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翻译
Competitiveeffectsoftheairlines-within-airlinesstrategy–Pricingandrouteentrypatterns
abstract
Thispaperinvestigatestheeffectsoftheairlines-within-airlinesstrategyadoptedbyQan-tasairlinegroup,whichsimultaneouslyrunsafull-serviceairline(QantasAirways)andalow-costcarrier(JetstarAirways).OurempiricalinvestigationofairlinepricingandrouteentrypatternsintheAustraliandomesticmarketsuggeststhatJetstarhasbeenusedasafightingbrandagainstrivallowcostcarriers.Suchastrategyincreasesgroupairlines’pricesattheexpensesofrivalairlines.ThereispreliminaryevidencethatpricingbenefitstoQantasGroupcomefromincreasedmarketpoweraswellasservicequalityimprovements.?
2013ElsevierLtd.Allrightsreserved.
1.Introduction
FirstadoptedbySouthwestAirlinesintheUSinthe1970s,thelow-costcarrier(LCC)businessmodelhasbeenemployedbyairlinesinmanymarketsasacompetitivealternativetothetraditionalfull-serviceairline(FSA,alsoreferredtoas‘‘legacycar-riers’’or‘‘networkcarriers’’)businessmodel.Ingeneral,LCCsprovidelow-fareairtravelservicesthateliminatevarious‘‘frills’’suchasfreemealsandin-flightentertainmentofferedbyFSAs.OthermainfeaturesoftheLCCbusinessmodelinclude:
single,unrestricted,andpoint-to-pointfares;directandticket-lesssales(supplementedbytravelagents);noseatassignments;highflightfrequency;singleaircrafttypesandhighaircraftutilization;useofsecondaryorun-congestedairportswith20–30minaircraftturnaroundtime;andcompetitiveemployeewageswithprofit-sharingarrangements(GillenandMorrison,2002;GillenandLall,2003;Mason,2000,2001;MasonandMorrison,2009;WindleandDresner,1995,1999).TheseoperationalcharacteristicshaveenabledLCCstoachievesubstantiallylowerunitcoststhanFSAs,whichhasturnedLCCsintoleadingplay-ersinmanyliberalized/developedmarkets,suchasSouthwestandJetBlueintheUS,andRyanairandEasyJetinEurope.Inre-centyears,thelow-costbusinessmodelhasbeenemulatedthroughouttheAsia-Pacificregion,withstart-upLCCsbeingestablishedinmanyAsiancountries(seeAppendixAforalistofLCCs).AlthoughtheoverallindustrydevelopmentinAsiastilllagsbehindthoseinNorthAmericaandEurope(Zhangetal.,2008),theAsia-Pacificaviationmarketofferslucrativeopportu-nitiesforLCCswithfavorablegrowthfactorssuchasgrowinggroupsofmidle-incometravelers,increasingurbanization,ongoingaviationliberalizationandderegulation,andgeographicattributesthatarefavorableforairtransportation.AfewLCCshaveachievedsubstantialgrowthinthelastcoupleofyears(CAPA,2002;Homsombatetal.,2011).Morrell(2005)statedthatFSAsmayrespondtoLCCcompetitioninthefollowingways:
(1)toreducethesignificantcostsoftheirmainlineoperationswithoutchangingtheirbusinessmodelorreducingservicelevels,and/or
(2)toestablish1366-5545/$-seefrontmatter?
2013
ElsevierLtd.Allrightsreserved.⇑Correspondingauthor.ContentslistsavailableatScienceDirectTransportationResearchPartEjournalhomepage:
no-frillsdivisionsor‘‘airlines-within-airlines’’(AinA)thatapplyallorsomeoftheelementsofthelow-costbusi-nessmodel.GrahamandVowles(2006)arguedthatsettingupalow-costsubsidiary(hereafterLCS)mightprovidethefol-lowingadvantages:
theairlinemightbeabletoforcedowncosts,particularlylaborinputs,whencompetingwithLCCs;theLCSservice,whichismoreappropriateforleisuretravelorhub-bypassroutes,mightfunctionasasophisticatedformofmar-ketsegmentationwithinanetworkexpansion;theLCScouldbeusedtopreemptthemarketentryofotherLCCs;andtheLCScouldserveasadirectresponsetootherLCCsalreadyoperatinginthemarkets.Indeed,FSAshavebeenpursuingbothoftheabovementionedstrategiesassuggestedbyMorrell(2005).Theyhavealsogainedsignificantproductivityimprovementovertheyears(Oumetal.,2005;Homsombatetal.,2010;Wangetal.,forth-coming),whichallowedthemtomaintainthemajoritymarketsharesinmostmarkets,especiallytrans-continentallong-dis-tanceroutes.Still,manylegacyairlineshavebeenforcedtoreduceasignificantamountoftheiroperatingcoststocompeteatthelowendofthefarespectrum(ItoandLee,2003;GoolsbeeandSyverson,2008).Assuch,severalFSAshaveestablishedtheirownlow-costsubsidiaries/offshootstoparticularlycompeteinlow-costsegment.Pilling(2004)suggestedthatFSAshavethefollowingoptionswhencreatinganLCS:
(a)toestablishaseparatedbrand;(b)tomaintainsomelinksandcoor-dinationbetweentheLCSandFSAbrands;and(c)toextendthemainlinebrandtoencompassthelow-costsegment.Thefirsttwooptionshavebeenwidelyadoptedinpractice.TheinitialattemptsofAinAstrategywereformedintheNorthAmericanandEuropeanmarkets.However,theseattemptshavebeenlargelyunsuccessfulandmanyLCSoperationshavebeenshutdownsoonafterintroduction.Interestingly,anum-berofLCSstart-upshavebeencreatedintheAsia-Pacificregioninrecentyearsandsomehaveachievedstrongtrafficgrowthandgoodfinancialreturns.WiththeexceptionofJetstarandTigerAirways,mostoftheLCSairlinesinAsiahaveonlybeeninthemarketforalimitedperiodoftime.Assuch,thesuccessfulcaseofQantasGroup(i.e.,QantasAirwaysandJetstarAir-
2.TheAinAstrategyandLCCdevelopmentinAustralia
wasadoptedasacasestudyinthispaper.OurempiricalinvestigationofairlinepricingandrouteentrypatternsinheAustraliandomesticmarketrevealsthatJetstarhasbeenusedasafightingbrand.Suchastrategyincreasesgroupair-lines’pricesattheexpensesofrivallow-costcarriers.ThereispreliminaryevidencethatpricingbenefitstoQantasGroupcomefromincreasedmarketpoweraswellasservicequalityimprovements.Ourstudynotonlyprovidesimportantinsightstotheaviationindustry,butalsocontributestotheeconomicsliteratureofproductlinechoiceandmultiproductcompetition.Manystudieshaveanalyticallyinvestigatedfirms’optimalstrategy.GilbertandMatutes(1993)investigatedfirms’productchoices(i.e.basicvs.premiumgoods)andcompetition.Theyfoundthatfirmschoosetoproducetwoproductsifbrand-specificdifferentiationislarge.Otherwise,theywouldspecializeinoneproduct.Inaddition,thisstudyfoundthatbrandproliferationstrategycouldbeusedasacrediblestrategytodetermarketentrywhenfixedcostishighenough.ThefindingsweresupportedbyKlempererandPadilla(1997)whoshowedthatafirmthatoffersanadditionalproductlinecanwinbusinessfromrivalfirmsforotherproductswhenconsumersprefertocon-centratetheirpurchaseswithasinglesupplier.JohnsonandMyatt(2003)examinedfirm’sdecisionwhethertointroducefightingbrandsorpruneitsproductlinewhenacompetitorentersmarketwithlower-qualityproduct.Thefindingssuggestthatsuchoptionsdependontheshapeofthemarginalrevenue.Iftheincumbenthasincreasingmarginalrevenuecurve,thenitisoptimaltorespondtothenewentrantbyintroducingalower-qualityproduct(fightingbrands).Otherwise,2.1.TheAinAstrategy
incumbentwouldchoosetorestrictitsoutput(productlinepruning)tofocusonhighqualityproductandavoidadverseef-fectfromofferinglow-qualityproduct.OtherstudieslookedintothemultiproductfirmcompetitionincludeChampsaurandRochet(1989),Klemperer(1992),Stole(1995),Verboven(1999),DoraszelskiandDraganska(2006),andJohnsonandMyatt(2006).Overall,thesestudiessuggestthatthedecisiononfightingbrandcanbeinfluencedbyvariousfactorsrelatedtofirmcost,consumerpreferenceandmarketcompetition.Dualbrandstrategyhasalsoreceivedmuchattentioninthemanagementliterature.Porter(1980,1996)arguedthatitischallengingtomanagetwodifferentbusinessmodelsinthesamemarketasthetwomodels(andtheirunderlyingvaluechains)couldconflictwithoneanother.Somemanagementstrategistsadvocatedthattosolvesuchaproblem,thetwobusi-nessmodelsshouldbephysicallyseparatedintwodistinctorganizations(BurgelmanandSayles,1986;Christensen,1997;GilbertandBower,2002).However,thisapproachfailstoexploitsynergiesbetweenthetwobusinessmodels(MarkidesandCharitou,2004).MarkidesandCharitou(2004)proposedfourpossiblestrategiesthatcompaniescanusetoachieveabalancebasedonfollowingtwodimensions:
(1)howserioustheconflictsbetweenthetwobusinessesare;and
(2)howstrategicallysimilarthenewmarketistotheexistingbusiness.Insummary,whilerichresultshavebeenobtainedintheeconomicsandmanagementliteratures,whetherdual-brandstrategyshallbeusedisfoundtobeconditionalonnumerousfactors.Therefore,businessandeconomicdecisionshavetobebasedoninvestigationsonaparticularindustry.However,fewstudieshaveaddressedtheissueofdual-brand/mul-ti-productintheaviationindustry.Lin(2012)developedatheoreticalframeworktoinvestigatehubcarriers’airlines-with-in-airlinesstrategy.Productdifferentiationintheanalyticalmodelismainlyderivedfromnetworkconfiguration(i.e.directorconnectionflights)insteadofservicequality.SimilarapproachhasbeenusedbyDunn(2008),whofoundthatairlinesarelesslikelytostartnonstopservicetothemarketswheretheyhaveone-stopservicethroughahub.Thesestudiesoffervalu-ableinsightsonairlinenetworkrivalry,butnotstrictlyinthesenseofdual-brandstrategyasstudiedintheeconomicandmanagementliteraturesreviewedabove.Whereasourstudyalsoinvestigatesairlines’routeentrydecisions,wefocusedondirectOrigin–Destination(OD)citypairmarkets.Therefore,theeffectsof‘inherent’product/branddiffer
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