The Strategies For Brand Recovery From a Bad First Impression - Assignment Example

REFLECTION ON NGV EVENT Prepared by (Student’s Name) Course Name University Name Professor’s Name In our tour at the NGV, it is important to note first hand that the entire process of observing consumer and patron-based behaviours were solely dependent on components related to design thinking. Given the setting of the event, it was necessary to use the SWOT analysis to evaluate data collected during the night in order to come up with effective and efficient potential recommendations for the entire event. In essence, SWOT analysis was deemed to be a very crucial marketing tool that was employed in the very first empathize phase for purposes of helping the team to identify strategic goals that could help improve on the event’s patronage of Friday Night. This was to be attained using the very numerous experiences showcased by the patrons while at the same time encouraging the overall participation of a wider audience within the event. The use of both SWOT analysis and TOWS helped in the immediate development of an observation data collection technique for purposes of improving on the team’s individual’s experiences on the activities relating to the Friday Night event and thus, ensuring to avail an effective and efficient insight into the customer’s needs. In essence, TOWS analysis in combination with the SWOT analysis was fairly much embraced in the course of the ideation phase. Notwithstanding, their combination helped in the team attaining the overall strategic goal; which focused on providing possible recommendations to NGV on how to effectively improve on their Friday Night event in the future. Considering that both of these marketing tools were effectively used in the very first beginning of the analysis of the event, they really helped to provide a workable platform upon where the team would easily comprehend the immediate needs of the customers while still ensuring that the entire team remained committed to developing the marketing plan even further. It was really an interesting event as most of us had enough fun while making sure to commit to our final course. The level of excitement and buzz that surrounded the event could not be easily put in better terms; we were amazed beyond our expectations. While it might be true that the team got entertained while researching on this event; it cannot be ruled out that evaluating the event was a daunting task. In fact, it was very necessary that we ruled out on some probabilities in order to gauge the event as a sole representation of how NGV is always conducted. It is crucial to understand that observation was the major technique that was adopted by the group coupled with the aforementioned marketing tools. None of the group members had previously opted for attending an NGV event before hence the attendance was sparked with lots of expectations while every level of the details observed was analyzed for future use. The visit to the NGV attracted a whole lot of mixed reactions; from the different group members. One of the team members could not hide the fact that the entire exhibition process was indeed a challenge given the amount of people that was present in that very Friday evening. Given the multitude people, it was so difficult to take enough time to analyze the numerous artworks on offer hence resulted to us opting to for a place to sit and relax while having a drink. While this might have been a problem, it also allowed us enough time to focus on observing the different set of activities that were taking place at the time. The use of GAP analysis solely focuses on the identification of the delta between the expected and actual sales event. To ensure that this gap is closed effectively, then it is expected that there should be a substantial degree of incorporated and diversification based opportunities. Companies are sometimes faced with the challenge related to the creation of a first time negative impression on potential consumers and thereafter; faced with the challenge attributed to modifying this initial impression. Muthukrishnan and Chattopadhyay (2007, p. 334) presents this challenge using the Food Lion; a popular supermarket chain in the United States of America in the 1990s. The company suffered a set of challenges especially when the ABC television network broadcasted a story that criticized unsanitary situations in the chain’s deli and meat sections. As a result of this, the chain lost a substantial number of customers hence a resultant sales decrease by 13% from the previous year (Hartley, 1995). Intensive level of growth is manifested while ascertaining the strategic degree of opportunities in the course of using a company’s current product and market while investigating with new commodities. For instance, in the case of the NGV event, the gap in its operations could be figured out in regards to the underlying level of garden space and its utilisation aspect. The level of extensive growth needed for countering the possible threat from the availability of nearby venues that provided almost similar services to NGV was entirely focused on the entity’s immediate strengths that were notably identified and discussed within the SWOT analysis. This mode of decision was enhanced by the current degree of growth that NGV enjoys along with the fact that it has set to successfully get positive feedback from most of its customers. TOWS analysis is a similar marketing tool just like SWOT and it is mostly used for the purpose of creating a strategic option formulation by way of integrating a set of external factors to those belonging to the internal analysis of a business (Hill & Westbrook, 1997). There are seven steps that are suggested while coming up with an effective TOWS analysis. The second step suggests that there should be an evaluation of economic, social, political, and technological as well as market competition facets. The third step recommends that development of a forecast/prediction of the future performance (Hill & Westbrook, 1997). . It is important to note that the integration of these factors while developing the TOWS analysis allows for a wider platform needed for the ideation to happen. In consequence, the ability to incorporate TOWS and SWOT analysis avails an excellent platform for allowing communication to the entire team members as well as notable stakeholders within all levels of participation. It is crucial to note that some of the scenarios that are produced within the NGV TOWS analysis were certainly position in line to the existing marketing plan. In relation to SWOT analysis, it was ascertained that all of the strategies proposed had intensive amounts of value hence could provide a significant data for developing future ideas. The only limitation that was identified while using the TOWS analysis was its capability to support possible formulation of quality data. However, it is one of the marketing tools that allowed us as team members to come up with the ideas as quickly as possible while still having intensive levels of fun. While taking a closer look at the SWOT analysis that we developed in relation to our visit to the NGV, it was clear that the events enjoyed a high degree of strengths that could be effectively used for purposes of improving its overall operations. For instance, we all agreed as a team that the facility’s extensive garden space provided a distinctive piece of asset that could be optimized for future benefits. On the contrary, the team also found out that the event management failed to consume this space in the course of the night hence resulting to underutilization of a significant component of the facility. Most of the notable recommendations that the team suggested were all directed towards improving the facility’s garden space and closing the gap between day and night utilization especially in regards to the use of the PhotoBooth. The team saw the need for adding a film-printed photo option; share directly to different social media platforms and also, increase on the imminent size of the pictures that were being digitally sent out. In regards to optimizing the gap identified in the underutilization of the extensive garden space owned by the facility, it is recommended that the management launch an outdoor heating that would be appealing to an open bar scenario. The fact that the garden space was empty in the course of the night meant that potential customers would look for space elsewhere while it could be possible implement the entire heating system using a low cost framework while making sure to make an enormous difference in the course of executing the facility in a much profitable manner. Another gap that could be closed in regards to the use of this empty garden space entailed an enclosure or even coming up with a protected area that is currently lacking at the moment thereby developing into a long time solution. All in all, using the different marketing tools to analyze the NGV was indeed informative and provided a basic real-life scenario application of the extensive theories learned in class. References List Hartley, R. F. 1995. Marketing Mistakes, 6th Ed. New York: John Wiley & Sons. Hill, T. & Westbrook, R., 1997. SWOT analysis: it's time for a product recall. Long range planning, 30(1), pp.46-52. Muthukrishnan, A.V. & Chattopadhyay, A., 2007. Just give me another chance: The strategies for brand recovery from a bad first impression. Journal of marketing research, 44(2), pp.334-345 Read More