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- All Subjects: Airlines and Finance
- All Subjects: Group identity
- Creators: Kumar, Ajith
Description
Millennials are the group of people that make up the newer generation of the world's population and they are constantly surrounded by technology, as well as known for having different values than the previous generations. Marketers have to adapt to newer ways to appeal to millennials and secure their loyalty since millennials are always on the lookout for the next best thing and will "trade up for brands that matter, but trade down when brand value is weak", it poses a challenge for the marketing departments of companies (Fromm, J. & Parks, J.). The airline industry is one of the fastest growing sectors as "the total number of people flying on U.S. airlines will increase from 745.5 million in 2014 and grow to 1.15 billion in 2034," which shows that airlines have a wider population to market to, and will need to improve their marketing strategies to differentiate from competitors (Power). The financial sector also has a difficult time reaching out to millennials because "millennials are hesitant to take financial risks," as well as downing in college debt, while not making as much money as previous generations (Fromm, J. & Parks, J.). By looking into the marketing strategies, specifically using social media platforms, of the two industries, an understanding can be gathered of what millennials are attracted to. Along with looking at the marketing strategies of financial and airline industries, I looked at the perspectives of these industries in different countries, which is important to look at because then we can see if the values of millennials vary across different cultures. Countries chosen for research to further examine their cultural differences in terms of marketing practices are the United States and England. The main form of marketing that was used for this research were social media accounts of the companies, and seeing how they used the social networking platforms to reach and engage with their consumers, especially with those of the millennial generation. The companies chosen for further research for the airline industry from England were British Airways, EasyJet, and Virgin Atlantic, while for the U.S. Delta Airlines, Inc., Southwest Airlines, and United were chosen. The companies chosen to further examine within the finance industry from England include Barclay's, HSBC, and Lloyd's Bank, while for the U.S. the banks selected were Bank of America, JPMorgan Chase, and Wells Fargo. The companies for this study were chosen because they are among the top five in their industry, as well as all companies that I have had previous interactions with. It was meant to see what the companies at the top of the industry were doing that set them apart from their competitors in terms of social media marketing content and see if there were features they lacked that could be changed or improvements they could make. A survey was also conducted to get a better idea of the attitudes and behaviors of millennials when it comes to the airline and finance industries, as well as towards social media marketing practices.
ContributorsPathak, Krisha Hemanshu (Author) / Kumar, Ajith (Thesis director) / Arora, Hina (Committee member) / W. P. Carey School of Business (Contributor) / Department of Information Systems (Contributor) / Department of Marketing (Contributor) / Hugh Downs School of Human Communication (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
Understanding the customer experience, which requires a thorough knowledge of all touchpoints that can result from the way that a product is marketed, sold, and used has recently been identified as a research priority by the Marketing Science Institute. Although recent research has examined some aspects of the customer experience, research has yet to examine the way in which the full spectrum of touchpoint experiences may drive particular marketing performance metrics. Significant challenges to this line of research are the complex network of relationships that competing firms have forged with channel partners, the relationships that focal customers have with other customers in social networks and user communities, and the relationships that customers have with the brand and with channel partners. To address these challenges, this paper examined the customer experience and its effects on loyalty and commitment through three research projects conducted in the consumer aviation market. The first and second studies examined these touchpoint experiences using archival data supplied by an avionics manufacturer. Results from these studies showed the importance of the customer experience in accounting for customer loyalty. The final study examined the role of identity in shaping the customer experience among aircraft owners through a series of depth interviews. Results from these interviews illustrated the importance of identity in shaping the customer experience, and provided insights into how individuals attempt to use their consumption experiences to reinforce a sense of identity
ContributorsLoveland, James (Author) / Hutt, Michael (Thesis advisor) / Kumar, Ajith (Committee member) / Walker, Beth (Committee member) / Arizona State University (Publisher)
Created2011