Our academic experts are ready and waiting to assist with any writing project you may have. Rise of Other LCCs in Market. Furthermore, the company wants to serve the 3 billion people who are currently out of connectivity and cannot afford high fares. The dynamic oil prices and service costs result into criticality for maintaining the low-cost flights as the organisation focuses on facilitating the most affordable costs to its customers (Daft, Murphy and Willmott, 2010). Along with these improvements, if AirAsia continues to deliver to its target market effectively, it will surely maintain its differentiated position in the industry. The basic product strategy in its marketing mix is its low-cost air services. Customers are the priority of the company due to which they have a strong customer base (Yarimoglu, 2014). The company makes use of robust enterprise resource planning system, which allows it to successfully maintain process integrity, speeds up reporting, and data retrieval process. Back in the 1900s Thai National Airlines was the only airline that could fly in the main routes of Bangkok Chiang Mai with non-stop flights. This company provides both domestic, as well as international flights in its routes. 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. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Lets take a look at AirAsias marketing mix. Airasia are now facing competition with approximately 59 low fares airline such as JAL Express, Tiger Airways, Air Arabia, JetStar Airways, and etc. The airline claims No Admin Fee, but all the services provided by AirAsia are not free, it has some fees for some services. It is also because they are providing same service to the customer which is sent their customer to their destination by flight. The approach towards technology assists the organisation in minimising risks and problems and facilitating enhancement in customer services. Strict regulation and prioritisation by the UMNO (United Malays National Organisation) authorities to implement uniforms for the hostess. Very interesting and informative. This pricing strategy helps the company to create a base for pricing all the operations that are carried by them. The goal of AirAsia is always looking to cut costs across the value chain from competitors to gain the greatest cost advantage. Do check. Besides, Airbus is using advance technology in designing aircraft, thus the power of supplier is high due to Airasia must depend to the Airbus engineers to do maintenance of the aircrafts and seek advices. Like Manchester United, Queens Park Ranger, Jamshedpur FC, Singapore national football team, Malaysia national football team, and others. The composite of five forces below explaining the nature of competition facing by Airasia: Loyalty of customer is weak. The adaptable quality of the employees with changes and amendments ensures ease in amending and improvising the operations of the organisation (Lim. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Rising Labour Costs 3. This paper will examine the results of the strategic actions of AirAsia in the Malaysian domestic airline market. February 2, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. Ease to switching. Today, well discuss the swot analysis of AirAsia. Moreover, it also provides numerous opportunities to travel and explore overseas, developing skills for new cultures. Before we get started, lets get to know the company a little more. It offered a new definition of affordable traveling with its Tagline Now Everyone Can Fly. And thus Indians meet their target requirements perfectly, Government charges and costs that are not in the control of the company may lead to severe losses in the future, With dynamic management and other operational costs, it becomes difficult to manage low-cost flights, AirAsia has 62.K followers on Instagram, 93.5K followers on Twitter, and 12M likes on Facebook, They post regularly on their pages, at least a couple of times a week, and maintain this consistency, They post a variety of content that aims at staying relevant in the minds of the customers, Their main strategy seems to be posting about exotic travel destinations with Call-to-Action, encouraging customers to avail their services in exploring these locations, The company also posts environmentally friendly content to echo the ethos of its brand. Physical evidence encompasses the ways in which the company can maintain their position in the industry. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. 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 It is the largest airline company based on the concept of the Low-Cost Carrier (LCC) (Zhang et al., 2017). Many airline companies have entered the airline industry and they have made the market very competitive. Competitiveness Points of Air Asia. However, the low-cost pricing strategy has allowed the company to target price-conscious customers in the Asian market. The PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the brand. Air Asia has established itself as a strong competitor in the airline industry. Furthermore, competitive analysis has also been conducted for AirAsia in this report along with marketing mix 7 Ps and SWOT analysis. Following are the opportunities in Air Asia SWOT Analysis: 1. Considering the competitive characteristic of Malaysian airline market, AirAsia has comparatively gained significant customer attention from the customers due to its affordable tickets and additional services. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The new handles will reflect AirAsia's brand identity and values, and make it easier for customers to connect with the airline and the super app on social media. The two closest competitors that are considered against AirAsia include Jet Star Airways and Malaysia Airlines (AirAsia, 2018). They have official handles on all major platforms but for the purposes of this segment, we shall take a look at the main 3, which are Instagram, Twitter, and Facebook. In addition to this, the IT management of AirAsia adopts precise and effective approaches to ensuring the convenience of its customers (AIRASIA.COM, 2017). Kamarudin Meranun and Tony Fernandes bought the airline on Sep 08, 2001. WebAirasia are now facing competition with approximately 59 low fares airline such as JAL Express, Tiger Airways, Air Arabia, JetStar Airways, and etc. UNICEF collaborated with AirAsia to raise $ 128 million for the people who were affected by the earthquake in Haiti. Some more of these improvement areas can be found through its SWOT analysis. Air Asia Competitor analysis In order to compete with AirAsia,. Some factors like increased competitor activity, changing government policies, alternate products or services etc. The AirAsia Big Loyalty Program is one of the companys most popular campaigns, in which affluent customers win BIG points for any purchase they make and redeem those points for free airline tickets. Do essay writing needs professional writers? As the rivalry is strong, Airasia may constant in price reduction to compete with them. This comes with a lot of competition. Consistent complaints concerning services and facilities may result in a downfall for the organisational reputation and prioritisation. AirAsia provides service packages to its customers at a very reasonable charge that is affordable to the customers in comparison to JetStar Airlines Air India, Emirates, and many other Asian airlines have also started following the low-cost carrier strategy to attract market share. They should be used as a reference paper for further research. Browse marketing analysis of more brands and companies similar to Air Asia. The competitions are depending on the services provided and the suitability of the flight time for the customer. The created segments consists of consumers who share similar interests, requirements and locations. It must have a good relation with hotels and tourism companies around Asia. AirAsia was bought over by Tony Fernandes, the current chief executive officer of AirAsia from DRB-Hicom on 2nd December, 2001 (Soon, 2017). To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! 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 addition, rates are determined by the class of flight, airline load factors, travel dates and days, and competitor pricing in the airline industry. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors. They have achieved effective targeting to this segment by making their brand synonymous with low-cost services. They have a vast network of operations around the world, flying domestically and internationally. 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. 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). He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. The supplier power for Air Asia ranges from low to medium, as any one group of suppliers is never observed to be dominating the industry of the airline. Hence the airlines companies have more sales on individuals tickets rather than the groups of customers. Required fields are marked *. The check-in services in Malaysia Airlines are very convenient and comfortable as compared to AirAsia. Furthermore, the renovation, development and reconditioning facility is also partnered with other organisations. (vitag.Init = window.vitag.Init || []).push(function () { viAPItag.display("vi_23289101301") }). Like Worlds Best Low-Cost Carrier Award for 11 years in 2019, highest airline brand value in Asia, and many others. Orient Thai previously competed as a third LCC domestically but has essentially withdrawn from this market, initially shutting its LCC brand One-Two-Go in 2008. However, there is also a barrier to the establishment of the new entrant in the airlines, which is the high start-up cost that is required for the airline services. Interested in learning more? The increasing traffic from India and Indians prefer budget airlines as they are cost conscious 2. AirAsia is a low-cost multinational Malaysian airline. Get best assignment helper in Malaysia as offered by Student Life Saviour to ensure best grades in all Malaysian assignments. This may makes the industry very competitive. The strengths of Air Asia looks at the key aspects of its business which gives it competitive advantage in the market. Jetstar Airways 2. 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). The cheap flight tickets are given to the customers on the basis of the demand in the form of promotional schemes. 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 organisation can introduce a number of flights between most frequently prioritised locations regarding business and other reasons. It works towards providing the highest quality products by making technological advancement to reduce cost and enhance service levels. 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. 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. The purpose of this report is to examine the market environment for AirAsia, which has established its business in Malaysia. The headquarter of the company is in Kuala Lumpur International Airport, Sepang, Selangor,Malaysia. The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. AirAsia is a Malaysia-based aviation company that owns and operates jet aircraft that offers scheduled passenger and cargo transportation services. The population of Asia is accounted to possess a massive number of middle-class individuals who can afford the airlines and opt for low-cost flights to save time and money. That was AirAsias 4Ps mix, detailing each strategy and its purpose. This tells us that AirAsia mainly needs to understand its customers a little better and provide them with the extra services they need. If you did, be sure to share, comment, and let us know! In the context of this fact, the loyalty of the customers of Air Asia has been decreased because of the increasing competitors of Air Asia in the airlines, such as Jet Star and Tiger Airways. It allows its customers to choose the services they want without compromising on quality. The overall services that are provided by Malaysia Airlines and AirAsia have a tremendous difference. The airline company has already got a subsidiary AirAsia India for the local market. In this context, Air Asia will be focusing on the use of the strategy of service innovation as it is the best strategy to effectively implement the factor of providing new and enhanced services to passengers at low cost. Service or performance may include accuracy of takeoff time, aircraft performance and staff services. Discover AirAsia alternatives or similar companies to benchmark and competitors' market analysis. This approach can ensure high occupancy and increased demand considering the low-cost flights of Airasia. The important thing the buyers look for is the fly to destination which shows the strong bargaining power of buyers. The cost-cutting strategies of AirAsia are effective and beneficial in terms of financial growth and maintenance (Ahmad and Neal, 2006). No plagiarism, guaranteed! Air Asia started with only 2 Boeing 737 300 series and started their first point-to-point flights. 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. About Air Asia Jet Star Airways is a low cost Australian airlines services head-quartered in Melbourne. In accordance with the increased demands, the options available for flying has also increased, and hence, the bargaining power for buyers is examined to be high for Air Asia. Low switching costs. Malaysia Airlinesis a member of the oneworld airline alliance and it is also considered as the flag carrier of Malaysia which is head-quartered in Kuala Lumpur International Airport. Customers have access to market information. The competition will be fiercer if there is high number of competitor, this is a normal phenomenon. Furthermore. The following are the strengths of Air Asia : Weaknesses are used to refer to areas where the business or the brand needs improvement. Furthermore, AirAsia adopted a fare structure, according to which, the people who book tickets earlier will get a cheaper fare (AirAsia, 2018). Sponsorship is also one of the great marketing tools. Step 3- Assess the Porter Five Forces in relation to the industry and assess which forces are strong and which forces are weak. Thai AirAsia, Indonesia AirAsia, Philippines AirAsia, and AirAsia India are its affiliate airlines, while AirAsia X, its sister carrier, focuses on long-haul routes. The first decision by the Malaysian Competition Appeal Tribunal since its inception more than four years ago caught the media and publics attention. Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. It would be a strong competitive edge to AirAsia after the pandemic ofcovid-19because the purchasing power of the people has dropped significantly. In order to build buzz, cheap flight tickets are given out based on demand in the form of promotional schemes. SIA introduced 2 budget airlines; ValuAir and Tiger Airways.. Their slogan Now Everyone Can Fly itself sets the tone for the brand. Their target audience is- travelers looking for inexpensive flights. Disclaimer: The reference paper provided by Student Life Saviour should be used as a model paper, and are not intended to be submitted to the universities. Since AirAsia is a low-cost airline and the Indian market is price-conscious, it would be a win-win situation for both. Air Asia uses direct sales methods, such as sales through the internet, call centres, and walk-in airport sales. The portions of income of an individual earns is the factors because when the portion is high, the more customers will look for cheaper price, hence the bargaining power of buyers will be strong. The company was established in 1993, and the official operation of the company was started on 18 November 1996. 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. Liked our work? There are several companies associated with AirAsia including AirAsia X, Tun Hotel, Tune Monkey, AirAsia Berhad, Thai AirAsia Co. Ltd., AirAsia Japan Co., Ltd., PT Indonesia AirAsia (India) Limited. 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). Some of the threats include: If you liked this article, we bet that you will love the Marketing91 Academy, which provides you free access to 10+ marketing courses and 100s of Case studies. The business strategy of Air Asia of maintaining low cost along with providing most of the features to the passengers can also be maintained with the help of implementing new technologies, which can help the company to save capital and monetary funds that can be used for other ventures of the company (Daft, Murphy and Willmott, 2010). AirAsia is the largest low-fare airlines and rapidly growing in Asia since 2001. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. Looking for a flexible role? The Marketing mix refers to the set of actions and tactics which a company uses to promote its brand. 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. The verdict overturned the Malaysian Competition Commission (MyCC) ruling that AirAsia and Malaysia Airlines (MAS) had colluded to share the market. Similar service provided among every airline company so the competitive may be fierce. Some of the key weaknesses of Air Asia are: Opportunities refer to those avenues in the environment that surrounds the business on which it can capitalize to increase its returns. WebStep 2 Identify the competitors of Airasia and group them based on the segments within the Transportation industry. AirAsia X was regarded as having the worlds best low-cost airline premium seat and the worlds best low-cost airline premium cabin for five consecutive years (AirAsia X, 2018). AirAsia offers the cheapest flights to over 120 destinations across Asia and Australia (AirAsia, 2018). AirAsia has 5 employees at their 1 location and RM1.84 b in annual revenue in FY 2021. Switching Cost is low. Build a competitive intelligence sales and marketing strategy based on the data Hence this concludes the Air Asia SWOT analysis. Other than that, hes a fun loving person. 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. High Switching Cost. Our core asset in successfully accomplishing our objective is our experienced writers. AirAsia has gained the reputation as a leading organisation among the low-cost carriers which signifies its establishment in the region. Lets understand AirAsias competitors better with analysis. This increases the probability of people to avail of airline services frequently. It follows vital certain strategies, which include safety first, high aircraft utilisation, streaming operations, lean distribution system and point-to-point network to amplify the working of its low-cost model (Zhang et al., 2017). Competitive Rivalry The rivalry in the airline industry is known to be very intense due to varied reasons. According to a report by The New York Times in 2007, it described AirAsia is the low-cost pioneer in the airline industry. Management of costs: Air Asia is finding it immensely difficult to manage the fluctuations in costs of SilkAir 3.Tiger Airways Hence this concludes the Air Asia SWOT analysis. Use fundamental and technical analysis of AirAsia Group and its peers Please click here if you are not redirected within a few seconds. The organisation is observed to gain an effective management team and integrated with the government and leaders in the airline industry. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. The company has partnered with the worlds most famous maintenance providers to ensure its passengers safety. The other supplier such as fuel supplier, merchandise supplier, or food supplier may be depend on market condition. Air Asia is one of the leading brands in the airlines sector. Thus, the customer may choose to purchase premium airline which may offer them more comfortable facility in almost same price with Airasia. Below are the top 3 competitors of Air Asia: 1. Their 5 main operational hubs are Singapore, Indonesia, Japan, Malaysia, and Thailand. Your topic helped a lot, Your email address will not be published. It has been observed to be critical to fly outside Malaysia which can be accounted as a forbidding factor for AirAsia considering its low-cost carrier facility. Furthermore, Jet Star Airways has comparatively more number of payment options that are available for the convenience of the customers (Finder, 2018). The airline which was set up in the year 1993 started operations in the year 1996 and is thus a fairly new airline. WebAirAsia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ AirAsia has expanded its routes to different countries all around the world including Indonesia, China, Singapore and the Philippines. AirAsia has won many awards over the years. 2.1.2 Pest Analysis PEST analysis is a useful tool for scanning the general environment. 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. WebAnalysis for Cost Leadership Strategy and Core. The companys primary focus is to build customer value. KLIA-Singapore is also served by four Singapore-based carriers Jetstar Asia, Tigerair, SilkAir and Singapore Airlines. Today it is one of the most reputed Asia-based airline companies. Besides @flyairasia and Focusing on providing air travel without frills at substantially lower prices, AirAsia has managed to achieve lower prices to attain high passenger loads, market share, and profitability by eliminating provision of Brands, such as Jet Star Airways and Tiger Airways, are sustaining in the competition as they also provide air transportation at cheap costs to people along with enhanced in-flight services and varied options for passengers.This directly affects the customer strength of Air Asia, andthese companiespose a threat to the company. Well established LCC operating out of South East Asia, 3. 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