Problem1. Richard Branson launched Virgin Atlantic Airways to take on overpriced British Airways. The first Virgin flight, on June 22, 1984, took off loaded with celebrities and media. The flight came equipped with waiters in white ties and tails, and free-flowing champagne. The airborne party enjoyed international press coverage. Branson knew that photographers have a job to do and they had turn up at his event if he gave them good reason to.
Question1. Determine the type of promotional tool employed in the above conditions and elucidate its advantages.
Question2. Apart from the promotional tool used by Richard Branson in the above scenario, identify the major tools in the marketing communication mix and discuss their benefits. Support your answer with appropriate examples.
Problem2. Southwest Airline grows by entering new markets that are overpriced and underserved by current airlines. The company believes it can bring fares down by one-third to one-half whenever it enters a new market, and it grows the market in every city it serves by making flying affordable to people who previously could not afford to fly.
Question1. Elucidate Ansoff’s product-market extension grid and explain its significance for Marketing Managers.
Question2. Using Ansoff’s model, identify and describe on the growth strategy used by Southwest Airline.