It is evident that the 4 P's have changed drastically though all industries through the advancements in social media marketing. There are many companies that have lost jobs as well as many companies that have created jobs to adapt to the changing environment. In this post Team PNB will focus not on the 4 P's as it has effected all industries; but how it has effected one quite dramatically.
Corporate airplanes have been used by individuals, corporations, presidents, and families since the 1940's. Up into the 1990's the only way to find a plane was to either A. go to the factory and buy a plane off the assembly line(if the purchase was a brand new plane). Or B. go through an aircraft broker. This puts all 4 P's into one of two places. There are many different factors that go into the purchase of a new or used aircraft. When many people think of airplane purchases, they only think of buying the aircraft. The "networked world" or Internet has allowed people to gather information about any type of equipment as it relates to their purchase.
Although the aircraft market is a very niche line of sales, individuals are able to explore the vast market of aircraft for sale. Websites have been created that allow people to shop for aircraft by type without the broker(websites below).
The websites have also allowed sellers to sell without the use of aircraft sales companies. Although these companies still exist, business is not thriving as it did it in the past.
Other companies that have taken advantage of the aircraft selling/purchasing process include the equipment companies such as Garmin. Garmin equipment is found in cars, airplanes, helecopters, boats, and many others. They have used satellite technology that get their products into many different products across many markets. Garmin contracts with producers to get their equipment into the other industries' new product sales. Because of the highly recommended Garmin products, aircraft producers put Garmin' products into their aircraft consequently raising the price of the aircraft. The strategy helps promote both industries.
When it comes to the 4 P's. Product has not changes dramatically. Aircraft are still being bought and sold on a regular basis. Companies that put their equipment into aircraft are still using the same strategy to get their product into the aircraft. Price has been slightly effected. Because the information is there for all to see and available for everyone, the prices have slightly declined. The economy has greatly changed the price of aircraft; however, that is a discussion not related to marketing. Promotions have always been present in the market and will always be in the market. Individuals are able to watch the price of particular aircraft change by using the websites stated below. The negotiations always happen and asking price always may differ from selling price. Placement is the "P" that has changed most dramatically. It has created a situation that has led to the disappearance of many jobs in the aircraft sales industry. Aircraft brokers have become obsolete with the establishment of the Internet and expansion of aircraft marketing.
www.controller.com
www.aso.com
www.airplanetrader.com
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