Essay On The Target Market
Tiger airways introduced its services is in a growing market. This is a unique opportunity for the airline. A stagnant market becomes difficult to introduce new services because there are already other companies that are likely to bring in competition. Singapore Airlines introduced its services in the market in a unique way. With the growing importance of quick travel, the airline can satisfy this by providing unscheduled flights in the local towns and the neighboring countries in order to help the target market identify with its services.
This will introduce the services in the market in a unique way. The airline also hosts other events like sports or engage in corporate social responsibility activities like girl child education to help the target market identify with its services more. The airline can use a wide range of marketing strategies which will lead to the overall growth of its services in the market. The Singapore advertising market has been growing at a rapid rate which means there will be an array of opportunities for the growth of the market.
There are many advertising strategies for the company in the Singapore market.
Threats
There are threats of entry of other airlines in the market. In this case, there are threats of entry of new airlines in the market which will increase the level of competition in the market. There are other airlines that are likely to introduce the same products in the market once there is the success of the initial product.
There is a threat of change in the current external environment which is likely to alter the nature of the market. For example change in the taxing regime, government laws regulating the industry, and other factors which are likely to impact negatively on the industry. Marketing and communication Strategic analysis The Singapore airline has strengths, weaknesses, opportunities as well as threats in its operations. Its services can be compared with others through analyzing the SWOT of the company’s internal analyses.
Singapore airlines the most preferred airline in Singapore has other big airlines in the same state offering the same type of services in the country, therefore, causing a grate threat to the company’s businesses.
Strengths
Bringing the experience of SA’s services in the market, Although Singaporean is a very big technological and tourism market in the world, the SA’s services have already penetrated in the minds of the middle and low-class passengers in the country there getting a great preference compared to other ordinary airlines.
This means that the services have already brought the first experience in the market. Therefore the company will use its competitive advantage in the market to create a new experience for customers by introducing new techniques in the same market. (Directory: World Airlines, 2007, p. 89. ) The target market is an important determinant of the overall rate of growth of service in the market.
The reception or the ideal image that the service creates among the individuals in the target market will determine whether it will eventually record a higher growth or not. The service is targeting the middle and high class population. Research has proved that the middle and high class are the major users of the services all over the Singaporean state. The target market is, therefore, a key factor in introducing the services and ensuring that it succeeds in the market. Customer loyalty TA has been the leader in the Singaporean airline market.
For the last two decades or so, the company has consolidated its market to ensure that it has loyal customer who have been kept coming back for its portfolio of low cost and effective services. With more than 10% of the market, SA has cemented its operation in the market. This is the advantage that its products will take on as it makes its entry into the market. Compared to its competitor in the airline services, the service will have an advantage of already established customer base of SA which is likely to bring in more new and improved services. (Flight International, 2007, p. 23–29)
