MARKETING MANAGEMENT

Marketing Management: An Analysis of Virgin Airlines



Executive Summary

Virgin Airline is one of the global multinationals that is increasing its market and mind share rapidly. Virgin Atlantic is and airline company owned by Richard Branson. Virgin Airline is the subsidiary of Virgin Group that is very well known for its naughty image in all over the world. With the passage of time Virgin Airline has grasped a sustainable mind share and is considered the most luxurious airline in some regions of the world; such as United Kingdom, North America, Middle East and Asia etc. The purpose of this paper is to analyze and critically discuss the marketing plan of Virgin Airline. This paper aims to explore and critically discuss the marketing strategies adapted by Virgin Airline that enabled it to successfully achieve a sustainable position in the market. This paper will analyze each and every aspect of the marketing plan of Virgin Airline such as; their product differentiation strategy, low-cost leadership strategy, pricing strategy, positioning strategy, their segmentation and target market etc. This paper enlightens the methods selected by Virgin Airline and the value added services; which helped company to grasp the consumer delight of their target market in order to survive the cut through competition in United Kingdom's airline industry.

Marketing Management: An Analysis of Virgin Airlines

Marketing Plan: Virgin Airlines

Mission Statement

At Virgin Airline our mission statement is simple: to grow into a profitable airline; where people love to fly and where people love to work

Objectives

To grasp the major market Leadership

Low cost leadership

Innovation

Differentiation

Brand Value

Target Market

Orientation, when the firm selects one or more market segments, such as specific markets. Virgin Airline considers each client to be an important and offers various services to customers. The nine basic criteria for orientation:

Who buys our product?

Who does not buy our product?

What need or function does our product serve?

What problem does our product solve?

What are customers currently buying to satisfy the need or solve the problem for which our product is targeting?

What price are they paying for the product they are currently buying?

When is our product purchased?

Where is our product purchased?

Why is our product purchased?

In assessing these issues, the company should evaluate the possibility of its target markets, as the segment size and growth potential, competition, company objectives and opportunities to succeed in this market (Air Transport Group, 2009, 97). Virgin Airlines to high-end customers who are primarily business passengers travelling on routes. Virgin Airlines is carried out to obtain significant market share through effective marketing of its "quality, fun, innovative, honest and caring," the airline (www.safarigraphics.com).

Segmentation

Market segmentation is defined as the process of dividing the market into groups of similar customers and selects the most appropriate group(s) of the company to serve. This concept is achieved through the following six steps 1) of the current situation in individual companies, 2) identify the needs of consumers and their needs, 3) the division of markets and the right size, 4) developing product positioning, 5) decide on the strategy of segmentation, 6) the design of marketing ...