Turkish Airlines Current 4Ps Marketing Policies Essay

Turkish Airlines Current 4Ps Marketing Policies - Essay ExampleAs of today, more or less 51% of its shares are owned by the public, whereas, the remaining are retained by the government. Over the years the company has flourished to the extent that, in 2008 it was named as angiotensin converting enzyme of the fastest growing europiuman carriers in terms of traffic and seating capacity (Turkish Airlines, 1996-2012). At a time when the global recession ca utilize other European airlines to cut down their operations, Turkish Airlines managed to demonstrate steady growth in terms of its passenger traffic and seating capacity. The company has over 127 carriers in its excrete and flies to over 145 international and 41 local destinations (Turkish Airlines, 1996-2012). Istanbul is primarily considered to be its gateway to various Middle East destinations. The companys general telephone line strategy revolves around expansion and development of its operations. As part of recognition for its strategic efforts, it has been labeled as a four-star airline (Skytrax, 1999-2011). The company, therefore, is now eyeing the five-star discussion section and is enhancing the quality and work of its carriers in order to enhance guest experience. An essential part of its boilersuit strategy, therefore, is inevitably the marketing strategy. Holistically, the company is aiming at creating greater leaf blade awareness amongst its target market and to position itself differently from competitors in terms of reliability, safety and quality. The company is targeting the attainment of crucial values such as customer safety and quality service as well as providing value for money. Therefore, the focus of this airline is to provide low cost fares with unmatched quality of customer experience. The 4Ps for the company involve the Product (airline service), Price (fares), Promotion and Place (destinations in this case). As far as the product is concerned, the company has targeted its a irline service to a wide range of segments. The companys primary target market is the leisure customers who make up a vast chunk of its overall passengers. The secondary market is the corporate segment, comprising of business executives and corporate individuals. Such customers require corporate discounts (that are perhaps endowed to them by their organizations) since they travel is high volumes. Turkish Airlines has kept this trend in mind and has offered quantity discounts in markets where a large number of multinationals are located. There are several MNCs in Europe such as Shell, Delloit, Deutsche Bank etc that have high volume of business travelers. The company derives a major chunk of its revenues from the leisure segment, as opposed to the business segment. According to a research, 54% of the companys market share is derived by leisure segment, whereas, 32% is derived from corporate segment. A common terminology used in aviation is that of the shoot down factor which is desc ribed as the relation between the aircrafts lift capability to its weight. Turkish Airlines load factor has declined over the years, from a rate of 71.5% to 71% (Centre for Aviation, 2010). The company is now taking steps to ensure that its load factor increases, especially during the peak summertime period. An efficient load factor of approximately 77% is ideally looked upon as a healthy sign since it shows that the weight is being efficiently utilized finished passenger traffic. A crucial aspect of Turkish Airlines marketing policies has been a focus on Turkish tourism, of which Istanbul is a highly