1.0 Introduction
In today’s global and highly competitive business environment, business enterprises, whether large or small, cannot hope to thrive or grow without proper planning. Running an airline is similar to running a business, in other words, an airline is simply a business or at least should be treated as such for it to survive. This coursework presents a broad insight into the meaning of a business plan, its definition, its significance and how crucial it is towards the success of any startup business. The basic content of a typical business plan are highlighted and the peculiarities of each content in relation to the business plan of an airline were discussed. Emphasis will be on the operational, commercial and licensing elements…show more content… A Business Plan is simply a document in print that summarizes the financial and operational goals of a business including details on how those goals can be achieved. There is an old saying that goes like, “if you fail to plan, you plan to fail” hence the importance of having a sound Business Plan cannot be overemphasized. The following are the advantages of having a Business Plan for a startup…show more content… It is even more important to know that the startup airline as whole is a commercially viable and profitable venture. The strategies involved in making airline products and services sellable and at the same time maximizing profits are contained in the commercial and marketing plan. This section allows you to focus more on your target market to know the extent at which your products can satisfy their needs. A good way to begin is to start with a general industry overview, analysis of market demand, growth forecast, market competition, and thereafter a target market analysis. Other analyses that are contained in the commercial and marketing plan include SWOT analysis (Strength, Weakness, Opportunities and Threats), route profitability analysis, schedule development and optimization. Here in this section, the airline’s market penetration strategy is discussed so also strategies for increasing the market share once penetration has been achieved.. A good marketing strategy should include a clear information about the target market, pricing structure, target clients, customers profile, current and future competitions and promotional and media methods used to reach out to potential customers. Above all, the commercial and marketing plan should encompass the four “P”s of