Strategic Marketing/Seminar week 2 11thOct’07 Virgin Company
In this seminar we watched a video about the Virgin Company and its marketing philosophy. We were supposed to point out the companies long term values, marketing philosophy and their management process (decision making process). What I have learnt from this video is that the Virgin Company is a flat structured organization with too many layers of central management. Most of their assets and properties are valuable in those industries where they do not exist. They adopt the Big Bad Wolf Theory that is to search the market leader and try to make a better product. The virgin airlines have been quite innovative in the business as it was the first company to put a bar on board and have a massage service in their aircrafts. Their work environment is quite flexible and friendly. Every one at Virgin works as part of a team and they all feel like they are managing their own business. The company itself tries to provide strong values. Their aim is to offer consumers with better service and product.
As a conclusion I would say that overall Virgin is focused on long term profits and values as they did not have a dramatic impact on the costumers overnight. They see the opportunity to provide better value in the long term.
Seminar Body Fits
The case we used in this seminar was on a U.K based company known as “Body Fits”. This company produced Body fit leotards and sold them to different companies like Debenhams. For the time being the company is running successfully with good profits. In my views the company is flexible, recognized and adapts changes in the market but it doesn’t have a good marketing strategy. The business has little customer focus and their market research is not good since they are looking more on the process rather than the content. I think Body Fit is successful more by luck rather than judgment. Their market research is completely based on their product rather than the customers....