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Business Studies Assignment Marketing

Extracts from this document...

Introduction

Business Studies Coursework Business Studies Assignment Marketing Coursework The aim of this coursework is to evaluate the marketing strategy of a familiar product or service, making recommendations on whether the marketing mix should be changed in any way. For my assignment I am going to investigate a bowling organization. Below is a map of the bowling organizations near and in Newcastle Upon Tyne: http://www.multimap.com/map/browse.cgi?client=public&X=425000&Y=575000&width=700&height=400&gride=&gridn=&srec=0&coordsys=gb&db=&addr1=&addr2=&addr3=&pc=&advanced=&local=&localinfosel=&kw=&inmap=&table=&ovtype=&keepicon=&zm=1&scale=200000 The bowling alley at the metrocentre has facilities such as; a diner, a restaurant, shops, amusements, bars and American pool. For one game of adult bowling they charge �5.50. They have many promotions mostly better value offers aimed at all ages: birthday parties for children, teenagers with mega teen parties, students with unlimited bowling, bowling and a meal offer, etc, they also promote other business' which are near to them such as laser quasar. The bowling alley in Whitley Bay has facilities such as; American pool, bars, amusements and a cafe. For one game of adult bowling they charge �4.00. They don't have as many promotions as the metrocentre but they do promote parties (like the metrocentre), American pool and ice skating (just like the metrocentre promotes business' around it). The bowling alley at the Royal Quays has facilities such as; amusements, pool, bar and a dining area. For one game of adult bowling they charge �4.45. They use many techniques for promoting their bowling but mostly better value offers like; unlimited bowling, a student deal, early bird and an hourly lane rate, they also do kids, teens and adult parties. The bowling alley at Longbenton has facilities such as; amusements, a bar, American pool and a dining area. For one game of adult bowling they charge �4.55. They use promotions offers such as; an early bird, Sunday night unlimited bowling, Monday its cheaper, wimpy offer and a family members offer. The bowling organization I have chosen to study is XS Superbowl in Longbenton. ...read more.

Middle

Firms may try to use an extension strategy. * Decline- means the product becomes obsolete as rivals take over. This shows that XS Superbowl is ahead of most of its competitors except from the new starbowl that has just opened. The Megabowl and the ten pin bowling are fading out and look as though they are going to become obsolete. To try and get ahead of starbowl since XS Superbowl has reached maturity/saturation the firm should try an extension strategy. This might include making changes to the design of XS Superbowl by putting in a ball bowl/soft play for children to play in like they suggested when we asked them about what they are going to do. They could also get rid of some of the pool tables and put more arcades on where they would make plenty of money. These would all help XS Superbowl get back into the product life cycle again by making new products and sticking to their unique selling point. This would help XS Superbowl to change its marketing mix which would try to get XS Superbowl ahead of its competitors Price The next marketing component is price. The price of a product must be one that the customer thinks is good value for money. This is not the same as being cheap. There are five different pricing methods. 1. Penetration pricing- is where a firm charges a very low price for a product that is new to get lots of people interested. Once the product has become established the firm will increase the price. 2. Skimming- is the opposite of penetration pricing. Firms charge a high price to start off with this helps the product to become desirable to people with larger incomes the firm then lowers the price of the product when it has become firmly established. This then helps it to become a mass-market product. 3. ...read more.

Conclusion

* Threats- The threats at XS Superbowl are: 1. Local cinema. 2. Brand new bowling alley STARBOWL opening. 3. JJB Soccer dome and Wet 'n' Wild at the royal quays. 4. Other bowling alley sites- Megabowl and Ten Pin Bowling. Recommendations There are many suggestions about how the bowling alley could improve. Product The bowling alley could improve through its product by making a ball pool or new soft play and take some of the bowling alleys out. This would emphasise the whole USP of the bowling alley and it would put the bowling alley up as some competition and it would succeed again through the product cycle graph. It could also get rid of some of the pool tables to make way for new arcades as they attract more customers than the pool tables do. The bowling alley could also get a new caf� fitted which would have people spending longer in the bowling alley and that means more profit. This would be an improvement to the marketing strategies. Place/Promotion As the bowling alley is not near any attractions, it has to be promoted more thoroughly and effectively. This could be done by putting more money into television advertisement and also put up posters along the road that the bowling alley is on so that cars driving past can read them. This could attract more customers as the bowling alley will get re-noticed. Price The bowling alley could set up more special offers tailored to the USP of families. This is better because families tend to have their own transport to get around so it would be better to advertise to them. This would be a big improvement in the marketing strategies because it will give the business a fresh start and reminding it of its objective/ USP- to be a family service. Conclusion In conclusion of this investigation, there are many ways XS Superbowl could get back into the product cycle through launching new things. The recommendations concluded from my investigation have come from evaluating and looking into depth into the marketing strategies of the marketing mix. ?? ?? ?? ?? ...read more.

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