Classic Airlines and Marketing - Essay Example

ic Airlines and Marketing Financial success of any organization is dependent on marketing as it will ensure that the company acquires and retains its customers who determine the profits of the organization. Marketing will entail ensuring that customers’ needs are met and still ensure that the company makes profits (Keller & Kotler, 2007). In today’s competitive market it is the duty of the marketing department of companies to ensure that they maximize growth and profits, and this is achieved by strategic marketing.

The commercial airline industry changes rapidly and classic airline is faced with the challenge of ensuring that they deliver quality services and at low costs so as to ensure they retain and acquire new customers (Lane & Kotler, 2006). In order for classic airlines to succeed in the market, it must foster forecasting of the market potential and demand for its products and establish long term marketing objectives. Classic airline aim is to marketing its fleet but is faced by organizational issues whereby its internal and external marketing strategies have not been able to live up to the expectations of its stakeholders.

Due this, competition has undermined its profitability as customers are looking for other airlines that can satisfy their needs of lower travelling costs. This has had the effect of decreasing the lucrativeness of the company. Classic airlines needs to develop a marketing plan that will ensure that it attracts, retains customers and also boost its sales. A good marketing plan will lay down the strategies to be followed to ensure a company retains, attracts customers and also increases profitability.

Issue and Opportunity IdentificationClassic airline has numerous challenges facing it due to the rising costs of operation and lack of innovation in the company that make it not to be able to meet consumer needs. The company is facing challenges that include decrease in its stock prices, its employee morale is low , and its loyal customers have been seeking services from other airlines. The airline needs to ensure it does environmental scanning as it will help in understanding the needs of its customers and this will further help in knowing how best to meet their needs by ascertaining that the services they offer are in line with the needs of those in need of the services (Lane & Kotler, 2006).

Marketing ManagementMarketing management is required in Classic Airline as it will ensure that proper marketing strategies are put in place to ensure customers are acquired and retained. Classic Airlines should ascertain that they use marketing strategies to maximize profits and growth for the company. The competition the company faces should be dealt with by ensuring that a market forecast is done, which will help in determining the demand for the company’s products and this will help in laying down a plan that will ascertain customer satisfaction hence profits (Keller & Kotler, 2007).

Taking care of the needs of all the stakeholders is necessary and the company must first ensure that employee development is upheld then direct its marketing strategies to the consumers, and this will ensure success of the organization (Keller & Kotler, 2007). The airline should ensure that it uses the four P’s framework in its marketing mix, and this will enable it target its potential markets. Customer relationship initiatives should be prioritized in the airline , and this can be done through offering competitive prices, improving the quality of services, ensure more promotion of products and improve their customer relations model; hence this will improve the company’s brand and profitability.

Case Study. (2009). Classic Airlines Scenario. Keller, K., & Kotler, P. (2007). A Framework for Marketing Management. New York: Prentice Hall.Lane, K., & Kotler, P. (2006). Marketing Management. New York: Prentice-Hall.Plunkett, J. W. (2006). Plunketts Outsourcing and Offshoring Industry Almanac 2009 (E-Book . California: Plunkett Research.