can be much cheaper than building a new boat, and has  become a popular option among companies in the cruise industry. There is a market for used  cruise ships, the supply of which consists mostly of cruise ships from the 1980’s and 1990’s that  have been replaced by newer ships (Chanev, 2015). Companies that already own cruise ships can simply refurbish their old ships, which costs between $50 million to $500 million, depending on  the amount of work needed (Chanev, 2015). For companies that don’t already own a cruise ship,  used ships cost anywhere from $10 million to a few hundred million dollars plus the costs of  refurbishing (Chanev, 2015).  Themes Consumer preferences are extremely important to pay attention to in the cruise line industry. A  themed cruise that caters to consumers will generate a large amount of demand. We propose two  potential themes to help your cruise line attract a new demographic of cruisers. The first theme is a spring break destination theme, and the second is a summer music festival tour. The target  market for both of these themes will be young adults, mainly college age individuals or slightly  older. Young adults have previously been unreached cruising customers. The spring break theme aims to mimic the marketing scenes of the major spring break venues across Central and South  America. The summer music festival theme will tour different summer music festivals across  North America. Vacationers will be constantly entertained, whether on or off the boats.  The spring break cruise will take place between February and April, when the majority of college students are on break. It will make two stops in Central America, where guests can get off board  and spend a day at the beach experiencing the culture. Guest will spend the majority of their  vacation on the boat, and the ship must be prepared with 24/7 entertainment. It should include a  stage, a large scale pool deck, and a nightclub to keep guests engaged and spending money for  the entire trip.  The key to the marketing theme for the summer music festival theme is making sure that  customers are experiencing a very broad selection of music and festivals. The trip will be  planned so that guests are at each music festival for the day that the headline artist is performing. These big name artists attract with them a following of loyal fans and potential customers for our cruises. Guests would purchase all inclusive tickets giving them access to a number of music  festivals as well as any on­boat entertainment. Unlike our first proposed theme, the entertainment 3 will be mostly off of the boat, while we offer a more comfortable and relaxing atmosphere for  guest to unwind in between venues. The boat would be focused on relaxation. Conclusion Cruising was established in the 1960’s as a way to keep the ocean liner industry alive, and has  since grown into a multibillion dollar a year industry. Cruises quickly gained popularity because  of their ability go to many different destinations all during one vacation. Since experience losses  during the global economic crisis in 2009, the industry has seen steady growth. Now, much of  the market has been claimed by major companies, and gaining market share is difficult. Start­up  costs are also to be considered by any firm trying to enter the market. Despite these factors, the  cruise industry generates significant revenues, and companies that are able to succeed have high  probabilities of staying profitable. In order to enter the market successfully, a firm must create  demand and expand rapidly.    Marketing Recommendations  Based on these conclusions, we believe the best way to enter the market is to create a new  market segment. Young adults represent a large portion of the potential market that has been left  uncharted. We suggest that you reach this target market by incorporating trends, like spring  break and summer music festival tours, that are already established for their demographic.  Offering group discount rates and advertising through social media and streaming services, such  as Facebook, Netflix, and YouTube, is a great way to create demand. Media outlets are popular  among young adults. Advertising on college campuses can also be an effective method to reach  our target market. We recommend utilizing celebrity appearances and big name concerts in  addition to the cruise itineraries to generate publicity. These themes will attract corporate  sponsorships from brands who can attract customers and provide a major revenue stream. These  partnerships would combine with our marketing efforts and promote specific events, gaining the  attention of a much broader audience.  To gain market share, this cruise line must set itself apart from its competition by allowing  guests to have more than just a typical cruise experience. For this reason, we suggest to make  your own ships than can be made to your specifications. To reach this market, stay away from  casinos and shopping venues, and make the ships have open floor plans optimal for events and  socializing. Architects can design the interior of the ship, and though it may be more expensive,  it will create a significant and profitable market. The uniqueness of the cruise ships and their  target market will allow you to enter the market easily and expand quickly.   Citations Chanev, Chadvar. (2015). Cruise Ship Cost to Build. Retrieved from­how­much­does­a­cruise­ship­cost Rodrigue, Jean­Paul, Notteboom, Theo. (2016). Geography of Transport Systems: The Cruise 4        Industry. Retrieved from     Soshkin, Maksim. (2015). IBISWorld Industry Report 48311: Ocean and Coastal Transportation  in the US. Retrieved from entid=1138 5


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