BUSINESS OPPORTUNITIES

Audit And Marketing Plan

Audit And Marketing Plan

Marketing Plan for the introduction of Virgin jeans

Business Mission

Purpose

In order to understand why the Virgin Group exists, it is inalienable to especially focus on one person, the founder and the core of the company Richard Branson.

His personality alone already legitimates the purpose of the company, playing the role of the every positive thinking entrepreneur, that is strongly drawing together stakeholders and employees by showing them that they can commit themselves to the business not only because of financial benefits. Branson's and therefore Virgin's higher ideal just simply seems to be to have fun and find new challenges while doing business.

Strategy

Virgins core strategy seems to be to go into those markets were complacent industries have held high prices for years because of their monopolistic size. And they try to take an advantage of that complacentness. The markets itself can not be defined exactly as the Virgin Group never had a "core business thing'. Thus the business where Virgin wants to be in is also hard to define, but there is an opportunity for Virgin wherever the monopolistic position of a competitor can be beaten.

Another basic strategy of the Virgin group is always to use its undoubtedly strong brand name which is one of the view that is elastic enough to bind together a "clutch of diverse products without snapping'. It is part of Branson's strategy that the Brand name is not so much a product that it stands for, rather it stands for values: youth, "iconoclasm, cheeky and perky informality'. This provides the Virgin Group with a flexibility that is almost unbeatable in terms of brand name. The key is to make sure that the Virgin name stays fresh and not to overuse it, and certainly the product has to have a certain quality.

The third part of any Virgin strategy that has to be emphasised, is the strategy of "public figure marketing'. Like no other entrepreneur in the UK, Richard Branson has the talent to market his products by going into the media with extraordinary actions that get him into the front-pages of the newspapers without paying any money for this advertisement.

Company Values

The values seems to be having fun in the business and to do things differently. The goal of the Virgin Group is to be the ultimate outlet and to provide the best value for money to customers. They believe that there should be some kind of fun to go into the big monopolistic businesses and then shake them up by offering good value quality based products, and a better service and people care to the customers and last but not least to make a profit at the end of the day.

Overall the mission statement has clearly been defined by Richard Branson over the last 25 years. He has the Vision, the strategic intent, and he is the motivator for any person who is part of the company.

Marketing Audit

Detailed information about the first stage of the marketing planning process being the marketing audit can ...