Report On Festival Republic - Marketing Mix Concepts & Communication
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Added on 2020-02-03
Report On Festival Republic - Marketing Mix Concepts & Communication
Added on 2020-02-03
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STAKEHOLDER ANDACCOUNT MANAGEMENT
Table of ContentsStakeholder and account management.................................................................................................1Introduction..........................................................................................................................................3Task 1....................................................................................................................................................31. Importance of stakeholders in Festival Republic.........................................................................3Task 2....................................................................................................................................................62. Relationship marketing in Festival Republic...............................................................................6Task 4....................................................................................................................................................94. Role of the account manager And principles of stakeholder management..................................9Conclusion..........................................................................................................................................12REFERENCES...................................................................................................................................14
Illustration IndexIllustration 1: Power and interest grid..................................................................................................7Illustration 2: Loyalty Ladder...............................................................................................................9Illustration 3: 5 Stage model..............................................................................................................10
INTRODUCTIONStakeholders are the person or group of persons who are affected by the outcomes andactivities of business. Stakeholder management help the organizations to fulfil its goal by satisfyingits investors and also by recruiting necessary capitalist (Aaltone and Kujala, 2010). It is a processto build and improve relationship between several participants with different interest and values asper the expectations and agreed objectives with an appropriate management. It deals withidentification of collaborator's interest and influences and development of communication planbetween different stakeholders to achieve the main objective of the company (Aaltonen, 2011). To complete the present report, Festival Republic has been taken into consideration. It ispopular event management organization and organizes large scale of festivals and music events.Report will cover different stakeholders and its importance in the business. It will cover themarketing mix concepts and communication activities of the event management company. It willdiscuss the role of account managers in relation with the stakeholder management.TASK 11. Importance of stakeholders in Festival RepublicStakeholder is the important part of the company because they are those group of individualperson who are having something in the business and help a company to grow in their field(Andersen and et.al, 2016). A wireless Festival company are having a different stockholder in theirdifferent areal like music area, etc. Stakeholder participated in all the activity and event of thecompany and having some part on the business.External stakeholders/secondary stakeholderEvent directorArtist liaisonEvent Manager Marketing, Advertising, PublicityMarketing, Advertising, PublicitycustomersgovernmentsuppliersInternal stakeholders/primary stakeholders:SponsorsVenue OwnershareholdersemployeesNeeds and interest of internal stakeholders
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