This situational analytical approach on Virgin Australia domestic business class product and its ambitious ‘Game Change’ strategic plan elict a comprehensive descriptive research data of the product, distribution, competition, target market and macro environmental situations which are exploited with SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. The objectives draw out three main marketing issues- cost control, improvement to competitive advantage without lowering pricing alone and strengthening its position as a full service carrier. Those factors that affect the product’s performance can then generate new insights and strategies about the product sustainability in the dynamic characteristics of demand and the proliferation of the airline market segments.
The essence of the Game Change strategic plan involves activities that are different from the incumbent airline. This differentiation is important in order to knockout its competitive advantage over rivals. Virgin must compete using its valuable tools and unique value based on a tailored mix of activities that differentiate it from rivals but not lowering its pricing alone to attract travellers.
The ethos of Virgin Australia’s vision is the ‘choice of airline’ that must match into the new business model in the marketing process. To support this view, fundamental changes are being embedded and underway according to plan which requires a different business model and interactions. Virgin has opted and entered into the growth strategies of product development and diversification through product/brand extension. The business class product is an example of brand extension which will be discussed.
Table of Contents
EXECUTIVE SUMMARY
1. Introduction
2. Virgin Australia- Company snapshot
2.1 The emergent of a new low cost carrier-Virgin Blue
2.2 The Game Change strategy and a new name- Virgin Australia
2.3 Financial proposition and corporate vision
3. Product overview
3.1 Sydney-Perth business class product overview
4. Strengths and weaknesses in the present marketing mix
4.1 Product
4.2 Promotion
4.3 Price
4.4 Distribution
5. The market situation
5.1 Identified target markets
5.2 Size of Target Markets
6. The product situation
6.1 Product and brand recognition
6.2 Market share
6.3 Product Sales
6.4 Product issues- Costs and pricing
7. The distribution situation
8. The Competitor Situation
9. Macro environment situation
10. The SWOT analysis
11. Identification of main issues
11.1 The tradeoffs between pricing and profitability
11.2 ‘Choice of airline’: Something not much different
11.3 Effect of communication technology
11.4 First class value at the price of business class
11.5 Loyalty as a long term relationship
12. Conclusion
References
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