Marketing Strategy Analysis of Penguin Event Company

This assignment examines the marketing strategy employed by Penguin Event Company, a UK-based event management firm. The student analyzes how this strategy has contributed to the company's success, focusing on aspects like target market identification, pricing strategies, brand image, and collaborative efforts. Personal reflections on communication challenges faced during group work and future development goals are also included.

Running head: REFLECTION
Individual reflective piece
Name of the Student
Name of the University
Author Note

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The assignment that we have done is mainly a group assignment, which our group has
done considering the company named Penguin Event Company based in United Kingdom.
Therefore our topic for the assignment we made were to consider the marketing strategy and
analyze that how that marketing strategy adopted by our chosen organization have helped or
restricted their success. Marketing strategies have several benefits, which I came across while
making this assignment is it actually assists to create the services or the product offered by
the organization to acquire the best possible chances to make profit, thus, helping in product
development. The outcome of a market research that is done by a company before taking up a
market strategy is that they learn to set up appropriate pricing for the products or services
they are offering (Baker 2014). This will further help the organization to create a brand image
in the market among the competitive brands and lastly, opting for a marketing strategy helps
the departments to work together with more cooperation because they know that they are all
working for the same goal (Yeoman et al. 2012).
However, in this assignment my contribution was to find the target market and
analysis whereas my other teammates concentrated on finding the five major events that this
event management company has been associated. As my part was to do the research for
identifying the target market of this company, thus doing this assignment my concepts got
clearer that why it is important for companies to identify their target market. Therefore, I
came to know that target market has many advantages; if the target market is selected then an
organization can easily make the messages or slogans than can be very much fruitful
especially to those consumers in their target market. Then, it is not possible to reach each
customer individually with the message associate with the product or services thus, when
target market helps the organization to attend especially those consumers who are more likely
to avail their services or buy their products. Therefore, target market helps reach the right
consumer without much effort and waste of time. Lastly, a target market plan will also help in

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saving money and gaining a better return on the company’s investment. Therefore, any type
of business is it small or large can effectively serve their target market if they can identify
their under-served market (Stahl et al. 2012).
Moreover, the difficulties that I had to face while doing this assignment is that there
were lack of communication among the team members for which we were unable to start our
work in the first week. However, I took up the initiative, created a chat group taking the help
of the social media, and started to divide the work among the group members. After taking
this initiative in the last two weeks just before the submission, we were able to work to
complete this assignment. An important lesson I learnt by facing this difficulty that how
important communication is when a group work is done because communication is effective
then it highly guides for a productive team development. Communication is highly
responsible for success or failure of the teamwork that we are bestowed with and therefore,
communication among team members is very much necessary for better productivity (West
2012). What I felt is that if there was not any lack in communication then we could have
invested more time in doing the analysis and research work for doing this assignment.
However, after completing this assignment I felt that this would surely help me in my career
development in my future as I can utilize these in practical situations at my workplace.
The actions that I have planned to take for my development in future can be explained
in SMART goal plan, which I have made for myself. Here Specific is that as I want to
become an event manager thus, I need to push myself to remain calm under pressure. This
can be measured by the success or failure that my work, which has been done under stressful
situation, will come up with. If I master this quality then definitely, I will be more confident
in doing my work under pressure. However, this can be achievable if I can stay positive and
develop a coping strategy. This is relevant for me as I am studying event management thus,

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for my career this is an important goal, which I should master. Lastly, I need to 6months time
for this.

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References
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Stahl, F., Heitmann, M., Lehmann, D.R. and Neslin, S.A., 2012. The impact of brand equity
on customer acquisition, retention, and profit margin. Journal of Marketing, 76(4), pp.44-63.
West, M.A., 2012. Effective teamwork: Practical lessons from organizational research. John
Wiley & Sons.
Yeoman, I., Robertson, M., Ali-Knight, J., Drummond, S. and McMahon-Beattie, U. eds.,
2012. Festival and events management. Routledge.