HCBE Faculty Articles

Title

Entering the Tourism Industry and Generation Y “Prospects:” Turkish Entrepreneurs Planning to Enter the American Market

Document Type

Article

Date

5-1-2004

Publication Title

International Business and Economics Research Journal

ISSN or ISBN

1535-0754

Volume

3

Issue

5

First Page

1

Last Page

10

Description

Many foreign firms competing globally are trying to secure a piece of the tourism market share in the United States. However, people are finding that starting and expanding a new business in the tourism industry to American consumers in the United States can be challenging. This document explores the strategy and mission of Turkish entrepreneurs assessing the tourism industry from a global perspective and choosing the United States to start securing a piece of the market with Generation Y individuals due to the countrys economic factors, the spending power of the average person, the hunger for cultural awareness and diversity, and the political stability of the country. Overall, the marketing strategy of the organization is discussed for the following factors: the product/service, pricing, distribution, and promotion. For calculating the budget, two options which are the fixed costs and the variable costs options are discussed. The focus of this study was to set up a business in a country such as the United States because such a country would have various types of diverse markets. The average income of most consumers in the developing countries seems to be sufficient to purchase services for pleasure, cultural awareness and other desires they would like to pursue. As such, it makes good business sense to enter this competitive market by differentiating ones offering through price, product and service quality to guarantee initial success.

DOI

10.19030/iber.v3i5.3693

This document is currently not available here.

Peer Reviewed

Find in your library

Share

COinS