Review of changing perspectives in marketing planning
Marketing planning is a critical activity for the improvement of business performance. Scholars believe that organizations should continuously review their strategies because the modern market has become very dynamic and competitive. (Lancaster, Massingham and Massingham 2). Companies should continuously develop new ways of gaining the trust of their customers; otherwise, they may lose their leading positions in the market (Shaw 3).
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This approach to marketing planning emphasizes the changing external environment of a company. However, at the same time, researchers note that management should be able to identify the core strengths of their products or services and constantly use these strengths. Only in this way, companies can make their brands recognizable. These are different perspectives on marketing paper. This report will show such a company as Virgin Atlantic Airways can do marketing planning.
The capability of Virgin Atlantic Airways to plan for future marketing activities
Since its inception, Virgin Atlantic Airways has grown and expanded into different markets. Currently, it is the second-largest airline company in the United Kingdom and manages to a variety of countries (Manning, Salter, and Tuinzing 3). The successful expansion of the company’s operations into diverse destinations indicates that this organization takes a careful approach to marketing.
Techniques for organizational auditing and analysis of external factors
Scholars argue that marketing planning should be based on the analysis of the internal and external environment (22). One of the techniques used for organizational auditing is STOW analysis that focuses on strengths, weaknesses, opportunities, and Threats to which a company is exposed. Moreover, one can refer to such techniques as PESTAL and STEP Analysis; these are the tools that are applied to study external forces that affect the marketing activities of a company.
Auditing and analysis of the external factors which affect marketing planning
It is possible to demonstrate how the techniques described in the previous section can be applied to Virgin Atlantic Airways. At first, one can speak about SWOT Analysis that is important for marketing planning.
1) The brand that is recognized by the majority of people who live in Great Britain (Manning, Salter and Tuinzing 11).
2) The employees, who have received excellent training, and who can successfully meet customer’s needs
3) Positive Publicity Weaknesses
1) Poor flight efficiency
2) The limited number of travel routes.
1) The development of online technologies that can improve the commercial activities of the company
2) Ability to open new routes in different countries
1) The competition put forward by other airlines
2) Global economic recession
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The second technique that may be applied is the PESTEL Analysis. It focuses on a variety of external forces that affect a company.
Political factors. The increasing globalization enables companies from Great Britain to operate in foreign countries.
Economic factors. One can speak about the legacies of the economic recession that affected the purchasing power of people.
Social factors. The main social factor is the increasing concern of many people whose attention is attracted to the dangers of air travel.
Technological factors. The development of technologies positively affects airline companies. For instance, they can offer customers an in-flight Internet connection (Manning, Salter and Tuinzing 11).
Environmental. The government of many countries wants airline companies to reduce their pollution of the environment and there is a growing need to reduce the waste left by the activities of airlines.
Legal. The existing regulations adopted in many countries compel airline companies to ensure the safety of passengers and minimize environmental pollution.
Finally, one should mention STEP Analysis that is also necessary to understand the external environment.
Social and cultural factors
1) The growing globalization and multiculturalism of modern societies. This multiculturalism can facilitate air traveling. Technological advances
1) The development of Internet technologies;
2) The adoption of eco-friendly materials.
1) The declining purchasing power of customers
2) The increasing number of contacts between national economies Political and legal environment
1) Regulations that require airline companies to ensure the safety of clients.
Lancaster, Geoffrey Lester Massingham, and Lester Massingham. Essentials of Marketing Management. New York: Routledge, 2011. Print.
Manning, Donal, James E. Salter and Andre Tuinzing. Virgin Atlantic Marketing Case Study. 2005.
Shaw, Stephen. Airline Marketing and Management. Aldershot: Ashgate, 2007. Print.