Ryanair Pricing Strategy Of Marketing Essay

Marketing is a very important tool that enables a product to be marketable. Individuals and groups acquire what they want and need in a social and managerial process through designing and interchanging products and value to others is called marketing (Kotler et al, 1999). Companies create customer attention in their products and services through the process of marketing. Thus, it brings into existence of plans that form the foundation of sales techniques, business development and business communication. This process is combination process where companies can establish strong customer relationships and bring value for their customers and for themselves. Furthermore, marketing is a continuous process. This has made businesses to be always equipped in order to respond to their customer’s response and changes all the while. Profitability must be taken to consideration as it is the main

Price actually have an influence on the customers’ positioning of brands and affects financial performance. It plays a dominant role in positioning strategy and pricing decisions. Pricing objectives are to make sure that a company makes profit and survive in the market. In certain cases, price can become measure of the product quality. Luxury products tend to link to a higher price. However, for some companies low price is important to attract their customers. Ryanair is the leading European low-cost airline where they claim to be the most profitable airline in the world. Their concept of low price flying has taken business away from higher priced airlines in Europe and other low cost operators as they has drastically expanded their travel routes. While the global industry lost nearly $50 billion, Ryanair was gaining profits for 9 out of 10 years (Fottrell, Q., 2010). Pricing decisions has its consequences for most companies but importantly not all value-based strategies require low