Strategic MKT PLG

8/6/2019 Strategic MKT PLG

1/18

Strategic Market Planning


2/18

Development of marketing Plan

` Hierarchy of plans

Corporate Mission

Business Plan

Marketing Plan

Individual Event Plan

Implementation and

Review Plan


3/18

Development of Marketing Plan

` Identifying goals both commercial and socioeconomic

` For an event agency it is important to understand anddefine the interest areas in event categories thatbrought the agency into existence.

` Converting mission into objectives and createbusiness plan based on ground realities, capabilitieswithin the boundaries of available resources.

`

The marketing plan serves as a connection betweenevent agency and the environment.


4/18

The marketing plan

` Provides the direction for the future growth.

` Strategic marketing planning for the event

agency evolves from the need to look into thefuture in understanding the trends in event

market.


5/18

Setting Objectives

` New client development

` Market development of clients

` Expansion of geographical presence of existing

events

` Creating company awareness


6/18

Setting Objectives

Criteria Example

Profitability Min. 15% Margin

Pricing Premium

Market share Around

30% in value termsLogistics On time execution

Public relation

/promotion

Effort to create awareness

Artistmanagement

Acquire already established artists

Training Training by participating in actual event

execution


7/18

Development of strategic Market plan

` Understand internal and external environment

around the event firm


8/18

Environmental assessment

` SWOT Analysis:Parameter Strengths WeaknessClients Satisfied Systems not in place to

follow up on new clients

Event service Well established artists Manpower shortage

Locations Major metros, agents

Promotion/PR Creative team,PRdept. PR inactive

Costing Better bargain possible Records not updated

Finance Sales team experienced Bureaucracy

Production Experienced managers Shortage of professional


9/18

Environmental assessment

` SWOT Analysis:

Parameter Opportunities Threats

Total Market 500 Cr Growing at 50%

Political

Environment

Increased MNC presence Instability of

govt.

Technology Scope for use of IT

systems

Competitors

strength

Competition Tie ups possible


10/18

Competitive Assessment

` Understanding price advantage


11/18

Gaining competitive advantage

` Assessing bargaining power of clients

` Substitutes:Net events


12/18

Business potential assessment

` Market Attractiveness` Required investment

` New competitive threat

` Risk

` Event life expectancy` Price elasticity to market demand

` Market Growth

` Market Size

` Profitability

` Segmentation

` Seasonality

` ROI


13/18

Business Strength

` No. of events generated over a time period Geographic

coverage

` Logistics

` Change in market share

` Selling power

` Price competitiveness

` New event concepts or variations

` Ease of event differentiation

` Sourcing structure

` Drawing Power


14/18

Problem Analysis

` Problem that share a single cause

` Industry related problems

` Company related problems

` Problems that can be solved

` Problems that can not be solved


15/18

List of problems

` List of problems:Sl. No. Problem Legend

1. Poor project planning A,B,C

2. Lack of Top Management time B,C

3. Blurred functional responsibilities A,B,C4. Computer based information system needed B,C

5. Systems not in place A,B,C

6. Poor networking commitment enforcement D,B,E

7. Rework & Extra efforts ADBCE

8. Need for a library BC

9. PRdepartment not fully functional ABC

10 Shortage of professional & Skilled manpower ADBC

11. No set measurement system D


16/18

List of problems

` List of problems:

` A: problems that share a single cause ; B: company related problems

` C: Problem that can be solved ; D : Industry related problem

` E:Problem that can not be solved

Sl. No. Problem Legend

12. Poor lead and opportunity management B

13. Lack of awareness among corporate DE

14. Cyclicality/seasonality DE15. Pricing of ticketed shows ABC

16 No protection for concepts D

17 Regulations to be followed and permissions to be taken DBE

18 Reworking and repetition of efforts BC

19 Chronic over time working ABC


17/18

Opportunity analysis

Rank Opportunity Attractiveness

To firm

Probability of

success

A Synergy exploitation 10 95

B New application 10 90

C Lead Management 10 90

D Leveraging opn ability 9 90

E Technical expertise 9 75

F Understanding Marketing

strategies

9 60

G Creation of need based E 5 90

H Improvements in pdn 5 80

I Organizational Structure 5 45

J Planning & Training sales team 5 40

K Local Agents network 4 35


18/18

Opportunity Matrix

100% 50% 0%

Probability of Success

AB

CD E F

G H I J

K

10

5 Potential

Attractiveness

0

Strategic MKT PLG

Documents

Transcript of Strategic MKT PLG