Marketing Principles of Virgin Atlantic Assignment

Marketing Principles of Virgin Atlantic - Assignment Example And this overrides the definition of marketing, which as mentioned earlier is delivering what the customer needs. . Various ELEMENTS of Virgin’s marketing planning process: The Company’s marketing process can be investigated using the SOSTAC model: Situation Analysis: Virgin Atlantic is currently one of the most popular airlines in the UK, with a fleet of 42 aircrafts, and 34 registered destinations. It made a reported loss of 80.2 Million pounds, and has stopped flying to a number of destinations since the last two years. Objectives: The objective of the Company is to increase the passenger number, fly to profitable destinations and be the number one choice for passengers. Strategy: The Company plans on achieving it’s objectives by engaging in more effective marketing, cutting unnecessary costs and providing better and more unique services. It is important to conduct a market research in order to identify what passengers of today expect in an airline, whether they are concerned with service or price. The requirements of passengers has changed from the last couple of years, where the main concern for individual and business travellers was price alone. Things have changed since then and it is important to realign the company’s strategy according to customer’s needs. Tactics: The Company will seek to sponsor more international events and support more causes so as to spread the brand name and make it more attractive to prospective passengers. Virgin Atlantic will also focus more on business travellers and provide differentiated services for them through enhancing their departure lounges, providing internet access during the flight, offer round the clock service in long flights and making their seats more comfortable. Another market... Center of discussion in this paper is Virgin Atlantic, one of UK’s most popular airlines, partially owned by Richard Branson (51%) and Singapore Airlines (49%) as a classic example of exemplary marketing strategies. The primary goal of the airline was to provide travelers with low cost travel opportunities with the highest quality. Subsequently their operations expanded to Miami, Boston, Orlando, Tokyo and Los Angeles. The Company’s uses all sorts of marketing techniques to promote its products which are mainly airline tickets and holiday packages. It uses print media, TV advertisements, posters and taxi sides to promote its logo and offers. The Company also offers a frequent flyer program that encourages loyalty in its existing customers, where customers are rewarded with free miles and â€Å"special services† such as access to lounges, dedicated phone and the like. The paper investigates the Company’s marketing process using the SOSTAC model. On an inter national level, Virgin Atlantic primarily focuses on building its brand and exemplifying its status as a â€Å"luxurious† and â€Å"trendy† company. It is impossible to cater a marketing strategy to the whole world, hence a tactful strategy would be to portray a general picture that has no cultural significance, and one that is based on a universal belief or feeling. International marketing requires a large amount of financial resources, before entering into a country’s market, companies have to know the laws and regulations of that country