Free Essay

Return on Advertising Expenditure of Jet Airways

In: Business and Management

Submitted By dhirajss92
Words 1572
Pages 7
Jet Airways
Aviation sector:
One of the growing sectors of the Indian economy is the aviation sector. It is the world's ninth largest civil aviation market and ranks fourth in domestic passenger volume. The civil aviation market in India is all set to become the world's third largest by 2020.
In India's airports sector, total passenger traffic stood at a 169 million in FY14, registering an increase of 5.9 per cent. Domestic passenger traffic expanded at a compound annual growth rate (CAGR) of 11.6 per cent over FY06–14. It is expected to touch 209 million by FY17. International passenger traffic posted a CAGR of 9.6 per cent over FY06-14 and is set to touch 60 million by FY17.
Total freight traffic registered a CAGR of 6.2 per cent over FY06-14. Domestic freight traffic increased at a CAGR of 7.1 per cent over FY06-14 while international freight traffic rose 5.8 per cent over the same period.
The Government of India (GOI) envisions airport infrastructure investment of US$ 11.4 billion under the Twelfth Five Year Plan (2012-17). It has opened airport sector to private participation, six airports across major cities are being developed under the PPP model. It has also allowed 100 per cent foreign direct investment (FDI) under automatic route for Greenfield projects and 49 per cent FDI for foreign carriers.
The Indian aviation sector is expected to see investments worth US$ 12.1 billion during the Twelfth Five Year Plan. Of the total investment, US$ 9.3 billion is expected to come from the private sector. Also, the repair and operations (MRO) business in India, which is currently worth US$ 500 million is estimated to grow over US$ 1.5 billion by 2020. (http://www.ibef.org/industry/indian-aviation.aspx)

Jet Airways
Jet Airways is a major Indian airline based in Mumbai. It is the second largest airline in India, both in terms of market share and passengers carried, after Indigo. It operates over 300 flights daily to 74 destinations worldwide. Its main hub is Mumbai, with secondary hubs at Delhi, Kolkata, Chennai, and Bangalore
Jet Airways was incorporated as an air taxi operator on 1 April 1992. It started commercial operations on 5 May 1993 with a fleet of four leased Boeing 737-300 aircraft from Malaysia Airlines. In January 1994 a change in the law enabled Jet Airways to apply for scheduled airline status, which was granted on 4 January 1995. Naresh Goyal – who already owned Jetair (Private) Limited, which provided sales and marketing for foreign airlines in India – set up Jet Airways as a full-service scheduled airline to compete against state-owned Indian Airlines. Indian Airlines had enjoyed a monopoly in the domestic market between 1953, when all major Indian air transport providers were nationalized under the Air Corporations Act (1953), and January 1994, when the Air Corporations Act was repealed, following which Jet Airways received scheduled airline status.
Jet began international operations from Chennai to Colombo in March 2004. The company is listed on the Bombay Stock Exchange, but 80% of its stock is controlled by Naresh Goyal (through his ownership of Jet's parent company, Tailwinds). It has 13,177 employees (as at 31 March 2011). In January 2006 Jet Airways announced that it would buy Air Sahara for US$500 million in an all-cash deal, making it the biggest takeover in Indian aviation history. It would have resulted in the country's largest airline but the deal fell through in June 2006. On 12 April 2007 Jet Airways agreed to buy out Air Sahara for INR14.5 billion (US$340 million). Air Sahara was renamed JetLite, and was marketed between a low-cost carrier and a full service airline. In August 2008 Jet Airways announced its plans to completely integrate JetLite into Jet Airways

Regression Analysis

Financial Year | Marketing Expenses (Rs in Lakhs) | Sales Revenue (Rs in Lakhs) | 2007 | 98,286 | 8,81,110 | 2008 | 1,09,817 | 11,47,698 | 2009 | 98,491 | 10,35,969 | 2010 | 1,26,172 | 12,73,676 | 2011 | 1,36,167 | 14,81,591 | 2012 | 1,35,856 | 16,85,259 | 2013 | 1,44,829 | 17,30,189 | 2014 | 2,04,094 | 19,57,343 |
Source- Jet Airways annual reports

Regression Statistics | Multiple R | 0.910356 | R Square | 0.828748 | Adjusted R Square | 0.800206 | Standard Error | 168017.2 | Observations | 8 |

ANOVA | | | | | | | | df | SS | MS | F | Significance F | | Regression | 1 | 8.2E+11 | 8.2E+11 | 29.03602 | 0.001682 | | Residual | 6 | 1.69E+11 | 2.82E+10 | | | | Total | 7 | 9.89E+11 | | | | |

| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | Intercept | 80551.44 | 251804.4 | 0.319897 | 0.759893 | -535592 | 696694.6 | -535592 | 696694.6 | X Variable 1 | 10.01073 | 1.857792 | 5.388508 | 0.001682 | 5.464874 | 14.55658 | 5.464874 | 14.55658 |

From regression analysis we can see that value of R square is 0.8287 which shows that there is highly positive correlation between marketing expenses and sales revenue. As we can see from table their highest sales revenue was in 2014-15 and in the same period there marketing expense was also maximum.

Marketing Strategies of Jet Airways
Jet Airways use different types of strategies for the promotion of their services. The common marketing strategies adopted by Jet Airways are as follow: Affiliate marketing program- Jet airways, the India’s largest domestic airline has recently rolled out affiliate marketing programme in the marketing. This is new digital marketing strategy of Jet airways. Under this programme, Jet airways provide affiliate partners with websites and provide the opportunities to these websites to make partnership with India’ s biggest airline. It provides opportunities to partner one of India’s leading brands and generate revenues per conversion by promoting the airline’s web. Moreover, affiliate partner may integrate Jet airways’ booking engine on their websites and allow visitors to book tickets online. Online sales are treated via a unique ID provided to each partner. Affiliate partners may also get promotional content and banners on a regular basis to promote airline effectively. (Seth, 2009)
Removing a row to gain passenger space- Another marketing strategy adopted by Jet airways is about to provide more space to passenger. Jet airways have removed a row of seats from some of its planes to increase overall legroom for passenger. Now it is using an innovative concept of 3D billboard to sell their concept of more space the Mumbai billboard have images of two chairs sitting alongside to each other and then one drifting on railways to reveals the concept, “ we have removed a row to give you more space”. The rows of seats have been removed from Jet airways’ 737-800 series of planes. (Chandran, 2007) Gaurang Shetty, vice president of Jet airways has stated that they want to create an impact and effectively communicate that we have removed a row of seats from our domestic flight. The outdoor innovation has only been done in Mumbai considering the restrictions on the same in other metros.
Partnership with UTV- In 2009, Jet airways has partnered with UTV to launch the online contest ‘Canners Calling’. In this contest the winner will get a chance to attend the film festival 2009 along with the campaign that jet airways is trying to highlight its product superiority. With these type of campaign Jet airways increase its publicity and also give the information about their services and how their services different from other airlines Ethnic marketing in US- Jet airways is relying heavily on ethnic marketing in the US to get in touch with its main target market of non-residence Indian. They are tripping on the distribution networks like grocery stores where they allow access to customer to get tickets. Jet airways have been targeting niche events like Diwali celebrations and India day parade in the US to get targeted exposure with the people who regularly fly to India. Moreover, Lisa realises that these customer shop around a lot to do their homework before they made a purchase and Jet airways offers a product that offers a great value. (Simplifying, online, 2011)
Pricing and Fare strategies- Jet airways also use some strategies related with price or ticketing. For example, sometimes they provide some free tickets to for the promotion of their services. They also provide concessional fares for students on domestic level and also on international level. Jet lite surprises offer corporate deals. All these offers help them to promote their services and also they encourage the people to use their services for all their national or international tours. (Chundawat, 2009) Promotional Activities- Jet airways also use some promotional activities to promote their products or services for example they make Sharukh khan, the bollywood star, their brand ambassador. In the times of fuel price rising they are making the most expensive brand ambassador. The Shahrukh Khan TVC, which broke on September 1, is the first of three campaigns Jet has planned (the ones on economy and premier will follow), and is running across most news channels and some specialised travel channels. Jet is trying to highlight its product superiority. Jet had come out with Boeing 777 last year, which has some superior features and this ad is merely an aim to highlight those features besides trying to latch on to the celebrity appeal of Shahrukh Khan.(online, 2011)
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