Virgin Media Marketing Strategy & Marketing Mix (4Ps)
Published in Services category by MBA Skool Team
Marketing Strategy of Virgin Media analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Virgin Media marketing mix, help the brand succeed in the market. Let us start the Virgin Media Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Virgin Media marketing strategy can be explained as follows:
Virgin Media is a leading service provider of broadcasting and telecom in UK. Virgin Media has a wide portfolio in its marketing mix product strategy and it offers following services:
• Bundles: Player bundle, fun bundle, movie bundle
• Broadband: Broad band packages, broadband for gamers
• TV: Movies, sports, Offers
• Phone: Phone packages, calling features, phone for business
• Mobile: phones and devices, SIM
• Entertainment: Music, Movies, TV, games, sports
Virgin Media Price/Pricing Strategy:
Below is the pricing strategy in Virgin Media marketing strategy:
Virgin media offers low prices for its low involvement products for example broadband, TV, phone packages etc. Here they make lower margin but earn high revenues through economies of scale as they are targeted towards mass markets.
Here Virgin Media follow competitive pricing strategy. For niche markets such as broadband for gamers and entertainment packages, prices are charged higher and they earn higher margins on these offerings. The services of Virgin Media given to niche customers are better than the conventional ones. It offers free WhatsApp messaging and fast 4G mobile internet.
Following is the distribution strategy in the Virgin Media marketing mix:
Virgin Media has various outlets trough which its customers can buy its products and services. On its website, Virgin Media has an option of locating the store closest to you for the convenience of its customers. You have to enter the pin code and you can find the address of the outlet closest to you. It also has a feature of buying its services online through its website. In such cases, the company personal will come and deliver the products or services at the required address. It also makes of retailers worldwide to sell its products.
Virgin Media has an extensive distribution channel to make its products available across the globe.
Virgin Media Promotion & Advertising Strategy:
The promotional and advertising strategy in the Virgin Media marketing strategy is as follows:
Virgin Media is mostly targeted at the youth. Hence it comes up with creative forms of promotions. The marketing mix promotional strategy of Virgin Media can be shown as below:
• It comes up creative TV advertisements to keep its target group aware of its latest products and offerings. The advertisements are creative and targeted at the youth.
• It also indulges in excessive digital and social media marketing. Search Engine Marketing and Search Engine Optimization are given prior importance to have a competitive advantage over its competitors. They advertise on other relevant pages.
• They come with creative blogs and user content to engage with its customers.
• They heavily advertise on YouTube.
• Various discounts and offers are given especially during the festive periods.
• Pages on Facebook, Twitter and LinkedIn
• Three-year partnership with Southampton Football Club.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Virgin Media.
Virgin Media looks at the passion and spirit of its workforce. Its employees are given flexible timings and are allowed to take holidays whenever they want. Virgin gives special emphasis on creativity and the employees are highly motivated for out of the box thinking. Virgin Media organization has a casual work culture. Special awards and recognition are given to the outstanding performers thus motivating other employees. The employees come from diverse backgrounds and fields. The belief is that highly satisfied employees lead to highly satisfied customers. There are special benefits given to all its employees. Josh Bayliss is its current CEO.
Virgin Media invests a lot in the latest technology. It is in the process of automating everything. It has evolved a lot from cassettes and CD’s to the latest technology. The deliverables to its customers are instant and of high quality thus leading to increase in customer satisfaction. Virgin Media's major target segment is the youth an all its offerings are designed to satisfy the requirements of this segment.
Virgin Media offices are highly modern and highly creative. The website is designed very well with easy user interface. All its products come with exclusive packing which emphasizes quality. The services are designed according to the customer needs. Relevant papers and invoices are provided to its customers for further use. The broadband is of great speed with less disruptions and the TV and entertainment services are of HD quality. Hence, this summarizes the Virgin Media marketing mix.
About Virgin Media:
Virgin Media is a British company which provides mobile, TV and broadband service. It has approximately 4 million cable customers, 4 million broadband customers and 4 million with fixed telephony services.
Virgin Media has an annual revenue of around $4 Billion Dollars. Its major competitors are BT Group, Cable and Wireless worldwide and SKY PLC.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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