Good management of strategy

Since it was founded, Priceline Group has been able to maintain its leadership position in the online travel industry thanks to an amazing system. The first plan of action has ensured that it is steady with the people who have a stake in the company as well as its clients. Additionally, these associates offer the company's clients trustworthy recommendations. Through Booking.com, clients can recommend prices they are happy with, and the company can then make recommendations that would work for their needs.
Priceline Group's SWOT analysis reveals a number of its fundamental strengths. They take into account the organization's global reach, which makes it trustworthy, its productivity in dealing with consumers, makes it reliable, a dedicated client base that ranges crosswise over nations, and the capacity to extend and take advantage of new nations effectively (Goldsmith, 2013). However, the organization has some shortcomings, for example, dangers like terrorism that disturbs the organization's operations. Still, the organization does not claim lodgings, rental autos, or carriers. Therefore, it must depend on different suppliers. Finally, the organization should be keen on the profoundly unpredictable security exchange.

In spite of the fact that Priceline.com is the greatest and well-doing organization on the market, it also faces competition. Some of its main rivals are Orbitz World Wide and Expedia. Nonetheless, though Expedia was started about a year before Priceline, the latter is four times greater currently (Goldsmith, 2013).

Priceline.com procedure is extremely effective. Initially, by asking customers what their value ranges are, the organization gives the customers an attractive situation to pick the best administrations that match their money-related abilities in a fair way (Chen, 2012). Besides, the close relationship with specialist organizations, including carriers, inns, rental auto firms, it makes priceline.com have the capacity to secure the best administrations for its customers. The patent method of business provides security. Subsequently, the organization contacts many individuals through associations and systems it has devised.



References

Chen, C. H. (2012). Name your own price at Priceline.com: Strategic bidding and lockout periods. Review of Economic Studies, 79(4), 1341-1369.

Goldsmith, D. (2013). Rethinking the company's competitive advantage. Financial Executive, 29(6), 14-18.