Marketing Principles and Practice - Doc

MARKETING
PRINCIPLES AND
PRACTICE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION AND RECOMMENDATION ..............................................................................3
Conclusion...................................................................................................................................3
Recommendations........................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Ryanair is an Irish airline which was founded in 1984, It is largest part of Ryanair
Holdings airline family. The airline is delivering best services from decades with the
continuously changing market environment it is essential to innovate new product and services
for its growth. Ryan by market analysis has analysed that customer are not getting comfort over
long routes on seats and also cannot pay high prices. Seeing the customer need Ryanair airline
has decided to introduce new economy sleeper class that will be available at affordable prices.
For success of the new project airlines would be using market management orientation concepts.
MAIN BODY
Marketing is defined as an activity, sets of institutions & processes to create ,
communicate, deliver and exchange offerings which are of value to clients, customers, partners
& society as whole. Concepts of marketing relates to philosophy used by businesses for
identifying and fulfilling the needs of customers to benefit both customers and company. Same
philosophies cannot result in gain for every business, therefore different concepts of marketing
are used by different businesses. In order to satisfy objectives of organisation, marketing concept
organisations are required to anticipate wants and needs of consumers and satisfy them with
much effectiveness than the competitors . Ryanair gives importance to wants and needs of
customers. Airlines have analysed the needs of customers and planning to adopt new service for
the airlines by introducing economy sleeper class at reasonable rates (National express, 2011).
Marketing concepts refers to strategies which Ryanair is using for satisfying needs of
customers, increasing sales, maximising profits and beating competition. Marketing concepts
that Ryanair is using and executing. Marketing is management department which help airlines in
designing strategies for building profitable relations with customers. It is also essential for the
company to ensure that there is no insider trading which may affect whole plan of business
(Massive Insider Trading, 2019.).
Concepts of marketing include
Production Concept
Production concept lay emphasis on producing product or services which can be made available
at affordable prices to customers. It is oldest marketing management orientation concept which is
guiding sellers from years. Ryanair adopts this approach for increasing the supply of services
while decreasing the costs. Airline is able to reduce prices of its flights as introduction of new
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