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Marketing a Pub Quiz Web Site

Extracts from this document...

Introduction

Marketing a Pub Quiz Web Site INTRODUCTION I have been asked to produce an analytical report on a marketing strategy for a new or existing product. This strategy will need to include evidence and information about: How the strategy is based on the principles of marketing, How I have used sources of primary and secondary marketing information How I have analysed the impact of the external environment on my marketing decisions. How I analysed the marketing context and decided on an appropriate strategy. How I developed a coherent mix of strategies to meet consumer needs An evaluation of the reliability of the different marketing models used. Within this project there will be explanations to what each aspect is then this will be applied to my venture and reported on. My Business Idea My business idea is an interactive pub quiz web site run nationally for big cash prizes. This work was initially produced in a group for a national young entrepreneur's competition. Just to tell you, we won. METHODOLOGY I propose to conduct my research by means of secondary information by using a variety of textbooks including the Heinemann AVCE Adv. Business, Osborne Adv. Business textbooks plus another few. These will be a means of looking up topics to primary ad to my report. I will gather secondary data by going on the Internet using web sites to find out other relevant data then I will print out relevant information then analysing it and reporting on it. All this data will be analysed and commentated onto my investigation at hand giving me a variety of sources. Marketing Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. Management process - successful marketing needs managerial input because it requires constant information gathering, as well as data analysis, in order for decisions to be made. Therefore, for my Dot.Com venture I would have to make important decisions for the making of the project, prospects for the future and any problems that it would face if it existed today. ...read more.

Middle

- More and more people today are regular Pub visitors according to recent government statistics. In fact, Pubs across Great Britain sell more alcohol than any other country according to recent updated statistics. Therefore there is a growth in the market size and I'll have more chance of getting the idea across to the public. Also this is a new market segment in the market niche (gap in the market), and is a great opportunity for my idea to be put forward as it has lots of potential (e.g. people will seek the chance to win �1000 in one night). The publics are going to want to take a chance to win this sum of money. So my bingo type interactive quiz is a unique new idea and will attract lots of customer's nation wide. Threats (External) - Across the World (especially Britain) there is strong established competition in a few areas. For example, television shows such as 'Who wants to be a millionaire'? This offers a similar background of ideas as discussed in the project. Entertainment centres, which hold public bingo nights across the country shares a similar idea as, mentioned in the business preposition. Books, PC games, magazines and newspapers all show signs of an idea, which reflects my business idea. However, with a very large market size and huge target audience, I feel that this idea will reach great heights. New legislation's and regulation laws could be an issue I have to deal with. This is because technology is changing by the day and breaking laws of the Internet could result in finishing me if I don't keep up to date and apply these laws to the business. Viruses also are a big issue. As my business is strictly technological, computer hackers and viruses could frequently occur. To overcome these problems, each participating pub will be given a PIN number to download the questions from the Net to prevent crimes like hacking. ...read more.

Conclusion

It is an effective method, as my revenue will come from the web site. The premise part will not affect me as the orders for or product can be collected at the end of the week/month and ordered from the retailers. This will cut costs gaining us higher profits. Conclusion I have found this investigation complex but enjoyable. I know that if we as a group were to develop this idea, which I have a marketing proposal to head forward. I have learnt that a lot of initial planning has to go into a business plan and that if it is effective then the launch of any product should go as planned. All the modules used in the project were used as they are reliable and relevant to the firm. They are reliable as all data was recent, and primary data had to be believed as mord of mouth. The Ansoff Matrix, Boston Matrix were useful in analysing my market this resulted in my project moving forward. SWOT and PEST analysis enabled me to find out relevant facts in conducting my idea, from legal issues to how my idea coul be developed. This information was most useful as it gave me ideas in hoe i could developethe task at hand. The product life cycle andthe markrting mix let me be able to analyse the competion and how to act apon the market, their were certain limitations as they could only state what each function was, and i had to apply it to my venture. I've shown that this venture can be based on the principles of marketing, I conducted different methods of research and analysed the impact of the external environment. This led me to an analysis of the marketing context and thus a decision on an appropriate strategy. This strategy was developed with a coherent mix to meet my potential customers. This strategy has been evaluated for reliability, because I don't want to go broke, do I! Page 2 of 1 Page 1 of 1 ...read more.

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