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Virgin Group - Essay Example

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The importance of brand to a product has been universally recognised. For any business, the market place is the ultimate testing ground of success or failure. It is the sum total of customers, who make choices of available offerings to satisfy a real or perceived need. …
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Virgin Group
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Download file to see previous pages Sir Richard Branson (Branson), creator of the Virgin Group, has invested his ventures with that unique brand power which has no parallel anywhere – not even Microsoft and Bill Gates. The uniqueness lies in the extension of the persona of Branson into his products. Starting with the very name of his first business venture in 1972 and the people associated with it, he chose to play the game in an unconventional way. ‘Inexperience in business’ was not a handicap; instead it was turned into a brand name ‘Virgin’ with the abandon of a veteran. Youth and enjoyment was the platform that led him to the music business; brashness and self-confidence led him to retain music rights, in contrast to the established practice, and, adventure so typical of youth, led to his foray into aviation. Virgin’s metamorphosis from a mere record selling stores to a top-level music and movie production company took a mere decade and in the process the group made handsome profits. Surprising everyone and shocking the giant commercial airlines, Branson pioneered the revolution in air travel when he set up the Virgin Atlantic Airways, a quality air travel alternative across the Atlantic, at highly competitive prices! The same spirit of youthful adventure and innovative thinking made Virgin a brand to recon with in a variety of consumer products across the globe. From his interview to the Forbes magazine (Feb. 1, 1997) one gets a glimpse of Branson’s philosophy on business diversification, “…And it is so great being in so many different businesses. That is the fun of it.” ...Download file to see next pagesRead More
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