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Transcript of VIRGIN
DOES ANYONE KNOW RICHARD BRANDSON? Created in 1970
Founder: Richard Branson
It started being a music shop
It has been growing for 40 years
Today, Virgin is one of the biggest business group About Virgin... TIME LINE OPENING OF THE FIRST BUSINESS: A MUSIC STORE 1970 1973 OPENING OF THE SECOND MUSIC STORE CREATION OF THE FIRST RECORD 1971 CREATION OF VIRGIN ATLANTIC 1984 VIRGIN HOLIDAYS 1985 VIRGIN RECORDS AMERICA 1987 VIRGIN
MEGASTORES 1985 VIRGIN EXPRESS 1996 VIRGIN TRAINS 1997 VIRGIN MOBILE 1999 - Virgin's most important company
- Singapore Airlines bought the 49% of the company in 2000
- Is the most profitable company (£123m. in 2009)
"A 'cheeky entrepreneur' who has battled the mighty monopoly of British Airways" VIRGIN ONE 2000 VIRGIN
MONEY 2010 VIRGIN EARTH 1999 2007 BRAND IMAGE DIVERSIFICATION INTERNATIONALIZATION VIRGIN STRATEGY - The main strategy since 1980 to 2000
- Different service sector:
Food and drink - Main strategy since 2000 to nowadays
- Exception: Virgin Megastores in 1988
- Brand Image
- Virgin is used to do joint ventures (they didn't
create a new company)
- Virgin is present in all the continents
http://www.virgin.com/company BUSINESS IMAGE CUSTOMER IMAGE To give a image of a more responsable company Virgin = "Fun, innovative, daring and successful" ANSOFF MATRIX THE VALUE OF THE VIRGIN BRAND In their joint ventures, they always choose the brand Virgin, not the brand of the partner
At last, there is a "sub-brand"
RICHARD BRANSON BOSTON CONSULTING GROUP ANALYSIS WHY THEY DON'T LEAVE THE BANK
BUSINESS? In words of Richard Branson:
"I pursue growth, not profits, and builds companies for the long term" SECRET STRATEGY? GET FUNDING WHY HAS THIS SUCCESS BEEN POSSIBLE? - Positive brand image
- Good customer treatment
- They offer qualities that their competitors can't Competitive Advantage AND NOW? Richard Brandson's departure
New challanges for the future CEO:
Maintaining brand image
How to increase the company's size? HOLIDAYS in the SPACE?
25 years promotion video "Create something you're proud of" PENETRATION STRATEGY