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Southwest Airlines Program Formulation and Implementation just on Pricing and Product Strategies - Research Paper Example

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Southwest Airlines Program Formulation and Implementation just on Pricing and Product Strategies

The customers pay for the basic transportation services and do not enjoy extra services such as movies and first class attendance. According to Reed (2006), Southwest airlines do not incorporate direct flights to locales outside the US in its flight program. Southwest was successful in establishing affordable prices, which would subsequently define its product of low cost transport. Their perception was to diminish their operational costs and replicate this benefit to the consumers by lowering the flight fee (Reed, 2006).Southwest Airlines did not completely abandon the first class flights but have the consumers an option of choosing according to an individual’s convenience. There was the option of exemplary service, that is, first class or that of basic transportation. This strategy enabled them attest to the demands of a large proportion of clients who were not economically capable of accommodating the extra services of the airline (Capon and Hubert, 2007). Southwest is definitely an attractive brand due to incorporation of convenient fares to its clients. According to Kim, Lee and Lee (2005), brand affiliation between the purchaser and the brand is essential in determining the success of the brand. If the producers are able to foster a trustworthy relationship with the client, it will guarantee success of the corporation. One of the basic components of branding is a client’s commitment (Mcwen, 2004). The standard measurement of quality should be constant to create consistency and encourage

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loyalty from the client. Southwest Airlines is consistent in its low pricing policy for a considerable period and this has elevated confidence among clients (Kim, Lee & Lee, 2005).This was a calculative commitment that would benefit the airline and passengers economically. This policy can eventually draw new customers to the corporation’s client list. According to Mcwen (2004), one of the major ways to build a brand is to elevate the consumer’s acknowledgement of the product. This can guarantee that the consumer does not encounter surprises with the product upon its purchase. This will enable the client comprehend what the product entails and whether it is relative to his current economic situation. In addition, promotional offers and other incentives increase client appreciation of the product. According to Franzen and Moriarty (2009), Trust is also another instrumental factor in determining the appreciation of certain brands. It is essential for the consumer to intimately passionate about the product to assure success of the brand. The corporation can highlight this by considering the welfare of the customer while disseminating the product (Kim, Lee & Lee, 2005).The brand should generate an enduring emotional bond with the consumer to warrant continuous success of the firm. Pricing Methods Used and Price Adaption Strategies Pricing is the most recognizable form of strategy that numerous firms adopt to assure increase of consumers (Ferrel & Hartline, 2011). Pricing strategies of corporations have to be inclusive of the costs of the producers and the affordable capacity of consumers. According to Holden and Burton (2010), pricing strategies encompass several mechanisms that corporations can apply in attaining maximum

Summary

According to Capon and Hubert (2007), Southwest Airlines is a US Airline company that was founded in 1967 in Dallas, Texas. Currently, it is one of the swiftest growing airline corporations in America and has been existent for 35 years…
Author : princessmills
Southwest Airlines Program Formulation and Implementation just on Pricing and Product Strategies essay example
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