Analysis of the Easy Jet’s mission statement's significance to current circumstances
The mission statement of an organization can very crucial for a number of reasons. This can be a very effective tool for getting senior managers to talk about their differences and thrash out a common viewpoint. Mission statements are more usually an expression of a company's purpose and ambition. The mission statement of a company is a sort of company flag to rally round and a signpost for all stakeholders. Mission statement defines the values and behaviour standards for managers and stakeholders. A good mission statement is an influential document designed to give lucidity and evoke an emotional response. A mission statement must not be too far ahead of the current situation or it will be dismissed with 'If they think that's how we work around here, they are as crazy as I always thought they were'.2 Hence, one of the salient objectives of the mission statement of an organization is to spell out the purpose of the organization. A mission statement also guides a signpost for the stakeholders.
"To provide our customers with safe, good value, point-to-point air services. . To effect and to offer a consistent and reliable product and fares appealing to leisure and business markets on a range of European routes. To achieve this we will develop our people and establish lasting relationships with our suppliers.”"
It is evident from the mission statement of EasyJet that the company's target segments are the people who travel for pleasure and the business people who travel from one city or country to another city or country for business purposes. Segmentation of market can be defined as splitting the overall market into smaller submarkets that have more in common with one another than with the overall market. Subdividing the market helps a company identify the needs and satisfy those needs of individuals or originations within the chosen segments. Segmentation also permits a firm to concentrate on its strength against the weaknesses of its competitors.3 EasyJet has segmented the market in terms of usages of the services provided by it. For instance, the purpose of travelling can be business, pleasure etc. It is also apparent that Easyjet strives to provide reliable and point to point services providing value for money of its target customers. EasyJet also puts emphasis on development of its human resources. Last but not least, EasyJey intends to maintain a very good relationship with its suppliers.
Analysis of EasyJet's internal and external environment:
More than one hundred low cost and low fare airlines are now operating across the European continent. The success of the low-fare strategy is significantly dependent on the maintenance of a low cost base. Ryanair and EasyJet are maintaining high margins in spite of reducing yields through disciplined cost management. Lower costs are the only competitive advantage in the short-haul economy sector since air travel is effectively a commodity product.4 Apart from the full service airlines, EasyJet's main competitors are Ryan Air and Air Berlin.