ABSTRACT Ultimate aim of any firm is to gain maximum profit. This is only possible when they are abletounderstandtheneedsandrequirementofcustomersanddeliverthemservices accordingly. Brand values among customers towards companies increases when the set of requirementslistedbyserviceusersaresatisfied.Therateofcompetitionhasraised tremendously in all sectors. Firms make use of strategies so that they attract more and more customers. The focus is made on identifying the factors that affect the purchase intention of customers in relation with event management. In order to conduct the research both primary secondary method were used. More specifically, there are 5 different event management firms are selected from UK. Among these companies, there 1 manager and 20 customers selected from each company. So in total there are 5 managers and 100 customers from whom interview and questionnaire is conducted. These respondents are selected as they are helpful enough to provide adequate information for the research topic. From the findings, it is analysed that individual’s perception is positive for the services and products when firm has high brand recognition. Further, major focus need to be made on high quality by organizations so as to raise brand loyalty among customers. Further, all the issues that are faced by customers should be considered and appropriate steps should be taken so that the rate of perception that is carried by individuals can be made positive.
TABLE OF CONTENTS ABSTRACT.....................................................................................................................................2 Chapter 1: INTRODUCTION..........................................................................................................1 1.1 Overview..........................................................................................................................1 1.2 Significance of the study..................................................................................................4 1.3 Problem statement............................................................................................................7 1.4 Research aim and objectives............................................................................................8 1.5 Research questions...........................................................................................................9 1.6 Research framework.........................................................................................................9 1.7 Structure of the thesis.....................................................................................................11 1.8 Summary.........................................................................................................................13 Chapter 2: LITERATURE REVIEW.............................................................................................15 2.1 Introduction....................................................................................................................15 2.2 Concept of branding.......................................................................................................15 2.3 Importance of branding to mid-size businesses..............................................................22 2.4 Concept of brand awareness and intention to purchase..................................................26 2.5 Importance of brand awareness for event management industry in UK........................31 2.6 Impact of brand awareness on intention of purchasing..................................................38 2.7 Key factors influencing the intention to purchase..........................................................48 2.8Effectivenessofcustomisesalesstrategyinfluencingpurchaseintentionoftarget customers..............................................................................................................................55 2.9 Branding strategies.........................................................................................................56 2.10 Role of branding in marketing......................................................................................57 2.11 Summary.......................................................................................................................59 CHAPTER 3: RESEARCH METHODOLOGY...........................................................................60 3.1 Introduction....................................................................................................................60 3.2 Data collection methods.................................................................................................61 3.3 Research Philosophy......................................................................................................64 3.4 Research approach..........................................................................................................67 3.5 Research Design.............................................................................................................70
3.6 Sampling.........................................................................................................................71 3.7 Data analysis...................................................................................................................72 3.8 Accessibility Issues........................................................................................................74 3.9 Ethical consideration......................................................................................................76 3.10 Conclusion....................................................................................................................77 3.11 Summary.......................................................................................................................78 CHAPTER 4: DATA ANALYSIS................................................................................................79 4.1 Introduction....................................................................................................................79 4.2 Interview carried out from the managers of 5 mid-sized event companies....................79 4.3 Questionnaire collected from customers........................................................................90 4.4 Chi-square test..............................................................................................................115 4.5 Discussion.....................................................................................................................119 4.6 Summary.......................................................................................................................132 CHAPTER 5: CONCLUSION AND RECOMMENDATIONS.................................................133 5.1 Conclusion....................................................................................................................133 5.2 Recommendations........................................................................................................146 5.3 Summary.......................................................................................................................149 CONCEDPTUAL FRAMEWORK.............................................................................................150 REFERENCES............................................................................................................................151 APPENDIX 1...............................................................................................................................194 Interview with managers....................................................................................................194 APPENDIX 2...............................................................................................................................195 Questionnaires for customers.............................................................................................195 APPENDIX 3...............................................................................................................................199
Chapter 1: INTRODUCTION 1.1 Overview Management of an event is a crucial task which require the active attention of parties associated with the same so as to render perfect quality of services. It is considered as the project management kind of approach under which varied activities are scheduled as per the cost and time involved under each. This proves to be effective to integrate all business activities and support management to carry out operation activities effectively. It is very important to shed light on brand awareness in order to increase the purchase intention of customers. This is because if a customer is well aware of particular brand. This aids to increase the attention of consumers and create word of mouth (Mazodier and Merunka, 2012). This proves to be effective for business to increase overall rate of return and increase the satisfaction level of customers There are some key factors which aids to promote the customers purchase decision to a great extent. It can be made possible only with the help of aspects such as brand, search, social media and work of mouth as well as conversions. Along with that, other factors such as intelligence, creativeness and trustworthiness are some of the factors which influence buyers to purchase a particular product or service. This in turn it becomes easy to grab their attention and ensure their inclusion in the process of repeat purchase decision (Chang and Chen, 2014). It indicates clear link between a particular brand and repeat purchase decision of the customers. This in turn, parties show their interest towards the brand by seeing advertisement and other related strategies. Purchasing decisions of buyers gets affected and due to that overall sales performance of the company gets influenced. It is critical that impact of these factors should be considered so that improvements can be made in the performance of the organization. Along with this Brand awareness gives impact on the consumer purchasing decisions of the business. There are many external and internal elements that gives influences on the buying decisions and duetothatpurchaseofproductsandservicesinmarketgetsaffected.Adviceand recommendations given by friends and family members affect the thought process of the buyer. Companies integrate the customer facing activities so that it becomes easy to provide them quick information related to product and services. Not only had this but with the help of customer focused activities firm gain the trust. Furthermore, online targeting strategies are applied by markers so as to make it possible that customers are effectively connected with the business and getting information regarding varied kind of products and services. For example, 1
information Websites and PR as well as loyalty programs (Aaker and Joachimsthaler, 2012). It indicates that initiatives are taken by the business like Ticket desk through so as to attract clients and make them aware related to new offerings of the business. In this manner, corporate gain attraction of buyers and make it possible for them to get good quality of services and appropriate business environment. Not only this but companies use aspects such as increasing the expertise of personnel and enabling them to focus on the products and services of the corporation (Hafeez and et.al., 2016). This proves to be effective to determine the long run success and development. Branding of an event has its own importance such as promotion, creating brand strategy and setting it up for success. In this manner, event management companies effective promote their services just with the help of branding (Kalafatis, 2016). It enables firm to spread the information related to event management organization and let them aware of the importance of the particular brand. Furthermore, brand awareness is considered as the dominant choice tactic among the aware group of people. However, some of the customers do refer a brand just because of their involvement and emotional appeal with the same (Balakrishnan, Nekhili and Lewis, 2011). Though, they do not consider the same in term of price and quality due to their focus on brand only. For this purpose, it becomes important for an organization to refer the given brand andaccordinglycatertheirrequirementappropriatewithintroductionofseveralkindof promotional tools and technologies (Zhao, Sun and Kakuda 2017). Present investigation is based on Ticket desk companies which is associated with several kind of west end shows, currency exchange and concert tickets as well tour packages. It contracts with several companies such as big buss and golden tours as well as secondary agents in order to increase the revenue and meet the expectations of all related stakeholders in an effectual manner (Andaleeb, 2016). The organization is situated in Central London and customer foot falls is more than 400 customers every day. It reflects higher sales turnover for the business and attract more and more customers towards the same for getting the good quality of services. Company contact with different suppliers or parties such as TUI and thetrainline.com as well Saga (Herzog, Lepa and Egermann, 2016). The cultural exhibitions and sightseeing tends to form the integral part of our product range. This in turn becomes easy to offer the services in competitive prices (Osakwe, Chovancova and Ogbonna, 2016). On the other hand, restaurant packages and group rates are charged in order to provide the rich experience for the users. Moreover, Ticket desk provide the services in term of several tourist attraction such as London Zoo and London Eye and London 2
Aquarium (Booth and Matic, 2011). Along with that, Tower of London and London Dungeon. Thus, firm is working under partnership with many other parties through which it becomes easy to organize the most appropriate event in accordance with different parties. It proves to be effective for deriving the higher level of satisfaction among varied parties and retain them for longer time span (Pickering, 2017). In addition to this, sightseeing tour of centre includes Charing Cross Island and Leicester Square Station as well as Criterion Theatre. These remain open in accordance with convenience of visitors and provide them appropriate kind of service package and also help them to organize their events in a most effective manner (Shaltoni, 2017). Feedbacktaken from consumers aidsin making positiveimprovementsin overall performance of the business and due to that weak; performing areas can be easily identified. Along with this comment card systems can also be used so that difficulties and issues faced by the consumers can be evaluated and on the basis of that strategies and action plans can be formed (Liu, Z. and et.al., 2016). Event management sector is facing huge challenges and competition and due to that it is critical that strategic approaches should be should so that competitive advantage can be gained for the business (Padfield and et.al., 2016). Moreover, strategies and action plans used by rival firms can also be identified so that better and effective measures can be taken for meeting with the challenges that are created by the rival firms. Satisfaction level of consumers is essential so that more number of consumers can be added in the business and potential buyers can be identified. It will help for ensuring growth and success for the enterprise (Nguyen and et.al., 2016). The event management sector shed light on promoting their services and giving higher levelofsatisfactionamongcustomers.Itisconsideredastheeffectiveaspectwhereby competitive edge of the business is created (Green, 2016). For this purpose, focus is laid on quality, price and other related aspects. For this purpose, Ticket desk follow its structured approach under specific requirement of the customers are taken into account and they are provided services accordingly. It can be critically evaluated that in case business does not follow the most appropriate approach then company need to pay its cost in term of higher loss (Braimah and Tweneboah-Koduah, 2011). Here, extrabenefitsassociatedwith servicedelivery are considered by the users or corporation under which customer satisfaction can be increased to a great extent (Osakwe, Chovancova and Ogbonna., 2016). It contributes towards the generating the positive attitude among customers and making them aware related to presence of a particular 3
brand. In addition to this, brand awareness among customers indicates that consumers are possessing necessary knowledge regarding the brand (Pickering, 2017). It is the biggest reason thatcorporationoperatingundereventmanagementindustrypreparetheemotional communication package in order to create the positive affective response (Bruhn, Schoenmueller and Schäfer, 2012). This leads to increase their intention towards the brand. On the other hand, customers prefer the brand attracting them and meeting their requirement to a great extent. For this purpose, good experience of their relatives is also important so as to have positive word of mouth in the marketplace (Shaltoni, 2017). Advice given by friends and family members play a vital role in influencing the though process of buyers. If positive recommendations are given by friends, family members and relatives than it will support for encouraging the buyer to purchase the products that are offered by the organization (Liu, Z. and et.al., 2016). If negative reviews will be given by friends and family members than it will create negative brand image of the firm. Company should regularly make efforts for making interaction and communication with the buyers. Social media platforms can be used for making proper interaction with consumers (Padfield and et.al., 2016). It will support for enhancing the business experiences of buyers and they are most likely to repurchase the products and services that are offered by the company. Along with this event management companies can make use of innovative approaches so that positive reviews can be gained from the buyers. It will aid for ensuring long term growth and survival of the business (Nguyen and et.al., 2016). 1.2 Significance of the study The brand awareness is very important for the purpose of upward direction of the business which assists corporation to create strong market position. It aids to integrate all business activities and support business in deriving valid outcome (Rexhepi and et.al., 2017). It assists corporation to adopt the most suitable sales strategies so as to increase attention of customers towards particular brand and access good brand which best meet their expectations. In modern era, competition in increasing highly which made it typical for businesses to grab the attention of the buyers (Brodie and et.al., 2016). For this purpose, it is very important to shed light on expectations of customers. However, role of latest communication technology is very important through which companies come into the contract of buyers and make them aware related to range of products and services (Ewing, 2017). Though, it is the fact that brand 4
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