1.0 Introduction 引言
Virgin Money，個人金融服務公司，由常年創業者Richard Branson先生創建，母公司Virgin Group的標志性紅顏色旨在體現時尚和金融穩定（英格蘭，2014年）。此外，由于抵押貸款銷售強勁，Challenger Bank Virgin Money的年利潤增加了一倍多，并將達到在本月底輸入富時250指數（Dunkley，2015年）。然而，根據英國競爭與市場管理局（Competition and Markets Authority）的數據，英國四大銀行業巨頭——勞埃德銀行集團（Lloyds Banking Group）、蘇格蘭皇家銀行（Royal Bank of Scotland）、巴克萊銀行（Barclays）和匯豐控股（HSBC Holdings）——占英國個人經常賬戶的77%，這是英國新的競爭和消費者監督機構。根據CMA的數據，四大銀行還控制著英格蘭、蘇格蘭和威爾士350萬商業往來賬戶的80%，以及北愛爾蘭的90%。在英國，只要客戶保持其賬戶為黑色，沒有透支，經常賬戶通常是免費提供的。英國金融市場仍存在競爭。因此，本文擬從理論模型和當代文獻入手，對維珍的營銷策略進行深入分析，探討數字營銷的方法，探討品牌經營的倫理價值，探討品牌影響力。
Virgin Money, Personal Financial Service,founded by perennial entrepreneur Sir Richard Branson, the signature scarlet hue of parent Virgin Group aims to connote both hipness and financial stability(England, 2014).In addition,Virgin Money, the challenger bank, has more than doubled annual profits on the back of strong mortgage sales and is set to enter the FTSE 250 index at the end of the month(Dunkley, 2015). However, The U.K.'s four biggest banking incumbents -- Lloyds Banking Group, Royal Bank of Scotland, Barclays and HSBC Holdings -- account for 77 percent of the nation's personal current accounts, according to the Competition and Markets Authority, the U.K.'s new competition and consumer watchdog. The Big Four also control 80 percent of the 3.5 million business current accounts in England, Scotland and Wales, and 90 percent of those in Northern Ireland, according to the CMA. In the U.K. current accounts are typically offered free of charge as long as customers keep their account ledgers in the black, with no overdrafts.There is a still competition in the UK financial markets. Therefore, this essay would like to focus on the thorough analysis on the Virgin Money on the marketing strategy according to the theoretical models and contemporaryliterature, examining the digital marketing approach, exploring on the ethical value on the brand operation and discussing on the brand influence.
2.0 Theoretical models and contemporary literature 理論模型與當代文學
SWOT, PESTLE and Porters Five Forces analysis SWOT、研杵和搬運工五種力分析
SWOT analysis is based on the situation of internal and external environment and conditions. S (strengths), W (weaknesses) are internal factors, O (opportunities), T (threats) are external factors (Srdjevic et al,2012).It is to research and compose a list the major internal advantages and disadvantages, external opportunities and threats in a matrix form, so that all the major aspects could be analyzed as pairs. Then it makes that to draw a conclusion on the series of appropriate conditions to help management level to make decisions. Business strategy should be a comprehensive combination of the internal strengths and weaknesses such as “what we can do", and external opportunities and threats combination under the overall concept of competitive strategy. Using this approach, a comprehensive, systematic, accurate research can be developed on the basis of research, planning and development strategies appropriate countermeasures.
pestle analysis（見圖1）是這六個類別的縮寫，它綜合分析了一家公司的情況（Zalengeraet al，2014）。它們是：政治、經濟、社會、技術、法律和環境。SWOT分析與研杵分析相結合，對多個維度進行了更深入、更準確的分析，因為每個重點都涉及不同的關鍵方面。PESTLE analysis, see Figure 1, is the abbreviation of initials of the six categories, which analyzes a firm’s conditions in a comprehensive way (Zalengeraet al, 2014). They are: political, economic, social, technological, legal and environmental. The combination of SWOT and PESTLE analysis provides further and more accurate analysis on multiple dimensions, since each emphasis and covers different key aspects.
Porter's five forces model, see figure 3, gathers and analyzes a lot of different factors together in a simple model, in order to analyze the basic competitive dynamics of an industry. Five forces model identifies five main sources of competition, including suppliers and buyers bargaining power, the threat of potential entrants, threat of substitutes, and finally, competition from among companies in the same industry.In any industry, whether domestic or international, whether the production is products or services, the competition law will be reflected in the five competitive forces. Therefore, Porter's five forces model is a strategic analysis tool companies develop competitive strategies often use.According to Vorthman (2008), SWOT focuses on the positive and negative factors of both internal and external, and on the other hand, PESTLE is able to cover and analyze more aspects. As can be seen in the Figure 1 and 2, the combination of the SWOT and PESTLE analysis can be used. Meanwhile, Porter's five forces model is able to cover the marketing and completion situation. Therefore, the comprehensive analysis combining SWOT, PESTLE and Porter's five forces will illustrate the situation clearly.
Figure 1: the SWOT and PESTLE analysis
Figure 2: the framework of PESTLE and SWOT analysis.
Figure 3: Porters Five Forces
Political: The UK has created a single financial regulator to control the bank, security and insurance.In addition, the government of the UK has replaced the central bank as a bank regulator. Therefore, the UK government encouraged the development of the financial institution.
Economic: The UK economy will grow by 2.4% in 2015, well below the 3.1% growth expected this year. Therefore, Virgin money should make the strategy on the slowed development economic.
Social: English is the official language, however, Scots used by is 59.5%, Muslim is 4.4%, Hindu is 1.3%, other is 2%, none is 25.7%, and unspecified is 7.2% in the UK (CIA, 2015). In addition, the population of the UK is 63,742,977 (CIA, 2015). Therefore, also should maintain for main language, and could focus on neutral service without stimulate relation.
Technological: The Big Four also control 80 percent of the 3.5 million business current accounts in England, Scotland and Wales, and 90 percent of those in Northern Ireland, according to the CMA. In the U.K. current accounts are typically offered free of charge as long as customers keep their account ledgers in the black, with no overdrafts.There is a still competition in the UK financial markets. Therefore, Virgin money had limited space for saving accounts.
Legal:The biggest reforms to the UK banking sector in a generation become law on the respective of the supervision, structure, culture and competitions. Therefore, the perfectly legal could offer a safety and fair environment.
Environment: The UK’s current issue of financial environment is as low as the interest rate in the level of 0.5%, which is keep unstill up to the six years. Therefore, environment is not good for the saving accounts.
? Highly capable and efficient parent company
? Can explore into other banking divisions like priority banking, etc.
? Offers a wide range of financial products due to which they add more and more customers every year
? Advantage of being under a famous conglomerate
? Supervised by Prudential Regulation Authority
? Offers services like Finance, Banking, Mortgages
? Little presence in few countries other than UK
? Not a listed company and hence it would become difficult to raise capital