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Client Speak |
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The need for tools, such as Electrobug's suite of products, to establish the
real market price indicators has grown enormously. We firmly believe that there
is a compelling case for suppliers and Intermediaries to deploy the Electrobug
technology.
Timothy O'Neil-Dunne,T2Impact |
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The travel industry is not only the world's largest industry, but also the most price competitive. From flight bookings to hotel reservations to car rentals, consumers are becoming increasingly price conscious and discerning. The growth in on-line options has created a revolution in buyer behaviour.
As a travel agent, you probably see your customers using the Internet in ways that make your job more reactive than proactive. You realise that in order to stay competitive, you need to switch to a merchant model - allowing you greater flexibility in attaining your margins. But you need to:
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Gauge Prices
Match your prices against merchant/negotiated deals that are not available on current third-party databases (e.g. SABRE, WorldSpan, Galileo). |
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Professional
Pricing Society |
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Plan New Deals
Use information to create offers that are based on a real-time view of the competitive landscape. |
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Re-Evaluate Existing Deals
Shape your deals and fare structures based on your competitive standing. |
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Substantiate Your Price Promise
Be sure of your market standing with hard facts. |
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To win, you need to be aware of the best prices on the same air routes, hotel rooms or car rental deals offered by your competitors. Even if you are able to get all this data, you still have the challenge of comparing the same travel products. This is where Electrobug can help.
You or your managers need to be equipped with timely, high quality and cost-effective pricing information on which to make real-time decisions. Whether you: |
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Use a specific "price index" or "price position" relative to your competitors |
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Use complex pricing rules via internal macros |
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Apply algorithms to optimize your pricing, or |
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Informally and rapidly want to know where you stand in the market. |
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The challenge is in order to make these decisions, competitor prices need to be retrieved in a standardised format, matched to the products (e.g. city pairs, room types), and then fed into a report, often resulting in impartial and dated competitor information. Traditionally, many travel agents have addressed this either informally or with a dedicated in-house staff, which has often been enough in the beginning. However, with more complex pricing models based on inventory, increasing price transparency and competition, these simple solutions often lead to unsatisfactory, unreliable or incomplete results.
Electrobug's offerings dramatically assist you and your team in getting a jump on the competition by providing faster, higher quality and cost-effective price comparison information. More importantly, where pricing comparisons are not always as easy as they seem (e.g. a hotel properties are not the same), our solutions intelligently combine technology with human judgement to ensure you are getting superior information. |
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Electrobug Rate and Fare Index |
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Start early! To get valuable intelligence regarding your competitors, any
morning of your choosing, you and your colleagues receive an Electrobug Rate
and Fare Index email with your choice of city pairs, properties, and car hire
prices, the market prices, and the lowest price in the geographic market of
your choice. The Electrobug Rate and Fare Index also provides variance metrics
on price - both in absolute and in percentages to allow for you to see how the
market is evolving both in terms of time and geography.
You have control over which web sites and "products" on which to base your
price-tracking information, all incorporated in the Electrobug Rate and Fare
Index. In addition, Electrobug can incorporate other agency-based feeds for
even more robust and compelling results.
The Electrobug Rate and Fare Index can be provided at whatever frequency is
desired to suit your team's needs, and can be delivered in a customised, easy
to use format. For example, Electrobug can provide:
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strategic reports to provide high quality management information for your executives |
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accurate tactical reports for trading managers |
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up-to-date marketing feeds to substantiate your low price guarantee |
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Electrobug Web Tools |
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Electrobug provides a number of options to enable all your
internal constituents to access the data. You can have all of your team members
receive the Electrobug Fare Index in their inbox - or we can provide secure
access to our Web Tools interface, enabling you to choose who within your
organisation can access the data online. The Web Tools interface also provides
you with direct, hands-on access to your data - allowing you to cut and paste
as you wish.
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Electrobug Fare and Rate Alerts |
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What if you need to realign pricing quickly according to pre-specified rules?
To address this need, Electrobug offers the Fare and Rate Alert service which
tracks your competitor's price movements and will alert you or your team about
competitor activity in your most geographies, properties or routes based on
thresholds and performance metrics that you specify. These Alerts will
instantly advise your team of key variances. Metrics like biggest movers and
shakers, biggest price differences, and recommended price changes are all
available. Alerts can be sent on a daily or weekly basis, depending on your
needs. Fare and Rate Alerts were created to help you formulate business
processes that virtually guarantee you will remain price competitive in today's
volatile market.
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Request a Quote |
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Interested in our solutions? Request a Quote!
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