Ryanair Case Study Example
Ryanair Business Overview
Headquartered in Swords, Dublin Ryanair is an Irish ultra-low-cost airline that was founded in 1984. Since its establishment in 1984, Ryanair emerged from being Waterford to Gatwick, into Europe’s largest carrier.
It forms the largest segment of the Ryanair family of airlines. It is a subsidiary of Buzz, Ryanair UK, and Malta Air. The group gained publicity in 1997. It used most of the revenue to expand the airline to pan-European fliers.
Revenue generated increased from 231 million Euros to 1,843 million Euros in 2003. It increased to 3,013 million Euros in 2010. Net profit of the company increased from 48 million to 339 million Euros at the same time.
It operates over 400 Boeing 737- 800, and 737-700 used as charter aircraft. It serves as a backup and for pilot operation. Ryanair’s network serves about 40 countries in Europe, North Africa, and the Middle East.
Fast Facts of Ryanair airlines
- Air flights take off from 180 international airports from more than 29 countries in North America and Europe.
- It follows about 1611 flight routes all over Europe North America and Eastern Europe.
- in 2014 Ryanair had about 91 million peoples booking flight services
- 50% of the employees work on a contractual basis, which implies that they get hired seasonally.
- It enjoys benefits due to low fuel expenses, Low flight training cost, and operational expenses
- It aspires to be the most profitable or low-cost European airline. It is attainable as Ryanair is one of the biggest players.
- To deliver the best customer service in the peer group. It is a measurable objective that can be accomplished through market surveys.
- In 2014, it launched an “Always Getting Better” strategy. It aims to fix the things that customers don’t like.
Competitive strategy of Ryanair
Competitive strategy can be released through the three strategies. They are as follows:
- Cost Leadership
Cost leadership strategy can be used when a company has a costing advantage above its competitors. Differentiation helps a business to identify the products that are unique in comparison to its competitors. Focusing helps businesses to concentrate on one segment of a market rather than the complete market.
Cost leadership is the most appropriate strategy for companies like Ryanair. It is because they are the cheapest airline based in the UK. This strategy can help it to access the market of countries like Bangladesh.
Ryanair’s Competitive Analysis
Ryanair marketing team has succeeded in establishing the most low-cost European airlines. It followed various strategies to emerge as the most economical European airline which gave it a competitive advantage in the market.
Analyzing competitive advantage of Ryanair Airlines
Competitive advantage is the assembly of resource competencies, skills strategies that sets a business apart from its contemporaries. easy to analyze the competitive advantage of Ryanair Airlines with the two models. They are as follows:
- Porter’s generic strategy
- Bowman’s strategy clock
Porter’s generic strategies
Ryanair follows a Competitive advantage strategy that enables it to provide low-cost airline services. It allows Ryanair to carry more than 40 Million passengers in European countries. YouTube is a short-haul and point-to-point Flight route, the strategy followed by the largest European Airlines can be also viewed as concentrated on lowering operational expenses,
Bowman’s strategy clock
The strategic advantage of Ryanair can be further classified into two namely Low price added value systems and Hybrid. s strategy clock analysis competitive position of a business Comparison to the service offered by its competitors. Bowman Competitive advantage with a cost advantage or product differentiation strategy.
Ryanair’s business strategy can be considered hybrid as it claims to offer premium services at the lowest possible price. Considering the fact, Ryanair manages to keep the low pricing strategy for the long run that keeps it on the left side of the strategy clock.
Ryanair Marketing Mix
The Ryanair marketing strategy 2021 shows its 4P’s of marketing includes:
In the case of international airlines like Ryanair, flight booking is the main product. Ryanair does not need to enhance their product line, rather they can gain market share with their existing services. As Bangladesh has 15 airports, it is better to start with domestic airlines. Bangladesh has some popular destinations like Cox’s Bazaar, Chittagong, and Sylhet. Thus, Ryanair can operate in Bangladesh domestically and globally.
There is no doubt that Ryanair is one of the most progressive low-cost airlines, following a defined pricing strategy. Its main aim is to help avail flight facilities at the lowest possible price. Ryanair has been there for so long and used intuitive tactics to survive.
Ryanair follows a one-way ticketing policy. It means that it has only one price for one flight at a time. The lowest flight fare is available initially, and the price increases as the date of departure draw closer.
On the off chance that Ryanair chooses to operate in Bangladesh, they can offer discounted flight packages. For a 4/3 member family, it offers attractive deals. They can make use of offline media Newspapers. Likewise, they can also sponsor cricket tournaments that are held in Bangladesh. It helps them to reach out to a wide range of customers.
Ryanair target market
Ryanair’s main target customers are people within Europe who mostly travel for private purposes, for example, who visit friends and relatives go on city-sightseeing trips. They are price-sensitive with a lower income level or other preferences and less willing to pay for the add-on services onboard.
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