Part D: Your Marketing Plan: Presentation
Part D: Your Marketing Plan: Presentation
Overview
Create a PowerPoint presentation in which you present your full marketing plan from all your previous assignments. References are required. This presentation does not require any video or audio narration.
Instructions
Create a PowerPoint presentation in which you:
- Present the major points of your marketing plan.
- Clearly convey your ideas.
- Create a professional presentation.
- Use technology (title slide naming conventions) to convey ideas.
- Use proper grammar.
This is the information to include on your PowerPoint title slide:
- Your First Name, Your Last Name: Shark Tank Investment Pitch
- MKT500 Marketing Management
- Strayer University
- Instructor’s Name
- Date Submitted
The specific course learning outcomes associated with this assignment are:
- Present an effective marketing plan.
Running head: PART A: MARKETING PLAN GREAT TRAVELERS AIRLINE
1
11
PART A: MARKETING PLAN
2
Part A: Great Travelers Airline Marketing Plan
Eric Brown
MKT500 Marketing Management
Strayer University
Dr. Lisa Amans
July 20, 2020
Introduction
Great Airline Travelers Express Limited is a private independent airline operating a fleet of aircrafts for economic and VIP class travelers. The fleets comprise of aircraft not more than 65 fleets. Ideally, the company is located in major cities across the entire United States. In addition, the company is specializing on providing ultra-low-cost carriers and niche services.
Mission Statement
The mission of Great Airline Travelers Express Limited is commitment to offer exemplary quality customer services with a sensation of friendliness, independent pride, company spirit, and warmth. The Great Airline Travelers Express Limited mission statement shows their commitment to customers and pin points the importance of independent interactions between customers and employees.
Goals
Great Airline Travelers Express Limited is a local travel airline that is committed to offer the best quality transportation services and to optimize returns for the benefit of its employees and shareholders. The company aims to connect major airlines hub through contractual engagement, provide exceptional professional principles in their endeavors and strives to be outstanding in everything they do in collaboration with major Airlines.
Short Term
Short-term goals are used by Great Airline Travelers Express Limited to fulfill their bigger aims (Sahar, 2020). These short-term goals include improvement of customer services. The airline is determined on placing their focus on the entire journey. Customer’s journey starts before they arrive at the airport and progresses after the flight has landed. In addition, the airline has been building their relationships with their customers and giving power to them.
Furthermore, another short-term goal of the airline is to identify their fierce competitors. Understanding what the company’s competitors are currently doing in the market, their pricing strategy, marketing strategy, and the companies they collaborate with is vital for the Great Airline Travelers Express Limited. Additionally, the Great Airline Travelers Express Limited will incorporate social media in its marketing strategies. Social media marketing will increase traffic, customer satisfaction, and interaction and feedback. It will also enable Great Airline Travelers Express Limited to respond to their customers immediately.
These goals are assessed by tracking customer engagements. If the customers are frequently engaging the airline for instance through social media, then the Great Airline Travelers Express Limited will be able to know if their customers are satisfied or not. In addition, these goals can be assessed tracking retention. If employees and customers are retained then the Great Airline Travelers Express Limited will have met their short-term goals.
Long Term
The Great Airline Travelers Express Limited has identified several long-term strategic goals. Currently, the operating environment of airlines is very challenging, but Great Airline Travelers Express Limited is seeking to offer low fares that give rise to increased customer traffic while progressively focusing on maintaining cost-control and operating proficiency. Low fares are developed to stimulate demand, specifically from fare-sensitive business and leisure passengers who might choose to use other forms of transportation or choose not to travel at all.
Similarly, the airline is striving to provide exemplary customer services than its rivals. The Great Airline Travelers Express Limited has a proven legacy for less flights cancellations, infrequent loss of bags, and excellent time management than its competitors do. The airline achieves this by concentrating seriously on the implementation of these services and by mainly operating from uncongested airports.
Additionally, Great Airline Travelers Express Limited long-term goal is to offer point-to-point service on short-trail routes. The airline offers frequent point-to-point service on short-trail routes to regional and secondary airports in and across major populace areas and travel destinations. Moreover, the airline goal is to utilize the latest technology in its operations. Modern technology will enhance efficiency that lowers costs and advance customers experience. It also provides real and palpable benefits to travelers. Other long-term goals include focus on quality and safety maintenance, low operation cost maintenance, collaboration with top airlines, and countering current problems.
Long-term goals are assessed by monitoring the rate of growth compared to the competition and the market. If the enterprise is growing despite the presence of fierce competitors and other challenges, then it is a good indication that the Great Airline Travelers Express Limited is meeting its goals. Furthermore, tracking increase in market share can be used to assess long-term goals. If Great Airline Travelers Express Limited progressively increases market share then the enterprise is on the right track.
Environmental Analysis
Environmental analysis is a vital tool for Great Airline Travelers Express Limited in gaining deeper insights and decision making in all aspects of its business. The company’s success largely relies on critical decision-making capability. Environmental analysis enables Great Airline Travelers Express Limited to select the best option for its success and growth.
Competitive Analysis
There are approximately twelve independent private Airlines in U.S. In addition, competition also exists from a number of regional and national airlines that pose steep competition on small-scale airlines. The rival forces compete on services and prices. The rival has smartly utilized e-commerce such as online booking and ticketing. The weakness of the rivals is that they have not attained to provide quality travel services at a low-cost. Great Airline Travelers Express Limited differentiates itself due to its capability of delivering services and products with high margins based on low costs.
Economic Analysis
Rising fuel costs is a significant economic factor that affects the aviation companies. Increasing fuel prices largely lowers the profit margins for Great Airline Travelers Express Limited. The company will focus on increasing the volume of its passengers in order to manage its profit margins. In addition, increasing airline travel because of growing economies and burgeoning middle class is important. Furthermore, Great Airline Travelers Express Limited is experiencing the adverse effects of COVID- 19 pandemic on its aviation economy.
Finally, Great Airline Travelers Express Limited focus on United States regulation on emissions from aircrafts and recognition by government and independent agencies in the sector of sustainability is likely to raise the costs for the company. Generally, the economy of the United States for the past several years has remained stable and the rate of unemployment has been low. Because of this, many Americans are able to spend their leisure time travelling which boosts the growth of the Great Airline Travelers Express Limited.
Political and Legal Analysis
Political structures of a nation and their interrelationship with business world have far-reaching effects on aviation economy. There is no optional for airline companies to abide by government policies, they must adhere to them. The political circumstances may entail the economic situations or wars. Increased taxation policies are favorable for the company in terms of revenue, for several years’ taxation burden on aviation industry, has consistently been increasing.
Similarly, Great Airline Travelers Express Limited must adhere to political factors, such as agreement for particular routes (Tran, 2019). Terrorism threats may likely affect the services of the company. Moreover, strong opposition to cooperation with Middle East carriers is like to have impact on Great Airline Travelers Express Limited. Finally, Great Airline Travelers Express Limited is experiencing aggressive policies by the FAA and Dot, in terms of air snarl-up management, control of growth of air as well as checks on registration of aircrafts and their parts.
Most of these government policies are costly and affects the Great Airline Travelers Express Limited ability to create jobs and facilitate growth. Concisely, any slight transformation in the United States government regulations on fuel generation, taxation, transportation and marketing will automatically have some negative repercussions on the revenues of Great Airline Travelers Express Limited.
The legal factors are wide and complex set of policies or laws that affect Great Airline Travelers Express Limited in United States. There are several laws that influence United States aviation industry and carriers. FAA is the sole regulatory agency that checks on the airline operations and associated policies. The major concern of the FAA is the safety regulation for passengers and many other aspects such as operations, customer service, labor and environmental issues, which demands that all airlines must comply or face the risk of being fined heavily.
For example, the dangerous flaws in the Boeing 737 Max 8, Great Airline Travelers Express Limited to ground all its flights of similar make. At the time FAA order was enforced, the Great Airline Travelers Express Limited had eight planes of the Boeing 737 Max 8 among its fleet, which were grounded affecting the revenue flow. Great Airline Travelers Express Limited is the most compliant airline company. Several policies and laws are consistently growing and that strict compliance has had obvious outcomes in both short term and long-term goals of Great Airline Travelers Express Limited.
Technological Analysis
Technological and technology reasons are playing pivotal role in the aviation economy as far as competitive advantage and growth is concern. Technological innovation in the Great Airline Travelers Express Limited has increased because of the long-term focus on consumer reliability, safety, and rising competition. In addition, increased automation, effective aircrafts and secure airline technologies are vital to business of Great Airline Travelers Express Limited. Increasing use of mobile phone apps and abilities alongside google payment has broadened passes.
The company has made effective updates on its messaging systems to facilitate high client convenience and sophisticated overall experiences. Great Airline Travelers Express Limited is also utilizing digital technologies for marketing such as Instagram Facebook and Twitter for promotion and customer involvement. Technology has been vital in optimizing airline performance and sustaining competitive advantage by Great Airline Travelers Express Limited.
Sociocultural Forces Analysis
Sociocultural factors in the context of business world have also been rising. Demographic factors have an influence on various aspects of trade including local and regional marketing operations. According 2019 survey on posterity to travel, indicated in millennial group showed that 14 percent of people in United States are aged between 19-35 years, travelled more than five times during the last two years for personal reasons.
Social factors influence Great Airline Travelers Express Limited. The economic and technological consciousness in society has an effect on the demand of air travel. The social model of Great Airline Travelers Express Limited is vital factor in terms of customer loyalty, marketing and demand. To develop and maintain the social image the company has invested heavily on social responsibility. Great Airline Travelers Express Limited is recognized for its critical focus on customers, which is pivotal in sustaining competitive advantage. However, social factors contribute to inadequate pilots.
SWOT and Needs Analysis
The SWOT analysis of Great Airline Travelers Express Limited is a proven management tool that enables the company to benchmark its performance and business as compared to the rival airline industries. As at 2020, Great Airline Travelers Express Limited is the leading regional airline company in United States.
Table 1
Great Airline Travelers Express Limited SWOT Analysis
|
Strengths · Robust operational connections that is more than 2000 flights in a day to 200 destinations · Low-cost and high quality services make it the favorite airline to travel in. This has contributed to increase in revenue generation. · Excellent client experience with branding image, comfort and entertainment attracts large number of customers |
Weaknesses · Weak financial muscle due to constant losses that hinders the company from meeting its goals · Over reliance on 3rd party collaboration to offer services for its customers, fueling, operations and maintenances. · COVID- 19 pandemic has disrupted aviation business. It has led to closer of some destinations |
|
Opportunities · Steady growth of airline economy in U.S. will influence long-term marketing plans and customer oriented services · Strong United States economy will influence company’s revenue growth and the quality of services and product provides to the customers. · Growing regional travel among the millennials customers enables the company to increase revenue generation and forecast on its long-terms goals. |
Threats · Strong completion from rival airline companies who have specialized on regional travel on low cost airlines and discount provision. This contributes to loss of customers. · Increasing fuel prices hence high cost of operations and low revenue returns that is likely to contribute to low quality customer services. · FAA policies for example grounding of Boeing 737 Max 8 and related models have grounds the company’s operations leading to customer loss and low profits. |
Note: Strengths, weaknesses, opportunities, and threats for Great Airline Travelers Express Limited Company
Conclusion
Great Airline Travelers Express Limited is an independent regional airline that is positioning itself through its short-term and long-term marketing strategies. The company is utilizing both PESTAL and SWOT analysis to increase its growth and sustain competitive advantage.
References
Ivan, S., & Kristina, M. (2019). A review of Corporate Social Responsibility assessment and reporting techniques in the aviation industry. Transportation research procedia 43, 93-103. Retrieved from
https://scholar.google.com/scholar?as_ylo=2019&q=airline+pestle+analysis&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p%3DYri6Gn5ys90J
Sahar, T. (2020). Evaluation of passenger satisfaction with service quality: A consecutive methods applied to the airline industry. Journal of Air Transport Management 83,101764.
Tran, Y. (2019). Challenges the airline industry faces at present. Retrieved from
https://scholar.google.com/scholar?as_ylo=2019&q=airline+pestle+analysis&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p%3DkrBjujVqKvgJ
Running Head: MARKETING PLAN
MARKETING PLAN
1
Part B: Your Marketing Plan
Eric Brown
MKT500
Strayer University
Dr. Lisa Amans
August 10, 2020
Question 1
The performance of the Great Airline Travelers Express Limited for the last two year has been incredible. The positive and encouraging feedback from the customers has enabled the company to make sure that there is smooth progress and function of the Great Airline Travelers Express Limited. The company is located in strategic location in the cities of United States. The company is aiming to have deeper knowledge based on customer’s feedback on how to best improve the services provide so as to achieve competitive advantage and ensure that the company increases revenue returns.
The customers commented positively on the reception and treatment offered to the by the company agents. Additionally, the customers are pleased with the comfort and safety travel offered by the company at a low cost compared to competitors. Finally, the customers are happy about the convenience of the Great Airline Travelers Express Limited strategic position and great customer service attendance. Great Airline Travelers Express Limited is planning to capitalize on the positive feedback to make the experience better and adjusting so to meet customer needs and attract more potential customers. The customers also wanted their entertainment systems to be personalized.
The company will utilize the feedback from the customer to measure their satisfaction and company performance. This will enable Great Airline Travelers Express Limited to increase its market share and build its brand name. Additionally, customer feedback will enable the company to improve customer retention by improving areas of concern that keep the customers happy and satisfied. The positive feedback by customers showed how they have enjoyed travel services provided by Great Airline Travelers Express Limited especially on social media which is the company’s marketing strategy (Ivan, & Kristina, 2019). This will enable the company to attract more customers and improve on the decision making and forecast on the bigger exposure and expansion of the business.
Question 2
Great Travelers Airline Marketing Plan is a private independent airline operating a fleet of aircrafts for economic and VIP class travelers. The fleets comprise of aircraft not more than 65 fleets. Ideally, the company is located in major cities across the entire United States. In addition, the company is specializing on providing ultra-low-cost carriers and niche services. The airline company plans to offer outstanding regional flights for both business, economic and VIP clients, with the best comfortable seats, personalized entertainment system and variety of beverages and food stuff for the customer convenience and comfort.
The focus of the Great Airline Travelers Express Limited is to offer excellent services and increasing the efficiency of the company through meeting the needs and expectations for the target market. Providing quality and excellent customer services and ensuring that the company is better placed to get referrals.
The reason why the name ‘Great Airline Travelers Express’ was careful chosen is because it is simple remember yet it denotes everything the company has to provide to its clients in a nutshell. It is paramount for the Great Airline Travelers Express Limited to identify strategies that are beneficial for the company in attaining its set goals and objectives and this entails identification of the target demographic. Business experience has many challenges due to dynamism of the air travel industry enabling it significant for the Great Airline Travelers Express Limited to keep up to date with the competitive market.
At Great Airline Travelers Express Limited, our slogan and firm’s motto is to be each customer “dream airline with cutting edge comfort, and fulfilling travel needs’’. This slogan attract all our targeted demographic because we capture the two company’s main services, along with the expectation of comfort travel that offer serene environment. This is further catalyzed by the low cost prices and having all the fleets ready to offer regional travel services after the brand has been established for two years.
Question 3
The primary and the secondary target market that Great Airline Travelers Express Limited focuses on are to have an insight and critical evaluation of customer demands relative to the location and demographic profile of each segmentation. What is the best attraction to the Great Airline Travelers Express Limited? What outstanding aspect is needed to maintain and officialize the brand against the competitors in the airline market? How best will it appeal to the target market? Among other considerations Great Airline Travelers Express Limited primary market is the business community and working professional (millennial).
The business community and the working millennial professional is an attractive franchise according to 2019 survey concerning posterity to travel that indicated that millennial group of up to 14 percent in United States are aged between 19-35 years, they have travelled more than five times during the last two years for personal reasons. Appeal to this market franchise is to offer the most comfortable fleets with the best personalized entertainment system among other travel necessities including exceptional customer service attendance. Additionally, another primary market is regional and local tourists who travel to various destinations; this is the best angle for the primary target market.
Great Airline Travelers Express Limited secondary market is the inter-city commuters that mandate the organization to make crucial decisions concerning the customer needs. Most of these families are millennial aged between 28-38 years. They are the most travelled inter- city age group in the united states for business and professional reasons. There is a lot of inter- city travels by various groups for varied reasons.
Great Airline Travelers Express Limited will seriously utilize this travel dynamism to establish its marketing brand. The company emphasis on its slogan is to attract and retain its potential customers. The capability for the company to meet needs, climate operations, and the competitors in the market is critical for both the short term and the long-term goals of the Great Airline Travelers Express Limited.
The most important short term goal of Great Airline Travelers Express Limited is to increase their customers and this will eventually translate to the growth in the market share. This can also be achieved by enhancing customers’ satisfaction levels; the company should focus on solving any queries that the customers might have while ensuring that they offer excellent customer care services. The long term goal of Great Airline Travelers Express Limited is to ensure that the company profits are continuously growing.
Increase in revenue of the Great Airline Travelers Express Limited can be increased by identification of customers’ patterns that always varies, and this make sure that there is growth in the competition in market. Creation of traffic in the airline website is also a long term goal that aids the firm to enhance its profitability. The medium used by the airline will determine the rise of the traffic. Social media marketing is the best medium because it is used by many people globally. The main focus is to make sure that the airline offers excellent services and satisfies customers’ needs.
Question 4
After almost two year of implementation, more market research is conducted. Positioning was done by Great Airline Travelers Express Limited to create an image in the mind of their customers and their target market. To position Great Airline Travelers Express Limited, perceptual mapping should be constructed first. Perceptual mapping illustrates how the customers view the airline products according to specific attributes linked to it. Any service or product the airline offers is considered an attribute that the customers relied on during their purchase choices.
Information about customer perception can be gathered through market research methods. The Great Airline Travelers Express Limited gathered their real data from various company’s official sites concerning their aircraft parameter. Some sites are not reliable because most regional airlines are under development. These parameters are used as the attributes that the customers rely on when making their choice. Examples of these attributes include price, comfort, entertainment, punctuality among others. Perceptual maps are used to pin point the gaps in the regional airlines market. Needs that are not meet or satisfied are favorable opportunities in the airline market.
After the results were projected on the perceptual map, there was an increase in profits in different areas of the Great Airline Travelers Express Limited departments which had not been performing well. However, the airline knew that they had more room for improvement. The increase in revenue is due to the economic growth. The current information showed that the airline was at a seventh that was an improvement from a sixth. The service provisions of the customers stood at a seventh which was also an improvement. The customers gave so many feedbacks about the pricing and the level of services they were offered.
Many customers saw the value of the airline services which include the best comfortable seats, personalized entertainment system and variety of beverages and food stuff for customer convenience and comfort. They were also impressed that their luggage was neither lost nor misplaced. The Great Airline Travelers Express Limited also kept time and this pleased and attracted more customers. The customers were also satisfied with the travel pricing because it was lower than those of its competitors, yet they offered better excellent services. The airline also offers modern aircrafts with comfortable seats and cabin space.
The marketing strategy applied was very successful; it enhanced customers’ engagements by 78%. The main focus on this success was social media platforms which include facebook, twitter, and instagram. The Great Airline Travelers Express Limited alienates itself from its competitors by offering low travel prices with exceptional services. Most regional airlines have tried to copy the Great Airline Travelers Express Limited strategy but they have failed to maintain their standards.
The perceptual map illustrated below shows the main objectives that the airline wants to achieve once the results of the research since the implementation of the strategy are established. This perceptual map demonstrates what percentage each social media platform needs to have so as to achieve their target goal.
Is better than
The positioning statement for Great Airline Travelers Express Limited is:-
Great Airline Travelers Express Limited
Is better than
Other regional carriers in the United States of America
For
Millennials and inter-city travelers looking for exceptional experience of comfort, fair prices, excellent services, proper time management and enjoyment
Because it
Provides outstanding regional fights for both business, economic and VIP clients, with the best comfortable seats, personalized entertainment system and variety of beverages and food stuff for the customer convenience and comfort
With the aim that
The customers arrive at their destinations happier, relaxed, and more refreshed and satisfied having experienced an exceptional form of transport of all the attention and privileges they deserve.
Question 5
The main visual components of Great Airline Travelers Express Limited brand identity is the logo. The airline logo appears on the company’s website, social media sites, business cards and stationery (Tran, 2019). The logo of Great Airline Travelers Express Limited is well designed thus contributes to the success of the company by attracting the target market. The airline logo coheres with other Great Airline Travelers Express Limited visual representation. This logo compliments the airline brand. The brand name of the airline builds on customer loyalty because it represents everything the company has to provide to its clients in a nutshell. It attracts potential customers because it shares values which build emotional connection with the Millennials and inter-city travelers.
The Great Airline Travelers Express Limited slogan is to be each customer “dream airline with cutting edge comfort, and fulfilling travel needs’’. This slogan attracts all the targeted demographic because it captures the two company’s main services, along with the expectation of comfort travel that offer serene environment. This is further enhanced by the low cost prices and having all the fleets ready to offer regional travel services after the brand has been established for two years.
The positioning statement alienates the Great Airline Travelers Express Limited from its top competitors. The main aim of the airline is to make the customers arrive at their destinations happier, relaxed, more refreshed and satisfied having experienced an exceptional form of transport of all the attention and privileges they deserve. This will automatically attract the Millennials who focus on the current trends in the travel industry.
Customers experience is the brand of Great Airline Travelers Express Limited because that is what the clients remember and share with others. Social media marketing has helped Great Airline Travelers Express Limited to enhance its brand awareness and provide customers satisfactions. Social media has helped the company to know the needs of Millennials and inter-city travelers.
References
Ivan, S., & Kristina, M. (2019). A review of Corporate Social Responsibility assessment and reporting techniques in the aviation industry. Transportation research procedia 43, 93-103. Retrieved from
https://scholar.google.com/scholar?as_ylo=2019&q=airline+pestle+analysis&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p%3DYri6Gn5ys90J
Sahar, T. (2020). Evaluation of passenger satisfaction with service quality: A consecutive methods applied to the airline industry. Journal of Air Transport Management 83,101764.
Tran, Y. (2019). Challenges the airline industry faces at present. Retrieved from
https://scholar.google.com/scholar?as_ylo=2019&q=airline+pestle+analysis&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p%3DkrBjujVqKvgJ
Social media marketing strategies goals
60 %
78 %
75 %
RunningHead: MARKETING PLAN
MARKETING PLAN
1
MKT500 Marketing Plan
Eric Brown
MKT500 Marketing Management
Strayer University
Dr. Lisa Amans
September 1, 2020
Question 1
Great Travelers Airline Marketing Plan is a private independent airline operating a fleet of aircrafts for economic and VIP class travelers. The fleets comprise of aircraft not more than 65 fleets. Ideally, the company is located in major cities across the entire United States. In addition, the company is specializing on providing ultra-low-cost carriers and niche services. The airline company plans to offer outstanding regional flights for both business, economic and VIP clients, with the best comfortable seats, personalized entertainment system and variety of beverages and food stuff for the customer convenience and comfort.
Based on the positive feedback received by the Great Airline Travelers Express Limited from the customers, the company has come to the realization that customer service is vital in sustaining competitive advantage. Additionally, the company has found out that social media is necessary tool in providing outstanding and impeccable customer services for every individual passenger. Great Airline Travelers Express Limited has come to understand that one unhappy and unsatisfied customer has the ability to warn or discourage potential customers from subscribing to the services of the company and this has negative impact on the returns of the company.
The feedback from the customers concerning the company’s services will be utilized in promoting excellent customer services so as to enhance, profitability, passenger retention and boost the overall Great Airline Travelers Express Limited growth. The customer feedback concerning comfort, safety, bookings and general services are good. The Great Airline Travelers Express Limited will use the feedback to ensure that all the company’s culture is customer-centric.
The company will seek to research, evaluate and keep high customer value so as to increase profits, attract more customers and maintain customer loyalty. Based on the customer’s feedback, the Great Airline Travelers Express Limited will use the customer’s feedback on services offered to improve communication and customer experience. The company will achieve its goals based on customer’s feedback through focusing on what the passengers want or need and develop services around those wants and needs. Similarly, the company will utilize customer’s feedback to carry out self-evaluation so as to find out what customers think about company’s services.
Finally, the Great Airline Travelers Express Limited will use the customer feedback to promote and encourage exchanging of customer’s information among the company’s departments. This is key in ensuring that all departments provide ultimate customer services and applying of customer’s feedback and suggestions in order to make change on customer services.
Question 2
A pricing strategy is a method used to establish the most appropriate price for a service or product. Pricing factors include manufacturing costs, competition, market place, market condition, and quality of the product. Appropriate pricing strategy is the key to success for Great Airline Express Limited. If Great Airline Express Limited sets low travel prices, the demand will be very high, but the profit margin will significantly reduce. Besides, if the company sets high travel prices, profit margins will significantly increase, but the demand will absolutely decrease. Great Airline Express Limited can choose different pricing strategies so as to enhance the growth of the company.
One of the pricing strategies that Great Airline Express Limited should adopt is demand-based pricing. During high demand times like festive seasons and holidays, Great Airline Express Limited should increase their travel prices and reduce the same tickets prices during off season. Demand-based pricing will increase the profit margin of the company significantly. It also offers the company flexibility to adjust their ticket prices depending on the nature of the season.
In addition, total customization strategy can be used by Great Airline Express Limited. The company should divide prices according to the classes which are economy, business, and first class. The regional airline should adjust the number of seats allocated to every fare class. This strategy is vital because it will provide Great Airline Express Limited unique selling advantage and creates higher price points. It will also enhance profitability due to the differentiation factor. Additionally, this pricing strategy will help the airline to know their customers better through loyalty programs, cookie tracking, and registered users because it will help them to provide personalized pricing.
Finally, Great Airline Express Limited can use competitive pricing strategy. Airline industry has increasingly become complex and fierce in competition over the past decades. Great Airline Express Limited should strive to continuously offer low-cost prices as compared to their competitors. The company should offer low cost travel tickets but maintain high quality customer care services, offer outstanding regional fights for both business, economic and VIP clients, with the best comfortable seats, personalized entertainment system and variety of beverages and food stuff for the customer convenience and comfort.
Distribution is the process in which a product or service is made available for consumers. The Great Airline Express Limited uses multi channel distribution strategy. The company can use mobile and social media platforms such as facebook, twitter, and instagram to distribute their products to their customers. This will enable consumers to book tickets directly from travel meta-search portals. The company can use instagram posts that promote premium products and motivate consumers to envision dream destinations. The Great Airline Express Limited can find the right touch between direct sales and social media channels because they are very important for airlines industry.
New social media technologies will enable Great Airline Express Limited to reach customers in real time during their research. They can also personalize the travel experience for instance; Great Airline Express Limited can use facebook profiles to personalize in-flight magazines placed on every seat to celebrate the 5th anniversary of its inter-city travels. The cover of the magazine should contain the passenger’s photo and name, basing on the seat assignments, and the content should be geared toward each person’s interests in life. The Great Airline Express Limited should advance their specific destination content and inspirational media in order to remain relevant in the search or inspirational part of the customer’s travel booking journey.
Furthermore, Great Airline Express Limited can use direct channel distribution strategy to reach their customers. The regional airline has several digital platforms at their disposal that can help enhance direct revenue channels, while avoiding the use of indirect channels. The Great Airline Express Limited can change their search paradigms available to customers from route-based searches to interest based, theme based, and map based search experiences. The airline can also improve their social media pages to engage consumers and attract those directed by search engine pages or meta-search pages to make the most from direct channel of distribution.
Question 3
Integrated marketing communication is a strategy to develop a unified and seamless experience for customers to interact with the brand. It is process that is created to ensure that all communication and messaging strategies are consistent across all channels and are customer centered. For Great Airline Express Limited to build long term brand relationships and deliver value, careful planning and integration of marketing mix elements into a unified market offering to satisfy customer’s needs is required.
The Great Airline Express Limited should not only have same indent, slogan, and brand colors splashed across all their marketing channels, but it will also include a coherent story through everything the airline does. The regional airline will plot all customers touch points across the consumer lifecycle so as to successfully integrate all the marketing channels used. The Great Airline Express Limited will integrate company website, public relations, facebook, instagram and twitter in their integrated marketing strategy. The company will review and re-evaluate their social media tools so as to increase efficiency, effectiveness and profit gain. Great Airline Express Limited will always update their website to reflect new software updates and the modern technology advancements.
The diagram below is an integrated communication plan of Great Airline Express Limited.
Message strategy
Great Airline Express Limited- the best way to fly in America at low-costs
Media strategy
Great Airline Express Limited has implemented the use of social media campaigns, brochures, and magazines. Social media strategy has helped Great Airline Express Limited to enter into the market and obtain competitive advantage. The company has also been able to attract and retain a large number of consumers.
Question 4
Public relation is a management function that will help Great Airline Express Limited establish and maintain communication with the public. The Great Airline Express Limited will involve their employees in their public relation strategies. Employees should interact well with the general public, colleagues, and customers. Excellent customer care services are also an effective public relations stunt. The Great Airline Express Limited should also implement the use of podcast to communicate with its employees and the clients, and the public.
Moreover, the airline should utilize their social media platforms like Facebook, Instagram, and twitter to talk about diversity, inclusion, and equity initiatives. Diversity, inclusion, and equity initiatives will enhance the public relations of the Great Airline Express Limited; hence attracting more customers and retaining the existing customers. Furthermore, the regional airline should offer free snacks and magazines during festive seasons and holiday to their clients. This will make the customers feel that they matter to the company and they are cared for.
Sales promotion is the process in which a potential customer is persuaded to purchase the product. The airline industry is currently very competitive so Great Airline Express Limited should work extra hard to keep their clients happy with their promotional offers and services. The Great Airline Express Limited can keep their clients happy by offering them free gifts and services. They should offer surprise upgrades and complimentary meals. They can also offer toys to the client’s children and wheelchairs for elderly people. Additionally, the Great Airline Express Limited can use joint promotions to enhance the growth of the company. They can team up with credit companies and hotel chains to offer special rewards and promotions.
Personal selling is a process by which a company’s sales representative meets with a potential customer for the purpose of transacting sales. The Great Airline Express Limited sales agent can use a personalized approach, designed to meet the customer individual needs and to inform them of the comfort of their aircrafts and low travel costs that the company offers. The sales agent should also give the potential client an opportunity to ask questions; the sales person should be able to answer the questions and concerns raised by the client. This will make the customer to be emotionally connected to Great Airline Express Limited because of the services offered and low costs of travel. The company gains the clients trust and receives information for their customer data system.
Question 5
Online marketing is the process in which a certain product or service is advertised to potential customers through digital strategies. The Great Airline Express Limited will continue to use the three social media platforms facebook, instagram, and twitter to market their products (Ida, 2020). Additionally, the company will utilize the company websites and podcasts to market their airline. Social media marketing is very effective because it is used by millions of people across the U.S. It is also cost effective and can steer a lot of traffic to the company’s website. Similarly, these social media platforms can share basic information about Great Airline Express Limited and raise brand awareness and promote positive word of mouth. Facebook will enhance Great Airline Express Limited profile by encouraging existing and potential customers to click the like button on the company’s facebook page.
Direct marketing is a form of communicating an offer, where a company communicate directly to preselected clients and supply a method for direct response. The Great Airline Express Limited can utilize Email marketing, email marketing entails sending commercial messages to a group of people using email. Email marketing is cheap and reaches an already engaged audience. Email marketing can also be measured easily. In addition, leaflet marketing can be used. Leaflets or flyers can be distributed through letterbox drops and handouts. This marketing method is cheap, simple, and a very effective way of reaching customers.
Question 6
Social responsibility marketing is a marketing philosophy that a company should take into consideration. The Great Airline Express Limited should embrace diversity, equity, and inclusion. The company should employ workers from different background, gender and races in order to advance their brand. Furthermore, the Great Airline Express Limited should conserve environment by optimizing flight routes (Ivan & Kristina, 2019). This will help the company to reduce the charges paid for pollution certificates. Besides, the Great Airline Express Limited should adhere to regulations pertaining carbon offsetting and reduction that gives airlines restrictions on carbon emission. The company should also purchase lighter fleet which is more efficient and use new air traffic control to save emissions.
References
Ida, A. I. P. (2020). The effectiveness of Online Marketing Trends: B2B and B2C Application. Jurnal IImiah Manajem dan Bisnis 5 (1), 90-98.
Ivan, S., & Kristina, M. (2019). A review of Corporate Social Responsibility assessment and reporting techniques in the aviation industry. Transportation research procedia 43, 93-103. Retrieved from
https://scholar.google.com/scholar?as_ylo=2019&q=airline+pestle+analysis&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p%3DYri6Gn5ys90J
Tracy, L. T., & Michael, R. S. (2017). Social media marketing. Sage.
Integrated Marketing
Communications
Public relations
Website