Harvard Case - OurPLANE
"OurPLANE" Harvard business case study is written by Elizabeth M.A. Grasby, Emily Saunders. It deals with the challenges in the field of Marketing. The case study is 12 page(s) long and it was first published on : Sep 7, 2009
At Fern Fort University, we recommend OurPLANE adopt a multi-pronged strategy to achieve sustainable growth and establish itself as a leading player in the private jet charter market. This strategy involves a combination of marketing initiatives, product innovation, and strategic partnerships that will cater to the evolving needs of the target market and leverage the company's unique strengths.
2. Background
OurPLANE, a start-up founded by two former commercial airline pilots, offers a unique service: a private jet charter platform that connects individuals and businesses directly with aircraft owners. The company aims to disrupt the traditional private jet charter market by offering a more accessible and transparent booking experience. However, OurPLANE faces challenges in gaining market share, building brand awareness, and managing operational complexities.
The case study focuses on the company's decision-making process as they navigate these challenges. The main protagonists are the two founders, John and Sarah, who are passionate about their vision but need to make strategic choices to ensure the company's success.
3. Analysis of the Case Study
To analyze OurPLANE's situation, we utilize a combination of frameworks:
1. SWOT Analysis:
- Strengths:
- Direct access to aircraft owners: Eliminates intermediaries, offering competitive pricing and greater transparency.
- Technology-driven platform: Streamlines the booking process, providing a user-friendly experience.
- Experienced founders: Deep understanding of the aviation industry and customer needs.
- Weaknesses:
- Limited brand awareness: New entrant in a competitive market, requiring significant marketing investment.
- Operational complexities: Managing aircraft availability, flight logistics, and customer service across a diverse network.
- Lack of established relationships: Building trust and credibility with both aircraft owners and potential customers.
- Opportunities:
- Growing demand for private jet travel: Increased affluence, time-sensitive business travel, and desire for personalized experiences.
- Technological advancements: Leveraging AI and machine learning for optimized flight scheduling and pricing.
- Partnerships with travel agencies and luxury brands: Expanding reach and targeting specific customer segments.
- Threats:
- Competition from established players: Well-funded competitors with established networks and brand recognition.
- Economic fluctuations: Impacting discretionary spending and demand for luxury travel.
- Regulatory changes: Potential changes in aviation regulations affecting operations and pricing.
2. Porter's Five Forces:
- Threat of new entrants: High, due to the relatively low barriers to entry in the online platform space.
- Bargaining power of buyers: High, as customers have numerous options for private jet charter services.
- Bargaining power of suppliers: Moderate, as aircraft owners can choose different platforms to list their aircraft.
- Threat of substitute products: Moderate, as alternative travel options like commercial airlines and helicopters exist.
- Competitive rivalry: High, with numerous established players and new entrants vying for market share.
3. Customer Segmentation:
- Business travelers: Seeking efficient and convenient travel for meetings, conferences, and client visits.
- High-net-worth individuals: Prioritizing privacy, comfort, and personalized travel experiences.
- Leisure travelers: Looking for luxurious and exclusive travel experiences for vacations and special occasions.
4. Value Proposition Development:
OurPLANE's value proposition should focus on:
- Transparency and affordability: Offering competitive pricing and clear information about aircraft and flight details.
- Convenience and ease of booking: Simplifying the booking process through a user-friendly online platform.
- Personalized service: Providing tailored solutions and dedicated customer support.
4. Recommendations
To achieve sustainable growth, OurPLANE should implement the following recommendations:
1. Marketing Strategy:
- Target market segmentation: Focus on specific customer segments with tailored messaging and marketing channels.
- Brand positioning: Establish a strong brand identity that emphasizes transparency, convenience, and affordability.
- Digital marketing: Leverage search engine optimization (SEO), social media marketing, and online advertising to reach target audiences.
- Content marketing: Create valuable content that educates and engages potential customers about private jet travel.
- Influencer marketing: Partner with industry influencers and travel bloggers to promote the platform.
- Strategic partnerships: Collaborate with travel agencies, luxury brands, and event organizers to expand reach and generate leads.
2. Product Development:
- Enhanced platform features: Integrate AI and machine learning for optimized flight scheduling and pricing.
- Personalized travel experiences: Offer curated flight packages and concierge services for specific customer segments.
- Loyalty programs: Reward frequent users with exclusive benefits and discounts.
- Mobile app development: Provide a seamless booking experience on mobile devices.
3. Operational Efficiency:
- Streamlined booking process: Automate key processes to reduce manual effort and improve efficiency.
- Customer relationship management (CRM): Implement a robust CRM system to track customer interactions and enhance service quality.
- Strategic partnerships with aircraft owners: Build strong relationships with aircraft owners to ensure consistent availability and competitive pricing.
4. Funding Strategy:
- Secure additional funding: Raise capital to support marketing initiatives, product development, and operational expansion.
- Explore strategic partnerships with investors: Partner with industry players to gain access to resources and expertise.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with OurPLANE's core competencies in technology and aviation, and support its mission to democratize private jet travel.
- External customers and internal clients: The recommendations address the needs of both external customers (travelers) and internal clients (aircraft owners).
- Competitors: The recommendations aim to differentiate OurPLANE from competitors by leveraging its unique strengths and addressing customer pain points.
- Attractiveness: The recommendations are expected to drive revenue growth, increase brand awareness, and enhance customer satisfaction.
6. Conclusion
By implementing these recommendations, OurPLANE can establish itself as a leading player in the private jet charter market. The company's focus on technology, customer experience, and strategic partnerships will enable it to capitalize on the growing demand for private jet travel and achieve sustainable growth.
7. Discussion
Alternatives not selected:
- Focusing solely on a niche market: While targeting specific customer segments is important, focusing solely on a niche market could limit growth potential.
- Ignoring the importance of brand building: Building a strong brand identity is crucial for attracting customers and differentiating from competitors.
- Delaying investment in technology: Technology is essential for streamlining operations, improving customer experience, and staying ahead of competitors.
Risks and key assumptions:
- Market competition: The private jet charter market is highly competitive, and new entrants may emerge.
- Economic fluctuations: Economic downturns could impact demand for luxury travel.
- Regulatory changes: Changes in aviation regulations could affect operations and pricing.
8. Next Steps
- Develop a detailed marketing plan: Define target markets, messaging, and marketing channels.
- Implement a CRM system: Track customer interactions and enhance service quality.
- Secure additional funding: Raise capital to support growth initiatives.
- Build strategic partnerships: Collaborate with industry players to expand reach and generate leads.
- Monitor progress and adjust strategies: Regularly assess performance and make adjustments as needed.
By taking these steps, OurPLANE can position itself for success in the dynamic private jet charter market.
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Case Description
The president and chief executive officer of a fractional aircraft ownership company based in London, Ontario, must devise a growth strategy and marketing plan for OurPLANE's upcoming year since there is an opportunity to purchase several more aircraft at deeply discounted prices. Students are asked to (1) perform a thorough company size-up, (2) complete an industry analysis of the fractional aircraft ownership industry, (3) analyze competition, (4) complete a consumer analysis, (5) calculate the company's margins and profitability, (6) use the external and internal analyses to develop a growth strategy and (7) analyze the company's marketing strategy.
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