Category: Marketing

Introduction

The emergence of the concepts of global and international marketing was primarily due to the globalization of business activities and the liberalization of trade. Yet it raised many issues, for example, the need for identification of key markets, challenges and opportunities they withhold, development of strategic plans by companys divisions worldwide, and more. In the framework of this paper, we will analyze the experience of Maybelline New York.

Main body

First of all, it is essential to highlight the difference between global and international marketing. Although some might believe these concepts are more of the same, global marketing is concerned with building a unified plan of operation in the worldwide market, while international marketing entails developing different approaches towards markets globally (Farell 5). Maybelline is one of the worlds leading cosmetics brands and is represented in 129 countries (Maybelline). Its approach relies mostly on the first concept, as the company has a unified image for its products worldwide, making them recognizable everywhere as something known, yet wanted by women.

Developing a global strategy involves the definition of business and reassignment of the rest to strategic business units (SBUs). SBUs deal with the development of global strategy and can be divided into groups depending on the type of customers to serve or the products and services the company produces (Farell 282). For Maybelline, the message revolves around accessible cosmetic products for young women with middle-to-low income requiring products of high quality (Maybelline).

Conclusion

Different motivations could drive companies internalization. For example, they could be doing it because of the benefits that come with entering a new market (proactive) or could be doing it because they have to (reactive) (Farell 153). For the multinationals like Maybelline, internalization is a rational track of development, as, generally, it is pushed by the companys successful performance domestically and the request for expansion. Still, Maybelline does not operate in every market in the world yet, even for multinationals, there do exist unattractive markets that invoke more losses than benefits.

References

Farell, Carlyle. Global Marketing: Practical Insights and International Analysis. SAGE, 2015.

Maybelline. Maybelline New York. Web.

The marketing mix is the combination of marketing elements crucial in accomplishing a marketing objective. There are four variables in the equation, which are product, price, place, and promotion. Each of these elements has its own constituents. The ultimate goal is to sell goods and services, therefore a marketer examines each tool a business has to successfully operate on the market. Together, these tools constitute the marketing mix.

The entirety of product consists of its quality, packaging, design, and brand. They are especially easy to distinguish when a product is physical. A marketer can assess how good it is, the creativity of design, the popularity of the brand, and other characteristics, which can be used in increasing marketing value. The same principle can be applied to the place. A marketer can study where products are distributed. They can be in a physical location or on the internet. A customer can obtain the product by buying it at a retail store, or by having it delivered, or by simply downloading it. All these options also comprise the marketing strategy of a business.

The third element is price, which can be used to manipulate customers by offering them discounts, credit terms, and other forms of payment. However, neither of the elements is effective without the final constituent  promotion. It is the most flexible variable because it can take be realized in any way. For instance, a product can be promoted by something as simple as mentioning it in a conversation. At the same time, entire advertisement campaigns are launched to increase brand awareness. In comparison, the other three elements are more stable and predictable and are not capable of quickly increasing the marketing value.

Nike Air Jordans has 35-years of experience being in the sports footwear market and formed consumers brand perception as providers of luxury sneakers. The basis of its marketing strategy is Michael Jordans name and authority, however, relation to the celebrity is not enough in the current fashion industry (Childs and Jin, 2018). Interviewing Nike Air Jordans buyers revealed that they lack product excellence while other brands produce the same footwear at lower prices and better reviews.

Jordans can improve their competitiveness by integrating prioritizing buyer behavior patterns into their strategies (Childs and Jin, 2018). Based on the consumer interviews, brand research, goals, and knowledge of psychological factors influencing peoples buying decision-making, we developed three key recommendations for Nike Air Jordans.

First, the company can increase the range of firms to collaborate with to broaden the potential buyers audience. Nike Air Jordans has recently established a campaign with a limited series of sneakers designed with Diors luxury brand (Jordan brand and Dior announce a new collaboration, 2019, para. 1). The same approach can be utilized with more affordable clothes and footwear producers. Moreover, the brand can collaborate with the most influential celebrities and evaluate the demand and prices based on these fans traits. This approach is called celebrity branding. Fegade (2020, p. 57) notes that the use of a celebrity or sports professional can have a huge impact on a brand. The interviewed Jordans consumers stated that becoming more popular instead of keeping the luxury status can harm sales.

However, the limitedness of the shoe lines has always been profitable for Nike, thus, collaborations can include both expensive and affordable brands (Childs and Jin, 2017). Launching a cheaper yet still limited version of Jordans will influence the psychological decision-making of people who want to belong to a particular group but currently are not (Solomon et al., 2016). A celebrity or widespread brand endorsement targets these buyers, and their experience of having a pair of Jordans sneakers might turn them into loyal customers.

Second, Nike Air Jordans is a brand with high cultural identification based on basketball and Michael Jordans persona, and the popularization of these factors can help influence the younger generations. More than 70% of interviewed individuals prefer buying shoes at stores, however, most of them are 18-24 years old  the audience whose decisions are being influenced by online ads. In terms of marketing strategy, the advertisement that highlights the historical significance of Jordans career, his values, and his wishes for successors can be shown to the targeted audience of basketball world representatives like coaches and players worldwide.

Moreover, the internet and targeted advertisement capabilities can help detect potential buyers right to study their traits and brand perceptions (Guan, 2020). The combination of brand identity, Nikes authority, and the popularity of Michael Jordan are crucial for the sneakers brand to maintain its market position.

Last, a slight update in quality or reminder of unique Jordans features like punctured leather toe area crafted for ventilation can increase consumers loyalty. The whole interviewed group responded that they would repurchase the sneakers, however, more than 70% percent use the competitors products. Although exclusive shoes primarily impact consumers sense of sight, awareness of the excellence-based options can increase competitiveness (Solomon et al., 2016). The environment-friendly attitude is the growing consumption trend, and people start being interested in the manufacturing and materials of goods they are about to buy (Guan, 2020).

Jordans marketing campaign might include quality updates based on ecology and sustainability. Put differently, they can add green consumption motivators to their strategy to stimulate the green purchase intention of buyers. According to Jain, Gupta, and Verma (2020, p. 98), green purchase intention facilitates green purchase behavior positively. Therefore, the implementation of the theory of planned behavior will be beneficial for Jordan.

Reference List

Childs, M. and Jin, B. (2017). Nike: An innovation journey, in Jin, B. and Cedrola, E. (eds.) Product innovation in the global fashion industry. New York: Palgrave Pivot, pp. 79-111.

Fegade, A. (2020). Celebrity branding and celebrity brand value, PARIDNYA-The MIBM Research Journal, 7(1), pp. 55-68.

Guan, Z., (2020) Irrational consumer behaviors in the sneaker market, Management Science and Engineering, 14(1), pp. 49-52.

Jain, V. K., Gupta, A. and Verma, H. (2020). Millennials green consumption behavior and its linkage to firms marketing competitiveness: Findings from select study in Uttarakhand, International Journal of Global Business and Competitiveness, 15(2), pp. 94-105. Web.

Jordan brand and Dior announce new collaboration (2019) Web.

Solomon, M., Bamossy, G., Askegaard, and Hogg, M. (2016). Consumer behaviour: a European perspective. London: Pearson.

The TED talk prepared by Seth Godin reveals the reasons why some things are not done appropriately. The work of this entrepreneur and blogger can be used in the framework of marketing to explain both successes and failures.

During promotion and advertising, a mistake can be made in the printed materials, for example. It can be overlooked by the editor but noticed by a person who prints or posts the text. Still, one can ignore the mistake believing that correction is not included in ones duties. Thus, it would be better to train employees how to act in such situation.

When trying to reach short term goals, professionals often refer to the practices that are not valued by the community. They may start spamming or use inappropriate humor or offensive expressions, etc. In this way, it is critical to improve advertising efficiently. Rising costs and the necessity to increase sales that are currently observed in the core of self-promotion should be eliminated (Kotler et al. 2013).

Things are considered to be broken when they seem to be appropriate for another period of time (Seth Godin: this is broken 2006). Professionals should develop advertising strategies and sales force strategies making them appropriate for the current society. For example, it is good for the company to use the Internet when recruiting personnel and improving public relations because many potential workers and clients prefer it to other sources of information.

It is also significant to make sure that the information provided to the public is appropriate and useful. For example, preparing a speech, identity materials or service activities, one can refer to the things he/she does not use at all. Thus, the information one provides can be useless and not helpful at all. Not to disappoint the clients, professionals should ensure that their marketing activities are decent.

When proposing some advertisement, one should consider its communication effects. The professionals should know how particular thing works and for what it was designed to communicate the ad message in a right way. If the representatives of the targeted market cannot understand the sense of it, the whole project was done in vain, and money was wasted.

Contradictions made in the text of the advertisements may attract clients. For example, a gum that is called professional is likely to appeal to children just because such combination sounds extraordinary. It is critical that it does not bear any negative or offensive insight. However, some contradictions may cause anxiety and unwillingness to purchase the product or service.

Finally, professionals can refer to the things that are broken on purpose when they want to attract more clients (Seth Godin: this is broken 2006). Such approach can be rather advantageous for advertising and promotion purposes because it provides an opportunity to stand out. However, it is significant to make sure that the break does not lead to misunderstanding and still allows to grasp the meaning.

Thus, it is critical for the marketing professionals to make sure that the things they work with or design are not broken. Of course, some clients may not notice this, but the sense of their work will be lost if it fails to meet its primary goals. Efficiently developed marketing strategies provide more chances to attract new clients and excel competitors. Only well-considered break that is done on purpose can have positive effects, as it allows to gain more attention.

Reference List

Kotler, P, Armstrong, G, Cunningham, P & Trifts, V 2013, Principles of marketing. Pearson, Canada.

Seth Godin: this is broken 2006, video, TED.

Introduction

Laura Ashley is a British textile design company that manufactures home furnishings and clothing and sells them worldwide. It was founded in 1953 by a fashion designer who gave her name to the company and grew to prominence in the 1970s and 1980s. In the 1990s, it was acquired by the Malaysian firm MUI, which has held the firm until events that will be described below. However, recently, the company has struggled with declining sales as it struggled to compete with more affordable and youth-friendly fashion chains. Efforts to address the problem have proven unsuccessful, and the company continued to underperform financially. Moreover, in early 2020, the COVID-19 pandemic happened, along with the associated lockdowns. With neither MUI nor the British government ready to provide financial aid, Laura Ashley had to file for administration.

The administration process is an alternative to liquidation, in which the companys control is given to an administrator, who aims to save the business and benefit the creditors more than a liquidation would. However, Laura Ashley did not complete it, as it was bought out by the investment firm Gordon Brothers shortly after initiating the administration (Jahshan, 2020). It now has a source of funding and may continue its operations as usual. However, the problems that the company had before the arrival of COVID-19 persist, and it has yet to discover solutions. Laura Ashley needs to reevaluate its marketing and target sectors that can generate sales and profits while also competing with other fashion and home furnishings brands. The purpose of this case study is to evaluate the current state of the company and its competition, identify threats and opportunities, and formulate strategies for recovery based on these findings.

Marketing Communications Audit

Current State of the Company

In recent years, Laura Ashley appears to be struggling with maintaining its operation due to a variety of factors. Starting with the financial crisis of 2008, the brand has had a significant amount of controversy associated with it, primarily centered on its operation in Ireland. The inability to appropriately respond to a high number of negative reviews has also damaged its reputation and sales to some extent. Since that point, the sales have been on the decline, culminating in 2016, when the Australian branch of the company went into administration. The action was performed at least two times, which was attributed to poor sales. The UK branch also experienced drawbacks in its operation, which saw the company closing 40 locations. Further passage of time saw more financial losses, connected with a decline in the need for traditional products. In terms of the most recent developments, Laura Ashley, like many other companies, has found difficulty in staying in business due to the devastating effects of the current pandemic. Covid-19 not only limits the customers ability to visit store locations but also severely restricts their buying power. In light of this development, the company filed for administration, putting the jobs of its employees at risk (Tingle, 2020). In March, 268 jobs were cut, with 721 more being left at risk of termination as well (Laura Ashley, 2020). The reasoning behind this decision was put on the spread of the pandemic and an inability to recuperate the losses. April of the current year saw Laura Ashley being purchased by the Gordon Brothers, an investment firm. This event has had a revitalizing effect on the store chain, giving it an opportunity to make a successful return to business. Overall, the company has faced great difficulty in attracting a stable customer base and securing sales in many of its shops. The losses were significant enough to warrant an acquisition by an investment firm. The arrival of new management gives the company the much-needed resources to secure its position on the market and offer potential customers the range of products they require. While the future development path is uncertain, the most recent events can be seen as a much-needed change in direction for the company.

In terms of marketing, Laura Ashley focuses on maintaining its brand image as the embodiment of traditional English values combined with small touches of modernity. Much of their website is centered on the character of their founder and the face of the brand, Laura Ashley, whose personal history is recounted there in extensive detail. The store gives its values and legacy a top priority, which is reflected in its marketing efforts. Their advertisements primarily feature women in long and traditional clothing, a variety of flower patterns, and calming colors. The brand embraces a classic-casual aesthetic and appeals to conservative English families. The brand also has a somewhat significant social media presence, managing a Facebook account that is updated at a consistent frequency. The page features their newest designs and patterns, providing exposure to new and seasonal products. The captions are formatted in a semi-formal tone, creating a calm and welcoming atmosphere. Some of the Facebook posts also feature their founder, Laura Ashley, as well as some old pieces of photography and media, which are used to further promote the vintage image of the brand.

SWOT of Marketing Communications

Table 1: SWOT Analysis of Laura Ashleys Marketing Communications

Strengths

Laura Ashley is a powerful brand that is embedded in the consciousness of the British people. During its peak, its products were worn and used by many prominent personalities, including Princess Diane. As such, it has a reputation for quality, natural product usage, and durability as well as an association with femininity (Solomon et al., 2019). Moreover, with over 150 stores in the UK (Tingle, 2020) as well as various wholesale retail channels, it has a powerful platform with which to deliver its products to customers. Lastly, with its production of both fashion items and home furnishings, Laura Ashley can take different approaches to change its operations.

Weaknesses

Laura Ashleys products are designed for British people and based on their traditions. As such, they may not necessarily appeal to people elsewhere, limiting the degree to which the firm can penetrate the global market and making such ventures risky. Moreover, as Reed (2019) asserts, the companys clothes specialize in a vintage approach that appealed to the British sensibilities in the 1970s. Now that the relevant cultural factors, such as back-to-nature views and nostalgia, may not be as prominent, a downturn in popularity may be challenging to avoid. Lastly, Laura Ashleys products appeal to the middle class and are priced appropriately, which makes them unattractive to a large segment of potential buyers.

Opportunities

Laura Ashley may be able to improve its performance by increasing the degree to which it is present internationally. As mentioned above, such a move would be risky, but the promise of appealing to previously untapped market segments with an interest in British culture should be considered. One way to alleviate the threat would be by creating new designs that suit modern or local sensibilities better and thus appeal to new consumer segments. Another would be increased internet usage and e-commerce, specifically, which Gordon Brothers sees as one of the two most significant expansion vectors for the firm (Biswas, 2020). It lets the company expand internationally with minimal costs and capture larger regions than a brick-and-mortar outlet can.

Threats

The primary threat to Laura Ashley comes from global fashion chains such as H&M and Zara. As Khan et al. (2019) note, they specialize in so-called fast fashion, capitalizing on fashion trends rapidly and quickly delivering items that follow these influences to all of their stores at affordable prices. As a result, should Laura Ashley create a popular product, there would shortly be a cheaper alternative available. Moreover, expanding into new clothing styles could cause Laura Ashley to lose the support of the customers who value its traditional approach. Lastly, social trends change over time, and Laura Ashleys messaging may not be suitable for current circumstances

Competitor Evaluation

Zara will be the competitor chosen for the purposes of this analysis because of its prominence in the United Kingdom and worldwide.

Table 2: SWOT Analysis of Zaras Marketing Communications

Zara is famous for its fast-fashion approach, quickly determining the current trends and delivering products that match them to customers before the sensation disappears. It achieves this goal by understanding its consumers, actively incorporating feedback, and monitoring worldwide fashion trends (Kotler et al., 2019). Other measures Zara takes include its positioning in prestigious areas that creates the corresponding association (Roll, 2020) and highly successful social media accounts (Ravi, 2018). However, the brands insistence on avoiding traditional advertising may be a weakness, especially when fewer visits to physical locations occur. Additionally, Roll (2020) claims that retailers such as H&M and Mango have challenged Zaras price leadership, which can lead to either a loss of sales or reduced profits as it drops prices. Lastly, while Zara follows fashion trends closely, it does not create them, leading to an overall lack of originality.

The emerging e-commerce trend benefits Zara similarly to other brands, enabling it to sell items to customers in a more convenient manner than before. Additionally, Roll (2020) finds substantial opportunities for improvement in Zaras social media management. While the company adopted it earlier than others and benefited substantially from doing so, its strategy has failed to evolve and stay on par with modern trends such as engagement. Lastly, the company can likely benefit from adopting traditional marketing in some fashion, especially as competition intensifies. However, Zara also has to deal with substantial threats, such as its various PR scandals involving both ill-conceived advertising moves and misconduct such as unpaid labor (Ravi, 2018). Moreover, with additional competitors targeting its customer segment and undercutting it in price, Zaras lack of originality may lead to it losing its distinguishing features. Lastly, the businesss current focus on physical locations in its marketing is hurting it in conditions such as COVID-19, when store visits have declined massively.

Customer Groups

Laura Ashley still focuses on designs that made its products popular in the 1970s and 1980s, though it has made some changes to accommodate younger populations, as well. Moreover, as mentioned above, it has built an association between its brand and femininity, though the company offers garments for men, as well. As a result, Francis et al. (2019) confirm that its most significant customer segments are women and people who are over 40, particularly those in the middle class. Women are typically interested in appearing fashionable and feminine and choose their clothing carefully to match their style and satisfy their preferences. People over 40, in general, were likely influenced by the hippie movement and nostalgia for the 19th century. As a result, they prefer more classical designs and the usage of natural materials as opposed to synthetic fabrics and may do so for both clothing and home furnishings.

TOWS Matrix and Commentary

Table 3: TOWS Matrix for Laura Ashley

Internal Strengths and External Opportunities

Laura Ashley has a well-established brand that has a powerful association with the United Kingdom. While it is unlikely to become universally popular worldwide, there are several low-risk options for it to increase its market share. One is e-commerce, which was mentioned above and enables expansion with a relatively low investment. The other is partnerships with large wholesale retailers, which can then carry Laura Ashley products in their existing stores. Both of these approaches are promising, as they can reach large customer bases without requiring excessive investment.

Internal Strengths and External Threats

Laura Ashley is unlikely to be able to match its competition if it attempts to replicate the model due to large chains inherent advantages. However, it may be able to avoid a large portion of the difficulties by adopting a niche strategy and targeting its current customer base. As described by Gwilt, Payne, and Ruthschilling (2019), a sustainable fashion strategy is a possibility, as Laura Ashley already satisfies many of the criteria necessary to qualify for this description. An alternate opportunity is to continue the companys attempt to attract new demographics and increase its sales in this manner.

Internal Weaknesses and External Opportunities

To reduce the high prices that make Laura Ashleys products inaccessible to many demographics, the company can employ global sourcing. Many developing nations produce textiles at lower prices than the facilities located in the United Kingdom or near it. However, the resulting lack of support by Laura Ashley of local manufacturers may cause reputation damage, which has to be considered. The company can use crowdsourcing via social media to address the design problem, which is a promising approach for innovation (Information Resources Management Association, 2019). This method can help Laura Ashley connect with their buyers directly and satisfy their needs.

Internal Weaknesses and External Threats

Still, Laura Ashleys weak global appeal has to be considered, especially because competing chains have already expanded into most potential entry nations. One option that avoids risk would be to focus on the United Kingdom, to which the companys products are highly suited. As such, Laura Ashley may be able to capture a substantial portion of the market locally, stabilize itself, and prepare for further development. Another option would be to attempt to compete on price and create product lines that are lower in price than the companys typical offerings. In doing so, Laura Ashley can also appeal to new demographics, but the strategy is risky because the company struggles to match fast fashion practices.

Marketing Communications Strategy

Ultimately, Laura Ashley currently relies on an approach that is increasingly failing as its target demographic ages and stops buying its products while the company struggles to attract new customers. As such, rectifying this tendency should be the primary focus of a strategy aimed at improving the companys current situation. Forresters 5I model will be used to design and implement this approach. The target will be to increase sales by 10% within a year, satisfying the SMART criterion. The new target category that the company should target is young women, both in the United Kingdom and beyond. It can achieve this goal through increased adoption of Internet-based technologies with the purpose of connecting with younger audiences. In particular, it should focus on e-commerce and social media usage.

E-commerce can help Laura Ashley connect with its target audience of young adults by satisfying their needs. Melton (2019) finds a steady and rapid growth rate in the ratio of online purchases made by US millennials, from 47% in 2017 to 60% in 2019. With the various lockdowns and closures associated with COVID-19, this figure is likely to have accelerated more, and the change may be permanent. As such, if Laura Ashley focuses on its online outlets and successfully promotes them, young adults will likely visit its site in increasing numbers and start making purchases. However, it is first necessary to advertise the brand effectively and offer a selection of products that interest the customer segment.

Social media is a tool that can achieve both of these purposes simultaneously, satisfying all five of the 5Is if managed internally. Berry, Sikkenga, and Visser (2019) confirm that, depending on the type of user that the social media campaign is able to engage, it can help increase sales and generate new products. Perrin and Anderson (2019) find that Snapchat and Instagram are two social networks that are particularly popular among the 18-24 demographic, and Facebook is also consistently popular among most demographics. The first two networks are particularly pertinent because they both rely heavily on images, typically photographs. Laura Ashley can, therefore, leverage its clothing products when engaging with these networks by partnering with influential accounts to promote its brand.

Marketing Communications Plan

Central Proposition

Laura Ashleys primary objective is to increase sales among young adults, especially women. The company intends to do so without jeopardizing its standing with existing customers. As such, it will retain its image as a brand that makes traditional clothing but also adapt the products it makes to modern needs and sensibilities. Moreover, it will promote itself as an environmentally friendly and sustainable brand that uses natural components in its manufacturing. As such, it will sell attractive, fashionable products with Victorian inspirations in different varieties and in a broad price range, available for easy online ordering and delivery.

Tactical Plan Outline

First, Laura Ashley will revamp its website to make navigation and purchasing more convenient, improving the visitor experience and increasing the intention to buy. Following this action, it will increase its online presence, expanding its existing platforms and creating new ones on social media where none are present yet. The accounts messaging will vary depending on the platform and the expected target audience, as different platforms users have varying expectations of brand accounts (Moriuchi, 2019). On Facebook, it will target older adults and focus on home furnishings as well as more traditional clothing items. On Twitter, the account will target young adults and interact with its followers, and on Instagram, it will partner with female influencers and retweet their photos in Laura Ashley attire as well as those of hired models.

The messaging of the brand will be that it is more traditional and environmentally friendly than the competition. The value proposition will be in its unique style, high quality, comfort, and green manufacturing practices, which customers in the UK have started valuing more in 2020 (Mintel, 2020). It will focus on the timeless aspect of Victorian fashion while also adapting it to modern sensibilities. This messaging will be consistently applied across all of the nations where the brand operates and those to which it expands with minimal adjustments. The brands foreign messaging will attempt to translate the same style into a local environment and show that it still applies. The all-natural element of the clothing will be particularly emphasized to appeal to environmentally conscious customers, which are increasing in number substantially (Genchur, 2020). At the same time, the company will invest in online advertising and the promotion of its accounts. Additionally, it will continue using its brick-and-mortar outlets and traditional advertisement media. The effectiveness of the plan will be evaluated through the amount of customer engagement with its various platforms and the number of sales that the e-commerce aspect of the business generates.

Reference List

Berry, M., Sikkenga, B. and Visser, M. (2019) Digital marketing fundamentals: from strategy to ROI. Abingdon: Taylor & Francis.

Biswas, S. (2020) Gordon Brothers sees opportunities in retail brands like Laura Ashley, The Wall Street Journal.

Francis, J. B. et al. (2019) Laura Ashley demographics. Wonder. Web.

Genchur, N. (2019) Six consumer trends to watch in 2020, Groundtruth.

Gwilt, A., Payne, A. and Ruthschilling, E. A. (Eds.) (2019) Global perspectives on sustainable fashion. London: Bloomsbury Publishing.

Information Resources Management Association (2019) Social entrepreneurship: concepts, methodologies, tools, and applications. Hershey, PA: IGI Global.

Jahshan, E. (2020) Laura Ashley rescued from administration, Retail Gazette.

Khan, M. H. et al. (2019). Contemporary business. 3rd edn. Toronto: Wiley.

Kotler, P. et al. (2019) Marketing management. 4th edn. London: Pearson Education Limited.

Laura Ashley (2020) Marketline.

Melton, J. (2019) Millennials now do 60% of their shopping online, Digital Commerce 360.

Mintel (2020) British lifestyles: a look ahead to 2021.

Moriuchi, E. (2019) Social media marketing: strategies in utilizing consumer-generated content. 2nd edn. London: Business Expert Press.

Nazir, S. (2019) How does Zara survive despite minimal advertising?, Retail Gazette.

Perrin, A. and Anderson, M. (2019) Share of US adults using social media, including Facebook, is mostly unchanged since 2018, Pew Research Center.

Ravi, K. (2018) How Zara built an engaging brand on social media, Unmetric.

Reed, P. (2019) Fashion evolution: the 250 looks that shaped modern fashion. London: Octopus Books.

Roll, M. (2020) The secret of Zaras success: a culture of customer co-creation.

Saxena, S. B. (Ed.) (2019) Labor, global supply chains, and the garment industry in South Asia: Bangladesh after Rana Plaza. Abingdon: Taylor & Francis.

Solomon, M. R. et al. (2019) Marketing: real people, real decisions. London: Pearson Education Limited.

Tingle, R. (2020) Fashion chain Laura Ashley files for administration after rescue talks are thwarted by coronavirus outbreak putting 2,700 jobs at risk, Daily Mail.

Appendix: Print Advert

A model is in the centre of the advert, wearing Laura Ashley clothing.

The clothes have been selected to reflect Laura Ashleys traditional aesthetic and still look suitable for the modern age.

The background is a modern English street, reinforcing the associations with the United Kingdom and showing that the clothes fit well for such an environment.

The Laura Ashley logo is at the bottom, followed by the tagline Beauty is timeless.

The companys social media are at the bottom to help consumers find them.

Overall, the ad is minimalistic in nature to reflect the message of the Laura Ashley brand, which does not pursue trends and delivers consistent high quality without anything unnecessary.

Introduction

This critical evaluation paper discusses and analyzes the 7Ps of marketing. This model allows leaders to evaluate the companys performance and understand the significant components connected with its functioning, current state, and opportunities for subsequent growth and development. The 7Ps of the marketing model focus on discussing such elements as product, promotion, price, place, people, process, and physical evidence. The evaluation of these components is the basis for the development of the tactics of the company to maximize its profit and to improve the quality of the products or services it provides to clients. It is possible to assume that the use of the 7Ps model of marketing is an effective tool for developing the business tactics and strategy of the organization, determining how the product will be positioned on the market, and understanding the needs of the target audience of the particular business. Therefore, using the 7Ps of marketing is effective from the business point of view, which foregrounds the need in its application in various situations.

Critical Evaluation

The marketing model determines the companys views on its strategic planning and affects the choice of the methods the organization uses to develop its policy. The elements of the marketing model allow the company to understand the background surrounding the business issue objectively and to determine potential dangers and challenges that the company might experience (Elgarhy and Mohamed, 2022). In addition, it might articulate the strong sides of the existing situation that the organization should develop to achieve better business performance (Elgarhy and Mohamed, 2022). In other words, the specific marketing model allows the organization to evaluate the context in the sphere and to elaborate on the methods that lead to the maximization of the companys profits (Elgarhy and Mohamed, 2022). The 7 Ps of marketing is one of the examples of tactic planning that business leaders use to find the optimal solution for the organization.

The 7Ps marketing model developed gradually, and initially, it was focused on selling products, not services. The initial models four main Ps centered around promoting products and satisfying the customers needs. This model was extended by Pitner and Booms, who added several other Ps to the description of the model, including processes, physical evidence, and participants or people (Kwok, Tang and Yu, 2020). As a result, business leaders could apply these 7Ps of marketing to promote the services they propose to their customers, products, and various types of training (Kwok, Tang and Yu, 2020). Therefore, the 7Ps of the marketing model allows business leaders to work with the extended list of categories that include all types of services and products, making this model universal.

The notion of product in the 7Ps of the marketing model refers to the things or services the organization produces. In some cases, the combination of the product and the service is analyzed, depending on the companys specifics (Saha, 2020). The product evaluation allows the company to see whether clients buy it and whether the competitors provide them with similar or better options (Saha, 2020). The review of this category discusses the benefits of the particular companys product over its competitors and the details surrounding its promotion offline and online (Yaghoubian et al., 2018). For instance, this category evaluates the presentation of the product or services the company provides to its clients.

Price is another vital component in evaluating the product according to the 7Ps of the marketing model. It is one of the significant characteristics that clients consider when they decide whether they want to buy the product or prefer its competitor (Young, 2017). The price is usually influenced by the placement of the business, its online or offline representation, the logistics, and the peculiarities of the distribution chain (Young, 2017). Therefore, these objective aspects should be discussed in the analysis of the price of the product the company provides to its target audience.

Promotion is a vital part of the business tactics that ensure that people will learn about the particular product the company proposes to them. Without promotion, the target audience will not be aware of this product, and this category includes the quality of the product and its price (Young, 2017). Advertising is the primary method of promoting the product or the service the business leaders should use in applying the 7Ps of the marketing model.

People are also essential to product promotion because the company should understand its target audience. The rise of the product or service should focus on the group interested in buying it (Young, 2017). Therefore, the company should interact actively with people who are its customers to understand their desires, views on the quality, and expectations from the product they buy (Young, 2017). It shows that establishing a solid connection with clients is the vital step in applying the 7Ps of the marketing model.

The process is also an integral part of the discussed marketing model, reflecting how people learn about the product, buy it, receive it, and use it. The entire process should be interconnected, and the company should provide its customers with a positive experience they would like to repeat in the future (Kwok, Tang and Yu, 2020). It is one of the most important things in creating a loyal target audience that has preferred the product of one company or brand over others for years.

The last component of the 7Ps of the marketing model is physical evidence. This category reflects the companys customer experience (Kwok, Tang and Yu, 2020). In this case, how the store is designed and how the staff looks and communicates with the client are critical because they allow people to feel that they made the right choice (Kwok, Tang and Yu, 2020). In other words, all components of the buyers experience are critical in the formation of the public image of the company, which is an integral part of its popularity and business success.

At the same time, there are certain limitations in using the 7Ps of the marketing model that restrict its use and practical application. The objectivity of the data that business leaders use to conduct the analysis is one of the reasons that lead to controversies in the application of the discussed model. It is possible to illustrate this hypothesis with the following lines from the article by Klarmann and Feurer:

In empirical marketing research that does not rely on fully randomized experiments, control variables are an important tool to rule out rival alternative explanations for the observed relationships. Despite their importance for causal inference, control variables often receive little attention from either applied researchers or methodologists. At the same time, overviews of control variable practices in neighboring disciplines demonstrate that researchers struggle with selecting, analyzing, and interpreting control variable results (Klarmann and Feurer, 2018, p. 26).

This excerpt shows a need to conduct a detailed and objective investigation that precedes the use of the 7Ps of the marketing model. Otherwise, the evaluation results will not be precise and realistic to satisfy the needs of the company and meet the goals of the target audience.

Conclusion

7Ps of marketing is one of the most widely used models in business that satisfy the needs of businesses and allow the companies to evaluate the interests of their clients. The initial emphasis in using this marketing model is on making tactical decisions that satisfy the markets desires in general and clients in the short-term. At the same time, it is essential to remember that the notions of tactic and strategic planning are interconnected, and business leaders develop tactical plans based on more general strategic assumptions. The investigation shows that the 7Ps of marketing reflect that all business processes are interconnected. It is impossible to elaborate general strategic plans that describe the companys development in the long-term perspective without referring to the tactical needs of the target audience and the abilities of the business to satisfy them.

Recommendations

It is vital to remember that the companys business performance should always remain client-centered. Therefore, using the 7Ps of the marketing model should also be consistent with focusing on the customers needs and market requirements. The focus on the target audiences interests allows leaders to apply the 7Ps of the marketing model consistent with the practical goals the company articulates. The main recommendation for leaders who work in marketing and use the discussed model in the business situations they face is to find the balance between the interests of the company and the needs of the target audience.

Another vital recommendation concerning the use of the 7Ps model of marketing is the importance of using objective and relevant information for the analysis. The prior investigation into the product, promotion, price, place, people, process, and physical evidence that constitute the main elements of the discussed strategy is essential. The relevant data allows the leaders to understand the context connected with their business situation in minor details that determine the tactic and the strategic planning in marketing. For this reason, using detailed and relevant information about the context and product is critical to elaborating a successful evaluation plan.

Reference List

Elgarhy, S. D. and Mohamed, L. M. (2022) The influences of services marketing mix (7ps) on loyalty, intentions, and profitability in the Egyptian travel agencies: The mediating role of customer satisfaction, Journal of Quality Assurance in Hospitality & Tourism.

Klarmann, M. and Feurer, S. (2018) Control variables in marketing research, Marketing: ZFP  Journal of Research and Management, 40(2), pp. 2640.

Kwok, L., Tang, Y., and Yu, B. (2020) The 7 Ps marketing mix of home-sharing services: Mining travelers online reviews on Airbnb, International journal of hospitality management, 90, p. 102616.

Saha, M. (2020) Customer engagement with 7 Ps of marketing, SSRN Electronic Journal, pp. 1-6.

Yaghoubian, S., Ali Jahanib, M., Yazdani-Charati, J. and Mahmoudi, G. (2018) The role of marketing mix (the 7 Ps) in patients attitudes to Iranian hospitals based on their kind of ownership (case study in Iran), International Journal of Healthcare Management, 13(1), pp. 268-272.

Young, D. (2017) A short guide to marketing model alignment & design: Advanced topics in goal alignment  model formulation, BookBaby.

Introduction

This paper aims to propose the attractiveness of a new hotel at Port Rashid, Dubai. The hotel will be 30 stories, including suites, king rooms, and double rooms. It is expected to cooperate with foreign businesses to offer customers the best food and beverage outlets, Asian and Mediterranean cuisines, as well as diverse entertainment opportunities. The mission of the cooperation between the hotel and other businesses is the integration of unique experiences to ensure that customers would receive a top-notch service. The conditions of the coronavirus pandemic limited many businesses, which makes it especially important to revitalize the industry of hospitality in Dubai.

Branding, Product, and Service Strategy

The recognizability of a brand increases the loyalty of its customers, while a unique product proposition also matters. Considering that a new hotel is proposed, it is important to focus on its unique values and memorable experience it can offer. The location at Port Rashid is characterized by the proximity of the vibrant urban waterfront. The geometry of the buildings is properly structured to meet the needs of both residents and business guests. The floor and seismic systems are advanced in accordance with the latest safety requirements. In addition, the location allows easily and rapidly assessing business centers and entertainments due to a developed transportation system. In other words, the chosen location makes the proposed hotel stand out from its competitors and offers customers a multi-use space.

The attention to customers interests and preferences along with a focus on extending their horizons would be the main differentiation point. For example, guests from Africa would be offered not only traditional Arabian foods and beverages, but also those of other cultures, with the detailed presentations from the staff. Such an approach would ensure individual attention to the hotel residents so that they can feel relaxed. The range of services would be constantly reviewed and adjusted, depending on the season, customer interests, global and local events, and other factors. It is suggested to adopt a 7Ps marketing mix to achieve the recognition of customers. In addition to customization, prices would be flexible due to promotional mixes and discounts, while the timeliness of the service would be the foundation of all the processes. Customers loyalty would be encouraged by means of special offers and cards, and constant staff training would also be a priority.

Marketing Objectives, Target Market, Channels, and Pricing / Selling

Marketing objectives are formulated to guide the promotion of the hotel and communicate its vision. The first objective is to ensure a high-quality hotel experience based on an individual approach to every visitor. The second objective refers to a sound and memorable marketing content. The partnerships with other businesses from different countries compose the third objective, which would contribute to enriching customer experience. As for financial goals, it is anticipated to achieve growth within the budget set within five years.

Another marketing objective is creating business partnerships with the Commonwealth of Independent States (CIS), Israel, the Asian region (India and China), the countries of the Gulf Cooperation Council, and Africa. These countries are largely interested in investing and collaborating with Dubai businesses as they attract a lot of visitors. The fact that Port Rashid is located conveniently and has a well-developed infrastructure allows targeting not only tourists but also business persons and organizations. The team of hotels plays a key role in ensuring that all the processes are smooth and coordinated, and multicultural teams have particular advantages. Therefore, it is expected to create teams consisting of people with different cultural backgrounds, which would promote diversity awareness and more conscious decision-making. The organization of weddings can be noted as one more benefit of business partnerships since they would offer a great variety of entertainment options to satisfy the needs of guests. Beginning with restaurants and bars and ending with pyrotechnic presentations, the hotel would provide many surprises.

The new hotel would target two main categories of customers, including corporate travelers and luxury leisure travelers. The first target audience will be attracted by providing restaurants with Arabian, Asian, and Mediterranean cuisines, spa and pool options, as well as well-designed negotiation rooms for business purposes. Such travelers prefer comfort and timeliness, which are the key valued points in hotels they visit. The second target market of luxury travelers is composed of people aged between 25 and 60, seeking coastal resorts and a high degree of enjoyment. For consumers preferring shopping, the partnerships with malls can be organized for convenience. Special promotional activities with famous brands seem to be beneficial to support the interest of travelers.

Speaking of the channels of communication, online marketing would be used predominantly to reach business and luxury travelers. The modern environment motivates travelers to access the Internet and review websites to look for comments about hotels (Thirumaran et al., 2021). In this connection, social media, including Facebook, Instagram, and others, will be considered as the platforms for promotion. The content of marketing would be designed in a way to engage and educate customers, using appealing visuals and messages. In addition, the opportunity to provide and receive feedback online would be realized. Among the traditional marketing channels, the hotel would apply business cards, creative and business events, and magazine advertisements.

The chosen selling strategy would be based on the destination marketing sales, which implies cooperating with travel agents in other countries to promote the hotel. This strategy is advantageous for business persons, looking for luxury hotels that are located in the areas with advanced infrastructure. The work with tourism business professionals would allow promoting the hotel not only to individuals but also groups. Since some travelers prefer individual planning, a direct sales strategy would be provided to make direct bookings via the hotels official website and global booking systems (Yang et al., 2016). To satisfy the needs of those who want to mix business and entertainment, a cross-promotional sales strategy would require collaborating with shopping centers, conferences, and other events. The pricing strategy would be flexible, depending on the stay days, room types, loyalty cards, and competition. The investments needed for the hotel include $5 million for operation costs and $2 million for establishing partnerships, while the payback of the project is expected within five years.

Conclusion

To conclude, this paper proposes a marketing plan for the new hotel at Port Rashid in the Dubai region, with a great location and infrastructure. Due to business partnerships with various countries, it is expected to create unique experiences for business and luxury leisure customers. Potential customers would be reached via traditional online media sources to ensure their greater engagement with the hotel. The combination of selling strategies would provide various options for visitors, including the destination marketing, direct booking, and cross-promotional sales strategy.

References

Thirumaran, K., Jang, H., Pourabedin, Z., & Wood, J. (2021). The role of social media in the luxury tourism business: a research review and trajectory assessment. Sustainability, 13, 1-13.

Yang, W., Zhang, L., & Mattila, A. S. (2016). Luxe for less: How do consumers react to luxury hotel price promotions? The moderating role of consumers need for status. Cornell Hospitality Quarterly, 57(1), 82-92.

Executive Summary

There is a certain demand for electronic scooters in the market, and their popularity keeps growing. Canadian people also follow the trend and actively use the devices to move across the cities to easily and quickly achieve the final destination. The purpose of this paper is to prove that the company should launch a new product: an electric scooter with a microprocessor to deliver distance efficiency. The scooter will have numerous competitive advantages, and the following paragraphs explore them, the brand name, and the test market. To determine the perspective of the new product, the paper presents a marketing mix that analyzes the product, best options for promotion, price, and place.

Description of the Product and Brand

The new product will be an advanced and highly efficient electric scooter. What will make this product unique is its enhanced functionality  it will have microprocessor chips used in electric autos that provide efficiency in distance and energy. The consumers will receive the following benefits: a fast, safe, and lightweight vehicle that will be convenient enough for storage, cost-efficient, and time-saving. In other words, the owners of these scooters will receive an opportunity to enjoy their way to work or college.

Further, the brand name for the product will be Magna. Since Magna is a highly recognized brand with a good reputation and is respected by customers (Magna, 2022), it is possible to state that this brand name will add specific value to the product and our company. It has unique skills that apply to the creation of the entire vehicle, and Magnas entrepreneurial approach and fundamental principles are pushing the limits of innovation, taking responsibility, cooperating, staying creative, and striving toward progress. Looking ahead, Magna recognizes that mobility is developing more quickly than ever. Excessive regulation, whether in the areas of safety or the environment, as well as changing consumer demands, are major drivers of change. Today, electrification is more than simply a controllable factor in fleet emission management. It serves as a differentiation for OEMs in terms of addressing moral obligation and igniting customer interest. Therefore, our company will benefit from cooperation with such a respected brand, and the final version of the product will be unique and safe and meet all the requirements.

Main Target Market

Electric scooters are a great way for people to get to work or college. Therefore, this products target group will be young adults who live in urban areas with quality roads and either study or have jobs not far from their homes. There are certain characteristics that appeal to the target market of the product. According to the statistics, the predominant age range of users is from 25 to 34 years old (Electric Scooter Share Pilot, 2020), but we can expand it to include customers from 21 to 40 years. Generally, men use the device more often than women, and while the first group comprises 55%, female users are 45% (Electric Scooter Share Pilot, 2020). Considering the income of those who generally buy electronic scooters, the numbers show that about 15% of the target market has earnings of $125,000 annually (Electric Scooter Share Pilot, 2020). Furthermore, 35% of the population used electronic scooters more than 16 times, and 47% used them for practical purposes such as getting from one destination to another quickly (Electric Scooter Share Pilot, 2020). The rate of usage of electronic scooters is constantly growing even though the use of the car or public transport still remains the main means of transportation. Overall, the majority agrees that it is a decent way of transportation for short-distance trips.

Electric scooters have begun to overtake walking and cycling for all trip types, which was previously their major use case. According to data found on Statista, researchers expect the U.S. and European electric scooter industries to be worth $12 billion and project Chinas market alone to reach $6 billion (Carlier, 2021). By 2029, the scooter market will be worth about $32 billion worldwide (Carlier, 2021). The general public is rapidly viewing them as handy, quick, and affordable ways of transportation. Consequently, commuters seeking a means to shorten the last mile to their homes or places of employment are the potential customers for an electronic scooter; another significant market is students on college campuses. Selling the vehicles to commuting urbanites and commuters may represent the best market potential for such quick transportation solutions. Electric scooters are, after all, compact and lightweight enough to transport on trains and buses.

Alternative Purchase Options for Consumers

While electric scooters seem to be rather useful, convenient, and safe, there is a range of alternative options for people who need simple vehicles. Thus, the target customers may choose a mere scooter, an electric bike, a bicycle, or even a moped (Austin, n.d.). The price for these means of transport and their characteristics vary, and young adults may prefer them instead of an electric scooter.

The Main Competitors

There is a certain number of competitors in the market that are necessary to consider. For example, competitors such as Bird Rides, Govecs AG, and Lime are concentrating on the introduction of e-scooter rental services in several nations with a joint venture plan to increase their market share internationally. To achieve that, leading market players are concentrating on a variety of growth tactics, including R&D initiatives, mergers, and the introduction of new products. For instance, Ford and the new lab collaborated in October 2021 to integrate electric car technology into the mobility innovation initiative (Electric Scooters Market Size, n.d.). Helbiz launched innovative standing electric scooters in November 2021 in preparation for establishing a new racing league (Electric Scooters Market Size, n.d.). Some of the major competitors are also Vmoto Limited, Yadea Technology Group Co., Ltd., Hero Electric, and Terra Motors Corporation.

Further, the e-scooter industry is divided into three battery categories: sealed lead acid, lithium-ion, and nickel metal hydride (SLA). Over the projected period, the lithium-ion battery market is anticipated to grow at a strong CAGR of 10.4% (Electric Scooters Market Size, n.d.). The need for Li-Ion batteries has increased as a result of rising environmental consciousness and their outstanding quality over encased acid and NiMH batteries. (North America Electric Scooters, 2021). The introduction of these batteries has raised the cost of scooters in emerging nations since they are more expensive than the other two. These batteries have high-discharge cycles, which protects them from harm.

Positioning Strategy

Currently, the target market needs a safe, quality, convenient, lightweight, not expensive, and quick mode of transport, and the electric scooter can meet these needs. Scooters have now started to replace having to walk and bicycling for all trip types, and the average person increasingly sees them as practical, quick, and affordable vehicles (Nikiforiadis et al., 2021). Therefore, the scooter meets the target markets primary needs to quickly and easily reach the destination in a short matter of time  the product will be able to get a high speed and drive for 200KM. Since the potential customers will own the scooter rather than rent it, the question of transportation is crucial. This scooter will be a lightweight device that will be comfortable to carry with them. It also has to be compact due to the fact that the consumers will most likely want to leave it in the workplace or any other place to use it after they finish their business (Sanders et al., 2020). Moreover, the product will provide the clients with a sense of security because they will not have to worry about charging it too often and get anxious that the battery might be low during the ride.

Parity and Difference

There are several similarities and differences with the competitors that need to be considered in order to market the product successfully. For example, the GoTrax GLX V2 has a 250W power and 12 miles range which is similar to the characteristics of Magnas product (Prospero, n.d.). Still, it requires more charge than the regular vehicle, which is the main distinction. The Segway Ninebot Kickscooter Max is a severe competitor because it can travel 40 miles on a single charge, which is twice as far as many other scooters batteries can (Prospero, n.d.). This is also a treat since the Magna scooter has a similar quality, but it stands as the competitor in the price affordability and more lightweight device. The same situation is with another competitor Unagi Model One; despite its great design, it costs significantly higher and is hard to carry around (Prospero, n.d.). Even though there are several models of scooters that can be easy to take everywhere, that are fast and cheap, Magnas device has an important distinction.

The Products Most Distinguishing Feature

There are specific features that will distinguish the product of Magna from other competitors. First, such an electric scooter will be a new and high-quality item. Its microprocessor chips from electric cars will deliver efficiency in terms of distance and energy. One charging procedure will be enough for a person to use the scooter and drive about 200KM, using 25% less energy thanks to the microprocessor chips. It is also lightweight and does not exceed 40 pounds, making the scooter convenient to carry to any place. Due to these characteristics, the product significantly outweighs the majority of the competitors on the market. Unlike other devices that usually have only one of the mentioned features, this electric scooter will have them all simultaneously. Customers will have an opportunity to travel fast around the city without the need to recharge their scooters too often. Most importantly, it will be compact and lightweight, making it easy to take the vehicle everywhere the person needs to go. Finally, the price of $600 is relatively low, considering all the characteristics and costs of other competitors.

Marketing Mix

Product

The product is an electronic scooter with specific features that are supposed to distinguish it from the other players in the market. Specific characteristics set Magnas product apart from those of its competitors. What makes it different is that the new electric scooter will make use of the same microprocessor processors that people utilize in electric automobiles to achieve efficiency in terms of distance and energy. Thanks to these chips, the scooter will be able to go for much longer distances without requiring additional recharging  energy spending will be 25% less. It is also lightweight, weighing little more than 40 pounds, making it easy to transport to any location. These features considerably distinguish the product from the bulk of its market rivals and add value to it. As for the needs of the target market, it is perfect for busy people who want to get to the place without spending much time in traffic, waiting for their bus, or walking on their own (Investors Business Daily, n.d.). It is also less money-consuming in the long run than using a car or taxi service, which gives it more value than the alternatives. In addition, the main benefits for the target market are the high speed, long-lasting battery, and the affordable price considering all the qualities.

Price

Since the target market is people who strive to have a possibility of reaching their destination such as work and move around the city fast and convenient, the value proposition should be accordingly. The customers appreciate the quality and mobility that the scooter provides, and therefore the value proposition should be Fast and easy through the city. It emphasizes the benefits that the consumers get when they purchase the product at a relatively affordable price and considers all the qualities of the device. The cost for the scooter would be $600, which is the middle option between the most expensive and lowest offers on the market.

Pricing Method

There are several pricing methods to set the price accordingly to the companys and customers needs. The first one is value-based pricing which is precisely what it seems like: it is pricing based on the needs of the client. Value-based pricing is defined more specifically as setting a product or services price on the basis of what the intended audience thinks it is worth (Kotler & Keller, 2016). Value-based pricing allows looking outside rather than within the business or laterally toward rivals. Because the company bases its pricing on the customers perceived worth or what consumers say they are ready to pay, there is a chance that it may charge more than rivals. If they want and can spend more than the competition, that will result in more sales revenue. When using value-based pricing, the primary focus is on the consumer.

Consumer feedback, questionnaires, and interviews are the main methods for gathering customer information for value-based pricing. This focus on the consumer will probably improve the connections with the present clients (Kotler & Keller, 2016). They will value the dedication to aiding them since the company is more aware of their requirements. As a result, according to Kotler and Keller (2016), retention will rise, and there will be a threat to the churn. However, there might be certain complications regarding the pricing method. There is a need to be committed to using a value-based pricing model in order to succeed. It takes time to establish the foundation for measuring the buyer personas. It is harder than it seems to determine customer values, which is why so many businesses use competitor-based methods. As a result, once there is a chosen pricing plan, there will be a need to improve and develop the data. Thus, the process is never fully over, and it is necessary to monitor all the changes.

Place

Distribution Channel

The full distribution channel for the electric scooter will be a dual distribution. When a firm uses dual distribution, it sells its goods both directly to consumers and indirectly through independent distributors and merchants (Sun et al., 2022). They utilize many distribution channels to connect with the final consumer, which expands the products market. The manufacturer may communicate with customers directly while using a direct distribution approach. Manufacturers will select to collaborate with distributors or brokers when utilizing the indirect distribution technique.

By using this technique, businesses directly give part of their duties to mediators. These middlemen often portray the product in front of the final consumer as an expansion of the producer. Distributors usually manage the delivery of the products, whereas brokers typically manage the marketing of the commodity to retailers (Sun et al., 2022). Distributors purchase goods from manufacturers to resell to retailers at a profit. The distribution channel can significantly add value to the target market for many reasons. For instance, the constant development and monitoring of the trends will contribute to the improvement of the product quality and allow a greater variety of people to access the vehicle and buy it.

Strategy

There is a need to use a pull strategy in placing the electronic scooter. It ensures sustained business expansion and allows to maintain supremacy in a certain sector or industry (Corporate Finance Institute, 2021). Moreover, there is a chance to increase loyalty and the base of repeat customers along with the growth of brand awareness and familiarity through consumer interaction. Both social media traffic and sharing should be expanded as well as website traffic from social, organic, and referral sources.

Without spending a fortune on advertising, it is possible to expect the growth of sales and income on a budget. Finally, it will engage customers early in their purchasing journey before they have any idea what they want to buy. Therefore, regarding special consideration of the channel distribution, it is crucial to cooperate also with the firms that provide the rental services of the electronic scooters (Kotler & Keller, 2016). While there also will be an option of direct sale to customers, some of the buyers might find the rental business which will provide the device for the people who want to use it temporarily, which is beneficial for the promotion.

Promotion

The message should portray all the benefits the customer will receive if they buy the electronic scooter from Magna. These benefits will include the fact that there are no ongoing costs for maintenance or replacement parts, and the scooters are strong and resilient. Parents who wish to get one for their children are aware of what a fantastic present it is since it combines convenience and cost-effectiveness with enjoyment. The expensive cost of petrol, oil changes, maintenance, and other ancillary costs associated with owning an automobile or other commercial vehicle (Austin, n.d.) all disappear when one uses a motor scooter as the primary form of transportation. Purchasing a scooter appears to be the natural decision for city inhabitants who commute a few blocks through downtown streets for business or recreation.

Communication Channels

One of the best ways to promote the product is through digital marketing channels. This is also the most effective and widely accepted kind of advertising, allowing to reach an endless number of individuals with the message (Carlevatti, 2021). Digital marketing includes, among other aspects, email marketing, blogging, affiliate marketing, YouTube, online shopping, and Google Ads. All of these are examples of online marketing, one of the most popular channels for advertising.

In relation to digital marketing, the emphasis should be on social media with the brand page. Social media is currently the most effective tool for advertising, allowing to raise sales significantly (Carlevatti, 2021). Magna should regularly share content on social media in an effort to meet new people. There is a need to provide details regarding the advantages and potential worth of the electron vehicle in the post. Additionally, it is necessary to offer test rides and feedback videos.

Conclusion

Overall, analysis of the product, place, price, and promotion identified the specific strategies necessary to use while launching the electron scooter on the market. Considering the benefits of the relatively low cost, lightness, high speed, and long-lasting battery, the device has great opportunities to outstand the competitors on the market and reach the target audience. Using social media and digital marketing for promotion will be the right tactic for targeting potential customers along with dual distribution. The analysis of the competitors and the similarities will allow us to focus on the products strengths and develop a clever marketing strategy that will help reach the target audience. Finally, taking into consideration the customers needs, Magna will be able to strategically plan all the steps and successfully launch the electron scooter based on the provided marketing mix.

References

Austin, A. (n.d.). Choose your e-transportation method  e-bike, trike, scooter or moped. Spinlister. Web.

Carlevatti, J. (2021). Most effective digital marketing channels for your business. Career Charge. Web.

Carlier, M. (2021). Estimated size of the global shared e-scooter market in 2025, by region (in billion U.S. dollars). Statista. Web.

Corporate Finance Institute. (2021). Pull marketing strategy. CFI. Web.

Electric scooters market size, share & trends analysis report by product (retro, standing/self-balancing, folding), by battery (sealed lead acid, NiMH, li-ion), by voltage, and segment forecasts, 2022  2030. (n.d.). Grand View Research. Web.

Electric scooter share pilot. Stakeholder report back: What we heard. (2020). Calgary.

Investors Business Daily. (n.d.). Electric scooter makers see sales opportunities amid the rental boom. Web.

Kotler, P., & Keller, K. L. (2016). Marketing management (15^th ed.). Pearson.

Magna. (2022). Company. Web.

Nikiforiadis, A., Paschalidis, E., Stamatiadis, N., Raptopoulou, A., Kostareli, A., & Basbas, S. (2021). Analysis of attitudes and engagement of shared e-scooter users. Transportation research part D: transport and environment, 94, 102790. Web.

North America electric scooters and motorcycles market research report: By type (motorcycle, scooter, kick scooter), battery capacity (<5 kwh, 510 kwh, 1015 kwh, >15 kwh), battery (lead acid, lithium-ion), application (sharing services, food and grocery, personal users)  industry analysis and growth forecast to 2025. (2021). Prescient Strategic Intelligence. Web.

Prospero, M. (n.d.). The best electric scooters in 2020. Toms Guide. Web.

Sanders, R. L., Branion-Calles, M., & Nelson, T. A. (2020). To scoot or not to scoot: Findings from a recent survey about the benefits and barriers of using E-scooters for riders and non-riders. Transportation Research Part A: Policy and Practice, 139, 217-227. Web.

Sun, L., Jiao, X., Guo, X., & Yu, Y. (2022). Pricing policies in dual distribution channels: The reference effect of official prices. European Journal of Operational Research, 296(1), 146-157.

Intro to marketing

Utility

Marketing is promoting a product or service in the market that allows customers to know and eventually purchase it. It is a must for anyone looking to engage an audience and profit from sales (Godin 26). In addition, marketing helps create a positive company image. Thanks to this, customers become loyal to the brand and willingly interact with it.

Target market and overall marketing strategy

One of the key ways to attract customers is through targeted engagement with them. Modern tools allow companies to select certain characteristics of the target audience: gender, age, interests, location, and other aspects (Armstrong et al. 185). The company spends money on advertising only for this audience, which avoids inappropriate buyers who will not buy anything. Based on the audiences characteristics, it is necessary to build a promotion strategy, that is, ways of communicating with customers. Thus, in a few steps, one can make the audience loyal and disposed toward the brand.

Consumer market segmentation

Within the target audience, there can be several different groups of buyers, which are different from each other, but everyone is ready to buy. In this case, one needs to segment, or divide the audience and interact with each segment separately. This will take into account each group of clients interests and offer them exactly what they need. For example, a cosmetics company may communicate differently with male and female audiences to end up selling different products to both groups. Women will see the ads with beautiful and attractive ladies, and men will see some masculine and strong men in the same companys ads.

Product promotion

Good vs. Service

Products and services need to be advertised and sold in different ways. Marketing for products should contain information about their quality, place of manufacture, environmental friendliness, and other factors that depend on the audience. This will help people know more about what they will buy. Advertisements for services should be designed differently and focus on the service providers. Customers must trust the company that provides them to make a choice.

Consumer product categories

Consumer products include food, clothing, footwear, and other categories such as household appliances, cars, motorcycles, and other items. Each type requires a different approach to marketing as it has a diverse audience. Companies should study each group of consumers and only on this basis offer them goods. Undoubtedly, the ads of Toyota and Cadillac will differ. Although these are both cars, they have different costs, so their buyers are various people who want to see particular features and information in ads.

Product quality

The quality of a product depends on various factors: manufacturing method, place of production, technology, environmental friendliness of production, and other aspects. Modern buyers are attentive to quality and choose the most suitable products according to these characteristics. It is important to emphasize quality in your marketing campaign to convince potential customers to buy (Baines et al. 205). Event marketing includes holding exhibitions, professional conferences, meetings, or conventions. Its goal is to give the target audience a taste of the product and evaluate its benefits through direct contact. Another useful strategy is to create a positive image in the media space, using the views of key journalists, experts, and bloggers in a particular field. Internet marketing is also helpful if the target audience is represented in certain communities and blogs. One can prepare review articles or videos about the product, attract opinion leaders, and advertise in thematic resources.

Distribution/pricing

Retailing objectives/directions

Retail is an opportunity to sell products without renting the companys own store, warehouse, or other premises. In addition, it is a chance to place a product so that it can be seen by tens and hundreds of buyers in retail stores. It is undoubtedly important to choose the right retail store where the company can find its target audience. This way, people will see the product they want and will be more likely to buy it.

Pricing strategies/objective

Sometimes sellers and suppliers change and adapt prices depending on what is happening in sales. For example, they can create promotions and cut costs on some popular products to encourage buying. Increasing prices can sometimes work as well: customers will understand that a high price means high quality and are also more likely to give the seller money. However, it is undoubtedly important to design these processes in such a way as to avoid losses and save the companys face.

Works Cited

Armstrong, Gary, Kotler, Philip, Harker, Michael, and Brennan, Ross. Marketing: An Introduction. Pearson Education, 2019.

Baines, Paul, Fill, Chris, and Rosengren, Sara. Marketing. Oxford University Press, 2017.

Godin, Seth. This is Marketing. Penguin Publishing Group, 2018.

Introduction

Worldwide event management has been treated as a tiresome and unappreciative task. The cause is event management is a completely new idea of the present modern and fast world. Events are the programs like a party or an assembly of people for a purpose like a celebration or a political program. Event management is a profession to help people to arrange a public or private gathering. From politics to business everywhere, various types of events are occurring on a regular basis.

To help to arrange these events, various types of event management firms are established. To promote and market these event management services is a tough job. Mostly, the financial success of an event management firm depends on its marketing activities. As marketing is a tricky and challenging job in the field of event management, it becomes more exigent. This assessment report will discuss the marketing of an event management firm named Your-Event and designs its activities.

Mission Statement

• Make every event of the people of the country, who love and arrange programs and gatherings; unique, memorable, authentic, pleasant and successful and thus keep a cordial relation with the people and contribute to their memorable moments through our best efforts.
• The efforts will be directed to the success of the event, not to the budget, and to ensure the best service of event arrangements will be the basis for the consistency and expansion of the business.
• Continuous innovation and creative operations of the business will be directed to ensure customer satisfaction, and the achievement of this satisfaction will be done through the maximum quality of service.
• As a firm, the business has the ultimate goal to maximise profit, but this would be based on achieving customer loyalty, highest quality of service, contribute to improve the meaning of the life of the people in the society and get the competitive advantages in the market through becoming a recognised event management firm.

Vision

Your-Event has the vision to become the market leader in the event management field not only in Riyadh but also in the whole of Saudi Arabia within four years through the best quality of service. It will contribute to each and every event coming to pass in Riyadh with innovative and inventive processes without considering the budget. Your-Event will arrange birthdays, marriage ceremonies, anniversaries, business parties, political and social programs, religious and cultural programs, and any other programs desired by the party as per their wish. Within six years, the business would expand with the vision of a profit-oriented but not profit-driven organisation. The business will ensure maximum customer satisfaction and loyalty by establishing branch offices in almost all states of the country.

Executive Summary

Your-Event is an event management company based in Riyadh which is mainly a customer oriented firm that helps the people and groups of the society to arrange their different types of programs in a meaningful, attractive, memorable and successful manner. It will reduce the hassles and tension of the party to arrange a program and give them the pace for enjoying the party with their guest and have fun.

The target customer will be the rich and middle-class families, business firms of any size and different political, social and cultural organisations of the country. This business has the ultimate opportunity of achieving a higher profit margin and gaining recognition countrywide. The primary objective of this business would be to contribute to the important events of the peoples life of the society and maximise profit without becoming profit-oriented. This objective would be achieved by different effective marketing programs and activities.

The Business and Marketing Opportunity

In present human life, people are busy with their various types of activities. So, it becomes difficult for many people to find out time and pace to plan and arrange an event or a party. Besides, arranging a gathering means the pressure of a lot of works and tasks of hard physical and mental tasks. Nobody is ready to take this pressure. So, they have hired an event management firm and transfer all pressure to them. Event management firms are willingly taking the responsibility to lessen the pressure and get some profit from this. This is the main business opportunity of Your-Event.

The marketing opportunities of Your-Event are

• There is a high demand for event management in Riyadh and all other parts of the country. So, marketing of Your-Event has the opportunity to attract the concentration of the customers.
• The target customer of Your-Event is mostly high and mid income group people who have some extra money to spend on event management. So, Your-Event has the opportunity to gain a good profit.
• There are a few competitors in Riyadh. So, Your-Event could achieve a good market share because of its quality of service and indifference to the budget of the party.

Business Objectives

The primary business objective of Your-Event is to help the people to arrange their different events with success and earn a good profit margin.

There are some secondary objectives also. These are:

• To uphold a good relationship with the people of the society by helping them as per their demand without considering the budget.
• Take the opportunity to have access to the business sector of the country through managing their events.
• To become the market leader within four years by growing the business nationwide and become a profit-oriented firm within six years.
• Achieve customer dependency so that they can call every time they arrange an event.
• Serve the customers with differentiated ideas and offerings and achieve complete customer satisfaction.
• Establishing branch offices in almost all cities and make it easy for the customers to get the service wherever they live.
• Manage effective and efficient management system to ensure financial, marketing, human resource and other resource stability.

Marketing Plan

Market Analysis

• Situation Analysis: The market of event management in Saudi Arabia is a unique one. There are many event management firms, but they have done their operations in a traditional way. That is, the market has the lack innovative event management ideas.
• Marketing Strategy Analysis: Your-Event is a completely new service to a new market segment. This strategy can bring some problems because the market is completely new. But with the help of experienced and skilled employees, Your-Event can remedy this lack. Besides, this strategy has the opportunity of attracting new customers with new and innovative offerings because they are new in the business.
• Marketing Capability Analysis: Your-Event will acquire experienced and skilled employees who will increase the ability of the firm to serve with maximum quality. Besides, it has enough financial, human and other resources to do its marketing program effectively and efficiently.

Marketing Research

Marketing research is a process to acquire, analyse and present information to help the marketing manager to take proper decisions. Your-Event will need some marketing researches to solve some problems.

There are five steps in marketing research. These are:

The marketing research has found some information which would be helpful for Your-Event.

• The service: Your-Event will provide event management service to its customers, ensuring maximum quality. The research found that there is a high demand for the service of Your-Event in Riyadh. People of the country need unique features in their events.
• The consumers: The ultimate customers are busy people. Marketing research explores new market segments, new potential customers and specifies the present customers. Thus the service will be designed accordingly to the demographics of the customers.
• The competitors: There are some existing competitors like restaurants and other event management firms. But none of them is keen to organise events of small size. Research has helped to find out the competitors and to find out the weakness of the present competitors.

Target Market

Here Your-Event has the intention to pursue within the high and mid-income earning people of the country who do not have enough time to plan and organise a party or event. Thus, it has customers of:

• Individuals who have money but have no time to organise an event,
• Business firms who have to arrange different types of programs regularly,
• Political parties who have to run their activities through some programs,
• Social organisations that have to arrange programs for creating awareness about many factors within the people of the society,
• Cultural organisations that have to arrange some recreational programs to amuse the people.

To keep the customers who ask for event management frequently, Your-Event will arrange different types of offers and facilities. For example, membership cards will be allocated to customers who are keen to get every event of them served by Your-Event. The membership can be differentiated based on some factors like time of relationship, budget or profession of the customer. The basic of these activities is to keep a good customer relationship and achieve customer satisfaction and loyalty.

Market Size & Segmentation

Your-Event is targeting the people of Riyadh firstly, and it has the long term goal to have the people countrywide who want to make their occasions unique, successful, pleasant and memorable. The market size is thus small at first but will increase in a huge number in future. The size will vary from area to area. Thus the areas can be differentiated based on the number of customers living. There may be some areas where almost all are Your-Events customers, and there may be some areas where Your-Event has almost no customers. For this reason, the areas should be classified in different categories, give the weight of the area and run promotional activities accordingly to the weight.

Market segmentation can be of different types.

• Geographical Segmentation: Your-Event has the goal to expand its business countrywide. The geographical condition of Riyadh is not equal to other parts of the country. The occurrence of an event is differentiates based on some geographical factors. People of some cities love to arrange parties frequently, while in many cities, parties are rare to arrange.
• Demographic Segmentation: Your-Event has middle aged and aged customers who have a high income or middle-level income of most all gender. So, the demographic segmentation Your-Event is specific.
• Psychographic Segmentation: People who have the psychology of avoiding hassles of arranging events are the customers of Your-Event. There are many people who are not busy but also try to avoid these types of events treated them as a problem.
• Behavioural Segmentation: The people who have the tendency to arrange parties are the customers of Your-Event. There are some people who arrange parties frequently. Some people love to have to party. These people are the core customers of Your-Event.

Market Trends

The key market trends, the directions having momentum and durability, those the event management industry of Saudi Arabia should consider now include the following:

• The rise in income and hence disposable income: Saudi Arabia, as a member of High Income Oil Exporting Countries (HIDOECs), possesses a very high GDP and hence a very high per capita income. Therefore, a relatively high disposable income. The International Monetary Fund stated the per capita income of Saudi Arabia was $23,834 in 2008, and that estimated by CI fact sheet is $20,700 for the same time. The scenario possesses the idea that the country has a relatively high income to expend. Therefore, people of the country will use event management organisations to manage their events better.
• Rise in employment: since the country is innovating new oil reservoirs and since direct foreign investment in both oil and non-oil sectors increases, there is more scope of employment. Therefore, managing important events by oneself became a hard task.
• Rise in a number of multinational countries: since the country is allowing foreign direct investment to reduce the countrys dependence on the oil sector and to manage the oil sector better, there are various multinational countries doing their business. Since the number of MNCs increases, events management becomes more important.

Branding and brand positioning Strategy

To brand the Your-Event, a combination of different kinds of signs, symbols, or designs will be used. The organisation will also leverage brand equity from secondary sources such as organisations, successfully completed events, endorsement from third parties etc.

The brand positioning strategy of the organisation constitutes three parts, namely, the competitive frame of reference, defining point of parity (POPs), and defining and establishing points of difference (PODs). The competitive frame of reference of the organisation includes all the competitors in the marketplace (explained in the competitor analysis). The POPs include offering a similar type of product. The PODs include offering services to every single segment of the event management business and having personal selling.

Marketing Tools

Marketing tools of Your-Event include the website, brochures, personal selling, and demonstration events.

• Web site: the website will be filled with every detail of the organisation, its successfully completed events and upcoming events, prescheduled events arrangements, terms and conditions, and competitive advantages over rivals so that consumers can easily compare and select the organisation for the very purpose.
• Brochures: the brochures will contain various prescheduled events; they will work as a menu so that consumers can make a decision easily.
• Personal selling: employees of the organisation will provide vendor services by going to the consumers place to acknowledge the consumers requirements better. It will further work as a means of promotion.
• News Medias: daily newspapers will be used.

Marketing Objectives

The marketing objectives of Your-Event are as following:

• Maintaining a positive and strong growth per three months period: the Your-Event is aiming to have a 5% growth in every of the first four three months period, that is 20% growth in the first year.
• Increase market penetration: the organisation is determined to grab at least 15% of the market share of the industry.
• Decrease consumer acquisition costs: for being a very new player, the firm is aiming to reduce consumer acquisition costs by 2% in the first year.
• Increase brand equity: for the realisation of its growth, the firm is aiming to have unparallel brand equity.

Marketing Mix

Since the Your-Event is a service organisation, therefore, consumers perceptions also are taken into account and thus, the marketing mix of the Your-Event is as the following:

Product (consumer solution)

The Your-Event will offer a wide range of services to its consumers classified as:

Corporate events

corporate events are completely related to the promotional activities and demonstrations of corporations. The specific services in this category are:

1. Product launches: new product launching ceremony, demonstration of new products etc.
2. Press conferences: any kind of corporate press conference.
3. Corporate meetings: different kinds of meetings such as annual meetings, shareholders meetings, etc.
4. Conferences: basically ideas sharing programs.

Marketing programs

1. Roadshows: roadshows with heavy conveyance requirements.
2. Grand opening events: openings of new branches or outlets, initiation of a new business, initiation of an IT system etc.
3. Campaigns: promotional campaigns.

Special corporate hospitality events

1. Concerts: both indoor and outdoor concerts.
2. Award ceremonies: award ceremonies of every kind from education to business related awards.
3. Film premieres: initiation of new films.
4. Launch/release parties: new product launch or new book release.
5. Fashion shows: fashion shows of any kind.
6. Commercial events: promotional events.

Personal events

1. Weddings: wedding ceremonies of any religion.
2. Birthday parties: birthday parties of any size.
3. Social gatherings: any kind of social gatherings.

Logistics support

Logistics support for any event management organisations.

1. Place (Convenience): the Your-Event will place itself uniquely. It will use a direct marketing channel without intermediaries. The organisation will ensure its exposure by personal selling. There will be some regional offices for rendering services; however, the head office would work as the coordinator of its all outlets.
2. Price (Customer cost): the price for its services will be decided and set according to the consumers requirements withholding fixed costs explicit. The prices will be flexible enough to be agreed upon by the consumers, and the terms and conditions of pricing also will be flexible. The consumers will also be entitled to allowances and discounts based on the size and frequency of the usage of the services.
3. Promotion (Communication): personal selling also will be used as a promotional tool. The salespeople will be highly trained by outsourced training programs. The Your-Event is also aiming to get publicity facility, non-paid advertisement. For advertising purposes, the firm will use newspapers and TV media because both two mediums can reach a very wide consumer base. However, the advertisement will be customised according to intended consumers. The firm will also place advertisements on the internet. The promotional tools of the firm may include frequency programs (i.e., rewarding consumers on the basis of frequency and intensity of services usage), patronage awards (i.e., award in terms of cash or others based proportional patronage), Price-off (i.e., reducing prices) etc.

Marketing Growth

Kotler and Keller (2006, pp. 47) presented three types of marketing growth opportunities. The Your-Event will follow these three opportunities to realise its superior performance and profitability. The opportunities are:

1. Intensive growth: the organisation will first employ its resources to enhance the performance of the present business resulted from high market penetration, market development, and product development.
2. Integrative growth: the Your-Event will integrate all its outsourced firms after two years of operation for better performance and profitability. That is backward integration will take place.
3. Diversification growth: the organisation is also aiming to diverse its operations in unrelated service industry in near future.

Competitor Analysis

The competitors of the Your-Event include both national and international event management organisations, as the following:

• Riyadh Exhibitions Co. Limited: is operating in the Middle East and the North African Regions and organises events of all key economic sectors.
• ADG Trade Fairs: has been organising trade fairs and exhibitions at home and overseas. It further provides event infrastructure management services.
• Al Harithy Company for Exhibitions Limited: offers only business exhibitions.
• Bme Global Ltd.: has been operating as an international business event and Consultancy Company along with offering worldwide business and consumer exhibitions, being an intermediary to form new businesses.
• Bne Global: along with a team of experienced members, the firm arranges trade fairs.
• Dhahran International Exhibition Co.: it has been operating throughout the GCC (Gulf Cooperation Council) and the Far East Countries by offering specialised trade shows.
• Emirates Events: is a network (relationship) building company.
• Ozone International  Jeddah: is the leading trade show organiser in the UAE. It has the goodwill of organising all types of trade fairs, trade shows etc.
• Study Central Limited: helps education providers enlist more students from overseas in the course of rendering a range of elucidations that handle the emerging student markets.
• Terrapin Pte. Limited: provides services of trade exhibitions, business conferences, training and electronic and print publications.

From the above statement, there is no institution that can provide services to each of the four segments described in the product part. So the Your-Event has a competitive advantage over rivals.

SWOT Analysis

Strengths

• Experienced event team: the Your-Event is employing some very experienced employees of existing event management companies by offering them lucrative fringe benefits. Moreover, the high officials of the organisation are well experienced in the field. Thereby, the firm has a strong and experienced event team.
• Excellent public relations (PR): the experienced employees are selected by taking PR as a standard of employment. Furthermore, the officials are also highly equipped with PR. They have contacts with almost a thousand corporate houses.
• Wide range of offering: the Your-Event has a very wide range of services described in the product part. These are only available in the firm because neither of its competitors has such a range of offerings.
• Flexible services: all the offerings of the firm are flexible to be suited to the consumers requirements.

Weaknesses

• Social loafing: society may not easily favour the event management firm. Furthermore, though they are incapable of holding their events, they might not rely on the firm at the initial stage.
• Synchronisation of services: it is completely illogical that the firm could handle every single consumer at a time because of its very first resource base. Even so, the firm will be able to handle every single order gradually.
• Lack of funds: at the very inception of the firms journey, it may face a fund crisis. However, as income increases, more funds will be available.
• Large target markets: meeting the demands of such large target markets will make the firm face difficulties in the very initial stage, but later on, it will be no more a problem.

Opportunities

• Favourable economic conditions: the economic condition of Riyadh is absolutely favourable for the event management firms, as has been described earlier.
• Authoritative supports: the firm can easily get authoritative supports from local authorities on organising events because of being a certified firm.
• Availability of the state of the art infrastructure: the firm is able to seek the state of the art infrastructures such as Badshah Faysal Hall. These very high profile infrastructures are easily available because of their people.
• Growing demand for event management organisations: there are growing demands for event management organisations because day after day, people loss their time to organise their events.

Threats

• Very high competitive environment: the business environment for Your-Event is very highly competitive since it has many international and national event management businesses.
• Weather: the weather may pose problems for some types of events such as an open-air concert, social gatherings etc.
• Lack of logistics supports: if the firm reaches its maximum capacity, then to handle other orders. It will be in problem to arrange logistics support from other organisations.

Conclusion

Your-Event aims to provide the state of the art event management services to corporate bodies, individuals and societies to organise their events as a success. Due to the rise in employment, people have little time to arrange their events, and due to more complexities in the business world, organisations also fail to arrange their events. Therefore, there is a strong demand for event management businesses in Saudi Arabia.

Since the demand for event management is increasing rapidly, Your-Event projected a growth rate of 20% in the first year of its operation along with a high market penetration rate. Usage of personal selling will result in a sustainable competitive advantage for the organisation. News Medias will play a vital role in the marketing tools of the organisation. Your-Event further aimed to realise every growth opportunity within the few years of its operations. If the organisation can successfully transfer its weaknesses too and match its opportunities with its strength, within a couple of years, the Your-Event will become the market leader in the industry.

Bibliography

Griffin, Ricky, Management, 8th edition, Houghton Mifflin Company, Boston New York, ISBN: 0-618-35459x, (2006).

Hitt, Michael, Ireland, Duane, & Hoskisson, Robert, Strategic Management, 4th Edition, South-Western Thomson Learning, Singapore, ISBN: 0-324-041891-2, (2001).

Kotler, Philip & Kevin Lane Keller, Marketing Management, 12th edition, New Jersey: Pearson Prentice Hall, 2006, ISBN 0-13-145757-8.

Perreault William, Cannon Joseph & McCarty Jerome, Basic Marketing, 14th Edition, McGraw-Hill, Irwin, 2006, ISBN- 0-07-240947-9.