For the airline industry answer each numbered question! 1.Thefunctions served by the product/Why customers buythe...

For the airline industry answer each numbered question! 1.The functions served by the product/Why customers buythe products or services.2. Stage of the product life cycle.3. Economic trends.4. Demographic trends. 5. Social/cultural trends.6. Political trends.7. Technological trends.8.Programs developed by companies in the industry (newmarketing programs, new distribution channels, etc.)9.Pricing actions/trends (how do competitors us price as acompetitive weapon, etc.

Expert Solution

According to chegg policy at least 4 parts of the question has to be answered.

1) To travel for longer distance, customers find it convenient to travel via airline. Trains ,cars, buses are preferred to travel relatively smaller distance.

2) In the developed countries, airline industry has matured while in developing countries, there is huge growth potential.

3) Due to covid-19, a contraction in revenue is unavoidable. All airlines are expected to post a loss in the financial year 2021.Airlines are significantly discounting the ticket price which adds a hole in the pocket for the airline operators.

4) People born between 1946 and 1964, also known as baby boomers. The spending by them are supposed to decrease as they are retiring. spending by Generation X and Y (born between 1965 to 1999) is increasing and will constitute most of the market by 2025.

Rahul Sunny answered 2 years ago

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