Strategic Marketing Management for Caribbean Airlines

Strategic Marketing
Management

Contents
INTRODUCTION.....................................................................................................................................3
LO 1............................................................................................................................................................3
Main types of marketing strategies..........................................................................................................3
Market analysis for the organization........................................................................................................4
Use market analysis to build a market strategy for the organization........................................................5
Strengths and weaknesses of Caribbean Airlines.....................................................................................5
LO 2............................................................................................................................................................6
Purpose of a marketing plan....................................................................................................................6
Benefits of developing sales and marketing plan.....................................................................................7
Marketing and operations plan for the company......................................................................................7
LO 3............................................................................................................................................................9
Buyer behavior in consumer market........................................................................................................9
Role of pricing, distribution and communication in the process of marketing planning........................10
Environmental factors affecting the consumer buying process..............................................................11
Criteria for successful marketing segmentation.....................................................................................11
Marketing approaches in planning and development of target marketing..............................................12
CONCLUSION........................................................................................................................................12
REFERENCES........................................................................................................................................14

INTRODUCTION
Strategic marketing management is a crucial component for a company that involves
implementing a company’s mission through structured processes in order to generate the most
out of its existing marketing plan. It is important because it helps the organization in gaining a
competitive advantage against competitors (Chernev, 2018). This further leads to the overall
profitability of the firm and also ensures an effective utilization of the resources so that sales
target is achieved. Organization chosen for this report is Caribbean Airlines, which is a state-
owned airline of the country. The company was founded in the year 2006 and is headquartered in
Piarco, Trinidad and Tobago. The report identifies different types of marketing strategies along
with a market analysis for the respective organization. It also identifies the strengths as well as
weaknesses for the company and the purpose of having a marketing plan. The report also
analyses the different environmental factors affecting the consumer buying process.
LO 1
Main types of marketing strategies
Different types of marketing strategies are as follows -
Theme based marketing: The main marketing strategy that is used by Caribbean
Airlines is positioning them as the authentically Caribbean. The overall Caribbean theme is
reflected in the catering level, uniforms and Livery. There is a corporate colour scheme and
different service offering that is associated with the friendly diverse warm and professional
culture of Caribbean (Caribbean Airlines adjust to compete in market, 2015).
Reasoning and the Caribbean culture is used for intersecting the company's Major
Principle that they are connecting creating and caring for Caribbean. From the senior
management to all their front level employees have to understand these principles and adopt
them in their day to day behaviour (Mathews, 2018).
Maintaining high quality of services is also a very important feature of Caribbean
Airlines that is being offered to their customers. It consists of maintaining contributing towards
the social Relation among countries culture and people. Caribbean airlines are taking benefits
from the Monopoly structure as these are one of the flag Carriers of national airline in both
Tobago and Trinidad.

It is operating both in Air Jamaica and Caribbean at same point of time.
There has been improvement by launching of new logos and new livery. They are offering some
additional facilities like champagne and red stripe beer. It is a Differentiation advantage for
Caribbean Airlines as compared to other competitors.
Market analysis for the organization
Market analysis of Caribbean:
The target market segment of Caribbean Airlines is becoming very hot with the changing period
of time as they are willing to cut their cost since January 2016 in order to focus on the lucrative
destinations (Campbell. and Clemons, 2017).
Caribbean Airlines is also having a dedication to help in building up of the economy in
this region by movement of goods both in coming and going out. They are making connectivity
with Caribbean to New York.
The Jamaica tourist board had a target of having 5 million visitors by the year 20213.84 million
in the year 2016. The recent indicators in the year 2017 already showed that this country is on
course of recording tourism revenue earnings that was more than 8% as compared to last year. If
there will be a achievement of target for the year 2021 then there will be a additional revenue and
direct job opportunities.
Segmentation: Caribbean Airlines have successfully segmented their market according
to the customer base by figuring out that customers are sometime swelling that flights are there
biggest risk both on financial and health condition. For this when Airlines made efforts to
introduce budget Airlines as a option and also to develop structure of relevant pricing so that
there can be advertising and development of new products according to requirement of their
targeted base of customers (Karagiannis, 2018).
Targeting: They are having preferences for people who are willing to travel through
budgeted airlines. They have also targeted market of the Google searches for this they have tied
up and made partnership with Google. In all the Google searches they are coming ahead as
compared to other sites like Yahoo.