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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sleeper class at affordable price will help the company in increasing it supply . Ryanair by using
the production concept will be able to cover its cost and generate profits by introducing new
innovation in reach of target customers.
Product Orientation Concept
This concept focuses on delivering product and services of greater quality on assumption that
availability and prices will not be affecting the purchasing power of consumers. New innovative
product are therefore accepted by society at large. Ryanair has brought completely new concept
of introducing economy sleeper class in it airline which ha not yet been introduced by
competitors therefore consumers will be able to buy these services at slight higher prices. Long
route passengers who cannot afford business will be moving the towards the economy sleeper
class for their journeys (Marketing Tools, 2019).
Selling Concept
Product and product concept both have focus over production where selling concept is
focused over making actual sales of product and services. Selling concept is focused over
making sales of product or service that are produced by company. The concept says customer
will buy any product or service only if products or services are sold aggressively. Philosophy of
marketing don not focuses over building relationships with consumers (Selling Concept, 2019).
Ryanair also for the success of new service has to lay focus over selling the services
aggressively before the competitors come up with something new.
Marketing Concept
Company which believes in marketing concepts places customers at centre of organisations.
Every activity of the organisation is geared focusing on customer needs. Business is aimed at
understanding wants and needs of customers. Depending on market research initiating from
conception of product to sales market strategies are executed by them. Ryanair has used this
concept for analysing the target market so that it could deliver more values to its customers than
its competitors. And has discovered the demand for more comfort for long routes (Marketing
Concept, 2019). Sale of any service and product mainly depends on decision of customer to
purchase any product which is based on perception about value of product.
Societal Marketing Concept
It is completely new marketing concept highlighting on needs and desires of their target
customers thereby delivering better values than competitor. This concept also focuses on well-
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being of clients and society on large. Marketers in this concept focuses on on building ethical
and social considerations in marketing practices of company. It has helped Ryanair to focus on
comfort level of the customers who cannot afford high prices. New service will provide comfort
level to customer over long route. The customer satisfaction will be provided thereby striving the
organisational objective and also enhancing and preserving interest of company and society at
large.
These marketing concepts shows change in marketing concept over years where the focus is
shifted from product and services to customers (Societal Marketing, 2019). Companies are not
only required to be provided with new and improvised product but also with good experiences
that will help company to grow . Ryanair can use these concept for achieving the competitive
advantage in the market over its competitors.
CONCLUSION AND RECOMMENDATION
Conclusion
By analysing the overall study conclusion is drawn that marketing concepts in the present
environment are playing very important role. For achieving success in organisation it is
important for companies to focus on these marketing concepts and employ them effectively in
their business operations. Ryanair is an airline company that is bringing concept of economy
sleeper class focused at customers who travelling over long routes on seats. The focus is to
provide these customers comfort at affordable cost which will ease their journey. This new
service has not yet been provide by its competitors therefore company can achieve its
organisational objectives satisfying customer needs.
Recommendations
Along with new sleeper class airline can also provide some extra services like bar facilities and
other promotional things that will help the company to attract new customers.
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REFERENCES
Online
Marketing Tools. 2019. [Online]. Available through: <https://www.marketingprofs.com/>
Massive Insider Trading. 2019. [Online]. Available through:
<https://www.businessinsider.com/international?r=US&IR=T>
Societal Marketing. 2019. [Online]. Available through:
<https://www.blog.hubspot.com/marketing>
Marketing Concept. 2019. [Online]. Available
through:<http://www.netmba.com/marketing/concept/>
Selling Concept. 2019. [Online]. Available
through:<http://www.netmba.com/marketing/concept/>
National express. 2011. [Online]. Available through :
<https://www.ryanair.com/doc/apt/transfer/LGW.pdf>
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