• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing analysis of a London tourist attraction - Somerset House.

Extracts from this document...

Introduction

THE BRIEF What is marketing? Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. This is what Somerset house wants. I have been asked by a marketing agency to produce a marketing strategy for Somerset house's new or existing products. In order to produce a marketing strategy I had the opportunity to visit Somerset house where I was briefed on there existing marketing strategies for there existing products. The products include the ice rink, Gilbert collection, Courtauld gallery, Hermitage rooms 3 shops, 2 cafes, and a Restaurant/Bar. Ice rink This year was Somerset house's second annual ice rink opening in the spectacular setting of the courtyard, the rink is London's most beautiful open air skating outdoor rink covering an area of 700 square meters. It is open from the 5 December to 20th of January. This attracts a large audience of young people and increases the chance of people visiting the galleries. Gilbert collection The Gilbert collection of decorative arts is one of the most important gifts ever to be made to the British nation. The collection comprises some 800 works of art and was formed over the past 35 years by Sir Arthur Gilbert. Magnificent European silver, spectacular gold snuffboxes and remarkable Italian mosaics can be found in the south building at Somerset house. ...read more.

Middle

These principles are divided into three categories: -Needs of the customer -Needs of the organisation -Influence of the market Needs of the customer Customer satisfaction This is done through market research, which must establish whether customers' expectations are satisfied by current products and services. Somerset house has to make sure that its customers are satisfied. This may mean that Somerset house has to have excellent customer service and well-trained and motivated staff if they are to meet their customer's needs and demands. If customer's needs are not met properly, customers might not return to Somerset house which will led to a decrease in the amount of money coming in Somerset house. If customers get a bad impression of Somerset house, this could spoil Somerset house's reputation, leading to a decrease in future sales. Needs of the organisation General income or profit This principle clearly states that the need of Somerset house is to generate as much income as possible since it's a charity. With out this income Somerset house will not have enough money to spend on making improvements to the galleries. Make more attractions and events like the ice rink which is put on annually. Without this money Somerset will not have the financial suitability to improve its marketing strategy and advertisements. Which means if customers are not aware of what is available and on sale at Somerset house, the income will fall as no customers will visit the galleries and spend time in Somerset house. ...read more.

Conclusion

It is important that the marketing department at Somerset house understand the criticisms that they might receive as marketing has a major impact on the conflicts between business and social issues. STEPLE is the same as PEST but in this cause the environment, education and legal are added. Because Somerset house is in the middle of London there might be some environment issue around it and because it's an historic building changes are not made to it in a way that will damage its brick work. Analysis of the competition Somerset house will clearly have to understand who its major competitors are and what benefits they are offing, this will help Somerset house to plan for the future and be more competitive. Since Somerset house is a museum its major competitors are other museums like the history museum, other Art galleries, these will appear as a major threat but if Somerset house conducts its market research properly it could gain the largest market share. Somerset's restaurants and bar is very competitive and attracts many high-class customers however, if Somerset house does not analyse its competition, customers might turn to other restaurants that offer them value for their money. ?? ?? ?? ?? This document was downloaded from Coursework.Info - The UK's Coursework Database - http://www.coursework.info/ This document was downloaded from Coursework.Info - The UK's Coursework Database - http://www.coursework.info/ This document was downloaded from Coursework.Info - The UK's Coursework Database - http://www.coursework.info/ This document was downloaded from Coursework.Info - The UK's Coursework Database - http://www.coursework.info/ ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. PEST analysis for M&S and Oxfam.

    This is because Oxfam have to pay for the energy and electricity that they use which means they can donate less money to poverty and suffering. This is like on of Oxfam's main expense. Labour, supply and demand: Labour, supply and demand affect Oxfam in a good way because they

  2. Strategic Analysis of Woolworths

    Safeway Supermarket is also a dominant player in the retail industry, which means that supplying goods to Safeway Supermarket is one of the suppliers' important earnings. Therefore, the suppliers of Safeway Supermarket do not have a strong bargaining power.

  1. BTEC BUSINESS UNIT 2

    People also may get fed up of the pop-ups if they have any; there is a high risk that there can be pop-ups. Coca Cola Enterprises use mostly the best forms of communications within the business, when communicating within each of the functional areas.

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    The threat of substitutes, however, is a very real threat. The soft drink industry is very strong, but consumers are not necessarily married to it. Possible substitutes that continuously put pressure on both Pepsi and Coke include tea, coffee, juices, milk, and hot chocolate.

  1. Marketing Aims and Objectives - with examples from major companies.

    stop the production of a new upcoming Adidas f-50 football boot and replace it with a new casual and trendy hi-top trainer which contains a lot more colour and seems more appealing to the customers. Replacing old products is essential because once the products go out of fashion or become

  2. Unit 3 - Marketing Research And Marketing Mix

    This will also promote the product and maintains achieving the objective of consumer satisfaction. The business has to make sure that it is legally covered and it is important that they do this. On the back of the carton, GlaxoSmithKline must ensure that legal information is printed and details including nutritional information are also published.

  1. Marketing analysis of Marlboro cigarettes

    middle school and 52% of high school students usually smoked Marlboro Cigarettes. Stability: Most marketers prefer to target consumer segments that are relatively stable in terms of demographic and psychological factors and needs that are likely to grow larger over time.

  2. Marketing assignment - analysis of lastminute.com

    Thus, there is neither potential nor need for transport, storage or stocking of services. Furthermore, a service can be (re)sold or owned by somebody, but it cannot be turned over from the service provider to the service consumer. Solely, the service delivery can be commissioned to a service provider who

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work