MARKETING STRATEGIES. LEARNING INTENTIONS Students will be able to:  Analyse Virgin Australia using the framework of Product, Price, Promotion and Place.

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Presentation transcript:

MARKETING STRATEGIES

LEARNING INTENTIONS Students will be able to:  Analyse Virgin Australia using the framework of Product, Price, Promotion and Place marketing strategies. Note: make sure you take notes as we go! Also, open up to page 312 of your textbooks.

THE MARKETING MIX

1. PRODUCT Branding A brand is the distinguishing name, slogan, symbol or design that is used to identify one manufacturer’s product and differentiate it from another manufacturer’s product. Products are advertised to make them seem different from others on the market (product differentiation).

1. PRODUCT Branding Analysis Example: BMW

1. PRODUCT Why is brand important? A brand can convey a mix of meanings: attributes, values, culture, personality and type of user. Let’s take a look at Apple and analyse its brand: Attributes of the product: Benefits: Values: Culture:

1. PRODUCT Let’s check out how Apple (Mac) advertised to try to differentiate their brand of products from Microsoft’s in the early 2000s.

1. PRODUCT Branding is important – adverse (bad) events can negatively impact a brand and do damage long after the initial problem has passed. Check out on the Wiki the two news articles – how might of these events impacted on Tiger & QANTAS’s brand?

2. PRICING

Read over the pricing strategies on page 319. Which do you think Virgin might be using?

3. PLACE Really ‘place’ is the wrong term (a misnomer). What we are looking at here is distribution – who is actually selling the product?

3. PLACE You can buy flights directly from Virgin – but where else can you also buy them?

4. PROMOTION How does the business communicate with its actual or potential customers?

4. PROMOTION How does the business communicate with its actual or potential customers? Advertisements Direct Marketing/Selling Sales Promotion Internet & Social media marketing

PRODUCT LIFE-CYCLE “The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.” - Warren Buffett