Marketing Principles and Strategies: A Case Study of British Airways

Marketing
Principles

INTRODUCTION
Marketing is the activity of promoting, advertising and selling of products or services to
the potential customers. it is very important for achieving the objectives of making profit and
sales. The scope of marketing is huge which involves different types of methods for pursuing the
customers and reach them. In order to achieve the marketing goals of a company, there are
marketing principles which are followed. This comprises elements of price, product, place and
many more. These are helpful in formulating effective strategies which can be applied for
accomplishing the target identified in the marketing activity. In this report, British Airways (BA)
has been chosen which has the headquarters in Hermondsworth, United Kingdom. It is known as
flag Carrier airlines of UK and it merged with Iberia in the year 2011 which created International
Airlines Group. It is one of the major player of airline industry in UK which rely greatly e on
strategies formulated by it. This industry is facing intense competition at current situation due to
which BA and other competitors have to change their marketing strategies. it has number of rules
and regulations within which the airlines have to operate. Earlier, the focus of every airline was
negligible of customers demand and needs because of the support from the government.
MAIN BODY
a) Marketing concepts and terminologies
Marketing concept refers to the philosophy which emphasize on analysis of the needs of
customers and development of strategies which can provide higher customer satisfaction. It is
imperative to understand the requirements of target customers in order to have competitive
advantage in the fuse competition. Furthermore, every organisation should review the adopted
marketing concept in order to make changes. Apart from this, there are various terminologies
which are used in a business to help it grow through the cut throat competition and survive in the
market for a long time. BA is an airline having strong position in the market and provide services
of good quality. It is a major shift in the traditional approaches followed by the above mentioned
company which helped it to design itself according to the requirements of target audience. Some
of the related market concepts and terminologies have been described below:
Product strategy- It refers to the blueprint for document that describe an organisation to focus
on the development of product on the basis of needs and requirements of target customers. It
enables the company to assess whether the product is according to the marketplace or not.
Furthermore, 8 it helps in determining the significant effect that the goods are going to take on