Custom «Classic Airlines and Marketing» Essay Paper Sample
Classic airlines and Marketing- a popular airline company with that possess 375 jets, serving more than 240 cities encountered a reduction in customer faithfulness that begun in the year 2005 and goes on to damage reputation and success of the company over the years. Challenges which are faced by the travelling industry have increased significantly even though the company has attained profits of more than $8,000,000,000 (Yenne, 2005). This has led to a decrease in a share price of 10% for the company regarding the investors, and central point for the media. The executive team of classic airlines decided to reduce the costs across the company in a 15% as a result of the economic circumstances.
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Yenne (2005) asserts that classic Airlines and Marketing is supposed to incorporate to incorporate marketing concepts in its operation so as to rectify this situation. There are main concepts that ought to be incorporated into the operation including production concept. Classic Airlines should be focused on the products and services that it would produce more effectively and that the creation of a supply of a low-cost products because it would develop demand for the products. Before producing a product, Classic Airlines should ask itself how it can produce the product and how it can produce adequate (Capon, 2009). This is because Classic Airlines has lost confidence of its clients; thus it will be required to reduce prices as it improves quality of their products and services so as to attract attention of their existing and non-existing clients.
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Furthermore, Classic Airlines is also supposed to make use of sales concept, this is due to the fact it will them to produce high quality products and services in addition to facilitating its attempts to convince clients to purchase them via advertising and personal selling. Nevertheless, the company ought to ask itself whether it can sell the product or whether they charge enough for it before producing or providing that given products or services. Investors and media are key factors to the growth and development of the company. Classic Airlines should therefore do its best through media try to and convince its clients who it has improved its products and service immensely although it embarks on high quality products and services alone (Kotler and Cram101 Textbook Reviews, 2006).
According to Peter (2009) one of the most significant concept that Classic Airlines should incorporate in its product and service production is the, marketing concept, this is because there is an increase in a varied of products thus hard selling is no longer reliable for generating sales. Clients are selective and buy only products that meet their changing needs precisely and these requirements are not obvious immediately due to discretionary income (Peter, 2009). Thus Classic Airlines should choose the type of clients which they want, ask themselves whether they will be able to develop products and services whenever their clients still needs them and have good strategies on how they would keep their clients satisfied. Because Classic Airline has lost its clients including loyal ones, it is supposed to start developing that loyalty again by maintaining stable and constant supply of high quality goods and services.
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In general, it is evident that Classic Airlines has been encountering a dramatic change in its operations and functions with its clients reducing dramatically. As a result, these have led the company to start incurring losses thus leading to an urgent need of rectifying the situation. Thus if Classic Airlines want to go back to its full and stable mode, it is supposed to put marketing concepts is effect as described above so that it is in a good position to attract and maintaining its initial clients. It should also improve quality of its goods and services, a fact that will facilitate attraction of clients thus leading to high profit margins.