Review questions - Assignment Example

Review Questions By Choose an airlines; foreign or domestic and then list the seven stages in the application of the marketing principles found in Chapter 1 of the Shaw textbook to this airline company. (Shaw, 2007).Qatar Airways1. The customerQatar Airways focuses on its customers. The company conducts market research to learn about the consumer demographics, needs, preferences, and purchasing habits (Qatar Airways, 2014).2. The marketing environmentGenerally, Qatar operates in a competitive environment.

Qatar is a politically stable country. However, poor economy hinders most people to use air transport. Socially, most people are reluctant to fly, believing it is for specific class of individuals. However, Qatar Airways has used technology to boost its ticketing process, thus improved service delivery.3. Strategy formulationQatar Airways conducts an analysis of its markets, and makes a series of decisions on how it will compete in these areas. This culminates in different objectives for the company to pursue.4. Product design and developmentThe company is keen on product design and development.

Products are designed to reflect the company’s brand values and meet customer needs. 5. Pricing and revenue managementThe company uses analytical techniques, market monitoring tools, and state-of-the-art revenue management system to manage its pricing in different markets. It ensures the right price at a given time.6. Distribution channel selection and controlThe company adopts global distribution systems. It has travel agents in different countries, as well as offices and branches in all its destinations.

It also conducts internet selling through its website.7. Selling, advertising and promotional policiesThe company advertises through the television, print, and radio. It sells through its travel agents and online medium. Promotion is through sponsoring of high profile events such as World Tourism Day, Tourism Council Summit, leading international sports events, among others (Qatar Airways, 2014).What is marketing myopia, and how can it be avoided? Marketing myopia is a strategy in advertising that only focuses on the company’s desire to sell specific goods and services at the expense of customer’s needs.

This can be avoided by focusing more on customer needs. A company should pay more attention to the shopping habits of customers in order to satisfy their needs (Armstrong & Kotler, 2013).What is customer-perceived value, and what role does it play in customer satisfaction? Customer-perceived value shows the value or success of a product based on whether the customers trust that the product can satisfy their needs. This plays a role in customer satisfaction such that when the customer-perceived value is high, the level of satisfaction of customers will also be high (Yang & Peterson, 2004).

Explain the roles of market segmentation, market targeting, differentiation, and positioning in implementing each strategy. Market segmentation plays the role of placing a company in a favourable position with regard to the needs of customers. Marketing targeting on the other hand helps a company to reach its customers easily, thus reducing the cost of marketing. Differentiation enables a company to create the perception among its target market that the products it offers are different and have an added value than those of other companies.

Positioning enables a company to influence its customer base in a positive way with regard to their purchase decisions. Positioning helps the messages of marketing from a company reach the target market, and ensures that the target customers take action (Armstrong & Kotler, 2013).Part 2: SWOT Analysis for Qatar AirwaysStrengths The company offers affordable tickets to its customers and is a cost leader. It has only three class of travel, charges all meals and beverages, and has a reduced allowance on luggage.

Therefore, it also cuts its cost of production. Additionally, this company has a good reputation, which helps it to have increased sales.Weaknesses The company offers only one class of travel. The tastes and preferences of customers might be different.Opportunities The company should ensure market entry in all world countries, in order to diversify. This way, the company can discover other beneficial businesses that it can adopt in these countries.Threats The lower prices that the company offers are a threat.

Some potential customers might perceive that the quality of the airline’s services is poor, hence cheap pricing.ReferencesArmstrong, G. & Kotler, P. (2013). Principles of Marketing. New York: Pearson.Qatar Airways (2014). Customer Service Commitment. Retrieved from http://www.qatarairways.com/us/en/customer-service-commitment.pageShaw, S. (2007). Airline Marketing and Management. New York: Ashgate Publishing Limited.Yang, Z. & Peterson, R. (2004). Customer Perceived Value, Satisfaction, and Loyalty: The Role of Switching Costs.

Psychology & Marketing, Vol. 21(10):799–822.