Marketing Strategy of Ethiad Airways

Table of Contents 1. 0 Introduction 3 2. 0 reveal-of-door Environment epitome3 2. 1 Porters Five Forces Analysis 3 2. 2 SWOT Analysis 5 3. 0 strike offeting Strategy Analysis 6 3. 1 Segmentation, Targeting and put 6 3. 1. 1 Segmentation 6 3. 1. 2 Targeting 6 3. 1. 3 Positioning 7 4. 0 strategical aloneiances 8 5. 0 Sponsorship 9 6. 0 Contri only whenion to the rivalrous Advantage and its Sustainability10 6. 1 Segmentation, Targeting and Positioning 10 6. 2 strategical Alliances and Sponsorship 10 7. 0 Conclusion11 8. 0 References12 record book Count 3282 1. 0 IntroductionEtihad carryways, the national respiratory tract of the United Arab Emirates, has in nevertheless eight years established itself as the worlds leading skyway. come down up by Royal Decree in July 2003, Etihad commenced commercial operations in November 2003 and became the fastest growing airway in the history of commercial zephyr (Etihad, 2012). Abu Dhabi, the capital of the United Arab Emirates, is the airlines hub. The airline seeks to reflect the best of Arabian hospitality cultured, considerate, warm and generous as well as sharpen the prestige of Abu Dhabi as a centre of hospitality in the midst of East and West.However, nowadays it is actu all(prenominal)y hard to primary(prenominal)tain the cable in much(prenominal) a competitive market place in times of recovery from the recent recession. in that locationfore, it is crucial to understand that just providing a emolument is not enough. Firstly, this report overviews the outer surroundings in which Etihad has to survive and compete, evaluating its main challenges and opportunities. Secondly, Etihads main marketing strategies will be identified and critically discussed. Thirdly, the extent to which observeed marketing strategies help to get hold of and sustain the competitive reinforcement will be analysed.Finally, the conclusion will be latch onn based on achieved intimacy and personal assumptions. 2. 0 away Environment Analysis For better understanding of the marketing strategy that Etihad commits, it is crucial to analyse the external environment in which the company operates. 2. 1 Porters Five Forces Analysis In order to examine the positioning strategy and forces of the external environment that may electric potentially affect the Etihads performance, it has been decided to adopt the classical 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 greets, the prices and the profits of the organisation (Porter, 1980). * war-ridden rivalry in the industry lofty In harm of competitors, Etihad airways main competitors be the companies operating in Middle East, which atomic number 18 Emirates Airlines, Quatar Airways and Gulf Air. These airlines operate in a higher price and quality spectrum than, for example, Air Arabia and be being direct competitors for separately other (McKechnie et al. , 2008).Rivalry between these companies is very intensive, as there atomic number 18 a small number of competitors on the market. * Bargaining power of customers low In order to hold in a signifi thronet amount of power in the industry, there should be a few customers who can dictate their rules to the organisations, as for example in some B2B cases. However, there are millions of customers, who are willing to aerify to and from Middle East, where Etihad operates, therefore, customers substantiate a very limited power. * Bargaining power of suppliers high For the airlines organisations the main suppliers are the aircraft manufacturers and the cover companies.In both cases there are a very few of them. Therefore, airline industry companies have a very limited power over their suppliers. Additionally, as it has been announced by the International Air Transport Association (2008), the global airline industry possesses losses due to the increased oil prices which also decrease t he industrys profitability. * Threat of unsanded(a) entrants low The threat of new entrants depends on the number and complexity of the barriers to entry. The barrier of the starting capital or investment is extremely high in the airline industry.Also, there are a lot of legal or patents issues with opening and maintaining of the airline organisation, which also is a barrier to entry. The brand loyalty is another very important barrier to entry. When choosing the airlines, customers, especially the high profile ones, are being very careful or so health and safety, comfort and other details, therefore lam to choose companies with the brand they trust. Overall, 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, it tends to be absent by one of the major players in the industry. Threat of substitutes low Airlines industry being an important sector of travel and tourism industry will have such potential substitutes as the sea, railway and road types of transportation. However, as Etihad is operating in an upper-class prices level, the threat of substitutes would be fairly low. In terms of potential subscriber line travellers, the time would be more important than money for them. In terms of leisure tourists, the prices may matter, however, cruise ships tickets tend to be more high-priced 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 overall external environment, it is important to evaluate Etihads main strengths and weariednesses, suggesting what opportunities and threats are there, by using a classical SWOT model. 1. Strengths * Well settled airlines company, by February 2012, operating a fleet of 63 Airbus and Boeing aircraft (Etihad, 2012) * Over seven million travellers per year with 1000 flights a week, 84 destin ations in 52 countries. * Global sponsorship of events and sports clubs. Frequent-flyer program Etihad Guest computer programme, considered being innovative, offering greater flexibility to its customers (McKechnie et al. , 2008). * Global Awards received in 2009 and 2010, as the worlds leading airline. * More than 30 awards received for service by the World Travel Awards (WTA) (Etihad, 2012). 2. Weaknesses * Failure of the bid to sponsor Manchester United team. * Still fairly under damped in comparison with companys main competitors Emirates Airline (170 aircraft, 115 destinations) and Quatar Airways (132 aircraft, 100 destinations) (Emirates, 2012 Quatar, 2012). . Opportunities * 100 aircraft on order, including 10 Airbus A380s, the worlds largest passenger 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 m ember 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 Marketing Strategy AnalysisThe main component of the firms 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, instalmentation, targeting and positioning are inseparable as they all related to each other. Segmentation is dividing the market into several(predicate) groups with similar require. Targeting is determining which offerings to make to each market segment and then the final step is to position the brand deep down the target market (Hooley and Saunders, 1993).Traditionally, airlines segment their customers in order to align their product strategy according to the several(predicate) segments (Teichert et al, 2008). 3. 1. 1 Segmentation Market Segmentation was delimitate 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 require 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 rhomb First Class, Pearl course Class and Coral Economy. Each class is excogitationed at a different customer segment. Diamond First Class is aimed at wealthy individuals and business people who are willing to maintain their luxurious lifestyle in the air. Pearl Business is targeted at business and leisure travellers who are willing to move over more to enjoy a better flying experience. Coral Economy is aimed at customers who are on a budget but 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. Based on the prices that Etihad charge, it is clear 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 step is to target their customers with products and go that might appeal to that particular customer segment. Etihad airlines follow a differentiated marketing approach which involves targeting several market segments and designing separate offers for each (Kotler et al, 2005, p. 419). Etihad is different from their rivals because t hey are smaller airline but 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 anywhere else by the customer. A disadvantage of the strategy is the high volume of resources required to put up the needs of different customers, resulting in a loss of economies of scales and increased operating costs for the company. 3. 1. Positioning A positioning strategy determines where the business competes, how it 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 ident ify 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 oriented 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 almost the homogeneous 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 extensive time to achieve. Etihad is positioned at the high end of the airline industry.In comparison to RyanAir and Easyjet, these airlines are at two extremes of the scale and it is clear 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 ind ustry, it has capitalised on its uniqueness. The company achieved a huge success in the short time of operating and established a strong sustainable market position. Looking at the STP of Etihad in the light of the environmental conditions in which it operates, it is clear to see that the conditions are a half-size bit tough due to competition from cheaper airlines and the gloomy economic outlook.Due to the recession, people are tightening their belts and spending 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 revenue comes from economy class seats, therefore if they price themselves too high in these current economic conditions, they risk losing a huge chunk of their revenue 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 sam e customers.Also these two companies are more established and have a bigger customer base than Etihad. Etihad is still a very young company being vulnerable to competition. However, it seems they are doing very well and recently broke even, planning to exposit, 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 strengthen their position within this market. 4. 0 Strategic Alliances Strategic alliances reduce the boundaries between firms and enable easier flow of knowledge across those boundaries.This process creates the possibility for organisations to address administrative authority, form social links and conjugation ventures (Badaracso, 1991). One of the lawsuits wherefore firms engage in strategic alliances includes sufficient resources, low pace of innovation, low technology, high manufacturing cost and market access (Doz, 1996). Another reason to collaborate in str ategic 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 helpers more than they gain, the exchange of resources, benefits and knowledge should be reciprocated between the firms. governings 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 coope rative relationships for a long term as most strategic alliances are based on the current benefits kind of than future competitive advantages. Also, in strategic alliances, the effect of competition can lead to aggressive knowledge learnedness from match firms (Kaplan, et al. , 2010). Notably, many alliances fail as a result of inter firm rivalry (Park and Ungson, 2001).When firms merely pursue self-interests (competition) but neglect common benefits (derived from cooperation), partner firms may lose motivation 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 that partner, to credibly convey relevant discipline 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 official Aviation Administration (FAA), is a merging of res ources, 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 overlap of parts or the utilization of mechanics, pilots, and flight attendants. Some of the strategic alliance adopted by Etihad can include code-sharing agreements, marketing ar hightail itments, procurement policies, system commonality, and interchanges of flight-crew military group 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 justcodeshare, is an aviation business arrangement where two 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 staring(a) Blues group of airlines which enables Virgin Blues intern ational brand V Australia to operate roast services with Etihad. Combined, these two airlines offer joint networks of more than 100 destinations (Etihad, 2012).To succeed, alliance partners must encourage true collaboration beyond the formal governance structure and learn how to adapt and mix in knowledge acquired from the alliance to serve the specific 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 reinfo rcing brand rightfulness supported on updated processing of attributes, benefits and attitudes (Keller, 1998). Corporate sponsorships are utilize to enhance the brand equity by raising awareness 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 promotion of caring attitude and proficientwill. The good example of successful sponsorship is Etihads stadium 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 made 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 sponsorshi ps involves any bad publicity derived from the benefactor will inevitably affect the brand name associated. 6. 0 Contribution to the Competitive Advantage and its Sustainability After analysing Etihads main marketing strategies, the discussion below will be about 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 understanding 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 system 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 ladder 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 airport 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 intricate 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 amend product quality, technologies and factors related to products.Sustainable competitive advantage indicates that companies could maintain their completive advantage for a long term (Culpan, 2008). Through their strategic alliance with Sabre in declination 2011, Etihad gained access to integrated software across its reservations, inventory marketing and e-commerce, distribution and departure control operations. The benefits from this all iance 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 understanding 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), Absorptive Capacity and Source-Recipient Complementarity in Designing New Products An Empirically Derived Framework,Journal 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 say, 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), King of the Skies, Online Available at http//www. businessmanagementme. com (Accessed on 20 March 2010). Ohmae, K. (1989), The Global Logic of Strategic Alliances,Harvard Business Review, 67 (MarchApril), 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 W artburg, I. (2008), Customer Segmentation Revisited A Case Study of the Airline Industry. Transportation Research, A(42), pp. 227-242. Vander Kraats, S. A. , (1993), Gaining a Competitive Edge through Airline Alliances, Competitiveness 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. 74-94. 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 clear 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 diction and terminology used lacks sophistication. Referencing is consistent. 5 The work lacks a central narrative which links the issues discussed together in a coherent way. Referencing is haphazard. 4 The work has no accepted 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 sensible choice of models and concepts has been made with which to carry out analysis. The models are used well and develop clear and robust analysis which shows an tenuous 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 bu t 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 described and there is nothing to guide or focus the analysis 0-9 3. Evidence of Research about the Company and its Business Environment (25 marks) Mark range MarkThe denomination uses a variety of sources, all of them reliable, to provide an excellent level of detail. A systematic approach is interpreted to the gathering of evidence and information about the company and its environment. ha ndlings 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 reach sound conclusions 15-17 Different sources may be used to gather information but there is no real attempt made to distinguish 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 no real evidence of a systematic approach to gathering information. Conclusions reached do not reflect the quality of evidence provided. 10-11 The assignment is too reliant on just one or two sources of information about the company and no attempt is made to examine the reliability and quality of those sources.Material presented is accepted uncritically and without question. 0-9 4. Dis cussion and Analysis (25 marks) Mark range Mark The assignment has a clear focus on the question posed 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 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 leans 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 mak es no real attempt to use theory, models or evidence to explain 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 integration between theory, models and evidence at all. 0-9 5. Conclusions (15 marks) Mark range Mark Conclusions reached are robust, clear and an accurate reflection of the preceding sections of the report. Conclusions draw together the different strands of theory 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 reasonable reflecti on of the work in the main body of the assignment. No real notation 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 typeface 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)