Assignment on Marketing For Business

Marketing for Business

Table of Contents
INTRODUCTION...........................................................................................................................1
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing is termed a philosophy within which firms are required to effectively analyse
needs and demands of consumers and them formulate decisions as to offer products and services
in order to effectively satisfy their needs (Baker and Magnini, 2016). In simple words concept of
marketing is related to promoting products and services in a particular target market through
wide range of marketing channels. Thus, in order to attract attention of large base of customers
organisations are required to undertake advantage of numerous form of marketing techniques,
tools and approaches in order to set clear objectives and marketing vision. It has been seen that
there is increase in competition of music festival sector in recent year from smaller local
festivals. In order to gain more competitive advantage local festival organisers are required to
take use of best effective form of marketing plan which is being defined in this report.
Marketing theories
The Marketing Mix
Marketing mix acts as a tool that can be undertaken by small scale local event organizer
as to offer products and services in best effective manner (Bai and Chang, 2015). The 4Ps have
been associate with the marketing mix which is further being elaborated below:
Product:
It has been seen that music festival is growing popularity in UK that further lead towards
increase in competition in this sector from smaller local festivals. For this it is essential for local
small scale festival organisers to offer services to customers that fit every age group
expectations.
Place:
It is essential for organisers to organize their event from where every target consumer can
have easy access. In UK organizers can take advantage of the places like, High Street, Hop Farm
Family Park, Gibson Hall London and more.
Price:
Organizers are required to offer their services and event tickets that represent good
value for money. It has been determined that, individuals in UK mainly prefer to may more for
something that really allure them. Thus, it is essential for organizers to attract customers with
best effective and attractive services.
Promotion:
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As being rise in competition, it has been analysed that it is essential for organizers to
attract customers with the help of various promotion methods can be via PR, Advertising, Digital
marketing, Social media and other key essential communication tools. With the help of this they
can effectively able to convey correct messages to audience.
SWOT Analysis
Organizers can take effective advantage of SWOT analysis as to determine strength,
weaknesses, threats and opportunities. With the help of this they can gain more competitive
advantage while ensuring high growth:
Strength:
Organizers of event are required to analyse their core strength and further make strategies
to increase its effectiveness. In addition with this, it is essential for them to have skilled
workforce as to contributes towards their core objective. It has been analysed that Local event
organizers have strong alliances and connections with the help of which they can attract large
base of customers.
Opportunities:
Small scale local event organizers in order to gain advantages are required to take use of
digital technology. In this modern technologically advanced world digital technology play key
essential role through which large base of customer attraction can be gained.
Weaknesses:
It has been seen that organizers have lack of trained workforce that may hamper their
functioning. Thus, they are required to formulate strategies as to offer training to employees as to
increase their effectiveness.
Threats:
Due to Brexit possibilities there are numerous set of new legislations framed by
government that may later damage their interests. Further economic cycle of UK may also lead
towards creating many obstacles. In order to overcome this organizers are required to have stable
economic support as to effectively operate their business in cost effective style.
Thus, as per the above mentioned discussion it is essential for Local event organizers to
turn threat into opportunities and weaknesses into strength as to gain more competitive
advantage as compared to their competitors.
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Advantages and Disadvantages of Marketing techniques
Marketing techniques is termed as method with the implementation of which organizers
can effectively able to promote their services and event to target audience. Thus, it is essential
for Local event organizers to develop effective marketing strategies for growth, long term
success and expansion. Mentioned below certain advantages and disadvantages of marketing
techniques include:
Advantage: Promotes Business to Target Audience
With the help of marketing techniques Local event organizers can select target customer
base and can further analyse their behaviours, habits, needs and wants. With the help of these
informations they can able to promote their event. For this they can undertake use of social
media platform as to effectively promote growth of their business.
Advantage: Helps to Understand Customers
Marketing techniques aid Local event organizers to conduct research and gather
necessary required data and informations that further aid them in their product and service
development. With the help of this they can understand behaviour of their target audience with
the help of which they can gain more competitive advancements as compared to rivals.
Disadvantage: Cost of Marketing
Small business is still at a disadvantage, when it comes to grabbing their share of eyeballs
through their marketing efforts. It has also been seen that in order to conduct marketing
campaign on website can also be expensive.
Disadvantage: Time and Effort May Not Yield a Return
For being small local event organizers it is essential to spend months to craft strategies as
to gain return on investment (Achrol and Kotler, 2012). Further it has been analysed that most
well-planned marketing campaigns fail, and at the small business level, that can set you back for
months.
Impact of Culture Differences on effectiveness of marketing messages
It is essential for small local event organizers to effectively analyse culture of individual
in UK, within this they are required to analyse age range, religion, income group as to effectively
ensue that their marketing have great possible return. As it has been seen that culture differences
may negatively impact on marketing messages that further restrain their growth. It has been seen
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that UK have citizens that make purchasing decisions mainly based on personal preferences.
Thus, it is essential for organizers to frame map as to effectively analyse culture. As it is
unpredictable and may impact on business in numerous ways.
CONCLUSION
As per the above mentioned report, it has been analysed that is essential for small scale
event organizers to undertake use of marketing techniques and strategies in best effective
manner. As with the help of this they can able to attract large base of customers. In this report
advantages and disadvantages, SWOT and Marketing Mix is being included.
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REFERENCES
Books and Journals
Achrol, R. S. and Kotler, P., 2012. Frontiers of the marketing paradigm in the third millennium.
Journal of the Academy of marketing Science. 40(1). pp.35-52.
Aschemann-Witzel, J., de Hooge, I. anJd Normann, A., 2016. Consumer-related food waste:
Role of food marketing and retailers and potential for action. Journal of International
Food & Agribusiness Marketing. 28(3). pp.271-285.
Bai, X. and Chang, J., 2015. Corporate social responsibility and firm performance: The
mediating role of marketing competence and the moderating role of market
environment. Asia Pacific Journal of Management. 32(2). pp.505-530.
Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality
marketing and building the constituency model for hospitality marketing. International
Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
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