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Business Practice Explored - Assignment

   

Added on  2020-12-31

11 Pages3393 Words415 Views
BUSINESS PRACTICEEXPLORED

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Marketing Strategy of nighteve party.........................................................................................1Human resource requirements.....................................................................................................3Financials....................................................................................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONBusiness practice is replicated as a tactic or activity of business which is basicallyconducted for attaining the goals. It is way for attempting to perform business in very effectivemanner as any organization might have presence of rules of business practices to ensure aboutemployee efficiency in work and abiding through applicable laws. The present report will givebrief description about nighteve party which will be organised at Metro Bar, Luton Campus withcapacity of 200 people. It will be articulating about marketing strategy with support of marketingmix of nighteve party as of Product, Price, Place and promotion. Further, it will reflect humanresource requirements with its major staff members such as General manager, food andbeverage manager and many more with their roles and responsibilities towards event. Last butnot least, it will provide specification of financials and cost engaged in Metro bar and break evenpoint is also extracted with its concept.Marketing Strategy of nighteve partyMarketing strategy is considered as section of business which outlines overall game planfor extracting customers and clients for business. It lays special emphasis on what to attain formarketing and business efforts.Product/ Service: The nighteve party is referred as service as it should customiserequirements of people to attract them. It signifies all ancillary activities which must undertakeprior, during and after even as it considers pre-event media days, promotions and contest onsocial media pages and websites, event day registration process, gift bags, food andbeverages, awards and recognition. It will be offering products like cocktails and mock-tailsalong with services like bottle service, guest list along with coat check. It could outcome incustomer experience at establishment in successful establishment. The importance of theseservices are qualitative as compared to quantity where alcohol is offered within limit. Theservices are at top-notch as it will help for returning customer along with good tips or about itsemployees for undertaking share in business (Hopp and Greene, 2018). With this context, word of mouth is very effective pertaining to business as its servicesare terrible then customer will be sharing its experience to its friends and relatives where wordof mouth spread in fast aspect. On the contrary, good reference is also considered as key forestablishing reputation. In addition to this, there will be casual food menu which comprisesappetizers along with small entries with range in affordable cost and it will be offering fresh hotStarbucks coffee. It will be hosted by DJ Ben Loren which will feature an innovative brandinnovative stage show, luxurious VIP booths and sound system which considers seven newdance floor booths.1

Price: It is a very essential element in marketing mix with context of nighteve party as itimpacts reaction and thoughts with perspective of consumers. The price of drink is not veryexpensive with alcohol amount which is served. It should be satisfied and absence of feeling ofripped to come back for one another. There must be consideration of level of demand of itsproducts as its availability of ticket for £8 through Metro Bar and Kitchen or throughwww.bedssu.co.uk. In the similar aspect, this will be following bundle pricing as package ofgoods and services will be sold at lower price as compared to consumer will buy themseparately. This strategy will help them for increment in margin by providing discount (Clubnight even at Metro bar, 2018).As there is maximum capacity of 200 people, where usually everybody comes in groupand even they purchase products in groups which usually aggregates value to experience ofbuying. It will lead to enjoyment in versatility in single act of buying, grateful cost and timesaving and most important is that avoid frustration during selection of complimentary productswith consumer perspective. However, this will provide advantage in terms of getting wholeinformation as whole to its audience as it will build winning pricing strategy for purpose ofbundled products where businesses has requirement of coupling up to date data with context ofmarket with data on context of consumers.Place: It is very critical about establishment of good location which is highly attractive tonumerous consumers which helps in repeating customers. This event will be organised at TheMetro Bar & Kitchen which is considered as great place for socialising through friends, catchingup on similar coursework or for undertaking well deserved lunch break. Henceforth, this eventwill be organised at night which could be based on themed and consists of delicious snacks andStarbucks coffee. Simultaneously, clean place is sign of warming and better feeling to givesatisfaction to their clientele along with presence of air conditioning because no one likes to besweating and sticky during interaction with opposite gender (Van der Wagen and White, 2018).There will be attainment of competitive edge with presence of larger ladies room areawith place of additional square footage contributing to venue such as couch, music, TV andhuge social space. It has been researched that females are highly observant of design withimpression conveyed by males. Henceforth, careful consideration will be included from fabrics,colours and materials. There will be stage show hosted by DJ Ben Loren which will feature thisevent in innovative aspect.Promotion: It had played essential contribution in this event as effective and attractiveadvertisement related to organization and nighteve party. It is used for attracting various types2

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