Classic Airlines and Marketing
Classic Airlines and Marketing
The world known fifth largest Airlines is Classic Airlines. Classic Airlines owns over 375 jets, which serves 240 cities with over 2300 daily flights. Classic Airlines has been in existence for over 25 years. Classic Airlines employs over 32,000, profited $10 million on $8.7 billion sales. Classic Airlines is one of the most competitive airlines in the industry. With the uncertainty about flying, though profitable, Classic stock prices have been affected and their shares have decreased 10% in the past year. (Cited: UOP, 2010)
No matter what business function is being performed, sufficient demand for the good and service is needed to make the company profitable. Marketing has to do with identifying the needs of consumers. Due to heightened competition, Classic Airlines will need to come up with a marketing strategy. Heightened competition can cause increasing advertising cost, and shrinking profit margins. Companies who would be consider competition would be Southwest Airlines, and Delta Airlines.
Classic Airlines faces the challenge of meeting their deadline in time to save revenue for the company through a strong marketing strategy and how to remain competitive in this industry. They have to consider the self value for a satisfied customer. Customer satisfaction is an important factor of any marketing concept. Marketing concept allows companies to concentrate on resources to help increase sales and accomplish a sustainable competitive edge. (Biznik, 2010) Sometimes a marketing concept can be limited on the greatest opportunities. (Biznik, 2010) The marketing concept is most effective when used as an essential factor of a company??™s strategy. The Strategy needs to define organizations engagement with consumers, prospects, and who the competition is in the area. Marketing concept and marketing strategy have to work hand ??“ in ??“ hand to be successful. Marketing Strategy is the groundwork of marketing plans or marketing concepts. A marketing plan contains a set of specific actions required to successfully implement a specific marketing strategy. The integration of marketing goals, policies, and tactics of a company, is considered a good marketing strategy. (Kotler, 2006) The objective of a marketing strategy is to provide a foundation from which a tactical plan is developed. (Kotler, 2006) Since Classic Airlines has a concern of flying from the consumers, as strong plan is needed with accuracy. Classic marketing team has to ask themselves after research, are they the dominance of their market And if so, are they the leader, challenger, follower or Nicher. Classic Airlines largest concern will be their marketing strategy that needs to overcome their situation. Question will be asked:
??? Will they receive a return on their investment for increased revenue
??? Did they make the right decision
??? Will this marketing plan keep their company competitive in their industry
??? Will this take them to a higher level above their competitors
??? Will this decision avoid cut backs or possible lay-offs
??? Will this decision keep the doors open from possible bankruptcy (Google, 2010)
Whether written as a mission statement, spoken or merely understood, corporate culture describes and governs the ways a companys owners and employees think, feel and act. (Entrepreneur, 2010)
In conclusion, Classic Airlines goals will be met with maximizing their shareholders wealth with profitability for increase competitive edge in a rapid changing industry. In order to do so, Classic Airlines will need to have a good marketing strategy. Financial success often depends on a company??™s marketing ability.
UOP, (2010) Classic Airlines Scenario. Retrieved April 20, 2010. From UOP Eresousce Page.
Google. (2010) Marketing Strategies. Retrieved April 20, 2010. From www.google.com
Kotler & Keller. (2006) Marketing Management. (12th Ed.) New Jersey: Pearson-Prentice Hall. Chapter 1.
Entrepreneur. (2010) Corporate Culture. Retrieved April 25, 2010.
Biznik. (2010) Marketing Stratgey Basics. Retrieved April 21, 2010.