A Marketing Plan for Sunderland International Airshow - Report Example

Marketing Plan of Table of Contents Table of Contents 2 0Executive Summary 3 2.0 Market and Situation Analysis 4 2.1 SWOT analysis 4 2.1.1 Strengths 4 2.1.2 Weaknesses 4 2.1.3 Opportunities 5 2.1.4 Threats 5 3.0Market Segmentation and Customer Analysis 5 3.1Market segmentation 5 3.2 Segment characteristics 6 4.0Objectives and Goals 6 5.0Strategies and Tactics 6 5.1 Pricing Strategy 6 5.2 Product strategy 7 5.3 Place strategy 7 5.4 Promotion Strategy 7 5.4.1 Advertising 8 5.4.2 Selling 8 5.4.3 Sales Promotion 8 5.4.4 Public Relations 9 6.0 Budgets and Controls 9 6.1 Sales, expenses and marketing budgets 9 6.2 Contingency plans and risk management 10 References 13 1.0 Executive Summary Airline shows are nationalistic, family oriented events that draw a large number of individuals every year. Air shows have ended up about as prevalent as Major League Baseball – they are currently a privilege of-summer, a National side interest. The up close and individual collaboration with saints of flight, the touching wistfulness of World War II Warbirds and the exciting site of the thrilling aerobatic exhibitions are only a couple of reasons why Americans adoration aviation expos. Swarms going from 50,000 to 150,000 individuals every day invest hours wandering the flight line and taking in the inviting, easygoing air that encompasses an airshow. Today, like never before, associations are profiting by the chance to achieve general society through the airshow venue. Airshows offer an exceptional advertising viewpoint that ventures far from the conventional "Madison Avenue" approach and to a one-on-one method for open effort. Through this medium, associations can achieve a large number of individuals in a solitary geographic region while likewise picking up perceivability with business and group pioneers on a provincial and national level. Sunderland international airshow has proficient experience, industry in-sight and a learned, proficient group to initiate a fruitful airshow based effort and promoting system. We offer a mixture of limited time and advertising administrations customized to showcase your associations item or mission. By arranging on location promoting projects that expand brand character and customer mindfulness, AirSupport offers organizations a special situation in which to focus on their optimal demographic. Before making a flight effort program for an association, AirSupport conducts an achievability study. The study gives vital data about occasion choice and crowd size, media opportunities, planning and degree of profitability. Furthermore, AirSupport conducts a post-occasion investigation that evaluates all results of the occasion. This gives an activity arrange for that addresses ranges of change and getting ready for future airshows. Key components, for example, venue choice and site area are the building pieces for an effective airshow based advertising project. AirSupport draws on many years of consolidated industry experience - arranging with every airshow venue to guarantee your associations perceivability and amplify rate of investment. 2.0 Market and Situation Analysis 2.1 SWOT analysis In order to create a suitable marketing plan for Sunderland international airshow, a SWOT analysis for the organization has to be carried out. The SWOT analysis will include the strengths, weaknesses, opportunities and threats for the associated with the show (Zeithaml, Bitner, & Gremler, 2006). 2.1.1 Strengths The strengths of the airshow include; A high number of audience is attending the show. For the past few shows, the show has shown a high number of track records. The profile for the program for the show is high 2.1.2 Weaknesses The weaknesses associated with the show include; Mainly, the show is a two-day event. This means that there are minimal economic benefits related to the show The audience are allowed to come with their drinks and food. This means that there is limited income from food concessions. 2.1.3 Opportunities The opportunities associated with the show include; Maximizing income from secondary spending such as rides and food concessions The audience attending the show are willing to pay for the services offered in the airshow. 2.1.4 Threats The treats associated with the airshow include; Mainly, the show is reliance on public funding. There is the threat of local government recognition The show is ultimately under-resourced. 3.0 Market Segmentation and Customer Analysis 3.1 Market segmentation Most air shows characteristic warbirds, aerobatics, and shows of current military airplane, and numerous aviation expos offer an assortment of other aeronautical attractions too, for example, wing-strolling, radio-controlled airship, water/slurry drops from firefighting flying machine, reproduced helicopter safeguards and sky plunging. Master aerobatic airship have influential cylinder motors, light weight, and enormous control surfaces, making them equipped for high move rates and increasing speeds. A gifted pilot will have the capacity to climb vertically, perform tight turns, tumble his flying machine end-over-end and perform moves during circles. This means that the market segment for this show aims at people who are more interested in aircrafts and most importantly military aircrafts. 3.2 Segment characteristics The airshow will take place in Roker and Seaburn seafront. The two sites offer a fabulous coastline that is perfect for the airshow. Mainly, the area is occupied by different people who vary in terms of age and gender. Most importantly, the two areas attract tourist due to their golden beaches. This is very important for the airshow because both the locals and the tourist will attend the show increasing the profits attained from the show. 4.0 Objectives and Goals The Sunderland International airshow is one of the largest seafront airshows in the United Kingdom. The main objectives and goals for the show is to showcase some of the modern military aircrafts. The participation is alongside war-birds, the best civilian acts and a bevy of classical jets in UK. Additionally, the show will incorporate flying display that will be accompanied by ground events such as fireworks and live music. 5.0 Strategies and Tactics 5.1 Pricing Strategy The airshow will use the market-oriented pricing strategy. Through the use of this strategy, the price of the tickets for the airshow will be set as per the analysis of the target market (Shankar & Carpenter, 2012). However, based on previous pricing for the show, during the launch of the show, adults will pay £30.00 while child will pay £15.00. However, during the second day of the show, people are expected to pay £10.00 per person. Additionally, there will be a Family Ticket, which will cost £30.00 (2 adults, two children). On the second day, there will be a hospitality package that will cost Adult - £60.00 and child- £25.00. The hospitality package will include Informal comfort in the Spitfire Lounge Marquee. All of the tickets for the show will be sold online and trough some of the major media outlets in the area. Nevertheless, there will be a restricted number of tickets. This is to motivate people to buy the tickets early hence ensuring more sales. 5.2 Product strategy The main product for the airshow will be showcasing the aircrafts and some of the flying techniques. However, in order to maximize the profit, the airshow will incorporate some other activities (Shankar & Carpenter, 2012). There will be concerts in the show where live bands will perform. Apart from the live bands, food staffs will be sold in the airshow. Additionally, the attendants will be given a chance to experience flying. Through the incorporation of the above, the airshow will ensure that it does tap all the sources of profit present. 5.3 Place strategy In order to determine the distribution method necessary for the airshow, it is very important to understand the needs of the customers who are attending the airshow. Mainly, most of the customers attending the airshow are there to see the showcasing and have a taste of the experience associated with military aircrafts. However, by placing the airshow in Roker and Seaburn seafront, there is success in acquiring both local and international customers. 5.4 Promotion Strategy So as to ensure that there is spread of the word pertaining the airshow, promotion strategy has to be used. The promotion strategy will involve advertising, selling, sales promotion, and public relations. 5.4.1 Advertising The main purpose of advertising is to make the product name familiar to the public and attract customers to find out more about other services being offered. For advertisement in the Sunderland international airshow, the social media will be the main medium. The main social media outlet will be Facebook. The reason as to this is because this is a direct marketing at bits best. Facebook is the best medium for advertising because it connects the show to a world of potential customers who view the show from a different perspective (Carter & Levy, 2012). Instead of seeing the show as ‘trying to sell,’ Facebook can view the show as a show that is in touch with people on a more personal level. This helps to lessen the division that exist between the airshow and the customers, which in turn presents a familiar and appealing image of the airshow. 5.4.2 Selling Selling involves the exchange of goods and services for a specified sum of money. However, the Sunderland International Airshow mainly aims at selling some of its services that include flying shows. In order to appeal to all customers, the show has provided different packages. For instance, for a normal package, adults will pay £30.00 while child will pay £15.00. During the second day of the show, people are expected to pay £10.00 per person. Additionally, there will be a Family Ticket, which will cost £30.00 (2 adults, two children). On the second day, there will be a hospitality package that will cost Adult - £60.00 and child- £25.00. 5.4.3 Sales Promotion Sales promotion involve some of the activities that promote the purchase of products and services (Zou & Cavusgil, 2002). In order to promote the sale of tickets for the Sunderland International Airshow, only limited tickets are available. There will be the production of only 4000 tickets for all event. Through this strategy, the airshow ensures that people buy the tickets on time. Additionally, the tickets will be on offer pack where purchase of tickets at the gate during the opening and the second day will cost the customers more than purchasing the tickets before the show. There will be a £ 10.0 increase for all tickets purchased at the gate. 5.4.4 Public Relations Public relations involve the sustained and planned effort to maintain and establish a mutual understanding between the public and an organization (Hawkins & Mothersbaugh, 2009). For the case of the Sunderland international airshow, there is a mutual understanding that is enjoyment. The show has been going on for a while, and this has ensured that there is a good relationship between the public and the show. People mainly come to the show for enjoyment purposes meaning that the main goal of the show is to ensure that the clients have the best of their time. There are professional coordinators present in the show who ensure that every client is satisfied in terms of the information about aircrafts and the entire airshow. 6.0 Budgets and Controls 6.1 Sales, expenses and marketing budgets The total expense budget for the Sunderland International airshow is £ 12,000. This budget will cover the partial costs of advertising, the additional staffing for managing the show. However, the surrounding shops at hotels in the area will contribute a percentage of the advertising, in-store, and flyer marketing budget. Below is a pie chart displaying the budget for this market plan; 6.2 Contingency plans and risk management Risk awareness obliges that each project colleague be mindful of what constitutes a danger to the project, and being delicate to particular occasions or elements that could affect the venture in a positive or negative way (McKeever, 2012). Risk distinguishing proof comprises of figuring out which dangers are prone to influence the project and recording the attributes of each. Risk correspondence includes bringing danger variables or occasions to the consideration of the venture director and project group. The Sunderland International airshow project manager will distinguish and report known danger variables among formation of the Risk Register. It is the Sunderland International airshow venture chiefs obligation to support the project group. Furthermore different partners with the danger ID, and to record the known and potential dangers in the Risk Register. Redesigns to the danger register will happen as danger components change. Risk administration will be a point of examination during the consistently planned project gatherings (Hawkins & Mothersbaugh, 2009). The Sunderland International airshow project group will talk about any new Risk elements or occasions, and these will be audited with the Sunderland International airshow project manager. The project manager will figure out whether any of the recently recognized danger variables or occasions warrant further assessment. Those that do will experience hazard evaluation and danger reaction improvement, as fitting, and the activity thing will be shut. Whenever before the project, any danger variables or occasions ought to be brought to the consideration of the Sunderland International Airshow task director utilizing Email or some other type of composed correspondence to record the thing. The venture chief is in charge of logging the danger to the Risk Register (McKeever, 2012). Notice of another danger ought to incorporate the accompanying Risk Register components: Description of the danger variable or occasion, e.g. clashing task or operational activities that place requests on venture assets, startling study results, delays, and so forth. Probability that the occasion will happen. Case in point, a half risk that the seller wont have a creature settlement that meets the criteria accessible. Schedule Impact. The quantity of hours, days, week, or months that a danger component could affect the timetable. As an illustration, the creatures require an extra three months to meet age necessities. Scope Impact. The effect the danger will have on the imagined achievements of the venture. Postponed creature conveyance may bring about a lessening in the quantity of studies that can be finished in the agreement time of execution. Quality Impact. A danger occasion may bring about a diminishment in the nature of work or items that are created. As a sample, absence of financing brought on by expense invades may bring about the diminishment of the study size and effect measurable strengthening References Carter, B., & Levy, J. (2012). Facebook Marketing: Leveraging Facebooks Features for YourMarketing Campaigns. Que Publishing. McKeever, M. P. (2012). How to write a business plan. Berkeley, CA: Nolo. Pinson, L. (2008). Anatomy of a business plan: A step-by-step guide to building the business and securing your companys future. Tustin, CA: Out of Your Mind & into the Marketplace. Finch, B. (2013). 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