Activity 1 - Identify sources of market information
Briefly identify five sources of information that you may use to collect market information.
Identify what information can be collected from each of these sources.
1. Observation
- It is a market research method in which the researchers directly observing on how
consumers behave and interact in a market.
2. Documents and Records
- Documents and records are used to collect datas and informations, it can be stored
in paper or digitally. A document is a information you used for planning materials, it
is an editable file, while Records are the evidences of your past documents that are
finalized.
3. Literature Sources
- Literature sources refers to the collection of relevant written sources on a topic, i is
devided into three categories which are the primary, secondary and tertiary sources.
4. Survey
- A survey is a method of gathering information from a people with the entention of
generalizing the result to a large population. This is usually in the form of
questionnaire it's either written or in online.
5. Interviews
- It is a one-on-one conversation between interviewee and interviewer, this is
essentially a conversation where one participant asks question and the other provides
answers.
Activity 2 - Conduct market research
TRAVEL BUSINESS: A MARKET RESEARCH
FOR ETHER AIRLINE
PAMELA Y. ARQUERO
I. INTRODUCTION
The airline industry encompasses a wide range of businesses, called airlines, which offer air
transport services for paying customers or business partners. These air transport services are
provided for both human travellers and cargo, and are most commonly offered via jets,
although some airlines also use helicopters.
Airlines may offer scheduled and/or chartered services and the airline industry forms a key
part of the wider travel industry, providing customers with the ability to purchase seats on
flights and travel to different parts of the world. The airline industry offers a variety of career
paths, including pilots, flight attendants and ground crew.
II. MISION, VISION, OBJECTIVES
Mission
To provide warmth and safety travel experience to our customer and to serve the airline
industry.
Vission
To be a first choice and trustworthy air transportation company in the Philippines.
Objectives
To create and maintain the standard of air safety through the promotion of good
airmanship.
Provide great customer service.
To contribute to the development of air travel industry in the Philippines.
III. MARKET SITUATION
The Philippines has had one of the fastest growing economies in Asia over the past few years.
Demand for air travel has naturally increased, but domestic traffic has increased at a rate
slightly slower than GDP.
Slot restrictions at Manila make it difficult to keep up with rising demand: domestic traffic at
Manila increased by only 2% in 2017, whereas the total domestic market increased by 6%.
Two of the three main domestic competitors in the Philippines, AirAsia and Philippine
Airlines, have been focusing expansion at secondary airports such as Cebu and Clark. Market
leader Cebu Pacific has paused its domestic expansion in the past two years, resulting in
market share declines, but is re-accelerating growth in 2018 as it takes seven high density
A321s.
The Philippines has several tourist destinations which cater to various kinds of tourists and
has always been a preferred destination amongst international tourists, as English is widely
used as a language amongst Filipinos.
Historically, the Philippines tourism industry has got significant attention from the policy
makers due to the following reasons:
Tourism industry makes a significant contribution to Philippines’ GDP, approximately 7.1%
in 2013
Opportunity of employment is large in tourism industry
Taxes levied on tourism industry is a major source of revenue for the government.
Factors such as rising disposable income, improving standard of living, availability of
affordable travel options within the country, and the government’s effort to make tourism as
one of the key industries in Philippines, are leading the growth of tourism industry.
‘Philippines Tourism Industry Forecast to 2019’ report offers a comprehensive guide to the
size and structure of the market. This report allows you to identify the factors driving growth,
competitive landscape prevailing in the industry and also analyse potential business
opportunities. Essentially, this crisp report offers strategic analysis of key factors influencing
the market and forecasts till 2019 to illustrate how the market is expected to change.
IV. PRODUCT SITUATION
The Ether Airline sells airline ticket and perform a service for customers, transporting them
and their belongings from one point to another for an agreed price.
Leisure travelers are the largest channel of sales. It requires serious technological
infrastructure to operate in that sector. The leisure traveler segment is budget conscious, so
customers are primarily interested in optimal pricing, rather than additional services or higher
service class.
Business/corporate travelers are people, individuals or a group, that travel mainly for
business. The chief priority here is in optimal route choice and comfort, so high service class
is preferable. While business travelers occupy a much smaller part of flights, they typically
bring more total revenue compared to leisure travel, especially in traditional airlines that
aren’t practicing low-cost approaches.
V. COMPETITIVE SITUATION
While 2014 was not a particularly good year for the aviation industry in Southeast Asia, the
Philippines was an important exception to the wider trend. In a report released by CAPA, a
global aviation think-tank, which looked at 18 airlines, it was found that out of the six airlines
that were able to generate a profit in 2014, four of them were based in the Philippines:
Philippine Airlines (PAL), Cebu Pacific, Tigerair Philippines, and Philippines AirAsia.
Other airlines on CAPA’s list were not so lucky, seeing their profits decline or their operating
profits reduced due to challenging market conditions and overcapacity.
According to CAPA, “The Philippine market benefited from consolidation and capacity
reductions while overcapacity plagued all the other major markets in Southeast Asia.” Other
key reasons for the success of the Philippine airlines included:
Improved market conditions in the country
Aircraft delivery deferrals
Low fuel price
VI. REFERENCES
https://centreforaviation.com/analysis/reports/philippines-international-aviation-market-
booming-passenger-growth-410102
https://www.marketresearch.com/Dion-Global-Solutions-Limited-v3783/Philippines-
Tourism-Forecast-9010997/
https://www.altexsoft.com/blog/airline-marketing-advertising/
https://www.aseanbriefing.com/news/philippine-aviation-industry-sees-strong-growth/
Activity 3 - Identify and respond to industry trends
There are 5 trends oppurtunities that may arise my business, this trends are: Conference and
Seminars, Advertisments, Product Launches, Event Technology, and Newsletters and
Brochures.
Conference
A conference is a large formal meetings of a several people working in the same
company or industry. They come together to discuss new trends and oppurtunities pertaining
to the business, problem-solving, and consultation. Conference have a specific objectives so
it can last for several days. Although seminars are academic in nature, seminars can be also
classified into several categories such as educational seminars, business seminars, etc. A
business seminar can be ba place where new skills are taught to the business owners. A
seminar is generally recurring meetings that focus each time on specific subjects or training.
Seminars in business usually focused on personal development or business strategies. The
attendees are also expected to actively participate in these meetings. This events are
sponsored by businesses or corporations with the intention of circulating knowledge, new
techniques, or new practices to their employee. A seminar is usually held for groups of 10 to
50 individuals and takes place at a office conference room or hotel meeting space.
Conference and Seminars has many advantages. A great conference can attract people in your
industry from all over the country or even all around the globe. One of the largest benefits
companies can get from business conferences comes from the other people who attend, it
helps you to learn from expert speakers with their specific topics. Those new connections can
benefit your business in untold ways. You could find new customers, new vendors, potential
investors, and partners for new products to name. The speakers and seminars often focus on
new innovations, and others in your industry will also show off their latest advancements in
their exhibit booths. It can help you about the latest technology, it helps you see where your
industry is going as a whole. This should inform your business’ next steps.This new
knowledge can help you find new tools you can use or companies you can partner with for
future products. You can also keep an eye on your competitors to see the direction they’re
moving.
Advertisement
Advertisement is a paid public announcement to motivate and inform the users about
goods and services, people, and places through media such as billboards, direct mail,
newspapers, televisions, and in internet. Advertisements are a method of reaching the
audience. Companies use advertisements as part of a marketing program to increase sales of
their products and services. Advertising helps to raise the awareness of a product or service,
generating leads for a sales force or selling directly. Companies with retail outlets use
advertising to make consumers aware of product availability and increase sales through the
outlets. Companies use advertising to make customers aware of the features and benefits of
their products. The product details should be included in the advertisement to show customers
that the product of their choice is good quality, together with a telephone number or website
address where customers can order the product. It can have an impact on business, this effect
can improved trade or boosted brand recognition.
There's a lot of benefits that can be achieved through produced advertisements for
business advertising. It can increasing brand & products awareness, Standing out from the
competition, Attracting current & potential customers, Educating your business customers,
Increasing Sales Volume & ROI, Improving your brand positioning “image”, and Supporting
other business operations.
Product Launches refers to a business's planned and coordinated effort to produce a
new product to the market. A product launch purpose is to give costumers to have access to a
new product and give a chance to buy it. It can improve the growth of the company when the
product is successfully introduced to the market. Product launch can be 1an existing product
which is already in the market or it can be a completely new innovative product which the
company has made. Product launch involves various steps which involves understanding
customer needs, product design, testing of the product, marketing & advertising and ensuring
that the product reaches out to all its audience. By launching a new product, a company can
capture the attention of their existing customers and has a chance to attract new customers
that they previously did not have access to it. There are key elements that must be focused to
be successful in launching a product for a business to generate revenue and increase their
success.
The elements of a successful product launch include:
Evaluate opportunity within a market. There are several elements that a business should take
into consideration during the product development sage when determining market
opportunity.
Testing. To find out how the market will respond to a product or how successful the product
will be, testing is crucial.
Timing. It is important to launch a product within a time frame that offers the most
opportunity. The product should be launched when there is a demand for the features that it
offers within the marketplace.
Establish goals. The goals of a product launch also need to be established in order to ensure
that the purpose of the launch is understood.
Positioning. Proper positioning when launching a product will shape how customers evaluate
a product against the products that a competitor offers.
Newsletter and Brochures
Newsletters and brochures are practical forms of distributing information to a wide
population. They are useful to inform general public to spread awareness of a specific topic
or to bring attention to companies and introduce particular services. Brochures or pamphlets
are a practical way to inform readers about a service, advertise to the public about companies,
or to promote products. Newsletters contain many different fonts, pictures, and shapes to
attract the readers attention. . Newsletters are a creative way to communicate and advertise
new ideas. Newsletters are similar to newspapers but instead newspapers are sent out on a
daily basis while newsletters are often only sent out on a weekly basis.
A brochure, also known as a pamphlet, is an informational paper that is used for
advertising. A brochure is a single piece of paper that can be folded in many different ways,
with summary information regarding an organization, company, product, and services.
Brochures are designed to introduce your business, it is a great marketing tool to show and to
expand your company's visibility and to attract new customers.
A Newsletter is a printed report that is sent out to those with specific interest. It
contains analysis and news about information and activities within a certain business or
organization. A Newsletter should include a good title, eye catching pictures, with relevant
and interesting information. The purpose of newsletter is to keep customers or employees
informed of what is taking place in a community or company. They also help promote
organizations, products, services, and businesses. Newsletters are appealing and easy to read.
It helps build regular communication with customers and employees, while being a cost-
effective way to do so. News letters creates trust between your business and clients. With a
informative and entertaining quality of newsletter writting, the readers will see that you're
company is a knowledgeable and relevant, in this case you will earn the trust of customers.
A trade magazine, also called a trade journal is a magazine or newspaper whose
target audience is people who work in a particular trade or industry. The collective term for
this area of publishing is the trade press. Trade publications keep industry members abreast of
new developments.
By reading magazines pertaining to your business, you are provided with the most current
information surrounding events and opportunities that relate to your business as well.
Target Audiences. The ability of magazines such as Men’s Health, Fast Company, and Sassy
to reach specialized audiences has become a primary advantage of magazines. For example,
a set of magazines published by the Hearst Corporation is called the Seven Sisters and is
clearly targeted to contemporary American women. These seven include Better Homes and
Gardens, Ladies’ Home Journal, Family Circle, Redbook, Women’s Day, McCalls, and Good
Housekeeping.
Audience receptivity. Magazines have a high level of audience receptivity. The
editorial environment of a magazine lends authority and credibility to the advertising. Many
magazines claim that advertising in their publication gives a product prestige. Clearly an ad
in Fortune would impress business audiences, just as an ad in Spin would impress teenagers.
Long life span. Magazines have the longest life span of all the media. Some magazines, such
as National Geographic and Consumer Reports are used as ongoing references and might
never be discarded. Other publications, such as TV Guide, are used frequently during a given
period of time. In addition, magazines have very high reach potential because of a large pass-
along, or secondary, audience of family, friends, customers, and colleagues.
