Market and Product Development Plans for Virgin Holidays

This presentation discusses the overview of Virgin Holidays, their goals to enhance customer experience and preserve the world, and their plans for market and product development. Ansoff matrix is used to outline the strategies they can adopt for growth.

Overview of Organization
Virgin Holidays is the part of the
well-known Virgin Group. The brand
is known for providing exceptional
experience to the customers since
beginning.
Vision of Organization and
briefly explain the values that
support vision
The vision of the organization is to
preserve the world for future so that
everyone can enjoy. For this
purpose, they aim to make positive
contribution to help local people
and tourists to enjoy the
destinations.
This responsibility is towards
economy, environment, culture and
society. As a travel company, they
have the responsibility to protect
the planet and facilitate such habits
which makes the destination
incredible (Responsible Tourism,
2021).
•Plans for market and product
development
•Nowadays the competition is really high
in every industry. In this situation, it is
important for an entity to make necessary
improvements in their product or
services. Now, it is not possible to get
success while working in the existing
market with existing product or serviced.
•Market penetration: It is one of the
easiest strategies to stay in the existing
market with existing product. There is no
requirement to make changes in the
product or service.
•Market development: Under this, the
existing product is launched in a new
market. Here, product is existing but the
market is new. Before entering into a
new market, it is required to get
knowledge of the market in a detailed
manner (Joung and et. al., 2018).
•Product development: It is a strategy
where new product is introduced in the
existing market. There is requirement to
stay careful while developing a new
product as it might change the existing
positioning of the company among the
customers (Gao, Cui and Cohen, 2021).
•Diversification: It is the one of the
most riskiest strategies wherein products
and market both are new, Here, a new
product or service is launches in new
market. There is requirement of huge
investment to bring diversification in
business (Li, Ryan and Sun, 2017).
goals of organization
To enhance the customer experience
in order to gain higher amount of
profit efficiently.
To preserve the world for everyone
to enjoy and to make positive
contribution to help the local people
and tourists to enjoy the
destinations.
•References
•Holmberg, J. and Sandbrook, R., 2019.
Sustainable development: what is to be done?.
In Policies for a small planet (pp. 19-38).
Routledge.
•Gao, F., Cui, S. and Cohen, M., 2021.
Performance, Reliability, or Time‐to‐Market?
Innovative Product Development and the
Impact of Government Regulation. Production
and Operations Management, 30(1), pp.253-
)
The past operations of the
organization
During the initial days, Virgin Holidays
used to provide offer order services.
Since the beginning, the company started
to grow rapidly due to the viable and
exciting business idea. In addition, the
good decision of the management team
of Virgin were also responsible for the
growth and development of the company.
The company is exploring the new
opportunities constantly which helps
them in market enlargement. In addition
to this, they ensure to provide quality
products that is important in order to gain
the attention of large number of people.
Virgin deals with the transportation
facilities and also provides the holiday
facilities to the individuals. Virgin Tour is
the greatest development of the
organization which offers travelling and
accommodation facilities to the
customers.
Impact of operations on environment and CSR
activities of the chosen organization
In the present Era, Virgin Holidays is facing
tremendous operational issues due to the ongoing
pandemic. The COVID-19 affected the entire
tourism industry hence the respective company also
get affected. They witnessed a deep decline in the
number of bookings which minimize the overall
sales and profit margin of the organization. In
addition to this, it also created a disruption in terms
of availability of raw material and other necessary
equipments to maintain consistency in business.
Currently, it is important for every company to
follow necessary sustainable practices. It is
important to maintain a positive image in the
market place. For this purpose, there is requirement
to follow the sustainable practices which have a
positive influence on the environment (Holmberg
and Sandbrook, 2019).
Title and Student names/ID/ Tutor name

Overview of Organization
 Virgin Holiday offers holiday pancakes at different destinations such as United states of
America, UK, Africa, middle east and more. Richard Branson is the founder of the
company. It was founded in the year of 1985.
 It was founded in the year of 1985. The employees of the company do their best in order
to serve the customers in an efficient manner. Further, they prefer to provide valuable
experience to the customers which sets their unique identity in the industry.
 The Virgin travel group comprises Virgin Atlantic airways, Virgin Hotels and Virgin
Voyages (VirginHolidays, 2021). This huge portfolio helps the company to ensure long-
term sustainability and growth in the competitive industry.

Goals of organization
Short-Term goals:
 To enhance the customer experience in order to gain higher amount of profit efficiently.
 To improve the profit margin in order to strengthen the competitive position.
Long-term goals:
 To preserve the world for everyone to enjoy and to make positive contribution to help the
local people and tourists to enjoy the destinations.
 To make positive relationships with the customers by providing them opportunity to take
on the world regardless their status, region and other such factors.
 To make the leader in the travel industry by creating travel experiences and memories for
customers.

Plans for market and product development
 To understand the market and product development in context of Virgin Holidays, Ansoff
matrix is outlined below:
 Market penetration: Here, the companies are likely to provide different offers in order
to retain the customers for longer duration (Dias and Lages, 2021). It is not advisable for
Virgin Holidays to adopt this strategy due to the ongoing level of competition in market.
 Market development: In context of Virgin Holidays, it is a well-known brand that has
wide presence globally. Currently, the company has significant presence in the European
countries. Expansion of business in more countries will allow the entity to earn higher
amount of profit in an efficient manner.
 Product development: In reference of Virgin Holidays, they have a large portfolio of
travels, hotels and more. They have Virgin Atlantic to provide travel facilities. On the
other side, they also provide accommodation facilities through the presence of ample of
number of hotels at different locations.
 Diversification: In context of Virgin Holidays, they can also diversify in order to earn
huge amount of profit in an efficient manner. Through diversification, the organization
can easily earn substantial amount of revenue in significant manner.

References
 Books and journals
 Joung, J., Jung, K., Ko, S. and Kim, K., 2018. Customer complaints analysis using text
mining and outcome-driven innovation method for market-oriented product
development. Sustainability, 11(1), pp.1-14.
 Gao, F., Cui, S. and Cohen, M., 2021. Performance, Reliability, or Time‐to‐Market?
Innovative Product Development and the Impact of Government Regulation. Production
and Operations Management, 30(1), pp.253-275.
 Li, Z., Ryan, J.K. and Sun, D., 2017. Selling through outlets: The impact of quality,
product development risk, and market awareness. International Journal of Production
Economics, 186, pp.71-80.
 Online
 Responsible Tourism, 2021. [Online]. Available at :<
https://www.virginholidays.co.uk/responsible-tourism/>
 Virgin Holidays, 2021. About Us. [Online] Available at :<
https://www.virginholidays.co.uk/who-are-we/overview/>