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. I would ensure methods of constant

information gathering as well as data analysis in order for the big decisions to be made. Examples of this

are given further into the project.

Identifying - this involves these simple questions based towards the consumer: What, Where, When

and How? This way we can keep in touch with our thoughts and perceptions about this market. This

process plays a large role in this firm, as I will have to ask questions by the second to achieve the

correct information at the right time in order for the business to be a success. The marketing department

would look into market research, as this is the main factor of the project. Focus groups and other

methods of research will be undertaken in order to achieve a better understanding of my concept.

Anticipating - takes into account that consumer requirements are changing all the time. Hoping to

think like them so to meet their needs. When comparing the proposition to present ideas already on the

market, I would make certain to look further to the future as the idea is unique and has lots of potential

for entertainment purposes. When I want to expand the product overseas I would need to be careful as

some countries could see the idea as a gambling opportunity, and will perish the thought of breaking

the law (for example America).

Satisfying - involves meeting the consumers needs. Consumers want the right goods, at the right price,

at the right time and in the right place. According to plans, I will attempt to meet consumer

requirements. Before this is suggested, enough market research would need to be gathered to tackle the

problem.

Profitably - is the margin of profit that motivates organisations to supply goods to consumers in a

market? Profit may be simply one motive for supplying goods to a market. I would need to keep my

suggestions sensible as this idea could result in failure. The motive is to see if this idea will be effective.

If it is the next objective will be to collect the revenue and plan for the future.

Principles of Marketing

Marketing is essential in order for my business to be a success, I would need to meet the needs of my

actual and potential customers, whether for profit or not.

If a business's marketing is to be successful, it should understand:

Customer needs - Understanding this is done through the process of market research enabling a

company to understand their consumer and moulding around this image. My business does this by

gaining data collectively analysing and documenting any relevant issues.

Keeping ahead of the competition - in competitive business environment organisations are forced to

be on their toes. So we cannot let rivals gain advantages by offering lower prices or goods customers

perceive to be substantially better. In order to excel organisations will gear their activities to being

better than their competitions, and to keeping up with any improvements competitors make.

Andthewinneris.Com will be carrying out this by means of research, making sure we are keeping up with

technology, along with carrying out SWOT & PEST analysis to keep up with changing times for them

and the market.

Communication effectiveness with customers - an effective network of communication is essential for

any form of promotional activity. It enables an organisation not only to communicate with its customers

and satisfy their expectations but also to build an image with the world at large. Such an image will help

others to form a judgement about what the organisation stands for, and will influence their dealings with

it.

Dot.Com does this by using various tools to communicate effectively with customers to satisfy their

expectations within what is known as the promotional mix.

Satisfying customer needs - this is carried out to be competitive within my market segment, so to this

market research may be conducted asking questions to find out what THEY want.

Co-ordination of business functions to achieve marketing aims - business strategies is concerned with

the big decision organisations for the whole organisation and influences the future of a business for a

long time to come. An organisation with a strategy is concerned with identifying successfully so that

the organisation can meet a range of objectives.

Awareness of the constraints of marketing - Every organisation that has a marketing activity is faced

with a number of constraints that may limit their activity.

Internal constraints - relate to the resource capabilities of an organisation.

External constraints involve a series of factors within the business environment in which an

organisation operates that limit, in one way or another, the organisation's activities. These will include

the following,

Consumers - if my organisation is not market focused or if consumers are not interested in a product,

then it will be difficult to market.

Competitors - It may be difficult to market a product for which a competitor already has an advantage.

Economy - In a period of economic recession when consumers have declining incomes, it may make it

difficult to market a luxury product.

The law - There may be a number of laws constraining the activities of a business, which may make it

difficult for the business to do well.

This is relevant to the Dot.Com business at hand, as it is a market-focused company that will research all

these constraints fully and will try to find solutions that enable it to turn weaknesses into strengths and

threats into opportunities.

Stakeholders

Stakeholders are anyone with an interest or 'stake' in the business. To a stakeholder, it matters what

the business does, and likewise, it matters to the business what the stakeholder thinks or does.

Stakeholders are normally categorised into two types, these being Internal stakeholders and external

stakeholders. Internal stakeholders includes employees, managers, and of course the owners. External

stakeholders include customers, suppliers, shareholders, lenders, pressure groups, the local community,

and the government, the Inland Revenue, and Customs & Excise.

The Dot.Com venture will have stakeholders these being from the moment the business is established.

The Internal stakeholders will include employees, managers (possibly), and, of course, me. External

stakeholders, who will include the customers (pubs and people participating in the quizzes), Suppliers of

the equipment i.e. of remote controls, The bank (if we take-out a loan), Inland Revenue (responsible for

Taxation), Customs & Excise (responsible for Value Added Tax) and the Government.

It is necessary for a business and the business at hand, to develop and maintain a relationship with its

stakeholders. This is the task of the Management of a business, to prioritise the objectives of the

business (some may conflict), in order to keep the majority of the stakeholders happy for most of the

time. Maintaining a relationship with your stakeholders is important because the business will want all

stakeholders to have and continue to have an interest/stake in the business. This is especially true with

the example of actual and potential customers.

If my business does not develop or maintain a good relationship with its customers, it is easy to see that

they will go elsewhere (to a substitute). As you can see, this would also be true for many other

stakeholders as well. If a business has creditors (suppliers) that it has not settled, the business will

develop a bad relationship with them, and consequently the supplier may not supply to them any more.

Market research

Market research is a way in which my business can understand and be aware of the activities of

competitors before I can develop my marketing strategy. Market research is categorised into two types

of research. One of these is Primary research (or field research).

Primary research - is the gathering of 'raw' data, designed to fit the business's research objectives and

requirements. One problem that many people see in primary research is the expense of it e.g. a survey.

One way to potentially get around this problem is syndicated research, where the 'information seekers'

join to carryout the research.

Another major type of research is secondary research, otherwise known as Desk research. This is the

gathering and analysis of already available information. Therefore, the company does not have to

actually carryout surveys etc, but just look up information that they need, this is where the Internet is

most useful! A big advantage of Desk research is that it saves both time and money for the company in

question. However, one common disadvantage with this type of research is that the information found

is not always the information that it needed.

Market research can obviously be of great help and benefit the business enormously, which is why it is

considered a very valuable tool to my business in achieving success and my objectives. Taking the

example of survey/questionnaires, you can see the benefits of it to the company. If I was thinking about

launching a new market and/or looking for a gap in the market, I could ask people what is needed. After

I have found out what is in demand by consumers, then I will then continue to carry out more research.

So the company will continue to use research until all of the research objectives have been satisfied. If

the company's research has been successful, I should know exactly where to head in the market next.

Market research can obviously help a business that is not doing very well, for example, making a loss. In

the case of 'Andthewinneris.Com the primary research should help to understand how the interactive

quizzes work, and what consumers think of them.

All businesses carrying out research have the worry about cost. So if it doesn't find out the information

that it needs and the objectives set out are not covered, then the research has obviously not been a

success and then my company has wasted valuable time and money.

In some cases, data is very hard to find or access. This would mainly be the case, in my opinion, with

secondary research. My firm may be looking for information via desk research, and not be able the find

it. I may find some information, but it is not detailed enough to cover my objectives. These are some of

the problems that this business will have to be aware of.

What my business and other businesses will also have to be aware whether the data is valid and

reliable. Firstly, if the data is not valid [suitable], then it will obviously be of no use to the company.

For example, the company may get some information, when conducting desk research, which is dated

983. This information may be too old for use, and therefore not valid. Therefore, this would be a

restraint to producing the final product.

Primary Research

(Field or Research) is the gathering of fresh information, specially tailored to the businesses own

requirements. The problem here is the expense of the survey. Syndicated research is one answer: here

the information seekers join to conduct the research. Alternatively, established research agencies may

undertake research and sell their findings to interest organisations. Below is an explanation of methods

of primary research explaining how they are carried out:

Interviews - This is increasingly common these days. It is a form of test or assessment. Interviews are

arranged for almost every kind of job. The process of looking through forms or letters and the

examination of references will mean that only a few of the applicants for the job will be interviewed. This

is because interviews take up the time of senior managers who have to carry them out, and this will be

costly for the business.

Focus Groups - This involves a group of customers being brought together on one or a number of

occasions. They area asked to discuss questions prepared by market researchers. The groups contain a

range of individuals who are thought to be representative often the customers of the business or

particular segment of customers. Focus groups are relatively cheap and are an easy way of gathering

market research information.

Panel Discussions - Another example of market research is to set up panels of consumers, which consist

of groups of consumers who agree to provide information about their attitudes and buying habits.

Another type of panel is a diary panel. With this type of panel, consumers record their purchases and

media habits, usually in a diary.

Surveys - These are the most common ways used to collect market research information. They use

market research methods, such as various types of interviews, to find out how respondents react to a

range of issues often contained within a questionnaire.

Questionnaires - The quality of the information obtained via the questionnaire is inextricably linked with

the survey. A good questionnaire will result in a smooth interview, giving the interviewer a precise

format to follow and ensuring he or she obtains exactly the information required in a format that is easy

for the researcher to analyse later.

Sampling - Businesses need to collect enough data to have a clear idea of the views of the consumers.

Taking a sample of the population can do this. This sample can group should be made up of consumers

that are representatives of all potential buyer of the product. Computers today can be used to produce

to produce a random list of numbers, which are then used as the basis for selecting a sample.

Testing - Test marketing involves selling a product in a restricted section of the market in order to

access consumer reaction to it. Test marketing usually takes place by making products available within a

particular geographical area.

Pilots - A pilot is a small-scale experiment, which is undertaken before something, is introduced on a

larger scale. If time and costs allow, a questionnaire should be piloted by trying out test respondents.

This may not involve great many respondents, perhaps 10 or 12 at most. A pilot is useful in identifying
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any major problems with the questionnaire.

Field Trials - Selected consumers may be asked to test a product prior to its launch. The purpose of this

is to ensure the product performs according to expectations in the home environment, and it provides an

opportunity for problems to be sorted out.

Although primary research is a great way to gather and collect relevant and very useful information,

which companies can benefit from, it can be very time consuming for customers or participants

answering the questions. Also firms using ...

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