Final

➢ INTRODUCTION The website is chosen for this assignment is www.jetstar.com is the official website of jet star airways which is one of the cheapest flight fares in the world and also successful. It’s subsidiary company of quanta’s airline www.jetstar.com

describe about jet star airways and gives all kind of

information related to the airline. It’ include following information

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Cheap flight fare

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Special holiday package

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Special cheap hotel for customer

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Ticket booking online

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Insurance

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Car for customer

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Insurance

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Travel info

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Special promotion flight fare

Jet star airways is a provides service for customer in low fare than other airlines in the world. And, now that’s become famous for low cost airline.

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Outline

The analysis of the assignment is divided into four parts: product positioning, segmentation, target markets, and competitive advantage. Analysis is then followed by reference and glossary respectively

➢ Anylysis Product positioning •

Reverent theory Product identification

“Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.’’(Kotler, Adam, Brown & Armstrong, 2006, p.253). A product includes physical object ,services, persons, places, organizations and ideas. In marketing term product offering can be discussed on three levels: core product, actual product and augmented product.(kotler et al., 2006, p.253256) There are many type of strategies for developing market strategy for their product

and

services.

Marketer

have

developed

several

product

classification scheme Consumer products: products bought by final consumer for personal consumption. Or household purpose. Marketer usually further classify these product based on how go about buying them. •

Convenience products:

consumer goods and services that customer

usually buys frequently immediately, and with the minimum of comparison and buying efforts. For examples toothpaste, magazines, •

Shopping products:

process of selection that customer purchase

goods & services, compares on the basis of suitability, quality, price and

style.

For

examples

major

appliances

television,

furniture,

clothing. •

Specialty products:

consumer goods and services with unique brand

quality, loyalty, special purchase effort. There are significant group of buyers is willing to make special effort. For examples luxury goods, such as Rolex watches or fine crystal.

•

Unsought product: normally, customer hasn’t felt that need. but customer bought by forces of supplier for examples life insurances, red cross blood donation.

• Application of theory of jetstar airways According to this theory, a jetstar airway is convenient product because it is available anywhere in the market. For examples. Ticket agent office, airport, online, travel agent, telephone reservation It is convenient product because the main reason is the low fare cost, any time you can booked ticket from online and also there are many office for purchased ticket for consumer. But the patent reason is the cheap flight then other flight company for example Auckland to gold coast just in 179$ Jetstar Airline Company is one of the lowest fare airline company in the world. It is subsidiary of Quantas airline. They provide services in many south Asian countries, U.S.A.

It operates an extensive domestic network

and regional and some international service Despite of low fare cost airline there is one promotion for attracting customer that without checking bagged of certain number of customer. And since, commencing operation there are only two minor incidents So, I choose this product because cheap flight, place available at any time, good standard of service, well organized domestic and international network. Extensive future prospect, broad marketing criteria, promotion schedule etc. In short, jetstar airways one of the great characteristics airline company and also one of the great airline company in term of cheaper flight.

•

Product image

Jetstar airline is highly demandable airline in the global market. It is one of the cheapest airlines in the world. Jetstar was started with Quantas having a

49 % stake in the airline. So, its Quantas subsidiary airline company. Most of the people businessman, holiday maker, is the travelling in this flight because of cheap fair. Tour operators also begin to set up with jetstar airlines. Competitor such as Singapore airlines, NZ air, Thai air, virgin blue etc. but those airline companies unable to get success in short time term of cheap fare airline. Now, there is no one company in the market that can put cheaper flight in the market. Jetstar succeed because focused in its core market. So that, jetstar airways scoops the world’s best low cost airline award for 2007. It was remarkable achievement for jetstar in just over 3 three years after establishment airline.

According to “world airline survey’’ jetstar airways is the one of the best low cost airlines in the world. The main reason was of jetstar airways focused on its core product.

➢ Segmentation: • Revenant theory of segmentation: Dividing market into smaller groups of buyers with separate needs, characteristics or behavior who require separate product or marketing mix. Different company has vary widely in the abilities to serve different segmentation. Four major segmentation bases for consumer markets will be: •

Geographic segmentation: dividing market into different segment based on location, region, countries, cities and town or neighborhoods.

•

Demographic segmentation: dividing the market into group based on demographical variable such as age, gender, family, lifestyle, income, education.

•

Psycho-graphic segmentation: psycho-graphic segmentation divides buyer into different grouped based on social class, lifestyle, or personality, characteristic

•

Behavior segmentation: dividing the market into gropes based on their knowledge, attitude, uses, benefit sought, and loyalty status.

• Application of theory of jetstar airways The Jetstar airway is the airlines company. We can put in the geographic segment based on theory of segmentation. In the geographic segment we can divided into nations, region, states. By that we can see how can get market by different location If we will see that the jetstar airways famous in the New Zealand, Australia, and some Asian countries. So, its affects in some countries where jetstar airlines flay. But Australia and New Zealand is that countries that there are jetstar are the most famous airways. In Australia, gold cost (Darwin international airport) is the most affected area for jetstar airways. Because of jetstar focused on this airport. So, jetstar airlines have more attraction for customer in Australia and New Zealand so, here are breakdown two segment one of nation and second one region Thus, the jetstar are famous in Australia and New Zealand. So, it is the mainly target countries. The main reason is that both countries have good facility number of flight. Austrian domestic market is the most profitable for jetstar.

• Possible alternative segment for the product identified The possible alternative segmentation is the psychographics segmentation. In this Segmentation it divides the market into different group based on social class, lifestyle, or personality characteristic Jetstar airways target people of all different social class, lifestyle or personality characteristic to support them. It is important that what education they have, income sources, occupational level, lifestyle. It also important that grope size large or small and by that they can measure that what capacity is the specific group. If they educated so understand what is good or worst. What kind of lifestyle they live. If they live luxurious life style so they can choose depend on their life style. What number of people group? If there are large group so may be more people become ready to travel. So So, I think psychographics segmentation is the another possibility way to identified product by grope based and social class

➢ Target market: • Relevant theory of target market: Target market is a set of buyers with common needs or characteristic that the company decides to serve. The evaluation of each market segment’s attractiveness and then deciding on one or more segment to enter. Once company has divided the market into segments, it must decide how many segment to target and which ones it will be able to serve. The target marketing organizations have different strategies which have to follow

•

Undifferentiated marketing: whereby the company targets the whole market with one offer. the company primarily focused on common needs rather that what each segment desires.

•

Differentiated marketing:

marketing in this situation the company

targets several different market segment and designs separate offer for each. For •

Concentrated marketing: here the company targets small shares of the large market

• Application of theory of jetstar airways: In the target market, there are different types of marketing system used to get market. This case shows target market for jetstar is the businessman and holidaymaker. As a Undifferentiated market jetstar airways developed policy that all of the customer will satisfy and become the largest segment in the market. The aim is to provide service at lower level of profit. Means service provides at any coast. So every customer afford to buy ticket

In differentiated marketing when we offer for new route in pick off season. That time aim of introduce in market we have to put promotion for introductory period of new product. For example buy one ticket get 25% off for other ticket.

Under concentrated marketing jetstar airways achieved strong market position. Customer are known for product of jetstar service and that time will be good position in the market.

• Possible alternative target market for the product identified and explained

Jetstar airways can apply differentiated type of policy which can be satisfied every people. That type of policy covers all of the area. Like that jetstar airways offer for any promotion. They can cover all of the area, location, and people. Differentiated method is also used to target market for jetstar. They can set their prices or put promotion. By that they can stand up such a part of the customer. So, by this method can get efficient market and stand up strong buyer.

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Competitive advantage:

• Relevant theory of comparative advantage An advantage over competitor gained by offering consumer greater value through lower prices or providing more benefits that justify higher prices (kotler et al., 2006, p.249). there are many type of competitive advantage includes the firm’s cost structure, product offering, distribution network and customer support. There are many type of competitive advantage cannot become stable. Every marketing organization can’t get opportunity of competitive advantage. The

reason for that unbalanced identified new potentials advantage. These company don’t expect to gain a single major permanent advantage

• Application of theory of jetstar airlines According competitive advantage company make impact on customer with quality product, jetstar is the f best and low cost airline. The main reason is for that cheaper rate, service good than another airline service. Instead of, there are changing the standard of service. There comes any new thing and they make profitable and also cheaper. It has cheaper rate than other airlines company and also standard of range service provide by jetstar airways

• Possible alternative competitive advantage for jet star

In the Possible alternative competitive advantage standard of service, food,(quality) is more important than price. When, customer go to buy anything that time customer give first response to quality. Customer built image about quality in their mind that is why customer buy this product. Jetstar airways is the best airlines company in the world and it has goo management is the main competitive advantage. And by that they carry out many sort of promotion at regular period.

In short, jetstar has well sated name in market. I think there are no any disadvantages in account of jetstar airways. Jetstar international and

national network is very highly profiled, good management staff. So, this is the main reason to succeed in the business

➢ Referencing 1. Kotler, P., Adam, S., Brown, L., Armstrong, G. (2006). Principal of marketing (3rd edition). (pp.1-28, 253-256). Australia: person education Australia.

2. www.worldairlineawards.com

3 www.marketingteacher.com

4. www.jetstar.com

5 http://www.Wikipedia.org/

➢ Glossary

(1)

marketing mix – the controllable set of activities that the firm uses to respond to the wants of its

target markets comprised of the 4 P’s of

marketing :product, price, place and promotion (2)

product – is anything that can be offered to market for attention, acquisition, use or consumption that might satisfy a want or need

(3)

Needs – refer to thing that person must have in order to survive. They are necessities of life

(4)

Core product – this is the problem solving service or the major benefit that the consumers really need or want when they buy a product.

(5)

Buyer - the person who makes actual purchase

(6)

Actual product -

a products parts staling, features, name, brand,

packaging which combine deliver to core product (7)

Agent – A wholesaler who represent

buyer or sellers on a more

permanents basis, performs only a few function and does not take title to goods (8)

Product quality – the ability of a product performs its function it’s includes the product overall reliability durability , precession ease operation and repair other value attributes

(9) Product image – the way consumers perceive an actual or potential product. (10). competitiveadvantage -

An advantage over competitor gained by

offering consumer greater value through lower prices or providing more benefits that justify higher prices