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@22014 Noctober Value Partners, LLC All Righs Reserved Dealing with Disruption through Customer- centricity Del Ross December, 2014

Dealing with Disruption through Customer Centricity

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@22014 Noctober Value Partners, LLC All Righs Reserved

Dealing with Disruptionthrough Customer-centricity

Del RossDecember, 2014

Frogs have it pretty good…

@22014 Noctober Value Partners, LLC All Righs Reserved

Umm…@22014 Noctober Value Partners, LLC All Righs Reserved

Hotels

Online Travel

Agencies@22014 Noctober Value Partners, LLC All Righs Reserved

@22014 Noctober Value Partners, LLC All Righs Reserved

We understood the Customer

…but not as well as we thought

@22014 Noctober Value Partners, LLC All Righs Reserved

This strategy failed.

So what is the right one?

You are going to be disrupted.

Disrupt yourself.

Thank you.

@delross