Virgin Atlantic Airways: 10 Years Later.

4410 words - 18 pages

Virgin Atlantic Airways: 10 Years Later(and beyond)(Case prepared by Pantea Denoyelle, Research Associate, under the supervision of Jean-Claude Larreche, Alfred H. Heineken Professor of Marketing at INSEAD.)"June 1994, Virgin Atlantic Airways celebrated its 10th anniversary of its inaugural flight to New York. Richard Branson, the airline's chairman and founder, reminisced about its tremendous growth. In 10 short years, he had established Virgin Atlantic as Britain's second largest long-haul airline, with a reputation for quality and innovative product development. Richard Branson turned his thoughts to the challenges that lay ahead."Virgin Atlantic AirlinesExecutive SummaryIn our globalize economy that we live in, companies, such as Virgin Group are constantly improving and looking for new opportunities to sell their products and services to the world. As stated by Richard Branson, Chairman and Founder of the Virgin Group, "Our vision is to provide the highest quality innovative service at excellent value for money for all classes of air travelers."The case study tells how Richard Branson has climbed from a managing and editing his own local school magazine, to owning a record label, creating and bringing Virgin Atlantic Airways into an already crowded market, and has joined with others such as the Singapore Airlines to expand and grow Virgin Atlantic Airways.The Virgin Group will be discussed in detail to define the parent company and it's subsidiaries to illustrate the success of the company and its endless possibilities.The financials of Virgin and its outlook will also demonstrate the success of the organization and how the flight schedules and alliances with other airlines has allowed Virgin Atlantic Airlines to access passengers from around the world.The marketing techniques and how Richard Branson has "branded" his product will also be discussed so that a clearer understand of the man behind the dream can be found. The ideas that Richard believes in, are understand what customers are looking for and what they want so that they will travel on Virgin Atlantic Airlines again.The History of Virgin Atlantic AirlinesVirgin Atlantic Airlines was introduced by Richard Branson in 1984. Richard Branson began his entrepreneurial success at the early age of 12 selling Christmas trees while still in school. Shortly after graduation, he began one of his many successes, a national magazine titled Student. The magazines format was to identify and discuss "all shades of opinion of all beliefs and ideas." The magazine centered on somewhat controversial issues to create interest amongst its readers. Richard Branson used this platform to create and chair one of the most successful companies in British history.In 1970, Branson founded and developed a mail-order record business which he called "Virgin" to exploit his own innocence and lack of knowledge about the business industry. At this time, little did he know, he actually knew more than he gave himself...

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