Airline industry, the business of transforming paying passengers and freight by air along regularly scheduled routes, typically by airplanes but also by helicopter. In the present days, airline industry in on higher growth because customers and people are like to travel with air because they wanted to reach on time and keep saving time in case of travelling from one place to another place. Marketing is the very important and effective part of the company which is help to promote products and services at market place by using different marketing channels. This help to achieve goals and objective of company by giving updates to customers in effective manner. In respect to airline industry, marketing plays an important role for giving updates to customers about their discounts and other facilities. The good marketing strategy is help to build great and best customer engagement. This creates and gives good and positive image and impact on customer mind. The present report will be based on the British Airways Company which is providing best and effective services to their customers.
The report will explain the key marketing concept for company. This identifies marketing strategies and program which had helped company for achieve goals and objective of company. this will also explain the marketing concept and principle in daily organization operations like 7 Pâs, STP etc. the report will produce poster to explain interrelationship between marketing functions to other functional units. At the end of report will highlighted the recommendations for improve their effectiveness of company.
Explaining key marketing concepts and terminology application
Marketing concept is the strategy which is used by company for implement to satisfy needs and wants of customer in effective manner. This creates more effectiveness for company in order to increase their sales and maximize profit to beat higher competition. There are 5 marketing concepts which are adopted by companies and execute in their company. Marketing is the wonderful management which tries to design various strategies those will highly help to build and make effective and profitable relationship with targeted customers (Ferrell and Speh, 2017). In respect of British airways, marketing concepts are help to build branding and best services image at market place. The application of marketing concepts in British airways is as follows:
The main purpose of production concept is to customers will favour products which are available and highly affordable. This concept in one of the oldest marketing management orientation which guide to sellers in respective manner. This is adopted by companies to run a major risk to focus too narrowly on their operations and losing sight of their real objectives. This is very important and effective aspects which reflect the best marketing concept for company most of the time by improving production and distribution strategy of company in effective manner. In respect of British airways, production will be done with increase capacity of fuel tank is help increase life of air travel. This help to produce best innovative services for their airline.
Product is the another concept of marketing which is hold that customers will favour products that offer the most in quality of performance and innovative features. In this marketing strategy will focus on making continuous product improvements (Key and Czaplewski, 2017). In context of British airways, marketing department try to produce best quality and improvement in their existing products. This help to target customers in respective manner. This is very important and effective part of company and marketing strategies. In this company is planning about their products by managing proper and effective product services.
Selling is the concept which reflects to work hard by making proper and effective work force. This is highly profitability concept of marketing. In this most of companies are make focus on building channels for marketing to promote products and services to customers. In respect of British airways, management is make proper and effective focus on creating sales transactions rather than ion building long term and highly profitable customerâs relationship. This creates more effectiveness for company. The selling concept is linked up with British airways; in that company is provide discounts on limited seats which are the offers. Through that more customers are attracted and able to make higher focus on product of British airways.
Marketing is another important concept which is help to achieve organizational goals which are depends on needs and wants of customers. This concept refers always took and look customers first and this concept is customers cantered. In respect of British airways, management have developed customerâs oriented marketing concept in order to satisfy needs and wants of customers in right manner (5 Marketing Concepts Explained with Examples, 2017). As per the case study, in that company changed various environmental conditions from a sellerâs market one of a buyer market. In this company need to build fundamental on prevailing relationship between the airline and macro environment in effective manner.
Societal marketing concept:
Societal marketing concept is another marketing concept which is reflects higher profitability of airline in respected market and in targeted customers. It is the pure marketing concepts which are overlook possible conflicts between customers for short run wanted and consumerâs long run welfare. This creates higher profitability advantage for company. In context of British airways, societal marketing concept delivers values to customers in ways which maintain or improve both consumers and society well-being. In this company is upload product and services on social media and enhance ability of future generations to meet their needs and wants of customers in respective manner.
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Identify marketing strategy and program
The marketing strategies are highly effective and valuable growth for company which is reflect that the higher growth of company by building best marketing strategy. Those build marketing strategy are helped to achieve goals and objectives of company in respective and effective manner (Kingsnorth, 2019). This creates higher competitive advantage for company. For that here is identify such marketing strategy for British airways are as follows:
Product planning strategy:
Product planning is the best strategy which is helpful for manage attraction of customers in respective manner. This highly effective and valuable for company which is more helpful for improve image of company and its products and services. This creates more effectiveness for business. In respect of British airways company maintain their ticket and other facilities for customers. With the help of this customers are highly able to purchase and use products and services of British airways. The company is providing their ticket bookings on online apps and receive booking of customers. Through that customers are directly booked their ticket without going at their and as per their requirements. This is the best and effective strategy to increase sales and profitability of company.
The promotion is another strategy which is helpful for manage knowledge of customers related with company products and services (Krush, Trainor Malshe and Agnihotri, 2016). With the help of this strategy company is updates details of products and services in customers mind. A British airway makes various promotional strategy which are help to promote product and services at market place. For that company uses advertisement by making various promotional videos, building positive customers relations and discounts on specific offers and bookings. This is very important and effective concept and strategy to attract more customers towards company. Through that customers have proper details of product and they think to purchase products of company in effective manner.
Pricing is another strategy which is more helpful for company. This provides more satisfaction to customers about their products and its price is worth it or not. This is highly effective and valuable for growth of company. The company is uses market penetration pricing strategy. In this marketing strategy company is sets price of product lower in first, after uses by Customers Company increase price of product. That is help to build customers attraction and loyalty of customers in effective manner. With the help of this, customers have higher attraction of product and quality of services (Morgan and et.al., 2019). This pricing strategy is highly helpful for business to build and make positive brand image at market place. This is highly important and effective for company to sets price of product and services which they are offers to