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Airline Marketing 2 principle of marketing

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Chapter 2

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Airline Marketing 2 principle of marketing

  1. 1. Airline Marketing 2: The Principle of Marketing Dr Narudh Cheramakara Bangkok University 1/2017
  2. 2. 1. What is marketing • Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. The Chartered Institute of Marketing (CIM). • Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. American Marketing Association • The action or business of promoting and selling products or services, including market research and advertising. Oxford English Dictionary
  3. 3. Critique of Marketing • According to its critics, the marketing concept is about producing things that people don’t really need and then tricking customers into buying them through deceitful advertising. – • The concept of ‘educating the customers’ could be seen as cynical (Mcdonald’s Breakfast)
  4. 4. Consumer V. Industrial marketing • Airline marketing is divided into two main focus • B2B • B2C • Complex changes throughout the history • Both have its unique marketing features – How?
  5. 5. Marketing Mix: 4Ps • Product • Price • Promotion • Place
  6. 6. 1. Product –What are airline’s products? Definition/ Explanation Typical Marketing Decisions A product refers to an item that satisfies the consumer's needs or wants.Products may be tangible (goods) or intangible (services, ideas or experiences). •Product design – features, quality •Product assortment – product range, product mix, product lines •Branding •Packaging and labeling •Services (complementary service, after-sales service, service level) •Guarantees and warranties •Returns •Managing products through the life cycle
  7. 7. 2. Price Definition/ Explanation Typical Marketing Decisions Price refers to the amount a customer pays for a product.Price may also refer to the sacrifice consumers are prepared to make to acquire a product. (e.g. time or effort) Price is the only variable that has implications for revenue. Price also includes considerations of customer perceived value. •Price strategy •Price tactics •Price-setting •Allowances – e.g. rebates for distributors •Discounts – for customers •Payment terms – credit, payment methods
  8. 8. 3. Place Definition/ Explanation Typical Marketing Decisions Refers to providing customer accessConsiders providing convenience for consumer. •Strategies such as intensive distribution, selective distribution, exclusive distribution •Franchising •Market coverage •Channel member selection and channel member relationships •Assortment •Location decisions •Inventory •Transport, warehousing and logistics
  9. 9. 4. Promotion Definition/ Explanation Typical Marketing Decisions Promotion refers to marketing communicationsMay comprise elements such as: advertising, PR, direct marketing and sales promotion. •Promotional mix - appropriate balance of advertising, PR, direct marketing and sales promotion •Message strategy - what is to be communicated •Channel/ media strategy - how to reach the target audience •Message Frequency - how often to communicate
  10. 10. 7Ps = The extension of 4Ps
  11. 11. 7 Steps of Marketing Application 1. The Customers: The full knowledge about them -market size -Demographics -customer requirements -attitudes. -Forecast: size of the market/changes in customer needs. Done through: market research and market analysis
  12. 12. 7 Steps of Marketing Application Cont’d 2. The Marketing Environment - Market policy should be decided by considering external environment. - This can be achieved by using PESTE analysis. Political, Economic, Social, Technological and Environmental.
  13. 13. 7 Steps of Marketing Application Cont’d 3. Strategy Formulation - Based on strategic direction:goals and objectives/ target market/method 4. Product Design and Development 5. Pricing and Revenue Management 6. Distribution Channel Selection and Control 7. Selling, Advertising and Promotional Policies
  14. 14. Questions?

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