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Strategic Marketing Report - Virgin Trains

Extracts from this document...

Introduction

DANIEL ROSE UNIT 3 STRATEGIC MARKETING REPORT VIRGIN TRAINS TABLE OF CONTENTS TERMS OF REFERENCE 2 1 METHODOLOGY 2 THE IMPORTANCE OF MARKETING 2 3 INTRODUCTION TO VIRGIN TRAINS 2 3.1 The Train 2 3.2 Virgin Trains 2 3.3 Situation Analysis 2 4 MARKET RESEARCH PLAN 2 5 MARKET RESEARCH 2 5.1 Secondary Research 2 5.1.1 Business Mission 2 5.2 The Charter 2 5.3 Questionnaire 2 6 INTERNAL ANALYSIS 2 6.1 Marketing Objective 2 6.2 Product life cycle 2 6.3 Financial Capabilities 2 6.4 Technical Competence 2 6.5 Personnel 2 6.6 Customer Relationships 2 6.7 Competition 2 7 EXTERNAL ANALYSIS 2 7.1 SLEPT Analysis 2 8 SWOT ANALYSIS 2 9 FORMULATING A MARKET STRATEGY 2 Ansoff's Matrix 2 9.2 Porters Competitive forces and generic strategies 2 9.3 Boston Matrix 2 10 ASSEMBLING THE MARKETING MIX 2 10.1 Product 2 10.2 Price 2 10.2.1 Internal 2 10.2.2 External 2 10.3 Place 2 10.4 Promotion 2 11 CONTINGENCY PLANNING 2 12 CONCLUSION 2 13 POWER POINT PRESENTATION SLIDE PRINT OUT 2 14 QUESTIONNAIRE BACK 15 LEAFLET OF SECONDARY RESEARCH AND PRIMARY RESULTS BACK Terms of Reference To: Mr Earnshaw From: Daniel James Rose Subject: Unit 1 Business at work Date: July 2002 Synopsis: I am a 6th form student studying Double AVCE Business Studies at Holywell High school. For my unit 3 coursework I have to do a Marketing report, I've chosen to do the report upon the Virgin Train service. 1 Methodology 1. Find out as much as possible about marketing theories and principles from books in the library and the Internet. 2. Analyse the service Virgin Trains offers. 3. Carry out secondary research, looking at Virgin Trains and primary field research. 4. Analyse all the data collected to produce a SWOT & SLEPT analysis. 5. Look at the different marketing strategies and choose an appropriate on to suite Virgin Trains. 6. Compile all the Information into a word processed document in a report format 7. ...read more.

Middle

If these are put into place then the likeliness is that people will stop using the car to cut out these tolls, which means the Train will be the most viable route to work. Then also a rise in Fuel tax would also decrease the use of the roads because people would see they'd save money in using the service. Also in if the government decided to invest more into the rail industry. Threats; The poor image of the rail industry is the main weakness of Virgin Trains since people are now scared of train seeing them as unfit for purpose because of the recent rail incidents. They have to timetable the use of the rail lines with other companies so are reliant on the rail infrastructure. Cars are the main threat since they offer a cheap quality y service, which you decide on where you go how fast, and when you stop also the road surface extends outside peoples houses so they aren't fixed to a track. (See 6.7 Competition) Strengths Weaknesses Established Brand Good Reputation in other sectors Public face of Richard Branson Financial Credibility Use the time tabling to show the Value of Virgin Unreliable Opportunities Threats No Advance Train Tech. In market M6 Tolls Rise in Fuel Tax Fix The Problem to be the First to save the rail industry and increase the image of Virgin Trains Poor Image of Rail Other Companies Timetable with others Cars/planes (other transport) The point of this is to match the weakness to convert them to strengths and match the opportunities to threats. 9 Formulating a Market Strategy 9.1 Ansoff's Matrix Present New Pr esen t Market Penetration Is the basic growth area, continuing to obtain a larger market with the same product Product Development Coming up with ideas for new products in existing markets New Market Development Searching for new Markets for existing products Diversification Developing new products for new markets The Ansoff Matrix is a matrix is to decide the growth strategy. ...read more.

Conclusion

If Virgin Trains done some more advertising then I feel they would gain a bigger proportion of the market and get back custom that left after the train incidents. A bit of thought as to what type of advertising and what adverts to place would be great a new slogan for the company would also do no harm. The different theories I've used are as far as myself is concerned not as useful as they sound they have a lot of detail placed into them but very little useable output. The main use of them was to give a visible image of where the company or product was. The product life cycle was the most useful for the company since from this they could discover the fluctuations in the purchasing of the service from this they could see trends and predict when and where the booms would be. The Boston Matrix however was useful to an extent since the information given related to the product life cycle and could tell you where you are, where you're going and what to do. This information would be useful to the company so they could be prepared for the decline in sales and place themselves with other products and services to compare them. Ansoffs matrix I felt wasn't useful on a large scale and since Virgin is a very large company this wouldn't help because they've expanded into all areas already. I think that virgin probably used the Ansoffs matrix when they started and then followed the information derived from it to expand into the company they are. If they did use it and it's responsible for the current size and success of virgin then it is a very good theory. 13 Power Point Presentation Slide Print Out This is the Presentation that was made on the 20th of April 2002 14 Questionnaire 15 Leaflet of Secondary Research and Primary Results Take This Sheet Out ?? ?? ?? ?? 1 Daniel Rose Pg. AVCE Business Marketing ...read more.

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