¶ … Learning Journal
In the second week, we decided to carry out a marketing audit assignment for Singapore Airlines. The members were requested to carry out a research on the basic information as well as background on the company and the airlines industry in general.
The Areas to look at: competitors; services; suppliers; new product offerings; market process; how the company get its new customers as well as maintain the existing ones;the relationship management system;; integrated approach or separate; fulfillment management; does the company's mission statement reflects any element; such as product; customer oriented or market oriented as well as business links.
Websites, Journals, Newspapers
Wirtz, J & Heracleous (2009)Strategy and organization at Singapore Airlines: Achieving sustainable advantage through dual strategy
Source: Journal of Air Transport Management 15 (2009) 274 -- 279
This article describes the dual marketing strategy used by Singapore Airlines. It describes the reason as to why the airline has managed to consistently defeat its competitors in the rough environment. The article describes the concept of dual differentiation via service as well as innovation.
3.Glossary of terms
Integrated marketing Communications (IMC)
This is the coordination as well as the integration of all of the available tools of communication, sources within a given firm and avenues into a program which is seamless in order to maximize the impact on customer as well as other end users at a considerably minimal cost (Clow and Baack,2007).
4.Nominated tutorial questions & answers
Q1. Describe in your own words the process of marketing strategy.
1) Research as well as Situation analysis
2) investigate the market and product gap as well as whether it is a new product
3) Develop the main goals and objectives
4) Identify the target market/audience
5) Perform a SWOT analysis
6) Perform a Competitors analysis
7) Develop communication strategies
8) Media analysis
9) Budget analysis
10) Implementation as well as timeline
11) Control as well as evaluation
12) Recommendation
Q2. How can a business strategies and marketer realize that he or she has effectively identified and comprehended the current trends that are critical to the success of the company in the marketplace.
Via;
External analysis which includes
Environmental analysis (PETSEL analysis-Political, Environmental, Social, Economic and Legal)
Customer analysis (segmentation, unmet needs as well as motivations)
Competitor analysis
Analysis of customer analysis (size, profitability, growth, trends, distribution systems and cost structure).
Q3.How can one tell if a given marketing strategy is fruitful?
This is through internal analysis
Performance (sales, customer satisfaction, brand image, product portfolio)
Determinant of various strategic options ( past as well as current strategies)
ROI (Aaker and Mills, 2005)
5.Any creative websites, scanned articles, things that provide you with motivation or ideas for your audit http://mahdzan.com/papers/sia/SINGAPORE_AIRLINES.pdf
6.References
Aaker, D. & Mills, M. (2005). Strategic market management. Pacific Rim Edition, Wiley.
Clow, KE.; Baack, D. (2007). Integrated Advertising, Promotion, and Marketing Communications 3rd edition. Pearson Education. pp. 9 -- 10. ISBN 9780131866225.
Wirtz, J & Heracleous (2009)Strategy and organization at Singapore Airlines: Achieving sustainable advantage through dual strategy
Week 3 Corperate and business Strategy
Your ideas and reflective learning journal
Wirtz, J & Heracleous (2009)Strategy and organization at Singapore Airlines: Achieving sustainable advantage through dual strategy
Source: Journal of Air Transport Management 15 (2009) 274 -- 279
Business Level strategy
Singapore Airlines is poised/positioned as the premier carrier having high innovation levels as well as excellent service levels.The company has made a very strategic choice of providing priority to its profitability over its size. The internal practices within the organization like the continuous investment in its people as the rigorous design of their services are indicated by Heracleous and Wirtz (2008) as the main aspects of the firm's operationalization as well as sustenance of the company's positioning and the strategic choice.
In regard to the business level strategy, the company has succeeded to create aniche in the delivery of premium services to various demanding customers. They therefore achieved differentiation through this strategy. Heracleous and Wirtz (2008) suggested that this achievement is a great challenge to the Porter's proposition on differentiation as well as cost leadership via a core competency of an extremely cost effective excellence ion service that is intertwined with self-reinforcing system of activities and processes.
Doganis, R., 2006. The Airline Business, second ed. Routledge, Abingdon.
Source: Routledge,
Corporate level strategy
At the corporate level, Singapore Airlines employs a related diversification strategy . The airline has thirty six subsidiaries as well as associated companies as pointed out by Singapore Airlines (2008).The group includes Singapore Engineering Company, Singapore Airlines Cargo and Singapore terminal Services. As part of its international strategy, it joined the Star alliance.
Information technology has been shown to be key to growth and profitability of the company.They...
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