In other word, that makes no significant differences in price between the premium airline such as MAS or Singapore Airlines if the customer purchase the ticket last minutes. Furthermore, landing charges can be identified as the negative aspect resulting into underdevelopment of the airline industry as the aviation sector is strictly obligated to abide by precise air rights regulations and norms. Another important strategy that Air Asia will consider enhancing is improving Information Technology (IT) services in the company, as well as in the aeroplanes. It must have a good relation with hotels and tourism companies around Asia. Porters Five-Forces Model of competitive analysis is widely implemented by most of the company to progress their strategies in many industries. Student Life Saviour is a prominent name in providing assignment, essay and dissertation help services to students. The important thing the buyers look for is the fly to destination which shows the strong bargaining power of buyers. After an in-depth study of the swot analysis of AirAsia, weve concluded that AirAsia is indeed the worlds leading low-cost airline. Airlines allowed to increase ight operations, with strict Maximising revenue in a reduced capacity/ competition 2020 environment 14 74,642 mil 45-60% of 2019 85% of 2019 Moreover, it also provides numerous opportunities to travel and explore overseas, developing skills for new cultures. All work is written to order. Competitiveness Points of Air Asia. The portions of income of an individual earns is the factors because when the portion is high, the more customers will look for cheaper price, hence the bargaining power of buyers will be strong. The airline offers 0.023 dollars per seat kilometer fare to its customers, and it is the worlds lowest airline fare. Air Asia Competitors There are several brands in the market which are competing for the same set of customers. As increasing in the number of airline competitor such as Jet Star and Tiger Airways which are also promote low cost fare may decrease the shifting cost of the customer lead to decrease of Air Asias customer loyalty. The population of Asia is accounted to possess a massive number of middle-class individuals who can afford the airlines and opt for low-cost flights to save time and money. The bargaining power of buyers is strong because most of the customers for Airlines Company are individual travellers instead of travel in group. Air Asia has expanded their product line by not only sales ticket but also offering tourism package which is offering hotel booking while booking the ticket. AirAsia participates in a lot of price-based promotions. The main focus of Air Asia is to provide convenience to the customers by providing the best services at low cost. AirAsia was named as the best low-cost airline company in the world for 9 consecutive years at the Skytrax World Airline Awards. in the worldTherefore, in the increasingly competitive market, AirAsia flies to more number of destinations in comparison to its competitors. Start-up Cost is high. Fixed Cost is high. The airline brand should exploit these circumstances. The increasing cost, competitors, and limited international destinations are some of the main challenges. Back in the 1900s Thai National Airlines was the only airline that could fly in the main routes of Bangkok Chiang Mai with non-stop flights. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. The market has confronted critical competition in the form of new competitors who have also introduced low-cost flights. Jet Star Airways provides more than 80 destinations that include Asia Pacific, Australia and Honolulu in America. AirAsiastop competitorsareAir India,American Airlines,Emirates Airlines,British Airways,Delta Airlines, Tiger Airways, Silk Air, Jetstar Airways, and many others. The company has partnered with the worlds most famous maintenance providers to ensure its passengers safety. Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Such events and teams have got millions of fan following, when an airline sponsors a team or an event, then it allows the company to reach new customers. Comment * document.getElementById("comment").setAttribute( "id", "a896926ff00456d33666396e451bba6e" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. gained a smart rating of 54 whereas Malaysia Airlines has gained the rating of 85 which, signifies the contrast of both the airlines in terms of acceptance of the services and feedback by the customers (Holiday.My, 2018). Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Airasia are now facing competition with approximately 59 low fares airline such as JAL Express, Tiger Airways, Air Arabia, JetStar Airways, and etc. Secondly, microanalysis has also been conducted for AirAsia with the help of PORTERs five forces model. Like Manchester United, Queens Park Ranger, Jamshedpur FC, Singapore national football team, Malaysia national football team, and others. The other supplier such as fuel supplier, merchandise supplier, or food supplier may be depend on market condition. As per the past experiences and the feedback of the customers, Malaysia Airlines are found to react their destinations on time in comparison to AirAsia. The AirAsia Big Loyalty Program is one of the companys most popular campaigns, in which affluent customers win BIG points for any purchase they make and redeem those points for free airline tickets. In accordance with the increased demands, the options available for flying has also increased, and hence, the bargaining power for buyers is examined to be high for Air Asia. Swot Analysis of AirAsia Berhad. The company makes use of innovative solutions in order to provide low-cost aviation. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. DRB-HICOM, a government conglomerate laid the foundation of AirAsia in 1993 and it became operational on Nov 18, 1996. Aircraft supplier could be the one who gaining most bargaining power as there are only two in operation, Boeing or Airbus. Air Asia also engages itself in the promotion of the company through social media, print advertisements, and effective billboard advertising (Mele, Pels and Storbacka, 2015). The companys primary focus is to build customer value. Quizzes test your expertise in business and Skill tests evaluate your management traits. AirAsia has expanded its routes to different countries all around the world including Indonesia, China, Singapore and the Philippines. This LLC trend has saturated the customer market, and it has declined the overall profitability of AirAsia. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. The two closest competitors that are considered against AirAsia include Jet Star Airways and Malaysia Airlines (AirAsia, 2018). Study for free with our range of university lectures! Airasia may be small portion of customer whom orders 200 aircraft from the total 9,113 aircraft order from other customer of Airbus. In addition to this, the IT management of AirAsia adopts precise and effective approaches to ensuring the convenience of its customers (AIRASIA.COM, 2017). The company cannot control a number of charges and costs which are regulated by government and airline authorities which may result in a significant loss in profits and consistency of the organisation. This has raised the threat of substitution for Air Asia, as in any case of customer dissatisfaction or unavailability of service, it will be easy for the passengers to shift to some other airline company. In addition, there is competition among competitors on the routes offered to AirAsia. Switching Cost is low. The Essay Writing ExpertsUK Essay Experts. Air Asia comprises of a capable and dedicated customer care team, which is committed to resolving the complaints by the customer as soon as possible. The company makes use of robust enterprise resource planning system, which allows it to successfully maintain process integrity, speeds up reporting, and data retrieval process. There are a lot of operations that are conducted by the company as it is spread across 25 countries in more than 160 destinations. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors. Rise of Other LCCs in Market. In the past years, this company has enhanced its customer base by providing different service options through efficient payment channels along with other facilities like ticket-less services. Air India, Emirates, and many other Asian airlines have also started following the low-cost carrier strategy to attract market share. Consistent complaints concerning services and facilities may result in a downfall for the organisational reputation and prioritisation. Air India to discontinue Vistara after merger, DS Group Partners with Lderach (Swiss Chocolate Maker), Castrols unveils a New Logo and a Refreshed Brand Identity. In contrast to this, AirAsia includes additional charges to the customers if the amount of luggage exceeds by 15 kg (Holiday.My, 2018). Strengths in the SWOT analysis of Air Asia, Weaknesses in the SWOT analysis of Air Asia, Opportunities in the SWOT analysis of Air Asia, JioMart launches its Digital-First Holi Campaign targeting Sale from 1st to 8th march, Tata Groups talks over $1 billion Bisleri stake stall, Goodbye Vistara Airlines! I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Furthermore. Direct competitors market the same product to the same audience as you, while indirect competitors market the same product to a different audience. Let us now get into its marketing strategy. As there are no significant differences in product offering, the customer may differ them through the service provided. The Threat of New Entrants In the business of airlines, the loyalty of the customers is found to be weak. The company was established in 1993, and the official operation of the company was started on 18 November 1996. Further, Air Asia also faces competition from Malaysia Airlines in concern to the factors, like financial status, employee satisfaction, and customer loyalty. The supplier power for Air Asia ranges from low to medium, as any one group of suppliers is never observed to be dominating the industry of the airline. WebEducational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.) Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler) Rich Dad, Poor Dad (Robert T. Kiyosaki) Air Asia Strategic Analysis The paper is prepared to analyse the strategic management of AirAsia which is A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Do check out our Free Digital Marketing Masterclass by Karan Shah. The introduction of ASEAN open skies policy facilitates opportunities for expansion and generalised airline regulations among the south-east countries of Asia which would benefit the organisation. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. The company provides its services to people of every age group of society, and to the people belonging to the medium and high ranged of income or financial status. WebAirAsia is largest player in June, with 35% capacity market share Indonesia: Easing restrictions as the country step into transition period. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. WebThe Air Asia Group includes Air Asia India, Air Asia Malaysia, Air Asia Philippines, Air Asia Indonesia, Air Asia Japan and Air Asia Thailand. AirAsia is a reputed and leading Asian based airline company, which is headquartered in Malaysia by a government-owned corporation named DRB-Hicom. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. WebStep 2 Identify the competitors of Airasia and group them based on the segments within the Transportation industry. WebAirAsias top competitors are Air India , American Airlines, Emirates Airlines , British Airways , Delta Airlines, Tiger Airways, Silk Air, Jetstar Airways, and many others. Thai AirAsia faces new competitive threats in Thai Lion and Thai VietJet. The first decision by the Malaysian Competition Appeal Tribunal since its inception more than four years ago caught the media and publics attention. WebAirasia are now facing competition with approximately 59 low fares airline such as JAL Express, Tiger Airways, Air Arabia, JetStar Airways, and etc. AirAsia X joins AirAsia Berhad and Thai AirAsia with stock listings. AirAsia is already trying to achieve that by expanding their facilities to hotel bookings, tour packages, etc to try and gain some competitive edge along with diversifying their product portfolio. Multiple ticket distribution networks exist, including internet booking, exclusive reservations, sales offices, and company-approved agents. The Air Asia X mainly focuses on the long-haul routes (Yarimoglu, 2014). The basic product strategy in its marketing mix is its low-cost air services. UNICEF collaborated with AirAsia to raise $ 128 million for the people who were affected by the earthquake in Haiti. The cost may include staff retrenchment fee, paying off the loan or debts and refunds due to flight cancellation so it may expensive for an airline company to leaving the industry. The bargaining power of buyers is strong when the switching cost of airlines is low. SIA introduced 2 budget airlines; ValuAir and Tiger Airways.. Focusing on providing air travel without frills at substantially lower prices, AirAsia has managed to achieve lower prices to attain high passenger loads, market share, and profitability by eliminating provision of AirAsia Airline As the best low-cost passenger. As there are no significant differences in the price compare to Air Asias competitor such as Tiger Airway and Jet Star as mentioned earlier, their customer do not need to spend more to shift to another airline. Use Slintel to connect with top decision-makers at AirAsia. The cost-cutting strategies of AirAsia are effective and beneficial in terms of financial growth and maintenance (Ahmad and Neal, 2006). He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Build a competitive intelligence sales and marketing strategy based on the data Airasia had expanded its services provides to hotel booking as it already has its own hotel (tune hotel) which located not far away from its airport, and tour packages. Web- High margins compare to Airline industry's competitors - Even though Airasia is facing downward pressure on profitability, compare to competitors it is still racking in higher profit margins. The importance of pricing strategy is to know the strategies that are used in the market and to analyse the rivals that are present for Air Asia n the airline industry (Shaw, 2016). They have been a major player in the low-fare airline industry and have connected over 88 countries together. The complaints received by the organisation are identified to be the consequences of low prices as the organisation may face critical problems in ensuring service and assistance with the low-cost flights. Free resources to assist you with your university studies! Air Asia is known for its low pricing, as well as a no frill policy. Similar service provided among every airline company so the competitive may be fierce. The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. Hence, customer may access to the current airlines information which are available at all time, this has reduced the power of negotiation for airlines and producing a strong customers bargaining power. Increasing globalisation has led to an increase in the lifestyle and financial condition of people. 2.1.2 Pest Analysis PEST analysis is a useful tool for scanning the general environment. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. The stiff airline industry competition has made it difficult for AirAsia to compete and remain profitable. The distribution channels for the tickets include different sources such as internet ticket booking, exclusive reservation, and sales offices along with the agents that are authorised by the company. They hence practice geographic segmentation by focusing their services primarily in Asia, Demographic segmentation- Being a low-cost airline, they cater to people in the low to medium income group, Psychographic segmentation- Their main customer is the cost-conscious traveler, AirAsia provides service packages to its customers at a very reasonable charge that is affordable to the customers in comparison to JetStar Airlines, JetStar is providing more payment options or gateways to its customers, AirAsia provides services to 130 destinations as compared to JetStar which provides services only to 80 destinations, Malaysia Airlines generates 113% of AirAsias revenue, Malaysia Airlines also has fewer employees, at 7,159 compared to AirAsias 20,000, AirAsia is the low-cost airline leader in the Asian market, The company has subsidiaries in Indonesia, Thailand, the Philippines, and Japan, It boasts a fleet of nearly 300 aircrafts, AirAsias positioning is steady and consistent in being a low-cost airline. Here are the weaknesses in the Air Asia SWOT Analysis: 1.Not on too many routes as compared to market leaders 2.Stiff competition in its sector. Use fundamental and technical analysis of AirAsia Group and its peers Please click here if you are not redirected within a few seconds. In this context, Air Asia will be focusing on the use of the strategy of service innovation as it is the best strategy to effectively implement the factor of providing new and enhanced services to passengers at low cost. Air Asia is known for treating its employees and customers well. The following are strengths and weaknesses of AirAsia: 1. WebCompare AirAsia against competitors. It is an international air travel carrier that started its flights in Malaysia and expanded its base globally. WebAirAsia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ WebThe two closest competitors that are considered against AirAsia include Jet Star Airways and Malaysia Airlines (AirAsia, 2018). In the similar context, Air Arabia provides the facility of carrying extra baggage for passengers, and this makes Air Arabia a preferred choice over Air Asia. In order to build buzz, cheap flight tickets are given out based on demand in the form of promotional schemes. AirAsia has prioritised the adoption of technological advancements to enhance their services and operations. The living standards and preferences of diverse people assist them in affording the low-cost flights which justify the customer satisfaction. In addition, rates are determined by the class of flight, airline load factors, travel dates and days, and competitor pricing in the airline industry. AirAsia uses anchor pricing to offer incredibly low rates on its services and fares, enticing consumers to consider traveling with the airline. It employs an anchor pricing policy, which establishes a baseline for pricing all AirAsia-operated flights. Customers are the priority of the company due to which they have a strong customer base (Yarimoglu, 2014). The focus of AirAsia was on maintaining its low-cost policy and in context to that AirAsia X was launched in 2007. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This is act as a barrier of entry for the competitor as there are high in capital requirement such as set up of headquarters, purchasing or hiring aircraft, appointment pilots and other staffs like air supervisor. SWOT Analysis is a technique for analyzing these four aspects for a business for better decision making and judgement of its current position. The cheap flight tickets are given to the customers on the basis of the demand in the form of promotional schemes. WebAirAsia Competitors Specify up to 10 symbols: WH REGN XHR NVO VRTX HOG IHG rprx Sophisticated investors, who have witnessed many market ups and downs, frequently The first main hub of AirAsia was launched in Kuala Lumpur and Malaysia, and it was known as Low-Cost Carrier Terminal (LCCT). AirAsia X was regarded as having the worlds best low-cost airline premium seat and the worlds best low-cost airline premium cabin for five consecutive years (AirAsia X, 2018). Besides @flyairasia and Thank you very much Mr. Hitesh Bhasin for this SWOT analysis. See insights on AirAsia including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. 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