Sample Term Paper
Considering the services offered by Silverjet, the concentrated strategy of flying only business class and the focus on an improved customer experience, Silverjet has chosen to cater to only a specific, high end market segment of the aviation industry (Harrison 2008).
Filling seats does not seem to be a priority, as a higher ticket price contributes a greater amount to the revenue leading to breakeven being at only 65% load factor (Anderson 2007). Silverjet chose to cater to the high income bracket, which mostly involves an older age group. Also important are business travelers, who travel frequently and tend to be brand loyal. As shown by its focus on the most lucrative route, the vital role of business travelers is appreciated due to Silverjet’s concerted focus. Basic demographics aside, Silverjet focused on customers willing to pay extra for better service, that is they value exclusivity, the ability for late check in, and prefer flying in comfort. These customers can spend extra on purchasing a business class ticket, as this is the only option to experience the benefits of a premium flying experience. The $2200 price tag for a round ticket fromNew YorktoLondonis on the lower end of the price scale when compared to competitor’s prices. Therefore Silverjet was catering to customers seeking value and services but willing to pay extra for what they want.
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