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Market Audit for British Airways - Assignment Example

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Expanding the routes into more European cities following the reduction of trade barriers by the European Union…
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Market Audit for British Airways
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Market Audit for British Airways     and Marketing Audit for British Airways PESTLE Political
Economical
Political stability in Britain has consolidated the performance of the airline.
Political instabilities in countries like Syria has affected the operations of the airlines due to heavy terror activities and airspace restrictions.
The fluctuating prices of fuel have affected the air ticket prices upwards.
The international exchange rate has affected the revenue negatively following the contagion effect form the crumbling of the Greek economy.
Social
Technological
Globalization has increased the number of travels.
Global tourism has boosted the number of travelers using BA.
Online booking has boosted the client base for the airline.
Advancement in technology has stretched the advertisement platform for the airline.
Legal
Environmental
Libel law suits against Virgin Atlantic
Strict taxation laws in international destinations in Africa and Asia.
Adverse weather conditions especially during the winter affecting the smaller local flights.
Strict pollution laws against the airline industry regarding air and noise pollution.
Porters Five Forces of Competitive Position
Ansoff’s Matrix
EXISTING MARKET
NEW MARKET
Market Penetration
Market Development
Existing Product
Expanding the routes into more European cities following the reduction of trade barriers by the European Union.
Intensify the advertisement policy in the regions of operations.
Forming more partnerships with other airlines to consolidate the market position.
Develop a rewarding scheme to enhance customer retention and farther development of the market
Product Development
Diversification
New Product
New in-flight entertainment systems in the larger Boeing planes (Archer & Syratt, 2012).
Development of spacious sleeping cabins in the Boeing planes.
Introducing new business services to recover clients from Virgin Atlantic.
Introducing new travel services to match the new global trends.
SMART marketing Objectives for British Airways
Following the market audit presented above, the following three SMART marketing objectives will be ideal for British Airlines;
Profitability Objective: The Company can achieve a 35% return on investments by May 2017.
Market Share Objectives: To secure 65% of the market share in the European Union by May 2020.
Promotional Objectives: To increase the awareness on the use of energy conservations measures in air travel from the currents 25% awareness to 65% by May 2016.
Reference List
Archer, J. & Syratt, G., 2012. Manual of Travel Agency Practice. 2nd ed. Hoboken: Taylor and Francis. Read More
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