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Learning objectives
At the end of this chapter the reader will be able to:
- Describe the importance, ownership patterns, and market characteristics of airlines, rail, cruise and other ships, private cars, recreational vehicles, car rentals, and motor coaches.
- Describe the characteristics of economic and physical regulation in the transportation industry.
- Discuss the types of international air agreements common to the industry.
- Outline the major effects of airline deregulation.
- Show how the demand for and supply of transportation services leads to particular marketing strategies.
- Define and correctly use the following terms: scheduled air carrier, passenger load factor, charter air carrier, affinity charter, deregulation, rail support, cruise freighter/cargo liner, motor coach, Federal Aviation Authority, International Air Traffic Association, primary demand, demand elasticity, capital intensity, incremental cost, direct distribution, vertical integration, contribution theory, domestic trunk line, domestic regional line, public charter, single-entity charter, hub and spoke, Amtrak, car rental, Civil Aeronautics Board, bilateral agreement, derived demand, frequent-flyer program, income elasticity, sunk costs, lineal route structure, indirect distribution, differential pricing, incremental concept.
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