Marketing Strategies of Thomson Airways
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Added on 2020-07-23
Marketing Strategies of Thomson Airways
Added on 2020-07-23
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Background of airline company.............................................................................................1Market positioning of Thomson Airways...............................................................................2Targets of Thomson Airways.................................................................................................3Firms competitive advantages. ..............................................................................................4Thomson Airways market competitors. ................................................................................4Marketing Strategies of Thomson Airways............................................................................5Present position of the entity in market..................................................................................6CONCLUSION ...............................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONMarketing research, marketing mix, level of competitiveness, positioning, segmentation,consumer behaviour are some factors that are vitally determined by every airline company inregard to generate expansion or growth among its competitors. Such factors encouragesubstantial development its revenue and recognition (Sato, Sawada, Shinozaki and Narasaki,2016). Main aim of this research is to analyse market strategies and policies that are formulatedby cited company. It also determines the level in which consumer satisfaction is been attainedand its generation of growth as well as revenue. Background of airline company.Thomson airways desires to bring people from different countries together and providesthem with comfortable travelling wherever they needed. The research has identified that itallows almost 10.6 million travellers with a comfortable journey every year. Travel companypossess many competitive advantages and likewise transform competitive strategies to become aleading airline company all around the globe (Lord, K., 2016). Cited company also offers several other services to potential consumers under hotels,cruises, villas etc. and has adopted a partnership strategy within global flights to enhance itsbrand name and growth in present and future perspective (Miyoshi and Ibáñez, 2016). Advisorycommittee members of Thomson airways have formulated plans for developing their networksunder Singapore, China, Iceland etc. They targeted those segments which were lacking thefacility crossing wide networks or distances.Further, it has become the biggest competitor among every other airline companies andaims in establishing vast networks to increase its growth and revenue. This travel agency consistsof 19 airports within UK and provides leisure destination to their travellers. British governmenthas allotted them rights to use their own subsidization. Edinburgh, New castle, London Luton,Cardiff, Dublin, Manchester, Birmingham etc. are some of its operating hubs (Wild, Murray andBaxter, 2016). Further, there was substantial increase in demand for travellers which resulted indevelopment of larger flights. Therefore, cited company aims in providing sophisticatedcomfortable travelling to their targeted costumers. They even provide with cargo facilities anddelivers them at possible short durations (About Thomson Airways, 2017).With change in technologies, cited industry adopts inventions and creativities under itsequipment to attain complete satisfaction to their buyers. Less government intervention is1
experienced under this organisation after privatization. European and overseas dimensions havenon rights in taking any decisions regarding the policies of Thomson airways which reduces risksand uncertainties under business environment (Yoshida, Miyaoka, Kanao and Sato, 2016).Further, it initiates charter facility to rich class people which enhances its recognition andreputation among other substitute companies. Cited firm has a huge dominance under differentsegments and desires to cover destinations under Caribbean Sea areas.Market positioning of Thomson Airways.Thomson airways mainly targets holiday months to target more travellers in their parentservices for maximizing its sales (McDonald and Wilson, 2016). Further, it has initiated threelevels at which market can be easily identified and segmented including- niche marketing, massmarketing and segment marketing. These are explained below: - Mass marketing is a process where organisation aims in expanding the range of consumers fromdifferent segments. Such marketing techniques does not aim in providing unique factors to theirbuyers therefore aids in developing the process of its existing flights (Hassan and Rahimi, 2016).However, this marketing strategy possess cost advantages in generating more revenue for thecompany. Niche marketing satisfies the needs and preferences of those consumers who are not beingconcerned and analysed from its substitutes (Dziedzic and Warnock-Smith, 2016). Thismarketing strategy provide privileged to rich class people for hiring private jets and facilitiesduring their travelling in national as well as international level. Segment marketing aims in grouping audiences who have similar preferences or demands andpossess common aspects (Sheth and Sheth, 2017). This is the most common strategy which isadopted by every airline company in order to maintain their market positioning.Similarly, segmentation of target market is divided under 4 divisions such as- psycho-graphic, demographic, geographic and behavioural aspects. These factors showcase firm’sviability, accessibility and its measurability. For generating demand of potential consumers everybusiness organisation focusses on analysing their preferences. These are further decided undersub parts – clusters, homogeneous and diffused (Wassmer, Pain and Paquin, 2017).Under diffused preferences every consumer follow high or different tastes and demandswhereas homogeneous factors determined zero or little differences in their target segment needs.Clusters are formulated within needs and preferences of target buyers under clustered segments2
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