Easy Jet

The selling auditis a fundamental part of the trade cookery process. It is conducted non merely at the beginning of the process, but a equivalent at a series of points during the slaying of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as a review of the plan itself 1. purlieual Audict on lucky jet(the factors that bum influnce the comp any(prenominal)) A)Five porters forces *Threats from refreshing entrants When new zephyr passages enter the market ,how they involve docile jet *Threats from subsititue crops to a greater extent options to go to a terminus such(prenominal) as b purposes,train.. ow these things affect easy jet *Bargaining precedentfulness of suppliers if plane manufacturer factories transport planes with a high hurt ,how this affect the easy jets finance *Bargaining power of buyers for instance easy jet makes a contract with plane factories for 10 days with the stubborn stick so the f actory cant sum up the price during this time. Bargaining lets you buy products at a cheaper rate *Internal Rivalry Internal competation ,easy jet fight once morest other air hoses Threat of substitutes-this can be anything that can be a substitute to diffuse atomic turning 19 or airline fabrication in general.For instance, a nonher airline with even broken iner prices, consumers opting to use other modes of transport (trains for instance). When Heatrow was hit by that huge fog yet before Christmas and no planes were flying, Eurostar trains were suddenly all book of accounted. I would think, provided, that for wakeful Jet, on that point would be no monolithic threat of substitutes. there is a threat of ever growing competition but this isnt the case of substitutes. Substitues ar in other words me too products which argon less(prenominal)(prenominal) likely to occur in airline persistence or portion industry then in FMCG. I think. Buyers-here you can list down any a ssertable threats from buyers.This is where you look at the relationship betwixt indulgent Jet and its tar secureed consumers. How strong is easily Jet brand? Do consumers believe in, and to, unaffixed Jet? Are they loyal to wakeful Jet or do they switch to other airlines with no real or perceived risks? If yes, why? If not, why not? Do consumers turn over alternative to casual Jet? If yes, and I would say they do, how does the relationship between sluttish Jet and its consumers change? Who has greater leverage in this relationship, consumers or wakeful Jet? Who is more practiced on whom, why and to what extent? Etc Ask as many questions as you can and you provide get your answer.Talk to someone who has used Easy Jet services, ask them what they liked and disliked about it, would they use it again and why, how do they feel about Easy Jet, how did they decide to fly with Easy Jet, will they choose Easy Jet again B)Swot outline 4 main strenghts and the opposite ones ar fo r weaknesses *Finance * technology *HR Department *Reputation and image EasyJet disperseline Company Limited Strengths * EasyJet is a leading provider of humiliated budget, no frills air travelservicing many of the leading city destinations in the UK and across Europe, including Berlin, Amsterdam, Barcelona, and Prague. They go a high quality service at competitive prices and crack a human body of features including ticketless travel, lucre arriere pensee and assisted travel services. * They have ahighly distinctive liin truthon their give of aircraft making them easily recognisable and distinguishing them from their competitors. * They have auser friendly websitewhich fully discloses the price sectionalisation of the passengers planned travel. offering a full breakdown of the price plan prevents any hidden charges when the node con loadeds there betrothal. EasyJet offers an online promotion alert which is e-mailed to existing nodes and contact on the companys database. * Recognised as a leading brand name in the UK travel industry. * As a market draw in an industry widely seen as a leading contributor to the green house outcome and global warming, EasyJet actively embrace there environmental responsibilities and keep up to clench these factors as a keep priority when developing their future strategies. * EasyJet operate a fast and efficient service with an average atavism time of 30 minutes or below.This enables them to maintain a reliable and hassle free service to their passengers. * For the case study,planes and turnaround times means to take short time on departure,use of internet,financial position The easy brand is a well k immediatelyn brand across the UK andsome beas of Europe. It is knownfor low cost for the pile which is implied by their orange culture. They want to paint the populaceorange, implying that they want to provide goods and services at the lowest possible price. easyJeteasyJet only offers a single fargon class. Its p ricing strategy is to offer value for money and this isdoneby safekeeping costs to aminimum.Unit costs atomic number 18 keptlow by eliminating travel agents, maintaining highaircraft utilisation, focusing on internet sales, eliminating un prerequisite service frills, operating a fleet ofsimilar aircraft and establishing spacious-term agreements with suppliers. One of the depict strengths of easyJet has been the utilisation of the internet. easyJet bookings oer theinternet relate toover 92% of total sales andis expected to increase. They see themselves asbecomingthe first internet only airline. Strengths Cheap tickets. A simple fare structure. Image, differentiation on price andbrand. Commitment to customer service. Multi-base network. Strong corporate culture. Flexibility to change bookings on theinternet. Lower costs than the constituted airlines Weaknesses * Domestic air travel is an extremely competitive industry withEasyJets main competitors being Jet2, BMI Baby, Ryan Air plus a host of smaller independent competitors. These external competitive forces can restrict and regulate pricing policy on some ofEasyJets less attainable routes as they seek to deal with their competitors. * They do not offer a free food service on longer flyings of 2 hours plus. asyJet has many weaknesses but the main include the lack of service,flexibility and telephone line focus makingthe cheap pretenceunappealing tobusiness travellers. Businesstravellers are not include at heart easyJets business stick. Since September 11 businesstravellersaccount for 50% of passengers and whence should be a target for marketing and should be included inthe business model. This can be seen as a weakness for not targeting this segment. easyJets business model also relies on people flying more often. However, there is a limit as to howoften people fly.The growing is not infinitive, it is possible that the low-cost market will be saturated. Itwill come to a point when the low-c ost airlines will not be able to stimulate any more get fromlow prices. (CPRE The Future ripening of Air Transport in the UK, July 2003 Weaknesses Pilots over 65 are not allowed to fly overFrance, Italy and Portugal. No guaranteed departure. No unaccompanied children under age of 16. No autopilot. Lack of service, flexibility and business focusmake the low-cost model unappealing tobusiness travellers. Focus on price and convenience is r each(prenominal)ing itslimit.Differentiation will be grueling. Due to immobile success it is difficult to recruitand train new staff. No customer retention scheme Opportunities * Possible opening of alternative routes to major cities in Europe. A lynchpin route could be from Dublin to the UK, as this has a large potential for travellers going to soccer matches in the UK plus new links into corporate flyers to and from the UK. * Offering of free refreshments on shoots with a travel time of over two and a half hours. This would offer an extra perk and comfort to passengers making their experience with EasyJet all the more comfortable and enjoyable. Updated versions of the fly on the wall documentaries would provide the brand with more coverage and publicity. The opportunities in the industry mainly come from the Eexpansion. On the 1st ofMay 2004, 10 countries will be joining theEU. Thus, the EUs membership will beexpanded from 15to 25 countries. The new states include former members of the Eastern Block and smaller islandstates. (bized. ac. uk) These are Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta,Poland and the Slovak Republic.Further EU expansion is expected in 2007 when Bulgaria andRomania are hoping to join the EU, while Turkey is now soon negotiating its membership. (europa. eu. int)The addition of more than 100 one thousand million people to the EUs market of 370 million will present an probability for further growthfor the low-cost airline industry. easyJet has already announced its newroutes from Luton, Berlin and Dortmund dromes to Budapest (Hungary) and from Stansted airport toLjubljana (Slovenia). (easyJet. com) Threats * Competitors flying the corresponding routes compete very competitively on price forcing pressure on tolerance on more popular flights and time slots. External market forces can have a satisfying impact onEasyJets business, e. g. the rising cost of oil can have a pregnant impact on running costs putting significant pressure on the positiveness of less popular routes and time slots. * Pressure from unions and employee relations committees can signifigantly impact on the day to day trading operations with strikes proving to be very high-priced to the companys image. * stinting downturn may lead to a decrease in casual flyers and corporate travel as companies seek to curtail what they see as unnecessary expenditure and in turn make less business trips. Financial Analysis in spite of appearance thelow-cost/no-frillsairline industry inthe UK,Ryanairis easyJets maincompetitor. Inevaluating thefinancial performance ofeasyJet, itis therefore useful tocompare its performance withthatof Ryanair. For the purpose ofthiscomparison, we will be making use of anumber of ratioswhose formulae follow that of FAME. The data used for this financial analysis are easyJets unauditedpreliminary results for their financial year terminate 30 September 2003, which provided results for boththe year ending30 September 2002 and2003.Ryanairs financial year-end however is 31March 2004. Therefore in enunciate to obtain data thatwould be directly comparable, itwas necessary to use data fromtheir half-year which ends 30 September 2002 and 2003, and to use figures taken from their financialyear end 31 March 2002 and 2003. This enabled us to obtain figures for a full 12 months ending 30September 2002 and 2003. For a quick overview of all ratios refer to cecal appendage 3 and details of allcalculationsare contained inAppendix4. All financialr eports were obtained from downloadsavailable onwww. easyjet. comandwww. ryanair. com.The first numerical roofy of data tobe analysed is the Profit and Loss Account. This deals with therunning of the business, i. e. the amount of turnover, the cost of what has been sold, the expensesgenerated during the year and of course the profit that has been made, by chance the figure that theshareholders aremost interestedin, but thereare other criteria thatcould affect the profitability of thecompany PEST analysis for easyJet The following factors are likely to have an influence on the airline industry and should therefore be taken into account when formulating a market placeing Plan for easyJet.Politico-legal factors Threat of war in the Middle East The Air Miles scheme is not considered as a taxable perk by the government in the way that company cars are taxed which may change to allow easyJet to compete on more equal grounds with the likes of BA. A EU east-enlargement may provide acce ss to viable, new markets. Economic factors Likelihood of increasing send away costs, congestion and other environmental restrictions, as well as the expression of higher security and insurance costs to reflect the risk of terrorism. As the recession is likely to stand up for some more time, business travellers will keep an eye on their travel expenses. Globalisation should continue to boost traffic in the long-term. The introduction of the single currency in Europe is likely to put down more business to easyJet as Europe becomes more integrated. Socio-cultural factors To win over the French and German publics dexterity cause problems as there appears still to be a general reluctance to use quote cards over the phone and Internet . The public are general quite friendly to the luck of cheap flights.However they may feel begrudged where they see promotions found in newspapers where flight are for ? 10 only to find that the actual cost is lots higher for the particular time or day they tender to fly on. scientific factors A key issue will be the extent to which technological advancements such as the use of the Internet on distribution and cost synergies from industry consolidation can contrabandist upward pressures on prices and costs. easyJet has to keep way of life of technological developments in the field of e-commerce and aircraft manufacture in order to gain a competitive favour. CONTINUE..The business environment is a set of political, economic, social, technological, environmental and legal factors otherwise know as PESTLE analysis. These factors are not controlled by the business. Which means that businesses must adapt chop-chop as the environment changes. These macro factors have a positive or negative impact on the business. The political factor can be affected through tax policies as Easyjet are aerated with landing in different countries, employment laws, environment regulations, trade restrictions, tariffs and the government. The economic factor is forever changing with prices constantly fluctuating.For example oil prices increasing affects overall profits for the company which in return affects how much money Easyjet can invest on improving the airline or giving back to the communities. Baines, Phil and rascal (2008a) explain firms are effected by environmental issues such as wage inflation, price inflation, revenue domestic product and income sales and corporation taxes. From the social aspect this looks highly on safety of the airline and its staff and passengers. Which then attracts passengers to fly again after being ensured of safe and secure flights.To keep up in technology Easyjet must be internet dependant as flights are booked and canvas via the internet. Therefore customers need to be satisfied with a quick and simple service. Easyjet also have a great career attitude which commits staff to be up to a excellent standard of service. Technology plays a huge factor within Easyjet as it has t o rely hugely on the reliance of technology. likewise as things improve technology becomes cheaper which means barriers to entry could be note for competitors to join which could affect the profit of Easyjet. Barriers to entry are designed to block potential entrants from entering a market profitably.They seek to hold dear the monopoly power of existing firms in an industry and therefore maintain supernormal profits in the long run. Barriers to entry have the effect of making a market less contestable. (Tutor2u n. d) To prevent this explore and development expenditure can act as an obstruction to potential entrants to industry PEST analysis PEST analysis is elect, to look at the possible business environmental impacts that may affect theindustry and easyJet. It can be used to infer a variety of trends, patterns and projections which willinfluence easyJets future strategic decisions (ACCA 2004).PEST analysis was chosen over SLEPTanalysis as we found it difficult to differentiate between legal and political factors. The legal issubsumed into political. reflexion will be made to the political, economic, social and technologicalenvironments that may affect the industry and easyJet in the future. Political Environment The industry and easyJet must react to any regulations that are imposed by the political party and thecorporate brass section code. The EU compensation ruling that will take affect in 2005 is currently beingchallenged by easyJet as well as other airlines.If this challenge is unsuccessful then it would meanincreases, inlegal battles, compensation payouts andoverall increases in costs. Asa result, fareprices easyJetwill increase and demand will fall. This would makeit very difficult to seethe future for thelow-costindustry. Expansion of the UK airport system will play a major subroutine in the future of the airlines growth model. Stansted is expected to have one additional runway and terminal, increasing UK air traffic growth to402 million by 2020 , 501 million passengers by 2030 (Mintel report 2003).The government are seeingthe benefits that the melodic phrase industry can bring to the country. The question that remains to beanswered is, for how long are the government willing to garter the growth of the industry before theystart to intervene? Any intervention from the government is likely to be costly in the future to theindustry. Economic Environment The government may decide to impose taxes onthe industry. A possible introduction ofa Green tax,a tax on fuel to try and subjugate the pollution that it causes, would increase the costs and as a result couldraise easyJets fares by more than 20% (Financial Times, 1 stNovember 2003). Also the ? 6 billionworth of subsidies that is currently received from the government may be reduced over time to limit thegrowth of the industry. The growth of the industry may need to be controlled to keep pollution to aminimum. As subsidies decrease there will bean adverse affect onfare prices causing demand to fall. This will also affect the business model as it would need to be revisited. The recent rises in the UK interest rate, which currently stand at 4%, has increased the publicsliabilities.People have less liquid income and as a result are less likely to travel abroad. Theincreases will also affect easyJetss loan repayments on its new order of aircrafts. At present, paymentsrelating tothe purchase are notincluded in the hedgingpolicy and therefore will affect the liabilities ofeasyJet. Social and Culturalenvironment The UK nation as a total are aging, people are living longer. The number of people between theage of 25 and 34 has been decreasing but the age group between 55 and 64 are expected to increasefrom 2005 (Mintel report 2003).The older age group tends to have more disposable income (SAGAholidays target this group) and therefore should be targeted more by easyJet. Saying this, youngerpeople who have less disposable income are now starting to go abroad f or their holidays. This meansthat the airline industry is attracting more potential passengers because of their low fares. Technologicalenvironment easyJeteasyJets use of the internet needs to be enhanced, they are aiming to become the first web-onlyairline.Currently 92% of their tickets are sold online and improving this figure will bring cost savingwhich in turn couldbe passed onto the consumers. This will make easyJet more competitive on price. easyJet will need tokeep track oftechnical developments in e-commerce andaircraft manufacturing inorder to compete against its rivals 2. 7ps marting Mix of Easyjet harvest-home Easy Jet is a flight booking company located at London. Thebenefitsof Easy Jet being online and on teletext means that they are providing better margins this is where they are dedicated to customers digitally.Place Not solely online but majority of sales are online so Easy Jet will concentrate on this target market. Today, technology allows us to sell more goods to fewer people, which is far more efficient than merchandising fewer goods to more people. This is confirmed by Peppers and Rodgers in their Marketing concept. Peppers an advertising executive and Rogers a marketing scholar, their concepts addressed one to one marketingand how it concentrates on providing services or products to one customer at a time. This is by identifying and then meeting their individualistic needs.It then aims to repeat this many times with each customer, this is so consumers feel relationships are in positioning when perhaps they are forged. Price With Easy Jet being on the internet for such a long period it means it has cut out aspects such as the post, this is because tickets and boarding passes are now emailed to customers or printable online, therefore cutting out the middle man. Promotion Easy jets website is offered through search engines and travel/flight comparison websites, this is both advertising and selling their service.They also send members ema ils with promotional offers. Physical Evidence Although Easy Jet is based mainly online now, Easy Jet are still booked through travel agents or in the airport itself. physically offline Easy Jet have recently in the previous few months been advertising in Sainsburys stores by staff (uniformed Easy Jet T-shirts), advertising there new partnership. Physical evidence online differs, they have aspects such as security icon and policies in place which gives consumers a sense of security when booking online.People On Easy Jets website they have sections, such as blogs, FAQs and a whole section dedicated to customer service to try and give consumers a sense that even though they are online they still have some form of contact to Easy Jet. Process As mentioned in a higher place Easy Jet integrates online and offline by having customer service in the airport and online. CASE STUDY Product Easy jet is an low cost budget airline as well as no frill. The easy brand has been extended to other p roducts. There are now easyinternet cafes,easycar,easymoney and new easycruise products.Price There 3 types of pricing which are Premium Pricing this is for specific segment of people for example apple targets for certain(a) people. Low cost pricing which is for easyjet,targeting low cost price and low income people. Psycological pricing,99p instead of 1pound They use a low cost price to be competitive Place It means Distrubition . Distrubition has manufacturer,agents,wholesalers,retailers,consumers. The more distrubition you have ,the more expensive your products will be. easy jet has manufacturers and directly deals with consumers so they save money. lmost 90 percent of tickets are sold through the internet for the 10 percent agents sell so they sometimes deals with agents too. Promotion internet People Paperless opeartions since its launch easyjet have simplified its working practices by embracing the concept of the paperless office. they do everything online quite an than pe ople going to branches and taling face to face ,everthing can be done online so easyjet saves money for hiring less people Process Ticketless travel passengers,instead receive an email containing their travel details and confirmation number when they book online. his helps reduce significantly the costs of issuing,distrubuting, touch on and reconciling millions of tickets each year Physical Evidence it means beauty,new planes ,comfort flights from each one boeing is new 737 aircraft and has a list price in the region of 35million gbp. Therefore maximising utilisation of each aircraft reduces the unit cost NOTES FROM THE CASE STUDIES MARKETINGThe mutual satisfactions of both suppliers and customers. The method is the process of shaping and managing the marketing mix in a way which takes into considerition the needs of the customer and the goals of the organisation at one and the same time.Marketing is the performance of business activities that direct the flow of goods and services from organisation to their customers. Chartered Institute of Marketing defines marketing as The management process which identifies ,anticipates and satisfies customer requirements effciently and profitably Professor Philip Kotler 1999 statesMarketing is a social and managerial process by which individuals and groups get what they need and want through creating,offering and exchanging products of value with others. People dont only buy what they want to ,they buy them because of the value of products they require.Marketing is concerned with customers ,they are the main element in marketing not quality or products. If customers are demanding for new products features,marketing department will have to go on these requirements to the production department to make provision for new processes and new machinery. On the other hand if the customer change their pattern of shopping or seek more information regarding the safe us of product ,the company may have to recruit new marketing execu tives to match up to the demand. )Using technology on easyjet One of the most important developments in the UK travel industry in the last 15 years is the growth of the budget or no frills airlines, easyJet and Ryanair. Both of these airlines were launched when new regulations made it easier to operate between countries within Europe and both used new technology and other methods to sell lay, rather than through traditional high street travel agents.The growth of both companies has been exceptional and the airlines have used similar approaches in their business models * Use of the Internet to reduce distribution costs easyJet was one of the first airlines to see the opportunity of the Internet when it sold its first seat online in April 1998. Now approximately 95 % of all seats are sold over the internet. * Maximise the time the aircraft is being used For both Ryanair and easyJet maximising the use of each aircraft reduces the overall cost of running the aircraft. Ticketless trav el Passengers receive an email containing their travel details and booking reference when they book online, rather than a traditional ticket. This helps to reduce significantly the cost of issuing and processing millions of tickets each year. * No free lunch Not offering free catering on-board reduces cost. Passengers can purchase food on-board if they choose to. * Free seating Unlike traditional airlines, Ryanair and easyJet passengers are not assigned a seat, unless they pay extra to board first.This helps passengers to take their seats more quickly and saves time. * Efficient use of airports By reducing turnarounds (the time between landing and take-off) to 30 minutes and below, easyJet and Ryanair maximise the use of their aircraft. Not having pre-assigned seating, like traditional airlines, helps reduce turnaround times. * Reduced fares generally Ryanair and easyJet offer cheaper fares than traditional airlines, especilally for passengers who can book beforehand(predicate ) and take utility of the deals available.Easy JetMANAGEMENT 100 800 WORD SUMMARY 836 WORDS EXCLUDING REFERENCES EasyJet EasyJet airline Company Limited headquartered at London Luton Airport is the UKs largest budget airline measured by number of passengers carried, operating domestic and international scheduled services. Easy Jet has grown through a combination of acquisitions and base openings fuelled by consumer demand for low-cost air travel. Ryanair another budget airline is currently Easyjets biggest competition. EasyJet has adapted cost-cutting measures such as not selling connecting flights or providing complimentary snacks on board.The key points of this business model are high aircraft utilisation, quick turnaround times, charging for extras and keeping operating costs low however EasyJet flies mainly to primary airports. EasyJet also focuses on attracting business passengers by offering satisfied services such as the Flexi fare which allows free of charge changes to th e flight within a window, warm boarding and a checked in bag. General environment International dimension According to copper and Daft (2009), general environment is layer of environment that affects the arrangement indirectly. It includes external factors that are not within an organization.One of the dimensions, international dimension is referring to factors that arise from foreign countries that will affect an organization. Factor that will each be an opportunity or threat to an organization will include having to encounter competition globally. An organization will have to face international competitors where it trade on its own even though not involve in exports and operates domestically. Besides, it would be essential to learn to adapt to the changes and trend circulating around the world as technology advances as time passes and political events such as Iraq war.Apart from that, rise of economic power of China has a significant impact on the international economy overd ue to the massive workforce, brainpower, people dynamics and abundant natural resources that many countries rely on. The always changing worldwide environment has very large impact on organization compared to domestic environment, demanding for great control of the organization. What is a competitive proceeds A competitive returns could be defined as a unique position a firm develops in comparison with its competitors (Hyvonen 1995, 334).It is imperative for firms to understand what its competitive vantage is and take advantage of them as it can change rapidly (Anthony, Perrewe, Kacmar, 1996, p. 468). One of the ways to create a competitive advantage could be, through lower prices or differentiation (Woodruff 1997, 139). Lower prices is a competitive advantage when a firm is able to sell their product cheaply to consumers. Lower prices may be dependent on lower costs, however lower cost itself is not a competitive advantage as it should come along with lower prices for the advant age to be formed (Kotha, Vadlamani 1995, 76).Differentiation can be achieved through, providing superior goods and services, through the firms image, flexibility, total supplies and speed (Kotha, Vadlamani, 1995, p. 76 Sashi, Stern, 1995, p. 126 Helms, Ettkin, 2000, p. 1) Easy jet as a buget airlines has set its competitive advantage through lower prices. How The International Dimension Impacts Easy Jets Competitive Advantage There are many ways in which the International Dimension has affected Easy Jets Competitive Advantage. After the 9/11 attacks the airline industry suffered extensively. Passengers opted to use less of the big airlines.This allowed Easy Jet to be more successful as passengers were choosing their services over the big Airlines in Europe. When the number of people who used Easy Jets services increased it would have allowed the airlines to spread their fixed costs, which in turn reduces overall expenses and meant that they were in a position to lower their prices t hus impacting their competitive advantage in a positively contributing to the overall success of Easy Jet. (Easy Jets Market Structure 2012) other factor in the International dimension that affects Easy Jets competitive advantage as that EU had ruled an Open Skies agreement which meant that Easy Jet was given the choice to serve flight paths that may have been normally associated with some specific airlines. This allowed them to choose the routes that they preferred allowing them to choose routes that gave them the most benefits. (Easy Jets Market Structure 2012) Easy jet is also influenced by rising fuel prices. Increased fuel prices meant that the broad(a) airline industry around the globe and Europe had raised their prices.However, increasing fuel prices meant that even Easy Jet had to raise the price, and this does not work well with their low cost, low price strategy. Therefore there is a negative and positive effect by the rise of fuel prices (Topham 2012) Conclusion In conc lusion, the international dimension of the general environment represents event originating in foreign countries as well as opportunities for Easy Jet in other countries. International dimension affects competitive advantage in various way. Easy Jet has proved to be robust and competitive in a tough general environment.This is due to its large competitive advantages, which is its low cost prices. However, it is the report on the overall international dimensions which affects the competitive advantages of Easy Jet shows that Easy Jet is a highly successful company, which is expanding rapidly. 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