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Global marketing-sensation

Extracts from this essay...

Introduction

Marketing feasibility study Sensation in Singapore Table of Contents 1. Executive summary 2 2. Introduction to Sensation White 4 3. Macro-environment: Singapore 5 4. Competitive analysis 7 4.2 Direct competition 7 4.3 Indirect competition 7 5. Target market analysis 8 6. Market entry strategy 9 7.1 Marketing Mix - Product 11 7.1.2 Music 11 7.1.3 Rules and Dress code 11 7.2 Marketing Mix - Place 12 7.3 Marketing Mix - Promotion 13 7.4 Marketing Mix - Price 15 7.4.2 Profit and costs 15 7.4.3 Tickets 15 8. Conclusion 16 9. Appendix 17 10. References 20 1. Executive summary Sensation White is a unique dance event created by the Dutch promoter ID&T, incorporating music from different genres such as house, electro, techno and trance. The word "white" is referring to the dress code of the event, where crowds of up to 50.000 people gather to watch their favourite DJs while dancing the night away. It first took place in Amsterdam in year 2000, but has now spread to 17 other countries in the world including Australia, where Melbourne got to host a Sensation party last New Years Eve. The aim of this report was to create a marketing plan for a Sensation White event in Singapore, the first in Asia ever, and determine whether it would be feasible or not. Singapore was found to have a prime macro-economic environment for investment due to its economic and political stability and good location in South East Asia. Potential problems by holding an event like this in Singapore was found to be the strict laws that applies to drug abuse and littering, things that are normally associated with dance events. Unless excessive care is taken, Sensation can be hold liable for the misbehaviour of their patrons. There is very little direct competition to an event like Sensation in Singapore (and in the rest of the region), mainly due to its uniqueness.

Middle

The Arts Entertainment (AE) License requires that a Singaporean citizen or one with an employment pass must apply on behalf of the foreign company. A program schedule, stage layout plan and song titles and lyrics must be submitted and applications can take up to 8 weeks to process (Government of Singapore, 2009). Additionally, setting up a designated smoking area for the event requires approval from the National Environment Agency (NEA) and if successful only 20% of outdoor area may be designated for smokers (Government of Singapore, 2009). Sensation will be held in Singapore Indoor Stadium (SIS) as well as the Stadium Green and Stadium Waterfront. It is Singapore's facility of choice when it comes to large-scale productions like concerts, exhibitions and, sports and entertainment events. Venue organisers offer a full range of services to ensure the success of events held at the stadium including event coordination, marketing, corporate sales, production management, crowd management and technical liaison (Government of Singapore, 2008). Therefore ID&T need only to collaborate with management at SIS to plan the implementation and operation of the entire event instead of putting together the production by sourcing a number of contracts themselves. Using one main service provider like SIS will also have a number of advantages such as: local knowledge to gather best resources, time and cost savings, operational efficiency and effectiveness since venue organizers would be very experienced in organizing events. 7.1 Marketing Mix - Product Since Sensation White is a strong brand built on certain features such as the characteristic music, dress code and visual arts, that are intended to be uniform wherever the event is held, we have chosen not to change the product in any particular way to better suit the Singaporean market. Sensation White is meant to be a similar experience in whatever country you visit the event, may it be Russia, Denmark or Australia. 7.1.2 Music All DJs in the main room will play for 2 hours each and the line-up will consist of highly regarded international artists, representing a diverse selection of electronic dance music ranging from house and electro to trance and techno.

Conclusion

30.000/45.000 = 0.66% From this whole estimation we can establish that a total of SGD 2.753.705 (0.66*AUD 3.780.000) is available for us in order to cover our cost. If this is sufficient it will mean that our profit from only ticket sales (excluding money from merchandise and sponsors) will equal the estimated price mark up of SGD 1.837.846 (0.66*AUD 2.520.000). b) We figured out that we in total would have to pay for 10 hours of a high international DJ rate. We also have to pay for 12 hours of a medium international DJ rate. Finally we have to pay an additional of 14 hours of a local DJ rate. We will also have to pay for hotel and travel expenses for our 10 international DJs (The different DJ rates are only examples since information on this is lacking. Real rates are however according to our research believed to be similar.): Calculation: 10*SGD 8.000 (high international DJ rate) 12*SGD 4.000 (medium international DJ rate) 14*SGD 1000 (local DJ rate) 10*SGD 5000 (hotel and travel expenses for international DJs) Total cost for DJs: SGD 192.000 2) Regular ticket - SGD 155 plus ticketing fee Gives you entry into the main room and both of the side rooms. (23.000 tickets available) VIP ticket - SGD 215 plus ticketing fee Gives you to entry into the main room, the side rooms, the VIP room and several VIP areas with improved bar/toilet facilities. (5000 tickets available) VIP ticket + Dinner - SGD 385 plus ticketing fee Besides a VIP ticket, you get invited to a pre-party cocktail and three-course dinner commencing at 6pm on one of the terraces at the venue. (2000 tickets available) VIP table - request for price This option allows you to host your own table on the VIP deck in the main room. Table service all night long, free drinks and entry into the VIP room are included. (X tickets available) 3) 10.

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