Virgin is a leading branded venture capital organisation and is one of the world's most recognised and respected brands. This report will discuss the Virgin Holidays marketing strategies.Virgin Holidays and is now the Largest, most successful transatlantic Tour Operator. It will describe how Virgin holidays use the marketing mix; product, price, place and promotion to market their company to gain customers. This report will then go on to discuss how virgin holidays marketing strategies have helped the company develop and what other marketing strategies Virgin Holidays could implement to develop the company further.
Virgin is a leading branded venture capital organisation and is one of the world's most recognised and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow very successful businesses in sectors ranging from mobile telephony to transportation, travel, financial services, media, music and fitness. (Virgin, 2012) Virgin Holidays
Virgin Holidays is the Largest, most successful transatlantic Tour Operator. Created in 1985, Virgin Holidays is an award-winning travel company offering bespoke travel experiences right across the globe. There passionate about creating perfect holidays, and giving reliably outstanding service. (Virgin, 2012) Virgin encourage and promote the motto "Ask for the World" because they are passionate about creating the best holidays in the world and going that extra mile to make sure you get exactly what you want, the way you want it. (Virgin, 2012) Virgin Holidays is very successful with award winning marketing strategies. At the Travel Marketing Awards, Virgin Holidays scooped five trophies - including Campaign of the Year for its 'Rockstar Service' activity. The ceremony, organised by the Chartered Institute of Marketing's Travel Industry Group (CIMTIG) was held at the Intercontinental Park Lane to recognise marketing excellence in travel and was attended by senior professionals from across the industry. The judging panel - which consisted of highly respected individuals from across the travel marketing spectrum - recognised Virgin Holidays with the following awards: * Integrated Campaign of the Year (over £1,000,000 media spend) – * Rockstar Service (Gold Standard)
* Budget TV Advertisement/Campaign (up to £100,000 production budget) - Burlesque * Best Use of Direct Marketing (Mail) - Rockstar Service * Best TV Advertisement/Campaign - Rockstar Service (Commendation) * Best Strategic PR Campaign (Overseas) - Florida Baby for Travel City Direct (Virgin, 2012)
A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. (Shone, 2001). A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place, promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace. (Kotler, 2000) Once these distinct customers have been defined, a marketing mix strategy of product, place, promotion and price can be built by the business to satisfy the target market. Virgin Holidays is aimed at business and leisure customers looking for long haul flights, which can consist of holiday makers from young couples to families.
Marketing Mix is a combination of marketing tools that a company uses to satisfy their target customers and achieving organizational goals. (McCarthy, 1960) classified all these marketing tools under four categories: * Product
These four elements are the basic components of a marketing plan and are collectively called 4 P’s of marketing. 4 P’s pertain more to physical products than services. Below is an illustration for marketing mix. (Gogra, 2008)
Product is the...