• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26
  27. 27
    27
  28. 28
    28
  29. 29
    29
  30. 30
    30
  31. 31
    31
  32. 32
    32
  33. 33
    33
  34. 34
    34
  35. 35
    35
  36. 36
    36
  37. 37
    37
  38. 38
    38
  39. 39
    39

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Marked by a teacher

    Section 2-Marketing

    4 star(s)

    A number of price strategies are used by different companies, often even within lines of products. If the price is not set right, then the business will not make a profit. Too low and the company will make a loss on the product as the revenue won't be high enough

  2. Analysis of the current strategic situation facing Marks & Spencer.

    Few changes were made to these strategies or methods of operations during its growth period. For example, standardised store layouts were used so M&S could guarantee consistency of image and training was kept the same at every store to ensure high levels of service.

  1. This report will define and explain the following marketing terms: Marketing ...

    Printed media is the largest group of media in the UK. The group includes newspapers and magazines both local and national. So organisations can direct advertising to the right people by putting the advertisement in the right part of a magazine or newspaper but it all depends on the product and what age group they are aiming for.

  2. Introduction to the fashion Industry report

    I have included these in my file; they contain colour forecasts and reviews of the shows including yarn shows and Pure in London. To help make an accurate prediction the forecaster has to consider what was popular last season, as the basic shapes does not change that much from season to season.

  1. The concept of segmentation and the bases for segmenting markets - The main methods of ...

    The benefits of segmentation are many. Through the use of customer analysis a better understanding of customers needs and wants can be achieved. This will enable personal, situational and behavioural factors to be considered leading to higher levels of satisfaction if all changes are made and implemented.

  2. Sullivan Ford Auto World Report - Discussing Marketing in the Service Industry

    The Sullivan dealership promotes cars to with advertising on "radio and television commercials", "promotions, discounts and deals". To promote the service element of the business, emphasis must be put on making the offer more tangible and in turn, easier to evaluate for the consumer.

  1. In short tem Quality Craft Carpet Ltd should focus on direct marketing strategy to ...

    Price is also important in 'not for profit' organizations where services or products are sold or dispensed. As an element of the marketing mix price is, of course, the source of revenue for the organization, whereas the other elements incur costs.

  2. Marketing research - To decide which products and services will be available in my ...

    As part of my research I conducted an interview with Parul Sayania, who is the owner of a similar business in Leeds. I asked the question "What do you make/sell/provide?" Mrs. Sayania informed me that she provides the following services: * Eyebrow threading * Upper-lip threading * Cheek threading *

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work