Information technology has come quickly into society’s life and taken a firm hold on much of how we live, work and interact with each other. Today, it is almost difficult to imagine what the world would be like if the Internet and all of its trappings were suddenly to disappear. Technology has become woven inextricably into so many facets of everyday life, especially business.
Today’s hyper-competitive world is thanks, in part, to eBusiness. eBusiness now allows buyers and sellers of every imaginable product and service to transact business virtually. Geographic location is now only a minor factor, and as such, competition has increased on a magnitude never before seen. Whole industries have been created in the wake of eBusiness, and traditional industries have been forever changed. One such industry that will never be the same is the travel industry.
Table of Contents
1. Abstract
2. eBusiness: Revolutionizing the Travel Industry
Objectives and Core Themes
This paper examines how the emergence of eBusiness has fundamentally transformed the travel industry, shifting traditional booking processes to virtual platforms and enabling global market access. It explores the competitive landscape, changing consumer behaviors, and the rapid growth of online travel agencies.
- The transition from traditional "brick-and-mortar" travel agencies to "click-based" online platforms.
- Key success factors for major eBusiness entities like Expedia, Travelocity, and Priceline.
- Analysis of consumer demographics and their comfort with online security and travel planning.
- Impact of technological integration on global industry reach and competition.
- Future growth projections for online travel sales based on demographic trends.
Excerpt from the Book
eBusiness: Revolutionizing the Travel Industry
Thanks to eBusiness, the travel industry has been revolutionized. New electronic travel vendors have sprung up like wildfire. Companies like Expedia, Travelocity.com, Cheap Tickets, and Priceline.com, have become household names. Travelers can now research, price and book all of their travel needs all without leaving their home or speaking with a live person.
The types of activities and features that are made possible in the travel industry, thanks to eBusiness are numerous. Research of travel destinations is one such activity. Travelers can view a multitude of sites on almost any destination to discover information about the area. Local attractions, average weather conditions, listings of lodging facilities, historical areas, discount coupons, and more are all available with a few clicks of the mouse. Potential visitors can even read online reviews of the area and recommendations of where to stay and what to see while visiting.
Once a traveler has decided on where they would like to visit, thanks to eBusiness, they are now able to research a plethora of travel details. Flight schedules and costs are one such activity. Travelers can visit airline websites directly or the all in one travel sites, such as the four that were mentioned previously. They can decide which schedule fits their needs the best, compare costs, number and duration of layovers, and more, conveniently and quickly.
Chapter Summary
Abstract: Provides an overview of how information technology and eBusiness have integrated into daily life, setting the stage for the specific impact on the travel industry.
eBusiness: Revolutionizing the Travel Industry: Analyzes the shift in travel commerce, highlighting major companies, consumer adoption trends, and future market growth statistics.
Keywords
eBusiness, Travel Industry, Online Travel Agencies, Expedia, Travelocity, Priceline, Consumer Behavior, Information Technology, Internet Sales, Market Competition, Travel Booking, Digital Transformation, Demographic Trends, Global Marketplace.
Frequently Asked Questions
What is the core focus of this research?
The paper focuses on the transformative impact of eBusiness on the travel sector, specifically how virtual transactions have changed consumer habits and industry operations.
What are the primary themes discussed?
Key themes include the rise of online travel vendors, the decline of traditional travel agency models, consumer technological proficiency, and the financial growth of online travel platforms.
What is the main objective of the study?
The objective is to document the revolution of the travel industry through technology and to analyze the demographic and market forces driving this digital transition.
What methodology is employed in this paper?
The paper utilizes a descriptive analysis approach, synthesizing market data and industry performance reports to evaluate the growth of eBusiness in travel.
What does the main body of the document cover?
The main body examines specific companies like Expedia and Priceline, compares 'click' versus 'brick' business models, and presents statistics on future market expansion.
Which keywords characterize this work?
Essential keywords include eBusiness, Travel Industry, Online Travel Agencies, Consumer Behavior, and Digital Transformation.
How does the 'name your price' model impact the industry?
The 'name your price' model, as implemented by Priceline, introduced a highly innovative, price-sensitive approach that disrupted traditional pricing structures for airfare, hotels, and rentals.
Why are baby boomers considered a lucrative demographic in this context?
Baby boomers possess increasing levels of disposable income and leisure time, making them a primary target for the growing array of travel products available online.
- Quote paper
- Kimberly Wylie (Author), 2003, eBusiness: Revolutionizing the Travel Industry, Munich, GRIN Verlag, https://www.grin.com/document/60431
