Task

Having analysed and evaluated the case study, you are required to carry out the following tasks:

• Critically analyse the EasyJet case study and carry out an external environmental analysis using appropriate international marketing theory and market research evidence retrieved both from the case study and from secondary sources. In particular, focus on the importance of the wider and competitive environments for EasyJet in Europe.
• Bearing in mind the current state of the global economy, and your earlier analysis of EasyJet in Europe, research the Indian market using international market research theory. Then, based on your own secondary research of India, segment, target and position EasyJet within the Indian market to allow the company to grow and sustain competitive advantage.

Solution

Introduction:

The company Easyjet is one of the leading cheapest airline companies in the European market, and its mission is to offer low-cost service to the masses. The company established in 1995 is the fourth leading airline in the UK budget airlines. The European airline industry, in recent years, has undergone vast changes and has exhibited impressive dynamics. The industry has gone into the change regarding the supply and demand. Not like other industries, the recent changes in this industry have not been shaped by the technological advancement, but more by the introduction of institutional, cultural, and legal domains. The institutional and legal aspects of the market have influenced it much. Few industries have seen such drastic changes on its supply side as the European industry. The industry last 20 years has evolved transitioning from state-owned long-established carriers to a dynamic free-market industry. Before the deregulation of the industry, there were only one to two carriers who operated on the European routes. The bilateral agreements of state, then regulated the fares. After the process of deregulation of the industry and the process of privatization, the structure of the market has seen many changes.

The European deregulation had started after ten years of the US liberalization of markets. The full deregulation was enacted through the Three Policy packages in 1997. The competition freely provided on routes, prices, frequencies, and service levels shaped the new industry. Even though the bilateral agreements currently regulate much of EU network, there has been the significant impact of the structure of the network for the carriers. The first change was accounted for the rise of the international mergers and alliances arising from the demand of the market and also by the supply of the market. The growth of the low-cost carriers was the second change which emerged as a result of this deregulation. Companies like Easyjet and Ryan air experience fast growth by competing with the full-service carriers for a coincident segment, same routes. The success of the business model was most prominent when these new carriers did not suffer much after the 9-11 incidents like other airlines because of its low-cost model which attracted many passengers (Cento, 2009). Globalization has not only provided opportunities for the manufacturing industry, but it has also provided opportunities for the airlines in the shape of emerging markets. This case will analyze the potential for Easyjet, the low-cost carrier in the Indian market.

Analyze the Easy Jet Case Study

Managers are increasingly convinced on the requirement of companies to build the knowledge, skills and aptitudes for competing effectively in the international markets. With the emergence of the open global market and the expansion of internet increasing the interconnections, its need is critical to the success (Doole & Lowe, 2012). The case revolves around the company Easyjet which is a low-cost carrier airline founded in 1995 by the founder Stelios Haji-Loannou. The company then targeted the market for providing low-cost and affordable travel solutions for travelers. The company was founded in the UK and provided its services to Eastern and Western Europe. The case looks at the company Easyjet regarding its growth in the UK market and abroad. The case specifically entails information on the UK airline Industry, its country profile, and the performance of Easyjet. Other than this, it also shows how the UK has always tried to expand its business to international markets and to form strategies in this context. The case provides the rationale for expansion in the emerging market, specifically in India. The case shows the potential of India as a market has the highest potential for growth for the low-cost air carriers. The case presents it as a suitable destination for expansion for Easyjet. It also shows the challenges that the company Easyjet would face in the Indian Market and the opportunities that it can exploit.

The international market is not an easy market to conquer; companies need the resources to tackle the complexities of the marketing on international basis (Doole & Lowe, 2012). The case also shows the research conducted in the UK airline industry and one the market of Easyjet in context of the British and Indian consumers. The case shows how the different motivations of the consumers, make them choose different airlines. The case shows that price is specifically the most substantive influential factor which influences the decision of the airline. Furthermore, the difference in the influences is evident in the decision making the process of the British and Indian passengers. The case represents that research has shown that the passengers are loyal to their airlines as surveyed by their use of the same airlines in the last 12 month period. The case shows how this data can help the airlines in providing better and efficient service to its targeted markets.

External Environmental Analysis:

The airline industry of UK is one of the most active airline industries in the world. The airline industry of UK includes a wide array of airlines ranging from international airline groups to low-cost carrier models. The number of people, which are employed by the airlines of the UK worldwide as of 2015 was 78,103. The passenger movement from the airports of the UK and the airports of the EU as of 2014 shows the figure of 137 million passengers. The passenger traffic in Heathrow Airport of London reports 78 millions of these passengers. The seat occupancy rate of the Easyjet flights as of 2016 has been 89.9% (Statista.com, 2017). The statistics show that in the airline industry in the UK regarding the number of passengers traveled the airlines in 2016; Easyjet is ranked number 1 with the uplifting highest number of passengers from UK (63 million passengers. The second highest number of passengers uplifted from the UK is reached by the British Airways with 42 millions of passengers. These two were accounted for about 73% of the total passengers uplifted by an airline from the UK in 2016. The company Easyjet, as a low-cost carrier provides about 45% of air traffic of the UK-based airlines. The company has over 10,000 employees, and with its 23 years of experience in providing services to more than 130 destinations. (Statista.Com, 2016)

Figure 1: European Airlines Revenue

Europe Airline Group Graph Adapted from European Union. (2016). EU Annual Airline Indurty Report 2016. Retrieved June 6, 2018, from https://ec.europa.eu/transport/sites/transport/files/2016_eu_air_transport_industry_analyses_report.pdf

The Easyjet airline is ranked in the European Union 2016 Airline Industry report as the 9^th airline with the highest number of passengers. It is the only European airline in the ranks other than Lufthansa, which is ranked 8^th with 79 million passengers (European Union, 2016, p. 12). The European air traffic market analysis shows that the during 2015 increase in air traffic were highest for Ryan air by 17% and Easyjet by 6% (European Union, 2016, p. 41). Both companies were also ranked as the third and fourth-ranked low-cost carriers (European) with higher operating profits as compared to the other European airlines. Easyjet had reported 14.7% of operating profit. Both carriers were accounted for providing 50% of the total capacity in Europe regarding Low-Cost capacity (European Union, 2016, p. 91).

Looking at the customer perspective of the airline industry, it can be said that the out of all the complaints, Easyjet received 11% of the complaints. It can be attributed to the fact that the company uplifts highest passengers as well, which can be one factor (European Union, 2016, p. 217). Easyjet was also the second-ranked airline which provided the highest air traffic on the UK airports.

Figure 2: Share of Pax

Share of Pax Graph Adapted from European Union. (2016). EU Annual Airline Indurty Report 2016. Retrieved June 6, 2018, from https://ec.europa.eu/transport/sites/transport/files/2016_eu_air_transport_industry_analyses_report.pdf

These statistics show the strength of the Easyjet airline in the UK and European Market. It shows that the company has consumed its position in the UK market, and it now needs to look at new markets for expansion.

International Marketing Theory

With the rise of globalization, companies are frequently looking for opportunities in international markets to expand their business. The increased interconnections and globalization of tastes and growth in the internet has pushed the need for international marketing strategies to a new extent (Doole & Lowe, 2012). The international business theories act to explain the various strategies that these companies can use to participate in the international markets actively. The theories are presented to understand the international market theories regarding Easyjet case study (Cabral & Schaefer, 2016). The importance of the international trade can be deduced from its expansion. The international trade in 2011 was recorded to exceed US $ 10 trillion in merchandise only (Doole & Lowe, 2012).

OLI Theory:

The OLI theory represents the three essential factors which are needed to influence the economic outcomes and competitiveness of Easyjet. The theory shows that the factors of Ownership advantage, location advantage, and the internationalization advantage are important to consider while looking for business competitiveness.

The Ownership Advantage:

The advantage of ownership that is translated as specific benefits for the enterprise as a result of the activities in foreign direct investment is attributed here. These benefits can be in the form of marketing competencies, service business model, copyrighted services, or leadership abilities. The rule of thumb in this regard is that the greater an advantage is perceived regarding the firm, the greater are the chances that the firm will venture into its foreign line of business. The OLI theory shows that the ownership advantage arises by using the exports, foreign direct investment or licensing as the market entry strategies (Wang, 2014).

The airline industry is sensitive to the ownership advantages of reputation, capital structure, ownership structure, economies of size, and leadership.

Location Advantages

These advantages as per the OLI theory represent the particular advantages which arise when a firm pursues its operations in a specific location. The benefits which can come from these types of advantages can be in the form of low-labor costs, tax benefits, or low production costs. These advantages provide the investing firm the incentives to engage in business in the specific location (Fletcher & Crawford, 2013).

For the airline industry, the location advantage lies with the tradability of the service offered which means that they are dependent on specialized infrastructure like airports. The airlines also have to consider special interest in the regulatory environment of the location.

Internationalization Advantage:

The third factor which is important for a business to operate in foreign operations is the internationalization advantage. It is the advantage which is also known as the internationalization theory. The specific advantages which arise from this factor can be in the form of economies of scale, low production cost propositions, or specialized offerings or processes. These advantages occur when a firm undertaking international operations enjoys internal production as compared to the third-party licensing or partnership or outsourcing. The approach for this factor is incentivized by the benefits of internal production (Persinger & Civi, 2011). Research has shown that the firms which were able to perceive the changes beforehand and develop strategies accordingly were the most successful ones (Doole & Lowe, 2012).

The airline industry can have an interest in this context for the internationalization advantage of the quality and process control and adaptability. Regarding Easyjet, the theory shows that going into the Indian market would need to provide the company with the advantages of Ownership, location, and internalization to undergo expansion. Thus, for the exploitation of the emerging market of India, Easyjet needs to follow the internationalization advantage.

UPPSALA model:

This model is one of the most discussed models in international perspectives. The model shows the necessary sequential steps which are required to be undertaken to expand internationally. The model is also known as the establishment chain. There is difference between exports, international marketing, and expansion (Doole & Lowe, 2012). The company, according to this model, having little or no knowledge of the foreign market, starts by exporting as it provides low risks. With time, the experience in the market increases, making room for more risky ventures promising higher profits. The establishment chain shows four steps for entrance in the international market. These include.

1. Non-regular export
2. Export through independent agents
3. Foreign sales subsidiaries
4. Foreign manufacturing

The model shows that firms try to internationalize in markets which are only slightly different to their home markets. This difference between the markets is termed on the theory as the ‘psychic difference”. The psychic difference explains the change in the language, culture, or social behavior of the markets. Thus, the firms trying to expand their business tend to choose the markets with a lower psychic difference and then move forward to the ones with a larger psychic difference with the increase in information and experience in the international markets (Shaw & Onkvisit, 2008).

The model also shows that there is the existence of a positive correlation between commitment and knowledge of the market. A successful company would always base its success on the early identification of the changes in the market. The foresight of the management and the learning gathered from the market is crucial for success and competitive advantage which can sustain longer (Doole & Lowe, 2012). The rise in the knowledge of the market would lead to higher commitment to that market. Thus, a lower knowledge of the market would lead to lower commitment to the market (Charles & Anderson, 2016).

Regarding Easyjet, this theory shows that the UK market as being the home market for the airline and the Indian market as being the foreign market provides the greater psychic difference for the company. The European markets like Turkey and Greece and other European states offer low psychic difference because of which the company has been quite successful in these regions. The entry into the American market would also work because of the low psychic difference as compared to the Indian market. However, because of the high potential of the Indian market, the company should take the risk of entering this market (Vasudeva, 2006). It can follow the chain of the establishment by entering the Indian market by forming a partnership with a local carrier. After some acquisition of foundational knowledge and experience of the market, it can undergo a merger or complete acquisition of a local airline for its expansion (Onkvisit & Shaw, 2009).

Market Research Evidence from a Case Study

The last ten years of the airline industry have marked a change in the airline industry. The biggest change is attributed to the emergence of the low-cost carrier sector, which has now dominated the short-haul industry. The considerable consolidation in the tradition of the full-service sector in the Virgin Atlantic, British Airways, and Bmi has made them emerge as stronger as well. The prediction was that the low-cost sector would see the highest level of growth by 2010 regarding passengers carried and capacity. The prediction was also to face competitive challenges on some of the highly competitive European routes. The accession of the eastern countries of Europe in the European Union has led to making Europe one of a fast-growing travel destinations. The major competitors of this industry include the airlines of Ryanair, Easyjet, Monarch, Flybe, and Zoom airlines. The market leader of the industry was Ryan air in 2006 by carrying 42 million passengers and Easyjet the second-ranked with 34 million passengers.

The case shows that the increased number of low-cost carriers has made the market more competitive, and consumer bargaining power has increased. The consumers now have the choice to select the best rates for themselves. The business travelers who had historically preferred fully-services, air travel is now choosing the low-cost carriers as well because of their declined profitability and budget constraints.

The case shows that the British Airways, Virgin Atlantic, and bmibaby carry 50 million of the total passengers between them each year. The airlines, British Airways and BMI were ranked as the top two regarding passengers carried. However, as this data is older, the current data mentioned above shows that this position is taken by Easyjet from BMI in 2016. British Airways have merged with many other brutish scheduled airlines like the GB Airways, Manx, British Regional Airlines, and City Flyer Express.

Market Research Evidence from Secondary Sources

It has been evident that companies who wish to be successful in the international arena need a clear and focused foreign marketing strategy. This should be based on understanding of the markets in which it is expecting to operate (Doole & Lowe, 2012). The budgeted airlines were the industry sector which was once ridiculed for cattle-like boarding and cramped seats. However, these airlines have come of age. Furthermore, the industry has dominated the important markets of the world through its discount carriers. The carriers are now stealing passengers from the full-service carriers as well. For the first time, in 2016, the sector carried more than 1 billion of passengers which is about 30% of the total 3.7 billion fliers who have flown through the airlines (Wall & Carey, 2017). Easyjet with being one of the highest passenger uplifting airlines of the low-cost carriers has seen its profits for 2017 fall by 17% with £100 million loss from the downfall of the value of the pound in response to the BREXIT vote. The airline had reported its record passenger number with 80 million people in 2017 which are 10% more than 2106. The year was termed as difficult for the overall aviation industry. The company has been ranked in the top airlines with its efficient customer service, substantial cost control, and strategic competitive advantage in times when other airlines are filing for bankruptcies and struggling operationally. The airline is expecting to expand its capacity by 6% in 2018 before the addition of the Air Berlin slots. The company has acquired the German airline with leases of 25 aircraft and its 1000 crew. The company had about 60 million repeat customers in 2016 which says a lot about customer loyalty, customer service, crew, and the people of the airline (Topham, 2017).

Competitive Environments for Easy Jet in Europe

Globalization has increased the options for the market. While new opportunities are presented to the companies, new alternatives are also made available to the market. In this environment, innovation is one of the competitive variables. However, market penetration along with innovation serves better (Doole & Lowe, 2012). The low-cost airline industry was valued at $117 billion in 2016 and is expected to grow substantially by 2023 to $208 billion. The factors which are expected to lead the industry to this growth are found in the ease of travel, the increasing economic activity, urbanization, continuing preference of consumers for low-cost services, and travel and tourism industry growth. The research report of Allied Market Research also contributed to the success of Easyjet and Ryan air to the increasing purchasing power and e-literacy of the middle-class households. In 2016, from a total of 3.8 billion of scheduled passengers of airlines, the 28% was contributed by the low-cost airlines. The European markets, specifically prefer to go for low-cost carriers; around 80%.  The UK market for airline companies if going from strength to strength. The competition is fierce on routes, service, prices, and capacity (Rogers, 2018).

The Indian Market

Financial innovations, value-based marketing, networking, and countertrading are all increasingly important concepts for the development of a successful strategy. The strategy needs to have a clear, competitive international focus, effective relationship strategy, and a well-managed organization for the culture of learning (Doole & Lowe, 2012). Internationalization is the process of increasing activities outside the country of the incorporation. This involves two major decisions, the market mode of entry and the market selection. The choice of entry is considered as one of the major factors which influence the success of the firm facing the internationalization process. The mode of entry is generally conceptualized along the continuum starting from export o the services, to contracts, any of forms of co-operation, and finally to fully own the subsidiary. The advantages that each firm has will affect the decision of the mode of the entry preferred by it.

Figure 3: Entry Mode OLI Theory

Entry Mode OLI Theory Table adapted from Albers, S., Heuermann, C., & Koch, B. (2009). International market entry strategies of EU and Asia-Pacific low fare airlines. Retrieved from https://www.econstor.eu/bitstream/10419/59782/1/61578559X.pdf

The airline industry, through internationalization, links their home to other nations by using various entry modes. The offering of flights to international destinations, an airline is engaged in the export of its services. Any type of cooperative model like code-sharing or block-space agreements acts as contractual agreements. These types of agreements can be supported using equity participation to have more controlling rights of the partner. The last stage is the full acquisition which provides full control of the airline over its subsidiary and its market. The airline can also set up its own subsidiary.

Figure 4: Entry Mode for Airlines

Entry Mode for Airlines Table adapted from Albers, S., Heuermann, C., & Koch, B. (2009). International market entry strategies of EU and Asia-Pacific low fare airlines. Retrieved from https://www.econstor.eu/bitstream/10419/59782/1/61578559X.pdf

The entry modes are technically all available for the airlines; however, the options are selected based on the motivation of the airlines for their internationalization strategy. The formation of the numerous airlines in the Asia-Pacific region in the low-cost business has enlarged the network for the low-cost carriers in all regions of the world. The last years are marked by the new foundation of the airlines in the emerging regions of Asia of which India stands out to be the most remarkable and dynamic. The Air Deccan, Air India, Indigo Air, Paramount Airways, Go Air, and Jet Lite are the ones who have established in between 2003 to 2007.

The Asian market for the low-cost carriers has shown a striking feature. Mostly half of the low-fare carriers in this market are not offering any international services, not even by export. Another group in this sector is heavily reliant on exports as its mode of entry. The carriers in this group are from different backgrounds and have the possibility of future internationalization. A considerable number of these companies belongs to the carriers or their subsidiaries. It shows that these firms can internationalize better and faster as these companies have stronger firms behind them. Only a small number of carriers in the Asian market are pursuing the contractual alliance, own boss, or national subsidiaries.

Airline	Founded	Capital Structure	National Base	Export Mode of Entry	Remarks
Air Deccan	2003	Kingfisher-46%, 54% private	Delhi, Bangalore, Mumbai, Kolkata, Hyderabad		No internationalization
Air India Express	2005	100% owned by Air India	Kochi, Mumbai, Madras, Kozhikode	9 countries, 13 destinations	Export
Go Air	2005	100% private	Mumbai, Delhi, Hyderabad		No internationalization
Indigo Air	2005	100% private	Bangalore, Kolkata, Delhi, Mumbai, Hyderabad		No internationalization
JetLite	1991, Re-launched 2007	100% owned by Jet Airways	Mumbai, Delhi, Hyderabad	3 countries, 3 destinations	Only Export
Paramount Airways	2005	100% private	Hyderabad, Madras		No internationalization
Spice Jet	2005	100% private	Mumbai, Hyderabad, Delhi		No internationalization

Table adapted from Albers, S., Heuermann, C., & Koch, B. (2009). International market entry strategies of EU and Asia-Pacific low fare airlines. Retrieved from https://www.econstor.eu/bitstream/10419/59782/1/61578559X.pdf

The Indian aviation industry after the economic liberalization of 1990 has boosted its value. The forecasts for the Indian aviation industry shows it to become one of the largest aviation markets by 2034

The country has passenger traffic of 265 million, and IndiGo owns the market share with 38.2%. The revenue passenger by kilometers of Air India is 41.4 billion. The airline Air India reported 3 billion of USD revenue.

The domestic market share is led by IndiGo with 38%, and Jet Airways has 15% of the market with being second. Spice Jet is third regarding the passengers uplifted in domestic flights with 13.8% share, and Air India is fourth with 13.5% (Statista, 2017).

The market potential of the Indian market is outlined by showing that only 0.3% of the Indian travel for a holiday every year while about 100 million can afford to do so. It is depicted by the high household income that the middle-income households enjoy in India.

The main motivations of the travel by Indians are to meet the family, or for education or business. The travel industry can boost to provide $40 billion by 2027 from the current $16.4 billion. The country is ahead of Canada, Australia, and South Korea ranks it sixth in the world. The CAPA CEO had mentioned that if there is an industry in which the low-cost carriers can work, then it is India (Shah, 2018).  The aviation industry is expected to displace the UK market in 2025 or third place. The market size of India can be seen through its air traffic, which rises to 15% on year growth to 280 million in 2018. The total number of passengers stood at 265 million in 2017. There are 550 commercial aircraft as of 2018 in India (IBEF.Org, 2018).

Easy Jet would face many challenges entering into the Indian market as well. The increasing unemployment in the India is expected to weaken the economy. The poverty has improved in India; however, 100 million people are still living under the line of poverty (Economic Times Bureau, 2017). The middle class of the Indian market holds the opportunities for Easyjet. The corporate income tax of India is far higher than the UK, which will act as one of the main costs for Easyjet. The VAT however, is lower in India than in the UK. The fuel taxes also provide a major challenge as they are higher than any other aviation industry. In fact, the fuel bills are one of the highest operating costs of the airline operating budgets and also one of the biggest contributors of the airline losses (Singh, 2016). The current airlines that are operating in the Airline industry will essentially enjoy its competitive edge with higher knowledge and higher experience in the Indian market. Air Deccan is one of the prime competitors which have modeled it on the business model of Easyjet. The bargaining power of the consumers of airline services is also comparatively lot higher in India, which makes the airlines to compete on price. Language is one of the barriers which can be removed by using the local resource for customer service and aircraft crew. The cultural differences are also huge which are needed to be considered as well. The infrastructure of India gives the challenge even with all opportunities provided. The lack of competent airports and their proximity to the other locations can become a barrier. However, with all these challenges, the opportunities offered by India are worth the risk. Easyjet should opt for acquiring a local-privately owned airline or forming a new subsidiary in partnership with one of the local airlines with the majority stake to enter the market. This will not only reduce the risk, but also provide it leverage for controlling the activities of its partners and profits as well.

Conclusion:

Easyjet is known for its low-cost airline service with high customer service. The company has surpassed others in the market and has reported the highest number of passengers uplifted in 2017 exceeding the 80 million passenger threshold. The airline after expanding within Europe has ripened to expand its business in the emerging markets like India, which provides great potential for the aviation industry in its coming years. The industry is expected to surpass UK industry by 2023. The mode of entry into the market would be to form a partnership with a local airline, which is currently operating in India, or form a new subsidiary with a current airline with a majority stake in it. It will enable the company airline Easyjet to mitigate its risk and also have control over its operations.

References:

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