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The strategy of Cathay Pacific (Customer Loyalty) BA (Hons) in Business Administration - Essay Example

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With the invention of airplane, the entire economic situation of the world got a new dimension. It gave power to the people to travel and conduct business with a new flair. Now…
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The strategy of Cathay Pacific (Customer Loyalty) BA (Hons) in Business Administration
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The strategy of Cathay Pacific (Customer Loyalty) BA (Hons) in Business Administration

Download file to see previous pages... In order to sustain in the competitive global market, the airline services significantly needed to acquire great proportion of loyalty and satisfaction from the customer. However, this high competition has proved to be an advantage for the travelers as they get chance to travel for low cost.
With every airline service offering better product quality, lower price and promotional offers, the competition became even tougher. Since there is numerous number of airlines in the international routes, it gets harder to reap on profits .It is a saddening fact that the event of September 11 attack has impacted the airline industry in a very destructive way. It not only decreased the passenger traffic but also hiked up the airfares to make things worse. Eventually, the global recession made the airline industry struggle to subsist in the market and maintain their profit ratio. Subsequently, the only way to boost the sales was to gain customer confidence and loyalty.
In order to gain customer’s satisfaction and loyalty, the airline industry initiated to make use of the marketing mix and its 7Ps.Since only a right marketing strategy can increase the customer’s loyalty and satisfaction; the airline services rested their trust on the 7 ps of marketing mix model. The 7 elements of marketing mix like product, process, price, place, physical evidence, people and promotion was sure the best concept for them. For this reason, the airline companies started to come up with promotions, advertising campaigns, frequent flyer programs and many online services to melt the mind and hearts of customers. They assured the customer that they would not regret for choosing their service as they are the best in the market in respect of price and comfort.
Many airline services experienced that the customers definitely responded well to their marketing strategies and this enabled them to at least cover up their operating ...Download file to see next pagesRead More
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