In the following of this essay, the importance of branding and brand loyalty would be discussed in theory firstly, and further analysis would be made on them separately, supporting by examples of Virgin Atlantic airway. Finally, a conclusion will be given out.
In general, there are numerous definitions of marketing as it has various features to involve, and the one below has concluded main factors of it: “Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas.” (Dibb et al 2001, p1) According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
Product is the core of marketing, which including tangible goods like food or drinks or intangible services, as it is the major way to embody customers requirements; and, branding is directly associated with it. In fact, branding is all about decisio ns of products, like brand names or trademarks. Stork (2007) asserted that a brand is a unique business identity which represents the personality, quality or origin of products. And, such a product which added value by branding would appear in every activity of marketing, namely, branding is actually react on the whole marketing system directly and indirectly. In addition, Stork (2007) also argued that branding is the process of creating distinctive and durable perceptions in the minds of consumers. This is significant, as it accords with the objective of marketing, and it is the first step to attract customers. By contrast with those basic branding factors, brand loyalty is more complicated but significant. Attracting customers is not enough, organizations demand loyalty of customers to brands to make them competitive among others.
Therefore, based on the analysis of theories above, branding and brand loyalty is vital to successful marketing, but there are still many other factors could affect their importance within the dynamic environment, like the different industry will have different types of marketing and branding. Subsequently, the further and deeper investigation will be conducted with examples of Virgin Atlantic Airway, which is a super brand in airline industry. Virtually, Design Council of UK (2007) defined that the airline industry is difficult to operate. Fixed costs are high, demand can fluctuate quite dramatically and shortages of key airport infrastructure all make it difficult for airlines to operate profitably. Relatively, the marketing for airline industry is not easy as well; the promotion or pricing would be totally different to other industries like food or drink, because its products are...