STRENGTHS -  

*Sir Richard Branson as the founder and leader of the Virgin Group – His management style and personable nature. 

*The Virgin Group gives autonomy to its employees in decision making for the company. 

*A widely diverse portfolio 

*Marketing – successful in branding, advertising, and the promotion of its people. Empowering and meaningful. 

Virgin.com (2023)

WEAKNESSES -  

*Poor reviews on Trustpilot for Virgin Media – out of 83,931 reviews, 63% are 1 star and only 10% 5 stars, scoring a poor 1.8. 

trustpilot.com (undated)

*Too diverse – too many company fractions splitting focus. 

*The branding suggests expensive and could isolate a portion of the market. 

OPPORTUNITIES 

*To concentrate on the most popular, well performing services and businesses of the group. 

*To further expand the connections between communities and diverse work force. 

*Reduce environmental impacts. 

Marketingweek.com (24/02/2021)

THREATS 

*Other media companies being more dependable, cheaper, and offering a better customer service. 

*PlusNet and Talk Talk both outperform Virgin Media on Trustpilot with 2.4 and 2.9 out of 5 stars, respectively. 

Trustpilot.com (2023)

Financial Times (2021) How has Brexit affected the wine trade? [online newspaper]. Available from https://www.ft.com/content/fc2e5afe-12d1-acc9-ac82de7e4355 [accessed 24 October 2023]

Gibbs, G (1988). Learning by Doing: A guide to teaching and learning methods. Further Education Unit. Oxford Polytechnic: Oxford. 

Milmo, D 2012 Virgin empire: from selling records to running trains and airline, Available at https://www.theguardian.com/business/2012/aug/15/virgin-train-richard-branson [accessed 15 Nov 2023]

Pham, M. (2021) How Virgin Media plans to be seen as a 'brand with purpose beyond profit: Marketing Week. Available from https://www.marketingweek.com/virgin-media-brand-purpose-beyond-profit/ [accessed 19 October 2023].

Price, O 2023 The Virgin Flops: Branson’s Brand Disasters, Available at https://www.dailymail.co.uk/news/article-11942275/After-Virgin-Orbit-failure-Richard-Bransons-successes-like-music-cola-bridal-gown-disasters.html#:~:text=The%20last%20Virgin%20Brides%20shop,’ [accessed 15 Nov 2023]

Statista Research Department (2022) Total assets of the Virgin Money Group in the United Kingdom from 2011 to 2022, Available at https://www.statista.com/statistics/509615/virgin-money-groups-total-assets-united-kingdom/ [accessed 15 Nov 2023]

Trust Pilot (2023) Plusnet Reviews. Avaialable from https://www.trustpilot.com/review/www.plus.net [accessed 19 October 2023]

Trust Pilot (2023) TalkTalk Reviews. Available from https://www.trustpilot.com/review/www.talktalk.co.uk [accessed 19 October 2023]

Trust Pilot (2023) Virgin Media Reviews. Available from https://www.trustpilot.com/review/www.virginmedia.com [accessed 19 October 2023]

Virgin Official Site 2023 Our Story [website]. Available from https://www.virgin.com/about-virign/our-story [accessed 19 October 2023]

POSTER ONE REFERENCE LIST

Blackburn, J (2023). Marketing Mix and Branding. Available at https://don.instructure.com/courses/3901/files/284921?module_item_id=108215 [accessed 25 Nov 2023]

Charmichael, K (2021). Extended Marketing Mix: What is is? And why is it useful? Available at https://blog.hubspot.com/marketing/extended [accessed 25 Nov 2023.]

Jobber, D (2019). Principles and Practice of Marketing. Maidenhead, Berkshire: McGraw-Hill

Market Business News (2021). What are the 5 C’s of Marketing? Definition and examples. Available at https://marketbusinessnews.com/financial-glossary/five-cs/ [accessed 25 Nov 2023]

McLeod, S (2023). Maslow’s Hierarchy of Needs. Available at https://www.simplypsychology.org. [accessed 30 Nov 2023]

POSTER TWO REFERENCE LIST

Bagozzi, R.P. (1975) Marketing as Exchange. Journal of Marketing, 39, 32-39.

Blythe, J. (2019) Essentials of Marketing. 7^th Edition. Harlow: Pearson

Hooley, GJ and Lynch, JE. (1990) The Marketing Concept: Putting the Theory into Practice. Vol 24, No 9

Jobber, D. (2016) Principles and Practice of Marketing, Maidenhead: McGraw-Hill

Maslow, AH. (2011) Hierarchy of Needs: A Theory of Human Motivation. www.all-about-psychology.com

Political

External Factors to Consider – Government Policy, Political Stability, Tax, Industry Regulations, Global Trade Agreements and or Restrictions.

Factors Affected Within My Industry - Travel restrictions enforced by change to the EU, Brexit affecting imports and exports of wines.

Importance to Organisation – Virgin Travel and Trains – In November 2018, an agreement was reached between the US and the UK dubbed the “Open Skies Agreement” to ensure that all passenger flights would continue to operate without deviation. This also extended to connecting flights to or from an EU country at Manchester or Heathrow – “ensures seamless air connectivity is maintained.”

(Virgin Atlantic, 2020)

(Appendix 1)

Virgin Wines – On the whole, wine merchants, especially the larger ones, are bearing the increased costs of importing wine post Brexit from countries within the EU.

The more imposing problem for both exports and imports is the extra transport taxes and fees and the added paperwork involved, which has reverted to actual pen and paper forms rather than digital as before.
“It used to be pretty obvious that unless one shipped a huge quantity from the New World, shipping from Europe was cheaper. That is no longer the case.”

(Simon Taylor, Stone, Vine & Sun, 2021)

(Financial Times, 2021)

Hi, I’m Lindsay, I’m going to be talking about Virgin Group.

Yes, that’s right, the internationally renowned, multi-billion-pound company, Virgin Group. Particularly, the Products and Promotion strategies the company uses.

Virgin was the brainchild of Richard Branson and Nik Powell.

In February 1970 they started a mail order service for students selling cut price records.

Today, Virgin Group Limited is a multinational venture capital conglomerate!

In 2022 their assets were recorded at £91.9 billion.

(Statista, 2022)

For over 50 years, Virgin has been in the forefront of business, building around its customers' needs. 

The CEO’s insatiable appetite for forward thinking, positive change, and diversity has led the company to build a large portfolio, all the while, throwing the gauntlet down to existing blueprints and promoting and nurturing its people and the planet. 

(Virgin.com, 2023)

The Virgin Group portfolio of products is vast, and together with Richard Bransons pioneering ideas and encouraging, amenable management style, the businesses have grown, evolved, and adapted to changing trends. Following the CIM definition of marketing, identifying, and anticipating customers’ requirements to both the consumer and the company’s satisfaction. (Exall, I 2023)

The starting product was Virgin Records, sold to Thorm EMI in 1992 for £510m (BBC, 2012)

Virgin Music Publishing was launched in the UK in 1973 and 1986 in the USA.

Virgin Megastore expanded globally in 1979 and Virgin Gaming (later renamed Virgin Interactive) was added to the portfolio in 1981. Following consumer trends and popular social fashions within the industry. (Virgin.com, 2023)

Virgin Atlantic Airline was launched in 1984, and Virgin Holidays in 1985.

In 1987, Branson, ever politically and socially aware, foregoes the brand name on the companies Condom range, instead calling them “Mates”. Aimed at young adults, they were a lower cost alternative on the market, and the range was to help combat the AIDS epidemic. The company aired the first ever condom advert on British television.

(Milmo, D 2012) Mates Condoms 80's Commercial - YouTube

Virgin Publishing (later Virgin Books) was opened, boasting 100% of its paper and other core materials ethically and sustainably sourced, contributing to the company’s environmental pledge to be climate neutral by 2030.

Virgin Radio, Cola, Vodka, Cinemas, Trains, Cosmetics and the very first V festival all appear during the 1990’s.

The ventures are innovative and are making the company stronger.

This is a fantastic opportunity for growth, but some prove too diverse – too many company fractions are splitting focus. 

Virgin Cola could not compete with its big rivals Coca-Cola & Pepsi, even after Branson drove a tank through New York City streets declaring war!

Virgin Brides closed its doors in 2007. Branson quipped “I think because there aren’t many virgin brides, it never really took off.”

The Cosmetics brand known as Virgin Vie never really gained the popularity that was predicted and by 2009 it was sold off. (Price, O 2023)

Another streamline to the portfolio came when Virgin Media was sold to Liberty Global for $23.3bn in 2012. This was one of their weaker performing businesses with poor reviews on Trustpilot for Virgin Media – scoring a poor 1.7. 

In comparison to other providers, they were trailing in the market. This is not an image Virgin want, as their brand is ground-breaking and trendsetting.

(trustpilot.com, undated)

Another of the strengths of the business is the product placing and branding.

The Virgin Logo is instantly recognisable as it is now but has gone through a significant change since its original design by Roger Dean in 1970. Designed with the record label in mind, the Gemini twins were right on trend for the time, but when the Sex Pistols were signed, the ‘hippy looking’ logo was not what Johnny Rotten had in mind.

The Virgin strategy is bold, using unusual ways – no play safe messaging. For standout storytelling they use guest cameos, (including Branson himself) humour, impact, and iconic soundtracks.

They are a globally recognised brand across multiple sectors including travel, banking, health and fitness, communications, and entertainment. The logo splashed across trains, planes, billboards, busses as well as media channels. TV, Radio, and social media are far reaching and can create cookies for brand and market research on future products. (Virgin.com, 2023)

Virgin has been particularly successful in ‘Tagging’ information about the company in consumers memories – using the same innovative approach, the view is transferred from the parent brand to the new brands. (Blythe, J. 2006, 165)

Virgin as a brand is excellent at relationship marketing, creating loyalty with reliability which enables them to sustain their longevity in the market. Branson himself creates a familiar presence, consumers feel they know him and like him and so want to buy the products and services over many years, returning again and again.

The 4 P’s

Product - Functionality, Brand, Packaging, Services

Price – List Price, Discounts, Bundling, Credit Terms

Place – Channel, Inventory, Logistics, Distribution

Promotion – Advertising, Sales Force, Publicity, Sales Promotion

Getting the right price for your target market is essential as part of your marketing strategy. It’s not just a profit and loss exercise. You need to gauge the mood of your consumer, their demographic, disposable income, and current trends. Also taking into consideration the desirability of your product against peoples wants and needs (Maslow, 1954) and their perceived value.

Changing the price is an established and well-practiced strategy but it needs to be approached with care and can be sensitive. Considering your brands place in line with the market competition too, ensuring yours is the most coveted.

Included in the Marketing Mix is the creation, development and management of the product or service. After care is also a factor of the whole marketing strategy, guarantees, follow up and add ons. Any part of the sales process that makes your company service or product stand out.

Branding is as critical as making sure the products are fit for purpose.

(Jobber, D. 2019)

Also, a valuable framework to consider in business strategy are the 5 C’ of Marketing.

Company: It’s goals and capabilities, strengths, and challenges.

Competitors: Rivals that offer similar services or products, their USP and market share.

Customers: Your consumer target market, their wants, preferences, loyalty, and value.

Collaborators: Suppliers, distributers, partners, shareholders.

Context: Macro-environmental factors considered in the company PESTLE analysis.

(Market Business News, 2023)

It’s also important not to forget about the other 3 P’s.

People – Target, Consumer

Process – Price, Personnel selling, Communication, Sales Incentives, Customer Service

Physical Environment – Layout, Ambience, Design, Location

These were added to the marketing mix as the original was outdated and the additional pillars now allow for services marketing.

Customer Oriented Brand Strategy

Relationship Marketing is key in business strategy. Gaining customers loyalty through strong branding and customer service to sustain longevity in the market. Making consumers feel valued by making tailored offers based on previous purchase. Loyalty cards and points rewards for repeat business. Making them feel part of your company’s family so they almost feel disloyal shopping anywhere else – They have faith in you.

At its core….

Businesses that strive to not only MEET their customers’ needs but EXCEED them, and do so better than any of their rivals! (D, Jobber. 2016)

The Exchange Process - Both Parties need to create utility from the exchange – Richard Bagozzi, Marketing as Exchange

A customer-oriented Business needs to define a place in the market that sets it apart and highlights its assets, creating and maintaining a strong relationship with consumers and shareholders alike. This will project significant benefits to their overall performance. (Hooley & Lynch. 1990)

Branding – Advertising – Aftercare – Great Customer Service

Creates Loyalty – Promotes Trust – Forms Familiarity – and Builds Sustainable Repeat Business.

Considering your target market, their demographic and expendable income. Their desires, wants and needs and using an augmented strategy to turn the desire into purchase.

A range of marketing tools can be far reaching across many different demographics, meeting customer satisfaction from the beginning. Magazines and catalogues are preferable for an older generation with the option to order through mail or telephone. For the more tech savvy millennials, social platforms are more accessible and apps, one click order options are the way to attract and keep your buyers.

Marketing can be used to influence a buyers decision making process:

Cultural – A persons Culture, subculture (Vegan, Hallal, Hispanic etc.) and social class

Social – Social Networks, Groups, Family and Status

Personal – Age, Occupation, Economic situation, Lifestyle, Personality and Self-concept

Psychological - Motivation, Perception, Belief and Attitudes – Self Esteem (Maslow, 2011)

All of these internal and external influences have a profound effect on a consumers buying decisions – our marketing strategy can help to persuade them towards our products and services.

A customer will begin with a basic recognition of need or want, this will progress to them wanting to research the product or service, then a comparison to other, similar products on the market, moving on to a purchase, and then to after sales expectations – guarantees, product satisfaction, loyalty points/rewards. (J, Blythe. 2019)

Also influencing perceptions of the company as a whole is important - A company that takes into account the wider implications of their processes will present better in the public mind – Supporting local communities – a pledge to commit to ethical resourcing, or zero carbon footprint, using local produce or supporting sustainable farming/energy methods.

This project has been extremely enjoyable.

Putting together the Padlet, Infographics and PowerPoint back drop fed into my creative side, and this is something I flourish at.

The research of the company was time consuming, especially when it came to the referencing of all the sources, but it was very interesting digging into the background of such a well-known entrepreneur and there were some very funny and also heartwarming stories that I discovered. Unfortunately, not all of them relevant or necessary for this assignment.

Padlet is not a platform I have used before, but I found it straightforward and easy to use.

Using Canva for the posters was great! I have used this before for work projects but after instruction in the seminar I was able to explore and utilise many more of the features.

The video, however, proved to be a bit more challenging. Another new platform to me was Microsoft Stream. I already had the PowerPoint slides ready for my background, another skill I have used in my job role. When it came to the actual filming though, I kept tripping up over my words and had to re-record countless times before the final edit.

I feel I have managed my time well with this project and am happy with the overall look of my Padlet.

Going forward, I would give myself more time to prepare before using new platforms – Instead of rushing ahead and making mistakes. (Gibbs, G. 1988)

Student ID number: 40068035

Date: 13 January 2024

Looking at your padlet made a huge impression on me. I like the way you create the sections, everything is organised and clear. A very good idea was to include an introduction that helped present your company. Your video was very well presented, I liked that you used slides, which made your work look more attentive. A lot of specific information was included in your well-written video script, which was interesting to read. SWOT and PESTLE analyses were very clear and well-written. You used references in the text, and you made a very good reference list. Your first poster is well presented, you have described what the marketing mix is, as you explained what the 7P’s are and the 5C’s of Marketing. The Colours that you choose, and the Virgin logo make your poster look attractive. Your second poster like the first one is nicely laid out and again using your brand logo and colours made it look special. You’ve explained the marketing strategy which was easy to understand. I liked viewing your padlet, you did great work! Very well done!