This study presents the marketing plan for Malaysian Airlines, focusing on market segmentation, target market analysis, and consumer behavior. It also discusses marketing strategies, objectives, and action plans for the next 3 years.
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Slide 1: Executive Summary The main aim of this study is to present the marketing plan with respect to Malaysian Airline. Moreover,Malaysian Airlines will focus on these factors like demographic, psychographic, geographical, and behavioral factor and operate their business at the global level. As per the demographic factor, the organization mainly focuses on the consumer who comes in the age group of 14 to more than 35. Malaysian Airlines could segment their market by considering different elements like national, international, and regional to capture the attention of a huge number of consumers and reach a valid conclusion. Malaysian Airlines could concentrate on the classification with the loyal class. It couldcritically evaluate factors that effect consumer behavior likephysiological, protection and security, love and belongingness, esteem, self- actualization, social factor, reference groups, and social classes. In addition, it discusses different marketing strategies for operating the business like product, price, place, and promotion strategies. It also discusses many marketing objectives that are related to revenue, price, and promotion tool. For this, an organization has decided 3 years of the time period to meet the organizational task. Slide 2: Introduction
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This marketing plan demonstrates the Market Segmentation and Target market analysis for Malaysian Airlines. This report will discuss target consumers in favor of Malaysian Airlines. Moreover, it also critically evaluate the Consumer Behaviour of Malaysian Airlinestargeted customers. It also discusses different strategies of marketing that leads to increase the profitability of the firm. Further, it discusses marketing objectives forMalaysian Airlines that will be accomplished in the upcoming 3 years.At last, it also discusses the marketing mix actin plan for3 yearswith respect toMalaysian Airlines. Slide 3:Malaysia Aviation Group background
MAG (Malaysia Aviation Group) offers its different services to their potential consumers. It could segment their services in certain groups such as Ground Services, Aircraft Leasing, TalentDevelopment,andTransportationServices.Thisgrouphasofferedtransparent services at the global level as it could be effective in accomplishing the aim and objectives of research matter. It assures profit and loss accountability and solves their diverse aspects by considering new tools in the business operation. In addition, it is examined that the profit and loss account of the firm relies on a different value of assets. It could facilitate to conduct different acts as it could be associated with the attainment of the organizational task. Further, air transportation delivers the largest services to their specific consumers and facilitates to obtain higher competitive advantages. Slide 4:Marketing segmentation and Target market analysis for chosen organization
Marketing segmentation tool leads to categorizing consumers on the basis of their need, market, and interest. It could increase the sale of firm and supports to reach a reliable conclusion.Malaysiancouldconsiderdifferentelementssuchasdemographicfactor, psychological factor, psychographic factor, behaviors, and geographic factors (Zutshi, et al., 2016). It will be imperative in the attainment of increasing the sale of the firm by making a favorable image in the marketplace (Suki, 2014). Slide 5:Cont…
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This organization mainly focuses on the age group of 14-53 to provide their services. This organization mainly concentrates on this group to deliver their services as it leads to getting higher competitive benefits. In the current era, people who come in the age group of 14-53 has used more Airlines services than another group. This organization focuses on both male as well female to deliver their services. In addition, it is examined that the quality of services are offered by the organization at a higher price for their consumers as it will lead to getting a reliable outcome. In addition, it is also examined that social inspiration could be another important factor that is also practiced by Malaysian Airlines to classify their market. In addition, the organization could contribute their best efforts in the working place to increase its revenues at the least time and cost. Slide 6:Cont…
The psychographic factor could mandate to Malaysian country on behalf of their lifestyles and attitudes to their consumers. In this, the organization set a higher cost due to offering the standard quality to consumers. It could also lead to getting a favorable decision. It could be effective in maximizing the revenue of the organization. Apart from this, it is evaluated that Malaysian Airlines could consider certain factors such as international, national, and regional to capture the attention of consumers in reaching a reliable conclusion. In addition, it is examined that occupation and income factor is evaluated by Malaysian Airlines in reaching a reliable matter. It will support the firm in getting a reliable conclusion. Slide 7: Cont…
Malaysian Airlines could target to its consumers on the basis of different elements like behavioral, demographic, and geographical elements. In addition, it is examined that the organization mainly focuses on offering quality products to its consumers to make higher loyalty among consumers. The organization offers its services at a reasonable cost. In addition, it examined that higher price cannot be affordable by the rural area hence this organization mainly focus on the urban people. Moreover, it is evaluated that the company could mainly focus on offering quality services to its consumers and making a robust relationship with consumers. Moreover, Malaysian Airlines could focus on consuming different factors like both genders such as male as well as female. In addition, it is also examined that Airlines deliver healthy and fresh food to their passengers as it could lead to retain consumers in the long-term. It could be effective in increasing the reliability of decision making. Furthermore, Malaysian Airlines should need to comprehend a cost- effective strategy for offering their airlines services to their consumers. In addition, it is also examined that that psychographic factor could consider this factor to make a reliable decision
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with respect to the current research matter. On behalf of this factor, the organization delivers its services at a higher cost with higher quality. Positioning statement Malaysian Airline will generaly focus on those consumers who give more prefernce to time and confomfort. Organization could understnd the travelers who wish to have quality services as compared to the normal services. Moreover, Malaysian Airlines could offer their services at higher cost as copared to other Airlines. Moreover, it is examined that there are different components, which might be enatiled by the organization to influnce a huge number of consumeresnamedcomfortableatmosphere,promptservices,andmoderntechnology (Parsons, Maclaran, and Chatzidakis, 2017). Moreover, the organization could practise innovative tool to accomplish their targeted objectives. Moreover, it is evaluated that training and development method is effective in retaining consumers, as it make capable to the employees to make positive relationship with others. It could also facilitate to the firm for making positive image among consumers by improving the service level by offering added value to the consumers. Moreover, the organization could also be capable to increase the loyalty rate of the consumers in least time and make reliable decision. Moreover, the organization could offer added value to their employee and make favourable image among consumer(Noor and Kumar, 2014). Slide 8:Consumer Behaviour of the organization`s targeted customers
The consumer behavior is identified as the selection of certain procedure such as selection, buy, use, and dispose of ideas about goods and services in gratifying their requirements and needs. Furthermore, it is examined that there are different acts of consumers in fundamental inspiring the consumer’s need. Slide 9: Cont…
Psychology needs to facilitate the organization in the understanding of different elements, which could affect consumer behavior. In addition, it considers different sources like service quality food, comfortable atmosphere, and hygienic environment. In addition, it is examined that the organization has mainly considered such factors for getting higher competitive benefits. In addition, it is illustrated that the Airlines industry is could be effective in obtaining a favorable result. In contrast to this, protection and security is the second step of the pyramid in which Malaysian Airlines concentrate on offering the safety and security for their consumers. Malaysian Airlines demonstrate the quality and comfort in plans flying. As a result, it could also be imperative in the attainment if the desired goal of the organization. It will also increase the possibilities of getting higher competitive benefits (Leong, et al., 2015). Slide 10:Cont… Love and belongingness could consider different elements such as friendship, intimacy, and family. In this, the organization needs to provide a facility for the organization to make the
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liaisonbetweencustomersandfirm.Therefore,MalaysianAirlinescouldcreatean opportunity for the firm in making higher productivity in limited resources. In this phase, an organization could be associated with recognition and appreciation. Further, there are creation components that are entailed as esteem such as higher and lower consumer needs (Kotler, Keller, Ancarani, & Costabile, 2014). In this method, lower consumers need to focus on the recognition and appreciated by different consumers. Moreover, an organization considerscertainfactorslikeindependence,achievement,freedom,andself-esteem. Therefore, the company should focus on different components to fill the self-esteem of consumers that will directly impact on the organizational productivity. Self-actualization could requisite to identify the growth of individual in accomplishments of the consumer’s need. Furthermore, this element is depended on self-need and individual drive of the consumer at a strong point. Malaysian Airline could focus on sustaining its consumers (Kim and Mauborgne, 2014). Slide 11:Marketing strategies
The marketing mix is imperative in increasing products and services and enables to make a favorable image of the organization in the market. It could consider different such as product, price, place, and promotion strategy. These are discussed below: Airlines industry drive to Malaysian Airlines, which offers different kinds of services like intercontinental, domestic, regional, international, and schedule services. In addition, it is also examined that the product strategy is effective in delivering their products and services with unique features to their consumers as compared to market players. This company offers a wide category of services to their consumers that could be effective in improving the customer's satisfaction (Carlsson-Wall, Kraus, and Lind, 2015). The price strategy leads to the organization to determine the prices for delivering their goods and services and make a reliable decision in the context of the organization’s product. Pricing strategy is also used for influencing a huge number of consumers and attracts their behavior towards consumer buying behavior. Premium price strategy is used by Malaysian Airline in which organization will deliver their services at a higher cost as compared to the Airlines industry (Calisir, Basak, and Calisir, 2016). This organization also delivers a higher amount of discount to its consumers for making a reliable decision (Bharti, Agrawal, and Sharma, 2015). Slide 12: Cont…
Place strategy is effective in selecting a suitable place for delivering products and services. It could also be effective for in getting a reliable result. This company is mainly concentrated in the region to offer their services. It is effective to influence consumers behavior about particular products and services (Amann, et al., 2014). Furthermore, it is examined that this company will accomplish and fulfill the needs of consumers, which could effective in obtaining a favorable outcome. Promotion is also imperative in a positive impact on consumer behavior with respect to purchase products and services. Malaysian Airlines could imply innovative technique and promote their goods and services as it would also lead to retain their consumers (Al-Jader and Sentosa, 2015).This company entails different sources to meet their goals like Facebook, YouTube, Google, Instagram, and Twitter. It could also assist to understand the experience and interest of consumers towards particular services and make a reliable decision in the context of current matter (AlBattat, and MatSom, 2014). This company will also use newsletter and magazines to increase their awareness of products and services (Acar and Puntoni, 2016). Slide 13: Marketing objectives (3 years)
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The following objectives will be accomplished to meet the organizational goal: •To increase revenue by entailing innovative tool by 40% in the upcoming 12 months •To enhance market share by implying a premium pricing strategy by 30% in the next 18 months •To increase consumer demand by using online modes by 20% in the next 6 months Slide 14: Marketing Mix action plans over this 3 year planning period
With respect to the above table, it can be illustrated that there are many activities that will be considered as marketing activities such as identification of the problem, market research and development, and product development. Others are creating pricing strategy, addressing placing strategy, develop sale promotion by considering different channels, and follow up. It is also addressed that Market research and development activity takes more time as compared to other marketing activities. Slide 15: Conclusion
As per the above discussion, it can be summarized that is an imperative tool for classifying their market on behalf of different factors like demographics, geographical, behavioral, and psychological factors. The main cause of selecting these causes is that organization desire to classify their goods and make higher competitive benefits. It can also be illustrated thattarget market analysis could be imperative to evaluate the market and identify the people to which organizationwilldelivertheirproductsandservices.Itcanbesummarizedthatthe organization could evaluate the factors that might affect theConsumer Behaviour for increasing the sale of the organization in the least time. It can also be illustrated that organization makes marketing goal as well as a marketing plan that will be accomplished in the upcoming 3 years and get higher competitive benefits.
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