Easy jet airline

Topics: Marketing, Low-cost carrier, Strategic management Pages: 7 (1509 words) Published: October 20, 2014


Easy Jet Airline

TEAM MEMBERS:

Name
Team Member #1
Qymi Sheng
Team Member #2
Will Huo
Team Member #3
Ann Chiang

Short History of the Easy Jet:
Easyjet is a successful example of a European no-frills airline, founded by the Cypriot Stelios Haji-Iaonnou in 1995, with the vision of creating a customer focused brand that would revolutionize the concept of air travel. More than fifteen years on, easy Jet is Europe’s leading airline, and the UK’s largest, carrying over 55m passengers a year.

Customer knowledge of the company:
EasyJet is a public limited company which falls under an oligopolistic market structure and operates across the European continent with the vision of turning Europe orange. Their mission statement is “To provide our customers with safe, good value, point-to-point air services. To effect and to offer a consistent and reliable product and fares appealing to leisure and business markets on a range of European routes. To achieve this we will develop our people and establish lasting relationships with our suppliers.” (Rae, 2001). They are also a no-frill airline operating mainly in Europe, with their headquarters based in Luton, the UK and it employs around 6,107 employees. Marketing Mix:

Product:
Product is anything that can be offered to a market to satisfy a want or a need. It is the core ingredient of the marketing mix and is everything favourable and unfavourable, tangible and intangible received in the exchange of an idea, service or good. Easyjet is a business offering service products, flights across destinations, in the transportation industry. Easyjet operates over 500 routes and has 182 aircrafts in 28 countries. Easy-Jet positions itself as low-cost airlines or better as cutting costs airlines. Its product strategy stops to the actual product without concern about the augmented product. They don't offer service at all but just the ticket. For example Easy-Jet's product strategy ends at the expected level of five-product levels. There is no augmented product. There is no business seat on flights only offer a mono class of seat but does not offer last minute deals, no executive lounge at airports, no free food and drinks and no entertainment on flights, and in most cases Easy-Jet flies from major airports. Price

Price is the value placed on what is exchanged during the marketing process. Easy Jet offers fantastic value; on average they fly you 1100km for ₤45 /€50. That’s cheaper than any other airline which flies to centrally located airports. The customer exchanges his/her money or donation in return for a satisfaction or utility. Easyjet has always had a one-way ticketing policy. The airline has only one price in the market for any one flight at any one time. The lowest fare is offered into the market first and then prices rise as the departure draws closer and the seats are sold. This ticketing philosophy is transparent to consumers. There is a “value for money” offering, which is easily understood by consumers. By offering only one price in the market, the consumer is confident that “shopping around” using other channels or making greater ticketing restrictions will not reap the reward of lower fares. As the airline educates their consumers that the cheapest fares are sold first, consumers checking prices are more likely to purchase straightaway as they will have confidence that lower prices are not likely to appear later. The airline only sells tickets on a one-way basis and therefore if a passenger wants a return ticket they must buy two one-way tickets. The advantage of this for passengers is that they can book short stay trips without having to pay flexible return ticket prices. For business travellers the availability of flexible tickets is usually considered important. If a business meeting runs over the traveller needs to be able to change their ticket and take a later flight. This depends on two things. Firstly the ability to change the ticket, and secondly...


References: Press information kit - Europe by easy jet (2012) Available from
http://corporate.easyjet.com/~/media/Files/E/Easyjet-Plc-V2/pdf/content/press-info-kit.pdf (accessed 15 Oct 2014)
UK Essays - Markets Segmentation And Market Mix Of Easyjet Marketing Essay (2013) Available from
http://www.ukessays.com/essays/marketing/markets-segmentation-and-market-mix-of-easyjet-marketing-essay.php (accessed 20 Oct 2014)
Hitesh Bhasin - Service Marketing Mix of Easy Jet (2012) Available from http://www.marketing91.com/service-marketing-mix-easy-jet/ (accessed 20 Oct 2014)
Bukisa - Competitive Strategy And Marketing Mix of Low Cost Carriers (Ryanair And Easyjet) (2012) Available from http://www.bukisa.com/articles/706785_competitive-strategy-and-marketing-mix-of-low-cost-carriers-ryanair-and-easyjet (accessed 20 Oct 2014)
Fseh - Easyjet Market Analysis (2011) Available from http://www.studymode.com/essays/Easyjet-Market-Analysis-647733.html(accessed 20 Oct 2014)
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