Marketing Plan for National Exhibition Centre Golf Show 2009 - Research Paper Example

EVENTS MARKETING: Marketing plan for NEC Golf Show 2009 BY YOU YOUR ACADEMIC ORGANISATION HERE HERE HERE EVENTS MARKETING: Marketing plan for NEC Golf Show 2009 Marketing Analysis The NEC Golf Show represents a tremendous marketing opportunity to build a stronger brand for the event and also build consumer interest in golfing and golf tourism. Says one golf celebrity chosen to promote various branded products at previous NEC Golf Shows, “I love coming up here every year. It’s just getting bigger and bigger every time and there’s all sorts here” (golfshownec.com, 2009). The celebrity is attempting to indicate that the show continues to draw consumer interest, offering more events and higher sponsorships with each passing year, therefore from a marketing analysis perspective, the NEC Golf Show 2009 represents a lucrative opportunity to increase sales and also promote a better international image for golf as a conglomerate whole due to rising consumer patronage levels. This provides more opportunities for targeting and to give the NEC Golf Show 2009 more brand exposure to varying demographics. Golf, as a leisure sport, experienced a 4.1 percent growth rate between 2000 and 2005, while other sports, such as tennis, “went off the cliff in the 1980s” in terms of consumer interest and profitability (Newport, 2008, p.W3). This represents an industry which is in a state of growth, fuelled by higher volumes of demographics becoming interested in the game. It does not make good business sense to devote a high volume of financial resources to promotion of golfing events if ticket sales are expected to decline and the industry is in a state of maturity or decline. The NEC Golf Show is a stable marketing opportunity from the economic and marketing budget perspectives. In terms of competitor analysis, there is not a great deal of competition in this events-focused environment, giving even more opportunities to promote the event without concern of competitive actions which could erode promotional effectiveness. The NEC Golf Show 2009 is an annual event and is not expected to be impacted by any other golf-related events of this calibre in the region. From a competitive standpoint, the concern is more about building interest in existing consumer demographics and drawing new ticket sales as there is little worry of golf-minded consumers seeking a different venue on the day of the NEC Golf Show. Having little to no competition is a significant strength and does not complicate the promotional budget by forcing differentiation strategies. In essence, the NEC Golf Show can remain focused on internalising most of its promotional efforts without competitive realities associated with events marketing. The marketing mix Consumers identify with place in terms of access to the event and the ability to attend without significant complication in relation to transportation. The NEC Golf Show 2009 is located in the central hub of Birmingham which is easily reached via the UK motorway network, the national rail system which stops only minutes from the NEC centre, and is very close to the London Heathrow and London Gatwick airports (golfshownec.com, 2009). Part of promoting the benefits of a well-positioned location is to express the convenience of place, in the marketing mix, in all print advertisements. The current marketing group handling the NEC Golf Show illustrate these benefits on the event website, which likely contributes to historical sales successes. Part of the marketing strategy for this event should include online and print advertisements, mostly for potential domestic ticket buyers, to herald the ease of attending this event. In this event, the product tends to speak for itself, as golf is generally an enthusiast’s game with a strong consumer following by varying demographics. The golf show event will consist of many different business and social representatives in a wide variety of industries, however each connected with the sport of golf. These include travel companies, golf course ownership, golf supplies manufacturers, and even golfing celebrities (golfshownec.com). Product, in this case, represents a volume of different golf-oriented industries. Much to the advantage of the NEC Golf Show 2009, there is already a dedicated and interested consumer audience devoted to all things golf, thus product is not a risk to successful marketing of this event. By maintaining close relationships with different product suppliers, methods of how to best highlight product uniqueness or relevance will be individualised at the vendor level. As far as pricing, the NEC Golf Show 2009 will take into consideration the difficult economic climate being experienced across the globe and will attempt to create an attractive ticket price which meets budget and profitability requirements. Currently, the price for this event is set at £10 when purchased in advance (golfshownec.com). Additionally, using the power of short-term strategic partnerships, the show has teamed up with YourGolfTravel.com to provide every visitor to the event with a £25 discount coupon for use when booking a trip with the website travel company devoted to recreation and golf (golfshownec.com). The pricing structure makes the event more attractive to the budget-minded consumer audience and also ensures a return on investment (profit) after all marketing activities have been completed and the show has run its course. Promotion will be the most instrumental aspect in the marketing mix in order to gain higher ticket sales, ensure loyalty for future NEC Golf Show events, and build stronger relationships with a variety of different consumer demographics. Sponsorship, in this type of environment, is key to achieving profit success and is a strong competitive advantage. Currently, the NEC Golf Show 2009 is providing free, upscale whiskey by Singleton of Dufftown to all consumers who visit this sponsor’s vendor booth (golfshownec.com). This is an incentives-based form of promotion which ties separate lifestyle activities together in a way that is meaningful to the consumer profile most likely to attend the golf show event. It is part of the marketing plan to keep this sponsorship/strategic alliance focus to offer different, moderately unrelated products or services which appeal to the lifestyle demographics most commonly found at golf-related events. This will be accomplished by contacting various product and service providers, gaining their interest in setting up their own booth, and then using promotional materials to illustrate the wide range of products which will be available at the show. This is intended to build higher visitor interest and also secure future alliances with different product manufacturers for future relationship marketing. A strategic-oriented marketer recognises the importance of today’s relationships in building better alliances in the future. SWOT Analysis A SWOT analysis identifies various internal and external scenarios which contribute to marketing success for events such as the NEC Golf Show. One of the most significant strengths of this new marketing plan involves the low-cost model used to build consumer interest. In the United States, Acushnet, the maker of Titleist clubs and FootJoy golf shoes, spent over $2.5 million attending a particular golf show, only to find it gave them “little more than public relations and goodwill value” (Carey, 2002, p.9). Fortunately, the structure and layout of the NEC Golf Show does not require sponsors to devote these types of financial resources as a sponsor or partner at the event. Reinforcing, using marketing promotional tools, that sponsorship and industry attendance to these events does not invoke a high cost is a significant selling tool to bring in more qualified, expert vendors to offer consumers insight and product expertise. The low-cost model is not only valuable to consumers, but the golf industry partners involved as well. In the sport of golf, there is a weakness which must also be identified: “Statistics show that golf newcomers drop out of the game as fast as they sign up” (Pitock, 2006, p.65). Golf manufacturers and service-providers for this sport recognise these trends and may not be as willing to attend as a reputable vendor for fear of rapidly-changing consumer sentiment about the sport. This suggests that the NEC Golf Show 2009 marketing focus must be not only on attracting existing golf enthusiasts, but also to reinforce the merits of the sport to consumers who might, as a matter of inherent lifestyle or value changes, be less interested in making product purchases from vendors. Golf is not an inexpensive sport, thus it is usually a sport for the more affluent consumer, such as the business executive (Sung, 2009). Shifting global economic trends, along with decreasing disposable income at the consumer level, likely leads to these drop-offs on golf interest. It must be a promotional focus to reinforce the quality and lifestyle elements of the game and attempt to build consumer loyalty for the sport by making the event exciting, relevant, and offering products at prices which appeal to target consumer markets. Targeting the consumer and segmentation In order to launch a successful marketing campaign, it is important to understand the most likely demographics for the NEC Golf Show. As previously identified, golf and golf tourism is largely directed at the more affluent consumer with the education and financial background to sustain regular golf enthusiasm. This represents a very large segment of the desired target audience and sponsorships with upscale, expensive whiskey producers is one aspect of appealing to this group. This market is usually drawn to golf as a lifestyle activity, therefore promotional materials which position the NEC Golf Show according to executive lifestyle is one success key in this marketing plan. Retirees also represent a significant promotional opportunity for this event, due largely to the higher resources of this group and the volume of free time on their hands (Newport, 2009). This would be a more tourism-minded consumer, thus promotional materials should appeal to the over-50 consumer demographic which illustrate the many benefits of golf for recreation and even at the relationship level, thus inviting spouses to attend as well. Another desired demographic is labelled Mr. Professional, consisting of a golf enthusiast donning “two-toned golf shoes, trousers made from costly fabric, and a logoed shirt from the latest golf company or event” and is usually a good player on the field (Newport). This target market represents a knowledgeable consumer who is not only interested in the game, but in the many clothing and accessory merchandise available in relation to sporting. Targeting this consumer will involve positioning the event as an opportunity to buy quality merchandise at the self-reputational level, thus appealing to their own concepts of self-esteem related to all things golf. By in large, the male demographic is the biggest consumer segment, with females being a very low percentage of potential target groups. “Mothers on golf courses are likely to be labelled deviant and asked to account for the care of their families than fathers on golf courses” (McGinnis and Chun, 2003, p.2). From a budgetary perspective, it does not make good marketing sense to use promotional materials which appeal to female lifestyle as the outcome of this investment will likely be minimal. Figure 1 illustrates the expected consumer demographic ratios for the desired target audiences. Targeting these likely consumer visitors to the NEC Golf Show 2009 will require collecting considerable data about consumer lifestyle and values for each target group, using secondary resource information as well as conducting surveys and interviews of these groups. Based upon the data received through these investigational efforts, lifestyle elements related to each group will be added to print and online promotional literature to build a consumer interest. For instance, if it is discovered that the affluent consumer group links travel with golfing, the benefits of tourism-based vendors and tourism discounts will serve as the incentive for reaching this group (etc). Research is a significant tool to ensure competitive advantage through knowledge of target group lifestyles and values. Promotional Event Methods There are over 40 million mobile subscribes in Europe and Asia, with consumers using mobile technology to check email, make bank transactions, and explore social networks (Westlund, 2008). “The steady rise of mobile Internet usage among all demographics, shows that cell phones are increasingly being utilised as sources of information” (Westlund, 2008, p.1). This is a relatively contemporary trend in society and it provides new promotional opportunities for securing a successful NEC Golf Show. To make use of this new marketing medium, prior to the launch of the actual event, sign-up forms will be strategically placed within different local golfing companies, golfing tourism agencies, and golf accessory suppliers to receive discount or other promotional materials about the event via mobile technologies. Partnering with local golf-related businesspersons will give the event more exposure in the regional communities and create a much-needed mailing list for future NEC Golf Show events. Coupled with the aforementioned positioning strategies designed to appeal to different demographic lifestyles in print and online mediums, the promotional plan should bring considerable financial return and give the event marketers new strategies for reaching the mobile consumer. References Carey, Robert. 2002. In the rough. Successful Meetings, 51(8), p.9. Golfshownec.com. 2009. Free whiskey. Viewed 18 Oct 2009 at http://www.golfshownec.com/news_article.cfm?ID=221. Golfshownec.com. 2009. Stars to Shine at Show. Viewed 19 Oct 2009 at http://www.golfshownec.com/news_article.cfm?ID=222. Golfshownec.com. 2009. Free £25 vouchers at golf show. Viewed 19 Oct 2009 at http://www.golfshownec.com/news_article.cfm?ID=220. McGinnis, L. and Chun, S. 2003. A review of gendered consumption in sports and leisure. Academy of Marketing Science Review, No. 5. Viewed 18 Oct 2009 at http://www.amsreview.org/articles/mcginnis05-2003.pdf. Newport, John Paul. 2008. Weekend Journal; Sports – Golf Journal: The Patient is Stable, Pessimism aside, the PGA Show finds the game in decent health. Wall Street Journal, New York. 19 January, p.W3. Newport, John Paul. 2009. Golf Journal: Seeing who’s at home on the range – Contrary to golf’s frou-frou image, you’ll find all types on the practice mats. Wall Street Journal, New York. 11 July, p.W6. Pitock, Todd. 2006. Golf. ForbesLife, April 24, Iss. 2, p.65. Sung, Paul. 2009. Golf Promotional Items – Score a hole in one with your marketing campaign. Viewed 18 Oct 2009 at http://www.ezinearticles.com/?Golf-Promotional-Items---Score-a-Whole-in-One-With-Your-Marketing-Campaign&id=3035279 Westlund, Richard. 2008. Mobile Marketing: Its time has come Part I. Adweek Media. Viewed 17 Oct 2009 at http://www.adweekmedia.com/aw/content_display/custom-reports/mma-awards-guide/e3i418dddc577c320a4000f3f13be5a38c2 Read More