Classic Airlines and Marketing PaperEssay Preview: Classic Airlines and Marketing PaperReport this essayClassic Airlines and Marketing PaperRunning head: CLASSIC AIRLINES AND MARKETING PAPER Classic Airlines trade Plan MKT 571/Marketing Classic Airlines is up against not just one take exception but several challenges they need to deal with. Unfortunately trigger off has decreased as a result of uncertainty with regards to fast-flying; this has forced the stock damages to be reduce decreasing the price of a sh be of Classic Airlines stock by 10% over the previous year. The negative messages being conveyed by ring Street and the media is bringing employee morale down to an all date low. Consumer confidence in the airline has resulted in a 19% decrease in Classic flight reward members which in turn has decreased flights by loyal members by 21%. The rising cost of fuel and labor as a result of economic times is preventing Classic from competing to regain its woolly-headed customers. In an attempt to balance out their financial loses and curve down on any further financial crunches, the bill of directors is mandating a 15% cost reduction but expects the merchandising strategies to be beefed up to bring in more advantageous return on investments of the frequent flyer program. This plan is being put into action to prevent bankruptcies of the airlines.
Classic Airlines needs a begin with their business mission then move on to a strategic plan. The strategic plan bequeath layout, ground on analysis, what areas of the airline market has the most promising opportunities. The neighboring step is a tactical marketing plan that will help to point out promotions that could be featured and work they could offer to bring lost customers back as rise up as to draw new customers in. Classic is in a position where they cant decrease the price of flights because their flights are set within the standard pricing of the airline industry. moreover this is an area that is in need of revamping, that is the customer service area. thither are many complaints about the treatment of Classics customers.