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Business strategies of the virgin group
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
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Marketing is defined by Kotler and Armstrong (2011) as satisfying the customer needs. This is because if the marketer can understand the needs they will be able to produce products to the taste of the customers and therefore the products will then sell better and more will then be sold. This is called the customer orientation approach as stated by Capon (2009) and this way strives to find the needs of the customers and provide a product or service to fulfil these needs.
One business that does a large amount of marketing is Virgin, this is obvious through the television adverts that you see as one example. Although Virgin being a large company in the UK, over the world they are not that large compared with other larger US companies, for example Virgin Atlantic Airlines is not as large as United America Airline with Popick (2013) stating that Virgin only has around 18 departures per
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This sort of advertising can be done in a way to reach the target market that Virgin is aiming to hit and will encourage new customers to sign up to Virgin media. Ways that this can be done is through doing the Television adverts after a certain programme or at a particular time when the target market will be watching the television and will see the advert. Increasing the number of customers. Another way in which Virgin advertises their products is through TIVO to existing customers. This can be done in many ways such as through emails, letters and again television adverts can be used for this as well This will be used to entice customers to buy more add ons and upgrade their existing Virgin media contracts. Both these roles will increase the revenue and therefore is likely to increase the profit also. These two methods are particularly good as they focus on two different types of
This will help us increase our market share percentage and eventually generate more income in the company.
Marketing creates a healthy competition with other competitors which enables the company to remain in good relationship with the customers.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Marketing is a very powerful tool. Unknown to many individuals, the influence marketing has on them is far more than mere visual and audio stimulation. It effects their perception of their surroundings and themselves. Marketing how the power to form our perception of life. A successful company understands this principle and harnesses the power of effective marketing.
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
Advantages: a. Increased revenue and economy of scale by increasing value to the combined
Marketing is a big concept that is difficult to define or know the meaning of one side or a specific angle because of the company's reliance on it in many aspects and complex issue for successful company strategy. There
Organizational culture refers to a pattern of basic assumptions about a particular group, association, or organization that are so well integrated to help the group deal with issues concerning both its internal and external environment.They are upheld by all existing members of the group and passed on to new ones. (Schein, 1992, p. 111)
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations that lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010).
However, there are also hidden purposes behind those advertisements. One of them are to maintain the image of the company that produces the advertisement as well as barring new competitions to take over the monopoly of the company. Besides that, advertisement is also responsible to inform the customers about the changes in the product or service that is being advertised while at the same time to ensure that the customer would still buy the product or service despite the changes that are being made.
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...