This report has been produced in conjunction with the Case study: Virgin Atlantic Airways, 10 years after, for the purpose of the Marketing assessment for the MSc International Hospitality Management.
Virgin began in the 1970s with a student magazine and small mail order record company. Virgin's growth has been fast, however, not through natural progression but rather through acquisition and partnerships with other companies, author, year.
Virgin is currently known as the third most recognized brand in Britain, which is now becoming the first global brand name of the 21st century, (author, year). Virgin is involved in planes, trains, finance, soft drinks, music, mobile phones, holidays, cars, wines, publishing and bridal wears.
Virgin Atlantic's total revenue in 2003 dropped to ÃÂ£1041m. Nonetheless, post 9/11, all airlines and international global brands have experienced difficulties, (author, year).
In this Marketing audit, three aspects of Virgin Atlantic will be analyzed; customer value, product positioning and product vulnerability.
3.1 Customer Value
"To grow a profitable airline, that people love to fly and where people love to work." Virgin Atlantic Mission Statement, 2004, www.virgin.com
Virgin Atlantic's approach is completely based on customers' needs. In the customers' eyes, Virgin stands for value for money, quality, innovation, fun and a sense of competitive challenge, (author, year)
Virgin monitors all customer feedback to continually improve the customer's experience. However, an inside, un-named source of Virgin Atlantic Airlines, cited in author, year was quoted as saying, "We need to grow up and find a new role, our Peter Pan-ish founder isn't much help; Branson is too busy with mobile phones, trains and countless other ventures."
Although the Virgin Atlantic group have won the Executive Travel of the year award for three consecutive years, complacency has set in. Moreover, due to their associations...