Introduction to Marketing Management

Individual Presentation
Ryanair Holdings Plc- Product Life Cycle

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 Table of Contents
Introduction...................................................................................................................... 3
Ryanair Background.........................................................................................................3
An Overview of the Product Life Cycle.............................................................................4
Marketing Strategies Ryanair Adopted Each Stage of the Product Life Cycle.................4
Introduction Stage........................................................................................................ 4
Growth Stage............................................................................................................... 5
Maturity Stage.............................................................................................................. 5
Decline Stage............................................................................................................... 5
Recommendations........................................................................................................6
Limitations of The Product Life Cycle...............................................................................6
Delays and Fluctuations in Sales Data.........................................................................6
Market Conditions May Vary........................................................................................ 6
Conclusion....................................................................................................................... 7
References.......................................................................................................................8

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Introduction
Marketing management refers to the oversight and management of a wide range
of marketing events and the individuals involved in them including managers,
contractors, marketing management professionals, and others. The processes of goal-
setting and marketing strategy development often go hand in hand in organisations
(Park, 2020). Management and marketing teams embrace the notion of product life
cycles when deciding the time and way to implement changes to the facets like
advertising, pricing, product distribution, and packaging (Baker, 2017). Additionally, this
study aims to serve a background of Ryan Air Holdings and its
'intangible/tangible/physical' product. The presentation aims to provide an overview of
the product life cycle. In addition, the study will evaluate the marketing strategies that
Ryan Air Holdings has chosen for the product in every phase of the product life cycle. In
addition, the study will identify the limitations of the product life cycle.

Ryanair Background
Ryanair UK, Lauda, Buzz, and Malta Air are all subsidiaries of Ryanair Holdings
plc, the biggest airline holding company in Europe. With ambitious sustainability targets
set for 2030, the company is Europe's eco-friendliest and cleanest airline company.
Moreover, the business has the lowest prices in Europe and flies to over 240 different
cities in 40 different countries (Ryanair.com, 2023). Success with its low-cost business
strategy and the liberalisation of the European aviation industry in 1997 has been
credited with the airline's rapid growth. Whilst Ryanair operates flights to and from 37
different European countries, as well as Morocco in Africa and Israel and Jordan in the
Middle East (FinancialTimes, 2023).
The aviation sector in the United Kingdom is responsible for £52 billion in GDP,
960,000 jobs, and £8.7 billion in taxes, according to recent statistics. With a 101.06
percent rise from 2022, Ryanair Holdings' 2023 revenues amounted to $11.221 billion
(Ryanair.com, 2023). Ryanair Holdings contains 19,116 employees in 2022, a 27.3%
rise from 2021. Moreover, Ryanair had grown its market share to over 60% (Statista,
2023). Due to its many economies of scale, Ryanair is able to keep its comparatively
cheap fares while growing its profit margins (Ryanair.com, 2023).

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 EasyJet, Innair. Lufthansa Group, Flybe and SAS - Scandinavian Airlines are the
direct competitors of Ryanair. The indirect competitors of Ryanair include the traditional
airlines, such as AirFrance or BritishAirways. The legal name of Ryanair is RYANAIR
HOLDINGS PUBLIC LIMITED. Public limited company formed in accordance with
Section 17 of the Companies Act 2014 (Icaew.com, 2023). The Board has given the
Group CEO and the rest of the executive team broad authority to run things. The Group
CEO and the Chairman have roles and duties that have been formally defined and
authorised by the Board of Directors as the leadership team at Ryanair (Ryanair.com,
2023).

An Overview of the Product Life Cycle

There are four phases in a product's life cycle: introduction, growth, maturity, and
decline (Armstrong, 2009). Managers and marketers use product life cycles to choose
when and to what extent advertisement a product should take place, price to charge for
it, whether or not to enter new markets, whether or not to change its packaging, and so
on (Cao and Folan, 2012). Marketers use the Product Life Cycle since it is significant for
modern industrial production facilities to maintain profitability and competitiveness for
business. Moreover, Businesses may benefit from product's life cycle management by
streamlining production, reducing costs, increasing product quality, and reacting more
quickly to market changes (Kotler and Armstrong, 2016).

Marketing Strategies Ryanair Adopted Each Stage of the Product Life Cycle
Introduction Phase
Product - The new 737NG fleet is the product in the introduction stage is shown it off to
prospective customers. It is a brand-new, cutting-edge aircraft created to draw in new
markets.
Price - At this point, Ryanair might provide special introductory rates or incentives to
entice early adopters and help the new aircraft establish a foothold in the market.
Place - The new 737NG fleet will be first made available to prospective buyers in
particular locales or markets where Ryanair plans to increase service.

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Promotion - Ryanair will vigorously advertise the features and advantages of the new
737NG fleet through advertisements, events, and focused marketing campaigns during
the introduction phase.

Growth Stage
Once product-market fit has been established; a product enters the growth
phase. Growing the user base quickly, honing attention on acquiring new customers,
and finishing the development of the product's features are all priorities before release
(Cao and Folan, 2012).
Product - The new 737NG fleet, which has achieved product-market fit and is seeing
rising customer demand, is the product that is in the growth stage.
Price - Ryanair may continue to offer affordable prices in order to draw in new clients
and hold onto its market share in the expanding aviation sector.
Place - To reach a larger customer base at this point, Ryanair will concentrate on
extending its operations to new geographic regions or international markets.
Promotion – The business will need to continue its standard marketing and promotional
activities to capture market and to increase its customer bandwidth (Ryanair.com,
2023).

Maturity Stage
When a product approaches maturity and production and marketing expenses
begin to fall, it is when it generates the maximum profit (Kotler and Armstrong, 2016).
Product - The 737NG fleet, wlll act as the hero product for Ryanair's fleet. This will also
be the main product to focus on in the growth phase.
Price - To stay competitive and maintain its market share during the maturity stage,
Ryanair may adjust its pricing strategy.
Place - In this phase, Ryanair will focus on spreading its business to new regions and
customising the offering to further attune with the customer demands.
Promotion - To keep sustain customer loyalty and draw new customer in various
markets, Ryanair may focus on targeted marketing initiatives and brand loyalty
programmes (Jubal and Malhotra, 2022).

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Decline Stage
If rivals are able to imitate the product's success, it may start to lose ground in
the market. Though, market saturation and the availability of replacement items lead to
falling product sales through promotion of marketing mix, and a company can decide
against launching further advertising efforts since customers have already made up
their minds about whether or not to stick with the brand (Stark, 2022).
Product - Due to competition, market saturation, or the accessibility of newer
replacement products, the 737NG fleet may start to lose market share during the
decline stage.
Price - To manage declining sales and profitability during the decline stage, Ryanair
may change its pricing strategy.
Place - To lessen its reliance on the dwindling aviation market, Ryanair may diversify its
operations and enter new industries, such as opening hotels, resorts, or restaurants.
Promotion - To maintain profitability and growth during the decline stage, Ryanair may
scale back its 737NG fleet advertising efforts in favour of promoting its newly diversified
businesses (Jubal and Malhotra, 2022).

Recommendations
To ensure longevity of the product and maximize sales, the product Max-10
aircraft can employ the digital marketing management strategies like use of website to
specify and booking details. In this essence, the product can abstract most out of its
characteristics. In addition, the Ryanair can embrace SWOT and PESTLE analysis in
order to identify key issues and impacts that might impact the product.

Limitations of the Product Life Cycle

Following are two of the limitations that might be encountered in order to employ
product life cycle;

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Delays and Fluctuations in Sales Data
Delays, instability, and unavailability of sales data pose challenges to product
cycle analysis and forecasting. During the shift of commodities, logistical delays,
seasonal promotions, and returns due to manufacturing difficulties may all occur,
making precise projections difficult (Spreafico et al., 2022).

Market Conditions May Vary

It may be difficult to induce findings from prior product life cycles due to the fact
that regional market circumstances differ. Different regions have different consumption
trends, thus products that sell quickly in one place may languish in another (Spreafico et
al., 2022).

Conclusion
It can be concluded that the term marketing management is used to describe the
process of directing and coordinating the efforts of various individuals engaged in
marketing. In 2016, Ryanair was the market leader in Europe in terms of scheduled
flights, and the number of international passengers carried. Ryanair uses 737-700s
charter flights and 737-800s for regular service, and the company flies to 37 countries
around Europe. In addition to the typical suspects like phone cards and public transit
tickets, they have also dealt with hotels and automobile rentals.
The product life cycle consists of four stages: introduction, growth, maturity, and
decline. Ryanair chooses a product development marketing strategy at its first launch.
Offering discounts, bonuses for flying with family, and other advantages is part of
Ryanair's goal to increase its customer base. Ryanair established a new market for an
old product through innovations. Moreover, the company is considering expanding into
the hospitality market by building hotels, resorts, and eateries when it faces the decline
stage.

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References
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