Market research
Information about customer needs, brand preferences and characteristics were identified.
The data source was selected. (Surveys, mail based surveys, complaint monitoring, government statistics, magazines and interviews)
Marketing objectives
Qantas attempted to:
Maintain the combined domestic market share
Grow Jetstar in asia
Increase customer service standards
Match demand with capacity
Reduces losses in international departments
Market segmentation
This is the processes of diving up the total market into small groups. It enables Qantas to:
Better meet the needs of the customers
Better tune the marketing mix to certain groups in the market.
The leisure segment is divide into holiday, visiting friends and relatives.
Marketing strategies
Positioning
This is the image that Qantas has in comparison to its competitors. There may be an image to competitors and the target market.
Marketing mix
Global marketing
This is an extension of marketing across national boundaries. Some global marketing strategies that have been utilised are:
Global branding
The same brand/logo (flying kangaroo) >> increases revenue and growth + recognition
Packaging and designing costs are reduced.
Standardisation
This is the standardising of the many elements of the marketing mix. >>> allows economies of scale to be achieved.
There is the “one world” name and logo on all planes + tickets >> improves corporate image + captures greater share.
Customisation
This is the ability to differentiate the marketing to target different markets.
Qantas adjust/tailors its marketing based on the markets. Japanese markets will have Asian dishes and Japanese fluent speakers.
Implementing, monitoring and controlling the marketing plan
Implementation- the process of turning the marketing plan into action. Qantas undergoes, monitoring, controlling and adjusting marketing via:
Developing financial forecasts of revenue using past sales data and surveys. Estimations are then done after.
Comparing actual and planned results- done using (sales analysis + market share analysis + market profitability). They reveal the current situation of the business.
Revising marketing strategies and taking action.
Qantas revised its marketing by reducing prices to stimulate demand, reduced flight frequencies and cancelled orders for new planes.
