Supply and Demand Easyjet

This report illustrates an in-depth look of easyJet and will also discuss an analytic research that was made to demonstrate aspects of the history of the airline, along with the marketing strategy and brand strategy used and implemented by the low-budget airline. The strengths, weaknesses, opportunities and threats, known as SWOT analysis, will also be illustrated along with the external environment better known as PEST analysis which consists of the political, environmental, social/cultural and technology factors of easyJet. In addition an analysis of the competitive market environment of easyJet will be shown, which includes an overview of easyJet’s main competitors and the nature of business in which they operate

Currently one of Europe's largest low-fare airlines, easyJet (hereinafter alternatively "the company") operates daily scheduled services for both leisure

Marketing Mix includes four basic marketing strategies which is called Product, Pricing, Promotions and Placement , The add on three marketing mix will be People , Process and Physical Evidence. They are combine and called the 7Ps which is under the elements of Service Marketing Mix. Working professionals or businesses use these fundamentals to communicate with and reach their planned target market. Marketers manage decisions about each of the 7P's base their decisions on the individuals they want to win board and make into customers. Marketers must first clearly identify each target market before they can build up marketing strategies.

The Marketing Mix provides an excellent framework for developing marketing plan. They are generally accepted as being made up of four parts which are:

When it comes to providing low cost there are many different strategies easyJet use which help lower its expenses. These strategies are e.g. using the internet for online booking, which reduces distribution costs, it makes an effort to utilise as many aircrafts as possible and making sure the aircrafts are full as possible and flying as much as possible. Another strategy is ticketless travel which reduces the cost printing and other cost related to it. The organisation also reduces cost by not offering free meal during the flight, applying paperless operations as most of their paper work is done online e.g. filing of paper based customer information does not have to be stored in secure places, using economies of scale to lower expenses e.g. buying aircraft , fuel and food all in bulk. Efficient use of airports making sure enough planes are turning over customers, also if the aircrafts are in the hangers and not in service they are still paying the fee to lease the space from the airport authorities. And another good strategy is having few levels of management where they do not have to pay high salary to highly skilled staff.

Marketing mix is used at the MARC facility to develop and implement a plan to achieve organization goals. The four variables product, price, place, and promotion are within the organization’s control and therefore, the mix of those four elements are key in marketing decisions. Marketing mix is the combination of all the experiences, tools, innovations, and creativity that the MARC uses to make consumers their clients. All four P’s are needed in a marketing mix they should all be tied together. Pricing for the services

In this paper about the Marketing Mix, it will explain the elements of the marketing (product, place, price, and promotion). I have enclosed a chart about the Pricing Strategies Mix. I will also be selecting an organization by the name of Target in which I am familiar with and will describe the four elements of the marketing mix and how it impacts the organizations developmental marketing strategies and tactics.

Mars-library, 2015, Marketing mix in marketing strategy: Product, Price, Place and Promotion, viewed 3 June 2015, < www.marsdd.com/mars-library/the-marketing-mix-in-marketing-strategy

As per Ian Ruskin Brown and Greg Clark “ Marketing mix is the term used explaining the different elements comprising the offer that the different companies makes to their customers”. (Brown and Clarke, 2000:44). E.Jerome McCarthy in early 1960s came up with the four Ps in the marketing mix. According to him these 4ps are “ Product, price, place and promotion”.( McCarthy and Shapiro 1975: 35). Refer Appendix I for the pictorial representation. But the view of Richard Sandhusen is that the four marketing mixes should be ‘price, product, promotion and distribution’ (Sadhusen, 2000:319). According to Steven Stralser ‘in order to create a marketing strategy and plan that touch all the areas of marketing to position a product, maximise revenue etc a few more components have to be considered which are, Marketing segmentation, Marketing Strategy, Marketing research , Pricing, placement and value chain.’(Stralser,

Marketing is very important to all organizations, and it determines whether the business will be successful or not. “Marketing is the all-encompassing process of getting a product or service in the hands of your customers. The steps involved include market analysis, product creation, advertising strategy, and distribution (Jeanty, 2011).” The elements of the marketing mix help the marketing department market products or services correctly to make them the most appealing to consumers. There are four elements of the marketing mix, which are as follows: product, place, price, and promotion. The organization that was chosen to describe how each of the four elements of the marketing mix affects the development

As is known, pricing is one of the most important steps for business plan which needs good research, calculations and formulations. There are different pricing strategies to put into effect due to the market and product conditions, such as premium pricing, penetration pricing, economy pricing, price skimming(Voice Marketing, 2012). These four pricing strategies are main pricing policies. They form the bases for the exercise. However there are other important approaches to pricing. These pricing strategies are: Psychological pricing, product line

Airlines use a formula of combining their yield and inventory costs to determine ticket prices. While it is imperative to focus on the idea of being profitable, the focus is to maximize the cost of the flight revenue. One huge factor that encourages an increase in the cost of tickets relates to a customer ordering a ticket close to the departing date, define this as a risk factor because they need to make up for all unsold seats. A high percentage of the revenue is dedicated to overhead costs such as fuel and labor. When a ticket price is higher with one airline than the other, the customer interprets this as being an excessive cost. The demand is greatly affected by the external market

The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.

The traditional marketing is identifiable with its 4P’s marketing mix: product, place, price and promotion. Armstrong and Kotler (2005, cited in Rahnama and Beiki, 2013) referred to product “as anything that can be offered to the market for attention, acquisition, use, or consumption and that might satisfy a want or need” (p. 147). In the adoption of a strategy for the benefit of the organization, consideration must be given to the development of the product along with its packaging and branding and other aspects which relate to the totality of the product. Place is a traditional marketing mix which includes “channel type, exposure, transportation, distribution, and location” (Rahnama, et al., 2013, p. 147). It has to be remembered that the product must be available to the customers anytime and anywhere, depending on the knowledge of the wants of the customers (Saeed, Bilal and Naz, 2013). The channels, wherein the flow of product’s distribution takes place, have to be monitored and secured in order to ensure that the distribution process runs seamless and product shall reach to the end users as desired. The pricing mix comprises “competition, cost, markups, discounts and geography” (Rahnama, et al., 2013, p. 148). It is

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).