Marketing Concepts
Classic Airlines is the world’s fifth largest airline experiencing some of today’s challenges associated with the airline industry. Despite its profitability, Classic Airlines is seeing a drop in consumer confidence, a decline in its Rewards membership, and a decrease in flights taken by its remaining members. Rising operating costs were countered with price reductions, but still have not increased its Rewards membership. To further address the shrinking margins, Classic implemented a 15 percent cost reduction mandate across the company, with marketing taking the brunt of the cuts. (University of Phoenix, 2008)
Tasked with turning Classic’s image around and bring back its loyal customers is Kevin Boyle, the newly hired Chief Marketing Officer. Boyle spent his first six months gathering information, examining the environment, and formulating a strategy; also referred to as utilizing the marketing intelligence system. (Kotler, Keller, 2006) Boyle discovered that a high rate of customer dissatisfaction stemmed from the company’s customer management program (CRM).
A past colleague of Boyle, Josef Wymann, offered him a possible solution of forming a marketing alliance to build upon the CRM. A study of the macroenvironment showed that the trend of forming marketing alliances was popular among several of Classic’s competitors. (University of Phoenix, 2008) The alliance offers companies the opportunity to maximize the effectiveness of responding to customers’ needs.
Research into the demographics of Classic’s customer base revealed the majority of its customers were business travelers. A commonality between the business traveler and leisure traveler was the demand for low fare prices. Other factors in the segmentation strategy, such as behavior, personality, and lifestyle, widely varied between the two types of customers. (University of Phoenix, 2009)
Internally driven factors also challenge the marketing team’s
Product Concepts What is Product? The product offering, the heart of an orginizations marketing program, is usually the starting point in creating a marketing mix. Product: May be defined as everything, both favorable and unfavorable, that a person receives in an exchange. Types of Consumer Products Products can be classified as either business or consumer products, depending on the buyers intentions. Business Product: A product used to manufacture other goods or services, to facilitate…
To: Emma Lewis Unit 3: Introduction to Marketing P1: Describe how marketing techniques are used to market products in two organisations Introduction: In this assignment I will have to be discussing two organisations, and how they use marketing techniques to market their products, there are three main marketing techniques which are the production concept, sales concept and marketing concept I will also be explaining what they mean. The two organisations that I will be writing about is Tesco and…
1003MKT – INTRODUCTION TO MARKETING FINAL EXAM STUDY GUIDE (Final and Deferred Study Areas) Semester 1, 2012 GENERAL INFORMATION * Length: 2 hours and 30 minutes. * Theme Areas: Lectures 6 – 12 (Marketing Mix; Marketing Implementation; International Marketing) * Major Sections: Multiple Choice; Short Answer; Case Study TOPICS (The key study areas are underlined below.) PRODUCT * Total product concept * Product life cycle * Product classification * Product differentiation…
of this paper is to examine the services that Classic Airlines offers to its customers. Like many of our businesses, Classic is no different from those in its industry that have suffered some setbacks. The reader will be able to identify some marketing concepts that will be beneficial to the company’s overall success and enable it to survive within the airline market. Classic Airlines has seen some success despite the current economic market, but they are facing the…
Marketing Principles FALL 2012 Marketing 345 – Section 004 Instructor: Phone: E-mail: Dr. Gwen Fontenot 337-482-6136 fontenotg@louisiana.edu Class Time & Location: MW 1:00 – 2:15 p.m. – MX 103A Office: Office Hours: Moody Hall 332 9:30 a.m. – 11:00 a.m. -- M, W 9:30 a.m. – 11:00 a.m. 2:30 p.m. – 3:00 p.m. -- M, W 9:00 a.m. – 11:00 a.m. – T, R Students are advised to email the instructor to schedule appointments for meetings (even for meetings during office hours) to ensure that the instructor…
BA 350 - Chapter 8 Assignment – KOVVURI VENKATA SUBRHMANYA AYYAPPA CHELL REDDY _9246_FALL 2014 1. Find the market penetration of the top 3 C2C websites? Top C2C websites: 1. Amazon 2. eBay 3. Craiglist Market Penetration of Amazon: Amazon’s products are accessible to the user, for Amazon has found ways to feel like a small store where items can be easily found, and even found while people are sitting in their living room. People can be confident that, if they order from Amazon, their…
The article in News Limited Network on 10 July 2013 shows how the New Google Maps app utilizes two marketing concepts: the features of product and the micro-environment. The New Google Maps app can easily distinguish the old one and any other similar products because of its features. For example, it is the first time that they can build in street-by-street navigation and offer the newest updates of traffic information, especially traffic congestion. It means that quicker routes will be proposed…
Principles of Marketing, 14e (Kotler) Chapter 1 Marketing: Creating and Capturing Customer Value 1) All of the following are accurate descriptions of modern marketing EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. E) Marketing is used by for-profit and not-for-profit organizations. Answer: C Diff:…
empirically testable. In the marketing discipline, there has been an ongoing debate on what precisely the proper domain is or what the boundaries of marketing theories are (Sheth, Gardner, & Garrett, 1988). Kotler and Levy (1969) suggest that marketing is not only a phenomenon limited to traditional business arena, but also a societal activity. In addition, Hunt (1991) limits the scope of marketing with regard to three dimensions, namely micro/macro,…