MKTG600-Assignment1 (1) JINESH JATINKUMAR PATEL

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MARKETING ASSIGNMENT LEARNING OUTCOME 1 TO 3 AURTHOR’S NAME: JINESH JATINKUMAR PATEL INSTITUTIONAL AFFILIATIONS: SASKATCHEWAN POLYTECHNIC COURSE NAME: BUSINESS MANAGEMENT-MKTG600 THE INSTRUCTOR’S NAME: DEVON L REID THE ASSIGNMENT DUE DATE: OCTOBER 3, 2023 MKTG600 Learning Outcomes 1 – 3 18 marks Assignment #1 MKTG600
Each student will be assigned a company in class to analyze for the purposes of this assignment. For your assigned brand, please choose and specify ONE of the products that they offer that you will use for the focus of this assignment. Company: __VIRGIN GROUP LTD.__ Product: __VIRGIN ATLANTIC AIRWAYS.__ 1. In Learning Outcome #1, we discussed the 5Cs of Situational Analysis as a framework to understand the environment that an organization is operating within. Research and discuss three specific examples relating elements of the 5Cs that could impact your company’s strategy around the product that you have identified. Please include references for each to support your analysis and clearly articulate which of the 5Cs is impacted in that scenario. (6 marks) ANSWER 1. INTRODUCTION: - Virgin Atlantic Airways Ltd is a British Airline and it’s a division of a Virgin Group Ltd, offers domestic and international travel as well as additional services. Additionally, it provides cargo services and vacation packages. The company was founded in 1984 under the name of British Atlantic Airways and its co-founders Randolph Fields and Alan Hellary had initially intended for it to operate flights between London and the Falkland Islands. After having differences with Richard Branson about the company’s management not long after the company’s name was changed to Virgin Atlantic Airway’s, Fields sold his interests in the business. Virgin Atlantic transports passengers throughout North America, Africa, the Middle East, Asia and the Caribbean using a mixed fleet of Boeing and Airbus aircraft. The company’s freight division links merchants, consumers and producers all around the world. Additionally, it provides daily services to china, Hong Kong, Africa, the Caribbean and Australia. The business provides vacation packages for more than 40 locations. The United Kingdom city Crawley, West Sussex is home to virgin Atlantic’s headquarters. Here are the 3 examples of how the elements of 5C’s frameworks could impact Virgin Atlantic Airways Ltd, which is a part of a Virgin Group Ltd:- 1. Company Strengths: Travellers looking for a different airline may drawn to Virgin Atlantic by it excellent brand reputation for innovation, customer service and a distinct flying experience. Weaknesses: Being a smaller airline than some of its rival might prevent Virgin Atlantic from achieving the economies of scale it needs to operate cost effectively. 2. Customers Customer Preferences: It is crucial for Virgin Atlantic to understand the needs of their customers. For example, if the target customer segment shifts toward a MKTG600
greater demand for sustainable travel options, Virgin Atlantic would need to adapt its services and marketing to meet this demand. Demographics: Virgin Atlantic’s marketing and service options may alter over time according on the age, income and travel habits of the customers. 3. Collaborators Supplier Relationship: Virgin Atlantics depends on the suppliers for maintenance, fuel and planes. The operations and the cost of the airline might be impacted by changes in supplier costs or the availability of specific aircraft model (for example, as a result of technical improvements. Partnership: Virgin Atlantic’s route network and convenience it provides to passengers may be impacted by alliances with other airlines, such as Delta Air Lines. 2. In Learning Outcome #2, we identified three different types of purchases based on the level of customer involvement required. For your chosen product, explain which type of purchase it would be classified as and discuss why. (2 marks) ANSWER 2: There exist three discrete categories of purchases that can be classified according to the degree of client engagement: Regular acquisition Purchase involving limited decision-making Purchase involving a thorough and careful decision-making process Virgin Atlantic Airways can be classified as belonging to the Extensive Decision-Making Purchase category due to various factors: Global Factors: Due to the characteristics of international and long-haul flights, travelers consider air travel to be a substantial financial commitment. They thoroughly examine several ticket choices, carefully evaluating aspects such as cost, amenities, and the airline’s reputation. Explicit Passenger Preferences: Passengers on long-haul flights frequently possess certain anticipations concerning seating comfort, entertainment offerings, dining selections, and luggage policies. These factors, in addition to reward schemes and airline alliances, contribute to a comprehensive decision-making process. Elaborate Travel Arrangement: When booking a flight, particularly for lengthy journeys, it is necessary to organize and manage many travel arrangements, including lodging, local transit, and activities at the intended location. This intricacy contributes additional dimensions to the process of making decisions. MKTG600
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ANSWER 3: The advertising for Virgin Atlantic Airways primarily targets the Self-Actualization Needs under Maslow’s Hierarchy of Needs. A hyperlink to the advertising is given. https://youtu.be/CUfXxaSBpYo?si=JYgL3zuerLgFRihu Rationale for the compatibility of Maslow’s theory: Luxury Services: The advertisement highlights amenities such as airport transportation for vehicles, dedicated lounges for passengers to relax, and high-quality food and drink options. These respond to the longing for personal satisfaction, emphasizing a superior and luxurious vacation experience. ANSWER 4: Virgin Atlantic Airways focuses its advertising efforts on psychographic segmentation. Concrete factors that provide support for this assertion encompass: The emphasis on convenience is demonstrated by the provision of vehicle services for transportation and the availability of exclusive lounges at the airport, which aim to ensure a smooth and effortless travel experience. Focus on providing comfort: The inclusion of facilities such as lounges and in-flight services caters to a specific demographic that desires a comfortable and relaxing travel experience. Premium Experience: The provision of food and beverage services demonstrates a dedication to improving the whole travel experience, attracting clients who appreciate high-quality services. The psychographic segmentation reveals that Virgin Atlantic is deliberately focusing on clients that prioritize convenience, comfort, and a high-quality travel experience. This aligns with their concentration on delivering excellent services and guaranteeing customer happiness. MKTG600
REFRENCES Virgin Atlantic . (2023, August 25). Wikipedia, the free encyclopedia. Retrieved October 3, 2023, from https://en.wikipedia.org/wiki/Virgin_Atlantic Pro, E. (2020, June 4). Solved marketing 5C : Virgin Atlantic airways: Ten years after analysis . EMBA Pro for Executive MBA Professionals. https://embapro.com/frontpage/marketing5ccase/13972-vaa-virgin MKTG600
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