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MARKETING STRATEGIES
The marketing strategy will be outlined following the four principles of the marketing mix. We will relate our proposed strategy to each one in turn. PromotionFigure 11 – Promotional Strategies TableYear 1 Year 2 Year 3aihuau.comStrategic flyer distribution (see appendix). Flyer distribution to other universities Flyers in induction pack at Newcastle, Northumbria and Sunderland Universities Strategic flyer distribution to wider market segments, in costume!Wearing NUTS T-shirts around Newcastle University campus Wearing NUTS T-shirts around other university campuses. Wearing NUTS T-shirts around the wider community.Complimentary tickets to key influencers at Newcastle University Complimentary tickets to key influencers at other Universities Complimentary tickets to key influencers within the wider communityCorporate hospitality to Student publications at Newcastle University Corporate hospitality to student publications at other universities. Corporate hospitality to local press resulting in free editorialMore clear and concise information available on website Introduce member’s area separate from main site dedicated to promotion. Potential development for Online payments (appendix)Initiate university competition to develop a brand image for NUTS All promotional material using brand template. Continual reinforcement of brand identity
Allowing for a permanent venue dates of performances to be publicised further in advance. Development of a season poster that can be suitably distributed prior to the start of the season of performances Further distribution of season posters at other universities/website.Collection of key customer data at booking stage. Begin to utilise targeted mail-shots Wider distribution of further targeted mail-shots. Pre-planning for opportunities to perform at public events/ theatre festivals to gain publicityComplimentary tickets offered as prizes for competitions in student publication at Newcastle Complimentary tickets offered as prizes for competitions in student publication at other universities Complimentary tickets offered as prizes for competitions in local publicationsConcentration to find a sponsor who aligns neatly and who receives benefit from being associated with the university. Begin to promote through sponsors existing promotional channels Maximise promotion through sponsors existing promotional channelsOur strategy is not to increase promotional costs radically throughout the three years but we intend to deploy limited resources more efficiently.Figure 12 – Preferred method of purchasing a NUTS ticket amongst sampleThis chart shows that nearly 40% of students found the student union a suitable and convenient place to buy tickets. However nearly 50% of the survey indicated they would like to purchase tickets online.Price8226; Price stays the same for year one and two to maximise attendance.8226; Dramatic price increase would alienate core student market (Figure 13)8226; Efficiency and profitability achieved through attracting sponsorship.8226; We acknowledge that different productions command different prices, however the minimum price of four to five pounds meets the demand of the student market. Figure 13 – Spending preference of sampleThis chart shows that the current student market is not willing to spend highly on theatre performances. The majority of students were unwilling to pay more than £5 to see a performance. This information will be key in the substantiation of our pricing policy within our marketing strategy. Improved AdministrationThere is a need to improve various administration procedures, which will aid in receiving better customer feedback to understanding the market NUTS is attracting and opportunities available to future marketing strategies.1. We suggest the collection of key data at the booking point of contact. This information will be used to collate a database of all customers who have attended a performance. The information collected would consist of name, telephone number and email address.2. We also suggest an ongoing performance-monitoring questionnaire (appendix 8). This would establish preferred types of performances and obtain valuable customer feedback to enable better understanding of customer requirements and future opportunities of alterations in the product. This would enable NUTS to provide what the customer wants, analyse success/failures and offer opportunities for future strategic positioning at a very low cost.3. The booking details and performance evaluation would be linked together into a central database, which can be seen in figure 12. The database would be simple containing key customer data that is expandable and simple to use. Set-up cost would be low with compatibility for a future web-link of potential customers. It would enable ad-hoc queries for extensive e-mail shots to specific potential audiences. Using simple numeric scaling as performance measurements means that further statistical analysis is possible. Figure 14 – Sample of Database Record for NUTS DatabaseWe would recommend that a NUTS member be appointed with the overall responsibility for managing the database.Figure 15 – Price comparison of other theatre offeringsThis chart shows the intense competition of theatre productions in the Newcastle area. Unexpectedly NUTS are not the lowest cost providers of theatrical performances. Price is clearly very competitive within the marketplace, with extensive competition to NUTS offering a perse range of quality and venues.Within the geographical area of study there were found to be 15 alternative venues to NUTS. These are displayed on a perceptual map below.Figure 16 – Perceptual map of theatre venues in the Newcastle areaProductFrom our initial meeting with the NUTS management team it became apparent that NUTS were reluctant to compromise their identity and artistic direction in order to attract a broader audience. Through attending a performance it became evident that the total product in its current form was not suitable for a broader audience. A conversation with the director (Paul Black) reinforced the suitability for the primary student audience. Changing the product would also demand the need to make adjustments to the other areas of the marketing mix as they are all inter-related. Changes to the product could prove expensive and unfruitful therefore we would not advise them.There are possibilities to enhance profits whilst at the same time enhancing the ‘total experience’ by offering add-ons. The core product could be augmented in such ways as souvenirs, memorabilia, charging for programs, negotiating a percentage of bar sales from the venue.PlaceMany of the venues currently used by NUTS are suitable for the Universities market but would be off putting for other groups. We propose that NUTS should find a permanent venue which people will soon come to associate them with which provides an optimum number of seats to generate the required revenue.By entering a “contract” with one venue NUTS should be able to negotiate a discount. It will also help in that dates can be published on promotional material further in advance. Currently this is a problem, dates and venues are negotiated too late therefore the promotional lead time to each performance is reduced.A central venue either at Northumbria or the union would seem to be the best venue for the market that NUTS will be hoping to capitalise on. Some way down the line if NUTS were intending to broaden their appeal to the external market, a venue such as one of the smaller stages at Northern Stage could be considered.Figure 17 - Costs per customer across NUTS’ venuesThe above chart shows a cost per customer based on maximum potential occupancy, pided by the cost to hire the venue. This chart gives a financial analysis of the most profitable venues to perform at. We can see that Northumbria University offers the best value as well as a central location with further opportunities to penetrate Northumbria University, while still appealing to its current local audience.Northern StageAfter communicating with the Producer of Northern Stage (Gregory Nash) we uncovered the potential of a future link between Northern Stage and NUTS, he alluded to the possibility of the refurbished, central theatre being made available to encourage “theatrical excellence of the society”. The theatre boasts three stages consisting of 500, 200 and 300 cabaret style seating. It presents an opportunity to fulfil the plan of optimising seating and attracting non-student segments in the future.
