Corn Air Marketing Strategy - Essay Example

Corn Air Marketing Strategy Summary of the budget marketing The significance of a marketing objective is to increase sales and improve productivity, and lack of an effective plan is the beginning of failure to many companies. Consequently, many firms face insufficient funds to carry out marketing strategy and hence the emergence of budget marketing. It is a marketing plan presented in the form of costs. The marketing manager conducts research in the industry, uses his/her experience and monitor what the competitors uses to provide realistic computation and make an informed decision on the budget (Kitchen & Burgmann, 2010). Failure to conduct successful budget marketing reduces the consumer awareness since it is done through the media and as such was the failure in the Cornairline. The primary target for the company is the average income earner, young adults and upcoming entrepreneurs. Another target for the airline is the rich who typically prefers a particular class with the carbines and as such their needs are catered for to increase the market share. The report, therefore, provides a comparison of two forms of marketing strategy analysis through literature review to find the right mix for the company. Literature Review There is no doubt that marketing is an effective determinant of a business success in an industry, especially where there is high competition. Customers chose a particular product based on the information available and to which persuades them towards that product. Indeed, the information in the market is provided through the use of marketing. Marketing hence attracts consumers in many ways. Through marketing, the company creates image and branding that distinguishes them from the competitors, and as Shimp (2010) noted, differentiation is essentials especially to an industry where goods are similar. Accordingly, the public is aware of the existence of the commodity and the associated owner. Furthermore, establishing an effective marketing is a sense of pride to the employees while increasing stakeholder satisfaction. As a result, the employees are motivated leading to better service to the customers, particularly to the airline industry. Companies should so spend effectively if they are to enjoy the benefits of marketing. The emergent of technology has seen many businesses implement various ways of strategy in marketing to promote their products. Most of the advertisements were conducted through TVs, radios, newspapers, journals to provide for public awareness and indeed, it did serve them well since the last decade there was no prevalence of technology as it is today. With the increased information technology, companies have combined the traditional ways and modern ways to spur their economic growth (Kalpaklioglu & Toros, 2011). For instance, JetBlue has successfully introduced the use of social networking such as Twitter for their advertisements and indeed it served them better by attracting the young adults to the airline who arguably are the users of the social networking. The use of the provision of the service awareness created through public advertisements as those employed in Facebook makes customer have user experience of the airline as they share information with the friends and relatives enhancing the sales of the company Shaw & Stephen (2011). In short, combining the previous means and modern ways of advertisements enable the company to have a wide market base. It is because the same media used for young adults cannot be used to persuade the senior citizens. Persuasion is as well significance in advertising in the airline industry to the consumers. Marketers must produce advertisements that stick in the mind of the consumers to be memorable and as Shimp (2010) observed, consumers are dynamic and you never really know what attracts them to the product. For instance, musical advertisement appeals to the consumers and provides for that traveling experience and as a matter of fact persuades the customer to use the airline. Finding the right market with the limited funding though is not a walk in the park. There are arrays of marketing forms used to gain the competitive advantage through advertisements. Public relations, promotional, direct, online, social media marketing, and the list is endless can be successfully applied to Corn airline to improve productivity. Owing to the dynamics of the airline industry, the best option would be either to use promotional or public relations marketing. Presentation and Comparison The two marketing strategies seem similar but are far apart just like the sunlight and moonlight; Promotional marketing is a strategy that stimulates customers towards the purchase of the product. Evans, Stonehouse & Campbell, (2012) believed that it is like providing the customers with a small taste to inspire large purchases. An airline industry is like a service industry where firms compete to provide the best experience even though at the end, customers are offered similar products. Public relations subsequently, are where a company works with the media to create awareness for the customers. The marketers develop news in collaboration with the media personnel as auditors to convey the message through the newspapers, journals, televisions and other public media available. The editors work to a captivating story that attracts the audience to the airline. As a marketer, you provide innovative ideas and events obtained through research. This helps the media to focus on facts and prioritize relevant data that drive customers towards the airline. Both promotional and public relations marketing have comparisons and contrasts between them. The strategies either way must incur general costs such as office space, commissions to the marketing agencies, and salaries to the marketing team, traveling and communication costs that in most cases are indirect to the company (Dozier, Grunig & Grunig, 2013). Nonetheless, public relations focus on creating positive publicity to the consumers as opposed to promotional activities that concentrate on pricing. As from the literature, it is clear that price is relatively less influence in the airline industry considering the market is imperfect and as such prices are determined by demand and supply. Public relations, therefore, helps create a better relationship between the customers and the company making it an easier option to convincing customer to choose the airline. Public relations are relatively less expensive than promotional marketing. With promotional, the company would have to pay almost the entire media systems within the business that at times are not attractive to the consumers. The ads are hence repeated that at times becomes boredom to the customers. It is easy therefore for the customers to be swayed away by the use of service especially in the airline industry where the market is volatile. Public relations, on the other hand, make the company incur the general cost and other expenses like editing to the publishers that making the strategy affordable to most organizations. Public relations is as well attractive to the consumer than promotional hence an impact of increasing the market share of the company in the industry. Conclusion and recommendation The literature and presentation above clear that public relations provide the driving force in the airline industry. Promotional marketing reduces prices to the consumers and from the law of supply and demand; low prices are expected to increase the demand. But since the industry is perhaps a market that has less response to prices, the operations in the industry are not impacted to a larger extent. Public relations, on the other hand, provide awareness of the relevant information that customers wish about an airline company. Knowledge, persuasion of those firms that meets customer expectations would attract consumers and increase their competitive in the industry. As a result, without any fear of contradiction, I would recommend the use of public relations as the best marketing strategy that corn air should apply if they are to be competitive in the industry and gain a substantial of the shares in the market. References Dozier, D. M., Grunig, L. A., & Grunig, J. E. (2013). Manager's guide to excellence in public relations and communication management. Routledge. Evans, N., Stonehouse, G., & Campbell, D. (2012). Strategic management for travel and tourism. Taylor & Francis. Kitchen, P. J., & Burgmann, I. (2010). Integrated marketing communication. John Wiley & Sons, Ltd. Kalpaklioglu, N. U., & Toros, N. (2011). Viral marketing techniques within online social network. Journal of Yasar University, 24(6), 4112-4129. Shimp, T. A. (2010). Integrated Marketing Communication in Adver-tising and Promotion 8e. International Edition. Printed in China. Shaw, Stephen. Airline marketing and management. Ashgate Publishing, Ltd., 2011. Read More