Inside Royal Caribbean Cruise Lines
Page 1 Royal Caribbean is a $4 billion company that began in 1969 in Norway. It’s the second largest cruise line on the market behind Carnival that makes up 27% of the world’s cruise market. Edwin Stephan and Arne Wilhemsen merged their ideas together to present cruises to the Caribbean for wealthy people living in Florida. Three Norwegian shipping companies established Royal Caribbean Cruise Line: Anders Wilhemsen and company, I.M. Skauge and company, and later Gotaas Larsen. The current chairman and CEO is Richard D Fain, and the President and CEO is Adam M. Goldstein. The cruise line is based in Miami, Florida and owned by Royal Caribbean Cruises, Ltd.
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They have various attributes, consisting of; state-of-the-art cruise ships, luxury, variety of itineraries to various destinations, vast array of onboard activities, dining and entertainment, etc.” When associating Royal Caribbean to everyday life, the song “Lust for Life” by Iggy Pop can be quickly recognized. This song is used in Royal Caribbean commercials along with visions of ecstatic vacationers’ glacier trekking and swimming with sting rays. Royal Caribbean’s marketing campaign won awards in 2002. The purpose was to” redefine the perception of cruising by spotlighting the visionary and innovative new ships and shore programs that are the core of a Royal Caribbean vacation experience.” The strengths of Royal Caribbean are their dominant business position, their strong brand recognition, and their consistent increase in revenues. Their weaknesses are their increasing expenses, low efficiency, and their inadequate presence in a high growth European market. The opportunities are favorable demographic trends, marketing alliances, and improved cruise passenger traffic. The threats are the weather conditions, severe competition, and high fuel prices. In conclusion, I feel that Royal Caribbean has successfully achieved their mission and vision. They don’t have any specific demographic and targets every age group. The service that is