A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Knowing the increase of competition in the market, AirAsia applied the adaptation process (Hanan & Freeman, 1984) by expanding its operation to long haul services to various destinations. This marketing mix 7 Ps model is used to explain the marketing strategy of Air Asia. This reduces the chances of small or medium enterprises to enter this industry, and hence, the threat of new entrants for Air Asia is very low. As compared to industry leaders, they dont operate on as many routes, Merging with other low-cost airline companies, They can introduce more flights for popular and busy destinations, The increasing traffic from India as Indians prefer budget airlines. Porters five force analysis for Air Asia is as under: Bargaining power of Supplier Analysis of the bargaining power of suppliers is crucial for any organisation, as with the help of this, an organisation manages the capital and makes decisions regarding financial management (Thomas and Housden, 2017). Strict regulation and prioritisation by the UMNO (United Malays National Organisation) authorities to implement uniforms for the hostess. A recipient of numerous awards Air Asia has been consecutively designated as the leading low-cost carrier in the Asian region. Direct competitors market the same product to the same audience as you, while indirect competitors market the same product to a different audience. Although the two major suppliers of aeroplane structures are Airbus and Boeing, the suppliers of other facilities required in an aeroplane, for hospitality services including food and merchandise, are available in adequate amount in the market. The threats in the SWOT Analysis of Air Asia are as mentioned: 1. The brand colours of Air Asia are red and white, which represent determination along with passion, perfection, and positivity to serve customers high-quality services at low prices (Mele, Pels and Storbacka, 2015). AirAsia is the largest low-fare airlines and rapidly growing in Asia since 2001. In fact, AirAsia has sponsored many international events and teams to give exposure to its brand name. Points to consider while selecting a topic for dissertation help. Air Asia started with only 2 Boeing 737 300 series and started their first point-to-point flights. This strategy encourages the customers to choose Air Asia over any other airline company. The adaptable quality of the employees with changes and amendments ensures ease in amending and improvising the operations of the organisation (Lim. Since AirAsia is a low-cost airline and the Indian market is price-conscious, it would be a win-win situation for both. Lets see how they compare amongst a few key indicators. Many airline companies have entered the airline industry and they have made the market very competitive. AirAsia has also expanded its social media presence across other platforms including YouTube (@airasia), Twitter (@airasia), Weibo and WeChat. The airline has four subsidiaries including Air Asia X, Indonesia Air Asia X, Indonesia Air Asia and Thai Air Asia. WebFive steps to successful analysis of. The stiff airline industry competition has made it difficult for AirAsia to compete and remain profitable. Apart from that, AirAsia engages in popular promotions such as social media advertising, print advertisements, and simple but efficient billboard advertising. The Threat of New Entrants In the business of airlines, the loyalty of the customers is found to be weak. Do essay writing needs professional writers? The operational region of AirAsia comprises different countries which introduce diversity in religion, language, culture and approaches. In this section of the blog, we shall understand AirAsias marketing with the help of its STP (segmentation, targeting, and positioning) strategy. AirAsia X joins AirAsia Berhad and Thai AirAsia with stock listings. This increases the probability of people to avail of airline services frequently. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. Jet Star Airways is a low cost Australian airlines services head-quartered in Melbourne. Air Asia is one of the leading brands in the airlines sector. They may compete in term of their route offering that Airasia does not fly. The approach towards providing the lowest costs results into a low opportunity for gaining significant profits as the company abides by its approach of maintaining lowest flight costs. Relative Price. WebAnalysis for Cost Leadership Strategy and Core. DRB-HICOM, a government conglomerate laid the foundation of AirAsia in 1993 and it became operational on Nov 18, 1996. Similar service provided among every airline company so the competitive may be fierce. The article below lists the Air Asia SWOT, competitors and includes its target market, segmentation, positioning & USP. The Indian market is highly price-conscious. Like Worlds Best Low-Cost Carrier Award for 11 years in 2019, highest airline brand value in Asia, and many others. Below are the Strengths in the SWOT Analysis of Air Asia : 1. Orient Thai previously competed as a third LCC domestically but has essentially withdrawn from this market, initially shutting its LCC brand One-Two-Go in 2008. The two closest competitors that are considered against AirAsia include Jet Star Airways and Malaysia Airlines (AirAsia, 2018). There are a lot of operations that are conducted by the company as it is spread across 25 countries in more than 160 destinations. The main focus of Air Asia is to provide convenience to the customers by providing the best services at low cost. There are several brands in the market which are competing for the same set of customers. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. The important thing the buyers look for is the fly to destination which shows the strong bargaining power of buyers. But the company is only operating its business only in 25 countries. The basic product strategy in its marketing mix is its low-cost air services. Another important strategy that Air Asia will consider enhancing is improving Information Technology (IT) services in the company, as well as in the aeroplanes. AirAsia is known for its low fares and no-frills policy. Hence this concludes the Air Asia SWOT analysis. But in 1993, Air Asia was established to finally connect Asia like no other airline company. Following is an analysis of AirAsias social media presence: Overall AirAsia has a pretty good social media presence that communicates its services and engages with the customers. Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. The company is observed to possess a significant reputation among the competitors, customers and the markets of the establishment. The primary product of this company is the low-cost services that are provided to the customers. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. The new handles will reflect AirAsia's brand identity and values, and make it easier for customers to connect with the airline and the super app on social media. Its routes include both domestic and international flights. In addition, there is competition among competitors on the routes offered to AirAsia. The Essay Writing ExpertsUK Essay Experts. Air Asia Revenue : RM 10,638 million (FY 2018) (9.6% increase YoY) RM 9,710 million (FY 2017) Competitive Analysis of Air Asia SWOT PESTLE The SWOT analysis of Air Asia is presented below: Air Asia is a low-cost airline headquartered in Malaysia. Discover AirAsia alternatives or similar companies to benchmark and competitors' market analysis. Thai AirAsia faces new competitive threats in Thai Lion and Thai VietJet. Step 3- Assess the Porter Five Forces in relation to the industry and assess which forces are strong and which forces are weak. in the worldTherefore, in the increasingly competitive market, AirAsia flies to more number of destinations in comparison to its competitors. Below are the top 3 competitors of Air Asia: 1. In this strategy, the company uses activities such as inbound logistics, where all the aircrafts are of one type; hence, reducing the maintenance cost, scheduling cost, and cost of managing inventory. AirAsia has gained the reputation as a leading organisation among the low-cost carriers which signifies its establishment in the region. Airlines allowed to increase ight operations, with strict Maximising revenue in a reduced capacity/ competition 2020 environment 14 74,642 mil 45-60% of 2019 85% of 2019 The bargaining power of buyers is strong because most of the customers for Airlines Company are individual travellers instead of travel in group. It was started in 1993, and the operations began in 1996. Currently, the priority for the company is to maintain the fundamental principle of keeping travel fair as low as possible so that people with weak financial status can also afford to travel in flights. Technology is a major component of organisational structure which is completely analysed on the basis of IT framework of Airasia in particular region. AirAsia launched AirAsia Berhad in 2001, which provides air transportation services, particularly in Malaysia. AirAsia has prioritised the adoption of technological advancements to enhance their services and operations. The branding of the logo of Air Asia is essential for them. They may compete in term of their route offering that Airasia does not fly. The portions of income of an individual earns is the factors because when the portion is high, the more customers will look for cheaper price, hence the bargaining power of buyers will be strong. Some factors like increased competitor activity, changing government policies, alternate products or services etc. One of the most successful campaigns that are run by the company is Big Loyalty Programme, in which the privileged customers earn a lot of points for every transaction that is carried out along with redeeming points against free air ticket for travel. Air Asia is known for treating its employees and customers well. AirAsia is a global airline with operations in more than 160 destinations in 25 countries. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Do check out our Free Digital Marketing Masterclass by Karan Shah. The created segments consists of consumers who share similar interests, requirements and locations. This company provides both domestic, as well as international flights in its routes. The airline which was set up in the year 1993 started operations in the year 1996 and is thus a fairly new airline. Itoffers a broad and innovative variety of distribution channels to ease the travelling and booking process. Hi, I am an MBA and the CEO of Marketing91. The company cannot control a number of charges and costs which are regulated by government and airline authorities which may result in a significant loss in profits and consistency of the organisation. Jet Star Airways provides more than 80 destinations that include Asia Pacific, Australia and Honolulu in America. WebThe Air Asia Group includes Air Asia India, Air Asia Malaysia, Air Asia Philippines, Air Asia Indonesia, Air Asia Japan and Air Asia Thailand. Interested in learning more? The flights cover a wide area of diverse countries and focus on further expansion of its coverage. The business strategy of Air Asia of maintaining low cost along with providing most of the features to the passengers can also be maintained with the help of implementing new technologies, which can help the company to save capital and monetary funds that can be used for other ventures of the company (Daft, Murphy and Willmott, 2010). The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. The large fleet size and the high number of destinations help the company to diversify its resources and amplify its target market. The Marketing mix refers to the set of actions and tactics which a company uses to promote its brand. Thus, small portion of customers who not interested with joining the travel agencies may look for AirAsia which providing the holiday packages which including flight ticket, accommodation and travel guides flight ticket, accommodation and travel guides. Webprice wars with competitors, taxes and duty imposed on the firms products. For example, they had a #responsibletraveller campaign on Instagram. This has been possible through excellent brand positioning. In 2002, AirAsia became the first airline company in the region that allowed passengers with the facility to pay for their bookings by using credit card. As increasing in the number of airline competitor such as Jet Star and Tiger Airways which are also promote low cost fare may decrease the shifting cost of the customer lead to decrease of Air Asias customer loyalty. In contrast to this, AirAsia is offering more than 130 destinations that include the Middle East, Honolulu and the Asia Pacific. High Switching Cost. The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. Given the current situation, in-flight experience, especially hygiene matters a lot to customers so AirAsia should heavily market its hospitality and put customers at ease in availing their services. The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. Rising Fuel Costs 2. There are many services that are provided to the employees of the organisation, such as training and motivational lectures. Now, the brand should amplify its marketing and promotional campaigns to attract the Indian price-conscious market. WebAirAsia Competitors Specify up to 10 symbols: WH REGN XHR NVO VRTX HOG IHG rprx Sophisticated investors, who have witnessed many market ups and downs, frequently Learn how your comment data is processed. AirAsia can be accounted to lack financial assistance from organisations or sponsors which consequently minimise the investment opportunities for the organisation (Abdullah, 2010). Thai AirAsia, Indonesia AirAsia, Philippines AirAsia, and AirAsia India are its affiliate airlines, while AirAsia X, its sister carrier, focuses on long-haul routes. Air India, Emirates, and many other Asian airlines have also started following the low-cost carrier strategy to attract market share. Furthermore, competitive analysis has also been conducted for AirAsia in this report along with marketing mix 7 Ps and SWOT analysis. The airline claims No Admin Fee, but all the services provided by AirAsia are not free, it has some fees for some services. Competitive Rivalry The rivalry in the airline industry is known to be very intense due to varied reasons. Use fundamental and technical analysis of AirAsia Group and its peers Please click here if you are not redirected within a few seconds. AirAsia has been facing the competition with the varied existing low fare airlines that include Jet Star Airways, Tiger Airways, JAL Express and Air Arabia. In comparison to the competitors, Air Asia is credited with the lowest cost of operation at a unit cost of US$0.023 per available seat kilometer (ASK) and a passenger breakeven load factor of 52%. Furthermore, Jet Star Airways has comparatively more number of payment options that are available for the convenience of the customers (Finder, 2018). From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. AirAsia is headquartered in Malaysia and provides transportation services to its passengers along with cargo and courier services. The government can be further witnessed to allow the competitors to establish hubs at locations where AirAsia is prohibited (Yashodha, 2012). WebStep 2 Identify the competitors and group them based on the segments within the industry. The marketing mixs 7 Ps model is a marketing strategy tool that is used in a business in order to gain the feedback from the market in relation to marketing objectives. AirAsia focuses on delivering accessible promotions, in which customers are aware of new product offers with minimal company intervention through simple tools such as emails. Through its efficient STP, AirAsia has been able to successfully develop its marketing strategy and make a name for itself in the market. This results in significant reduction in the cost as the commission fee paid to travel agents are saved and can be used to maintain the facilities and services of the company (Pinto et al., 2015). To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! The airline brand should exploit these circumstances. As there are approximately 59 low cost airline operating in the industry,it is always easily for the customer to look for alternative. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. Tony Fernandes was recognised as for his outstanding work in AirAsia, and he was awarded by the International Herald Tribute Award and he also became the Malaysian CEO of the year in 2003 (Roy, 2014). Their 5 main operational hubs are Singapore, Indonesia, Japan, Malaysia, and Thailand. Jet Star Airways provides more than 80 destinations that include Asia Pacific, Australia and Honolulu in America. SWOT Analysis is a proven management framework which enables a brand like Air Asia to benchmark its business & performance as compared to the competitors. As reported in The Edge Markets in 2019, Khazanahs managing director Datuk Shahril Redza Ridzuan claimed that the airlines CASK was only 15 per cent to 20 per cent higher than AirAsia and was in fact lower than regional airlines such as Singapore Airlines, Thai Airways and Cathay Pacific. Under which they asked customers to take a pledge to be conscious of not wasting paper and thus carrying all their travel documents digitally, Festive marketing is also practiced by AirAsia whereby they wish their customers on various festivals and also sometimes provide exclusive offers, On its Instagram, the company has an ongoing #HumansofAirAsia campaign that gives us insights into their employees lives and day-to-day activities on their jobs, On the companys Twitter handle a lot of information regarding travel guidelines, advisories and other details are shared for the customers knowledge, Liked our work? The goal of AirAsia is always looking to cut costs across the value chain from competitors to gain the greatest cost advantage. SIA introduced 2 budget airlines; ValuAir and Tiger Airways.. Air Asia can also implement a cost leadership business strategy. The content on MBA Skool has been created for educational & academic purpose only. SWOT analysis of Air Asia analyses the brand by its strengths, weaknesses, opportunities & threats. Similarity of product. These include a 36% increase in passengers carried by AirAsia Malaysia, 79% increase in passengers carried by AirAsia India and an increase of 65% of passengers carried by AirAsia Thailand. Following are the opportunities in Air Asia SWOT Analysis: 1. It constantly delivers on this promise of affordability, It is extremely difficult to keep costs as low as possible due to fluctuations in fuel prices and increases in service costs, AirAsia does not have its own MRO facility, Cut-throat competition in its sector. Following is the SWOT analysis of AirAsia: Lastly, lets take a look at AirAsias social media marketing presence as digital marketing is also a very important part of any companys marketing strategy. Hence the airlines companies have more sales on individuals tickets rather than the groups of customers. They truly contribute their lifelong learning in allowing students to succeed in their academics. Free resources to assist you with your university studies! The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. Due to competitive in airline industry and protects on national airline, MAS which facing losses in these year, it is quite difficult to apply for licensing and permit for operating airline company. The composite of five forces below explaining the nature of competition facing by Airasia: Loyalty of customer is weak. WebAirAsia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ The importance of pricing strategy is to know the strategies that are used in the market and to analyse the rivals that are present for Air Asia n the airline industry (Shaw, 2016). In the AirAsia case study, we shall decode AirAsias marketing strategy, marketing mix, SWOT analysis, social media presence, and also analyze its competitors. We're here to answer any questions you have about our services. However, the company has employed more than20,000employees to manage its worldwide operations. The threats for any business can be factors which can negatively impact its business. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. In the context of this fact, the loyalty of the customers of Air Asia has been decreased because of the increasing competitors of Air Asia in the airlines, such as Jet Star and Tiger Airways. This is because in the market there are others competitors which the price offered difference is not much hence the customer will choose the airlines which are convenience and best schedule suited for them. Some more of these improvement areas can be found through its SWOT analysis. AirAsia uses anchor pricing to offer incredibly low rates on its services and fares, enticing consumers to consider traveling with the airline. AirAsia is one of the largest low fare airline companies in Asia, which has been expanding its routes to different countries since 2001. Moreover, it also provides numerous opportunities to travel and explore overseas, developing skills for new cultures. Our academic experts are ready and waiting to assist with any writing project you may have. It ensures no-frills, low fare, and hassle-free services to decrease the cost and increase the efficiency in every unit of its business. The major issue with maintaining low ticket price is the increasing competition in the airline industry. No plagiarism, guaranteed! Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. In the increasing demand of the airline services, there is a tough competition in the airline industry because of the varied numbers of the competitors that are providing the airline services. Sponsorship is also one of the great marketing tools. The competitions advantage is the centre of a companys performance to face a direct competition. Tiger Airways. The company constantly invests in improving the facilities it provides to the passengers and has introduced facilities, such as in-flight meals, complimentary WiFi, entertainment facilities such as separate televisions for passengers, and seat options including flatbeds (Abdullah, Chew and Hamid, 2017). Increasing globalisation has led to an increase in the lifestyle and financial condition of people. Study for free with our range of university lectures! These are people ranging from those who could not afford to fly previously, to corporate business employees whose employers are looking to fly them while cutting costs. They hence practice geographic segmentation by focusing their services primarily in Asia, Demographic segmentation- Being a low-cost airline, they cater to people in the low to medium income group, Psychographic segmentation- Their main customer is the cost-conscious traveler, AirAsia provides service packages to its customers at a very reasonable charge that is affordable to the customers in comparison to JetStar Airlines, JetStar is providing more payment options or gateways to its customers, AirAsia provides services to 130 destinations as compared to JetStar which provides services only to 80 destinations, Malaysia Airlines generates 113% of AirAsias revenue, Malaysia Airlines also has fewer employees, at 7,159 compared to AirAsias 20,000, AirAsia is the low-cost airline leader in the Asian market, The company has subsidiaries in Indonesia, Thailand, the Philippines, and Japan, It boasts a fleet of nearly 300 aircrafts, AirAsias positioning is steady and consistent in being a low-cost airline. Rising Labour Costs 3. The approach towards technology assists the organisation in minimising risks and problems and facilitating enhancement in customer services. The microenvironmental analysis for any company or organisation is performed using Porters Five force model. See insights on AirAsia including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. And thus Indians meet their target requirements perfectly, Government charges and costs that are not in the control of the company may lead to severe losses in the future, With dynamic management and other operational costs, it becomes difficult to manage low-cost flights, AirAsia has 62.K followers on Instagram, 93.5K followers on Twitter, and 12M likes on Facebook, They post regularly on their pages, at least a couple of times a week, and maintain this consistency, They post a variety of content that aims at staying relevant in the minds of the customers, Their main strategy seems to be posting about exotic travel destinations with Call-to-Action, encouraging customers to avail their services in exploring these locations, The company also posts environmentally friendly content to echo the ethos of its brand. Required fields are marked *. 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