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Marketing analysis of a London tourist attraction - Somerset House.

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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.

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