The paper “ Virgin Group - Understanding the Market Situation and Marketing Opportunity the Business Provides" is a perfect example of a case study on marketing. Virgin Group which performs in the aviation industry is looking to provide adventurous people with an option through their brand Virgin Galactic. The company through this looks to provide the customer an option to fly at an altitude at 68 meters from where they can jump for four to five minutes of zero-gravity weightlessness and views both space and Earth. This will be something new in this direction and will help to attract thousands of people as it will make people have adventure something which they otherwise would not have.
This will provide an increased opportunity for Virgin Group to grow its business and will enable them to ensure long term profitability from this new venture. The objective of the AssignmentThe objective of this assignment is to identify the manner in which Virgin Group which is looking towards expanding its business ensure better strategic developments for its customers. To analyze the strategic analysis so that the effectiveness of adding a new business venture proves beneficial for the business.
To find out both the short and long term objectives and the manner in which Virgin Group looks towards accomplishing those objectives. To find out a risk management analysis this will dwell on a product, marketing, and contingencies so that the organization is able to develop a strategy for growth. Along with it finding the core customers, the pricing strategy and other areas that will help the business to be able to deal with the growing opportunity that the business presentsCurrent StrategyVirgin Group is looking towards adopting a strategy that helps to increase the penetration level as the company offers services that help to multiply the satisfaction level of customers.
For this the company has looked to provide the required training and skills to its employees, improving the logistics management and ensuring availability of the products, improving brand awareness and ensuring transparency by building on the values of a trustworthy brand which makes more customers choose the brand. The company is planning to add a new product where it will enable adventurous people to experience four to five minutes of zero-gravity weightlessness and view both space and Earth.
This will help Virgin Group to change its strategy and ensure that new value is provided to the customers. PESTEL AnalysisThe PESTEL analysis will help to understand the manner in which the external environment will have an influence on Virgin Group and the steps the company needs to take so that they are able to deal with the market in a better way and ensure growth for their business (Coughlan, Stern, & Ansary, 2006)PoliticalThe political situation helps in determining the manner an organization will be able to perform.
Virgin Group while looking to operate needs to understand the form of government. This makes it important that the Virgin Group conducts proper market surveys that will determine the manner the company will be able to perform. Virgin Group thus needs to meet the political standards set by the targeted market and follow a flexible route to adapt itself with the changing needs and ensure a success in its endeavor to go global, special care has to be taken to meet the quality standards of the services as per the requirements of the different countries (Coughlan, Stern, & Ansary, 2006).