Developing a comparative map for charter services involves conducting thorough market research across the medevac, cargo charter, corporate charter, and executive charter segments. The aim is to collect and analyze data on future growth rates, annual revenue, and air traffic intensity. For instance, analyzing historical data can highlight trends and forecast growth, providing insight into the most attended routes and demand drivers.
In addition to market research, analyzing the competitive landscape is crucial. Mapping key competitors and examining their market positions, strengths, weaknesses, and strategies uncovers opportunities for growth. This analysis also involves understanding technological impacts and regulatory influences on the industry.
Based on these analyses, the strategy recommends tailored actions such as identifying growth opportunities and maximizing revenue. Recommendations include forming strategic partnerships to enhance market presence and utilizing technology to boost efficiency. These informed suggestions aim to align strategic vision with stakeholders and guide future decision-making.
The strategies
⛳️ Strategy 1: Conduct comprehensive market research
- Identify and define parameters for future growth rate, annual revenue, traffic intensity, most attended routes, and demand drivers
- Compile historical data on each of the four charter sectors
- Perform industry analysis to identify trends and project future growth rates
- Gather financial reports or industry benchmarks to assess annual revenue performance
- Analyse air traffic data to evaluate traffic intensity for each sector
- Research flight itineraries to ascertain most attended routes
- Use surveys and interviews to understand demand drivers from a customer perspective
- Engage with industry associations for additional insights and forecasts
- Leverage published reports and market studies for comparative analysis
- Summarise findings into a comprehensive market research report
⛳️ Strategy 2: Analyse competitive landscape and industry dynamics
- Map out key competitors within each charter sector
- Evaluate competitive strategies and market positioning of major players
- Analyse strengths, weaknesses, opportunities, and threats (SWOT) for each sector
- Assess competitive pricing models and service offerings
- Investigate technological advancements influencing each sector
- Understand regulatory and policy impacts on charter services
- Study customer preferences and switching behaviour across sectors
- Compare marketing and branding strategies of successful providers
- Identify potential new entrants or disruptive innovations
- Outline rivalry intensity and market saturation levels for comparative assessment
⛳️ Strategy 3: Develop strategic recommendations based on analysis
- Compare future growth potential of each sector and identify leading opportunities
- Develop recommendations for revenue maximisation based on sector analysis
- Identify key market segments and target demographics within each charter service
- Formulate strategies to enhance service offerings aligned with demand drivers
- Recommend strategic partnerships or alliances to boost market presence
- Propose market entry or expansion strategies for underserved routes
- Advocate for technology adoption to improve efficiency and customer experience
- Outline risk mitigation strategies and contingency plans
- Create a strategic roadmap with timelines and key performance indicators
- Prepare a presentation to communicate and align strategic vision with stakeholders
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
