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Assessment of Marketing Principles & Practice

University: Bloomsbury institute london

  • Unit No:
  • Level: High school
  • Pages: 11 / Words 2871
  • Paper Type: Assignment
  • Course Code: LSBM101
  • Downloads: 836
Question :

This assessment will cover following questions:

  • Examine the role of marketing strategies and programs used for organisational objectives.
  • Analyse the marketing concepts and principles used to deal with different organisation operations.
  • How marketing concepts, strategies and programmes improve performance and bring effectiveness in the organisation.
Answer :
Organization Selected : British Airways

1. INTRODUCTION

Marketing is one of the critical functions of any business. It is one of the elements that used for-profit and non-profit enterprises. Marketing principles and practices are a broad process that includes research, product design, promotion, customer services, development, etc. All strategies and tactics centres with several core principles that assist to accomplish desired results in a systematic manner (Trivedi, Trivedi and Goswami, 2018). One of the important element is the marketing mix that consists of different products and services that offer and relate with distribution, price, and promotion. Distribution refers to get goods and services to increase profitability that generates value among several customers.

Present report is based on British Airways which is one of the largest organizations in the airline. This organization operated in different areas of the world with the establishment of co-operation with other countries. Therefore, the company expanded its operations and functions with different activities to run effectively. It is a public limited company owned by shareholders who possess limited liability. In order to focus on the present report, it covers key elements concepts and terminology that are applicable to British Airways. Furthermore, it includes marketing strategies and programs that helped the chosen organization to develop different techniques to learn and develop beneficial solutions in an effective manner.

2. MAIN BODY

a) Explain Key Marketing Concepts And Terminology Applicable to British Airways

In order to gain success, it can be stated that a successful marketing plan generally consists concept of marketing that are successfully applied to British Airways. In this aspect, different concepts are explained as follows:

Product strategy: Product strategy is generally develop with ultimate vision towards product. It is generally state that direction of product efforts similarly applicable with effective use of a map. Furthermore, in British Airways it grows up with own strategy and destination. Product strategy also form basis for execute product roadmap (Khowaja and Feroz, 2019). With the help of this strategy, they are focusing on specific target market and feature set as compare to others. In this aspect, the selected business defines target customers for their market such as businessmen, family tour customers, etc. With respect to create product strategy, the company needs to focus on learning more about the market. For example, the chosen company sell their services with more discount offers. By identifying a particular target market in product strategy, in different areas of the world. In this way, strategic goals can be accomplished in a successful manner. It helps the business to outline a strategic vision to gain success in it.

Branding: British Airways is one of the largest airlines in the UK. It is generally based on the trusted brand so that success accomplish with British heritage. It consists of different a range of services with branding so that they deal with car hire, hotel and flight combination and different economy class services. The company has a positive brand image so that its brand extension is also impacted positively by customers (Sarquis and et.al., 2019). On the basis of lower cost at higher coverage, the chosen company easily compete with other organization. With innovative functions and operations, the selected business easily leads to successful outcomes. In this aspect, the organization also provides in-flight Wi-Fi which assists to attract several customers in a systematic manner. With the help of a strong brand image, they can also penetrate budget travel. On the basis of expanding the budget airline market, growth also increases among different travellers. There are several benefits to increasing travel such as great value, uncompromised quality, and emphasis on stress-free experience with easy access to the airport (Sadiku, Kotteti and Musa, 2018).

Promotion strategy: The chosen company British Airways consists of promotional strategy in marketing that make public awareness regarding products that influence customers for purchasing it. In this way, they can establish long term relationship which increases customers and repeat their purchasing with several methods of advertisement. In this context, methods of communication include advertising, digital marketing, sales promotion, and public relations (Baker, 2016). In this strategy, the message is one of the essential elements that consider a unique selling proposition to deal with different competition. On the basis of different company competition customers increase their purchasing from the selected organization. With the establishment of a budget, it can be stated that a promotional strategy is important with setting the right budget for success the plan.

b) Identify The Marketing Strategies And Programs That Helped British Airways Achieve Their Objectives And Does These Achieved in Ethical Manner?

Without a marketing strategy, the company unable to grow their performances and outcomes in terms of profitability. British Airways has the objective to increase its customers by providing them more innovative services in a systematic manner. Furthermore, the chosen company has another objective is to understand the changing needs of customers and provide them high-quality services which assists to accomplish their demand in an ethical manner (Hasan, 2019). In order to accomplish the above objectives, the following are different marketing strategies and programs used by the chosen enterprise:

Paid advertising: In this kind of advertising, it can be stated that there are multiple approaches available for marketing. In this aspect, British Airways consider traditional approaches such as TV, print media advertisement, etc. It is one of the famous marketing strategies in which the chosen company has to pay with a per click (Hoque and et.al., 2019). Therefore, it assists in maintain more profitability and effectiveness with paid advertisement.

Internet marketing: Internet marketing is also known as cloud marketing. It generally happens over the internet. All the services provided by British Airways shared on the internet and promoted at different platforms with multiple approaches. As a result, it assists to know about customers’ needs and requirements in a systematic way (Shelton, Wojciechowski and Warner, 2016). It is the best way to promote different products and services provided by the organization to fulfil different customer’s needs.

Word of mouth: It is the marketing strategy that relies on the impression that leave on people. It is one of the traditional approaches that are most important and assists to increase significant advantages. With the help of these methods, quality services to customers ascertain that it helps to promote British Airways. It is also known as the sharing of views from one person to another (Yadav, 2018).

Cause marketing: This marketing strategy links with the services of the company towards a social cause or issue. Therefore, it is related to successful marketing. In this aspect, it can be stated that British Airways successfully linked with its services to fulfill all customers’ needs and requirements.

Relationship marketing: Relationship marketing is another type of strategy that basically focused on building customers (Nart, Sututemiz and Karatepe, 2019). It assists to increase the existing relationships with the customer and improve their loyalty towards products. In this consideration, it can be stated that the profitability of British Airways increases in an ethical manner by providing the best services to them. It helps to lead successfully within the different areas of the organization.

Diversity marketing: Diversity marketing assists to accomplish objectives of British Airways by customizing and integrating different marketing strategies. It includes different aspects of culture, belief, attitude, other specific needs, etc.(Payne-Palacio, 2016).

c) Explain Two Marketing Concepts And Principles That Used in British Airways in Daily Organisational Operations Such as 7Ps, STP

British Airways consists successful marketing plan that assists to integrate several important elements that are related to the marketing mix. In this consideration, there are several concepts and principles are successfully applied used in the chosen business to accomplish their goals and objectives. In this consideration, 7ps and STP are successfully applied to the enterprise which assists in developing significant outcomes in the business (Dahl, Gorn and Weinberg, 2018).

7ps of Marketing

  • Product: The chosen company demonstrates their airline services at the premium segment. There different kinds of high-level services customised and abundance on choice of core advantages to gain competitive advantages in airline business. For instance, a Great breakfast of British, Healthy choice, Veg kitchen, etc. In addition to this, airline services provision is also associated with effective digitalization which considers extensive integration of information technology. For Apple Watch, in 2015, the company also launched a new app. It helps to display a summary of the customer, next flight, flight number, route, departure or arrival time, etc. (McDonald, Pini and Bartlett, 2019).
  • Price: In this aspect, it can be stated that British Airways consists of its pricing strategy that can be described as differentiation. In this way, the airline industry charges high pricing for providing its services which can be compared to budget airlines. Its services also perceived that associated with higher quality. On the basis of promotional and geographical pricing strategy, the chosen company dealing in different areas of the world (Jan and Wan, 2018). They are also integrated discount structure where they offer rewards flights on selected destinations. On the basis of their structure, organizational operations will be developed successfully.
  • Place: The chosen the company providing their services in different areas of the world. They consider their flights more than 400 destinations in the whole world. There are several areas where British Airways providing their special services to attract several customers. The chosen organization using online sales channel to sell their tickets. Along with this, offline tickets can also purchase different channels to increase their sales. With the help of different intermediaries, the selected business will offer several flights with pricing which consider booking (Sharma and Parida, 2016).
  • Promotion: Promotion is also an important element of marketing. In this aspect, British Airways makes its brand successful with proper communication so that it helps to increase its customers successfully. There are several ways that help to promote a brand, products, and services that enhance customers. With the help of advertising, the chosen company promotes services that offer to customers. In addition to this, public relations and sponsorship is another important aspect that helps the organization. Among the large audience, the selected business will easily create a positive relationship so that it also increases brand awareness as well. This is effective in the promotion of different products and services (Folinas, Boti and Fotiadis, 2018). Along with this, vouchers also offer that helps to provide several benefits to customers in a systematic manner. The use of promotion apps for internet user customers is the most beneficial tool. In this way, customers can easily book flight effectively and get better deals as well.
  • Physical evidence: Physical evidence considers exact product that is sold where service taking place quality of a particular product (Abbas, Nisar and Zubair, 2019). It can be set a company apart from its competitors. For instance, each hotel has a bed for their customers to sleep on what which make hotel different and stand out from competitors. In this aspect, the quality of the bed and room interior offers that are better in quality. In addition to this, for entertainment TV, Laptops, etc. are generally offers which take design tickets that are made with more effort that are very attractive.
  • People: It is one of the main factor that influence service to run in the organisation. In this regard, people are generally employed in the organisation that consist direct effort on time so that customers spends in the business and service they receive. People in the organisation trained to deal with several customers see advertisement of company. The company has top level of training staff so that they involved in working of British crew to positioned members (The marketing mix of British Airways, 2019).
  • Process: Process is another effective element of marketing mix that state that service is different from product. As a result, customers of British Airways will base their opinion towards services on quality of food. Air hostess also possess ability to meet passenger needs. Their services cannot be prepared before so that they consist process to ensure customer receive same standard of quality at every time when they consume services from the company. For instance, the company provide good standard of quality time at every time.

STP for British Airways

With respect to developing strategies for further development of the organization consider customer segmentation strategies that will be effective for British Airways. Hence, in the following context, STP criteria will be explained:

Segmentation: In this process, British Airways dividing the total market into several submarkets on the basis of characteristics that are known as segmentation. There are several segments in the target markets. It can be divided into four categories that are as follows:

  • Demographic variables: British Airways consist of their market segment on the basis of demographic a variable which includes gender, age, income, education, etc. With respect to compete with a low-cost airline, the chosen company have introduced different kind of pricing strategy that can be applied in a wider range of demographics segment (Folinas, Boti and Fotiadis, 2018).
  • Psychographic variables: Market segment also based on customer lifestyle and attitude. The company has segmented their customers which based on travel whether it is business and leisure for them. In this regard, the high quality of food, drinks, spacious seating, and etc. services provided to maintain the loyalty of customers (Sharma and Parida, 2016).
  • Geographic variables: In this kind of variable, British Airways consider region and density of customers. Hence, the organization segmented domestic flights in Europe and the UK. For instance, more international and domestic flights are scheduled.
  • Behavioural variables: In this kind of segmentation, the chosen company consider their services that how people use services and how they loyal for it. Therefore, its benefits determine successfully for them in a significant manner (Abbas, Nisar and Zubair, 2019).

Targeting: With respect to selling services among different customers, it can be stated that the organization needs to choose a specific market segment that is targeting. Target market selection also facilitates as per different patterns. In this regard, British Airways target a single service at a single market. Therefore, it is known as a single segmentation and target consideration in various market segments for different services. In this kind of segmentation, British Airways offers four kinds of services packages among several customers. Premium economy, economy, first-class, and executive, these levels of services offered among customers of British Airways. In the expansion of the short-haul market, the chosen company emphasis attracting more diverse set of customers (Folinas, Boti and Fotiadis, 2018).

Read More :- Marketing Management And Planning

Positioning: It is the last step of the STP process. In this aspect, the selection of the marketing mix is the most suitable element that target customer segment. The chosen company does not promote themselves on the basis of the cheapest price of the flight as other companies do. Therefore, the organisation mainly focuses on metropolitan areas where owners of the organization on the basis of the brand of the company, British Airways positioned to develop its services at high quality. With the help of attractive positioning of products and services, the company getting major success. For achieving long term success, the company needs to grow its position effectively (Abbas, Nisar and Zubair, 2019).

3. CONCLUSION AND RECOMMENDATIONS

From the above report, it can be summarised that marketing principles and practices consist of the most important role in the business. In this regard, the report consists of discussion on different strategies of marketing that helps to focus on goals and objectives that can be achieved through a focus on different activities and work. The present report based on British Airways that deals with airline functions and operations. The report articulated about 7ps of marketing that helps to operate several functions within the organization. In addition to this, it also concluded about product, branding and promotional strategy that assists the organization in maintaining its significant results.

In order to provide a recommendation, it can be stated that British Airways need to focus on their segmentation strategy. For instance, they should try to deal with different kinds of pricing strategy which would assist to attract different customers in the business. In this aspect, several promotional strategies also required to follow the chosen company to promote its services in different areas of the world.

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