MC5080QA Marketing Communications Assignment Sample

Introduction Of Marketing Communications

Main Body

(i) Analysing the current strategic structure of the Tune group along with its growth from 2001 to recent times

Since the beginning of 2001, the tune group, led by Tony Fernandes and Kamarudin Meranun, has experienced significant growth and changes. The firm intentionally grew into a number of industries, including hotels, telecommunications, financial services and electronic businesses after it was recognized as AirAsia, a low-cost airline that disrupted the market for flying. The Tune Group was capable of taking advantage of interactions and capturing new market possibilities since its growing and expanding operations were properly handled. The Tune Group's strategic growth was built on AirAsia (Kim, Kang and Lee, 2021.). By offering inexpensive or affordable air travel, AirAsia received wide customers and disrupted the long-established airline sector. Based on this achievement, the company found unused areas and grew its business. Tourism was one of the most significant sectors entered, leading to the creation of Tune Hotels. The company adopted a no-frills housing method at reasonable rates, appealing to travellers on a budget through utilizing the AirAsia branding and customer base. Tune Hotels was able to gain significant market share because of this advantageous partnership, especially in Southeast Asia.

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The Tune Group became part of the telecoms industry with Tune Talk after realizing the huge need for wireless communications in developing areas. Tune Talk offered cheap prepaid cell phone plans aimed towards neglected consumer categories by utilizing AirAsia's huge network and customs. Tune Group was successful in quickly developing its footprint and fighting with established businesses in the industry because of this tactical choice. The firm extended its diversification into the field of financial services (Lai and Yu, 2021.). Disposable cards, money transfers and insurance for trips are just a few of the services that Tune Money offers as a platform for online banking. The Tune Group was able to take advantage of the rising need for electronic financial products by entering the financial services sector and offering additional benefits to its clientele. The Tune Group has increased its standing in the world of online shopping recently. Concerned group sought to foster and promote businesses through the creation of Tune Labs, an online accelerator program. This act shows the group's awareness of the technology's ability to evolve in order to keep up its leadership in innovation. The Tune Group's strategic growth and diversification have been successfully handled, allowing the company to take advantage of collaborations among its numerous business areas (Soedarsono, et.al, 2020). The Tune Group has established an established brand identity and competitive advantage across a number of sectors by coordinating its services and utilizing current connections. A strong vision to take advantage of market possibilities or offer additional products and services to its current customers drove the business to expand into other industries.

However, it is essential to recognize that running a diverse company has its challenges. Maintaining a consistent strategic direction among numerous company divisions is one of these major dangers. Good cooperation and interaction are necessary to maximize possibilities for cross-selling while ensuring that every division is in line with the overarching corporate plan. The Tune Group may additionally encounter more intense competition and difficult regulations as it expands into new markets and sectors. This calls for continuous market dynamics analysis and a readiness to adjust to shifting customer preferences & business patterns. Since the Tune Group's founded in 2001, its organizational structure has gone through a major change (Mkhize and Ellis, 2020.). The company has capitalized on synergies and seized new opportunities in the market by carefully growing its activities into industries including hotels, communication, financial services and digital enterprises. The Tune Group has become a significant participant in a number of industries thanks to the well-organized leadership of its expansion and diversification. In order to keep growing and maintaining its competitive edge in a market that is always changing, the company's capacity to keep to a consistent approach to strategy, react to market dynamics and encourage innovation will be vital.

(ii) Analysing and critiquing the role of strategic leadership during this period of growth and diversification

The role of strategic leaders plays the main role while the period of growth and diversification. Strategic leadership, personified by Tony Fernandes and Kamarudin Meranun, during the time frame of expansion and growth of the track organization, the function of tactical leadership was essential. Being strategic managers, both Tony Fernandes and Kamarudin Meranun had a significant role in determining the company's long-term strategy, exploring options and directing the implementation of strategic duties. Among the main responsibilities of strategic planning is to offer a healthy organizationunambiguous goals and direction (Pepels, 2021). Fernandes and Meranun demonstrated their forward-thinking leadership. Identifyingthe market need for affordable air travel,led to the current state of Airasia. The strategic managers gave the organization a feeling of direction as well as meaning by establishing a clear vision of providing cost-effective services to markets that are not traditionally served.

To identify and evaluate capabilities andprospects for diversification, strategic decision-makers were crucial. They investigated the viability of increasing into new markets, studied market trends and evaluated the risks and benefits. This required anin-depth understanding of the competitive environment, lawmaking context and client preferences. Strategic decision-makers were successfully able to make well-informed decisions about which industry sectors to enter and how to roll around the organization for success by conducting in-depth competitive studies and assessments (Nethala, Pathan and Sekhar, 2022). The executive team also becomes accountable for the successful implementation of the strategic choices made. They provided certain that the company's expansion into emerging sectors were carefully handled, taking economic factors, competitive environments and regulatory issues intoconsideration. This involved managing resources, establishing strategic alliances and putting effective operating events into place. The AirAsia groupwas able to develop an impressive presence in every market it entered as a result of effective implementation, exploiting its goodwill and consumer base to acquire a competitive advantage over rivals.

After carefully examining the role of planning administration, the studymay admire Tony Fernandes and Kamarudin Meranun for having a spirit of entrepreneurship, being capable of undertaking risks and having the skills to think creatively. The band was able to knock down established business models and bring novel ideas because of their fearless and imaginative leadership. Their efforts were able to discover undiscovered market prospects and take advantage of these opportunities for the group's growth by inspiring the standard norm and adopting regular techniques. However, it's crucial to recognize the challenging circumstances that are related to managing strategically during times of expansion and diversification. Maintaining a consistent strategy roadmap across specialized workplace platforms is one of the major issues. Effective collaboration and interaction have become crucial as a result of the AirAsia Group'sexpansion into several different sectors. While maximizing go-selling possibilities and collaborations, operational executives should ensure that every department is in line with the organization's regular tactical objectives. Effective managerial abilities, efficient communication channels and a collaborative culture is required for this.

The transformation of market trends and new progressions is yet another undertaking. Strategic managers must be continually aware of marketplace developments as well as of the capacity to predict future characteristics. Managers must be aggressive in seeking out new opportunities for expansion, adopting novel technologies and encouraging entrepreneurship within the organization. Strategic decision-makers can prepare the group for sustainable success in an ever-shifting business climate by remaining one step beyond competitors and regularly modifying the company's plans. The significance of executive management ultimately played a crucial role in advancing the expansion and diversity of the AirAsia Group Fernandes and Meranun's imaginative management helped the organization navigate an advanced path, identify possibilities for growth and effectively carry out strategic decisions. The AirAsia Group was able to establish a strong market position in a few industries because of its ability to respond actively, challenge recognised norms and adjust to market realities. The company's development and diversification activities must continue to be successful despite obstacles including retaining cooperation across business devices and adjusting to changing market conditions. To ensure the future development and competitive edge of the Air Asia group, strategy managers need to keep giving navigation, encouraging innovation and adjusting for marketplace shifts.

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Figure 1 Strategic Leadership

(Source: strategic leadership, 2023)

Recommendation

Recommendation countries/markets the Tune group should enter next

• The Tune group should focus on entering the developing markets such as India, China and Brazil with high growth potential. These kinds of markets offer a large population and growing middle class with increased purchasing power. In the concerned countries, customers give priority to the airlines which offer services at highly lower or affordable prices. In this way, by catering the need of target market organization would become able to generate high sales and profitability as well.
• The Tune Group should expand into digital services considering the growing dependence on digital technologies. This could include expanding their online financial services, investigating e-commerce platforms, or making investments in tech-driven services such as food delivery or ride-hailing.
• To stay ahead of the rivalry, firm is advised to employ strategic management approaches which acknowledge the changing behaviour of consumers and support digital transformation. These should be included in the Tune Group's strategic plan as awareness of the environment spreads around the world. This could involve making investments in sustainable events, implementing energy from renewable sources and providing eco-friendly alternatives for all of its products and services. The Tune Group may carry in eco-aware consumers and set itself apart from competitors by cooperating with the rising demand for sustainable services.

References

Books and Journals

• Akhmadi, H., Susanawati, S., Putri Utami, N. and Slamet Widodo, A., 2021. Use of WhatsApp Application on Fruit Marketing Communication: A Traders' Experience.Journal of Information and Organizational Sciences. 45(1). pp.95-113.
• Kim, J., Kang, S. and Lee, K. H., 2021. Evolution of digital marketing communication: Bibliometric analysis and network visualization from key articles.Journal of Business Research.130. pp.552-563
• Lai, Z. and Yu, L., 2021. Research on digital marketing communication talent cultivation in the era of artificial intelligence. InJournal of Physics: Conference Series(Vol. 1757, No. 1, p. 012040). IOP Publishing.
• Mkhize, S. and Ellis, D., 2020. Creativity in marketing communication to overcome barriers to organic produce purchases: The case of a developing nation.Journal of Cleaner Production.242. p.118415.
• Munsch, A., 2021. Millennial and generation Z digital marketing communication and advertising effectiveness: A qualitative exploration.Journal of Global Scholars of Marketing Science.31(1). pp.10-29
• Nethala, V. J., Pathan, M. F. I. and Sekhar, M. S. C., 2022. A Study on Cooperative Banks in India with Special Reference to Marketing Strategies.Journal of Contemporary Issues in Business and Government Vol.28(04).
• Pepels, W., 2021.Marketing Communications(pp. 1-326). DUNCKER UND HUMBLOT
• Soedarsono, D. K., Mohamad, B., Adamu, A. A. and Pradita, K.A., 2020. Managing Digital Marketing Communication of Coffee Shop Using Instagram.International Journal of Interactive Mobile Technologies. 14(5).

Online

• Leigh, 2017. Tune Protect Group Berhad - Insurance Made Easy. (Online. Available through: https://dividendmagic.com.my/tag/tune-protect-group>. Accessed on 21/06/2023.
• Strategic leadership, 2023. Online. Available through: < https://businessjargons.com/strategic-leadership.html >. Accessed on 21/06/2023.