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Essay / Research Paper Abstract
An 11 page paper discussing the marketing base of NetJets, a fractional ownership airline company. NetJets uses a time-share concept to sell interest in corporate-sized jets, enabling the purchase of as little as one-eighth ownership rather than bearing the total cost of purchase, maintenance and operation. It is the leading competitor in its industry, and was purchased by Warren Buffet in 1995. The paper examines NetJets and the 4 Ps with concentration on price, and compares NetJets to the early days of Southwest Airlines. It concludes with the recommendation that NetJets offer capital budgeting analysis to potential customers as a marketing tool. Bibliography lists 7 sources.
Page Count:
11 pages (~225 words per page)
File: CC6_KSnetJets.rtf
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Unformatted sample text from the term paper:
well-managed companies. Warren Buffet bought NetJets. Therefore... NetJets is still profitable, still well-managed and now well on its way to adversely
affecting the big, established airlines. Time-share ownership has been common in resort real estate for decades and currently constitutes the greatest area of growth in resort ownership sales; the
same trend is operational in private corporate jets. Busy executive teams and individuals no longer must own a private jet in order to gain the benefits such ownership brings.
NetJets Marketing Concept Begun as Executive Jet in 1986, the segment of the airline industry that offers "time share" ownership of private aircraft
does not refer to their business using that term. Rather, the proper reference is "fractional ownership." It means the same thing of course, but avoiding the label of
time share avoids the possibility that customers could make any connection with questionable practices and techniques common in its real estate counterpart. A
typical Lear Jet is capable of approximately 800 hours flying time annually. Fractional ownership allows an organization to purchase a percentage of those hours with additional charges for maintenance
and active use of the aircraft. One of the benefits is that if an organization can benefit only from a portion of those hours, then it needs only to
purchase rights to the number of hours it needs in a year. David Almy, vice president of strategic programs for the National Business Aviation Association, says, "It allows you
to buy the benefits without the capital cost ... You can buy [a] one-eighth ... share of an $8 million airplane, and its only $1 million versus $8 million" (Goldman,
...