Airline Marketing Service by Domestic and Foreign Firms - Research Paper Example

Journal review Student’s name: Student Number: Lecturer’s name: Date: The background The journal articles explain on how to make a marketing that will help companies penetrate the market. The market plan will help even the new companies to have a share in a competitive market. The journals give the steps to follow while making a good marketing in every industry (Stewart 2006). The journals also give different definitions of the term marketing plan. The journals have given examples from the airline industry and have scenarios of new entrants in the market. The major objective of this review is to come with ways of making a marketing plan that is all inclusive and can work in any industry. The scope of these journals is provision of high quality services in the airlines industry. The journals try to explain on how a new airline service provider can enter the market and compete with the big companies in the industry. A marketing plan is the guideline to all the activities that a company uses to penetrate the industry market in order to sell its products and have a share in the market (Akosy 2003). To start with when formulating a marketing plan solid industry and market analysis is vital. Marketing plan works with coordination with the business plan because it is not independent they are related (Driver 1999). The scope and objectives The main objective of this review is to identify how a new competitor can have a share in the market, the methods to use to penetrate the market, identify the current gaps in airlines industry. The goals of this review are to see how the current gaps in the industry can be breached, establish a direct link between the companies and the customers, market penetration as a new player in the market (Driver 1999). Another goal is to derive customer satisfaction from the services offered by the airline companies. These objectives can be achieved through the use of the market mix, which is also known as the 4 P’s of marketing. The marketing mix as in the journals has been explained to be in line with the airlines services. Methodology The journals have used statistics and research in the current players in the industry so as to establish the existing gaps in the airlines industry (Akosy 2003). The journals used questionnaires to gather information from the management of the airline companies who were chosen in a random way. This information is statistically analyzed and presented in graphs and pie chart to make it easy to understand. In the travel industry, the current players such as Air America, Fly emirates, Air Dubai does not satisfy customer needs because the market is too big for them to exhaust. Therefore, world travel services will take advantage of these weaknesses to satisfy customer needs and penetrate the market. Also, the current major players in the industry are poorly distributed only in the major cities again this is a major weakness which world travel services will capitalize on, by providing its services everywhere in the world (Stewart 2006). Also, the ability to get access to the world travel service through the internet and social networks this will increase the company’s clientele base. Findings The key findings of then research by the journal articles can be as follows. This information is from all the journal articles but not from any particular journal. After the market and industry analysis, it is important to determine the market segment, this is determined by size of the population, customer needs, Geographic’s, buying patterns among others (Driver 1999). Given that the size of the population is increasing the current players does not cater for all the customers in need of services, therefore, any new player in the market should take advantage of this growing population. The journal articles have identified customer needs and have explained on how to work towards satisfying the customer needs by giving them what they want and deserve. Another market segment is buying patterns the customers tend to buy from new players in the market who have unique and best services, therefore; the uniqueness should of the factors considered while drawing a working marketing plan. This will help even the existing companies to continue enjoying market share they possess. Another strategy explained in the journal is providing services to customers when they need them in the most convenient way (Johnson 2012). A key to a working marketing plan is to determine a target group a company is aiming to serve. The main target market of the airlines company is the business community, tourists’ community and the diplomats. This groups use the services of the airline companies regularly and this makes them the best target market for an airline company. The journals have given an example of how a company can have a unique service as compared to other companies. The most notable example is how a company has pre-arranged tours and hotel bookings for their customers who are tourists. This method will help reduce delays in this area and help the company win increased customers. To develop a marketing plan, all the marketing trends related to social, economical, technological, competitive and regulatory forces related to the product should be identified (Driver 1999). In this industry, marketing trends related to the forces are; to the social forces are linking with business associates and co-workers this through the company’s different services. The economical forces are the prices of the company’s services which are relatively low compared to other companies in the industry, large flow of revenue. The technological forces are up-grade membership packages, Hotel and advertising packages for domestic airline, private travel industry and outsourced advertising packages, sales or aviation broker of accounting software and subscription benefits for hotel chains. Competitive forces are that the company is providing services different from other companies’ at a cheaper price. Regulatory forces are located in eco green environment (Dekimpe 2012). The above force comes as an opportunity for any company that is willing to penetrate and maintain market share in the airlines industry. A market mix as defined in the journal articles is a strategy that companies in a given industry should follow to win and maintain customers. The strategy should ensure that the company does not run into profits and should ensure that the company is within the range of its competitors. Market mix that an airline company can utilize to penetrate the market is as follows; positioning an airline company should be able to provide unique services and reach a large population that does not receive services that are in line with what they pay. This means that the customers are not satisfied by the services they are given (Johnson 2012). Pricing, any company with an aim of beating the competitors in the market should use price as a way to attract increased customers. Therefore, such a company will offer low prices than those offered by competitors for the same services. The company could also give multiple services for a moderate charge, which will help them attract more customers. The prices should not be static and should be reviewed so as to avoid losses to the company. Promotional strategy, the journal articles have explained how the companies should promote themselves among the customers so as to win favor among the customers. The methods that a company should use to beat its fellow competitors in the market are to advertise its products online and through other written media. Provision of free information to customers, this will attract new customers (Dekimpe 2012). Distribution strategy, to work on this a company should have a unique way of reaching their customers wherever they are. Such a company distributes its services allover even to the areas which have been isolated by other players in the market. Such a move will help beat the competitors by winning their customers, as they say in business there are no permanent customers. Conclusion In conclusion, the journal articles have clearly explained on how the existing and the new companies can have a marketing plan that will help them penetrate the market. The journal articles have given the necessities in winning and maintaining new customers. The companies should follow their marketing plans to the letter and review it only when it is necessary and called for the changing marketing trends. The companies should have a unique way of marketing themselves among the customers, but should not rely on the plans of the other players in the market. The companies should work to introduce new services that will help them attract customers from their competitors. The company should use the market mix to determine the factors it should use to market itself among the customers in the target market. The market mix should also be used tom out compete other companies by using tools such as price. The greatest competing tools in this industry are to ensure that the customers are satisfied by the services offered by the company. Therefore, any company with the aim of winning market share should invest in research and development to ensure that it capitalizes on the weaknesses of its competitors. References: Aksoy, S. (2003) “Airline marketing service by domestic and foreign firms: Differences from the customers viewpoints”, Journal of air transport management, vol. 9, pp 343-351. Dekimpe, M. (2012) “Official journal of European marketing research”, International journal of research in marketing. Driver, J. (1999) “Development in airline Marketing practice: applied marketing science”, Journal of marketing practice, vol. 5(5), pp 134- 150. Johnson, L. (2012) “Official journal of Australian and New Zealand marketing academy”, the Australian marketing journal. Stewart, H. (2006) “The leading quarterly journal for Airport management, airlines, ground handling companies, advisers and researchers, Journal of airport management Read More