Boston Duck Tours Essay

Triple E’s main clients will be local area businesses who require access to marketing and event planning services but have no marketing/planning departments of their own. By focusing on businesses that have these specific needs, Triple E Marketing and Events will be able to provide smaller organizations access to comprehensive and combined event planning and marketing strategies, allowing them to create brand recognition and increased profitability for their businesses.

Walnut Venture Associates are a group of angel investors. In 1997 the club had around a dozen individual investors, forming an “angel group”. Their primary targets are investments ranging from $250,000 to $1,000,000. This is due to the gap of capital funds initiated by the VC’s from not considering investments bellow $1 million. Also, angel investors can acquire significant equity at low cost, and help the growth of the company with their knowledge and expertise. By selecting only the most exceptional people and ideas, investments in startups can lead to massive returns on relatively small investments. As unexperienced entrepreneurs, they are a key resource to have in order to achieve quick growth, and secure the company’s early stages.

2.Competitive Advantage – It includes the best product of an Organization in the competitive market.

Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to that of competitors at a cheaper cost. Having competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.

1. Competitive advantage is always revealed by a firm earning higher profitability than its rivals.

Henry Ou, Derrick Kwok, the President and the Vice President of Air & Sea Travel Center also serves as Tour Director of our company who would plan, organize, and conduct short-distance, long-distance travel, tours, and expeditions for individuals and groups. Mr. Ou and Mr. Kwok have experiences of planning and organizing trips, make sure everything runs according to the itinerary and make sure our valued clients safe and enjoy the trip. To be a successful Tour Director, personal skills and qualities are often more important than formal qualification. In memorable trip, our clients expect not only what they are going to visit, eat, and play, but also the excellent “people” skills of our Tour Directors who would bring them happiness, surprises, and make sure that arrangements for the group to run as smoothly and enjoyably as possible since the tourism industry is characterized by high-contact services in which co-creation of clients plays a major role (Grissemann & Stokburger-Sauer, 2012). Joylyn, Ina, and Phoebe are responsible for organizing and setting up the tour by making reservation for hotels, restaurants, cruises, gate tickets, and more. In most of the time, they would make a reservation earlier and deliver special requests to the service provider from the client in order to have availability to everyone in the group and make our client feel that they are valued because we listen and we care.

According to Porter (1985) a company can apply three generic types of strategies to protect itself while competitive force is a key issue of the management. To achieve this position a strategy based on competency must be accomplished

A Competitive Advantage is a peculiarity for an organization between it's competitors . It's achieved either by lowering prices or by greatening the value of the product or by offering luxury service and benefits to cope with high prices .

1. What is competitive advantage, and how does it relate to a company’s business model?

Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

In order to achieve competitive advantage, a firm must perform one or more value-creating activity that is more superior compared to other competitors. Superior value is created through lower costs or superior benefits to the buyers.

*  A competitive advantage is one that distinguishes a firm or a business from the competitors in the minds of the customers. It also refers to the state or ​condition that make a ​business more ​successful than the ​businesses it is ​competing with, or a particular thing that makes it more ​successful such as having a higher sales through offering low or affordable goods and services.

exists when the firm is able to deliver the same benefits as competitors but at a