The Virgin Group
Richard Branson has started his business as a recording studio in 1970 with Nik Powell. During 1970-1980 he expanded his business in to films, books, holidays, airship and hotels. During 1980-2000 the business has further expanded in to Bridle ware, car and mobiles. Currently the virgin group is enjoying 53 Million customers worldwide, 69,000 employees in 35 countries and 16.6 billion of Euro revenue per annum. 37 million people are following virgin through social media such as Face book, Twitter, LinkedIn and Instagram. Virgin brand recognition over the world is 99% in UK, Australia and France, 96% in USA and South Africa.
Virgin has entered in to most of the countries such as Africa, Asia, Australia, Canada, …show more content…
The strategy tries to diversify into many feasible markets at lower cost and aim to provide better quality products than any other competitor in relevant market. But the key point here is, the focus market has to be in its growing stage to enter to the market.
As we can see in the introduction all of the names of businesses of the virgin group include the name “virgin” and the expectation of that is to have a well marketed, promoted and trusted brand name as the most important asset to the business. That also may be an important aspect to customers to hug the new businesses, even though they are new to the market. That is because consumers already know that if it is virgin, definitely fun, innovative and the daring will be there.
The Richard Branson’s key psychological strategy is using virgin name to all diversified businesses and from that most of the British public can easily identify that is if it is virgin, that owns by Richard Branson. That is mainly because of his more interactive role relating to marketing and promotion. Because of above reasons most of the companies try to build joint ventures with Richard Branson and for example is AMP limited which is engaged in international financial services, the initial investment was Euro 450 and it is almost 50:50 joint …show more content…
Number of stores: the Starbucks is highly concern about to expand the footprint and also change the store mix. The company has tried to buildup stores in drive-thrus in urban and suburban areas not to build dine in restaurants. Other than that they built number of stores in walk-thrus in New York, Boston and Seattle. The aim of doing so is to increase the store penetration. That is basically to increase sales with the confidence of minimum increase of 5%.
2. The coffee experience: The Company always tries to offer a highly customized and elevated experience to consumers. That means it always try to be the most preferred coffee shop among the competitors. Following picture explains how the Starbucks has expanded their store portfolio to attract new customers and retain existing customers.
They are in the same product and growing in to different type of offering styles. He aim of doing so is to face to the competition and offer a coffee better experience to