Virgin Mobile is a successful company based in the U. The company was well known for its hip and trendy position in the U.
How to Write a Summary of an Article? The company was well known for its hip and trendy position in the U. Although they have had a couple failures in the past including launching the MVNO in Singapore, the company decided to venture into the U. Virgin Mobile positions itself to come up with an appealing offer and ensure a run rate of one million subscribers in the first Virgin mobile essay and three million by the fourth year.
Keeping with the brand strategy and philosophy of making a difference, it enters areas, which are not well served which in this case is the age group of due to their low frequency of usage and poor credit rating. While targeting this segment lifestyle and psychographics factors are important as usage is inconsistent, Virgin mobile essay based on school and, vacation periods.
Virgin customers are attracted to the products and services because of the flexible monthly terms, easy to understand pricing structures, stylish handsets offered at affordable prices and relevant mobile data and entertainment content. Importance of that or its strategies, its strategies are not Does management have control over them?
On the other hand there are threats that are looming due to the market that seems to have reached maturity and overcrowded. There is limited National coverage which needs to be expanded.
These threats must be countered effectively. Buyer power Strong Current cell phone service providers are numerous, which allows for many options for buyers.
Barriers to Entry Weak — There is nothing that will prevent Virgin from competing to an untapped market. The threat of substitutes Weak — There are very few substitutes available that offer mobile and immediate communication. Degree of Rivalry Strong — Competitors have brand recognition in the US and have the majority of the market share.
Porters Generic Forces Virgin Mobile applies the three generic strategies. Cost leadership strategy that seeks to minimize costs and maximize profits. They also sought to hire talented staff that is friendly and good at understanding and meeting customer needs. To this end, the company signed an exclusive, multiyear content and marketing agreement with MTV networks to deliver music, games, and other MTV- VH1- and Nickelodeon based content to Virgin Mobile subscribers.
Therefore Virgin Mobile focuses on unique image that is youth oriented while other providers focus on business people.
There are advantages and risks exhibited with each strategic option. This segment represented a possible opportunities for market penetration. It identified two attitudinal and lifestyle markets in their chosen segment; those that had no credit and wanted a phone with no contracts but can indulge in text messaging, downloading information into the cell phone and they were more likely to use ring tones, faceplates and graphic and those that wanted a phone as a fashion statement.
Even people with similar usage needs, often have differing lifestyles representing various value sets. For example some people have an active lifestyle in which sports and fitness play an important role, while for others, art, fashion and trends may be very important.
Key numbers for fiscal year ending December, M One year growth: Initially, Virgin may have no great profits since they are trying to be the low cost provider. Although they were profitable in the UK, they have no brand recognition in the US to fall back on.
Based data, Virgin Mobile is able to compete effectively with their major competitors as far as sales are concerned. They are also able to do this will less employees, meaning low operating cost.
Score Overall Market Size 0. The fact of the matter is that competition in the cellular phone business is strong with many competitors.
Currently the top providers operate to benefit themselves and not the consumer with high prices and limited features for the money.
Virgin Mobile must strive to excel. The implication is that the firm is operating within a market that is experiencing negative to stable growth and that Virgin Mobile is experiencing severe financial constraints. Virgin Mobile knows that the market is saturated and very competitive they went ahead and positioned themselves to pursue their niche in the market share.
I recommend applying a combination of retrenchment, divestiture, liquidation and concentric diversification. Recommendations Virgin Mobile wants to compete within a new market and not have the competition beat them in this game. Several options as far as pricing were developed by the company.
They can either clone existing prices, price below the competition, or create their own unique pricing strategy. Cloning the industry, will not allow them to differentiate themselves in order to stand out from the competition, although, it would be easy to promote.Virgin Group Case Study Words | 22 Pages.
Executive summary The Virgin Group is one of the UK's largest private companies. Conceived in by Sir Richard Branson, the Virgin Group has gone on to grow very successful businesses in sectors ranging from mobile telephony, to transportation, travel, financial services, leisure, music, holidays, publishing and retailing.
VIRGIN MOBILE-THINK HAT KE MARKETING PROJECT PREPARED BY:9/12/ September VIRGIN MOBILE-THINK HAT KE 12, Why Virgin Mobile In Indian mobile market, Virgin mobile is a unique player based on its business model and strategy.
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