Virgin Atlantic Marketing Management

Topics: Marketing, Marketing plan, British Airways Pages: 15 (4528 words) Published: April 25, 2011
Contents Page Number

1.0 Introduction3

2.1 Company Overview 3
2.2 Mission Statement 3
2.0 Evaluation 4
2.1 Segmentation 5/6
2.2 Targeting 6/7
2.3 Positioning 7
2.4 Building Relationships 8
3.0 The Marketing Mix 9
3.1 Product 10
3.2 Price 10
3.3 Place 10
3.4 Promotion 10
3.5 People 10
3.6 Process11
3.7 Physical Evidence 11
4.0 Conclusion 14
5.0 Defining the Segment & Marketing Objective 14

5.1 SMART Objectives 15
5.2 Pestle Analysis 16/17
5.3 Swot analysis 17/18
6.0 Recommendations to changes to the Marketing Mix 19
6.1 Product 19
6.2 Price 19
6.3 Place 19
6.4 Promotion 20
6.5 People 20
6.6 Process 20
6.7 Physical Evidence 20
7.0 Control mechanisms and Budget Recommendations 21
8.0 References 22/23

1.0 Introduction
The author has been assigned to create a report on Virgin Atlantic that should evaluate current practice of Virgin Atlantic and make recommendations that could help the company grow. This report will also include a Marketing Plan for Virgin Atlantic. In this report there will be an evaluation of their marketing practices including the marketing mix, with reference to theories and the current practices of Virgin Atlantic. 1.1 Company overview

‘Since it was founded almost twenty years ago, Virgin Atlantic Airways has become Britain’s second largest airline serving the world’s major cities. Virgin Atlantic is the quintessential Virgin story. It has every ingredient: the small newcomer taking on the giant and complacent establishment, the people’s champion introducing better service and lower costs for passengers with a reputation for quality and innovative product development.’

Virgin Atlantic Press Kit (2011)

1.2 Mission Statement

Virgin Atlantics mission statement is very short and very simple.

“To grow a profitable airline, where people love to fly and where people love to work.”
Virgin Atlantic (2011)

2.0 Evaluation
Segmentation, targeting and positioning

(Source: Baines, P et al, 2008, pp. 217)
The Segmentation Targeting and positioning process (STP) is important for Virgin Atlantic as it will enhance its competitive position as it provides direction and focus for the build up of the marketing strategy. Segmentation – ‘A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function’ Baines, P et al pp.246(2008)

Targeting - ‘The second important part of the STP process is to determine which, if any, of the segments uncovered should be targeted and made the focus of the comprehensive marketing programme. ’ Baines, P et al pp.246(2008)’

Positioning – ‘Having segmented the market, determined the size and potential of market segments, and selected specific target markets, the third part of the STP process is to position a brand within the market(s’) Baines, P et al pp.251(2008)’

The STP process
Identify Virgin Atlantics needs and segment the market and develop profiles of resulting segments

Market segmentation
| Identify market positioning and how Virgin Atlantic can acquire a differential advantage

Market Positioning
Target Marketing
Identify Virgin Atlantics needs and segment the market and develop profiles of resulting segments

| Marketing Planning
Develop a strategy/marketing plan for...
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