Marketing Mix- Virgin Atlantic
Virgin Atlantic’s Marketing Approach
Introduction
Britain’s the second largest carrier service. Its huge popularity has ensured its success worldwide. This success is also due to a strategic plan implemented buy Virgin Atlantic. This presentation will attempt to point out some of these key strategies
Isolating Its Target Market
The airline decided early on that its target market would be business men and leisure travelers. By catering solely to this target, virgin created a niche market for itself giving it a slight advantage over its competitors, who at the time, dealt with all types of customers. This is market segmentation. [ (identifying-market-segments) ] It allowed the airline to focused all its efforts on ensuring its target audience
It is easier to please a small select group of customers, than a large diverse on. Thus the airline has two classes, a business class and economy class. The business class passengers are primarily aged 35 to 45 and earn about £ 50 k and are usually on a business trip. Economy class is split evenly between business trip and leisure trips, average age is 41. [ (Virgin Atlantic Student information pack) ]
As a result, the airline has enjoyed a constant increase in its customer base. In 1987, the airline had a 1,123,371 passenger count, by 2003, this had considerably increased to a 38,571267 passenger count . [ (Virgin Atlantic Student information pack) ]
Happy customers
As stated earlier, Virgin Atlantic is a very popular airline. Due to its successful efforts at satisfying its target market, these customers view the airline in high regard. They will be quoted as saying that it is dependable, comfortable and the best airline around. Such statements lift the airline higher over its competitors. This is known as positioning.
The airline is also involved in charity events, and fundraising. In 2000, the airline donated £ 401,850 to chosen charities. It supports about four charities a year, while having its on charity
Introduction
Britain’s the second largest carrier service. Its huge popularity has ensured its success worldwide. This success is also due to a strategic plan implemented buy Virgin Atlantic. This presentation will attempt to point out some of these key strategies
Isolating Its Target Market
The airline decided early on that its target market would be business men and leisure travelers. By catering solely to this target, virgin created a niche market for itself giving it a slight advantage over its competitors, who at the time, dealt with all types of customers. This is market segmentation. [ (identifying-market-segments) ] It allowed the airline to focused all its efforts on ensuring its target audience
It is easier to please a small select group of customers, than a large diverse on. Thus the airline has two classes, a business class and economy class. The business class passengers are primarily aged 35 to 45 and earn about £ 50 k and are usually on a business trip. Economy class is split evenly between business trip and leisure trips, average age is 41. [ (Virgin Atlantic Student information pack) ]
As a result, the airline has enjoyed a constant increase in its customer base. In 1987, the airline had a 1,123,371 passenger count, by 2003, this had considerably increased to a 38,571267 passenger count . [ (Virgin Atlantic Student information pack) ]
Happy customers
As stated earlier, Virgin Atlantic is a very popular airline. Due to its successful efforts at satisfying its target market, these customers view the airline in high regard. They will be quoted as saying that it is dependable, comfortable and the best airline around. Such statements lift the airline higher over its competitors. This is known as positioning.
The airline is also involved in charity events, and fundraising. In 2000, the airline donated £ 401,850 to chosen charities. It supports about four charities a year, while having its on charity
Bibliography: Company Overview - online profile. (n.d.). Retrieved 04 20, 20, from Virgin Atlantic: http://www.virgin-tlantic.com/tridion/images/companyoverviewnov_tcm5-426059.pdf identifying-market-segments. (n.d.). Retrieved 04 20, 2011, from www.managementstudyguide.com: http://www.managementstudyguide.com/identifying-market-segments.htm Market Segmentation. (n.d.). Retrieved 04 20, 2011, from Forsee Change: http://www.virgin-atlantic.com/en/us/allaboutus/pressoffice/faq/index.jsp Press Office - Online Interview. (n.d.). Retrieved 04 20, 2011, from Virgin Atlantic: http://www.virgin-atlantic.com/en/us/allaboutus/pressoffice/faq/index.jsp Tracy, B. (n.d.). 7p 's of Marketing. Retrieved 04 20, 2011, from www.entrepreneur.com. Virgin Atlantic Student information pack. (n.d.). Retrieved May 09, 2011, from Virgin Atlantic: http://www.virginatlantic.com/studentinformationpack/