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Marketing Plan

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by

Robert Burgess

on 15 November 2012

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Transcript of Marketing Plan

4850 Executive Summary Events Current Marketing
Situation Target Market Customer Analysis Positioning - Events 4850 will position itself as an affordable custom event planning company that listens to it's customers and caters to their needs. Objectives and Issues Marketing Objectives:

Achieve first year sales volume of 5,000 members, gain 50 percent brand awareness among targeted consumer segments by the end of the next year, and establish strong channel relationships with music venues, event halls, and conference centers within 4 months.

Financial Objectives:

Restrict first-year losses to less than $5,000, reach the break-even point within 2 years of introduction, and earn an annual rate of investment of 15% within the first 5 years.

Societal Objectives:

Earn recognition by local magazines, newspapers, and magazines such as Creative Loafing and the Atlanta Journal Constitution. Have multiple sponsorships at local music venues and clubs. Build community relations by offering discount promotions and ticket sweepstakes and giveaways. Marketing Strategy 4850 Events’ positioning will be based on top quality venues, the highest level of customer service, and superior innovation.
We will target selected groups for initial entry specifically 18-25 year olds.
We will use creative messages on radio, magazines, the internet, and other media to reach targeted segments.
Tiered pricing will help us establish our brand as unique from competitors. Marketing Mix/Programs Pricing:
Based on customer perceived value
Differentiation in pricing by offering membership packages.
Members pay a monthly subscription fee Financial & Operational Plans First Year Expenses
Overhead
Marketing
Typical Event Budget
Sales Forecast Metrics and
Implementation Control:
In order for Events 4850 to flourish as a custom events service provider we must have firm control and understanding of our current and future marketing status. Therefore, we will continuously monitor customer satisfaction via social media (i.e. Facebook, Yelp, blogs, etc.), membership growth and renewals, in addition to the number third party collaborations and partner longevity. Events 4850 is a crowd-sourced and membership-based event planning company.


Cater towards the existing nightlife fanbase in the Atlanta area.


Three packages of involvement, allowing customers to simultaneously and democratically create a custom experience they desire.

We will partner with outside contracted companies.


While there are numerous nightlife event planning companies in the Atlanta area right now, they are less flexible, and don’t offer levels of membership.


We intend to raise awareness of our packages through social media, grassroots campaigns, viral videos, and survey-based mailing lists. The Internal
Situation The External
Situation The Market
Situation Our Mission
&
The Vision Mission Statement Our mission at Events 4850 is to
consistently provide our customers
a high standard of quality events
month after month by promising
customizability and exclusivity. Vision Statement To revitalize the event planning
industry by changing the way people
and companies across the United
States view the industry. And to be the number one recognized brand for
exceeding customers’ raised
expectations. Service Offerings 3 Different
Memberships Subscription Options
An Event Every Month
Surveys Requesting Feedback
Performers
Venues
Themes
Food/Drink
Transportation Gold
Silver
Bronze Resources & Relationships RESOURCES
Limited Office Space
Experienced Promoters
Online Website
Mobile Payments RELATIONSHIPS
Catering Companies
Venue Owners
Musicians/Performers
Party Supply Companies
Electronic/Music Equipment
Cleanup Crew Promotions: Focus heavily on advertising & some direct marketing Social Media: Facebook, Twitter, YouTube, Instagram and blog.
Newspaper Ads
Mobile Marketing/Email List
Personal Selling
Sales Promotion: 20 % discount on Silver membership package
Fliers: 20,000 fliers Contingency:
Difficulties and Risks-
•Sustaining memberships.
•Securing venues and entertainment
Worst Case Scenarios may include:
•Finding and maintaining an audience
•Zero support or synergistic relationships with vendors or venues.
•Competitors arise offering similar services at a lower cost or higher quality.
•Closure as a response to poor sales. Market Definition Customer Needs Competitive Analysis "Blended Event Planning"
No Direct Competitors 2. Exclusivity 1. Customizability 3. Guaranteed
Satisfaction - 18-29 year olds interested in EDM nightlife in the Atlanta area

- Gen Y base their status on influence rather than money

- very tech-savy with 6/10 owning a smartphone

- value “online capabilities like crowdsourcing, customization and most importantly their ability to learn and share with others." Two Closest Markets:
Entertainment Event Planners
Entertainment Event Venues 1. Entertainment
Event Planners 2. Individualized
Event Planners 4. Clubs/Parties 3. Concerts &
Music Events 1. Cutting Edge Social Technologies
-We will continue to integrate them into our business model. Whether it's using Kickstarter for crowdsourcing, SurveyMonkey for surveys, MailChimp for newsletters, or Facebook for invitations. Trends Technological
Mobile Payments
"Big Data" and Analytics Socio-Cultural
Women Staying Single Longer
Social Media Popularity Grows Further Economic & Political
4.19% Population Growth in Atlanta
Negative Effects of Recession
Potentially Expiring Tax Cuts Overhead First Year
Expenses Marketing Total: $129,1
Yearly Costs
Startup/Legal
Salaries
Monthly Costs
Utilities
Rent Total: $3,900 Sales Forecast Event Budget Average: $10,550 Total Revenue: $494,000 - 21% of the U.S. population pays to see at least 1 concert a year- 16% of which attend more than 5 a year. - In 2011, EDM was the highest growing mainstream genre in the U.S. played by nearly 75% of commercial radio stations by the end of the year (up from 24% in 2004). - Ticket sales in the concert industry have grown 400% to $4.6 billion in the last 10 years in North American alone. 2. High Quality Service Providers
- While our members may make the final decision on which services to use and who to book for each event, it is up to us to make sure that the initial choices provided are reliable and of the highest quality within the budget. SWOT Strengths: Customization No Direct Competitors Weaknesses: Difficult to Predict Markets
Quickly built customer base
Low Barrier to Entry Opportunities: Large Economy
Large Young Adult Population
Mobile Payments
Selling Off Data Threats Declining Economy
Expiring Tax Cuts Keys To Success Quickly establishing a large enough initial customer base
Staying aware of local trends Building quality relationships with vendors
Having a quality staff who can promote and sell memberships Building brand awareness
Understanding the specific limitations of current events held across the city.
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