Aviation industry is strange. You can see the fortunes of one carrier coming to the ebb on the same turf and on the same markets, and that of another skyrocketing. The critics will continue to make the comparisons and examine the variables that result in these fortune fluctuations and have their lessons planned for management as case studies.
- Better market awareness and how it will change in the future: By knowing what the customer wants from the airline or what their expectations are likely to be in the future, the airline will plan the right product, service and price mix so that the airline continues to operate at optimal profitability rates.
A better understanding would also ensure the airline would represent the client well. It is in a position to provide customer service to the highest customer satisfaction.
- Careful market analysis: Those who misjudge the competition are making wrong decisions. If the level of competition is underestimated, there are good chances to be lethargic and let the rivals become big threats. Likewise, overestimating the competition threat could cause airlines to take decisions that are very costly and likely to affect current operations. Therefore, a fair assessment of the nature and magnitude of the challenge of competition will be evaluated, and strategies will be developed and implemented well in time. click here
- Adopting the right strategy at the right time: When you take the right action at the right time, you are more likely to hit the bull’s eye more often than not. The good airlines are neither exaggerating nor undershooting when it comes to making the right decisions at the right moment. Based on the study of objective and subjective variables, airlines may establish the right strategy to be implemented at the most appropriate time. Strategies are of a long-term nature and are therefore based on top management’s strategic approach.
- Flexibility: As the aviation industry is highly variable from day to day and from season to season, the solution must be versatile and incorporated throughout the airline’s internal service. The most successful airlines are those which can adapt under changing circumstances. Nonetheless, the scale of the transition must be set parameters which will not impact the airline’s brand image. Therefore, if the airline’s offer of cheap air tickets is likely to dilute its brand equity due to low demand in the lean season, then the airline does not want to go along with it. Clear limits and limitations are therefore to be well delineated.