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Sunday, February 24, 2019

Princely Jets (Pvt.) Ltd. the Air Ambulance Written Analysis of a Case

imposing Jets (Pvt. ) Ltd. The commit Ambulance Written Analysis of a Case Mariam Soomro, Sharmain Malik, Syed Zainul Islam & Farooq Tirmizi creative activity This stag-up pass on be referring to the eluding study rich Jets (Pvt. ) Ltd. The advertize Ambulance. It ordain discuss at length the issues brought out in the case which concern the new commit Ambulance service that Akbar company of Companies is planning to launch. This paper asserts that Akbar collection should go ahead with the launch of the new service at the proposed price US$ 750 periodic membership and an hourly rate of manipulation of US$2500.The paper will attempt to justify the pricing schema and discuss the mix of promotion tools that they should make use of. Overview The Akbar Group has a diverse group of companies with their operations existence divided into 2 major(ip) categories the aviation division and the commercial division. They started operations in Pakistan in 2005 with Princely Jets ( Pvt. ) Limited with their first private charter spirt go. They offered private rave service on an adhoc as wellhead as on a scheduled flight basis with an objective of making the private jet charter experience simple, comfortable, enjoyable and unique.They launched in Karachi and later on spread out their operate to capital of Pakistan in 2006. By 2008 they had a fleet of 6 dispersecrafts. They had an average growth rate of 15% and a return on investment of 3%. Their aviation division in like manner included macrocosm the General Sales Agents for twelve international s depot offlines they were representatives of Amadeus and they offered travel agency serve under the name Princely Travels and Citilink. Their commercial division included ally businesses such as the distribution of Nike and United Parcel Services (UPS). They also had exclusive distribution of travel insurance for the Ameri sens Insurance Group.Akbar Group also introduced many global businesses in Pakistan such as McDonalds, The Princeton look back and LMVH Watches and Jewelry. Market Situation and Competitive Scenario Pakistan suffers from a host of problems such as political and social unrest. The rate of political protests, traffic accidents, criminal assaults and terrorist attacks has increase significantly. at that place is a constant command for transportation of victims for hint necessarily. There realise been many instances where the persevering never makes it to the medical facility in time because of traffic jams.There ar a sufficient numerate of medical rescue teams that reserve ambulance services such as Askari Aviation, Edhi seat and Chhipa Ambulances, but n superstar that provided specialized air ambulance services. The Akbar Group identified this perturbation in the market and decided to offer an Air Ambulance service to institute to this unmet need. It was easy for them to cater to this need as it would be a earthy extension of their aviation services th at they provided through Princely Jets. They had an existing clientele from their Princely Jet services who they could nates for the same specialized air ambulance services.Segmentation and Target Market The Akbar Group chose to segment the market utilise twain techniques Psychographic and Demographic. Psychographic They cherished to target affluent guests who would be unbidden to provide insurance for this evaluate added medical facility not only for their in the flesh(predicate) use but also for the use of company employees. Demographic The target market identified for the air ambulance service included corporate entities such as multinational and large national companies, banks, embassies, governmental agencies and some risque net worth individuals.Marketing Mix Product/ Service The Akbar Group proposed the following with their Air Ambulance Services * Transportation of physicians and specializers to remote areas * Inter-hospital transfer of patients requiring speci alists give-and-take and immediate attention * Quick transportation of stemma and human vital organs * Medical and other assistance to companies and organizations in remote areas of the country. They wished to start off their operations with a pilot stand out in Karachi and later on proceed to other parts of the country.In the Karachi region they planned to provide their services within a rundle of 125 nautical miles (225 land miles). The justification behind this radius was that they wanted to transport the patient to the nearest medical facility within a maximum of 90 minutes. They planned to offer air ambulance services with two fully equipment helicopters with multiple seating and at least two patient beds. They would have on board a fully trained paramedic team including a doctor, state-of-the-art medical equipment, life saving and emergency medicines, oxygen and blood transfusion capabilities.The air ambulance aimed to offer a glitter transition of the patient from the he licopter to the emergency room. Financially Viability As seen from the expect gross supra, after the first year this project will stick a profit stream which will make this a executable project. The Air Ambulance project is suitable for a country like Pakistan where wholeness sees in supply up 9A and Exhibit 9B that there is a high destiny for such services. To support this one should also look at Exhibit 12 to see the number of people that are in need of such services and have no other alternative. PricingThe two pronged system that is being offered by Mr. Ghouse is feasible since targeted market segment pays little importance to prices. They consider the value of the services. Therefore, as they are uncoerced to pay these prices for business purposes then they will be more than willing to pay for medical services. The prices suggested will be divided into 3 categories for iii disaccordent customer divisions as the following Corporate customer- These are the companies me ntioned in Exhibit 3. They will be offered a yearly package that will contain 37 hours that they can use at any hour.It can be apply by any member of the corporation with the approving of HR. * Private Customer- These will be those individuals who are operating private companies that have steady cash flow. They will be familiar with Princely Jets (PVT) LTD. services hence it will be relatively easy to convince them to utilize The Air Ambulance services for themselves. * Hospitals- A yearly contract will be signed with hospitals as mentioned in Exhibit 11B this will provide an supernumerary service which can be provided by leading medical institutions, which will have customers who are willing to avail on a one off basis.The cost that is charged by the hospital will be left to its discretion. Pricing Method The pricing strategy will differ from segment to segment. The private customer will be charged a slightly higher price as he will be less in all likelihood to require services on a uniform basis. Whereas corporate customers and hospitals will be charged a slightly disappoint price since they will be purchasing bulk services and are more likely to want greater flight hours. Therefore, higher r even outue can be generated from these institutes through variable costs.The above methodology is scarce a proposal. However, this project is definitely viable. If we consider the pricing that Princely Jets is exploring the following comes to mind Premium Pricing Princely Jets is going to be fulfilling the needs of a niche market. As stated earlier, pricing is not an influencing chemical element in the decision to purchase. For these high profile consumers, the ambience, the service environment and the gauge will be perceived as of worth. It is about how vital the customer is made to feel during the entire journey.It is the flexibility offered, the uniqueness in treatment and of course, the fact that each flight is personalized for the client. They will be will ing to pay for a superior air solution over others which are designed to give greater benefits. It is these intangibles that justify the bountifulness pricing strategy. as well as it is the pioneer in its category, it can enjoy the benefit of being a price setter in the industry. Specialized Service Air ambulance services have high operational costs. The specialized nature of these air rescue services limits the ability to compete on the basis of cost.Therefore, merchandise is directed towards high net individuals, corporations and governmental agencies that prefer other factors. Customized Air Solution Princely Jets is going to fabricate each flight with agreement to the needs of the client. From the point of destination to the point of food being catered every(prenominal) small aspect will be planned in place to serve the punter in question. Heritage Akbar Group of Companies is bringing this premium service in and has over 100 years of experience in the aviation industry.Thi s facet can be utilized to position Princely Jets air ambulance services in the consumers mind and be used to build brand equity. Placement Princely Jets launched from Karachi in 2005 and had expanded to Islamabad by 2006. It designed a 4000 square yard hangar with a high tech maintenance workshop for supportive services. Also to add benefits and value to their service, Princely Jets had its own airport lounge in Karachi. It was utilize to Princely Jets customers. Promotion Viral Marketing This strategy played well for the luxurious travel Princely Jets offered.It appeared to be promising for air ambulance services as well. Within the narrowed boundaries of this niche market, if the trend of air ambulance services spreads like wildfire, targeted customers will be drawn into its usage. enounce of mouth Word of mouth communication remains to be the most effective and frequent market tool. As it is recommended from person to person, a level of trust is involved. That by itself will build to service credibility and reliance. Relationship marketing given the infrequent nature of this service, Princely Jets will have to be unconquerable in building and sustain its clientele.It should focus on the longevity of end user relationships and continue to remain in touch with them. They will likely own personal, intricate consumer information such as birthdays, anniversaries etc and can coiffure diminutive gestures such as sending a birthday brain across to remind the consumer that Princely Jets remembers them and is thinking of them. That will add to value in terms of positioning in the customers mind. rank Marketing This may prove to be a successful strategy for the air ambulance sector. Sending brochures, flyers, personalized posters to the consumers would build a personal connection.An even better alternative is to send customized letters to them on a monthly or biweekly basis to build brand recall and to make Princely Jets the preferred carrier. Another way to differentiate itself is to offer to show the helicopter to exclusive clientele. These strategies are recommended to Mr. Ghouse as they will prove to be the most effectual and valuable. However, an aggressive online marketing campaign to compliment the above tactics will be better. Mr. Ghouse should draw up an integrated marketing communication plan that has the consistent message of safety, security and comfort and is conveyed accurately.

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