Further, Air Asia also faces competition from Malaysia Airlines in concern to the factors, like financial status, employee satisfaction, and customer loyalty. AirAsia was bought over by Tony Fernandes, the current chief executive officer of AirAsia from DRB-Hicom on 2nd December, 2001 (Soon, 2017). Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. 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). In this section of the blog, we shall understand AirAsias marketing with the help of its STP (segmentation, targeting, and positioning) strategy. Strengths. Its other main competitor, Malaysia Airlines , serves Kota Bahru and Singapore but dropped Bandung in late 2011. In order to stay ahead of the competition, the company needs to constantly invest in improving the additional facilities that make a difference to customers in todays times such as disposable in-flight meals, complimentary WiFi, entertainment facilities, and varied seat options. In Kuala Lumpur. Rising Fuel Costs 2. Marketing mix 7 Ps and SWOT analysis can improve the brand value of AirAsia and identify the strengths and weaknesses of AirAsia along with determining the future opportunities. Lets understand AirAsias competitors better with analysis. Some more of these improvement areas can be found through its SWOT analysis. The company has partnered with the worlds most famous maintenance providers to ensure its passengers safety. WebThe Competitors analysis of AirAsia Flying Low Cost with High Hopes looks at the direct and indirect competitors within the industry that it operates in. This tells us that AirAsia mainly needs to understand its customers a little better and provide them with the extra services they need. Tiger Airways. Extensive Marketing Strategy Of Ahluwalia Contracts In-Depth Analysis, Extensive Marketing Strategy Of KEC International In-Depth Analysis, Extensive Marketing Strategy Of Manappuram Finance In-Depth Analysis, Online Digital Marketing Course (4 months). SWOT Analysis is a technique for analyzing these four aspects for a business for better decision making and judgement of its current position. The 7 Ps of the model are price, product, promotion, place, people, process, and physical environment (Fine, 2017). *You can also browse our support articles here >. Air India to discontinue Vistara after merger, DS Group Partners with Lderach (Swiss Chocolate Maker), Castrols unveils a New Logo and a Refreshed Brand Identity. Below are the Strengths in the SWOT Analysis of Air Asia : 1. It has a fleet of over 70 aircrafts, which fly to over 120 destinations and operates over 400 flights daily from its hubs situated in Thailand, Malaysia and Indonesia (AirAsia, 2018). The organisational image is consistent and successful concerning the competition in the market. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Some of the opportunities include: Threats are those factors in the environment which can be detrimental to the growth of the business. Continue reading more about the brand/company. This has raised the threat of substitution for Air Asia, as in any case of customer dissatisfaction or unavailability of service, it will be easy for the passengers to shift to some other airline company. Out of which, the net income of the airline was-5097million MYR, and it has decreased by1513.76%. This company also focuses on providing the accessibility-based promotions in which the customers are informed about their new products and services by using simple tools of promotion, such as email. 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 Study for free with our range of university lectures! This may makes the industry very competitive. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. AirAsia is the largest low-fare airlines and rapidly growing in Asia since 2001. AirAsia Berhad also facilitates in operating businesses, related financial services and airline operation services. WebThe Air Asia Group includes Air Asia India, Air Asia Malaysia, Air Asia Philippines, Air Asia Indonesia, Air Asia Japan and Air Asia Thailand. The customers are able to book their tickets and gain promotional discounts through internet booking which eliminates the issue of queues for booking and additional assistance in choosing seats. In order to build buzz, cheap flight tickets are given out based on demand in the form of promotional schemes. The diversity results in critical issues and problems for AirAsia to manage and operate all its functions accordingly. Apart from that, AirAsia engages in popular promotions such as social media advertising, print advertisements, and simple but efficient billboard advertising. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Hence the airlines companies have more sales on individuals tickets rather than the groups of customers. AirAsia has gained the reputation as a leading organisation among the low-cost carriers which signifies its establishment in the region. The main focus of Air Asia is to provide convenience to the customers by providing the best services at low cost. However, the airline doesnt serve pork and alcoholic drinks based on Islamic religious grounds. AirAsia managed to become one of the most popular and profitable airline companies in the world by implementing visionary leadership and innovative business approach. In contrast to this, Jet Star Airways has more types of planes that are provided to its customers that includes A320, Bombardier Q300, A321 and Boeing 787 Dream Liner; whereas AirAsia offers only two types of planes to its customers, which are A330 and A320. The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. The acronym refers to political, economic, social and technological factors. Rise of Other LCCs in Market. The content on MBA Skool has been created for educational & academic purpose only. AirAsia uses various media platforms for the marketing and promotion of its products and services. Another reason for the threat of new entrants being low is government laws and regulations which pose restrictions on applying for permissions and license for operating an airline company. Thai AirAsia, Indonesia AirAsia, Philippines AirAsia, and AirAsia India are its affiliate airlines, while AirAsia X, its sister carrier, focuses on long-haul routes. It must have a good relation with hotels and tourism companies around Asia. 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. As compared to the services of the AirAsia,Malaysia Airlinesprovides better services and gain efficient customer satisfaction. The price offer by an airline company may not be fixed but it will depend on the time differences between the date of booking and flight. Air Asia is known for treating its employees and customers well. SilkAir 3.Tiger Airways Hence this concludes the Air Asia SWOT analysis. The verdict overturned the Malaysian Competition Commission (MyCC) ruling that AirAsia and Malaysia Airlines (MAS) had colluded to share the market. The competition will be fiercer if there is high number of competitor, this is a normal phenomenon. The company registered an annual turnover of USD 1.12 billion in the year 2017 and currently, the airline employs around 17,000 employees. 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. 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. As per the results of the survey, AirAsia has. Has Positioned itself as the major LCC in SE Asia. The introduction of ASEAN open skies policy facilitates opportunities for expansion and generalised airline regulations among the south-east countries of Asia which would benefit the organisation. The price will be cheaper if you book earlier. However, the company has employed more than20,000employees to manage its worldwide operations. The airline offers400destinations both local and international in25countries across the world. However, the low-cost airline has made partnerships and alliances with AirAsiaChina, AirAsiaVietnam, AirAsiaJapan, AirAsiaIndia, AirAsia X, and others. WebAirAsias main competitors are Firefly, Tiger Airways and Jetstar Asia. Thailand s market currently has just two local LCCs, Thai AirAsia and Nok Air. AirAsia has 5 employees at their 1 location and RM1.84 b in annual revenue in FY 2021. The Indian market is highly price-conscious. AirAsia focuses on providing guests with comfort through competent facilities that meet industry standards, as well as regular flights and secure point-to-point connectivity. The bargaining power of buyers is strong when the switching cost of airlines is low. Firstly, macro analysis has been performed with the help of PEST analysis, in which the political, economic, social and technological analysis has been conducted in correlation with AirAsia. This model is widely implemented by various organisations for the development of their strategies in the industry. It works towards providing the highest quality products by making technological advancement to reduce cost and enhance service levels. Other than that, hes a fun loving person. AirAsia is known for its low fares and no-frills policy. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. AirAsia has expanded its routes to different countries all around the world including Indonesia, China, Singapore and the Philippines. The first decision by the Malaysian Competition Appeal Tribunal since its inception more than four years ago caught the media and publics attention. Air Asia has expanded their product line by not only sales ticket but also offering tourism package which is offering hotel booking while booking the ticket. 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%. Air Asia uses direct sales methods, such as sales through the internet, call centres, and walk-in airport sales. Air Asia Competitors There are several brands in the market which are competing for the same set of customers. The company is observed to possess a significant reputation among the competitors, customers and the markets of the establishment. Liked our work? The purpose of this report is to examine the market environment for AirAsia, which has established its business in Malaysia. 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. Furthermore. Start-up Cost is high. AirAsia is involved in many Corporate Social Responsibility (CSR) activities so that it can contribute towards the welfare of the community. Air Asia has established itself as a strong competitor in the airline industry. Interested in learning more? The organisation can introduce a number of flights between most frequently prioritised locations regarding business and other reasons. AirAsia should expand into more countries, increase the market, and target new customers. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. 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. It is also because they are providing same service to the customer which is sent their customer to their destination by flight. Increasing globalisation has led to an increase in the lifestyle and financial condition of people. AirAsia X joins AirAsia Berhad and Thai AirAsia with stock listings. Today it is one of the most reputed Asia-based airline companies. The increasing cost, competitors, and limited international destinations are some of the main challenges. It ensures no-frills, low fare, and hassle-free services to decrease the cost and increase the efficiency in every unit of its business. Points to consider while selecting a topic for dissertation help. Management of costs: Air Asia is finding it immensely difficult to manage the fluctuations in costs of Furthermore, the renovation, development and reconditioning facility is also partnered with other organisations. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. There are several brands in the market which are competing for the same set of customers. Browse marketing analysis of more brands and companies similar to Air Asia. Interested in learning more? As there are no significant differences in the price compare to Air Asias competitor such as Tiger Airway and Jet Star as mentioned earlier, their customer do not need to spend more to shift to another airline. in the worldTherefore, in the increasingly competitive market, AirAsia flies to more number of destinations in comparison to its competitors. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. Diversified in product offered. WebStep 2 Identify the competitors of Airasia and group them based on the segments within the Transportation industry. This company also operates through affiliated airlines, such as Thai Air Asia, Indonesia Air Asia, Philippines Air Asia. It allows its customers to choose the services they want without compromising on quality. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. 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). WebEducational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.) Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler) Rich Dad, Poor Dad (Robert T. Kiyosaki) Air Asia Strategic Analysis The paper is prepared to analyse the strategic management of AirAsia which is Thank you very much Mr. Hitesh Bhasin for this SWOT analysis. The threats in the SWOT Analysis of Air Asia are as mentioned: 1. It has operations in over 25 countries and over 400 international and national destinations, 4. Here are the weaknesses in the Air Asia SWOT Analysis: 1.Not on too many routes as compared to market leaders 2.Stiff competition in its sector. Government regulations which target various aspects such as particular routes, landing permissions and share possession cause a drastic impact on the operations of the organisation. AirAsias mission is to be the best company, which ensures good relations between its management and employees, to make everyone fly with AirAsia by attaining the lowest cost, employ new technology to maintain highest quality products and enhance service levels. The major competitors for Air Asia as per the market analysis are Jet Star Airways, Tiger Airways, JAL Express, and Air Arabia. 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 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). Aircraft supplier could be the one who gaining most bargaining power as there are only two in operation, Boeing or Airbus. As AirAsia expanded its services, the company expanded its facilities, including travel Airasia had expanded its services provides to hotel booking as it already has its own hotel (tune hotel) which located not far away from its airport, and tour packages. The cheap flight tickets are given to the customers on the basis of the demand in the form of promotional schemes. 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). The threats for any business can be factors which can negatively impact its business. 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: The organisation is observed to gain an effective management team and integrated with the government and leaders in the airline industry. Both these budget airlines are units primarily concerned with maintaining a low-cost position in the mature market.. History of Garuda Airlines. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. The increasing fuel cost and the labor cost have amplified the overall expense of AirAsia. It was started in 1993, and the operations began in 1996. The goal of AirAsia is always looking to cut costs across the value chain from competitors to gain the greatest cost advantage. gained a smart rating of 54 whereas Malaysia Airlines has gained the rating of 85 which, signifies the contrast of both the airlines in terms of acceptance of the services and feedback by the customers (Holiday.My, 2018). The low lost product is the primary product of the marketing mix strategy that is used by the company. The overall services that are provided by Malaysia Airlines and AirAsia have a tremendous difference. Furthermore, Jet Star Airways has comparatively more number of payment options that are available for the convenience of the customers (Finder, 2018). This paper will examine the results of the strategic actions of AirAsia in the Malaysian domestic airline market. This strategy encourages the customers to choose Air Asia over any other airline company. It offered a new definition of affordable traveling with its Tagline Now Everyone Can Fly. The organisation can be witnessed to confront critical competition from the competitors who are facilitating similar costs and additional services and privileges which act as a drawback for the organisation (Man and Justine, 2005). Malindo will compete against AirAsia on all three routes. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. They may compete in term of their route offering that Airasia does not fly. They have been a major player in the low-fare airline industry and have connected over 88 countries together. Through its efficient STP, AirAsia has been able to successfully develop its marketing strategy and make a name for itself in the market. Itoffers a broad and innovative variety of distribution channels to ease the travelling and booking process. Thank you for reading this case study. Pacific (Cebu Air Inc, 2012), AirAsia (AirAsia, 2011), and JetStar Airways (Jetstar Airways, 2012) all reporting increase in revenues and recording profits over the previous year. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. Just over 790 million shares were sold, including 592.6 million new shares, at MYR1.25 per share (USD39 cents), making it the largest IPO in Malaysia The case involves the 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. The distribution channels for the tickets include different sources such as internet ticket booking, exclusive reservation, and sales offices along with the agents that are authorised by the company. Lets see how they compare amongst a few key indicators. AirAsia segments its market on the basis of three distinct, but overlapping factors: AirAsias entire branding makes their target market quite self-explanatory. Best regards from Kazakhstan.My name is Ainash. AirAsias marketing strategy has worked wonders for the company in communicating exactly what they wanted to the customers. Swot Analysis of AirAsia Berhad. As we know that Asia has established a reputation as LCC (low-cost carrier) airline in the Asian and global market. WebAirAsias top competitors are Air India , American Airlines, Emirates Airlines , British Airways , Delta Airlines, Tiger Airways, Silk Air, Jetstar Airways, and many others. Step 4 - Determine overall industry structure and test analysis of consistency. Lets see how they compare amongst a few key indicators. The other supplier such as fuel supplier, merchandise supplier, or food supplier may be depend on market condition. The company was observed to initiate low-cost tickets during the recession which assisted in establishing a prioritised reputation for the organisation. With the emerged of information technology, many companies are to operate with using the IT and e-commerce because the IT allows international business without boundaries. This is act as a barrier of entry for the competitor as there are high in capital requirement such as set up of headquarters, purchasing or hiring aircraft, appointment pilots and other staffs like air supervisor. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. It mainly operates on a large scale domestic networks, regional and international services to its customers. Besides @flyairasia and Today, it connects domestic and international flights to more than 165 destinations within 25 countries. Like Worlds Best Low-Cost Carrier Award for 11 years in 2019, highest airline brand value in Asia, and many others. 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Employed more than20,000employees to manage and operate all its functions accordingly this concludes the Asia! A name for itself in the low-fare airline industry and have connected over 88 countries together are those factors the!
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