What are the advantages and disadvantages of fractional jet ownership from your perspective?
Fractional jet ownership is a unique arrangement associated with some merits and demerits depending on the needs of the users. For instance, some advantages include the fact that the owners do not have to worry about unpredictable expenses, good relationships with pilots and crews, few worries on management and maintenance issues, and the possibility of enjoying the comfort and features of the preferred plane model (Patiky, 2013). However, fractional ownership has some disadvantages such as a limitation on airplane models; long-term contracts may be associated with usage restrictions, the need to pay even when someone is not using the plan, and restrictions on flight and passenger range (Patiky, 2013). The selection of this method over other options such as chartered flights, jet cards, or real ownership relates to the consideration of such factors.
Question 1
The CEO of NetJets has aired his views that fractional ownership is not a wise decision, unlike the full ownership. For instance, the company will control fractional ownership of the aircraft and the person owning it will be denied various privileges enjoyed by those with full ownership (Freed, D. (2011). Individuals or companies with fractional ownership of the aircraft will not travel to risky areas, as the company will regulate and determine areas they can visit. Moreover, owners will not fire crew in case of any misunderstanding with fractional ownership. However, the concept of shared risks and resources while running the aircrafts make shared ownership somewhat attractive.
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Question 2
If was to own a fraction of an aircraft, I would travel to the tourist attraction sites where I would spend nice moments watching animals and enjoying the fresh air. I would focus on visiting various destinations in Africa such as the Masai Mara and Serengeti national parks in Kenya and Tanzania. I would spend most of my time in such places watching animals in their natural habitats. My choice is informed by the fact that they are the most visited destinations and they have many animals. I well enjoy seeing animals, which are not currently present in my country. The aircraft would ease my movement.
Question 3
In any activity that an individual or organization perform, OM concepts are considered. When an individual is spending time and resources in a certain activity, he/she is expecting satisfactory results. The same concept applies to my chosen destination to visit (Freed, 2011). Organizing various aspects of travel and tours, linking and connecting tourists in their planes to their destinations, and planning for their accommodation characterizes the essentials aspects of OM.
Question 4
Flight services are very important and expanding type of business globally. The business is not exceptional, as it requires marketing like any other business. With the current digital transformation, the best marketing option for the flight services is online marketing. Currently, all the activities related to flight services are contacted through online transactions ranging from marketing and advertising to selling of tickets globally (Banafa, 2016). Considering that every transaction is conducted online, the best mode of marketing is online marketing through social media, websites, YouTube and many other platforms. The larger percentage of the target group is the youth and the adults who are well informed with social media and other platforms.
Question 5
In my analysis, IoT will be a new marketing revolution in future. IoT has different types of data and information, which will help organizations working in smart homes, hospitals, emergencies, and communities to undertake their duties. In future, different businesses might consider offering details about their business to be stored in the platform (Banafa, 2016). The information can be accessed by different individuals and organizations interested in the products and services offered by the organization.
References
Banafa, A. (2016). The Last Mile of IoT: Artificial Intelligence (AI). OpenMind . Retrieved on 28 Nov. 2017 from https://www.bbvaopenmind.com/en/the-last-mile-of-iot-artificial-intelligence-ai/
Freed, D. (2011). Ride Sharing with the Rich: How fractional jet owners get out of flying coach. Air & Space Smithsonian . Retrieved on 28 Nov. 2017 from http://www.airspacemag.com/flight-today/ride-sharing-with-the-rich-27330966/#xVLcO4ZY9q4Xr6rf.99
Patiky, M. (2013). Ups and downs of fractional aircraft ownership. Forbes. Retrieved on 01 Dec. 2017 from https://www.forbes.com/sites/businessaviation/2013/10/08/ups-and-downs-of-fractional-aircraft-ownership/#205c1b5d3086
