International Marketing Plan on Singapore Airlines

Table of Contents

Introduction1

Brand Review1

External International Environment Analysis2

Political Factors2

Economic Factors:2

Technological Factors:3

Social Factors:4

Legal Factors5

Marketing Strategy5

Market Development6

Target Segment.6

Value Proposition7

International Marketing Mix7

Product7

Price8

Placement8

Promotion9

Conclusion10

References12

International Marketing Plan on Singapore Airlines

Introduction

For the purpose of this essay, my chosen company is Singapore Airlines. I will be discussing the issues concerning Singapore Airlines for their entry into a new foreign market. A thorough marketing plan would have to be constructed in order to give the company a clear direction in achieving its goal of a successful entry into a foreign market. There are a lot of things at stake when we talk about entry into a foreign market. Therefore, I will be conducting an External Environment assessment. Significance of potential marketing issues is given sufficient importance. Lastly I will propose an appropriate marketing and branding strategy.

Brand Review

Singapore Airlines is one of the most renowned aircraft carriers of the world. It boasts of a young fleet of aircrafts in its operations. A vital element in the resounding success of Singapore Airlines is its ability to lead from the front. When it started operations it was the first one leading the market share. It had a monopoly in the market in the first few years because of its innovative processes and customer focused approach. Whether it is the introduction of satellite based in-flight telephones or the introduction of headsets, Singapore Airlines is always up to the mark in technology. Its R& D Department has performed outstandingly according to the customer needs. Singapore Airlines is facing some serious competition from Emirates Airlines, Qatar Airways and other Middle Eastern airlines (Singapore Airlines, 2012). It needs to come up with a comprehensive course of action to tackle the threat of its competitors. If we take a look in the recent past, Singapore Airlines customers have had a substandard service experience. Singapore Airlines needs to win the trust of its loyal customers at the earliest.

External International Environment Analysis

For a successful entry in an overseas market, we ought to look at the factors affecting the external environment:

Political Factors

In catering to an overseas market, we have got to look at the government policies, trade agreements, tax rules, political stability of the respective market. It would be an unreasonable risk to enter into a market with high political instability. Careful analysis of the above mentioned things would help us achieve the desired results. Political Instability would be a substantial threat because it would hamper a brand's continued presence in the new overseas market.

Economic Factors

The state of the economy plays a substantial role for a new entrant in a new market. In times of recession or a financial crunch, it is very difficult to survive as a company. Similarly, if, the rate of inflation is very high, the organization would be losing customers at a rapid pace. It is very essential to do a thorough survey of the economic situation existing at the current time. It might be possible that the economy is progressing rapidly, but at the time of our entering ...