It follows vital certain strategies, which include safety first, high aircraft utilisation, streaming operations, lean distribution system and point-to-point network to amplify the working of its low-cost model (Zhang et al., 2017). Porter five forces analysis of Airasia will help in understanding and providing solution to nature & level of competition, and 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. 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. Physical evidence encompasses the ways in which the company can maintain their position in the industry. Do check. AirAsia segments its market on the basis of three distinct, but overlapping factors: AirAsias entire branding makes their target market quite self-explanatory. The other supplier such as fuel supplier, merchandise supplier, or food supplier may be depend on market condition. The Air Asia X mainly focuses on the long-haul routes (Yarimoglu, 2014). The acronym refers to political, economic, social and technological factors. The profits of the organisation have been observed to be remarkable which introduce an opportunity to new competitors causing a severe threat to AirAsia for sustainable profits. The bargaining power of buyers is strong because most of the customers for Airlines Company are individual travellers instead of travel in group. The threats in the SWOT Analysis of Air Asia are as mentioned: 1. Hi, I am an MBA and the CEO of Marketing91. Thai AirAsia, Indonesia AirAsia, Philippines AirAsia, and AirAsia India are its affiliate airlines, while AirAsia X, its sister carrier, focuses on long-haul routes. Tiger Airways. Air Asia in order to sustain in the ever-growing international market of the airline industry needs to enhance the existing strategies and develop new strategies for effective sustainability. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. The Threat of Substitution The international airline market has sufficient low-priced airline options available for passengers to travel. Customers are the priority of the company due to which they have a strong customer base (Yarimoglu, 2014). This involves a detailed analysis of their actions and how these would affect the future strategies of AirAsia Flying Low Cost with High Hopes. See insights on AirAsia including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. 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. Similar service provided among every airline company so the competitive may be fierce. Another reason for the threat of new entrants being low is government laws and regulations which pose restrictions on applying for permissions and license for operating an airline company. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Required fields are marked *. 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. With the increasing number of services by different competitors, AirAsia has also expanded its facilities including the tour packages and hotel booking services that help the company to sustain in the market. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Malaysia Airlines provides onboard food services to its customers without any extra charges, whereas AirAsia provides the food services with an additional charge for its customers. 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. Step 3- Assess the Porter Five Forces in relation to the industry and assess which forces are strong and which forces are weak. Fixed Cost is high. Find useful insights on AirAsias company details, tech stack, news alerts, competitors and more. Air Asia is smartly using its social media in building a direct relationship with its customers. These are people ranging from those who could not afford to fly previously, to corporate business employees whose employers are looking to fly them while cutting costs. In addition to this, the IT management of AirAsia adopts precise and effective approaches to ensuring the convenience of its customers (AIRASIA.COM, 2017). AirAsia has 5 employees at their 1 location and RM1.84 b in annual revenue in FY 2021. They have been a major player in the low-fare airline industry and have connected over 88 countries together. AirAsia can be accounted to lack financial assistance from organisations or sponsors which consequently minimise the investment opportunities for the organisation (Abdullah, 2010). In the increasing demand of the airline services, there is a tough competition in the airline industry because of the varied numbers of the competitors that are providing the airline services. The competitions advantage is the centre of a companys performance to face a direct competition. After an in-depth study of the swot analysis of AirAsia, weve concluded that AirAsia is indeed the worlds leading low-cost airline. In the context of this fact, the loyalty of the customers of Air Asia has been decreased because of the increasing competitors of Air Asia in the airlines, such as Jet Star and Tiger Airways. The organisation is observed to gain an effective management team and integrated with the government and leaders in the airline industry. Competition: The company faces a lot of competition from brands such as Air India, Singapore Airlines, Virgin Airlines etc. Although the two major suppliers of aeroplane structures are Airbus and Boeing, the suppliers of other facilities required in an aeroplane, for hospitality services including food and merchandise, are available in adequate amount in the market. It mainly constitutes of two major subsidiary airlines that includes MASwings and Firefly. As compared to industry leaders, they dont operate on as many routes, Merging with other low-cost airline companies, They can introduce more flights for popular and busy destinations, The increasing traffic from India as Indians prefer budget airlines. Low switching costs. This may makes the industry very competitive. Airasia may be small portion of customer whom orders 200 aircraft from the total 9,113 aircraft order from other customer of Airbus. The content on MBA Skool has been created for educational & academic purpose only. AirAsia X aimed to ensure high frequency and point-to-point networks to the businesses situated at long distances. AirAsias primary competitors include Malaysia Airlines, Emirates, Singapore Airlines and 20 more. Their 5 main operational hubs are Singapore, Indonesia, Japan, Malaysia, and Thailand. This company also operates through affiliated airlines, such as Thai Air Asia, Indonesia Air Asia, Philippines Air Asia. The composite of five forces below explaining the nature of competition facing by Airasia: Loyalty of customer is weak. Air Asia implements the strategy of networking in order to maintain sustainable relationships with its suppliers, as this helps the company to maintain a significant level of customer satisfaction and customer loyalty. Student Life Saviour 2022 - All rights reserved. It provides an understanding of the company's strengths, weaknesses, opportunities, and threats (SWOT) in relation to its competition. 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 participates in a lot of price-based promotions. Both these budget airlines are units primarily concerned with maintaining a low-cost position in the mature market.. History of Garuda Airlines. But in 1993, Air Asia was established to finally connect Asia like no other airline company. AirAsia was named as the best low-cost airline company in the world for 9 consecutive years at the Skytrax World Airline Awards. It has been reviewed & published by the MBA Skool Team. Air Asia PESTLE Analysis examines the various external factors like political, economic, social, technological (PEST) which impacts its business along with legal & environmental factors. The increasing cost, competitors, and limited international destinations are some of the main challenges. The opportunities for any brand can include areas of improvement to increase its business. 2.1.2 Pest Analysis PEST analysis is a useful tool for scanning the general environment. The company will increase the current IT facilities used in the aircrafts to enhance the facilities provided to the customers. In the AirAsia case study, we shall decode AirAsias marketing strategy, marketing mix, SWOT analysis, social media presence, and also analyze its competitors. Air Asia is a low-cost airline headquartered in Malaysia. DRB-HICOM, a government conglomerate laid the foundation of AirAsia in 1993 and it became operational on Nov 18, 1996. can be threats. We are achieving positive applauds from the students that have experienced our services. AirAsias mainproducts and servicesare KL Syariah Index of Bursa Malaysia, low price Santan meal, and duty-free merchandise, drinks, food, and other menus if you buy on board. Direct competitors market the same product to the same audience as you, while indirect competitors market the same product to a different audience. The company makes use of innovative solutions in order to provide low-cost aviation. 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. Orient Thai previously competed as a third LCC domestically but has essentially withdrawn from this market, initially shutting its LCC brand One-Two-Go in 2008. They may compete in term of their route offering that Airasia does not fly. Many airline companies have entered the airline industry and they have made the market very competitive. Today, well discuss the swot analysis of AirAsia. Study for free with our range of university lectures! We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. This comes with a lot of competition. 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 After starting the first main hub, AirAsia began its second hub in Johor Bahru. It would be a strong competitive edge to AirAsia after the pandemic ofcovid-19because the purchasing power of the people has dropped significantly. Discover AirAsia alternatives or similar companies to benchmark and competitors' market analysis. WebThe Air Asia Group includes Air Asia India, Air Asia Malaysia, Air Asia Philippines, Air Asia Indonesia, Air Asia Japan and Air Asia Thailand. Customers have access to market information. The following are strengths and weaknesses of AirAsia: 1. Fixed cost incurred by an airline company may include the finance cost, hire purchase and staff cost while this fixed cost may be reduce through increase in market share. The organisation can be witnessed to confront critical competition from the competitors who are facilitating similar costs and additional services and privileges which act as a drawback for the organisation (Man and Justine, 2005). This isbecauseof increased globalisation among industries and travelling, and the tourism industry has been severely affected by it. We're here to answer any questions you have about our services. Comment * document.getElementById("comment").setAttribute( "id", "a896926ff00456d33666396e451bba6e" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved. However, the company has employed more than20,000employees to manage its worldwide operations. Competitiveness Points of Air Asia. Below are the top 3 competitors of Air Asia: 1.Jetstar Airways 2.SilkAir 3.Tiger Airways. 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). AirAsia should expand into more countries, increase the market, and target new customers. The created segments consists of consumers who share similar interests, requirements and locations. It offered a new definition of affordable traveling with its Tagline Now Everyone Can Fly. Rise of Other LCCs in Market. 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 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). The increasing traffic from India and Indians prefer budget airlines as they are cost conscious 2. A recipient of numerous awards Air Asia has been consecutively designated as the leading low-cost carrier in the Asian region. Start-up Cost is high. Consistent complaints concerning services and facilities may result in a downfall for the organisational reputation and prioritisation. AirAsia Airline As the best low-cost passenger. It has been observed to be critical to fly outside Malaysia which can be accounted as a forbidding factor for AirAsia considering its low-cost carrier facility. The airline has four subsidiaries including Air Asia X, Indonesia Air Asia X, Indonesia Air Asia and Thai Air Asia. Very interesting and informative. In this section of the blog, we shall understand AirAsias marketing with the help of its STP (segmentation, targeting, and positioning) strategy. AirAsia X share began trading on Bursa Malaysia, formerly known as the Kuala Lumpur Stock Exchange, on 10-Jul-2013. AirAsia focuses on delivering accessible promotions, in which customers are aware of new product offers with minimal company intervention through simple tools such as emails. AirAsia X has amplified its profit-making routes to multiple countries such as Australia, France, Iran, South Korea and New Zealand. UNICEF collaborated with AirAsia to raise $ 128 million for the people who were affected by the earthquake in Haiti. WebAirasia are now facing competition with approximately 59 low fares airline such as JAL Express, Tiger Airways, Air Arabia, JetStar Airways, and etc. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. As reported in The Edge Markets in 2019, Khazanahs managing director Datuk Shahril Redza Ridzuan claimed that the airlines CASK was only 15 per cent to 20 per cent higher than AirAsia and was in fact lower than regional airlines such as Singapore Airlines, Thai Airways and Cathay Pacific. In contrast to this, Jet Star Airways has more types of planes that are provided to its customers that includes A320, Bombardier Q300, A321 and Boeing 787 Dream Liner; whereas AirAsia offers only two types of planes to its customers, which are A330 and A320. The goal of AirAsia is always looking to cut costs across the value chain from competitors to gain the greatest cost advantage. The Indian market is highly price-conscious. - Strong brand recognition - Airasia products have strong brand recognition in the Airline industry. Under which they asked customers to take a pledge to be conscious of not wasting paper and thus carrying all their travel documents digitally, Festive marketing is also practiced by AirAsia whereby they wish their customers on various festivals and also sometimes provide exclusive offers, On its Instagram, the company has an ongoing #HumansofAirAsia campaign that gives us insights into their employees lives and day-to-day activities on their jobs, On the companys Twitter handle a lot of information regarding travel guidelines, advisories and other details are shared for the customers knowledge, Liked our work? Interested in learning more? The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. The price offer by an airline company may not be fixed but it will depend on the time differences between the date of booking and flight. It is an international air travel carrier that started its flights in Malaysia and expanded its base globally. Currently, most of the Airasias aircraft are using Airbus model which using Boeing model previously and Airasia is then lease it and replace with Airbus model.If in case Airasia may wish to switch to Boeing again, the cost of training employee in operating the aircraft feature is high. Air Asia Competitors There are several brands in the market which are competing for the same set of customers. The company was established in 1993, and the official operation of the company was started on 18 November 1996. Looking for a flexible role? Learn how your comment data is processed. Some of the threats include: If you liked this article, we bet that you will love the Marketing91 Academy, which provides you free access to 10+ marketing courses and 100s of Case studies. In Kuala Lumpur. Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. 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. Kamarudin Meranun and Tony Fernandes bought the airline on Sep 08, 2001. Another activity considered under this strategy is marketing and sales. Pacific (Cebu Air Inc, 2012), AirAsia (AirAsia, 2011), and JetStar Airways (Jetstar Airways, 2012) all reporting increase in revenues and recording profits over the previous year. Aircraft supplier could be the one who gaining most bargaining power as there are only two in operation, Boeing or Airbus. High Switching Cost. Multiple ticket distribution networks exist, including internet booking, exclusive reservations, sales offices, and company-approved agents. The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. Furthermore, the company wants to serve the 3 billion people who are currently out of connectivity and cannot afford high fares. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. Lets understand AirAsias competitors better with analysis. The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. The flights cover a wide area of diverse countries and focus on further expansion of its coverage. AirAsia is a reputed and leading Asian based airline company, which is headquartered in Malaysia by a government-owned corporation named DRB-Hicom. Government regulations which target various aspects such as particular routes, landing permissions and share possession cause a drastic impact on the operations of the organisation. The company also engages in direct service development strategy by treating employees as an essential part of the organisation. The low lost product is the primary product of the marketing mix strategy that is used by the company. 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. AirAsia Berhad also facilitates in operating businesses, related financial services and airline operation services. 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. AirAsia X joins AirAsia Berhad and Thai AirAsia with stock listings. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Thailand s market currently has just two local LCCs, Thai AirAsia and Nok Air. Some more of these improvement areas can be found through its SWOT analysis. It constantly delivers on this promise of affordability, It is extremely difficult to keep costs as low as possible due to fluctuations in fuel prices and increases in service costs, AirAsia does not have its own MRO facility, Cut-throat competition in its sector. Quizzes test your expertise in business and Skill tests evaluate your management traits. 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. Strong Promoter 2. Its routes include both domestic and international flights. 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). Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the top 3 competitors of Air Asia: 1. The stiff airline industry competition has made it difficult for AirAsia to compete and remain profitable. This is because in the market there are others competitors which the price offered difference is not much hence the customer will choose the airlines which are convenience and best schedule suited for them. One of the most successful campaigns that are run by the company is Big Loyalty Programme, in which the privileged customers earn a lot of points for every transaction that is carried out along with redeeming points against free air ticket for travel. Today it is one of the most reputed Asia-based airline companies. Your topic helped a lot, Your email address will not be published. As there are approximately 59 low cost airline operating in the industry,it is always easily for the customer to look for alternative. Bargaining power of Buyers The buyer power for Air Asia is analysed to be high as with increasing options in the international market and decreasing prices of air tickets, people of every category of society can afford flying, and hence, the bargaining power of buyers is also high. AirAsia offers the cheapest flights to over 120 destinations across Asia and Australia (AirAsia, 2018). There are many services that are provided to the employees of the organisation, such as training and motivational lectures. 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