A Marketing Plan for The Lowry - Report Example

A Marketing Plan Table of Contents Executive Summary 3 Introduction 4 Marketing Audit and SWOT Analysis 4 Marketing Audit 4 SWOT Analysis 6 MarketingObjective 7 The Core Strategy 8 References 9 Executive Summary The Lowry is a centre where artists display their art and cultural functions. It has theatres, galleries and cultural centres. Apart from this The Lowry also grabs attention due to its architectural excellence. It’s a fact that the management of the cultural and exhibit centre has adopted the technological ways to promote the cultural centre and have undertaken e-marketing strategies to attract audiences, which indicates the strengths, while the external environment indicates economic slowdown, and increasing unemployment rate in UK. The strategic options that the senior management of The Lowry can opt for has been explained by putting forward the marketing objectives. The strategic options would assist in deciding the core strategies further keeping in mind the perfect blend of the elements in their marketing mix, which would support the senior management of the exhibit centre to redefine their structure, implement some new ways of attracting audience and also decide on some control issues. Introduction The Lowry situated in Greater Manchester, England, is a centre of cultural activities. It was inaugurated in the year 2000 by Queen Elizabeth II. The Manchester Docks area was redeveloped to build The Lowry. The building has theatres, art galleries, and studios for music, dance, etc. The Lowry was named after the famous painter of 20th century, called L. S. Lowry. The Lowry House has two main theatres for presenting opera, dance, ballet, drama, jazz, folk, comedy, children’s shows, studio space, and gallery spaces for exhibiting art. The architecture of The Lowry is also innovative and creative, which also makes it a must see tourist destination. Apart from this, a wide variety of cafes, bars, and restaurants are also situated in southern part of the building, which offers a spectacular view of the water body and the Manchester Ship Canal. This marketing plan includes the marketing audit of The Lowry, along with a SWOT analysis, which would give a comprehensive view of the micro and macro environment. This would also assist in assessing the strategic options, which would be backed by the marketing objectives. Further the core strategies would be decided, taking into account the marketing mix ingredients, so that implementations of these strategies are done without any hindrance (The Lowry, n. d.) Marketing Audit and SWOT Analysis The information derived from the marketing audit would assist in formulating the marketing plan (Crane, 1993, p. 25-30). Apart from this, the information would also be derived for conducting a SWOT analysis for The Lowry. Marketing Audit Marketing audit of The Lowry would be conducted in three parts, namely: a) Internal Environment, b) Macro Environment, and c) Micro Environment. a) Internal Environment: Presently the cultural and exhibit centre utilizes e-marketing strategies to build up a strong audience base. The strategic decision of the management of the cultural centre emphasizes on technology and digital framework so as to identify the taste and preferences of the customers and has encouraged them to achieve new heights in promoting art and culture. The management at The Lowry focuses on meeting the expectations of the audiences by interacting with them closely and generate sales through tickets, shops, restaurants, and corporate bookings, attract visitors from different corners of the world (Kazmi, 2008, p. 71-72). The Lowry is run and managed by their senior management body and funds are received from sale of tickets and also through charitable trusts. b) Macro Environment: UK is among the most powerful countries of the world. The Government of UK has taken strict steps, such as 24% budget deduction for the media, sports and culture industry in order to diminish overall financial shortage in the country. So The Lowry belonging to the industry of art, culture and lifestyle, is going is suffer due to this drawback. Economic downfall or recession has constricted the GDP growth by 0.2%. So the purchasing power of people in the country has reduced. Spending on basic necessities has reduced which has lead to obvious reduction in the spending on art, lifestyle or culture (Central Intelligence Agency, 2012). The British culture, art, theatre, music, cinema, architecture, etc is well-known for its exotic quality and appeal. People in UK practice these arts enthusiastically. However, the economic condition of the country has diminished the involvement of the people towards the socio-cultural event to a certain extent. Science and Innovation Investment Framework of the country have stated that growth of technological investment in business will touch a mark of 2.5% within next two years. Even The Lowry has focused strongly on its e-marketing strategies to grab audience attention and pull them towards The Lowry more and more (Marketline, 2012). c) Micro Environment: The customers of The Lowry are the artists, art lovers, and tourists who visit the place not only because of exhibition, plays, or music, but also just to see the architecture of the building, enjoy a dining experience, and witness the scenic beauty of the water body. The Lowry offers services related to culture, art and lifestyle to visitors and art lovers around the world. There are no competitors to this cultural and exhibit centre in Manchester, UK because along with the architecture, the operational functions in The Lowry are also unique and its unique selling proposition (Gitman, and McDaniel, 2008, p. 295). As far as financing of these concerts, and other functions of The Lowry are concerned, is actually done with help from charity. It is a charitable trust and it functions as a non-profit making organization. So the financing comes mainly through sales of tickets, corporate bookings, etc. SWOT Analysis Strengths Weaknesses Architecture and Design Centre for culture, art for the people in UK Attract visitors around the world (USDA, 2008). Not much attention has been paid to the promotional activities for the foreign visitors. The Lowry only represents a place for art lovers, but it also has a number of cafes, restaurants, shopping centres, and hotels. Focus is mainly on culture and art, while dinning and lifestyle is neglected. Opportunities Threats Due to globalization, art and culture of different countries are also intermingling. Not only art lovers but lovers of architecture also visit The Lowry to see the magnificent design of the building. Increasing unemployment in UK Economic slowdown and recession has negatively affected the mental balance of people. Government of UK has reduced 24 % from budget for culture, art and sport (Bohm, 2009, p. 2) Marketing Objective The marketing objectives of The Lowry have been stated below after conducting the marketing audit and analyzing the strengths, weaknesses, opportunities and threats of this exhibit centre. The marketing objectives of The Lowry are: To attain and surpass the expectations of the audience To have a close relationship with the loyal audience and artists who perform in The Lowry. To increase the sale of tickets, shop sale, and corporate booking Create new customers and maintain the existing customers through improved services. Promote the other attractions of The Lowry too along with theatres, exhibitions, etc, such as shopping centres, restaurants, and cafes, as these will assist in generating funds. The offline strategies for marketing should be considered such as posters, brochures, or flyers. This would make The Lowry well-known even among the non-art lovers. Since The Lowry is a major tourist attraction in Manchester, so endorsement of the exhibit centre as a tourist destination is necessary. This would also increase the footfall. Themed cafes and shops selling products and menu is loved by the famous artists would also attract new customer and audience groups who have loyalty to specific art or artist. This would be another marketing objective which would support the core strategies. The Core Strategy The core strategies of The Lowry have been developed after analysing the micro and macro environment and conducting a SWOT analysis of the cultural centre. The focus of the senior management of The Lowry should be on diversification of the services or products offered, in order to grab attention of new target customer groups. This can be done by promoting shopping centres, cafes, restaurants of The Lowry on the water side, rather than just portraying as a culture and art centre. The second strategy should be for sustainability of the institution. Sustainability of grandeur and brand equity of The Lowry can be maintained through retention of old customers and also sponsoring and promoting event in other parts of the country and world to attract new audiences too. This would also increase the footfall leading to increase in ticket sales and booking. The mission of The Lowry is to entertain, enrich, and engage. This indicates that the cultural and exhibit centre would have to flexible in order to continue its grandeur because in order to attract mass audience, the senior management would have to offer not only artistic but trendy souvenirs which would draw the attention of young customers. The theatres and exhibition would have to encourage young talents and sponsor events in universities or schools, so that not only recognition but ticket sales also increases in The Lowry. References Bohm, A., 2009. The SWOT Analysis. Berlin: GRIN Verlag. Central Intelligence Agency, 2012. The World Factbook: United Kingdom. [online] Available at: [Accessed 10 January 2013]. Crane, F. G. A., 1993. Professional Services Marketing: Strategy and Tactics. New York: Routledge. Gitman, L. J., and McDaniel, C., 2008. The Future of Business: The Essentials. 4th ed. Connecticut: Cengage Learning. Kazmi, A., 2008. Strategic Mgmt & Bus Policy. 3rd ed. New Delhi: Tata McGraw-Hill Education. Marketline, 2012. Country Analysis Report: United Kingdom, In-depth PESTLE Insights. [online] Available at: [Accessed 10 January 2013]. The Lowry, no date. Who We Are? [online] Available at: [Accessed 10 January 2013]. USDA, 2008. SWOT Analysis: A Tool for Making Better Business Decisions. Washington D. C.: USDA. Read More