This is a solution of Strategic Ana Assignment[A8] in which we discuss Developing business strategy can help your company cope with aging systems and limited resources that can lead to fragmented Business solutions.
The entire study mainly emphasis on the strategic analysis of the Buddha Air to make a proper marketing plan in the context of business expansion. Moreover, this study also enlightens on the macro and micro environmental analysis for evaluating various significant factors of business, which influences a business development positively. Apart from this, the study also focused on the internal strength and weakness analysis of the organization for assessing their future opportunity and threats. Moreover, the entire study keeps a focus on the marketing mix to develop various marketing strategies for the organization in the context of service expansion based on organizational development. Finally, it can be said that the study keeps an eye to the establishment of a marketing plan to develop the service selling within the target market.
The study mainly focused on the development of a marketing plan for a domestic airline organization called Buddha air. The organization mainly associated with the service providence of the flight service within Nepal region. However, the service provided by this organization was mainly based on the domestic purpose. Apart from this, the organization focused on the expanding of its airline service to international flight routes (Buddha Air, 2019). Besides, another service provided by the organization was called Cargo service. As per the cargo service facility the organization promises to deliver important documents to the nine destinations outside Kathmandu. In the present situation, the organization wanted to expand its service to the other markets for more revenue generation. Therefore, it can be said that the core aim of this study is to make a proper marketing plan for the organization by evaluating various environmental and business-related factors.
The macro environmental analysis mainly stands for the analysis of six significant factors of a country or business market which helps to asses future opportunity and threats for an organization. Therefore, it can be said that if Buddha Air conducted an environmental analysis before making a marketing plan for expanding their business can be benefited. However, this environmental analysis helps the organization to understand about possible business profitability for future based on below factors such as
· Political- Political factors of a country mainly associated with the government intervenes which helps to understand the current situation of the economic condition of the market. Moreover, political factors may include government policies, political stability, tax policy, foreign trade policy etc (Sheehan & Bruni-Bossio, 2015). Therefore, it can be said that by analyzing the political factors of a country Buddha Air can analyse their future profitability along with business sustainability.
· Economical- The economic factors mainly helps an organization to understand the economic performance or sustainability of a country or business market. However, the economic factors mainly deal with economic growth, disposable income, exchange rate, unemployment etc (Marandu, 2015). Therefore, it can understand that by analyzing the political factors Buddha Air can understand their future business growth along with profitability. Besides, it also can be said that the analysis of the economic factor helps an organization to measure threats in the context of profitability based on inflation or interest of that particular country.
· Socio-cultural- Socio-cultural factors generally deal with the norms and customs values of the peoples of a particular country or market. Moreover, these factors mainly associated with the population growth rate, cultural barriers etc. Therefore, it can be analysed that such kind of factors helps an organization to develop its product and service as per the cultural norm of local peoples.
· Technological- Technological factors mainly deal with the technological infrastructure and advancement of a particular country. Moreover, it also stands for the digital service trends of a country (Marandu, 2015). Therefore, it can understand that before making a marketing plan for business expansion Buddha air must analyze the technological condition in the context of measurement of business sustainability.
· Environmental- The environmental factor mainly deals with government policies related to environmental sustainability and climate preservative thoughts. Therefore, it can be said that by analyzing such kind of regulations Buddha Air would be able to understand what needs to be developed of their service to maintain the government rules.
· Legal- Legal factors mainly associated with the discrimination law, consumer protection law etc that helps an organisation to understand the corporate and public sector culture of a country or market. Therefore, Buddha Air needs to analyse the legal factors in the context of maintaining the legal rules for business sustainability.
The micro environmental analysis also helps an organization to assess their possibility of gaining competitive advantage along with business sustainability. However, the micro environmental factor mainly associated with some significant factor which helps to deal with competitors of an organization along with stakeholder relationship development (Turley, Cremasco & Astarita, 2015). The factor mainly includes
Moreover, it also can be said that the analysis of microenvironmental factors helps Buddha Air to analyse about the activity of their competitors to overcome the coming challenges. Besides, it also can be said that the analysis of these microenvironmental factors helps the organisation to develop a relationship with their distributors and suppliers in the context of supply chain development.
SWOT analysis mainly helps an organization to analyze its internal infrastructure by evaluating their strength and weakness. However, based on their strength and weakness this analysis helps the company to asses' future opportunity and threats for their business sustainability (Bohari, Hin & Fuad, 2017). Therefore, it can be said that to make a proper marketing plan Buddha Air need to analyze their internal strength and weakness based on their service providence.
Target market- The targeted market of the Buddha Air must be the entire region of Kathmandu to expand their service of cargo delivery. However, the region of Kathmandu can provide lots of benefits to the organization as it was the capital of Nepal. Moreover, the geographical location of the Kathmandu helps the company to expand its service to the entire region (Nella & Christou, 2016). On the other hand, it also can be analysed that the demographics of the region provide the company with lots of profitability because most of the people of Nepal region mainly lived in Kathmandu. Besides, it also can be said that the geographical location of this place cannot allow peoples to deliver their significant materials to another region fast in the context of the poor transportation process (Wedel & Kannan, 2016). Therefore, it can be said that the cargo service of this company provides lots of benefits to the people for delivering their significant documents and other materials safely to their expected region faster.
Positioning- Positioning mainly helps an organization to make a good image of their product and service to the mind of the consumer by evaluating various factors regarding the product and service. However, the Buddha air must evaluate some significant factor about their airline service to make a good image to the consumer’s mind which helps the company in business expansion. The positioning factor must include
· Convenience- It helps to deliver the services to the customers until the customer would be satisfied.
· Capabilities- It helps the consumers to understand the capabilities of the organization for delivering quality service to them (Lovelock & Patterson, 2015).
· Variety- By evaluating this factor an organization easily make the customers understand about the service variety of the company.
· Value- It helps the customers understand about the service value of the organization along with customer importance to them.
· Reliability- This factor helps an organization to prove the service reliability to the consumers by evaluating significant business factors.
· Safety- By evaluating the operational safety an organization can improve its service selling within the business market.
The analysis of the marketing mix mainly stands for four significant factors which help an organization to understand their current market position. Moreover, the marketing mix analysis helps Buddha air to conduct a strategic evaluation of their existing service which helps to measure the quality of service. However, the organization can develop some business strategies by analysis of the marketing mix which mainly includes
The product mix mainly stands for an item produced by any business to satisfy the needs of the consumers. Moreover, this mix helps to understand that product is mainly stands for the item which needs to sell in the market by an organization to make profitability. Moreover, the product mix helps to understand about the product lifecycle along with various phases of its development (Fan, Lau & Zhao, 2015). Besides, the product lifecycle also helps to understand how a product is manufactured and how it would become saleable to the market. However, the product of an organization can be both tangible and intangible which helps to identify the stages of its development.
However, as per the product mix of the Buddha air, it can be recognized that Buddha air mainly deals with intangible products. Moreover, the current product of the organization generally divided into two types such as airline service and cargo delivery. Moreover, the product mix also helps the organization to measure their service quality to satisfy customer demand. Therefore, it can be said that by analyzing the marketing mix Buddha air can understand about the product lifecycle by which they can measure their potentiality. On the other hand, it also helps the organization to develop its operational activity to achieve a competitive advantage.
In the marketing mix price recognized as the significant factors which the customer pays for any product and service. Moreover, the pricing mix helps an organization to develop its pricing strategy to grab the business market profitability. On the other hand, by analyzing the pricing mix an organization also can understand the pricing strategy of its competitors to develop their existing pricing of the product or service (Wongleedee, 2015). Therefore, it can be said that by analyzing the pricing mix Buddha Air can understand the improvement area of their service to achieve the competitive advantage along with generating more revenue than previous. Based on the current pricing of services of the Buddha Air the organization must follow some pricing strategies to develop their service sell such as
Psychological pricing- This pricing strategy helps the organization to attract the customers' attention in the context of a sale increase. As an example, if the organization sets a price of their service like 499$ instead of 500 $ can be able to attract customers attention more than previous.
Promotional pricing- Promotional pricing strategy also helps an organization to attract the customers’ attention to their product and service based on their promotional offers. Therefore, it can be said that if Buddha Air can implement some promotional pricing strategy can be able to sell their service to the consumers based on the selected discount offers.
Place mix helps an organization to select a proper place for their product and service distribution for grabbing the best customer experience. Moreover, by analyzing the place mix an organization can understand the various fruitful distribution strategies for product or service sale. Besides, it also helps to analyze the intensity of the existing distribution strategy of the company for selling its service to the business market. On the other hand, the analysis of place mix also influences an organization positively to develop its distribution strategy in the context of competitive advantage achievement (Mohammad, 2015). However, it can understand that the place mix helps an organization to improve its place strategies by evaluating how a service can be available to the customers in the context of a sale.
Likewise, it can understand that by analyzing the pricing mix Buddha Air can improve their place strategies to increase their distribution intensity. However, the strategies must include some significant factors like selective distribution, intensive distribution and exclusive distribution. Apart from this the organization also can include direct and indirect distribution for developing the distribution intensity of their service.
Promotion mix helps an organization to understand the promotional strategies which help to promote a product and service to the market. Therefore, it can understand that this promotion mix helps an organization to find out the ways by which they can send their service to the consumers. However, promotion mix mainly associated with few significant mediums for promoting any product or service of a company to the business market such as advertising, social media outreach, sales promotion (Ahmed & Rahman, 2015). Besides, it has been identified that Buddha air mainly applied for the advertising promotion through media for their service sale. Therefore, it can be said that this promotional mix helps the organization to develop its advertising strategy through the utilization of media channel in the context of a service sale increase.
From the above study, it can be concluded that the entire study mainly emphasized on the development of a perfect market plan for an organization. Moreover, it also can be concluded that to make a perfect marketing plan an organization must need to analyze the business market first by evaluating the micro and macro environment analysis. Apart from this, it also can be concluded that before expanding any service of an organisation to the business market must need to analyse its internal strength and weakness first. Therefore, it can be concluded that by analyzing the strength and weakness the organization can assess its future benefits or threats. Finally, it can be concluded that the study provide a lesion about making a successful marketing plan for organizational development through product or service expansion.
Based on the analysis of the internal weakness of the Buddha Air it has been identified that the organization faced two significant threats regarding safety and sustainability. Therefore, two valuable recommendations can be given to the organization for developing the internal operational process of the company in the context of organizational development such as
· Development of safety management process
Buddha air must keep an eye to the safety management process to develop their operational safety by improving some significant key elements. However, the organization must emphasis on the development of data collection along with database management improvement. It helps to monitor or analyze all the collected data to make a perfect risk analysis. Moreover, the organization must emphasis on the risk management activities along with effective monitoring of safety management. It helps to understand the organization about its quality of safety operational program for consumers. Therefore, it can be said that by developing the safety management process an organization properly monitor the possible risk and mitigate them successfully.
· Implementation of environmental sustainability programs
According to the operational process of the Buddha Air, it has been identified that the organization did not practice any kind of environmental sustainability program. Therefore, it's ranking on the Carbone footprint was too poor. Therefore, the management of this organization must be practised or implement some environmental sustainability program to maintain the environmental or ecological balance. Moreover, such kind of sustainability program also helps to produce some green product which impacts positively on the company Carbone footprint which helps in stakeholder engagement within an organization.
Ahmed, S., & Rahman, M. (2015). The effects of marketing mix on consumer satisfaction: A literature review from Islamic perspective. Turkish Journal of Islamic Economics, 2(1), 17-30.Retrieved from: https://www.researchgate.net/profile/Md_Habibur_Rahman6/publication/272171833_THE_EFFECTS_OF_MARKETING_MIX_ON_CONSUMER_SATISFACTION_A_LITERATURE_REVIEW_FROM_ISLAMIC_PERSPECTIVES/links/54ddae5c0cf25b09b914665b.pdf [Retrieved on 29 April 2019]
Bohari, A. M., Hin, C. W., & Fuad, N. (2017). The competitiveness of halal food industry in Malaysia: A SWOT-ICT analysis. Geografia-Malaysian Journal of Society and Space, 9(1).Retrieved from: http://ejournal.ukm.my/gmjss/article/viewFile/17805/5529 [Retrieved on 20 April 2019]
Buddha Air (2019).Retrieved from: https://www.buddhaair.com/ [Retrieved on 15 April 2019]
Bull, J. W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., ... & Carter-Silk, E. (2016). Strengths, Weaknesses, Opportunities and Threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, 99-111.Retrieved from: http://openaccess.sruc.ac.uk/bitstream/handle/11262/10927/10927.pdf?sequence=2 [Retrieved on 21 April 2019]
Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), 28-32.Retrieved from: http://iranarze.ir/wp-content/uploads/2016/09/5251-English.pdf [Retrieved on 26 April 2019]
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.Retrieved from: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.475.4612&rep=rep1&type=pdf [Retrieved on 24 April 2019]
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