Marketing Literature Review (Singapore Airlines) Essay Example
12Marketing Literature Review (Singapore Airlines)
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Wang, Q. & Xie, J. (2011). Will Consumers Be Willing to Pay More When Your Competitors Adopt Your Technology? The Impacts of the Supporting-Firm Base in Markets with Network Effects. Journal of Marketing, 75(5), pp. 9-76. Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Journals/Journal%20of%20Marketing/TOCs/SUM_2011.5/will_consumers_willing_pay.as px
The behaviors of customers are mostly determined by the nature of the products and other factors such as the prices and quality of the products. A product or brand usually becomes more valuable to people when more and more users adopt it. For firms that are innovating products for the first time, most consumers are reluctant to adopt these new changes unless they prove to be above their expectations. It is therefore the duty of the firms that come up with the new products to ensure that they reduce the uncertainty of consumers and increase the value and demand of their products. At Singapore Airlines for example, the company has been able to ensure that it creates a strong name for its brand to such an extent that when it launches new products, they are easily accepted and used by the customers. This is because the company has been able to eliminate any uncertainties that the customers might have had about their products in the past. The management at Singapore Airlines, just like in any other top firm, has focused on increasing and retaining the size of the user base because this has positive effects on customers. If many people believe in the products and services of a particular firm, then others are likely to be influenced into doing the same.
The willingness of consumers to pay a when the services and products are of high quality and value is very high. Singapore Airlines has embraced the latest technologies which have enhanced the assurance of the consumers concerning the said technology. This technology also intensifies the price competition which has user base increase because of the confidence that they have in the technology used by the airlines.
This article has received a high rating because it is very recent. In fact, it appears in the September issue of the Journal of Marketing. It addresses recent marketing issues and discusses whether the customers will be willing to pay more if they are offered high quality goods and services. The disadvantage of this article is that it seems to concentrate too much on technology and leaving out aspects that lead to customer satisfaction. It fails to put into consideration other factors such as price, service or promotion.
Bharadwaj, S. G., Tuli, K. R. & Bonfrer, A. (2011). The Impact of Brand Quality on Shareholder Wealth. Journal of Marketing, 75(5), p. 3-67. Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Journals/Journal%20of%20Marketing/TOCs/SUM_2011.5/impact_brand_quality.aspx
Brand quality is one factor that affects the choice made by customers. Customers tend to go for brands that are known to have good quality. The author of this article finds evidence that high brand quality is closely associated with the stock returns of a firm. Most managers have been interested in improving brand quality because of the return that such investments can have on a firm’s financial performance. By ensuring that a firm’s brands are of high quality, the levels of the firm’s earnings are likely to go up a great deal. With high quality brands, the intensity of competition in the industry is greatly enhanced. This competition ensures that different players in the industry undertake measures and strategies that will ensure that their brand name stands out. This is because the company has realized that there is a strong relation between stock returns and brand quality. The customers are therefore encouraged to use the services of the firm because they believe in the brand name of the company. This also means that the company will rake in more profits and therefore increase its share value. Managers are therefore advised to invest in creating and maintaining brand quality improvements so that they can attract and retain customers and also increase their earnings and enhance competition. At Singapore Airlines, the management has focused on creating and maintaining a high quality brand name that attracts customers on its own. A strong brand name is likely to ensure that customers are satisfied because a company will want to maintain it brand name and this will influence the choice of customers.
This article has received a rating of 4/5 because of being very recent and addressing an issue that is directly related to marketing of the products and services of a firm. The article also appears in the September 2011 issue of the Journal of Marketing, making it very current and up-to-date. The disadvantage of this article is that it tends to assume that brand quality that leads to automatic customer satisfaction. It also fails to consider the factors that influence the choice of customers such as price and the service.
Bruggen, E. C., Foubert, B. & Gremler, D. D. (2011). Extreme Makeover: Short-term and Long-term Effects of a Remolded Servicescape. Journal of Marketing, 75(5), p. 6-92. Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Journals/Journal%20of%20Marketing/TOCs/SUM_2011.5/extreme_makeover_servicescap e.aspx
Extreme make overs create an effect that makes customers either be attracted to the company or choose other companies. As a result of high competition, many businesses resort to completely changing their outlook so as to gain competitive and differential advantage over their competitors. Remodeling the outlooks of a firm’s brand has proved to work for many brands. The existing physical and brand environment is referred to as the servicescape. Millions of dollars are spent every day by firms in trying to design, build and furnish their firms and establishments. High quality servicescapes are often associated with high customer spending as a result of the perceived service quality. The performance of any firm that has remodeled its servicescape has proven to be higher than before the servicescape was remodeled. This is the case at Singapore Airlines, which believes in high quality servicescape for attracting and reatianing customers. If an organization has a high quality servicescape, then the quality of its products and services is also likely to be high. At Singapore Airlines, image is everything, starting from the offices, the crew, the lounges, the airplanes and everything else in the firm. A high quality servicescape usually reflects on the quality of services and products that are offered by an organization.
The reason why this article is rated 3/5 is because it is current and addresses an issue that generally faces all firms that are engaged in business. The importance of brand quality to any firm cannot be overlooked, regardless of the product or service that the firm offers. The disadvantage of this article is that it assumes that having a complete makeover will automatically lead to customers believing that the company offers high quality services.
Miller, F. P., Vandome, A. F. & McBrewster, J. (2010). Singapore Airlines. New Jersey: Alphascript Publishing, p. 12-102.
Customers are mostly attracted to certain brands depending on a number of factors. These factors include the price, the service and the promotion methods used. The airline does this in a number of ways which include remaining clearly committed to service. This commitment is reflected in the airline’s core values and mission statement which demand that quality service to customers is fundamental to the airline. Every year since it began, Singapore Airlines has remained profitable and has won numerous awards for offering top flight quality and service. That is why the airline has remained a world-class customer service provider. The customers expect that the cabin crew will be polite and hospitable. They also expect that all flight operations will be aimed at ensuring their overall safety and wellbeing during the flights. Singapore Airlines ensures that it meets these expectations of the customers by providing continuous training to its crew so that they can be able to deal with the ever increasing expectations of the customers. In order to be able to meet these expectations, the company trains its employees using four training centres within the company, namely, flight operations, cabin, commercial and development management and crew. Other measures that the airline takes in order to ensure that it meets the expectations of its customers include career development programmes offered to the airline staff, internal communications within the organization, consistent external communications with the public, connection with the customers, benchmarking to ensure competitiveness, improvement and growth, investment and innovation, rewards and recognition of excellent staff performance, professionalism and pride in the airlines culture. All these go a long way in influencing and determining the choice made by the customers.
This article is rated 4/5 because it is directly related to Singapore Airlines, the company under review. The article brings to our attention the strategies that Singapore Airlines is using to ensure that it continues to thrive in the industry. This article has a few weaknesses in the sense that it only focuses on the advantages of the measures being undertaken by Singapore airlines and does not give the disadvantages of these measures. The article does not dwell so much on the factors that influence the choices made by customers.
Gooner, R. A., Morgan, N. A. & Perreault, W. D. (2011). Is Retail Category Management Worth the Effort? Journal of Marketing, 75(5), p. 8-104. Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Journals/Journal%20of%20Marketing/TOCs/SUM_2011.5/retail_category_management.as px
Packaging is another important promotional tool that can be used to influence that choice made by the customers. At Singapore Airlines for example, there are a lot of packaged products such as food and water. In any firm that packages goods for its customers, category management has always been a major issue. These products have to e of high quality that reflects the image of the company. This is the surest way that the customers will be satisfied with the products of the company. For firms that deal with a wide variety of products, managing them can be very difficult. They sometimes lack the capabilities and resources to effectively manage the quality of all their brands. Having realized the importance of category management, most leading firms today are embracing it and ensuring that their individual products are of high quality. Singapore Airlines is among these firms. The company invests heavily in packaging because it realizes that this influences the choice made by the customers.
This article is rated 3/5 because it is fairly relevant to the issue under discussion. The article is very recent and addresses the issue of category management, which is pertinent to many firms that produce packaged goods for their clients. The disadvantage of this article is that it only focuses on packaged products and tends to neglect other services. This article does not tell us how to ensure that products can be packaged in a quality manner.
Ajith, K. (2008). Singapore Airlines: Oil Shock Amid Slowdown. Singapore: UOB Kay Hian Research Pte Ltd.
Bharadwaj, S. G., Tuli, K. R. & Bonfrer, A. (2011). The Impact of Brand Quality on Shareholder Wealth. Journal of Marketing, 75 (5). Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Jo urnals/Journal%20of%20Marketing/TOCs/SUM_2011.5/impact_brand_quality.aspx
Bruggen, E. C., Foubert, B. & Gremler, D. D. (2011). Extreme Makeover: Short-term and Long- term Effects of a Remolded Servicescape. Journal of Marketing, 75 (5). Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Jo urnals/Journal%20of%20Marketing/TOCs/SUM_2011.5/extreme_makeover_servicescap e.aspx
Gooner, R. A., Morgan, N. A. & Perreault, W. D. (2011). Is Retail Category Management Worth the Effort? Journal of Marketing, 75 (5). Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Jo urnals/Journal%20of%20Marketing/TOCs/SUM_2011.5/retail_category_management.as px
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Miller, F. P., Vandome, A. F. & McBrewster, J. (2010). Singapore Airlines. New Jersey: Alphascript Publishing.
Mögele, B. & Tropp, J. (2010). The Emergence of CSR as an Advertising Topic: A Longitudinal Study of German CSR Advertisements. Journal of Marketing Communications, 16 (3), 163-181.
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Wang, Q. & Xie, J. (2011). Will Consumers Be Willing to Pay More When Your Competitors Adopt Your Technology? The Impacts of the Supporting-Firm Base in Markets with Network Effects. Journal of Marketing, 75 (5). Retrieved from http://www.marketingpower.com/AboutAMA/Pages/AMA%20Publications/AMA%20Jo urnals/Journal%20of%20Marketing/TOCs/SUM_2011.5/will_consumers_willing_pay.as px
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