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Assignment example - Marketing Principles (Virgin Atlantic)
Pages 12 (3012 words)
Marketing is known as the act of communicating a product or service’s value to customers, it is about identifying the customer’s needs and delivering what they want at a price that they are willing to pay. Effective marketing involves examining business. …
Extract of sample
In their marketing campaign they have to focus on advertising services for kids as well as adults and choose and advertisement media that will reach both audiences such as newspaper and television or sponsoring family events.
On the other hand, when targeting corporations, Virgin Atlantic changes its marketing strategy to portray itself as business friendly. It offers packages that include staying in hotels that have large conference room and have video conferencing facilities available. Virgin also offers to plan out the itinerary of employees planning to go to more than one destination to attend conferences and seminars. The Company also provides with a frequent flyer program for corporations, it is called Flying Co, which rewards the corporation and its employees for flying frequently. The advertising tactics also differ, for Virgin Atlantic advertises its corporate services in Business Journals and magazines and airs it advertisement on business channels.
Marketing to two different consumers involves a lot of strategizing since in this industry, the end product is the same, and the only way they can differentiate the product is by packaging it differently. The same airline and the same flight is used by both consumers at the same time, thereby the standard services are the same, the method by which the airline manages to differentiate its services is by segmenting the aircraft into three classes; Upper Class, Premium Economy and Economy, ( decreasing prices).
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