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Factors That Influence The Growth Of Air Cargo In The Future

2917 words - 12 pages

IntroductionMarketing is a vital part of any business and is an integral component of selling any products or services. Whether the business is small or big, marketing is a part of the business as it is fast becoming the most effective way to improve their overall performance to compete in today's global economy. Most successful companies have learned by trial and error to cater to the needs of their customers, providing quality goods and services, providing good customer service that will strengthen continued sales and profits. Therefore a specialized team that is highly trained to analyze customer needs and carefully develop a strategy to market their goods and services is crucial. Companies must be customer oriented, taking into account their customer's needs by focusing on creating goods and services that will outshine their competition, conducting research when attempting to identify specific requirements of both existing and potential customers, maintain open lines of communication between a company and its customers to ensure the success of any marketing method.By providing the correct marketing mix of goods and services, it can make a difference on a company's success or failure. There are many variables such as adjusting prices or adding features to products or services that could be used to target potential customers, but the key is giving customers exactly what they want by delivering quality products or services at the right price with good customer service. Creating that bond and developing a culture to let the customer know that he or she is part of the company's family will create customer loyalty. Over time, customers become loyal and will buy again-and-again as well as provide free word-of-mouth advertising undoubtedly resulting in increased profits. This paper will examine the marketing mix and give examples of the marketing mix as it pertains to the airline industry.Factors that affect demand for passenger trafficThe needs and values of passenger nowadays have become a focal point in designing differential marketing strategies to ensure customer loyalty and capture market shares. The traditional four 'P' of marketing mix (McCarthy 1960), Product, Price, Promotion and Place are controllable marketing factors used in the airline industry to incite a customer's curiosity and target the demand for passenger traffic. But uncontrollable variables such as cultural and social difference, political and regulatory environment, economic environment, existing competitive structure, resources and objectives of the company will affect the actions and strategies of airlines in reaching their goals, as it will be tougher to compete in the near future because of multinational alliances among airlines. Marketing strategies have to be developed to initiate core and distinctive competitiveness, this is where the seven 'P' model by Bitner and Booms (1981) is more useful for the service industry as the extra three 'P'; People, Process, Physical...

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