Entertainment Consulting Firm, Essay Example

Introduction

Today’s entertainment sector is vast challenged with competition from all sectors of the entertainment. For one to cope up with the emerging competition, there is needs to incorporate two major components on the marketing strategy;

• How the firm will address competitive market place
• How to execute and carry out your every day activities.

An aggressive policy, which ensures reliable approach in offering the service delivery in the way that outperforms the rivalry, is significant. On the other hand, one ought to have a well-defined methodology for the daily process of its realization. It will be of no use to have a strategy while lacking the resources or even the expertise for its implementation.

This research paper covers the distribution marketing strategies that will enable the company reach out to their customers, the decisions, strategic partnerships, market approaches and sale promotions to employ in order to achieve the goals.

For one to come up with the relevant marketing strategy there is need to put into consideration a number of aspects which are of more importance than the others. As they all address some exceptional contemplation, thus not reasonable to identify each important factor at a common level. In strategy creation, one needs to decide on the overall objective of the firm, which falls into three categories namely:

• Due to the prettiness of the market and the firm is amongst one of the strongest in the industry you will want to devote your best resources in support of your offering.
• If the market is very attractive, the enterprise is struggling in the industry you must concentrate on strengthening the enterprise, using your offering as a stepping stone toward this objective.
• If the market is not especially attractive, but your enterprise is one of the strongest in the industry then an effective marketing and sales effort for your offering will be good for generating near term profits. Having come up with the ways of coping with the competition, there is a requirement to formulate the strategies, which will be more effective and competitive to the market.

Cost leadership strategies: is based on the conception that one can generate quality services at a lower cost than the competitors. These decodes to the profit margins in the industry average.

A differentiation strategy; is one creating the product or service that is professed as being unique throughout the industry. It emphasizes on the brand image, proprietary technology and special features.

Focus strategy; is the most sophisticated as it is the most intense and is designed to address the focused segment of the market place, product form or cost management. This is based on the concept of serving a particular target in an exceptional manner different from the competitors.

Pricing

It’s the mostly influenced by the prerequisite of the net returns and the objectives of the firm for the long term market control. It involves offertory of the high prices in the significance that one has least aspiration for the noteworthy market dissemination and control. In addition one may set low prices for the live performances, concerts and recording contracts for the brisk of market incursion. The price expectation places one firms to a level same with the competitors for the harmonization of the market.

In this case the firm will have to employ the use of discount services to the customers purchasing the tickets earlier and even offer  gifts such as drinks for a certain number of customers who are first to arrive to the events organized by the firm.

Promotion

There are of two strategies, pull and push. The push strategy maximizes the use of all the available channels to “push” the services to the market place. It requires generous discounts in achieving the objective of giving the channels like radios, internet and entertainment journals incentive to promote the company, thus minimizing the need for advertising. The pull strategy requires unswerving approach with the end users. The use of the distribution channels like radios, Television channels and internet are minimized during the first stages of promotion and obligation to publicity is essential. The objective is to “pull” the prospects into the various channels outlets thus creating a stipulate, which cannot be ignored by the channels.

Use of digital marketing such as the use of web tools

The use of digital marketing and communications to the customers is very effective since it targets the audience and has the ability to make the promotional campaign personal and also it is so interactive. It aims at communicating with the customers, educating and informing them about the brand products produced by the entertainment consulting firm. Therefore the entertainment industry requires one to understand the customers effectively. It is also effective since it facilitates the close connection between the consumers and the distributors of the brand. It is also able to reach the ambient media. Therefore it is responsible for creating and delivering superior customer value in the market target that has been chosen. This has facilitated the expansion of more business opportunities to the society. The reason as to why digital marketing strategy is that it does not only offer cost-effective solutions for marketing but also an opportunity for reaching out to the global audience.

EFY News Network (2009), Establish 360-Degree Communication With Customers. In any entertainment industry, the consulting firm needs to create a close connection between the customers and the brand producers. There is therefore need to change the customers dynamics and enhancing their relationships in the business enterprise. There a strict and daily communications with the customers globally through all of their media campaigns. Therefore it is effective enough to use the web to reach out to the people all over the world. Therefore for the entertainment business to flourish and sale, the web becomes the most essential tool in ads and also receiving and delivering information directly to the customers. This tool is essential since it delivers a value. A tool that is pull based strategy enables customers to pull information from the brand marketers. The push based promotional strategies are efficient enough to create awareness program to the targeted audience in the event of either discounting programs to the customers or pure communications. The entertainment industry business behavior is very competitive hence there is need to use competitive advertisement programs in the web which are updated daily in order to carter for the current needs of the customers.

For the web to work effectively, it means that there is need to integrate technology, effective communications channels and also social integration. This form of communications includes the use of audios, videos and pictures. Therefore for the entertainment industry to thrive well there is need to create an interactive and highly engaging interesting marketing strategy. Hence what will propagate the market is great application of innovations.

Trade shows

This refers to a place whereby many events happen including discussing corporate participation in the shows, conferences and other components in the marketing programs. In the entertainment industry, there is need to go beyond the use of magazines for advertisement among other strategies but what is also required is the use of trade shows and exhibitions to sale your brand product. It facilitates direct interaction with the customers, incorporation of demonstrations and also interacting with the prospective clients. Therefore it is important to bring out the “show biz” while promoting a product in the entertainment industry. So it is critical to incorporate very exciting, colorful, burst with energy and interesting shows in the streets. The entertainment industry should therefore inject a mentality of a show business to people making them feel the first class experience (Susan, 2003).

The plan will involve a rigorous customer care service that entails training them on how to use the product and also help them with problem solving techniques that is quite efficient and reliable in the process. Therefore it is important to be first- class professional and use of extensive creativity. Creation of enough space will facilitate the comfortability of the guests in the trade shows.

Therefore our business marketing strategy will also use the elements of other competitors in the movies, music, television industries in reaching out to more customers. This will require more resources pumped into the media in, ads, internet, training the employees to engage the entertainment industry into the exhibits. Each ad that we will place should showcase the opportunities that our entertainment industry offers in the trade shows (Susan, 2003).

Strategic partnerships

The marketing strategy will include partnering up with potential media houses, advertising sites in the internet since they help promote the brand products in the entertainment industry. They will also facilitate the airplay of the adverts and also link up with the distributors in distribution program.

Conclusion

In the communications and distribution plan for the entertainment consulting firm, various forms of strategies have been used including the campaigns for communications, web strategy, trade shows, partnerships and also creating an environment that is interactive with the customers around the globe. Therefore the entertainment consulting firm has linked up with various channels of distribution to reach out to the customers effectively. Hence, these strategies in marketing will facilitate promotion of various entertainment brand products in the global market.

Furthermore, the entertainment-consulting firm has to put into the consideration the target market and the expenses the business will incur in the process of starting to operate. Furthermore since the entertainment industry is cropped with high competition, the firm ought to come with strategies to put it up to the market. The information about the events of the firms will be found on their website to allow the internet users to schedule their timetable so as to attend the posted events.

Reference

Tony Y. Sales promotion; Cengage Learning EMEA, 2006.

Dr. Ralph F. Developing an internet marketing plan, E-Commerce Consultant, 2000.
Susan W. Sales & Distribution Plan, Canada: Rutledge, 2000.

www.management-hub.com  information on sales promotion methods & Ideas retrieved on September 8, 2009

www.efytimes.com information on the Degree Communication with Customers retrieved on September 8, 2009.

Susan F. Certified Speaking Professional (CSP), is a “how to” coach specializing in the tradeshow industry, London: England, 2003.