Today, the customer has to be made aware of the product or service to attract them. Therefore, there is a need to develop a marketing plan and re-launch Plaza.
Suitable Marketing Communication Strategy: Just preparing a marketing plan will not ensure effectiveness of the plan unless a strong marketing communication plan is developed. Reaching out customers and making them aware of the services being offered is very essential therefore, it will be recommended to Barry that he should not underestimate the suitable and supporting marketing communication plan. The most visible part of any marketing mix variable is marketing communication and any communication plan should be set in consideration to overall marketing strategy and should be based on target audience (OUP Website).
Focus on SMART Objectives: In order to be successful, Barry needs to set marketing objectives and business objectives and the objectives should be SMART. For example, if Barry decides to target a customer segment and develops marketing communication plan accordingly, he should also consider that the targeted customer segment is big enough to achieve the set level of sales.
Conduct Environmental Scanning: It is also recommended to Barry that he should conduct external environmental analysis especially the PESTLE analysis to understand the environment. To develop a SWOT, it is very important for Barry to conduct environmental analysis. For example, Barry should evaluate legal factors (such as Health and Safety Regulations), social trends, economic conditions, interference of governmental agencies in the region, access to technology and environmental sustainability.
Conduct Competitors’ Analysis: It is also recommended to Barry that he should not overlook his competitors if any. Cinema is one of the most entertainment sports for the people and the new movies can always attract people to cinemas. If audience of Plaza is very low then Barry needs to