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Other companies can apply Richard Branson's business strategies to their own industries by focusing on customer delight, just as Branson did with Virgin Atlantic. This can be achieved by identifying gaps in the market, particularly in areas where customer satisfaction is low, and tailoring products or services to fill these gaps. Additionally, companies can strive to offer more choice and better pricing, as Branson did when he challenged the expensive and limited options in the airline industry. Finally, companies can continuously innovate and adapt to changing market conditions to stay competitive.
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When Richard Branson started Virgin Atlantic in 1984, the airline world was largely expensive, lacking in choice, and put very little emphasis on customer satisfaction. In fact, Branson started Virgin Atlantic because he himself was an unsatisfied customer with a canceled flight. By 2000, Branson transformed his business from a single leased Boeing 747 into a multi-airline empire worth at least $1.2B. How did Virgin compete against so many legacy competitors that already dominated the market? Branson's focus on customer delight.
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