Case Study - Aid premium airline with declining booking in the business category.

In this question, the interviewer wants you to evaluate a case study involving a premium airline company that is experiencing a decline in business class bookings. Specifically, the interviewer needs to know how you would approach this issue to find the root causes and possible solutions to mitigate the decreasing numbers. To answer this question effectively, you need to incorporate the following aspects into your response:

1. Analysis: Elaborate on the approach you would take to conduct an analysis to identify why the company's business class bookings are on the decline. What factors would you consider?
2. Solution: After discussing the problems, suggest a variety of solutions that could be used to increase bookings for the airline company.
3. Execution: Discuss how you plan to implement these strategies. This should include timelines, resources required, and tactics for overcoming potential obstacles.

For a premium airline witnessing declining bookings, I would begin with an analysis of why this is happening. I would consider external and internal factors. External factors might include changes in the market dynamics, like new competitive airlines or economic downturns. Internal factors might include changes in ticket pricing, service quality, or flying routes. I would collate data relating to these factors and identify key trends.

After identifying the problems, I could consider various solutions. If competition is the main issue, I would suggest a comprehensive marketing strategy, customer loyalty programs, and targeted efforts towards 'high-value' frequent business flyers. If service quality is an issue, the airline could consider enhancing the in-flight services and amenities for the business class.

The execution of these strategies would be planned in a step-by-step manner. For example, if rolling out a new marketing strategy, we could start with identifying the target audience, devising the marketing campaign, allocating resources, and setting a timeline. After the campaign launch, we would track the progress regularly and adjust the strategy based on the results.

Firstly, a root cause analysis will be crucial to understand why the premium airline is experiencing declining bookings in their business category. Initially, I will conduct a SWOT analysis to understand the threats the company is facing and the opportunities they could capitalize on. This could range from operational inefficiencies, declining service quality, rise of competitive airlines to changes in market dynamics.

Once we've identified the core issues, potential steps for a turnaround could be proposed. For example, if the root cause is found to be related to pricing, the airline could consider introducing dynamic pricing and early bird discounts. If competition is a factor, partnerships and collaborations with related businesses, such as hotels and travel agencies, could be considered.

When it comes to execution, it's important to follow a structured plan. For instance, if we're implementing a pricing strategy, it'll start with market research, followed by a competitive analysis, working on a pricing model, and then rollout. Post-implementation, it would be important to track key performance indicators (KPIs) and adjust strategies as required.