Marketing Strategy of Ethiad Airways

Table of Contents 1. 0 Introduction 3 2. 0 External Environment abridgment3 2. 1 Porters Five Forces psycho analytic thinking 3 2. 2 SWOT Analysis 5 3. 0 grocery store Strategy Analysis 6 3. 1 Segmentation, Targeting and Positioning 6 3. 1. 1 Segmentation 6 3. 1. 2 Targeting 6 3. 1. 3 Positioning 7 4. 0 strategical Alliances 8 5. 0 Sponsorship 9 6. 0 parting to the agonistical Advantage and its Sustainability10 6. 1 Segmentation, Targeting and Positioning 10 6. 2 strategic Alliances and Sponsorship 10 7. 0 Conclusion11 8. 0 References12 Word Count 3282 1. 0 IntroductionEtihad Airways, the case flight path of the United Arab Emirates, has in just eight years found itself as the worlds confidential teaching conveyline. Set up by Royal Decree in July 2003, Etihad commenced commercial operations in November 2003 and became the meteoric growing airline in the history of commercial aviation (Etihad, 2012). Abu Dhabi, the great(p) of the United Arab Emirates, is the airlines h ub. The airline seeks to reflect the best of Arabian hospitality cultured, considerate, warm and generous as well as aro delectation the prestige of Abu Dhabi as a centre of hospitality mingled with eastern and West.However, nowadays it is in truth gravid to substantialtain the stock concern in much(prenominal) a warring market in beats of recovery from the parvenue-fashioned recession. in that respectfore, it is crucial to conceive that just providing a service is non enough. number onely, this modernistics report overviews the external surround in which Etihad has to survive and compete, evaluating its main ch solelyenges and opportunities. Secondly, Etihads main merchandising strategies get push through be identified and critically discussed. Thirdly, the point to which espouse marketing strategies serve up to achieve and sustain the competitive receipts set aside be analysed.Finally, the conclusion will be drawn based on achieved knowledge and sou lfulnessal assumptions. 2. 0 External Environment Analysis For wear out rationality of the marketing scheme that Etihad uses, it is crucial to analyse the external milieu in which the company head for the hillss. 2. 1 Porters Five Forces Analysis In order to examine the puting dodge and forces of the external environment that may effectivenessly affect the Etihads performance, it has been decided to adopt the neo fall isolatedical Porters Five Forces model.By using this model, it is possible to judge the extent to which an external environment is able to shape the equals, the prices and the profits of the organisation (Porter, 1980). * war-ridden rivalry in the industry game In name of competitors, Etihad Airlines main competitors atomic number 18 the companies operating in Middle East, which argon Emirates Airlines, Quatar Airways and Gulf Air. These airlines hunt down in a risque geargonr price and quality spectrum than, for example, Air Arabia and atomic numbe r 18 being direct competitors for each early(a) (McKechnie et al. , 2008).Rivalry between these companies is very intensive, as on that point ar a downcast number of competitors on the market. * dicker world power of customers low In order to defy a crucial amount of power in the industry, at that place should be a a roughly(prenominal) customers who canister dictate their rules to the organisations, as for example in some B2B cases. However, there argon jillions of customers, who are willing to cut down to and from Middle East, where Etihad operates, therefore, customers have a very limited power. * Bargaining power of suppliers high For the airlines organisations the main suppliers are the aircraft manufacturers and the fossil oil companies.In both cases there are a very few of them. in that locationfore, airline industry companies have a very limited power over their suppliers. Additionally, as it has been announced by the International Air displace Associatio n (2008), the global airline industry possesses losses due to the change magnitude oil prices which also decrease the industrys profitability. * Threat of untested-sprung(prenominal) entrants low The threat of new entrants depends on the number and complexity of the prohibitions to entry. The barrier of the leashting capital or investment is extremely high in the airline industry.Also, there are a lot of legal or patents issues with opening and hold backing of the airline organisation, which also is a barrier to entry. The brand consignment is an new(prenominal) very important barrier to entry. When choosing the airlines, customers, especially the high indite ones, are being very careful astir(predicate) health and safety, drag and other details, therefore tend to choose companies with the brand they trust. boilersuit, the threat of new entrants is low, because there is a number of very hard to overcome barriers to entry, and if the small company appears on the market, i t tends to be absorbed by one of the major players in the industry. Threat of substitutes low Airlines industry being an important area of travel and touristry industry will have such potential substitutes as the sea, railway and road types of transportation. However, as Etihad is operating in an u prices level, the threat of substitutes would be fairly low. In marches of potential business travellers, the time would be much important than money for them. In terms of leisure tourists, the prices may matter, however, cruise ships tickets tend to be more(prenominal) than pricey than the planes ones. therefore, if the experience of cruising is not extremely important for the customers, they would prefer travelling by air. 2. 2 SWOT Analysis After looking at the boilersuit external environment, it is important to evaluate Etihads main strengths and weaknesses, projecting what opportunities and threats are there, by using a classical SWOT model. 1. Strengths * Well settled a irlines company, by February 2012, operating a fleet of 63 Airbus and Boeing aircraft (Etihad, 2012) * Over seven million travellers per year with deoxycytidine monophosphate0 flights a week, 84 destinations in 52 countries. * planetary sponsorship of events and sports clubs. Frequent-flyer program Etihad Guest Programme, considered being innovative, provideing greater tractableness to its customers (McKechnie et al. , 2008). * ball-shaped Awards received in 2009 and 2010, as the worlds claiming airline. * More than 30 awards received for service by the World operate Awards (WTA) (Etihad, 2012). 2. Weaknesses * Failure of the bid to sponsor Manchester United team. * Still fairly underdeveloped in likeness with companys main competitors Emirates Airline (170 aircraft, cxv destinations) and Quatar Airways (132 aircraft, 100 destinations) (Emirates, 2012 Quatar, 2012). . Opportunities * 100 aircraft on order, including 10 Airbus A380s, the worlds largest rider aircraft (Etihad , 2012). * The location gives higher opportunities for growth and developments. United Arabic Emirates is a very rich country with extremely quickly growing business and tourism sectors, additionally UAE is a member of OPEC, which also may help with oil prices negotiations. 4. Threats * Global rise of fuel prices. * Terrorists threats to airlines industry in general. 3. 0 trade Strategy AnalysisThe main component of the trustys marketing strategy and the rationale for this strategy in light of the environmental conditions in which it operates 3. 1 Segmentation, Targeting and Positioning In marketing, surgical incisionation, targeting and berth are inseparable as they all think to each other. Segmentation is dividing the market into dissimilar bases with sympathetic needs. Targeting is find out which offerings to make to each market segment and then the final mensuration is to position the brand within the target market (Hooley and Saunders, 1993).Traditionally, airlines seg ment their customers in order to align their product strategy according to the different segments (Teichert et al, 2008). 3. 1. 1 Segmentation scrapeet Segmentation was defined by Baines et al (2008, p. 217) as the division of a market into different groups of customers with distinctly similar needs. Alternatively, Kotler et al (2005, p. 391) add that these groups of customers have different needs, characteristics and behaviours and they get hold of different marketing or product mixes. Customers can be segmented according to geographic, demographic, psychographic and behaviour variables.Etihad segment their customers according to three different boarding classes, which are Diamond First Class, Pearl officiate Class and Coral Economy. Each class is aimed at a different customer segment. Diamond First Class is aimed at wealthy individuals and business people who are willing to maintain their noble-minded lifestyle in the air. Pearl Business is targeted at business and leisure tr avellers who are willing to pay more to enjoy a correct speedy experience. Coral Economy is aimed at customers who are on a budget however willing to enjoy a comfortable flying experience with the highest level of service.It is worth noting that Etihad is a five star airline and provides the highest level of service. According to Milne (2009) Etihad segment their customers according to business, religious, personal and tourist purposes. The rationale behind Etihads segmentation is to appeal to all types of customers with different income levels. base on the prices that Etihad charge, it is give-up the ghost to see that they aim for the middle and upper class social sector customers who command high standards of hospitality and luxury. 3. 1. 2 TargetingOnce a company has segmented their customers into different groups based on their characteristics, the next graduation is to target their customers with products and serve that big businessman appeal to that particular customer segment. Etihad airlines take on a differentiated marketing approach which involves targeting several market segments and calculating separate offers for each (Kotler et al, 2005, p. 419). Etihad is different from their rivals because they are smaller airline just they are a luxury brand and offer personalised services to all their customers in spite of what class they are travelling in.By differentiating the market, this might lead to higher sales volumes for Etihad because they are able to exploit the segments with their offerings. The benefits of the strategy are its difficulty for competitors to copy and the level of service cannot be obtained anyplace else by the customer. A disadvantage of the strategy is the high volume of resources requisite to meet the needs of different customers, resulting in a loss of economies of scales and change magnitude operating represents for the company. 3. 1. Positioning A positioning strategy determines where the business competes, how i t competes and the choice of differential advantage which dictates how it competes (Doyle and Stern, 2006, p. 84). Positioning is important for an organisation because it is a way for a business to stand out from its rivals and let the customers to delineate the brand easily (Baines, 2008, p. 251). Etihad positions itself within the airline industry as a luxury brand which offers 5 star hospitality and luxury personalised service.Etihads on-board services are hospitality orientated and are similar to those of 5 star hotels. The airline industry is very competitive and it is hard to differentiate between the quality of services because they al most(prenominal) the same and there is not much of a distinctive difference between them. Etihad has a competitive advantage in this market by starting out as a luxury brand form the outset. Other airlines are now trying to raise their standards but this will take a long time to achieve. Etihad is positioned at the high end of the airline indu stry.In comparison to RyanAir and Easyjet, these airlines are at two extremes of the scale and it is turn over that Etihad does have a strategy that makes it different from all the airlines on the market. Because Etihad has positioned itself well within the industry, it has capitalised on its uniqueness. The company achieved a huge success in the short time of operating and established a severe sustainable market position. sounding at the STP of Etihad in the light of the environmental conditions in which it operates, it is pull in to see that the conditions are a little bit tough due to competition from cheaper airlines and the gloomy economic outlook.Due to the recession, people are tightening their belts and expenditure less, therefore most people would prefer to pay less to fly to their chosen destinations. This is where Etihad stand to lose out to cheaper airline companies. 40% of their gross comes from economy class seats, therefore if they price themselves likewise hi gh in these rate of flow economic conditions, they risk losing a huge chunk of their receipts to other airlines because customers will always go for the cheaper airline ticket. In terms of competition, Emirates & Qatar Airways are Etihads biggest competitors, fighting for the same customers.Also these two companies are more established and have a bigger customer base than Etihad. Etihad is silence a very young company being vulnerable to competition. However, it seems they are doing very well and recently broke even, planning to expand, while maintaining their current market position. All this can be accredited to their solid marketing strategy which they are using to maximise their benefit and corroborate their position within this market. 4. 0 strategic Alliances Strategic federations reduce the boundaries between firms and modify easier flow of knowledge across those boundaries.This process creates the possibility for organisations to portion administrative authority, form social links and joint ventures (Badaracso, 1991). One of the reasons why firms learn in strategic alinements includes sufficient resources, low pace of innovation, low technology, high manufacturing cost and market find (Doz, 1996). Another reason to collaborate in strategic alliances is to create a competitive advantage over competitors in the market (Lei and Slocum, 2005). Also, strategic alliance help companies to bring their products on to the new innovation level (Zhang, 2010).The advantage of strategic alliances is to share the risk and cost of products. Firms join strategic alliances for compiling technologies and assets, enhancing easier access to resources and technologies (Ohmae, 1989). Firms could assure the sufficiency of their resources, that the new technologies to maintain their advantages with the strategic alliances (Ireland, et al. , 2002). The disadvantages of strategic alliances is that organisations might give their supplys more than they gain, the switch of resources, benefits and knowledge should be reciprocated between the firms.Organizations could stand the chance of losing their competitive advantages if they provide benefits such as resources, knowledge and technology. Most strategic alliances dont maintain their cooperative relationships for a long term as most strategic alliances are based on the current benefits rather than future competitive advantages. Also, in strategic alliances, the effect of competition can lead to aggressive knowledge acquisition from partner firms (Kaplan, et al. , 2010). Notably, many alliances fail as a result of inter firm rivalry (Park and Ungson, 2001).When firms merely watch over self-interests (competition) but neglect common benefits (derived from cooperation), partner firms may lose motive to continue the alliance. Implementing any organisational alliance successfully depends upon a firms knowledge and ability to manage interdependencies with a partner through on-going coordination with t hat partner, to believably convey germane(predicate) culture and knowledge to the partner, and to develop social bonds with the partner (Ireland, et al. , 2002).Strategic alliance between airlines, as defined by the Federal strain Administration (FAA), is a merging of resources, operations, of financial interests between one entity and another entity (Vander-Kraats, 1993). This entity could be an air carrier or a repair station and could involve the manduction of parts or the utilization of mechanics, pilots, and flight attendants. Some of the strategic alliance adopted by Etihad can include code- overlap agreements, marketing ar blowments, procurement policies, transcription commonality, and interchanges of flight-crew personnel and sponsorship with other major organisation (Vander-Kraats, 1993).Etihad pursuit of code sharing agreement has become a key part of its marketing strategy. Acodeshare agreement, sometimes simplycodeshare, is an aviation business ar strayment where t wo or more airlines share the same flight. A seat can be purchased on one airline but is actually operated by a cooperating airline under a differentflight number or code. Etihad has a major partnership with Virgin Blues group of airlines which enables Virgin Blues international brand V Australia to operate joint services with Etihad. Combined, these two airlines offer joint net imparts of more than 100 destinations (Etihad, 2012).To succeed, alliance partners must encourage true collaboration beyond the dinner dress governance structure and learn how to adapt and integrate knowledge acquired from the alliance to serve the special needs of their own innovative efforts (Hughes and Weiss, 2007). Through these alliances Etihad strengthen their core-competence such as stronger brand name, and capture a stronger client base. 5. 0 Sponsorship Etihads sponsorships portfolio includes sports and major tourism events in the U. A. E and different regions in the world.Commercial sponsorships is defined as a cash investment in an activity, person or event, while in return gaining the access to the exploitable commercial potential associated with that activity or person by the investor (Meenagham, 1991). Sponsorships provide the mechanism for changing, adjusting or reinforcing brand equity supported on updated processing of attributes, benefits and attitudes (Keller, 1998). Corporate sponsorships are use to enhance the brand equity by raising consciousness and creating positive brand associations in the mind of consumers (Gwinner and Eaton, 1999 Meenagham, 1991).This highlights the effects and significance of strong brands as it possesses the ability to attract a wide audience. The advantages of sponsorships include the furtherance of caring attitude and goodwill. The good example of successful sponsorship is Etihads field and Etihads association with Manchester city and a football team which attracts a wide audience (Etihad, 2012). The disadvantage of sponsorships is that the investments make by the sponsors do not always guarantee that the objectives will be achieved.In the case of Etihad, investing in sport teams can backfire if they dont meet the expectations the firm had for their performance. The final disadvantage of sponsorships involves any bad publicity derived from the benefactor will inevitably affect the brand name associated. 6. 0 Contribution to the belligerent Advantage and its Sustainability After analysing Etihads main marketing strategies, the discussion down the stairs will be to the highest degree how each of the components of these strategies contributes to the firms competitive advantage. 6. Segmentation, Positioning and Targeting Segmentation gives Etihad a competitive advantage because it helps them differentiate and understand their customers needs more and helps improve their offering to the different types of customers. By consciousness their customers needs better, they can gain an advantage over their rivals. On the other hand, every airline segments their customers according to the different classes therefore there is not much of an advantage since they all have a similar governing body of segmenting their customers.Etihads positioning gives them a competitive advantage because they position themselves as a 5 star airline offering 5 star hotel quality services on board. Their service on board is what sets them apart from their competitors. This advantage is sustainable in the long run provided they maintain their high standards throughout. Also, in terms of positioning, Etihad found a gap in the market by using Abu Dhabi Airport as their base rather than Dubai aerodrome because of the cheaper airport fees and taxes which gives them a cost saving competitive advantage.By targeting a specific demographic, Etihads marketing campaigns are likely to be more cost and time efficient as it will be highly relevant to the target markets needs and it enables them to stand out from their competitors. 6. 2 Strategic Alliances and Sponsorships Strategic alliances have enabled Etihad to create a competitive advantage in their industry and make this advantage sustainable. Etihad engage in strategic alliances as a way of seeking to reduce competition in their quest to raise profits (Badaracco, 1991). These alliances have nabled the company to share the risks associated with the ventures because some projects are too complicated for Etihad to handle on their own. (Badaracco, 1991). By collaborating with other firms worldwide, Etihad are overcoming barriers to entry in new geographical markets since they are a growing company looking to expand globally. Organizations expanding overseas find that they require a local partner due to unfamiliarity with the local conditions (Badaracco, 1991). Strategic alliances enable firms to exchange favours such as improving product quality, technologies and factors related to products.Sustainable competitive advantage indicates that companies could m aintain their completive advantage for a long term (Culpan, 2008). Through their strategic alliance with Sabre in December 2011, Etihad gained access to integrated software across its reservations, inventory marketing and e-commerce, distribution and dismission control operations. The benefits from this alliance included improved joint market share which has the potential to generate over $25 million dollars per annum for both companies (Etihad, 2012). . 0 Conclusion This report attempts to analyse the environment in which Etihad Airways Company has to maintain its business profitable and prosperous. The report covers main marketing strategies and tools Etihad uses for the purpose of identifying and soul its customers base and keeping a relationship with it. Finally, the extent to which these marketing strategies help to keep the business and its competitive advantages sustainable is evaluated and critically accessed. 8. 0 References Abecassis-Moedas, C. nd c-Jouini, S. (2008), Ab sorptive Capacity and Source-Recipient Complementarity in Designing New Products An Empirically Derived Framework, diary of Product Innovation Management,25(5), pp. 47390. Badaracco, J. 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(2009), Advantage competition of inter-partner learning in International Strategic Alliance, The Journal of Global Business, 3(2), pp. 23-128. Lei, D. and Slocum, J. W. Jr (2005), Strategic and organizational requirements for competitive advantage, Academy of Management Executive, 19(1), pp. 31-45. McKechnie, D. S. , Grant, J. , and Katsioloudes, M. (2008), Positions and positioning strategy simply stated, Business Strategy Series, 9(5), pp. 224 230, Online Available at http//www. emeraldinsight. com (Accessed on 20 March 2010). Meenagham, T. (1991). Sponsorship-Legitimising the Medium, European Journal of Marketing, 25(11), pp. 5-10 Milne, D. 2009), poove of the Skies, Online Available at http//www. businessmanagementme. com (Accessed on 20 March 2010). Ohmae, K. (1989), The Global system of logic of Strategic Alliances,Harvard Business Review, 67 (March April), pp. 143-154. Park, S. H. and Ungson, G. R. (2001). Interfirm rivalry and managerial complexity A conceptual framework of alliance failure, Organization Science, 12, pp. 37 53. Porter, M. E. (1980), Competitive Strategy, New York Free Press. Quatar Airways (2012), Online Available at www. quatarairways. om (Accessed on 22 March 2012). Teichert, T. , Shehu, E. and Von Wartburg, I. (2008), Customer Segmentation Revisited A Case Study of the Airline perseverance. Transportation Research, A(42), pp. 227-242. Vander Kraats, S. A. , (1993), Gaining a Competitive Edge through Airline Alliances, fighting Review An International Business Journal, incorporating Journal of Global Competitiveness, 10(2), pp. 56 64. Online Available at http//www. emeraldinsight. com (Accessed on 23 March 2010). Zhang, H. Shu, c. Jiang, Malta, A. 2010), ManagingKnowledge for Innovationthe Role of Co-operation, Competition, and AllianceNationality, Journal of InternationalMarketingAssociation, 18, pp. 7 4-94. 1. Presentation and Style (10 marks) Mark range Mark The work is well structured and has a logical and well ordered flow between issues. Language used is sophisticated and articulate. Referencing is consistent and uses the Harvard method. 8-10 There is a promiscuous underlying structure to the work which makes it easy to read and understand. Referencing is consistent. 6-7 The work is acceptably presented and has a clear structure. The arguments are clearly expressed although the language and terminology used wishings sophistication. Referencing is consistent. 5 The work lacks a central narrative which links the issues discussed together in a coherent way. Referencing is waterlogged. 4 The work has no square structure and is more a collection of loosely related issues than anything. Referencing is haphazard and weak. There are errors of spelling, grammar and punctuation. 0-3 2. Use of Appropriate Models and Concepts (25 marks) Mark range MarkA clear and sensibl e choice of models and concepts has been made with which to carry out analysis. The models are used well and develop clear and strong analysis which shows an magnificent understanding of the model and how it can be applied. 18-25 A good choice of models and concepts is made and these models and concepts are used appropriately and correctly. Conclusions may be drawn from the use of models but these conclusions lack a little in terms of sophistication. 15-17 Models chosen are appropriate to the example under discussion but the analysis derived from them is weak or superficial.The use of models does little more than rearrange or repackage information about the company. 12-14 The use of models is haphazard and there is no clear rationale for why they have been chosen. The models deliver limited analysis and offer few if any insights into the example under discussion. 10-11 Limited or no use of models is demonstrated. Information about the company and its environment is simply set forth and there is nothing to guide or focus the analysis 0-9 3. try of Research about the Company and its Business Environment (25 marks) Mark range MarkThe appellation uses a variety of sources, all of them reliable, to provide an excellent level of detail. A systematic approach is taken to the convention of designate and information about the company and its environment. Discussions are supported by robust evidence throughout. 18-25 A good selection of sources are used to provide information about the company and its environment and these are used to construct sound conclusions 15-17 Different sources may be used to gather information but there is no real attempt made to hear between the quality of information presented.The use of information is unstructured and haphazard and provides a limited base for conclusions and discussion. 12-14 Whilst there is some information provided about the company, it will tend to be anecdotal and lacking in robustness. There is n o real evidence of a systematic approach to gathering information. Conclusions reached do not reflect the quality of evidence provided. 10-11 The subsidisation is too reliant on just one or two sources of information about the company and no attempt is made to examine the dependability and quality of those sources.Material presented is accepted uncritically and without enquiry. 0-9 4. Discussion and Analysis (25 marks) Mark range Mark The appellation has a clear focus on the capitulum constitute and answers it using sophisticated analysis and discussion which combines theory, models and robust data. There is a clear structure and line of argument throughout the duty assignment. 18-25 The assignment contains some good discussion and analysis. There is an attempt to integrate theory, models and evidence. There is some structure to the assignment and a focus on the assignment requirements. 15-17 There is a blend of analysis and description but the assignment overall lean s towards the descriptive rather than the analytical. Models may be used but there is no real attention paid to how theory can develop analysis and insights. At times, the assignment fails to focus on the question posed. 12-14 The assignment lacks a clear structure which focuses on the question posed and is mainly descriptive with no real analytical content. The assignment focuses on what has happened and makes no real attempt to use theory, models or evidence to rationalize why it may have happened and the implications of such things.The work is mainly descriptive. 10-11 The assignment is little more than a collection of loosely related points about a company and the environment in which it operates. There is no integrating between theory, models and evidence at all. 0-9 5. Conclusions (15 marks) Mark range Mark Conclusions reached are robust, clear and an accurate reflectiveness of the preceding sections of the report. Conclusions draw together the different strands of t heory and practice developed in the assignment. The conclusions show a high level of understanding of marketing strategy. 10-15 Conclusions are a good reflection of the assignment overall and round things off in a clear and competent manner. An understanding of marketing strategy is demonstrated but differentiating between important and less important issues needed development. 8-9 Reflections are a apt reflection of the work in the main body of the assignment. No real distinction is shown between important and less important issues but there is an adequate understanding of marketing strategy demonstrated. 6-7 Conclusions do little more than restate what was in the main body of the assignment and so lack impact. No distinction is made between important and less important issues and limited understanding of the subject matter is demonstrated. 4-5 Conclusions are weak, underdeveloped and have no real relationship with the work which preceded them. Conclusions do not suggest an understanding of either the theory or practice of marketing strategy. 0-3 Overall Comments Key Strengths Key Weaknesses and areas of improvement Final Assignment Grade (including Mark Contribution)