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Market Solution - Essay Example

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Market Solution Name University Market Solution Identification of the problem Classic Airlines is one of the most successful airlines operating today and happens to be the fifth best airlines operating around the globe. The success of the company can be measured through the fleet of 375 aircrafts that are operational in more than 240 regions at a daily average of more than 2300 flights…
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Market Solution

Download file to see previous pages... Recently, the organization experienced a drop in the share prices by 10%. The organization is said to be suffering from low employee satisfaction as reported by popular media such as the Wall Street. The organization has even started experiencing a decrease in customer loyalty as the organization has seen a decline in the enrollment of the customers in the Reward program of the organization. The airlines witnessed a 20% decline in the customers enrolling in the reward program and they have started shifting towards the competitors of the airlines. The airline is even suffering from the issue of an increase in the operating costs due to increased labor and fuel cost. The organization can alter its problematic situation and can earn higher profits. Its problems can help it grow and attain success; they need to carefully handle the entire problematic situation. While dealing with the issue of decline in customers, the airline needs to distinguish between its essential customers and everyday customers. They need to provide more personalized services to certain customers which will help the airlines to gain attention in the market. The customers will further help the airline in increasing their customer base. Satisfied customers will pass on satisfactory messages to other consumers which will result in an increase in the customers for the airline and will further help in decreasing the overall marketing costs. One of the major changes that the airline needs to make is to change its current reward program. They can enhance their reward program by creating a program or changing their current program after analyzing the programs that are created by their competitors. Altering the current reward program of the airlines will enhance customer satisfaction and consumers will start giving preference to the airline’s reward program. The airline even needs to focus on how to decrease their operational costs. One such method is the introduction of winglet which will result in decreased consumption of fuels by the aircrafts. Several problems related to the airline have been identified by the different stakeholders of the company. Stakeholder issues need to be considered while solving the issues of the company because these stakeholders lead to the success and failure of the organization. The stockholders of the organization are of the opinion that the share prices of the organization have declined very sharply and this is hampering their investments. They believe that the share prices of the organization can be increased if the organization starts satisfying customers and customer loyalty is one of the essential things that need to be created in the market for the success of the company. The management is of the idea that the organization is not completely fulfilling the needs of the consumers and once these needs are fulfilled, consumers will start becoming loyal to the organization. Employees of the organization are mainly concerned about the negative reviews of the organization in the popular media. The employee union of the organization is concerned about job losses, decrease in salaries of the workers, dissatisfied workforce and they want to ensure that workers are compensated equally according to their hard work and performance. Similarly, the government and the officials ...Download file to see next pagesRead More
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