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Mind your Business - 08 December 2003Marketing the Glastonbury FestivalThe News
TheoriesMarketing is defined as the process by which firms seek to identify and predict the wants and needs of consumers and meet that need by the provision of relevant goods and services at a profit that will satisfy the key stakeholders. At the heart of marketing are the business's objectives. These objectives can be broad in nature or relatively specific. For example, some firms may decide that the focus of their marketing activity in the coming year will be to break into an overseas market, to boost the sales of a specific brand or to develop the business so as to boost shareholder value. Whatever those objectives, the marketing strategy is geared to help the business to achieve its objectives. The marketing function is very much a philosophy rather than a particular action. In the case of Glastonbury Festival Limited, there is a very strong sense of social responsibility that has run throughout the history of the event. This social responsibility has to be communicated and embraced by all those who become associated with the event as exemplified in the quote from the festival's commercial manager. Once the objectives have been set, the strategy can be devised to help best meet those objectives. This will almost certainly involve some or all of the so called 'Ps' - some textbooks prefer to give 4, others give 7. The business will have to consider how to manage the price, product, promotion, place, people, packaging and process if they are to satisfy consumer needs and make a profit while achieving its objectives. Once the strategy is in place the business will be constantly evaluating the success of the strategy in meeting its objectives. This may be through further market research of some description - focus groups, user surveys and so on. The data from this research allows the company to evaluate the success of its strategy and, if necessary, introduce changes to make the strategy more successful. The term 'process' in the definition intentionally highlights the continuous cycle of developing strategies, monitoring and evaluating them and the re-development that will always be in progress.
QuestionsRead the Glastonbury Festival Marketing Plan [PDF, 93 KB]. Using the marketing process diagram above as a basis for your analysis, discuss the marketing strategy employed by Glastonbury Festival Limited and comment on the factors that have influenced this strategy. Related Web sites for researchGlastonbury Festival's Marketing Strategy [PDF, 93 KB] Mark SchemeThe question is very open ended - by this we mean that there is little in the question that might guide you towards some form of structure so you will have to think carefully about the best approach. This involves planning your answer. When planning, think about ensuring that your answer is logical - each paragraph follows from the other, that it has an order to it and that you present your argument in a coherent manner. Thinking it through beforehand is very important - it helps to avoid irrelevances and your points jumping from one thing to another, apparently unrelated as you think of them! The basis of your answer is the marketing process diagram, this is the clue in the question about the structure you can use. At the outset, it is always a good idea to give a clear definition to demonstrate that you understand what marketing actually is! Once you have given this, you need to offer a brief introduction to the context of the question - in this case the Glastonbury Festival. This is not an excuse to give a three page essay about the wonderful time you had at last year's festival! The contextual explanation will involve a very brief history of the festival and the type of market that the festival attracts. Your answer must be rooted in an understanding of the business issues surrounding the subject matter. Explain what the strategy adopted by the organisers was; what were the business objectives? What influence on the strategy did the philosophy of the company have (if any)? What was the key objective of the strategy and why was this objective so important to achieve? How did the business seek to communicate the strategy - who did they have to involve for example? The strategy talks about the target market being mostly from the South West of England - how did this information influence how the strategy was developed? What types of media did the company aim to use to communicate the message and why would they use that particular media? If you seek to try to address some or all of these questions you will be on the way towards producing a coherent response - remember to use appropriate terminology where possible and to think about what order you might need to address these issues. You can then finish off by incorporating a paragraph commenting on the success of the strategy - the other links to news items about the festival may help you in this respect. You might also offer a comment on what might need to be done to further develop the strategy since it makes it clear that the strategy was for 2002 and beyond! |