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Research Question: How Can RyanAir maintain its dominance in the European low-cost airline market European low-cost airline ma - Literature review Example

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How Can RyanAir maintain its dominance in the European low-cost airline market? European low-cost airline market Table of Contents 1.Introduction 3 2.Brief Overview of RyanAir 4 3.The Market of Low Cost Airline in Europe 5 4.The Market Trends and Current Strategies of RyanAir 7 4.1.Ansoff Matrix 7 4.2.Generic Strategy 8 5.Sustainable Competitive Strategies for RyanAir 9 5.1.Marketing Mix 9 5.1.1.Product 9 5.1.2.Price 9 5.1.3.Promotion 10 5.1.4.Place 11 5.1.5.People 11 5.1.6.Process 11 5.1.7.Physical Evidence 12 5.2.GAP Model 12 5.3.Red Ocean Strategy 14 6.Conclusion and Recommendation 15 Reference 17 1…
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Research Question: How Can RyanAir maintain its dominance in the European low-cost airline market European low-cost airline ma
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Download file to see previous pages There are a number of reasons that has led to intensify the competition hurting the profitability of the industry. One of the prime factors in this respect is the globalization of international trade and business that has brought several opportunities to the business world along with intensified competition and technological advancement. The technological advancement has been playing a crucial role in shaping the port-modern business world and related activities. The industry players are using the multiple innovative ideas, strategies to ensure an upper hand position in the market over their key rivals. Therefore, due to changing pattern of competition in the international market has also urged to change multiple aspects of an organization and business activities (Root and Visudtibhan, 1992, p.81). This paper will attempt to frame sustainable strategy for the RyanAir, a leading low cost provider air line company of Europe through discussion and analysis. The nature of competition in European airline industry been changes as most of the leading airline service providers are competition with other on the basis of low cost services. However, the fact is that RyanAir already exists as market leader in European low cost airline industry. On the other hand, other major competitors are also aiming increase their market share by offering low cost airline services like RyanAir. In such situation, it becomes more challenging for RyanAir to maintain its dominance in European low cost airline industry. 2. Brief Overview of RyanAir RyanAir is one of the most popular airline companies in the European market. RyanAir was founded by the Ryan family during 1985 with small amount of capital of ?1 million recruiting nearly 25 cabin crew. By end of 1985, it experienced a rapid success by serving more than 5000 passengers with 51 staffs. RyanAir realized the major barrier of passenger in availing airline service i.e. high cost, and it decided to serve a higher number of customer by offering lowest cost services. The low cost strategy became a huge success for RyanAir and the number of its passengers increased shockingly within a span of 20 years since its inception. The following figure presents the growth of RyanAir passengers from 1995 to 2007. Figure 1: RyanAir Passenger Growth in Millions (Source: RyanAir-a, n.d.) The primary reason for its rapid success can be interpreted due to three major factors i.e. lowest possible cost of airline service, vast area of coverage and its punctuality of its services. RyanAir ranks top among major airline service providers in terms of punctuality and low cost. The following table shows a comparison of the punctuality with its key rivals. Table 1: Punctuality Rating for Dublin to London Airline Service (Source: RyanAir-a, n.d.) With increasing market share, its financial position keeps strengthening and it has increased its number of fleet to meet its growing market demand. Currently, RyanAir owns nearly 272 Boeing 737-800 aircraft with capacity of 189 passengers each (RyanAir-b, n.d.). 3. The Market of ...Download file to see next pagesRead More
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