Qatar Airways is a flag carrier owned by state of Qatar. It is headquartered in in Doha. The airline is operating the hub-and-spoke network. It is linked with more than 150 destinations across the Asia, Europe, Africa, Oceania, and Americas. Its base is at Hamad International Airport and use fleet of over 200 aircrafts. The company is employing more than 43,000 employees. It is also the member of the Oneworld alliance from 2013. (Qatar Airways, 2020).
The companies strive hard towards achieving goals, and their main goal is growth or expansion. The Ansoff matrix deals with determining different growth opportunities for the companies. The matrix suggests the growth mix of products and market. This helps in setting the growth direction for the companies. Here is the detailed Ansoff matrix analysis of Qatar Airways.
Market Penetration
Ansoff matrix suggests market penetration as the growing strategy. This deals with existing products or services of the company in the existing market where it is already selling. The companies have to increase their sales in the market by increasing customer base. This will help in increasing the market share. It can be achieved by different ways. Price cutting can attract more customers. Marketing and promotional techniques help the companies more in increasing sales. Qatar airways is one of a leading airline among Gulf States. The company has successfully built the booming market across Qatar markets and Dubai and consider as ever-busy routes in Dubai. The company is currently targeting the customers who prefers Emirates for the luxurious travelling experience but find it expensive. So, it provides the good and high-quality experience in affordable prices. It has marketed its airline aggressively to increase the customer base (UK essays, 2018).
Product Development
Product development is another growth strategy. Ansoff matrix suggests that the combination of new product for the existing market may help in increasing the growth rate of the company. This means the companies can introduce different version of existing product. They can modify the existing product or services to increase the sales and market share. Qatar Airways is one of the best service providers in airline industry. The company has developed new services for the existing market. It modifies its travelling experience and offers luxurious service in low prices than Emirates. It offers different discounts with and packages for the customers. The company is trying hard to build itself the prominent position in USA and European countries as it did in Middle East. The company is working hard on improving its services day by day for such destinations. The company is also doing aggressive marketing in those regions (Rafi, 2020).
Market Development
Market development is the strategy promoting growth by targeting new markets for the existing products. There are different ways to achieve this target. The companies have to attract new geographical locations to expand. The products or services should be offer along with aggressive marketing to attract more customers. The distribution channels and networks have to be established for increasing market share in different areas. The pricing policies should be re-examined for developing new customer base in different market. Qatar Airways has expanded itself geographically in the European and American markets. The company is offering competitive prices to attract new customer in the developed countries. Moreover, Qatar Airways is improving its services for developed countries’ customers. The new promotional techniques will help the company in growing there (Pecha, 2014).
Diversification
Diversification strategy deals with new product or service being introduced by the company for the new market where it did not serve before. The companies can diversify in the same industry with different product or can enter in completely different industry. Qatar airways is one of a big name in airline industry. The company can diversify itself in the hoteling industry, like providing the services of booking hotels and cabs to the passenger who are travelling. It will help the customers to book its places right on time while booking tickets. This will help the company to grow the customer and market base and also its service portfolio.
References
Pecha, V. 2014. Qatar Airways. [Online], Available at: https://www.academia.edu/7899658/Qatar_Airways, [Accessed on: 22nd January, 2020].
Qatar Airways, 2020. About us. [Online], Available at: http://www.qatarairways.com/, [Accessed on: 22nd January, 2020].
Rafi, 2020. Ansoff matrix to identify the strategic direction. [Online], Available at: https://www.coursehero.com/file/p5m9anul/Ansoff-matrix-to-identify-the-strategic-direction-pursued-by-company-The-Ansoff/, [Accessed on: 22nd January, 2020].
UK Essays. 2018. Qatar Airways Marketing Strategy. [Online]. Available at: https://www.ukessays.com/essays/tourism/welcome-on-board-to-qatar-airways-tourism-essay.php?vref=1, [Accessed on: 22nd January, 2020].