1. How should Cathay develop and market its global im-age without diminishing its local/regional identity as the Hongkong (and China) carrier?
2. Should cathay focus on China by attempting to develop it further or instead focus on the overall global market?
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1. Developing and marketing a global image while maintaining a strong local or regional identity can be a complex task, but Cathay can do so by following these steps:
a. Understand the target audience: Cathay needs to have a clear understanding of who its primary audience is. This includes understanding the preferences, needs, and expectations of both the global market and the local/regional market.
b. Highlight unique attributes: Cathay should identify and emphasize the unique qualities that make it distinct as a Hong Kong and China carrier. This could include showcasing the rich culture, traditions, and hospitality of the region.
c. Tailor marketing messages: Cathay can develop marketing campaigns that cater to the global market while also incorporating elements that resonate with the local or regional audience. This could involve using specific language, imagery, or references that are relatable and meaningful in both contexts.
d. Build strong partnerships: Collaborating with local entities, such as tourism boards, cultural organizations, or popular brands, can help Cathay strengthen its local/regional identity while expanding its global reach. Such partnerships can promote joint initiatives that showcase the carrier's connection to the local community.
e. Consistent branding: Cathay should ensure that its branding elements, such as logo, colors, and messaging, align with its global objectives while still reflecting its local/regional roots. This consistency will help maintain a strong identity across markets.
2. Finding the right balance between focusing on China and the overall global market largely depends on Cathay's long-term goals and market analysis. Here's how Cathay can approach this:
a. Analyze market potential: Cathay should conduct a comprehensive analysis of the China market and the global market to understand the growth potential and competition in each. This analysis should consider factors such as passenger demand, market saturation, emerging trends, and regulatory environments.
b. Assess competitive advantage: Cathay can evaluate its strengths and weaknesses in both the China market and the global market. This includes considering its current market share, brand recognition, customer loyalty, and operational capabilities.
c. Set strategic objectives: Based on the analysis, Cathay should set clear strategic objectives that align with its long-term goals. These objectives can include factors such as market expansion, profitability, customer satisfaction, and brand positioning.
d. Allocate resources accordingly: Cathay needs to allocate its resources effectively to achieve its strategic objectives. This may involve investing in fleet expansion, route development, marketing campaigns, or partnerships. Considerations should be made for both China-specific initiatives and initiatives that target the overall global market, based on the weighted potential and competitive advantages identified earlier.
e. Monitor and adapt: Cathay should regularly monitor market dynamics and adapt its strategy accordingly. This requires staying informed about changes in consumer behavior, industry trends, regulatory updates, and competition. By continuously evaluating the performance of various market segments, Cathay can fine-tune its approach and make necessary adjustments.