BSBMKG402B Analyse Consumer Behaviour for Specific Markets Essay

Words: 2236
Pages: 9

Analyse Consumer Behaviour for Specific Markets

Your task is to gather information on the market segment for this product, analyse consumer behaviour within this segment and recommend what marketing strategies Virgin should develop to appeal to this market segment. This must be written in report form.
1. Gather information on the market or market segment for Virgin Hotels in accordance with Virgin’s marketing plan.
a. List the sources of information you used to gather information.
• This must include at least five (5) sources of information.
• Please reference each source in strict accordance with

Imagine Education Guidelines for referencing.
b. Prepare a basic customer profile/
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2. “What is your preferred way of contact?”. Sms/Email/Post…
3. “What is your preferred frequency of contact?”. Daily/Weekly…
CTR (Click-Through-Rate) of the links offered in a promotional email is a good way of understanding the customers’ response and specific interests.
2. Consider Virgin’s Vision and Brand Personality.
a. Explain how this relates to the marketing strategy for Virgin

b. Explain how the following two (2) factors will be emphasised in the marketing strategy for Virgin Hotels:
• Benefits
• Features
I believe Sir Richard Branson’s desire to offer great value for money is reflected in his intention to integrate Virgin’s frequent flier program members into the hotel project. Not only Virgin Hotels will acquire a huge consumer database, but it will also give consumers a great way to save money through combined offers. However, I think the “give customers good value and high quality” policy collides a bit with their targeted consumer, who is "the high income, well-educated, metropolitan 'creative class'". What if you are not wealthy and stylish?
As for the willingness to be perceived as always creative and innovative, I am sure Sir Richard Branson will come up with many other ideas along his career.
For example, in 2005 he commissioned a study about energy drinks (Virgin
Vibe). Such product would target young males who are into sports and video games (i.e.: RedBull). The competition from other brands was probably too