The airline transport industry accounts for more than 5 percent of GDP in most of the states. It facilitates the transportation of cargo, people to different destinations all-around the year. Land, labor, capital, and entrepreneurship are the determinants of economic growth. One of the factors of production, in this case, is labor, which includes pilots, flight attendance, maintenance personnel, and cleaners. With this, the industry becomes a direct function of factors of production. It accounts for all staff, such as flight attendants, pilots, customers’ services, and cleaners. Services provided by them are crucial in maintaining growth and sustainability. The airline is capital intensive since they are involved in leasing types of equipment and facilities to help in their operations. Another crucial aspect is the land which in this case it the airport where all activities take place. In such cases, factors of production are vital in the sustainability and growth of this industry since they are directly independent of one another.
The 4 P’ of marketing also plays a significant role in the survival, growth, and overall success of the airline industry. Product marketing in the airline industry is associated with the quality of services, its features, and the range of activities available. In such a case, the airline must offer packages to customers, which will promote its airline brand name. Price is essential in attracting more customers; hence the airline indulges in providing discounts and commission, which increases customer loyalty. The promotion also contributes to survival and success of the airline since its presence is visible in all media advert. The more place destination offered by the airline will determine the number of customers. With this, it is clear that the 4 P’ of marketing has a significant role in the success and profitability of the airline industry. However, their overall aim is to ensure that they remain competitive in this industry by attracting and retaining more customers.
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